no doubt andrew mason's good-bye letter was one of the more eccentric ones we have ever seen. o seema for the twitter reaction. >> in the letter, mason says he is looking for a good fat camp to lose his groupon 40. twitter had fun with this one. straight to the tweets. joe says, if mason needs to look far good fat camp, he clearly doesn't subscribe to groupon. 25% of the offers are fitness or oriented. >> cue the reality show producers. >> and andrew mason tweets, okay, i'm good on the fat camp recommendations. you may stop. thank you. >> seema, that wasn't you, kate with that tweet, wasn't it in. >> no, that was another kate. i looked at that myself. more mason. he is not getting paid well. i love that story, robert. but you have to look at leadership from someone like him. i think investors say enough with the goof ball, silicon valley ceos. if you look at stocks. groupon being the worst, down 75% since the ipo. but even zynga or facebook, and i'm not putting zuckerberg in the same category as mason. >> early on, especially after ipo failure, there are same questions asked ab

awarded five-stars from smartmoney magazine. >>> andrew mason ousted as ceo of groupon. sides losing that corner office at the company he co-founded? robert frank takes a deeper look at mason's wealth. >> good morning. andrew mason was a very unusual ceo, including his retirement package. company filings say he will only get his salary for six months after he leaves. that salary was $756.72 for an entire year. so his severance package is around $376. i guess we call that a lead rather than a golden parachute. it's been a rapid fall in wealth for mason who just over a year ago was a papered billionaire. let's look at the numbers. before groupon's ipo, he sold around $28 million in stock. so he'll be fine, or at least he'll still be a millionaire but not like he was before. just after the ipo in november of 2011, his shares were worth more than $1.3 billion. mason was celebrated as the tech world's latest billionaire. then came the long slide. today his shares are worth around only $200 million. an 85% drop in wealth, losing more than $1 billion. and that remaining $200 mil

now that groupon has fired its founder, andrew mason, what next for the online coupon company? our cover story takes a look at analysts' take on the regrouping at groupon. groupon's future may be the mobile user, according to frank sennett, who wrote the inside story "groupon's biggest deal ever." "their big strength is mobile. it's growing exponentially." and others think it might take on amazon or ebay. "ebay would be easeir because they don't have the retail infrastructure amazon has." despite groupon's stock plunge after its ipo, shares went up slightly with news of its founder andrew mason's firing as ceo. now comes the task of reconnecting with retailers who thought they never really got their money's worth of new customers after the initial group coupon - hence "groupon" - was cashed. "you do hear some merchants complain of 'bottom-feeders,' but i think the jury's still out on that." another problem - the business model was pretty easy to replicate, and plenty of imitators did so. living social, funded by amazon; scoutmob, which uses a phone app in roughly 20 cities; goo

it is hard it figure out, when do you move or not move. >> here is an example where andrew mason was e founder but because eric l put in the first million dollars, if mason put in the first million, would he be out today? >> i learn from you that, i think you told us this morning, he has 7% still with owner stake in the company. so he has a pretty strong, if not controlling interest, he what has a strong voice. when we saw david kneelman prematurely ridiculous removed as founder of jetblue, david neilman was overwhelmingly the larger shareholder. this was able to happen despite background and ownership and governance issuees. a lot has to do with control over the board politics. if you have a lead chairman working, a regular institutio l institutionalized review. with criteria of the ceo. and how they deal with the fascination of the founder. there is a charismatic aura that often frightens a board. many times the board thinks they don't have the background. freddie mac had a long discredited ceo at the helm because the rest of the board didn't think they understood the experts. they

andrew mason announced he was fired from the company he helped found. his exit comes after a series of challenges, including the most recent quarter. shares lost almost a quarter of their value during the regular session after groupon lost money in the last quarter. profit margins shrank and its outlook was far short of expectations. then after mason's departure was announced, shares were trading around $4.60 share in the extended hours sessn, small rebound frotoday's sell-off. meantime, online music service pandora is trying to manage its costs better. the company will limit its free mobile listening service to 40 hours per month. music royalties per song for pandora are up 9% this year. shares fell 4.2%, even though the company predicted the change will affect few of its customers. retail stocks were in focus after the j.c. penney's much bigger than expected loss during the holidays. shares fell hard, down 17% to their lowest closing since december. volume was five times average. standard and poor's cut j.c. penney's credit rating into junk territory,

