that one option in atlanta, blackstone swept up 1400 houses in a single day.w report released wednesday found like stone tenets in atlanta reported ranging issues from worst pipes and exposed plumbing to bed bugs, which the wall street landlord has been slow to fix. also, their private in -- private equity firms are bundling mortgages into a new financial product known as rental backed securities. >> now a new article turns the spotlight on new york city. a case study in what critics call predatory equity. private equity firms have bought up rent-regulated properties, hoping tenants will leave so they can hike up the rent. when tenants fought to stay, the firms resorted to predatory tactics from sending out fake eviction notices to shutting off he or water. in new york city, 1600 families in 42 buildings are falling victim to one of the hardest single foreclosures in the city's recent history. after conglomerate a private equity firms fail to pay the mortgage. we're joined by benjamin warren, a housing advocate who has been part of his building's tenant commit

john blackstone is there. >> as two living popes look onto former ones, two become saints. >> next. >>> a high-profile high-tech ceo has been fired after his conviction for domestic abuse. the uproar in silicon valley. >> and dinosaurs disappear. a famed exhibit in dc is shutting down so the creatures can be reconstructed all over again. >> why did you bring them here today? >> it is my day to see the dinosaurs. >>> good evening everyone. a western edition of the broadcast. for the first time since a racial controversy erupted, the los angeles clippers for back in uniform today. but not completely. this is what happened before today's playoff game in oakland between the clippers and the golden state warriors. players dropped warm-up jerseys it to reveal shirts turned inside out. protesting against the owner, donald sterling, who is alleged to have made stunning racial comment on a recording released this weekend. sterling was not at the game today. late this afternoon, his former girlfriend said the recording is real but says she did not leak it. more of that tape emerged this morning

what blackstone did with la quinta is the same thing.t less exposed to the real estate side. >> were they looking to sell this at some point? >> they were. a dual track on process. they decided they could get a higher valuation in the public market. looking at some comparative valuations for la quinta, it is coming out at a premium to hilton and extended stay. earnings is what they are looking for at the range.d of the >> they are expecting a high amount of demand. is taking this public after a strong demand for hilton and extended stay. we think they are expecting the same success here. it will be interesting to see where they price. they priced in the middle of the road for the other two lodging companies, so we will see if they third time is a charm here. >> thank you. leslie, of bloomberg news. breaking news coming out from the imf. let's get to scarlet fu, who has more on this. yes? not have the headlines as of right now, give me two minutes. >> let me take over. i think i have got -- >> this is the imf world economic outlook. in te

one of the biggest names in tech investment, blackstone's ivan drama. -- dragma. from generall motors goes public, and the ceo will tell me what happens when he finally gets out from under government support. you are watching market makers -- "market makers" on bloomberg television. i am erik schatzker. >> i am stephanie ruhle. i'm here at the nasdaq at the founder summit. this brings in great names like aero and oculus, and the bankers to represent them including goldman sachs and blackstone. p are hot. is >> stephanie, looking forward to it all. on assignment not too far away in midtown manhattan this morning. in the meantime, the month-long feud between ebay and carl icahn appears to be over. this will give him confidential access to the company, and he has withdrawn his demands for a paypal spinoff and 2 seats on the board. i spoke to ceo john donahoe in the morning, who characterizes this as a win for shareholders. i asked him, why give carl icahn anything at all. >> what he has done is seeing the potential in the opportunity in our company. so he is becoming

john blackstone is on the scene in northern california. can the government seize your tax refund to pay your parents' old debt? wyatt andrews reports it happened to her. >> it's wrong, and it's not fair. >> pelley: teri okita on a 21st century range war. >> it's freedom and liberty and access to our land, and get rid of this abusive government. >> pelley: and steve hartman on the road. joe brown is a rock star in his world, but the beatles almost put him out of business. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. this is our western edition. they were 44 high school kids looking to a bright future, to be the first in their families to go to college. for many of them it ended in a slit second on a california highway north of sacramento, a truck colliding head on last evening with the bus taking the kids on a college tour. tonight, investigators are trying to figure out how it could have happened. ten people were killed, including five students, three chaperones, and both drivers. 3

john blackstone, cbs news, darington, washington. act as lightning rods...osive results. >>> lightning strikes caused major damage in two bay area cities. giant redwoods act as lightning rods with exmost results. i allen martin allen martin in for ken bastida. >> am elizabeth cook. check out this tree in berkeley that got obliterated in an instant. it was originally 70 feet tall. lightning plow it to pieces. now it stands at amicesly 25 feet. the-- measely 25 feet. >> first, it was a huge flash of light. seems like all of out doors was white light. then, an enormous roll of thunder that shook the house. >> as the thunderstorm rolled through, this redwood was struck by lightning. it actually caused the tree to blow in all the directions at once. we have chunks of wood all over the neighborhood. >> luckily, no one was hurt. pge crews are still on the scene to clean up damage. we have just learned there is now batter main break in the area. >>> lightning also did major damage in salssalido. our own brian webb has more. >> reporter: this is elizabeth small's hom

