rocks that was black global leader of i share talking 's erik schatzker -- blackrock global leader ofhare talking to erik schatzker. vonnie: still ahead, oil splurging with $50 a barrel ahead of inventories. this is bloomberg. ♪ when you're on hold, your business is on hold. that's why comcast business doesn't leave you there. when you call, a small business expert will answer you in about 30 seconds. no annoying hold music. just a real person, real fast. whenever you need them. great, that's what i said. so your business can get back to business. sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. vonnie: live from bloomberg world headquarters in new york and london, i am vonnie quinn. nejra: and i am nejra cehic. oil approaching $50 a barrel, the latest industry data out in just seconds. julie hyman joins us with the latest. julie: as we await that data, we should note that industry data out last night showed a 7.6 million barrel drawdown in oil and we are seeing a drawdown can firm by the u.s. of nearly 3 million barrels

that is how we measure success, not do we beat the s&p 500. erik: and a zero interest rate world, can stocks and bonds deliver the income, the returns to me those liabilities which is a pension fund you are note -- you know you're going to have? theyer a 10 year period research has chance the government bonds give me the liability stream of any retiree. yields are 1% to 2% and it's hard to do that. on the other side you can meet your retirement as long as you time is long. people have 10, 20 year. time horizons they are 40 years old. they measure success on a daily basis. i think if we can get customers or investors to shift their focus from long -- to long-term, they can meet their goals. erik: but there is an entire industry call the financial services industry which is trying to get them to think differently. >> there is a lot of noise about what i should do today, what the fed my do, with the ecb might do. it's really hard for an investor to get that out of their mind and say, what is the problem i am solving for? the financial services industr

according to the f-b-i-- 33-year-old erik en-sense-ee-oh turned himself into u-s marshals today. authorities arrested 22 out of 24 people federally charged in a gang round-up yesterday. en-sense-ee-oh was one of the two not captured. the other suspect-- 30-year-old fabian melendez-- is still at the case against a former math teacher accused of child pornography. 68-year-old thomas defazio had recently been a volunteer at all saints academy in kenosha when he was charged with 10 counts of child pornography. today-- those charges were dropped. the court found based on the description in the criminal complaint and reasons set forth on the record -- that the case would be dismissed. the wisconsin department of transportation is urging drivers and pedestrians to be cautious at a popular det road. they say they've seen a lot of confusion at the cross walk right outside the milwaukee county zoo-- also known as the pedestrian- hybrid- beacon. it's now a busy area as people work to get around the new ramp closure from "i-41 southbound to 94 eastbound. the ramp will be closed until next we

according to the f-b-i-- 33-year-old erik en-sense-ee-oh turned himself into u-s marshals today. authorities arrested 22 out of 24 people round-up yesterday. en-sense-ee-oh was one of the two not captured. the other suspect-- 30-year-old fabian melendez-- is still at large. a brookfield woman accused of stealing and selling glasses frames from lenscrafters is now facing charges. lenscrafters started investigating their employee-- 43-year- old elaine king-- after noticing more than 300 pairs of glasses frames were missing. prosecutors say she admitted to stealing 15 to 20 frames a month over 3 years and selling them on e-bay. officials sa nearly 60-thousand dollars worth of merchandise stolen. new at 9:00 -- milwaukee police are investigating an incident at a gas station near 49th and lisbon. it happened last saturday around one in the morning. officials say two suspects were arguing with employees and stole food from the store. employees kicked them out and locked the store's doors. the suspects then left in a vehicle. witnesses say a couple minutes later-- a suspect came back to

according to the f-b-i-- 33-year-old erik en-sense-ee-oh turned himself into u-s marshals today. authorities arrested more than gang round-up yesterday. en-sense-ee-oh was one of the two not captured. the other suspect-- 30-year-old fabian melendez-- is still at large. officials seized weapons-- body armor-- and more than 40 pounds of marijuana and cocaine... from more than 20 different locations in racine and kenosha counties... as well as northern illinois. you decide coverage... bill clinton is coming to wisconsin. the former president will visit milwaukee tomorrow to promote early voting. he'll be at the international brotherhood of electrical workers union hall near 103rd and oklahoma. former arizona congresswoman gabby giffords makes a stop in milwaukee today. it's all part of a national bus tour highlighting the importance of being -- what she calls-- a gun violence prevention voter this election season. in 2011, giffords was left severely injured in a deadly shooting spree in tucson, arizona. giffords joined local leaders...including mayor tom barrett and state senator ch

