>> i think this makes a lot of sense for fox. what jeff bewkes has done is increase for time warner. for fox, it makes sense. they are pushing back on closing a deal at this point. >> you've been reporting on this from the very beginning. give us some of the details. >> it starts with a friendly lunch in new york in early june, if you will. chase dropped the idea on him of a big merger and bewkes raises three big issues. your contract is up in 18 months. my shareholders will have a concern about the structure in place at fox. heard, with the future for cnn? they don't ever get any feedback from the ceo. finally, they send a letter on june 24 from rupert murdoch addressing those concerns. we will sell off cnn right up front. second, we don't think your shareholders world care about the dual voting structure. we will extend his contract to the end of 2016 if need be. they addressed the issues but never got any feedback until they were told in a terse two second email that they were not interested. >> let's talk about the future of c

the uspto has a lot of data. the first time, we're able to go over that data, review that data, and see how the examiners reviewed the patents at every phase of the examination. >> there was a time when patents were not seen as such an incredible, obvious challenge. president obama actually mentioning it in the state of the union. that highlighted -- take a listen. >> let's pass a patent reform bill that allows our businesses to stay focused on innovation, not costly and need this litigation. >> it is kind of amazing how relevant this issue is. i wonder if the 20 have in your timeframe of patents needs to change now because innovations happen so quickly. >> that is true. but you have to keep in mind that there are many industries for which a 20 have in your term is justified and needed. for example, lot of the biotech and pharmaceutical companies are they put hundreds of millions of dollars invested into developing and getting fda approval for new drug. to recoup their investment, they need longer-term protection.

we have been learning a lot from our users. eginning of the year we personalize the experience to have a mobile specific, web specific and tablet specific experience without an actual app. now we have come out with an app. this will only continue to get more and more mobile. a qbo and theyt will pay for it. irobot was also started at m.i.t. what kind of advantages does this kind of funding give you over traditional methods of funding? >> for us, it really came down to a way of showing real validation. has been a lot of talk about robots coming into the home. but are people really ready for it? people are really ready to have a robot in the home. it was also a way for us to engage our developer community. we want to be able to build a community of developers that can help us expand the skill sets and the value the robot can provide to people. people can see the enthusiasm for consumers and developers. companies and other institutions are approaching and saying, you are coming up with something really fascinating and exciting. we

we always have a lot of members, which is fantastic. we were given the opportunity to brief the waste water cac at the last meeting and they gave updates on the key projects and it was a fantastic time to get face time with that group. tours, presentations, we're still keeping along on that. work force development, this is the third year we've had our ssip internship running and we have -- a lot of student have been returning each year. some we have -- there's third year and they're attending the meeting today so i want to see -- students can you stand up for a second. >> they look so mature, it's hard to believe they're students. we have some enrolled with the hopes that some want to be engineers or communication people. we love having them be apart of the group. very organized, been attending a lot of different meetings with us. i've been explaining a lot of what we do is meetings. contractors assistant center, as i mentioned, we have two infrastructure training and we have seven primes attend which is fantastic. we had members of the

he learned a lot.e suffered the defeat of al-qaeda when the tribal leaders rallied behind the government, and mor more or less abandoned the resistence. he has seen a lot inside iraq. i think he found his moment when syria opened up. he rebuilt and regrouped, and he obviously is extreme ly calculating. he has not only the division but the political leadership. every move he has made so far indicates that he is not just a terrorist running around throwing bombs. he's calculating, running corporationing bringing in the men around him whether they're al-qaeda followers or not. >> it sounds like you assess him as a formidable character, more dangerous? >> i looked at that sermon carefully. every single move the symbolism that he is betraying, the way he did it through his speech, and the fact that he managed to build all this in two years and then storm into mosul, and now projecting to the future, declaring that he is the caliph. he is going to attract thousands and thousands of iraqis to follow him. this

silicon valley is getting a lot of -- the target of a lot of ire. your point of view on that and how do we address it? long op-ed in "the new york times" on how this is the issue of our time. some folks have had the opportunity to do very well. others have been laid off, technology has disrupted their lives. the question is how do we have an honest conversation about it. what are the jobs that we can keep your? -- here? to do we prepare people operate cnc machines or advanced robotics and have the jobs that actually will exist? the average employee at apple computers produces $2 million of revenue for the company. the average employee at mcdonald's produces about $67,000. it used to be in the country if you wanted to get rich, you had to hire a lot of people. that's no longer the case with automation. how with automation are we going to prepare folks for the skills they will need to operate machines? >> how? it sounds like what you are suggesting is education, skills, recognizing some people will switch jobs, lose jobs over and over again, so give t

