by the city and they've been following the rules since then those controls will change the game midstream those folks spent money and time in the entitlement process playing by the rules and they're well into that this is a retroactive impediment i never thought that was a nearby undertaking and i think we're talking about by my counts fortune 4 hundred market rate units when you look at exhibit b if our executive summary so my ask you grandfather the projects that have a dea prior to today 0 people are not impacted ennecessarily by interim controls when nature is doing the right thing thank you for your time and consideration. >> good afternoon commissioners mary i'm speaking a concerned citizen and on behalf of other concerned citizens that can't be here i don't want to go into a litany of problems but talk about solutions i'd like to suggest we support campos regulars with the analysis of the conditions are now we actually have no idea how many of those new housing or housing is actually occupied by residents anymore we need to find out what is happening with the housing being built an

the iranians are upset saying that you can not change midstream.have until monday, july 13 to give themselves additional time to salvage the talks. you have a feeling that it is now naked or break it. foreign ministers will be gathering this weekend, trying to work out the kinks. know based on what you about the negotiations, what would it take to support them? >> the question in my mind, is what is in the minds of the iranian supreme leader? last-minuted in a brinksmanship to bring in a last-minute humiliating concession of the united states? to get conventional arms and -- or has he run up against the fundamental ideological core of the regime, which we see is chantingran an death to united states, and he cannot sign on the line? pimm: can you read the quote from the former chief of staff having to do with the benefits of an iranian nuclear deal? he said we need to re-examine all of the relationships we enjoy, particularly with sunni dominated nation's. that we might better balance our relationships across the secretary and divide -- our efforts

suggested chesapeake could sell it self to possible suitors like exxon or conoco phillips to ease that midstream burden. it reiterates and outperform as well as a price target of $19. becauseing, travelers bank of america and merrill lynch upgraded it. the bank says it's underperformance actually makes it a good by. walgreens alliance is rising today. this is a three month high. year to date is up more than 20%, and this is the largest u.s. drugstore chain q3 earnings. that was according to bloomberg analysts. its yearlyed forecast as high as three dollars and $.80 a share -- $3.80 a share. a very good day across the markets and these individual stocks. scarlet: we will see how long it lasts. pimm: still ahead on the bloomberg market day, we will be going out west to sun valley, idaho, where media and technology moguls are gathering. the latest will get on any potential deals that are brewing. ♪ ♪ welcome back to the bloomberg market day. with a shot of manhattan, all looking self toward the statue of liberty. scarlet: it is hazy. we have some breaking news in the world of tennis. pimm: i know y

you cannot change horses in midstream. speaking a few minutes ago. you can see him talking live. the talks and the end of works than once again until tomorrow -- talks indiana were extended vienna were the en extended once again until tomorrow. the confederate flag will come down tomorrow morning and be shifted to the confederate relic room. the house doing the senate and agreed to remove the flag after 13 hours of debate. ryanair said to offer free domestic flights to greek travelers. they plan to waive charges for two weeks dependent on the collaboration of aviation authorities and athens airport. the flights could start netsuite -- next week. that's one of those things they promise, but to execute it come all these other things have to happen. matt: i would apply anywhere for free -- fly anywhere for free as long as i could check my bags at no cost. airlines drive all the luggage to carry on and you have to wait because there's too many carry-ons. when will they wise up? coming up, insurers across the board are consolidating from health care to property and auto. hubb by ace,i

we have a deal in the midstream pipeline area.ion is we're talking about marathon petroleum expanding the midstream footprint with the merger of a partner. what i hear is accretion, absolute absolute absolutely? stra strategic, some people questioning that. this company is processing in pipelines and natural gas. >> this is a drop down from marathon pete. drop downs typically the parent does well. they are the guys who really kind of some people would think own the mar sell la shell, ohio and pennsylvania. this is high quality natural gas. we are seeing consolidation in this industry that's unprecedented. we're not going to get a lot of pipeline competition. prices have gotten so low that people can't build out the pipelines they'd like to. instead they buy other pipelines. it's a smart deal for mark west to sell out here. >> interestingly, you sell out kinder may have been interested from what i hear but that's a c corp. you'd have to pay taxes. another mlb, it's much more tax deals? >> i'm excited. it says there's a pulse here.