so three big hotel companies that have blackstone private equity backing.ld -- or it is worthy of note, though, all three of the hotel companies are now above their ipo price. so maybe it says something at t least for now about the demand for hotels and those stocks. scott, back over to you. >> dom, thank you so much. >>> when ipos are front and center, you've got maybe the busiest week since '07. another 14 this week. what do we think of this one? what do we think of that figuring into this discussion as to whether there's too much froth? >> well, if a big private equity firm is coming out with an ipo, and i'm the underwriter, i'm going to really make sure it works. so they didn't price this at the top of the range. they priced it, actually, below the range, if i'm not mistaken, which is troubling. look, i think it's okay for a trade. but we're not going to know for the rest -- for another week or so how it does. >> i think you look at la quinta, the prize action here, similar to hilton, something to the gain side, nothing exciting. but own the company tha

this is the third business that blackstone has bought to the -- brought to the market.wded week, 14 u.s. listed ipos. ultimately you didn't get the price that you had anticipated. what happened? >> well, again, we had a little air pocket in the market this week. we -- this is a great brand, this is a great company. we are excited about the quality of investors that have joined us and committed for the long term. this is about creating value for the long term for all of our employees, all of our shareholders, our sponsor, blackstone. blackstone has been a great partner for the last eight years and helped us grow this business. they remain committed and are significant investors today. >> to those who would be critical or not buying today, this would be their take, the company is sort of a small one brand niche with a limited service. how do you respond to that. >> first, being in the select or limited service segment doesn't mean you provide limited service. we've been recognized for service delivery, recognized for creative technological solution, recognized as one of t

this is blackstone stelling part of its stake in the hotel company.he actual pricing was $70, below the marketed range. -- $17, below the marketed range. >> have you stayed at a la quint a? where do they fit in? >> quite honestly, they are lower than midpriced. >> ok, is this like they are unloading it? >> they are cashing out some of their stake. it is blackstone's third ipo for a hotel. >> hylton was a gigantic ipo. that may be one of the big issues. >> the video is insane. the video of the garden in front of lucla quinta looks like our side. -- versailles. >> it is not the only ipo. we have allied financial tonight. treasury begins to pare down some of its stake. michael holland has decades of experience in the ups and downs of the ipo. i know you have a relationship with blackstone and you cannot, directly -- comment directly. the ipo frenzy is back. >> absolutely. the ducks are quacking. every time is the same in terms of greed. the two issues that came out from blackstone, both of them are trading premium. they can come out with a third. the wor

erik schatzker and stephanie ruhle are there and spoke with the blackstone ceo steve schwarzman on wheree sees opportunity. >> we been having a great time buying things. the m&a business has been really depressed for years, way below historic levels. what is happening is some confidence is coming back and there are a lot of reasons why there might be some confidence. we are finding that our companies themselves are increasing their earnings really in excess of the s&p 500 pretty comfortably. our portfolio companies. what happens as businesses do better is people are more confident in their ability to buy or sell. it does not surprise me at all with over $2 trillion of cash in the system, stock prices that are higher than they have been, as a buyer, you have more currency and if you're this this is starting to do well, then you should feel comfortable about buying something. if there is nothing that anybody wants to sell you, it's hard. >> it seems like there are more of these secondary buyouts from other private equity firms. can you make as much dough with those transactions? >> i know

covenant blackstone -- hair and company blackstone. -- their parent company blackstone. ♪ >> from neware watching bloomberg television. >> blackstone hotel chains la quinta is expected to price its ipo tonight. filed 37 million shares from $231 a piece. it would give the hotel chain a value of $.5 billion. leslie, this is the third lodging company that blackstone out and took public just in the last six months. i'm spotting a trend. what is going on, and what is it helping?at helping -- six monthshe span of it took an extended stay public, they took hilton, both shares are up, so now they are looking to take la quinta public. >> does that make some people nervous at all when you start to see that many ipos in that specific a space all within the span of six months? it can, but what they've looked at was doing a sale, which were reported a couple of months ago, and decided to do an ipo because they decided they could get a valor that higher valuation that went -- they could get a higher valuation that way. they said we're taking this thing public, and here it is. >> the company was dri