charles: thanks a lot. here it is, the big story, a major milestone is finally broken, 17,000 the uncharted territories. first time ever. the driving factor, the jobs report. 288,000, the unemployment rate dropped. the job participation near 35, 36 year low, people giving up hope. is this the new normal? president obama taking big hits in a bold way. worst president since world war ii? he attacks wall street. thousands of illegal immigrants crossing the border. and tensions remain high. stay right here. two hours of "varney and company" starts right now. >> and crossing 17,000 first-time. the dow is at 17,043. the s&p, the is in the 500 at a new high, record high. stuart varney says it feels like the market wants to build. a pretty good move taking it on the chin pretty good. ten year, 2.7% on the yield. now to the individual stocks, goldman sachs leading financials, the rally is one of the big reasons, industrials and banks leading, 17,000 and lulu lemon on top of a buyout and that making the good move up $

and they were all excited at this point they were having a lot and a lot of fun. we go to a market and as soon as we get out of the van, all of these people just approaches everybody, hey, hey, buy this, we got this, and where are you from? you are from america? see what i got, see what i got. and the thing that really got them, that like really got to them is when they got into the market and all of these people are coming up to them and you say no, i want to see what she has. or everybody else that was trying to get a sale from actually helped that person get a sale from me and not really asked for anything in return, and it was like, wow. why are they helping this person and they need to get, you know, they need to make a living and so while aren't they trying to get me to go to them? and to see them work together. was like mind blowing to them and they had a really good time. and from there, we went to cape coast. it was the main reason why we went out there to see the historical part as far as slavery. and on our way to cape coast we stopped at a village wher

you make a lot of money hacking companies. one of those things that maybe this is a regional collaboration that we do. but for a lot of kids at the media lab to spend their whole life to figure out disruptive ways to do regulatory changes. google does talk to us about that stuff, but i think that's -- we should do more of that. >> next question? >> good evening. >> i was very exciting by the conversation about the university future, and how you need to bring the element of -- social element of cooperation into that -- and it reminded me of this conversation i had with one of the professors at stan form in the department of education that we were talking, what is really needs is teach people how to connect the dots and how to synthesize information coming at them and picking up the writing and connecting the dots. one thing that was very interesting was, i remembered the leadership class i took 30 years ago at hp, they gave us different information to five of us without us knowing it, and said come up with an answer, and we were

i have seen a lot of my friends, family, community members being evicted in a very fast rate. it's really depressing to see so many people like me being kicked out of their home established in this city. i have a sister with cerebral palsy and to know that senior citizens and people with disabilities are being kicked out the most and it's very scary that it will happen to me. we have been kicked out a couple times from my house and we had to live in my dad's friends house and there was no lighting and we weren't even able to cook. i don't want that to happen to anyone else. even though we qualify for affordable housing including poor working class and middle class, we need to make changes in our community. i don't want to be kicked out of my city where i have been actively doing a lot of work and where i have seen my friends and colleagues growing up. i want to make sure that everyone knows that i'm supporting the community housing balance. i appreciate all the time that you have taken. >> thank you for being here. >> hello. my make the is eric woo. i'm here to speak on this.

we don't do a lot of events through the year. we're a small winery, just myself and my wife, two part-time employees. we're very picky. this was not just the wine event, but the combination of food and art and celebrating something we were supportive of. it's been something we look forward to doing every year. >> what is it about that, do you understand people going from booth to booth, tasting these great whines, that we're novices to the questions we're asking about the wine? >> i think people, you know, really go the full gamut. there are definitely experts who know a lot about wine and there's people who are learning. maybe the first time you've been doing a wine tasting event. the thing i liked about this evening is it's such a great community event. and with everything else going on with the music and the art there, people aren't intimidated by the wine. if they don't know a lot, they feel more comfortable to ask questions and, of course, the winemakers are there which is a great group of people to learn from. and then if yo

it is a lot of work launching a new franchise. up to seven games every sunday of nfl football. we have to do that and addition of thursday night. wednesday after the super bowl, it has been 85% of my job just on thursday night football. new graphics, new music, new technical facilities. we are using more equipment on thursday night game and use on any other game on cbs other than the super bowl. it is a huge commitment. >> in terms of numbers, the thursday night game on the nfl network was averaging somewhere between 6 million and 8 million. thursday night on cbs are pulling in much larger audiences. you have any expectations on how many people will turne in? >> i think the ratings will be really good. we have significant divisional matchups. i think we will have great ratings. it depends on how good the game is. if you have a competitive game at 11:00 in the fourth quarter, the people will grow. >> thursday night for cbs is a one-year deal. you guys were totally fine with that. is there anything that would prohibit you from say e