and erik lindbergh--- tried to pull a man over... who was accused of s robberies. police say the suspect led them on a high speed chase--- from one end of town to another. they said he pulled out a gun... and thats when they shot him. the raiders are one step closer to calling las vegas home. governor brian sandoval is set to sign the special session bills tomorrow... after they were passed by state lawmakers. sandoval's signature will allow plans for an n-f-l stadium in the valley to move forward. and also makes way for the convention center. fox5 will be at u- n-l-v when the governor signs the bills tomorrow morning. "this is about our team, it's not a city thing, we're all raider fans, we're a family. one nation one family. yes. one nation one family. there was a lot of excitement coming from raiders fans during today's football game. even with a loss against kansas city... fans are still celebrating the possibility of their team calling las vegas home. the manager at the las vegas cantina says the move would help business at his bar... as well as sports bars an

s&p is 17 times. around 21.45.e erik: thank you for spending time with me. has lots ofan reasons to frown but when he talks about investment, you can see the smile on his face. vonnie: fascinating interview. more "bloomberg markets" straight ahead. ♪ vonnie: live from bloomberg world headquarters in new york and london, it is not always that brown, is it? ames. is a chilly th uk prime minister theresa may .ays grexit brexit a london court will decide if it is up to her to decide when the united kingdom leaves the european union. 50 ofay trigger article the treaty, which starts an exit without approval from lawmakers. it would force the issue in the house of commons and house of both were which were largely pro-eu -- aid for victims of hurricane in haiti. not fast enough. the humanitarian agents he has made an appeal for $120 million in aid, saying 750,000 people will need "life-saving assistance and protection in the next three months." visitingr merkel is ethiopia, meeting with the prime minister on issues including the newly declared a state of the. ethiop

. >> reporter: erik brynjolfsson is a professor at the massachusetts institute of technology and director of m.i.t.'s initiative on the digital economy. >> if you go to a place like china or vietnam, you see factories where there are thousands of people working side by side doing very routine work, very simple tasks. those are exactly the kinds of tasks that robots can do well. so, the ones that are being invented in south korea and around the world, those machines are getting cheaper and cheaper and more and more capable, and increasingly are going to replace the kind of human labor that has been powering the chinese industrial revival. >> reporter: this year in china, foxconn, a manufacturer that assembles apple iphones and other electronics, replaced 60,000 factory workers with robots. in the u.s., amazon bought the robotics company kiva for $775 million in 2012 and now has over 30,000 robots working in its fulfillment warehouses around the world. to sharpen south korea's competitive edge, the government and hyundai motor group are investing $76 million to build a smart factory complex, to digitiz

erik johnson and this is bloomberg. mark: let's get back to the south african rand. interest after smoned moments ago said the summons of finance minister isn't a huge surprise. there are concerns south africa's negative outlook rating could be cut. joining us now is head of emerging europe africa and middle east economics. perfect timing to come on in light of those comments. just to reiterate focus on south africa's economic. the rating remains stable. negative outlook. the summons is a distraction. it's not a huge surprise. next month is the biggie. could we here next month? medium-termeen budget statement on the 26th of october. that's what they will use to base their decisions. ofhave movies on the 25th november. i think if you ignore all the the positiveg on numbers look like a one off as some of the numbers move on. i think that will really highlight the lack of reformers in the budget. we were probably getting downgrades energy way. -- anyway. i think they can go early but not on this. be s&p doesn't want to dragged into this day-to-day commentary on what's going on. intentio