or how you would've not had wanted to change forces in midstream at that point if you had been forced to do so. the third plank i talk about about is rebuilding our national defense. there used to be something called scuba jackson. he ran for president and was a strong defense democrat. he brought a measure of relief and freedom and he was often called the senator from boeing because he strongly believed in everything that could fly and bomb. he lived on because the reagans were the continuation of him and they came into our party. my book, the queen, which you can of course buy at amazon.com barnesandnoble.com says she ought to run seriously on a platform of rebuilding as jimmy carter did. in 1979 to 1980 it was led by then secretary of the fence bill brown. it was encouraged by jimmy carter. that is not happening right now. when i went to the retirement ceremony, it was great, there were people like me and there was the speaker of the assembly of california. there were democrat and republicans at the retirement retirement of a lawyer. wouldn't it be great if everyone could serve tha

nice profits in growth in the midstream business and the integration of the acquisition going well andhere obviously these types of macroevents matter and on the increase on the commodity side you see nice resilience on the headwinds and the aluminum business in the first better than the first half of 2007 and the primary business was resilient in spite of 20%, and then you see a nice productivity and you see good -- good cash flow, right? so that's what you're seeing and i agree with you. we're moving along the line of what i've always talked about the transformation of alcoa andmore value add and becoming a lightweight metals expert while we are increasing the compiveness of the commodity business. >> we're in the final lengths of the rti acquisition. i know you talk about 2017 accretive gain but what i need to know is say you're using 2014 revenue mix and aerospace is 51. when you close rti could aerospace, which is regarded even -- i know you had to downgrade it by a percent, but aerospace is still in the major secular growth mode. what percentage of alcoa at this time next year wi

square can't filed for an ipo and then swap ceo's midstream.hat means we are going to hear about a new twitter ceo very soon. >>> chinese stock markets crumpled overnight. ever course, as we pointed out in the past government's aren't supposed to prop up stocks chb. the shining high index fell 8.5% overnight. >>> almost nobody in america has money in the shanghai stock exchange but we still care because instability in china is not good for anyone. kris and laura -- or laura and sam, i'm sorry. >>> middle class consumers so important in china because they buy our products among other things. >> yes. we want their stock market to work as reliably as it can. up down that doesn't matter. reliable, that's what matters. >> i thinkul e concerned about the rising popularity of e-cigarettes. they think the devices may erase the progress made in in reducing teen smoking. a new study looked at data from more than 2,000 high schoolers. a fourth said they tried e-cigarettes and almost 10% are current users. that's nearly double the number of teens who smoke

mlps, midstream mlps, juicy yields, very good cash flow and raising distributions in our portfolio 10%15% per year. large cap stocks that are trading two to three multiple points cheap. talking pharmaceuticals, any company that uses oil and natural gas as an input. i saw one of your trading ideas was one of those chemical companies, a u.s. company but there are plenty of europeans and health care and i think i said that and consumer staples. >> i was going to say so it sounds like you're not looking for much out of the u.s. between now and the end of the year. you're more in the goldman camp looking for a flat second half? >> the way i look at it is this, at the start of every year you have about a two or 2.25% dividend growth and the share count is declining rapidly in the united states. you get share buy-backs and m&a activity taking the share out and increasings earnings by another 4%. you have a 6% picture in the u.s. a little revenue growth from gdp and then you're at a 10% rate of return. i'm probably in that camp. get another 4% to 5% the rest of the year. >> this is a guy who k

midstream companies have to diversify.here are opportunities for scale in those businesses as well. i would say oil might be near the bottom. some might look at that as time to buy. private equity likes price of oil. masters at buying in the cycle. iran probably add as million barrels a day. couple years to get there. futures are up a little bit. not a long-term factor i think. maria: what does your gut tell you about the chinese company acquiring micron? us did the deal happen? dagen made at point this will be hard to go through. >> you have a regulatory impact. last big independent company out there. maria: cypress did a deal recently. whole industry. >> look at relationships with the united states and china particularly on issues of technology influenced by whole sigher thing i think tough to get it done. maria: thanks for coming on. very much jenna rhett. ey. we're following breaking news. press conference in reenthat underway. president john kerry will not speak until president obama speaks. we're expecting that at 7:

highway trust fund is not fixed by july 31 the department will have to stop construction projects midstream within weeks. this would be devastating for the state's economy for the people employed in these good-paying construction jobs, and for the transportation infrastructure in desperate need of repair around rehabilitation. the lack of consistent multiyear funding for the highway trust fund makes it so difficult for states to plan causes construction companies to delay hiring workers and costs the government more in the long run due to the uncertainty of funding. according to the american association of state highway and transportation officials the states of arkansas, georgia tennessee, utah, and wyoming are among those that have already postponed bidding on major transportation projects due to the uncertainty of federal funding. mr. president, while i feel i have no choice but to support a short-term patch to prevent the highway trust fund from expiring late this week, this short-term approach is not the answer. it needs to stop being the norm. it epitomizes congress' failure to govern