>> well, first of all, there's a lot of questions. what were they doing? it's kind of creepy, this company, which had a benign reputation, would be manipulating people's emotions for their own curiosity. what are they going to do with the data? and why did they do to it? at this point it is generating a lot of questions. in don't seem to mind. stock price have gone up since this came out. >> and considering changing policies on chain stores. what's going on with that? >> the rules for formula retail were put in place 10 years ago. they have been amended, tweaked and changed and it's a hodgepodge. the city has done an analysis. they found it is reducing economic activity. it is raising prices because the smaller stores aren't as competitive pricewise. the board of supervisors is going to be voting on package of changes to that. very controversial. people like the unique character of their neighborhood. they don't want a lot of chain stores coming in changing that. >> in the meantime, there is the argument for economic growth. >> and diversity. they higher a

so you like fish a lot? >> i do. huge fish fan. i'm actually just gonna use my hands. >> so how do you grade the food? >> when i first get a dish, i first kind of look at the presentation and see kind of what feeling it gives me, how i'm meant to eat it, how big it is in comparison to the price, and then i'll take a bite of it. i'll write down some initial thoughts. then i'll take some more bites, and i'll finish the dish, and at the end, i'll give a more kind of in-depth review of it. >> to be a food critic, eating is only half the job. the other part is writing about it. david takes notes during his meal to remember the special details. >> so, hannah, what do you taste in the dish? >> i really like it. i like the sauce, and i like the fish a lot. what about you? >> one thing i like -- i mean, i love the fish in the dish. a really key thing about this dish is how the flavors kind of interact with each other. it sort of, to me, tastes the best when you eat it, like, all, like, with the -- combine it with the guacamole, combine it wi

a lot of brain power attention. because i think ooh lot of stuff that's screwed up whether it's network security or fridge i willty -- and i'm on the auditing -- of "the new york times" which gives me whether it's viewible or non-vuble our system is so when people start saying why don't we just start doing this? >> well, i agree with everything you said about bit coin. but one thing i think is important to add to that view is part of the notion is that if you can create an effectively network-distributed trust system where the trust redecides in the network and all the network, not just one node of authority. that allows a lot of new innovation. now ledger is one absolute -- but bit coin you think about how d.n.a. should work. did a bunch of potential unlockings by having the network be the authority. >> yep. and i think that's right. and i think a lot of us have thought. i was on the board and we thought a lot about d.n.s. and trust. but it's -- it definitely lights a fire under it when there's more money under it.

john battelle, you have put a lot of thought into this over the years. er the last year in particular, what is the biggest challenge that has emerged when it comes to building a media company people a want to consume -- actually want to consume? >> first of all, their extraordinary complexity to the media companies. you have to think not just about one or two distribution channels, but 10 or 20, not just mobile distributional, but apple, android -- 10 different flavors of android, cross-section with so many different devices. how will you present the different pieces of glass as small as a watch, as large as a tablet and even now as large as television, right? complexity means cost, and the economics of them media business, as you know, martin. -- our same. we have managed to lose the --cept of form and addition a thing, a media object to make complete object has been lost, and instead it is a stream. dipping ineat for and out of but they do not create an experience and a brand. >> you make a great metaphor in a long post causing -- calling a good piece l

it is obviously transformed a lot of parts of our life. there are 40-50 decisions a typical farmer will make over the course of a season. the goal is to take a lot of the guesswork out of that and provide with actionable intelligence. life they had a testy relationship with farmers. are they as bad as people make them out to be? >> depends on the criticism. doingill sue farmers for things like replanting seeds from a genetically modified crop area what they will say in response is they only do those farmers who are being egregious about it. it is not organic farmers accidentally pollinated by these cross third is farmers trying to get it vantage -- get advantage of this without paying the premium for them. agreed with the company. christ doesn't hurt them financially when it happened? let's not a lot hurt them financially. they have done incredibly well. they were spun off and left for dead around 2000 after a merger. up 2.5hen, net income is dan. stock market evaluation is lay-up. they're doing quite well. >> you spent a lot of time with t