erik mcferran had a weapon permit to carry -- but was void because he intoxicated. "blow up the d-h- s." one woman is being charged with making a threat of terrorism. sarrina bancroft of iowa city made threats in person and over the phone. she also threatened to shoot inside the department of human services. authorities say she allegedly made threats because she was upset about a d-h-s case involving her. kim bradfield -- from janesville -- is expected to be ok. it could've been much worse. she was on 260th street in bremer county -- when there was a collision on the tracks. she was taken to the university of iowa hospitals and clinics, but again -- we're hearing she's expected to be ok. a man acquitted of murder earlier this year has been sentenced for something else. in august -- perquondis holmes was found not guilty in a shooting that happened 3 years ago. police say after the shooting happened -- he took off holmes entered an alford plea for avoiding an arrest. it's hard to tell how much time he'll serve for this conviction. he's been given credit for the nearly 3 years he spent i

s. "i can say with certainty that we took out the leadership and the greater chunk of the gang membership in the area." investigators are asking for help finding two of the gang's leaders. erik ynno-cen-cio and 30 year old fabian melendez. if you see them or know where call the f-b-i milwaukee division the city of milwaukee plans to distribute free water filters to low income families with small children.they'll go to homes built before 1951 ---- that have lead pipes connecting to a city ?water? main.the filters are being donated through a health care partnership--it includes the united way and aurora health care. coming up.. we go live to daytona beach ---- where nbc's jay gray has an update on hurricane matthew as it plus.... a recall alert for parents with young children. the dangerous product that may be in your house... and what you should do if you have one. more live at daybreak-- on today's tmj4 is next. let's take a live look outside despite clouds and scattered showers, yesterday was warm and humid with highs in the lower 70s. t'showers developed late last evening and overnight ahead of the cold for showers this morning, then it clears out for this afternoon. temps

erik: how would you describe your state of patience? are your l.p.'spartners, giving you the breathing space that you need to be patient, or do you feel like there's a fire under your behind and you have to invest, cause at what they hired you to do? tom: i think the only time we feel pressure to invest is when you see the broad credit markets trading at very high yields. the rest -- erik: like january or february? tom: people want to know what you're putting in your portfolio, the nature of the risk. at any other point, our investors want to know we're able to find interesting investments. they're comfortable with us being patient. that's an important part of pursuing a distressed strategy. there are points in time, like the present time, where you have to rely on a level of patience to wait for the next great opportunity. erik: you mentioned a number of sovereign opportunities, quasi sovereign, like puerto rico. is that where a distressed -- you've been in this market since the late 1990's. is that where you have to turn now? tom: it's a place where

s yet that will drive growth rates. it is just taking time, and that's fine. the economy is growing, consumers are spending, and we feel good about the u.s. erikzker also travel to austin, texas, this week for an exclusive interview with the technology's ceo, asking plans inell if he had mind, and he framed his answer in dramatic terms. a if you think about this as play, act i was to go private in 2013, right? act two is the combination of vmware. bmc's >> we have a few ideas. we are focused on dell, emc, and vmware. we see plenty of opportunity organically to consolidate. we're going to continue to make acquisitions, and alliances and partnerships are also important. have our program where we are investing in hundreds of are 24, 36,s that 48 months out in terms of the future. >> you have the desire, clearly, but also the financial flexibility and capacity to do these things? >> we do, yes. >> you >> we love being private. >> that's right. buying dmc is clearly a risk for a company. i'm wondering, what about now. risks do you look forward to taking that your competitors can't? as a privately controlled company, it is very different. reimagine

s&p for one indicator sold at 32 times earnings in 2000 and it is 19 today. there's a big difference between 19 and 32. erikout treasuries? ell, you see, i am funny that way. when i buy a bond, i don't think, what is it going to do tomorrow? i say, is it going to pay off? if you buy a treasure today to get 1.5%, if rates go up, you will have an interim price decline but you will not lose money if you don't sell it. if you buy it today at a yield of 1.5 and hold it to maturity, you will get paid as you expect and make 1.5%. the question is, do you want 1.5%? the strongest thing i argue is we should not by 1.5 to get 3%. 1.5, todayhappy with high-yield bonds yield .5. -- 5.5. if 5.5 plays a role in your portfolio, you can buy it. they may go down in the interim. there may be a better time to buy them later. if you buy them today and they turn out to be credit worthy, you will get your 5.5%. today, 5.5% is pretty good. >> people say we are in a bond bubble. what do you say? reason people say that is because everybody thinks everything is priced to perfection. if there is a problem, you're going to have real is

