. >>> and the ceo actavis and the allergan acquisition.xury you can't afford. that's why i recommend fast reliable comcast business internet. they know what businesses need. and there's a no-mistake guarantee. if you don't like it, you have thirty days to call and get your money back. with comcast business internet you literally can't mook a mistick. i meant to say that. switch today and get the no mistake guarantee. comcast business. built for business. ♪ >>> off the street, no normore snow. welcome back to "squawk box." let's talk entrepreneurships. on the link between student debt and startups. >> good morning. the relationship is complicated. first there's the rate of entrepreneurship among young americans ages 21 to 24. it fell from 23% in 2003 to 23% a decade later meaning millennials opened approximately 19,000 fewer businesses per month. that's krg to the coffman corporation. the debt outstanding fell between 2004 and 2013. of course there's a catch. those with debt have more of it. about $28,000 on average. now, some researchers s

>> deal days away $205 a share, would have kept allergan independent, would have potentially upset allergan'ss, but they could have done it without a shareholder vote, because it would have been a cash deal. stopped, of course because of during due diligence discovered inventory issue. >> stock went down big on the 25th anniversary of the network. >> november 6th, 7th, around there, salix reported inventory, which they had been guiding to around ten weeks was nine months. subsequent to that as jim said salix's stock price cratered cfo fired. subsequent to that ceo left the company. basically without a ceo, but a strong product portfolio. >> always. >> this inventory issue has been coming back coming back largely because it's been for sale. oftentimes you will put a company up for sale while doing a ceo search to make sure you've got both going at the sam time. in this time salix is going to be sold and it does appear valeant is the leading bidder. valeant -- think cephalon and allergan there it was as much about strategy, i would argue teaming with ackman a lot of different execution issues i

they stand to get $109 if he is fired once allergan is acquired by activist.t of that would be in cash and stock for equity awards. activist has already said it plans to reduce or replace most of allergan's current executives with their own. that is a look at the top stories we are following at this hour. more now on the next steps needed for a greek deal to sell the reform program. erik schatzker joins me from athens. the proposal got approved the what have they been saying about it? eric: good afternoon, mark. there is near unanimity that this a list of proposed reforms is a good or a valid starting point. after that, the opinions the verge. mario draghi calls it sufficiently comprehensive. the spanish economy minister seen behind the closed doors as the hardliner says it is evidence that the terms of greece passes bailout need to be revised because the country's economy is weakening. however, madame lagarde managing director of the imf, was critical saying it was not specific enough and that it lacks firm commitments on pension reform. >> what happens now?

they say they plan to replace most of allergan's executives with its own.ut a fire sale at boeing question mark to have buyers for early 787 dreamliner's that had problems during final assembly. boeing is selling them for less than half the list price about $100 million each. original customers refused to i them has they were too heavy and could not fly as far as expected. ethiopian airlines is expected to buy eight of the dreamliner's. home prices in 20 u.s. cities appreciated faster than the year before. the case schiller index rose 4.5%. the biggest gainer is right here. san francisco's home prices grew by 9% and second that was miami. "bloomberg wes" will be right back. -- "bloomberg west" will be right back. ♪ cory: i'm cory johnson this is "bloomberg west." ebay still dominates the marketplace online but businesses like etsy are focusing on specific businesses. they're using special technology to authenticate items and it's getting to be a big business. i sat down with the ceo and cofounder and started by asking to describe how the niche e-commerce ma

david pyott of allergan joins us this morning.trange trip it's been other the last couple years. >> the last couple years were going quite well in fact. over my 17-year tenure the company grew enormously. in fact, when i started back in ' '98, the total sales were about $1.1 billion. including business we spun off which now is owned by abbott. the surgical business. and last year was the sales grew about a billion across the year. so we were really on fire. and as you said best quarter ever. so we're going over what brent saunders and i referred to as a racing track. >> it has been an amazing run. shareholders have faired very well. but i just try to think about the back and forth and trying to manage a company while also dealing with hostile takeovers. dealing with bill ackman. what was that like? >> well it was all consuming. and in fact a long time ago we said if ever we got into kind of a very tough situation, we would subdivide the management team. and that's exactly what i did. fortunately i appointed and the board obviously

third point, he announces new stakes in aig, also allergan, emc, phillips 6 6, citi group, and delta air lines. he also boosted had his stake in ebay, sun edison, and american airlines group. they cut their stake in petroleum. so that oil trade playing out again. and they are completely out of fed exshares. so interesting moving here. third point, we move on to appleoosa is getting out. they've at least reduced their stake in american airlines group as well as priceline. they have completely dissolved, gotten out of their positions in facebook as well as alibaba. also cvs and citigroup as well. and they've gotten out of their halliburton stake completely. and we'll end on green light capital, david einhorn. they've reduced their position in etna by more than half. they've also reduced their position in apple by about half a million shares. they've taken a new position in time warner. a lot of these coming through here, the first few appaloosa, green light. we'll bring more details but for right now big money managers disclosing. >> thanks, dom. grasso, what stands out to you here? >>