a lot of business people on it. a lot of nationals, a lot of demand for access to the area.t rebels and the russians as if they're two parts of this conflict. that's an incredibly pourous area. russia doesn't quite end. goes right into this disputed area of ukraine because the rebels are acting as proxies for the russian. highly sympathetic to the russians, one in the same. >> we're continuing to watch what -- what a news day. exactly 56 minutes ago, israel began a ground incursion into gaza. by land, by sea, and by air, the offensive is on. they warned residents of gaza to evacuate their homes, and now the invasion has begun. john huddy with the front-row seat only on fox and we'll go back to that right after this. which is why he's investing ain his heart health by eatingw. kellogg's raisin bran ® good morning dad. hi, sweetie. here's another eye opener, not only is kellogg's raisin bran ® heart healthy, but its a delicious source of potassium. mom make you eat that? i happen to like raisins. now that's what i'm talkin' about. invest in your heart health. with kellogg's ra

there are a lot of senior women. white house council, she left, staff secretary is a woman, they do have some -- josh earnest said they could maybe do better. but from my opinion, i don't care. i just want them to hire the best people that they have for the job. >> i agree with you. i only care because they are huge hypocrites at the white house. >> there are a lot of people who stay between administrations, one of them is the people who answer the phones at the white house, the wonderful -- >> they're not making 100 grand, i hope. >> no, that's not the point. if you take the average of everybody that works there -- >> i see that. i see that. it should be better than that. i agree with that. but there are a lot of women who stay there between administrations. >> can i ask you this, bob. we agree on this one. matt lauer from the "today" show taking heat for asking general motors ceo mary barra, if she can jug will. >> you said that your kids said they're going to hold you accountable for one job, and that is being a m

>> they have a lot to prove. market is controlled by a couple major carriers, verizon and at&t. i do not see any , but they will evolve. >> there is a fundamental change in the way that the mobile business is working right now, led by t-mobile, taking away the plans, subsidies, and letting the consumer pay over time through their monthly bills. it is a big change in the phone business, and this could get accelerated with the iphone 6 this fall. a carrier would be locked into the payments of the phone, but the phone would not be subsidized. the carriers love this, phone makers kind of love this. if that would change the u.s. business model, that can start to open up companies like xiaomi, who have a different model. where the consumer pays for the phone. >> steve wozniak thinks xiaomi products are good enough for the u.s., when he visited in january, said that they were good enough to break the american market. one of the interesting points that you spoke with you go about in your article, brad, was about the even

i held town halls, i did a lot of interviews. i did everything i could to have a direct and unfiltered channel to the people in these various places because we had a big hole to dig out of and we have to recognize that even when people are criticizing us or dismissing us, in the back of the minds of most of them, not vladimir putin but most people around world, they count on us so when there's a huge natural disasters they expect us to be there. when there is a problem that needs to be addressed in an international forum they come to us. so i really took seriously the challenge of reasserting american leadership and reestablishing in our own minds as well as those around world our indispensability. that did not mean unilateral, part of what people were reacting to was this idea that america made decisions that they were imposing on other countries. instead i wanted to promos what i called smart power. we can't just rely on our military as great as it is. we have to be more engaged in partnerships with other countries, we have to b

and there was a lot of resistance. i mean, the army rank and file was primarily against a doing this, but it was ordered to happen anyway. it was the cream of the crop. there were attorneys, doctors, well-educated people, teachers, university graduates, tuskegee institute, alabama graduates were here. there was a time called the talents and 10, the upper 10% of the black population in terms of intelligence and skills and capabilities. a lot of them would have been part of that. this was an experiment. they did not know that this was going to work. there was a lot of pressure anywhere on the black community to make sure that this occurred so that did not all washout or flunk out that they were not capable because there was a widespread belief that they were not intelligent off or capable of leading in compact. it would have wished back of the sense of progress of racial equality. houston was a graduate at the was a his class, and he civil rights lawyer. he hired herbert marshall, who was his assistant, one of the best-k