alsoe blackstone ceo answer the popular question -- are we in another tech bubble?ut im not a tech expert have been in the securities business for a long, long time. payingr you have someone $19 billion for a company with no earnings than never had earnings, this is always a wake-up call. >> a wake-up call or a warning sign? >> you have to wake up to be warned. it's hard to do it while you are sleeping. that deal may have its own logic. >> the sellers have logic. >> there are so many high-priced businesses that make no money. we have lived this movie before. >> it ended badly. >> and it ended badly. usually what happens in markets around the world would either get superhigh valuation or you get very high valuations based on revenues and no profits, eventually, there is a correction. i think we are in a stage where you have to be more alert to this than not alert. >> they also caught up with barry sternlicht from starwood capital. he shared his real estate investment strategy and is taken the markets. the tree shaking. i kind of like the market reeling and dropping 1

john blackstone returns to oso, washington. >> reporter: can you ever recover? >> will we ever be whole and well? no. >> pelley: the pentagon unveils atlas. david martin on what the military plans to do with one of the world's most advanced robots. and wyatt andrews introduced us to olivia mcconnell, an eight- year-old trying to herd dinosaurs in the south carolina legislature. >> if something's wrong i've got to help out. that's just the right thing to do. that's what i'm all about. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. this is our western edition. the supreme court ruled today that voters may ban racial preferences in deciding who gets into a state college and who doesn't. affirmative action, as it is known, is still constitutional, but this decision gives voters in each state the final say in whether to allow it. it wasn't close-- 6-2, the six being justices roberts, kennedy, scalia, thomas, alito and breyer. ginsberg and sotomayor dissented. justice kagan had worked on the case before she joine

dihn blackstone, seattle. >> reporter: in houston, a in houston, a driver was cited for running a red and tsregarding a crossing gate, but it could have been a whole lot worse. have a look. the s.u.v. goes around the gate and is nailed by a light rail train. the s.u.v. was dragged several blocks. l exadults and two children were treated at the hospital, but they're all expected to be okay. they are heads of state and leaders of their churches. when elizabeth met francis next. i have low testosterone. there, i said it. how did i know? well, i didn't really. see, i figured low testosterone would decrease my sex drive... but when i started losing energy and became moody... that's when i had an honest conversation with my doctor. we discussed all the symptoms... then he gave me some blood tests. showed it was low t. that's it. it was a number -- not just me. [ male announcer ] today, men with low t have androgel 1.62% testosterone gel. the #1 prescribed topical testosterone replacement therapy, increases testosterone when used daily. women and children should avoid contact with applicatio

this is the third blackstone company to go public in the last six months.n the middle of the range, i do not know if that is an indication of where we will see the rest of the price. >> what is the interesting thing that makes it so beneficial for blackstone group at these companies public now? it is common to see a london-based private equity companies exit or verticals at the same time. because of the success of the extended stay, there are investor demands for these type of companies. they are kind of a sweet spot because it is the midpriced lodging model. they hit the consumers who have may have been acted by the unemployed rates, and now that those are turning around they will continue to travel a bit more and have discretionary money for travel. la quinta can learn that there is investor demand, i can capitalize on rising stock prices for the lodging companies come and price their shares adequately. well as thes lon other countries to will process -- had a dual process. andn the high run up prices, they saw they could get a better valuation in the ipo

it is the third hotel chain that blackstone has taken public in the past year.e that, it was extended stay, and of course, hilton, which was the biggest hotel ipo ever. both of those companies have seen their share prices rise since their initial public offering. >> it has already been a big year for ipos. kingd "candy crush" maker, digital, and grubhub as well. but they have had mixed results. >> the biggest ipo in the u.s. this year raising about $2.1 million. mixed performance since they began trading. if you look at the bloomberg ipo index year to date, it tracks companies that have had public offerings in the and past 12 months, not just your today. we have seen a decline for this year, whereas we had seen an increase over the past year. >> on deck for an ipo is allied financial. the auto lender rescued by the u.s. government during the 2008 financial crisis hits the stock market tomorrow. it is using the treasury department to divest its stake in the company. at the high end, it would have a of $13.5 billion, according to bloomberg. >> it will give its mon

there is of blackstone.liz: goldman is down. >> these regulations affect their very pernicious business model of trade much more than the other firms. morgan's steel because of the opposite direction much more like the assets managed reaffirm. i can take goldman sachs will do something fundamental. there was talk about buying charles schwab. that would not be a bad fit without the brokers or things of that nature. i could see that happening and just wonder if they will do something fundamental. you would think that they have to. >> a reporter said yahoo! and netflix their use a goldman sachs? [laughter] >> they will probably laugh at me. but i was at the "wall street journal" in 1989. liz: charlie gasparino. i saw you fighting in belgrade earlier today. i heard you yelling. [laughter] >> it happens so much i forget. liz: the bell rings in 27 minutes. all major indices are down. you want to keep every penny of your retirement fund but you are not. there are hidden fees all over the place this start up the she