>> what a wonderfully candid memo sent out by andrew mason yesterday. again, he said i'd like to spend more time with my family. oh, just kidding, i was fired. in that memo, he mentioned some of the reasons that led to his being fired. of course, the fact that the share price of groupon has fallen by some 75% since its ipo, now trading at around $4.50. also he said the controversial accounting metrics in the s-1 filing certainly were a part of that. me said as a ceo, i am accountable for that. one thing is for sure, bill. the next ceo really has his work cut out for him. now, shares in groupon after the company posted a surprise quarterly loss were down 24%, but after hours they did rally by as much as 8%. in terms of the overall market, the dow jones losing some 20 points. with saw a late-session selloff. that says investors are somewhat concerned about the sequester, which kicks in today. >> carolyn live in london. thank you so much. >>> as always, let us know why you're awake. shoot us an e-mail at waytooearly@msnbc.com. of course, we'll read your fa

andrew mason may have lost his job, but not his sense of humor.did letter to groupon employees saying "after 4 1/2 intense and wonderful years as ceo of groupon, i've died that i'd like to spend more time with my family. just kidding. i was fired today. >> doing the letter was just like him. they let him go out the way he wanted to. it was funny. perfect. >> reporter: perfect for a tech mogul who transported the tiny startup to a multibillion dollar business, but better known for his quirky personality. like this. >> and into the plank position. >> reporter: a 2008 youtube yoga video. made no apologies for his excentric behavior last year in an interview with "60 minutes." >> i think if there is any difference between me and a traditional ceo it's that i've been unwilling to change myself or shape my personality around what's expected. >> reporter: but when mason didn't deliver the profits expected the company went public investors stopped laughing. >> if you're successful you can be crazy, if you're not, you get fired. but he is still funny, no m

. >> frormer groupon ceo andrew mason is out of a job. fired after four years oat the helm. >> here is the deal, lester. 32-year-old mason was never like most chief executives, and neither was the severance package from groupon. >> you are fired. >> the two words that no one likes to hear, unless, of course, you are a ceo of a major company. then getting fired could be the best thing that ever happened to you or your bank account. >> when ceos leave a company, they usually leave their company a lot more wealthy than when they first started. >> take a look at some of the biggest so-called golden parachutes. the big payouts executives receive. groupon ceo andrew mason is walking away with a retirement package of $378. oh, and 36 cents. some call it a lead parachute. >> when groupon went ipo, andrew sold a bunch of his stock, which gave him to $20 million. and he is sitting on shares worth $213 million. and that parachute is definitely not lead. >> he wrote the best corporate go ahe good-bye letter of all time. after 4 flafl intense and wond

i well like andrew mason. google offered him 4 billion or $6 billion and he turned it down and now he's been kicked out of his own company and he's still got a sense of humor. >> that was impressive for him to walk out smiling. >> fired because of poor performance or because scott predicted it and laid the groundwork? >> it could be both. >> thank you, scott. >>> a new theory that the sierra desert is affecting weather in san diego. west coast weather was studied in the winter of 2011 and they found foreign dust in the clouds over the sierra nevada. the more dust there was the more snow that felt. they feel it spurs formation of ice crystals in the clouds and influence how much rain or snow falls which gives meaning to the term a dusting of snow. >> there you go. >> this is a theory you have been behind for many years now. >> i was back in my lab analyzing everything as it was coming in. it's really cool. there is a correlation between smog and fog as well. you get rid of the smog in many places and you lose t

at least andrew mason said, quote, i'm looking for a good fat camp. joins a special camp of those who have gone out in style like jetblue flight attendant steven slater or this hotel worker who hired a marching band. >> all of you out right now. >> i'm here to tell you that i'm quitting. >> one, two, three, four. ♪ >> reporter: this is classic. this video has gotten nearly 4 million hits and merck product director who quit online invoking aido. quitting on youtube is now really the way to take this job and shove it and so is resigning through the "new york times" like greg smith in a scathing letter about goldman sachs calling clients muppets or aig's jake disantis saying we have been betrayed and then there's mocking the quitting for family reasons when perhaps the company's poor performance and when stryker steve macmillan left for family reasons there was also the board lost confidence over an inappropriate relationship with an employee but this is what sets the letter unique. it made it all the way to the tubes without dying on his first ever play

