this left the re -- quote the newest tyco as a simple fire safety and security big.o see how much wealth the tyco breakups created, there is one more wrink of of one more spin, and that's when covidien itself spun off the business in order to being a meaner, more focused company, one that could be, as we said, when it happened more easily acquired by a medical device plan like medtronics, which is exactly what just happened today. sew let's put it together. when you add them up, covidien plus te connective, at vt, and the remaining tyco international you get $112.4 billion. remember the old tyco wall street worth -- so all these split-offs and mergers and split-ups have created 43.5 billion worth of value. you remember, that was this company. that was this company, and all they did was lines on a piece of paper. and it created that value. because to understand, you have to understand how covidien got to where it is right now. i've said this over and over and over again, it's much easier to get acquired when your snailer, more streamlined that's closer to a pure play.

you look at breakup of tyco, tyco, had a division called amp, a division in pennsylvania. thought amp was located in pennsylvania. that's wrong. it's switzerland. a town that apparently we bombed by mistake in world war ii. but i don't know, you see, i'm not sure exactly -- maybe that was a safe zone. i, again, this is an amazing thing. if you're in washington and watching the show, you'd be saying, what? we've got to stop this immediately. the irs is saying it's fine. but in the end, this was not -- somewhat driven by the idea that covidien has a terrific hospital business, you get a hold of hospitals. >> under aca, this is going to been more important, have a broader array and suite of products, so the devicemaker with all of the things that covidien makes, surgical supplies and like. >> that's why striker has to buy. you've explained this, as long as new companies, acquiring company, 20%. >> of the overall. that will be the case. covidien shareholders loan 23%. >> johnson & johnson can they do something? >> 30%. >> they may be too big to buy smith and nephew, if you str

it is hard to say who is looking forward to the reunion more him a the tiger -- moore, tyco or the pgaa look at the numbers. my mind is always blown by the fact you have tiger woods and no one else. >> these days, it is everyone else and not necessarily tiger woods. golf is at the same without tiger. ofis playing today because an affiliation with the charity. he is not doing well, either. she was absence from this year's masters. you saw it right away the tv ratings. the 2014 final round, seven point eight rating. 7.8% of u.s. households tuned in, the lowest since 1957. down 1/4 from 2013. tiger, his value is drawing in the casual viewer. when he is not there, people just are not interested. >> can you name five current golfers? mickelsonaldson, phil -- >> and that is it. >> two. >> out to say, given able to say phil for 30 years. >> i love watching him. what time does he play? >> what about three tiger contemporaries? >> that is the issue. tiger missed u.s. open and we saw the resell value of u.s. open passes plummet by almost half from the same time a year ago. just showing how much

so, for example, liberty global being removed, they are in the u.k., removed from the mussel, and tycoecause it was in switzerland, but the position of the russell is if the company's revenue comes from the united states, it's classified there even headquartered elsewhere. it's tricky to figure out, get involved in the politics of how to do this because, well, they have to make a decision on that. there's one. one thing more interesting is growth in value, 5 lot of interesting changes happening, primarily because the growth index had bad performers this year. a lot of retailers were considered growth stocks growing earnings. well, the earnings have fallen apart in the last year, and the stocks had terrible performances, bed bath & beyond. they play the style indexes, and the retailers are going out. on the other hand, a wllot of companies with value, bargain names like energy stocks, airline stocks, have had great years so far because earnings have suddenly accelerated. the value names will be put in growth categories, and people play growth versus value off, and it's interesting to se

interview to "06 minutes" complaining he'd been hustled by wall street, losing money in enron and tycoless nefarious. >> if you look around the room and can't find the mark, you're the mark. >> walters has been indicted four times for money laundering, three times for the same charge in nevada. nothing has ever stuck. paul basir is not surprised if walters is in trouble it's outside of sports betting. "no legal market is better policed and better understood than his sports handling." just like about everyone else he doesn't know walters but "if he was a bad guy i'd know about it. i've never heard a bad word about him." later we'll talk walters, vegas, mickelson and golf. >> just to make clear the reason why we're talking about this man this morning. >> because he did go back to wall street. >> no, he's related to the mickelson/icahn situation and i don't think we set that up to explain why we were going to see jane to talk about all this. >> we know that at this point. jane thank you very much. that does it for us today. join us tomorrow. right now it's time for "squawk on the street."

tyco is an extreme example. they play accounting games. >> first of all, it is run by mike pierson.spent 20 plus years running the health care at mckenzie. he understood the payers, and sexuality industry. he came up with a strategy he implemented the last six years at valeant. it is very thoughtful. he has pursued particular markets, particular geographies and particular dermatologist, ophthalmology areas. where there is less risk of government payors are less of a risk. he's in markets like eastern europe, which is less competitive. he focuses on durable products. the vast majority are companies with portfolios, patented products, so-called blockbusters. they spend a ton of money every year trying to come up with new blockbusters. he built a company that looks like colgate or procter & gamble than your typical pharmaceutical company. has he made a large number of acquisitions? yes. why has he made acquisitions that make sense. he runs a very low cost, zero based budgeting model. let me sort of make an analogy. burger king is controlled by the guys from 3g. they bought heinz. with

when it was tyco when it was kozlowski, man, but i like the business.lture. >> man he would have had even bigger party if he knew it was $42 billion. >> joe you got to credit covidien for making a quality company out of it. >> i agree. >> i did a leadership program a couple years ago, it's a whole different company today. >> bill george, thank you for your insight this morning. >> thank you. >> we're going to have a live report from the ground in iraq. where reports say another city has fallen to insurgents. plus we're going to welcome texas governor rick perry. the lone star state regularly ranked as a top state for businesses. take on the economy, politics, and more when "squawk box" comes right back. weekdays are for rising to the challenge. they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to

former tyco unit finds sensor maker measurement specificsties for $86 a share.er yesterday's close. measurement specialties makes sensors used in medical, industry and consumer applications. t-mobile offering potential new customers a one-week free trial. consumers can sign up online to get a free iphone 5s and pay nothing if they return the phone a week later. our own jon fortt spoke with the company ceo. we'll have highlights of that conversation. and pier 1 imports today, that company reported quarterly profit of 16 cents per share. missed estimates by four cents. also cut its outlook for the year because of what it's calling a highly promotional environment. >> the fed cutting an additional $10 billion from its bond buying program. our guest coast had some pretty strong views on the fed's tapering strategy. here's what he said in an investment conversation just last month. >> the federal reserve is actually causing more disorientation in the marketplace, because they're purchasing more than is being created by the treasury. and so -- and so i think they shou