doing better than expected, blackstone, total of $814 million.mpany. >> do you have this? check out your twitter. they have side-by-side shots of you. >> 10 years ago? >> yeah. >> look at that. you does the same pose. >> i really liked those pants. >> i'm sorry. >> that is the first time in eight years you said fore for that. >> sarcastic. i'm sorry i played the gamelike it's supposed to be. coming up, weekly jobless claims data. value stock picker scott black of delphi. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. [ banker ] sydney need

he runs blackstone advisory, you might think of it as their investment bank.ho knows a great deal about the business. so, gentlemen, let's begin with this. john, if you don't mind, i will put the question to build. when i look at build ackman teaming up to by allergan, i think in a lot of other people think -- i have never seen this before. this is a game changer. corporate boards around america should be running for the hills. should they? >> they certainly should prepare. the key is -- how well prepared our corporate boards? in the 1980's the raiders and up a lot with junk bonds, with mike melton, in the 1990's we saw private equity firms doing similar things. but i think that will ackman is a tenacious guy willing to take big losses to get big games. liken this to a corporate raid? >> of course, yes. so, bill ackman is a longer -- >> we should not just look at him, he is investing with pearson. pearson is making the big that, saying that he is betting on a whole different structure. is not corporate raiding, that is just m&a, wouldn't you say? >> i would pr

blackstone has stopped buying. they have big a huge buyer.hat say say about where the markets are. are you in agreement with him? >> i actually had a session yesterday with john gray for blackstone. i, from the beginning, had a different view of the opportunity in the single family market. i always said i think what blackstone and other members have done is a good trade. meaning what they bought it for and what they're selling it for will make a profit. >> right. >> what i have always challenged is whether that single family structure can be turned into an operating and efficient company. my real challenge is as time goes, on even today, if blackstone sold one house they would be unable to replace it. in terms of a value playing field. as we know, public companies don't do well on one-time events. they started by buying 5,000 homes. and i think you will watch them liquidate 5,000 homes. >> there's been an argument that firms have propped up the market in certain areas because they have gone and been as aggressive as they have been. >> there a

have they spent time examining and talking to blackstone? does the threat of regulation pose a risk to your business? >> we have been regulated since we went public and before that and so members of finra forth so we are used to this. this is nothing new. we have been through and sec audit and license my -- in life has moved on. what's most important is to always run your business in the most straightforward, open, transparent way. that is something we do. for people who have not had the benefit that we have of going through the ipo process, having lawyers crawling all over us to make sure that everything was done well, -- >> it's the benefit of the meatgrinder. >> you can occasionally have something tasty come out of it. as long as you don't look at how it is made. isn't that what they say? we are in a position through this type of stuff but not everyone is. >> we hear the sec in particular is uncomfortable with some kinds of transaction fees and deal fees. do you think there is a risk that through some kind of pressure if not outright regu

they are owned by blackstone, which is a major wall street investment group, which is worth hundreds of billions of dollars. >> reporter: that prompted a last question for multi- millionaire investor nick hanauer about his fellow one- hundredth of the one percenters. >> reporter: how do you personally feel when you hear that a company like blackstone has taken workers who used to work for avis and budget back to minimum wage, subcontracted? >> on the one hand, i feel like it's a moral abomination, but the truth is that they may have felt that they needed to do that because their competitor had already done it and they wouldn't be able to compete on price if they hadn't. >> reporter: the seemingly inexorable pressure of competition, in other words. which is why the workers of sea- tac have been organizing, they say, to counter with pressure of their own. >> woodruff: and now for something out of this world. nasa scientists think they have discovered the most "earth-like" planet yet, circling a star that's about 500 light years away from us. for now, you can just call it "kepler 186-f.