. >>> groupon's earnings landed with a thud and they fired their ceo andrew mason. >>> and word on the streets is, jcpenney chief ron johnson has about six months to turn things around before calls roll in for his resignation. boeing is reportedly about to cut hundreds of workers at a south carolina dreamliner factory. >>> chrysler, pouring $400 million into factory in indiana, creating more than 1200 jobs. the irs says the sequester means furloughs of five to seven days for its employees, but not until after the tax season. >>> the switch to reusable grocery bags may be helping the environment but more than 20% of seattle store owners say a recent ban on plastic bags has led to an uptick in shoplifting. >>> shopping for a home, how about bob hope's stunning 22,000 square foot steel and glass spread in palm springs? the pool, pond and all, 12 baths, can be yours for just $50 million. >>> for the fourth straight year, hawaii residents have the highest well being in the u.s. while west virginians have the lowest. colorado came in number two. it's hawaii. one enterprising young mother-to-

andrew mason told employees he had been fired. admitting he failed and getting in the way for a second chance for the online deal's site. groupon reported greater than expected losses for the quarter. and a weak revenue outlook for this one. >>> this weekend may be a little quieter. a jewish group says this would be a good time to unplug and take 24 hours without mobile devices or any other electronics nearby. sabbath manifesto says the national day of unplugging starts tonight at sundown and goes until sundown on saturday. >>> how much the tooth fairly leaves under the pillow may tell us something about the economy. kids get an average of 2.50 bucks per tooth. wow. that's 15% more than last year and way more than i got. the tooth fairy visits nearly all homes with children. and in 46% of the families, the tooth fairy leaves $1 more for the first tooth. very interesting. >> i got $1 each time. >> did you really? >> i did. thanks, mom. >> coins or a bill? >> bills. thank you, mom. >>> a 15-year-old actress doesn't need a tooth fair

the online daily deals pioneer fired its quirky founder and ceo andrew mason on thursday.he company is facing scrutiny that its business model is flawed. groupon's stock plunged 24% on thursday to $4.23 a share on disappointing earnings results. the stock has lost three quarters of its value since it went public two years ago. >>> and it's not remaking formal education yet, but apple's itune u has reached 100,000 downloads. they provide books for free. more than 2,400 universities and k through 12 schools own itune's u courses. m more than half of the downloads are outside the u.s. i wonder if you get a diploma with that from itunes u. >> i'm sure you can make one up if you text one to yourself. ashley morrison here in new york, thank you, ashley. >>> the question anyone might ask on interstate 80 in reno nevada, is would you like fries with that ketchup? a truck hit a bridge on thursday, spilling thousands of bottles of heinz ketchup. the crash had traffic backed up for more than an hour and snow plows were used to clean up the mess. nobody was hurt. >>> the latest intern

it's goodbye to groupon ceo andrew mason. shortly after reporting another round of disappointing earnings, mason was removed from the daily coupon company he founded. shares rallied 7% after the close. the search is on for a new ceo. and today could be decision day for detroit. the governor is expected to announce he is taking over mototown by sending in a manager to run the city's finances. joe cusick of options express joins us this morning for trader talk, and while the rest of the world has been worried about sequestration, i have no doubt that traders have been thinking of ways to make money. good morning to you. > > good morning. > i know it has probably crossed your mind a time or two - you are a trader after all. so, what do you see as a way to profit off of sequestration? > > you know what, i think first of all you look at what is going to be impacted by sequestration. to be quite honest with you angie, when we are down here in the market, it has actually been something that we have priced in. we have had this, this