. >> allergan 217, beats by 34 cents.saying they should have asked for more. >> no no no one believed that they -- i mean no one thought that there wasn't a vicious overpay going on there anyway at actavis. david pyott came on mad money over and over and said we can do this huge number, and everybody said it's not true it's not true. he said, no we have earnings power. only one man believed him, the ceo of actavis. ceo of actavis was right. >> so far. >> so far? >> so far pretty good. pretty smart. >> what do you have to win -- you know what? so far the patriots are good but let's see. >> it's over though. i disagree with that al le gory. >> deflate-gate. >> talking about the season as a shareholder. yes, it's been a very good ride. >> a -- >> let's see how the integration goes. see what the next deal. >> numbers at allergan unbelievable. i've been a huge supporter of that team -- that team -- at snap-on, how many times does he have to tell you we're not just a tool company, we're a solutions company. snap-on is going hig

. >> it's now allergan.lt a great opportunity for people at home because that man is a -- that combination's a very good one, allergan. they'll be renamed allergan. a great opportunity. stock was down seven. >> nothing but straight up for quite some time. >> david, the guys using numbers that make the stock somewhat inexpensive. >> really? >> yes. >> interesting. rollout ups. i'm looking at valeant. pushing 170 bucks, jim. erx. >> growth drug stocks how is regender on doing? a very good story how their drug is superior and more money and meg interviewed him. i thought that stock should be up more than it is right now. the market has a bit of a gloom over it. >> let me get to discovery and then bob pisani. discovery didn't have a great quarter. of course, huge multiple compression in that name. but they didn't give us guidance in the press release. it appears to come out on the conference call. we anticipated reporting free cash flow growth low digitsing growth in cash operating business, offset by higher cas

a golden parachute for the ceo of botox maker allergan, if things don't work out, david pyott stands $100 million if he is terminated. how about a fire sale at boeing? the aircraft maker has buyers for 10 early generation dreamliner's that had problems during final assembly. boeing is selling them for last -- less than half of the list price. the planes were too heavy and could not fly as far as necessary. ethiopian airlines is expected to purchase eight of the dreamliner. home prices in 20 u.s. cities appreciated at a faster pace in 2014 than the year before. the s&p case schiller index showed property values rose 4.5% through december. the biggest gainer, right here in san francisco, home prices rising 9.3% year-over-year. second after that is miami. bloomberg west will be right back. ♪ cory: i'm cory johnson and this is "bloomberg west." ebay still dominates in online auction, but increasingly specialty marketplaces like etsy are using special technology to authenticate items and it's getting to be a big business. recently, my guest was asked to describe how the niche market works

valeant was in a longtime attempt to buy allergan.irer that cuts r&d costs to boost profit. olivia: a rollup shop. tom: "birdman" was the date winner. it won 4 oscars, including best picture and best director. join and more -- julianne moore won best actress for her role in "still alice." >> thank you so much. i read an article that said winning an oscar could lead to living 5 years longer. i'd like to think the academy because my husband is younger than me. tom: best actor went to eddie redmayne, who portrayed stephen hawking in "the theory of everything." 1.1313 on euro. nymex weak, breaching the $50 level. the two items i would watch front and center this week away from greece and ukraine. it has been a year since the ouster of victory gave the niche -- it has been a year since the ouster of viktor yanukovych. thousands marched in kiev. hans nichols joins us. hans: from berlin we've had quite a bit on the lack of a cease-fire. they are taking a wait and see approach. there have been positive steps including the prisoner exchange an

a golden parachute for the ceo of botox maker allergan if things don't work out, david hyatt stands to0 -- david pyott stand to make $100 million if he is terminated. how about a fire sale at boeing? the aircraft maker has buyers for 10 dreamliner's that had problems during final assembly. boeing is selling them for last -- less than half of the list price. the planes were too heavy and could not fly as far as necessary. ethiopian airlines is expected to purchase eight of the dreamliner. home prices in 20 u.s. cities appreciated at a faster pace in 2014 than the year before. the s&p case schiller index showed property values rose 4.5% through december. the biggest gainer, right here in sanford, home prices rising 9.3% year-over-year. second after that is miami. mark crumpton is coming up at the bottom of the hour -- at the top of the hour. mark: the company whose sales outlook weekend says it is unable to raise prices in much of the united states. what is keeping potential new home buyers on the sidelines? and how will the housing market uneven recovery impact the company's bottom line