s. look at the seven-day outlook from st wednesday of next week. let's get a check of traffic moving through the thursday evening. here is erik smith. erik: thank you, steve. this will be a tough ride out there. this is just really slow for the soggy afternoon. zoom in on the toll road for the interloop. bridge through bethesda. not much letting up here for either direction at this time. the inner loop is worse. we take a look at the 295 in d.c. this is schloy for both directions. but northbound to the baltimore washington parkway. a ton of volume out of the city. that is all from the traffic center for now. back to you. michelle: thank you. today polls are open for early voting in maryland and the lines are already busy. as take part in the period. if you haven't registered yet, you can register in person at the voting location and then vote. early voting lasts until november 3. jonathan: former maryland governor and presidential candidate marty o'malley spent time campaigning for hillary clinton. he is leading a class at the american university. i appreciate you taking the time. >> thank you, jonathan. jonathan: the first question

1990's where certain parts of the markets got very expensive but there were other areas left for dead. we are shopping in those areas where people have thrown the baby out with the bathwater. erik is where the complexity comes into play. >> stay tuned thre. whom henry the guy kravitz goes to for advice, henry mcvey. mark, do you. mark: great dad that chat on the show today. fromg up, we will hear about the plans for the scandal plagued automaker is he prepares to become mitsubishi motors chairman. this is bloomberg. ♪ you are watching bloomberg. mark: this is your global business report. mcdonald's turnaround plans revving up. the company be sales estimates helped by international markets like the u.k. and canada. rnna,: deal of nissan and chang to step in as chairman of mitsubishi. ghosn taking a controlling stake in mitsubishi. mark: how a new generation of 3-d printers now in mass production could revolutionize many industries. nissan has completed its acquisition of tree $.3 billion stake in mitsubishi motors, clearing the way for carlos ghosn to take over as chairman. ghosn amateur minutes he your nissan and renault, tells bloomberg television he sees the alliance helping

s new effort,aby "the man who knew." francine: later today on bloomberg tv, michael dell joint erik schatzker from the world conference inis "bloomberg surveillance." i am francine lacqua and london. tom keene is in new york. let's get to the "numbered business flash." taylor: intel is signaling there will be lackluster demand this quarter for computers and servers. forecast sales may missed estimates. -- forecast sales may miss estimates. demand has not come back. the obama administration is proposing a sweeping package of consumer protection for airline passengers. travelers would get refunds when their bags arrive late, and there would have to be more transparency on ticket purchases involving online travel sites. a lobbying group says regulations would be bad for passengers and the economy. that is your bloomberg business flash. thanks so much. the book is "the man who knew." sebastian mallaby is with us. alan ruskin is with us from deutsche bank as well. your thoughts on brexit yak of you have such a heritage with your father, the diplomacy in europe, and with the united kingdom. out is sebastian mallaby? sebastian:

s&p. afterse a little softer five days of gain. at 103%.ess -- trading a important conversation with special guest, bloomberg's erik schatzker.m sandell, a part-time activist and value investor that runs sandell asset management. bob evans is a company that runs restaurants on the one hand, and makes more or less, frozen food on the other hand. that is the issue. you believe those two should be separate companies? tom: that is correct, erik. assets,e a lot of great a restaurant business that they are working on turning around. trying to turn around sales takes time. it has been three years, which i think is a fair amount of time without any result in terms of salesizing or improving at the restaurant. they also have a very bible packaged food business, and this is the interesting thing about bob evans -- if they were to separate the packaged food business, we would expect that thanvans is worth 15% more it is today. erik: the reason you and i are talking is because, it is than three years and it is time to raise the ane. getain what it would do to the company to break up? tom: shareholders can raise forr voice, and either vot