when former groupon andrew mason told employees he was out. the statement read andy quote, after four and a half intense and wonderful years as ceo of groupon, i've died decided that i'd like to spend more time with my family. i'm just kidding, i was fired today. the note to employees was filled with the same off-beat charm and candor that defined his tenure as ceo of the company he co-founded. writing mere about his firing, he added, if you're wondering why you haven't been paying attention. as ceo, i'm accountable. boy did that feel good to hear a refreshing and honest explanation as to why he would no longer be running the company he create period given the company's terrible performance since going public one year ago, groupon now valued at less than $3 billion was 50 priced at $20 a share, but has sold off 75% in the last year since the ipo. things went from bad to worse with disappointing earnings released this quarter. mason could have come up with any number of reasons to stadium aside to the public, instead he took accountability, tol

its ceo and in an unusual cliff, wait until you hear the e-mail that andrew mason sent to employees announcing his own firing. i'll ask ben white if politico got this e-mail, too. it's friday, march 1st, 2013. "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. our guest host this hour is zach carabell. also ben white who is politico chief economic correspondent. gentlemen, welcome to both of you. thank you for getting up early. it is a grait great day to have you both with us. we're talking about the wall street situation and washington. we have stocks and the sequester, the s&p coming off its fourth straight month of gains. if you take a look at the markets, highlights over what's been happening as we get ready for the first trading day in march. the dow and the s&p 500 rising more than 1% in february. the dow transports, this was an amazing month up by more than %. the best performing sectors last month were consumer staples, telecom and industrials. and at this hour as we await to se

. >> good afternoon, larry, carolyn.néé7Ñ andrew mason is out he will be replaced as interim kro coesent public at $20 a share. the company mind girls gone wild videos files for bankruptcy trying to protect itself from steve wynn listing debts of $16 million and assets of $8,000. the founders of the app nap chat have been sued but one former class mate. claims they stole the idea from him and shut him out of the company after they had a falling out. >> stocks raising gains after news the senate rejected proposals to stave off tomorrow's spending cuts. the bloomberg silicon valley index lower on shares of apple and oracle. in the battle for advertising it appears facebook and google are ahead of the pack. 13 of the top 15 display apps ad platt forms saw declines in ad volume in january. two company was generate a third of all revenue in 2013. larry, carolyn, back to you. >> it's getting warmer, and sunnier. >> it s it's changing. >> this will be changing but do you remember march coming in like a lamb going out like a lion? sorry. coming in like a lion going out like a lamb. either way

the now ex-coupon ceo andrew mason. is known for being quirky and eccentric. but was his groupon for a while just a little too funny for his own good? bruce, you know a thing or two about being creative. to what you think ofhis resignation? >> i think that it was great. i have to tell you that i read it, and i thought it was a piece of genius. i wonder if he actually wrote it or a whole team of marketing people wrote it. melissa: oh, come on. i love the way that he said that i'm leaving to spend more time with my family, no, just kidding, i was fired. melissa: that was funny, i thought it was on a spare nothing is more irritating than when people say that they want to spend more time with her family and you know it's bs. but he says if you're wondering why, you haven't been paying attention. it says a stock price has hovered around a quarter of the price and the in the event of last year speak for themselves. he laid out the abysmal failure and the dubious is at best the description. that is what he will be remembered for. he put it right there in the letter.

andrew mason was fired just one day after an ugly fourth quarter earnings report.tle sense of humor sending this message to the employees. " after four and have intense and wonderful years as the ceo of groupon, i have decided that i'd like to spend more time with my family, just kidding-i was fired today. if you are wondering why, you have not been paying attention. " groupon's stock, which lost almost a quarter of its value, is up in early trading this morning. >> we will be right back. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >> and the opening bell on wall street. dow futures are down 46. they closed almost 21 yesterday. the futures are down. it puts the dow back down the 14,000 mark. they had a quick drop. we will follow the nornumbers drop the morning. >> today is a gorgeous weather and it takes on us at th