. >>> ahead, john blackstone takes us inside the development of a tsunami-warning system that's right here in the united states. >>> the news is back in the morning here on "cbs this morning." stay tuned for your local news. >> announcer: this portion of "cbs this morning" sponsored by smooth melting you think you take off all your make-up before bed. but do you really? [ female announcer ] neutrogena® makeup remover erases 99% of your most stubborn makeup with one towelette. can your makeup remover do that? [ female announcer ] neutrogena® makeup remover. hi. i just finished an energy audit of this building and started my own dog walking business. what did you do to deserve that thin mints flavor coffee-mate? it's only one of the most delicious girl scout cookie flavors ever. i changed the printer ink. really? it's actually tricky. you're lucky i like your tie. enjoy our caramel and coconut girl scout cookies flavor. now available in powder. nestle. good food, good life. [ male announcer ] there's chicken and then there's juicy chicken. the difference is best foods. best foods is the

john blackstone is there. >> as two living popes look onto former ones, two become saints. >> next. >>> a high-profile high-tech ceo has been fired after his conviction for domestic abuse. the uproar in silicon valley. >> and dinosaurs disappear. a famed exhibit in dc is shutting down so the creatures can be reconstructed all over again. >> why did you bring them here today? >> it is my day to see the dinosaurs.

as john blackstone reports, the question isn't if a tsunami is going to happen, it's when and how bad it will be. >> reporter: there was no warning ten years ago when the indian ocean tsunami killed some 230,000 people. by 2011, when a devastating tsunami struck japan, a warning system was in place but it came too late for too many. >> anywhere you are close to the water, you have to be concerned. >> reporter: in seattle, he leads a team of scientists at the national oceanic and atmospheric administration. they are developing a faster more accurate way to warn communities of approaching tsunamis. >> tsunami is going to happen, no question about it. what we want to make sure is that we do everything we can to reduce the impact. >> reporter: their project has taken on a sense of urgency because of the cascade yeah fault system about 100 miles offshore running from northern california to vancouver. scientists now believe it's capable of a magnitude 9 earthquake. >> on the san andreas fault we're waiting for the big one. on the cascadia fault we're waiting for the really big one. >> that'

. >> we are going to kick things off with the ceo of the blackstone group.here followed by the chief financial officer morgan stanley. >> we will have jamie dimon. we will have sean penn, bob iger. we are only getting warmed up. death, i hope you get to do the sean penn interview. [laughter] -- steph, i hope you get to do the sean penn interview. [laughter] coming up, comcast is divesting 4 million customers to charter communications. u.s. agriculture secretary is joining us to talk about the rising cost of food in america. stay "in the loop." ♪ >> comcast announced it will divest 4 million subscribers to charter communications. is shaheedto discuss khan. shahid why does comcast want to get this deal done? is this the only way they can actually get the time warner deal done? >> this is a good move in that direction. the whole relationship between liberty and comcast reminds me from "sex and the city." >> [laughter] is where theyt all right now. it is a good combination price for charter. it is a very complex deal and very typical john malone. it really allow

and john blackstone with steve scotts who would likely be dead if not for an accident of timing in the landslide. >> reporter: you would have been on that roof, you would be gone.

funds and private equity firm so they have gone into communities, buy up these homes very cheap, blackstone bought 1,400 homes in atlanta in one day and start renting them back out to families. .. >> that's when the system collapsed, and now we have the rental back security, more or less exactly the same as a mortgage backed security, but rather than securitizing the underlying mortgage on the home, they are essentially using the rental streams paid by renting families. that pays back the bond. there's a lot of debate right now happening about this process, so what i wanted to get into, and i'll stick to the promise this is not a financial talk, but i want to just seal it down to is we are boom ranging out of the crisis. we are still seeing homes as market commodities. we are furthering financial speculation and final securitization in the housing market, and last, and certainly not least, we are seeing that these types of wall street driven market-based solutions are supposedly the only way we're going to get out of this mess, and if you have a question, like i did recently to a hedge fund

john blackstone returns to oso, washington. >> reporter: can you ever recover? >> will we ever be whole and well? no. >> pelley: the pentagon unveils atlas. david martin on what the military plans to do with one of the world's most advanced robots. and wyatt andrews introduced us to olivia mcconnell, an eight- year-old trying to herd dinosaurs in the south carolina legislature. >> if something's wrong i've got to help out. that's just the right thing to do. that's what i'm all about. captioning sponsored by cbs

john blackstone is on the scene in northern california. government seize your tax refund to pay your parents' old debt? wyatt andrews reports it happened to her. >> it's wrong, and it's not fair. >> pelley: teri okita on a 21st century range war. >> it's freedom and liberty and access to our land, and get rid of this abusive government. >> pelley: and steve hartman on the road. joe brown is a rock star in his world, but the beatles almost put him out of business. captioning sponsored by cbs this is the "cbs evening news" with scott pelley.