>> they've gotten a lot better. e going to start to improve along the jersey shore even though it's raining right now. the latest advisory, this is a 90-mile-per-hour category 1 storm moving northeast very quickly at 24 miles per hour. so it should be leaving the scene fairly quickly all the way from new york down through atlantic city, even though there's rain showers right now. and up in southern new england, conditions are going to gradually get worse, i think, as some of the outer effects of arthur begin to work their way in. rain showers and even thunderstorms right now across the region. this is what arthur looks like on the satellite picture moving rapidly toward the northeast. weakening as it does. here's why it's moving so quickly. we've got a jet stream plowing in from the west that's going to be pushing arthur out to sea giving it a quick shove. it shouldn't be long, i don't think, before conditions even rapidly improve along the jersey coast in new york and long island. and southern new england, they may

a lot like ok. let's say the mall linsky says to me let's play sometimes for nothing actually play this season and it's. not just a good story he will be just if you could you see the stage take look easy. but he was still. playing. lists. today on larry king knowledge scandal tony goldwyn i will blue shonda rhimes called me and said i'm going to play the president of united states with kerry washington that sounds interesting no matter what the situation is that the scene is every time you walk into a room you just have this how this power this aura of the way people deal with you know you bring so much through. if you seem just because you got that title on his new project then divide you find out where they innocent were they guilty who did what and we explore all of the gray areas in our justice system you touch success at the moment larry i'm really grateful for you know i mean i've been doing this for twenty five years and as you know you know you go through dry periods and periods of success a

it has grown stronger than a lot of economists predicted. i'm david shuster. "inside story" is next. right here on al jazeera america. . >> job training was the subject of something you rarely see in washington. a near unanimous vote in the house of representatives. the goal is to train up more workers for available jobs and run federal job training programs more efficiently. and it's the "inside story." hilter you hello, i'm ray suarez. millions have been out of work. millions who had lost jobs. millions who ran through extended jobless benefits and ran through the ranks of the uncounted and unemployed. yet when you look at the sunday classifieds in big metropolitan newspapers there are a lot of jobs on offer. so what's the problem? are employers looking for workers with skills that aren't widely available? did the education and work lives of unemployed people prepare them for jobs no one wants to pay them to do? the federal government says it has a piece of the answer. in an extremely rare show of unit union minutety, washington wants to match today's people

that is a lot. o not in the right job, not the right to reread looking to make a dramatic change. maybe we don't like to work. >> probably part of it. when you look at the reality we live in a very different world than we did 20 or 30 or 40 years ago, the boomers and their parents were sort of exposed to that debt with a great company and grow with the company and the company will have loyalty dealing you have loyalty to the company and now you have companies evolving quickly, buying, selling, changing, that stability isn't there and the realities loyalty isn't there. office workers have to be on our toes and ready to move and the 2009 shake-up, because a lot of people to really think about that ability. cheryl: how do you know when it is right to leave and when you should stay put and you are just being -- just board? >> when you are completely bored and hating walking and i incomplete agreement in 2009 people panicked and stayed in many jobs they didn't want to be your god any job they could and we

. >> a lot of potential buyers have been suggested, google, yahoo!, cbs and viacom. having worked within the company, which of those is more likely or realistic if this deal goes through? >> cnn is a valuable asset. value that about 8 billion. that is roughly 10% of the value of the whole entity. the crown jewels are hbo, turner, and warner bros.. think about the natural buyers for cnn, i think disney is a real natural buyer because they own some of the largest and capable properties. adding to that set of properties gives them more leverage and i think it is more interesting to talk about google and yahoo!. those seem like stretches to me. >> what about the idea that rupert murdoch is doing this just to fend off other potential suitors for time warner like google, facebook, amazon. >> i don't think he would do the deal just to fend off other people. i think he feels like the timing is right. they are passed some of the scandals and there is this uncertain environment in the seat, this antitrust situation, and i think he is seizing on a situation where he feels like i

this and a lot of names. skepticism, we had it, and we need a turning point, and i don't think it's here. >> i wouldn't buy facebook shars, but those with implied volatility, an interesting trade that caught my eye and will look it before next wednesday. butterfly, in august, when it was 65-72 half, 82 butterfly. it costs 2.25. it makes money breaking even at 67.25. the stock is at 68. it's in the money. breaking below where the stock is traiding. at 72.5. why? that's the prior high to march. it's a one-day move of 8%. what this does is i have a really wide profitability range between 67.25. i lose that below 65 and above 80. >> it's a thoughtful trade. it works because although option prices in general are low, especially after everything seemed to have bounced back today, this is actually a stock where options prices are not as cheap as they are in other places, implied volatility, it means you want to engauge in the spreads, and what's happening here is you are collecting money. they are working in your fav