the 32-year-old fired ceo andrew mason said he is accountable and that the company deserves to have adora is imposing a 40 hour a week. it's experiencing some explosive customer growth which means higher royalty cost for the country. and it needs to let advertising catch up. >>> it's a space mission to save earth. what people can learn by hitting the baby asteroid. >>> the change in temperatures you can expect in your comp you can't move the tv there. yuh-huh. we have a wireless receiver. listen. back in my day, there was no u-verse wireless receiver that let you move the tv away from the tv outlet. we can move it to the kitchen, the patio, the closet and almost anywhere. why would you want a tv in the closet? [ both laugh ] ♪ [ fancy voice ] brilliant idea, darling. ♪ [ female announcer ] the wireless receiver. get u-verse tv for just $19 a month for 1 year when you bundle tv and internet. rethink possible. >>> sacramento mayor kevin johnson announced a counter offer to keep the king's basketball team from moving to seattle. >> i am proud to announce that tomorrow the mark mastroff t

the 32-year-old fired ceo andrew mason said he is accountable and that the company deserves to have aader. >>> internet radio service pandora is imposing a 40 hour a week. it's experiencing some explosive customer growth which means higher royalty cost for the country. and it needs to let advertising catch up. >>> it's a space mission to save earth. what people can learn by hitting the baby asteroid. >>> the change in temperatures you can expect in your complete bay area forecast. >> another last ditch effort to keep the sacramento kings in california. the potential buyer and the proposal for a new arena. oh, the lights came on. isn't technology supposed to make life easier? at chase we're pioneering innovations that make banking simple. deposit a check with a photo. pay someone with an email. and bank seamlessly with our award-winning mobile app. take a step forward... and chase what matters. >>> sacramento mayor kevin johnson announced a counter offer to keep the king's basketball team from moving to seattle. >> i am proud to announce that tomorrow the mark mastroff team will introd

it's founder, 32-year-old andrew mason, summed up his philosophy in groupon's ipo filing, quote, lifeeople to save money and companies to boost sales. >> there's never been such an effective way to get customers in the door. in one day, we're often able to bring in thousands of new customers for a small business. >> and have a little fun along the way. this picture is posted on his facebook page saying he once spread a rumor in the office he owns 20 cats and the company has a scholarship foundation for children and parents who used groupon for a first date. >> he wrote this whole letter to shareholders about how we might do really crazy, stupid things along the way. they talked about how they have gorilla suits in the office and dancing classes. >> that colorful side may have suited groupon when it was a young start-up. but mason's quirky, irreverent side stooemz seems to have been too much to the company's board and shareholders. he says in his departure letter, quote, after 4 1/2 intense and wonderful years as ceo of groupon, dive decided that i'd like to spend more time with my fam

on friday groupon fired andrew mason, who sent out a letter to his staff saying i was fired today.roupon lost 75% of its value since it's public debut 15 months ago. livingsocial is also struggling. it lost $650 million last year and has laid off 10% of its staff. >> coming up next, an amazing breakthrough in brain research. scientists at stanford may be on their way to reading your mind. >> and take a live look from our roof cam showing you the bay bridge there in the background. a bit of the san francisco waterfront. you you can see it is overcast. there may be some scattered showers just a little bit in some areas of the bay. and cooler temperatures today. lisa argen will have your forecast in just a few minutes. >> well, it's not quite mind reading but it may be the closest scientists have ever come. abc7 news reporter jonathan bloom paid a visit to stanford researchers who found a way to watch what's happening deep inside the brain of a curious little critter. >> this isn't the kind of mouse you would normally plug into a computer but that's exactly what stanford researchers h

on friday groupon fired andrew mason, who sent out a letter to his staff saying i was fired today. groupon lost 75% of its value since it's public debut 15 months ago. living social is also struggling. it lost $650 million last year and has laid off 10% of its staff. >>> in san francisco yesterday young women who took center stage in a conference with elected female officials. the event was attended by more than 250 high school and college students. participants say with so many young women under pressure to look and act a certain way, some words of advice are always welcome. >> it gets really important for them to come out and talk to us and tell us how they got to the point they are at right now so we can feel empowered to be like them and know how to do it. >> the conference was organized by ignite, an oakland-based nonpartisan organization that builds political ambition in girls and women with an emphasis on low income women. >>> coming up next, an amazing breakthrough in brain research. scientists at stanford may be on their way to reading your mind. and here is a live look fr