the company is backed by blackstone group.ust we, the big ipo was grubhub, the service that allows people to order a delivery online. the ceo spoke with the "market makers" team last friday. >> the reason we did the ipo was to gain exposure on the company. this is a massive marketplace. $70 billion spent annually on pickup and delivery in the u.s. alone, and only three percent is based online in any way. >> why would you want to price your deal at $835 price at a time when investors cannot seem to make 10% returns? you made 50% in 20 minutes. >> focusing on the innovation and the powerful two-sided network, we are showing how strong this industry is. we are accelerating through innovation very very rapidly. the ipo process was not necessarily about raising the cash. it is dry powder, in the bank. it is about exposure and showing the world what a powerful and simple business model we have built. >> you are right. grubhub is the leader in what is thus far a big industry. what are the barriers to entry? who might compete with the

the blackstone group continues to reduce its stake in the company. 26 minutes that they are.omberg television is on the markets. looking mixed. this is after the s&p closed, a new record high yesterday. we got better than expected numbers. private numbers. the report came in a little better than economists forecast. we will be focused now on the government report due out tomorrow morning. for aturn over to europe second. mario draghi is the head of the european central bank and will start his best conference any moment now. that will presumably start moving the euro, a little lower after drug he said benchmark interest rates in europe will be left unchanged despite the fact inflation is growing at its slowest pace in four years. the euro is a little bit weaker against the dollar. in asia, markets higher. againl be on the markets in 30 minutes. >> thank you. house of cards, homeland, audiences are eating up political dramas and comedies. this sunday, there will be more. >> i like to eat my mind on the campaign. >> can you imagine if i did that? i do not trust the chinese. >> r

some the larger chinese are not as blackstone. they are getting permission. they will be competing for businesses which they can then leverage in china. because of the chinese connections, there is a price to pay and it will be high. in certain sectors, you will see an increase in price. and frankly, you will see some of the western firms just price out in the market. >> they are obviously looking for strategic commodities as well. whether in canada, australia, the united states. we to producers. >> we have a large cattle farms. they want to buy beef. >> is it on the market? >> not at the moment. i will always listen. >> that was british financier, guy hans. portray between hong kong and the trade between hong kong and shanghai is soaring. we will talk about the winners and losers. tim. what are the implications across industries? is prettyit interesting. a couple of things with the take a look at. one is quite simply the discount or premium between a shares and eight shares. the stock eight shares are on the shanghai and eight shares are trading in hong kong

it was a blackstone owned hotel chain. we will continue to monitor that stock for you.arkets, u.s. stocks rebounded from two days of losses with two days of gains. treasuries snapped a four-day rally. prices are pushing yields up to 2.7 on temper their. a two-weeke from high and a lot of traders say they do not see a lot of up that -- upside for gold unless ukraine tensions flare up or escalate. the king of the u.s. currency, the dollar index fell to -- fell yesterday. we want to examine what is putting pressure on the dollar. here with us is joseph. what is going on with the dollar? what has been pushing it lower? few reasons, for a one being the cumulative effect of negative data we have seen. it fell short of analyst expectations. we saw that friday with the payroll report. just slightly. it was not terrible but people were expecting something bigger considering the slowness we saw in january and february. the euro has to rise for the dollar to fall. mario draghi tried and failed to talk down the euro as he had in the past. >> remarkable with the euro is mario draghi

cosmos, they were funded by blackstone partners.thad a lot of people knew about them because of their previous success. they'd worked together at a place called triton energy. >> these are very good people and finding offshore. >> yes. click so, you connect with them and the story that you thought you were going to tell, does it take a shift anywhere? you don't necessarily have the plan. >> the documentary filmmaker, you're having to deal with the unknown. you are taking what you can get to see how you can pull it together and turn it into a movie. kind of movie, everything is shifting. they are having to deal with the unknown and i am having to deal with the unknown. >> tell us about some of the people behind all of this. >> well, jim musselman is the ceo. i was really attracted to him as a character because he is a classic texas wildcatter. >> bigger than life? >> yes. he is very self-confident. he had big ideas and big hopes about what he was doing. ryan mac person is stead. then there were the militants in nigeria. >> how did yo

our partner, gso blackstone, gso is the credit platform for the blackstone group.with real size and scale. we'll be the third largest of the bdcs, a very interesting and unique story. >> critics would compare bdcs to what we used to call blank-check companies, where you raise a lot of money and invest in companies. or in different investments as you see fit, without really any rhyme or reason. you pick and choose opportunities as you find them. how do you find your opportunities? how do you pacify any concerns of investors that you can't spend the money or you're investing in the wrong things? >> well, kayla, this is a different kind of vehicle. we come to market. we've already invested our capital. so we're not doing a primary offering. so there's no capital to invest here. we're providing liquidity to our existing shareholders. on the investment side, we're really a middle-market lender, so in a time when there's some pressure in the banking community because of the regulatory changes, we're providing loans to american companies, middle-market american companies,