so, a lot of what the neighborhood support center is going to provide is that information. cally we're going to be like a hub where people can come to get services, help, information, et cetera. what you see here on this table are a whole variety of did you ever rent things from tools, some walki-talkies. this helps people know what is going on in their neighborhood. over here you have a whole variety of water and canned goods. we're really hoping that people will stock up for themselves at least for the first 72 hours if not more. i know that i have a ton of canned food and other sorts of things such as water within my own home. and everybody should, but there's going to come a time where people are going to end up running out and needing more. so, that's what we've got right here. >> so, this neighborhood support center, this doesn't look to be a major city sponsored fully stocked space. it can be a small commercial space, even somebody's garage as long as they have the information, a guide of information, who to call for what, communications equipment, some power, have a

that's a lot of a little or that's real that's a lot of it. seven percent of the delta muscle that's about all of it at that will then out but i look at it and i'm not a pilot out of. the that could be a bug but it is fertile some of those above there's a below it was a gallon and loaded up with but a little under a lot of my left eye because a lot of the others. but there's a couple of. the one of the visit. it was a. very hard to take out. once again on here a lot had never had sex with that her thick hair no please. please. please. put it to. the people. right to see. first street. and i think that you're. on a reformist. instrument. to be in the know. so. you have people living in constant fear that they're not safe in their homes or in this feeds or them don't look at it they live in fear that there will be attacked and they could die all of this should be done all their property on their land could be seriously affected movies again to see if it did or that is a bug issue. the . audio. production budget was of the most. injured but someth

and korea is a country with a lot of christians, so a lot of, there were a lot of koreans in that service>> host: if you're jewish-american, would you be allowed into saudi arabia? >> guest: yes. they did not allow the jerusalem post correspondent to accompany obama on this latest trip when he went, but, you know, yes, there are jewish-americans who get into saudi arabia without any particular difficulty. because in the, you know, in the prophets' time, you know, both jews and christians were seen as people of the book. so they did not have as much problem. and the saudis today, i would say the really conservative religious people still have a much greater problem with shia muslims than with christians or jews. i mean, we rank pretty low down but not nearly as low down as a shia because they are, in essence, heretics. there are they are prostituting and polluting islam. we're not. we're just not believers. and we are believers, but not in the right belief. >> host: and finally, karen elliott house, on saudi arabia you close with an analogy of a royal saudi 747. what is that analogy? >> gu

they are they absolutely are so you think a lot of it is coming from consumers? well we actually i'll come back to you we actually have a petition to the board of public the sierra club? the sierra club does in front of the board of public utilities not to actually adopt an energy efficiency standard we're one of the few states in the country that hasn't actually adopted a standard even pennsylvania has it and it's a way of benchmarking how we reduce energy use so right now we don't have that right we have a goal and a plan but we don't have an actual standard and we can actually save a lot of money in this state that way well talk about this because my understanding is the new jersey master plan energy master plan alright what we're talking about is a committment part of the plan 22 percent of new jersey's electricity will be renewable by the year 2020 was it a committment a deal a contract what is it? it's actually... was... go ahead it's actually a standard that's set into law where utilities have to actually buy credits and finance to make sure that... we have

charles: a lot of people don't like it. re a business owner, you want to learn how to prevent it from happening. i can understand. but this americana behavior. these people, every day americans lost a lot of money because of them. >> bernie madoff is writing a book in jail. charles: i heard he was hot stuff in jail. >> did you? oh, my. charles: everyone wants bernie to tell them how to manage money. the laundry money, come on bernie are you kidding me? you serious? we're in this society. i think this is a fascinating story. this market has been really fascinating. up next. tomorrow morning what is happening? kate, you're in the hot seat. we never thought we'd be farming wind out here. it's not just building jobs here, it's helping our community. siemens location here has just received a major order of wind turbines. it puts a huge smile on my face. cause i'm like, 'this is what we do.' the fact that iowa is leading the way in wind energy, i'm so proud, like, it's just amazing. charles: all right, hot seat, pros have 15 secon