for example, the dog that is groupon roared after it announced its foolish founder and ceo andrew mason was being axed at the end of february. same thing happened to avon when wall of shamer andrea young was forced to resign as ceo last april and had to step down as chairman in october. what about when a good ceo leaves, or a great one? we never like losing a talented manager. it's always going to create additional uncertainty. as long as there is a succession plan in place, it shouldn't be that bad. it's certainly not a deal breaker that should keep you away from a stock like when the people at the top leave unexpectedly. consider mcdonald's. in march of 2012 we learned jim skinner, the brilliant ceo will be stepping down june 30th to be replaced by don thompson. i wish skinner could have stayed forever, but the transition was nothing like the shambles that was melanox or ulta salon because thompson is skinner's protege and heir apparent. the stock has been very strong in 2013, rising ten points to nearly $100. thompson's seasoned, ready and rocking. mcd goes higher. how about costco?

but this was all part of andrew mason's contract.s what, he cut his own salary to $756.72 after groupon went public in 2011. divide that by two, that's $378.36. nice severance. but before you cry any tears for him, he'll be okay. he also gets to keep his 47 million shares of groupon and even though the stock has been taking quite a beating, down 80% since it went public, it's still worth over $200 million. and i know what you're thinking. why would he cut his salary like that? it is common especially if you're in the tech industry for these ceos to drop their salary down to $1. facebook's mark zuckerberg did it, hp's meg whitman, all in the one buck club. mason, though, as always been quirky. i want to show you some of his memo to his employees yesterday. he said, "i've decided that i'd like to spend more time with my family. just kidding. i was fired today. if you're wondering why, you haven't been paying attention." and yeah, very funny. he goes on to say he's okay with having failed as part of the journey, though no word yet on wh

the now former chief exec andrew mason posted memo online saying it would leak anyway.ntense and wonderful years as ceo of group on. i decided i would like to spend more time with my family. just kidding. i was fired today. if you are wondering why you haven't been paying any attention. well, a class on lock picking. that apparently seemed like a good idea to the mayor of oakland which has the highest violent crime rate in all of california. the oakland tribune newspaper reports the workshop was for people who misplace their keys. the mayor promoted it in weekly newsletter. turns out the number of burglaries in oakland was jumped and some folks complained. the mayor apologized. says she understands why some people got upset. some beer lovers have claimed that the world's top brewing company waters down its beer. now, with a lawsuit looming, experts have taken some, well, taken some buds to the lab. the results are in. watered down or no? we will show you. first we are learning hisrnor mitt romney in first interview. he and his wife sat down with "fox news sunday" anchor

andrew mason has made $62 million just on appreciation after he was fired so not a bad way to go out,ect that to keep going back down because there's just some big challenges in their business that aren't going to go away any time soon. yelp, a company that's fundamentally misunderstood. you know, it's a business that relies on small businesses and not understanding what exactly it is they are buying, and iol has had structural declines. they have done well in the last couple of years, but i expect that to go back to where it should be. >> let's end on a high note. what will give us hyper growth and drive the nasdaq back to highs? >> well, i've been looking at nvidia. if nvidia succeeds and intel will be itself in a structural decline. intel has missed the ultra mobile market whereas nvidia is hitting it on all four cylinders. the nvidia chip looks like it's closing the performance gap win tell and might even have passed it on the lower end. if this works and you have massive adoption of the arm chutes for office work then companies like nvidia and nvidia itself should be doing very w

other tech stocks we're watching, groupon shares seeing the second day of gains avenues broke that andrew masonld no longer be ceo. zynga also on a tear. and netflix still up 95% just this year. back over to you. >> thank you very much, seema. we heard mr. buffet talking about yields. and the fact that he doesn't like the longer term government bond market. rick santelli is at the cme to tell us more about that and how things are performing today. hi, ricky. >> hi. everybody agrees with warren that treasuries are a crummy investment pu but he said that for a number of years. maybe they are a little less crummy but let's face it. you do the math. look at the ten-year, and look at two days. and you can see we are balancing out. just kind of recooping. earlier today and friday's sequester, fell on its face with regard it market movement. now let's look at every central bank that meets on thursday. the euro versus dollar, virtually unchanged today. but hasn't add good time of it. let's look at the dollar yen. yen is going up today but wow look at year to date chart. the last one, central bank meets