feels relaxed or not it is not easy to move illiquid assets if you are a black so -- if you are a blackstone group and one of the things we talked about was russia. impossible not to talk about russia. steve sits on an international advisory panel. that is a position he still holds. i want you to hear steve schwarzman talking about the rifts in russia and how he plans to respond. >> i think in the short term, other than if you are a market operator, which we are not, we buy assets on a longer-term basis as a rule in most of our businesses. it is time to watch. this can have a variety of from going back to business as usual or lurching off into some other direction. to make markets to make money. who is on the other side of the market? steve tannenbaum. at where gasu look is straining in the 400, and is -- in the risks, it steve tannenbaum said it is a 10 so it is a great value. it echoes what howard mark said to us last week. if you want to be an outstanding investor you cannot be part of the pack. you have to have strong convictionsto do -- and be willing to do what others .ren't willing to

>> some of the larger chinese forms are approaching blackstone.are getting permission to invest abroad. they will be competing for businesses which they can then leverage in china. because of their chinese connections, the price they are about to pay will be higher. in certain sectors, you will see ,n increase in price and frankly, you will see some of the western for -- firms priced out of the market. they're looking for strategic commodities as well. meat producers -- >> we have a large cattle farm in australia. >> looking very relaxed, pool-side. and look atith m&a the megadeal that has been put through. china, picking up a theme here. -- yesterday.e to >> low-cost operation. 400,000 tons a year. that puts us in the top three in the world's production. it has over 20 years life and it is below a dollar cash cost. is jesse. us now i want to pick up on that. he is spending more than some thought he would be paying for these assets. >> it is around a $5 billion mark. .ositive news pay have agreed to back $400 million in expenditures in the assets

. >>> i'm john blackstone in missoula. most planes are like this one, some 60 years old.ing up on morning fire forced >>> it's 8:25. time for some news headlines, an early morning fire forced nine people including seven children out of their san jose home. fire officials say it started in the garage at the townhome on moorings court around 3:30 a.m.. no one was hurt. >>> raymond shrimp boy choi is expected to plead not guilty in court today. he's accused of money laundering in the case that also ensnared state senator leland yee. his lawyer alleges entrapment by the fbi. >>> open late for tax deadline day -- ather... in just moment. both are open until 8:30 tonight. stay with us, traffic and weather in just a moment. ,,,, what... could... be... better... than... slice... after... slice... of... america's... best... sharp... cheddar? nothing. >>> good morning, it's still a slow crawl across the venetian bridge trying to get into martinez, southbound 680 there was that earlier crash all lanes are now back open. but look at that. slow on 780 and 680 itself. all right let's g

as for the bigger firms -- carlyle, blackstone, all publicly listed -- they have had to deal with thisgency for quite some time because they are publicly listed. they have compliance departments they have built up and are more tuned into got headlines. the firms have become very sophisticated in how they handle this is more of a concern for the sizable and midsize firms. alesci, thank you. for high school graduates and their parents, it is that time of year. colleges and universities around the nation have send out acceptance letters, and now it is time to take schools. iran education reporter janet lauren is tracking the trend for the full school year and she joins me now. good to see you again. is there less competition for the ivy leagues? >> this year you saw harvard's administrate drop slightly. rate droppeds slightly. harvard had a decrease in applications by about two percent but it is still tough to get into any of those schools. >> is an ivy league education so worth it? >> chances are if you go to one of those schools and qualify for financial aid, you're not paying the stick

charlie: carlyle group, blackstone, kkr, those are the stocks we should be showing right now on our screenhe stocks, there we go, apollo group, kkr, they are down. those are the stocks more of a hedge fund. these are private equity. they take pieces, this is what they traditionally do. basically took companies priva private, publicly traded companies themselves taking other companies private and at some point spin them out for a huge profit. there are some flies in the ointment. the favorable tax treatment they get to have. they carried interest is taxed at a capital gains rate as opposed to a physical income. that would be a negative on the stock. i am not saying it is happening, but i would tell you the notion that like the banks, private equity firms get roped into dodd-frank and considered systemically important institutions and then they come under the same capital requirements of other banks. you have two really pay attention. it was here, buy them, don't buy the traditional banks. they can lend, i know they can do all this stuff. liz: we had a feisty debate we refused to push all ov