4.4 million barrels 4.4 million barrels -- 4.4 million barrels due to congestion and changes in midstream infrastructure. and this is one of the reasons why i've been banging the lectern here and senator cantwell my ranking member on the energy committee has also been joining me and saying this is not -- this is not appropriate for us to be doing this. we've got significant maintenance issues within the spro that we need to address. somewhere between $1.5 billion and $2 billion that is -- it's going to take to address some of the shortcomings that we have within the spro, the maintenance and operations aspect of it. there's a study underway as we speak to determine the right size of the strategic petroleum reserve, what we need to do in terms of maintenance. but if we go ahead and we sell off 60% of what we have done historically throughout the whole lifetime of the spro to fund a highway bill for six years again it just causes you to wonder why are we doing this. again, the strategic environment and the drawdown capacity that we have. we've got -- we've got a pretty volatile world out th

steve, richard haas late yesterday afternoon accused of the germans of changing all the rules midstreamrom the -- with the greekdz. they did drive a hard bargain. at the end of the day, there just wasn't a deal the greeks could refuse was there? >> the history here of course, is greece has been bailed out twice before and they have yet to live up to the commitments they made. so this time the germans said you have to do this literally in 72 hours. so there is no trust. and germany drove a -- took a very hard line. they drove a very hard bargain. the second lesson of this of course is that the greek referendum referendum, the one that the no vote in which -- that led to all this commotion and turned out to actually cost the greeks because the conditions that are are being imposed on them now are actually tougher than the conditions that they could have agreed to back on june 30th before these last two weeks of commotion began. i think it's the right things for greece to force the reforms. but it also shows once and for all that if there's any doubt who is running europe it's the germans.

so when we see him in the debates, and when we see him in '65, he's right in midstream. he's going through a great transition. you can see, although he disagrees with baldwin's assessment of what happens he agrees it's degrading and humiliating, and he's willing to grant the psychological case that baldwin is making. now ironically, the civil rights act of '64 and the voting rights act of '65, they hardly being passed when the american conservative movement became great supporters of them. and the reason for that with uz because they insisted on the idea of prohibiting discrimination on grounds of rights. it's immediately after that in the late '60s that affirmative action programs started. affirmative action is another highly highly contentious issues because it brings to question competing definitions of equality just as we can argue about what freedom means, so we can argue what equality actually means. the supporters of affirmative action said because of acceptability centuries of discrimination, affirmative action programs are necessary to create an equilibrium for

. >> our rational strategy is focused on midstream assets in key countries which are full of growth infrastructuresnd as of today we are in america, in peru, chile, mexico, the european union and at the same time also in the project of the transatlantic pipeline. >> thank you for being with us this morning. >> still to come on the show as commodities continue to slide we get technical analysis on the prospects for gold and copper. that's coming up. stay tuned. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? >> sap posting a mixed bag of earnings with revenue in demand for its cloud software. >> gold has fallen and it can't get up. down 8 straight sessions hitting a five year low in yesterday's trade. seeing a bit of buy in today's trade up by 1%. let's talk about where gold goes from here. i'm so glad you're joining us because to every trade there's a fundamental and technical reason. on the fundamental side of gold one would say fed policy a

i think you'll continue to see producers and midstream providers try to trim variable extension.ant. i think you'll see more focus on balance sheets. >> as you speak, wti crude goes negative again trading in the $48 a barrel range. thank you for joining us. >> stragd aheadight ahead amazon. and jeff bezos becoming the fifth richest person in the world. what is he doing right? more on amazon after the break. can it make a dentist appointment when my teeth are ready? ♪ ♪ can it tell the doctor how long you have to wear this thing? ♪ ♪ can it tell the flight attendant to please not wake me this time? ♪ ♪ the answer is yes, it can. so, the question your customers are really asking is can your business deliver? >>> he's your news update at this hour. louisiana authorities have identified john russell houser 59 of alabama as the expected gunman who opened fire killing two and wounding nine others. he's been described as a drifter whose escape plan was thwarted by police. he killed himself. a major power outage at la guardia this morning. power went out at 4:30 this morning. a contracto