. >> security has been stepped up across allergan, following a taliban attack last year. over the past four decades similar attacks on schools in pakistan and anywhere else in the world. and as reports snipers are now being seen on roof tops and some teachers have been carrying guns to the classrooms. nod to enable the educational institutions to meet the threat. the taliban, of course, has warned of more attacks and that has prompted the police and the to embark basic weapon handling and tactics to the teachers in order for them to be able to meet the first crucial minutes of an attack. and feel that they have some security now the police the quick reaction force, will be on stand by, weapons will knob be carries by teachers and accord dog the new guidance, the boundary wars will have to be raised. and also the fact that everybody will be told to remain vigilant including the teachers and public at large to report any suspicious activity. >> and other students feel that they can learn in a very conducive learning environment. >> these are tense times in pakistan. but the

allergan. and he just packed in a little british company.over 17 -- >> here's the good news. you bought this company at 3784. that's good considering the stock is now trading at close to $286 a share. that's the good news. the bad news is most of our viewers who have been following this has v not been able to piggyback this trade. how much more upside do you see out of this stock? >> well in two years they promised to deliver $25 a share in earnings. i think that's realistic. if you put a multiple 15 or 16, you've got 4$400 a share. and close to $21 a share in free cash next year after the merger goes through. so it's a money machine as well as earnings. we have the ceo of allergan on tomorrow on "squawk box." anything you want us to ask him? >> is he going to continue with the company? >> that's a good question. is he going to leave after awhile? isn't that the idea? >> i'm more of an expert on actavis than allergan to be frank. >> fair enough. your other big take. >> okay. there's 11.45 in cash. they don't have comp based in their earnings

one of the big stocks in the news today is allergan, great earnings, the stock is like 170 bucks. i sold that stock at $9. i thought they were going out of business. neil: really? you might want to replay that one. [ laughter ] >> in hindsight we feel dumb. neil: exactly. >> i had boeing on my show now it's at an all-time high. it's names that we know, this is a long-term journey. neil: long-term, don't know in the minute-by-minute movement. >> years and years ago peter lynch taught us you got to invest and hold for the long-term. neil: that's what you've been saying, right? >> you need aspirin, buy j&j, it's up 53%, and vicks, procter & gamble, i love it. it's up 63%. you need that. neil: guys, look forward to tomorrow, watch that. he's going to have his people, you might get to talk to him tomorrow, when he's in orlando. it is going to be rocking. more after this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva

. >> felt like allergan to me.hey made the huge productions in order to fend off a takeover and meeting them. david pyott not able to fend off takeover but this was a company, this was the most uneventful box in the corner. uneventful. buried the lead with american sniper it's the next quarter i guess. >> uneventful best way to put it. >> what you want. >> solid. >> solid. >> s&p, filling in at top of the screen. big board this morning, ringing the opening bell we have the american swiss foundation celebrating its 70th anniversary. at nasdaq border free operating in technology and services platform for e-commerce. >> border free became public at 16 spiked 20% on day one, that's right 20%. ipo price was 13. not doing as well as people would like. i mean it's important -- it became public when there were 63 deals all at once. >> i missed that one. >> became public a-10 remember when you see a lot of deals public at once it may be -- >> pepsi will lead hasbro all of the proctor & gamble among the winners in the top te

10% of the universe of hedge funds add positions during the fourth quarter followed by citi and allerganbe acquired by actavis. among the best stock pickers, the media and technology trend played out as well. best performing hedge funds in terms of long equity load up on time warner cable, cbs, netflix. i should note a tough quarter to generate alpha, with symmetric noting that 20% of the hedge funds surveyed through the s.e.c. filings were able to beat the benchmark with stock picks. of course we don't know what they're doing on the short side or what they might be doing in other products like bonds and rates but from the stock perspective, a tough climate beginning part of the year. >> layot of interesting narratives embedded in all of those. >>> tomorrow, live from arkansas with the ceo of walmart. doug mcmillon, after the company reports earnings. you do not want to miss that. more "squawk on the street" 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 p