. >> caller: jim, my question is on blackstone group. >> they're on fire.oing so many things right. i have to tell you, i really appreciate their work. let's go to andrew in california. andrew. >> caller: booyah from california, jim. >> nice. >> caller: my cousin and i watch your show. we love it. >> thank you. >> caller: question, speaking of love, luv, buy, sell, or hold? >> which one? which stock is that. southwest. okay. listen, this is really important. i like american. and i like delta and then i like continental and only then do i get to luv. it's not as good as the others. these stocks will rebound. if oil goes down, it will explode. let's go to addison in washington. >> caller: hello jim, thank you for all you do. >> my pleasure. >> caller: exp. >> eagle fematerials. if things are going to get better in housing. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >>> coming up, buckle your se seatbelts. revolutionary aircraft and deep pocketed clientele. there's plenty of potenti

sizable contingent on wall street, top hillary supporters, and they're all -- tony james over at blackstonethey're all over the place. and what they tell you when -- you know, they speak a lot, what they would tell you is that hillary really hasn't made up her mind just yet. >> i don't believe that. >> that's what they're saying. i do. and here's why. they are really worried about the popularity -- she is really worried about the popularity or the growing unpopularity of the president. >> whether she wants to be president or not. 2016 is really her own chance of -- >> we should point out that her husband wants her to be president. she's being prodded by chelsea who would like her to be president. a lot of confidantes want her to be president. when you talk to the folks, if they had to bet, she's going to run. she's still hesitating because of the guy in office right now. you know, think of it this way. take the disastrous rollout of obamacare, the fact the economy is weak though recovering. economic cycles last about seven years. the economic cycle of a weak recovery began 2009, 2010. it's

blackstone is selling another 15 million shares today in a secondary and they're giving up their controlling interest which i thought was notable. i don't like anything about it. i think it will make a new low from last year. >> barnes and noble getting hit hard. liberty media selling 90% of the stake in that company. steph? >> quite a reversal just three years ago they wanted to buy this company out right. i'm sure they made money in the transaction and the books and the nook, the combination, just not working. i think you're going see a big restructuring coming. >>> ten-year yield backing off 2.8% today but the big move could come tomorrow on the jobs report. "futures now" host is with us with more on that. jackie? >> that's right, good afternoon to you, scott. they will be watching that unemployment report tomorrow. they're going to want to know the bond investors and how the economy is doing. jeff kilberg, over to you, what are you doing with the jobs report? >> jackie, i was posed to sell with this momentum. as we tested 280 yet again it's been a monthly test i've since it cost ever off

he rejected blackstone's commentaries and spent the first couple of weeks it was supposed to be studying the law researching and writing a history of the jazz would order. they were not impressed. in the wake of his lecture close friends suggested that he might make a career of the pulpit trying to figure out a way to justify the fact that he had not progressed and is legal study. i don't think i would do for methodist preacher. i would not sue for the baptist because i dislike water and would fail as an episcopalian. his uncle was not particularly in new -- and used until the big go back to his legal studies. john wrote to his college girlfriend, they would spoil first class pre just make a third class lawyer of me. i alternate between weeks of sickness and months of my normal condition of chronic worthlessness. how hot it will end does not seem difficult to say. the only question is one of time i'll read the law and john doe and richard row as choir showplace the area forms that i have built upon my dreams. not the first person to have to get a law degree you had no interest in practic

shareholder blackstone continues reductions in the shareholding of the company. .lso of five back obviouslyues to have issues. has been trying to offer discounts to get people through the door. the movie called? >> i cannot believe anyone could go to seaworld and contribute to the slavery and torture of these there has to be something else going on there, too. >> i think that people -- look on the even before i had seen the blackfish, i was already horrified at what they do to the animals. after i watched it, i would never go again. enlightenment never fails to astound me. >> this is brendan by the way. >> i am just here to make fun of matt. >> number four, the manufacturer down. con edison. do not make me doubt it. semi conductor and technology signed a three-year contract with solar cell supplier. under the agreement, they are expected to produce 660 megawatts of solar cells. -- switzerland's second-largest bank reporting losses. credit suisse faced with more by the department of justice. >> barnes & noble down 13%. it will sell most of its stake in the struggling bookstore chain. liberty

look at a name like blackstone, for instance, bx. this was $35 at the beginning of march, and here we are down towards $29. kkr, january 26, and now 21. i think there are pockets of opportunities out there. i'd even throw yahoo! in this mix. i think that's getting oversold personally, right now, the way i'm looking at everything. i know this is tied to the ali baba, of course. but there's opportunities out there, scott. let's not put everything in the nasdaq together like it feels like we do at times. when you look at the nasdaq now, look at microsoft, still performs very nicely. intel, still performing very nicely. you look at the other names in tech -- hewlett-packard, ibm, they're not all being thrown out. qualcomm, as well. there are names that are high fliers, being sold. high-quality names not being sole. they can push these down even in markets like yesterday. >> i want to thank kenny and rick for being with us today, as well. >>> our next guest was on with us a few weeks ago, and he was growing increasingly worried about stoc