so when we see him in the debates, and when we see him in '65, he's right in midstream. he's going through a great transition. you can see, although he disagrees with baldwin's assessment of what happens he agrees it's degrading and humiliating, and he's willing to grant the psychological case that baldwin is making. now ironically, the civil rights act of '64 and the voting rights act of '65, they hardly being passed when the american conservative movement became great supporters of them. and the reason for that with uz because they insisted on the idea of prohibiting discrimination on grounds of rights. it's immediately after that in the late '60s that affirmative action programs started. affirmative action is another highly highly contentious issues because it brings to question competing definitions of equality just as we can argue about what freedom means, so we can argue what equality actually means. the supporters of affirmative action said because of acceptability centuries of discrimination, affirmative action programs are necessary to create an equilibrium for

for the country two campaign in the middle or how you would i'm not appointed to changes forces midstream if you have been forced to do so. the third plank i talk about his rebuilding our national defense. there used to be something called scoop jackson democrats and i'm sure a few of you are old enough to remove her scoop jackson for her he ran for president 1970, the first and i was ever involved in three he was drunk democrat the author of the jackson moment which brought soviet jews a measure of relief and freedom and was often called the senator from boeing because he believed in buying everything that-- [inaudible] >> scoop jackson lives on in the reagan democrats were the scoop jackson democrats who were disenchanted with jimmy carter in 1978, 1970 and 1979 and akin to our party turned in my book "the queen", which, of course. you can buy at amazon.com, barnes & noble.com. says that she ought to ron on a platform of rebuilding as jimmy carter did in 1980. i'm sure general spiese will remember the turnaround that occurred in 19791980 that was led by then secretary of defense harold

you're changing essential this in midstream and that's unfair.change it proactive -- charles: wouldn't be the first time. we changed the rules with general motors bonds. we changed rules -- >> that was incredibly unfair. incredibly unfair. charles: that is is unfair. that is how you build 72 billion in debt in the first place. who regulates that, these promises? gdp is 72%. the debt is 72%. is that the magic number, 100% debt-to-gdp? is that the red flag. >> we don't have states anywhere near this level obviously. part of that because puerto rico's economy is not commensurate with any state economy. it's a very very weak economy. >> the thing is when you have bankruptcies in california watch who fights it? unions and pension funds right? a real sticky wicket. charles: why hillary clinton stopped short saying do it with states. steve, thank you. cheryl, what are you watching? >> charles i want to show you some companies in this country that have the most exposure revenuewise to china. a couple of them are really getting hammered. this is wynn reso

- is compromised because of some of the issues that we talked about earlier, which is changes in midstream infrastructure congestions in the system. so when you talk about our ability to respond we're limited. so if congress is going to sell any oil from the spro -- and i'm not suggesting that this is a good idea -- one of the things that we must do is that we should agree that any proceeds would first be used to pay for upgrading the reserve itself, pay for the modernization help to ensure that it has the ability to do that which we have tasked it to do. it needs significant modifications to preserve its long-term viability and to ensure that it can truly move the oil in the event of an emergency whether it's a natural disaster or whether it's a terrorist threat or a war. but it would be a travesty, mr. president if we were to dramatically reduce the size of the strategic petroleum reserve while we continue to ignore its maintenance and its operational needs. the strategic petroleum reserve must be modernized for the 2 2 1st century. its size, its geographic disposition, the quality of oi

. >> you know that being a championship team, it's kind of tough to schangchange midstream.to watch out for is carlie lloyd. the other thing you need to watch for the united states is they need to change their physicality with japan. we have a huge advantage size sizewise. saying that, japan is extremely quick. when you defend japan, you have to defend them outside in so the outside backs will be tight on the line, using the line as help, and then funneling in the middle and trying to turn it over from there. >> so watch the middle. bruce, thank you so much. i know you're hailing from washington, d.c. i said los angeles. and i was looking over your shoulder going, he's in l.a. but he's got the capital over his shoulder. he's a very patriotic guy. thank you so much bruce, and then, a real pleasure to meet you. >> likewise. >> don't forget you can catch usa versus japan live on telemundo 7:00 p.m. eastern, 4:00 p.m. pacific. >>> wimbledon's sibling showdown between serena and venus, the williams sisters. this will be the first time the sisters will meet in a grand slam match.

highway trust fund is not fixed by july 31 the department will have to stop construction projects midstream within weeks. this would be devastating for the state's economy for the people employed in these good-paying construction jobs, and for the transportation infrastructure in desperate need of repair around rehabilitation. the lack of consistent multiyear funding for the highway trust fund makes it so difficult for states to plan causes construction companies to delay hiring