a lot of people don't want to say it but gentrification has been going on for a long time, not just in the 50s, 60s. it's still happening right now and we need to address it. not just in the short-term, but the long-term because we are in a not just housing crisis but in a crisis of who is going to be living in san francisco. in the overhead as you can see here. this is from the housing dashboard. basically the housing dashboard captures how many units that we have been building in san francisco from condominiums to affordable housing to 2014. finally it gives us a sense of what we are building in san francisco. for years some were talking about we are building too many condominiums, now we have a tool from the city, from the planning department to capture what we are sealing. -- seeing. it's no longer ideology. it's actual data. there is over 32,000 units built in san francisco. out of those 32,000 units we have built 211 percent condominiums. but yet we only have 27 percent moderator: income. who are we building housing for. we have to recognize the different national income for the

that's a lot of dough. gps tag might make more sense of the number of misdirected bags, 26 million a year. is that a large proportion of the total or not so much? >> well, depending which estimates you believe, every 1 in 150 bags or one in three bags are lost or misdirected. so quite a few. gerri: do you consider that a big number what i'm asking? 26 million to me sound like a very big number, but when you look at comparison to total amount, maybe it is not that much? >> depend if it is your bag that's lost. then it is a big number. but, you know, even those paper bag tags that they use which by the way have been here since the 1930s, really time that this industry, even those paper tags cost airlines a lot of money. so it is not like even the paper tags are free. so it is no the just a lost bags but also the tags which have to be issued every time. so these, these bag tags, gerri, these new bag tags are permanent so, the airlines don't have to keep on printing them every time you send a bag through the bag

yes, there's a lot of profit motive, a lot of profit-making, a lot of fear mongering but there's a lott to chew. we tend to, for example, over exaggerated the terrorist threat and under exaggerate the criminal threat. so you will find discontinuities on both ends. cybercrime is an enormously profitable, a very big deal, very big business. compass are not doing enough to defend themselves. on the other hand, a lot of other threats are overhyped. there's an enormous security investor complex providing open studios military, being a lobbying force for some of these draconian laws. but at the same time there's real stuff that needs to be sold to real companies. nsa is not doing a lot to defend the country but that's not really their mission. their job is to defend military and government networks. they have not been tasked with defending the broader and it. that's probably a good thing. so we really can't judge them on the. there's a lot going on here. how to compare this with climate change? your guess is as good as mine. climate change is probably those single most catastrophic for our s

a lot of these people especially the spanish the mexican fighting nation a lot of them are living in overcrowded conditions. slumlord condition was a bad plumbing battle like tricity you know of wires running all over the place crowded into small spaces you know doing whatever they can do to secure their housing a lot of it's substandard housing and they're just the scraping by was easy to look at my little. money here is the reason. the leave. the end of the. house would. be easy. because. we both. don't think any of this is subsidized i think the people are you know bank but this out of their own pocket again it was probably a couple bam lease living per bartman here sharing the expenses of the apartment but i don't think in most of the mexicans you know a lot of them are registered americans are legal americans so are the coleman documented so they can't get any government help you know maybe if their children are born here they can get some food stamp money but they won't get into subsidized housing if they are if there are. none documentary. on the birth rate of immigration no im

a lot of us have been waiting that long. is is a good day for us. >> our primary goal with them is when we have an inmate that we receive that is a behavior problem, it's to get that individual back on a positive behavior track and ultimately move him into a lesser security facility. >> it's a matter of degree of danger because anytime you take an inmate out of the facility, there's always the possibility of an escape. whether they escape from their cell themselves or having help from the outside. >> i'm glad to be leaving here. this is the worst prison in the state. the places that we're going to, all of us today, are much better. and it takes a lot of clear conduct to get there so, you know, you have to earn it. >>> coming up -- >> trust is what i lost to society. to trust me in society. so this is a start. and it's a great start. >> at home, but still in prison. >>> and later, saying good-bye to the castle on the cumberland. >>> a lapse of judgment. a crime is committed. it can result in years behind bars, and regaining fr

i spent a lot of time with the executive there. r role model, or do you have a role model? is oneuld not say there in particular, but we looked at successful fast casual restaurants to see, what do we like? what don't we like? how can we take what we think they are doing right, but adjust it and really incorporated into how we know we can make the perfect model for a restaurant? >> do you have a role in all this? you guys have to check out the landscape. >> there is two ways to look at it. there are role models in terms of great brands out there. there is obviously people who have helped us along the way, to see things we are not seeing. person markets who founded the juice press in new york, around 20 locations. culture, buting a being the best operator you can be. no one wants to walk into the store and have there been no napkins, and have it be dirty. a lot of operating the restaurant is the operational things, which are messy, getting dirty and cleaning. to be a great restaurant, you have to care about cleanliness. we make sure

a lot of people still on vacation. we just hit an all-time high. we pulled back half a percent, people are looking for reasons right now. i don't know why, i'm looking for reasons to buy. but what i do see with the low volume pullback, the sellers are not in control. if they were, we'd see big down days, heavy volume. this is the buyers looking for a small pullback. charles: but the buyers, though, in my mind, must be looking for some sort of a spark. >> i think people are, you know, not necessarily nervous, it's kind of what matt was staying, you know, two steps forward, one step back. we're just feeling out what's going on. retail investors are getting a feel, and earnings are coming up. you know, these companies did pretty well last quarter, i think people are anticipating that. charles: that might be the catalyst, but i think, tracy, the thing is it's been like five or eight steps forward, one step back, and you can get spoil with the that kind of thing. >> you most certainly can, although fewer sharessing with traded, more and more people are

i believe there was a lot of ritalin involved. > thank you so much for joining us today. our own eric from bloomberg businessweek. we will have more in just a few. ♪ >> janet yellen is doing her job. short and president obama is running at a time to nominate central bankers. we talk about that story. and we are playing the yearbook game. take a look at this executive. in the tech world. she graduated from cold spring harbor high school in new york in 1973, the year i was born. all of our producers are telling us. sweet us your guesses. ♪ >> live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle. >> welcome that. -- back. >> i am matt miller, in four erik schatzker. he is on personal business. week to fed meets next decide the next move in monetary policy, tonight yellen will find a few empty seats. there are still two vacant seats on the board of governors and time is running out for president obama to get them filled before the end of the year. peter cook has more on this sto

there was a lot of fascinating things in that ipo filing. e most notorious big p was their desire to lower the royalty rates. what is going on with royalty rates? >> the royalty rates are set by a compulsory license for webcasting, so effectively by u.s. law. that is the default license that is set for how they structure like radio. the thought is if it is promotional for music sale and not cannibalistic of music sales, it deserves to have a slightly lower royalty rate. >> i never thought about that. that is why you have iheart radio where you have a pile of songs. >> and spotify, the royalty rates are higher because that is a substitute for owning the music. what is different about 8tracks is it is a curation platform, so any person or entity around the world -- what i mean by that him practice, 1% of our users can upload music from their hard drive, create an online mixed tape, add metadata in terms of a title, cover art, a description, classified by genre, mood, activity, and then the listeners tune into a series of online mix tapes choosi

so i think there's a lot of upside there. concerns with the debt for this company, but they cut their dividend, distribution enough, to i think it's no longer a concern. i didn't expect the distribution to increase and stock from 18 back into the high 20s. >> you made it clear doing our second half strategies you liked kkr, and other asset managers and are going with that in a trade today? >> yeah. i want exposure to the financials but am not ready to a and a citi or bank of america. kkr, a great dividend and a lot of investment banking deals out there and a lot of asset management, as we touched on. that's the way i want to be in the financialing now. kkr. and pete had earlier in the year, rop robbed a little bit. point that out. but kkr to me a very safe play in the event we do get a 10% pullback. i also think the stock trades up into the high 20s and you get a great yield. >> off the hot seat. stephanie link is about to get on. come on down. at the start of the year, two traders had the same financial in their playbooks. >>

i cried, i cried, i cried a lot. it's my american nightmare. >> how was your day? ood. >> jody bowlen is the single mother of a teenage mum. >> i'm not restocking the store. i'm close n on the 24th. >> she's a struggling small business owner. in an attempt to stay afloat. she is rebuilding her dream by moving her store to a location. >> i'm on a mission that i have to keep the business going. getting the new store up and running, the details are overwhelming. the stakes are so high that i think that honestly, i've been afraid to realise how high they are. >>> the stories of these families are not isolated. they illustrate disturbing trends in the american middle class, the conclusion made by sociology professor kevin light. he's the author of middle class meltdown in america - causes, consequences and remedies. after years of research on class inequality here is what he told us about our three families, and the american middle class. >> what the families show is we have lost the narrative for how to get a head. having a job and working hard and having a mortgage and