. >> i was going to ask you if you had an opinion on andrew mason. i don't know if you do. that's where i was going with that one. >> it's not a stock that we've owned under andrew's leadership. what we would say there is often what we see when we dig into an area of the market where a lot of change is going on. a lot of times the first company to a market basically has to learn from it, come up with a business model that's kind of a second generation business model. if you're an investor looking at groupon, you have to ask yourself, is this company going to be able to transition from daily deals, 1.0 to daily deals 2.0. and my suspicion is a lot of the change in management has to do with that. >> i threw you a curveball and you managed to hit it out of the park. thanks for dealing with that, henry. we appreciate it very much. >> thanks, scott. >> henry ellenbogen from t. rowe price. >> i think if you look at yelp, that's the one i would buy. take a look at that one. >> it's interesting, small caps lead you up and small caps lead you down. it could be a great fund to own fro

andrew mason was fired just one day after an ugly fourth quarter earnings report.ense of humor sending this message to employees. after four and have been tense and wonderful years as ceo of a on, i decided that i would like to spend more time with my family,-i was fired today. if you are wondering why you haven't been paying attention. >> group on stocks, which lost almost a quarter of its value, is up in nearly trading this morning. >> the muni train store was knocked off while in use during the afternoon commute. the operator had trouble closing the doors while at the four still station, as the embattled ocean train approached the church street station the conductor heard a loud banging. when the train came to a stop, one of the doors in the cards second train was gone. no one was injured and officials will review procedures to determine if the train to seven take off service after the problem at 4 is still. >> you cannot see much at the approach to the bay bridge is socked in by fall. george will guide you through your commute if you're stuck in the fall. erica

about one week since andrew mason announced departure. shares up about 6% since then.ou. >> thanks, seema, very much. >>> to chicago where rick santelli is tracking action at cme. we have been talking about the creep up in interest rates. talk about me. >> it manages to creep even though we know feds are heavily involved in buying it to keep the creep from getting too creepy. now if you look at an intraday chart you can see we are up about five basis point. up more on the week. open the chart up, go all the way back to april of last year. that's the time you will find the comp which means we have basically 11-month high yield. a whopper of a day, up about .75%. best levels in seven months going back to very early august. last chart, don't use this chart much. this is dollar versus peso. you can see the peso is pretty strong but bump along in the range. mexicans cut 50 basis points today. first cut in close to four years. partially controlled capital inflows and to spark economy. tapering off just a little bit. a hot economy, sue, back to you. >> okay, ricky, thank you

the online daily deals pioneer fired its cofounder and ceo andrew mason on thursday.that its business model is flawed. groupon's stock plunged 24% on thursday to $4.23 per share on disappointing earnings results. the stock lost three-quarters of its value since it went public two years ago. >>> and facebook bought atlas from microsoft for an undisclosed price. they will use the service to learn more about the buying habits of its 1 billion users. it sold more than $4 billion in advertising last year. facebook is also aiming to go up against google, the leader in online advertising. if you are going to pick an opponent, pick the biggest. aim high. >> it's popular. >> you have heard of facebook? >> pretty big. >> it's not remaking formal education yet, but i tune has reached 1 billion downloads. they provide books, lectures and other information for free. more than 2400 universities and k-12 host itunes u. wonder if you get a diploma. >> if you are the 1 billionth, maybe you should get freebies. >> better than a diploma. >> ashley morrison of cbsmoneywatch.com, thank yo

chicken wings and bargain basement liposuction, it pays to have a sense of humor. 32-year-old andrew masoncoupon website wrote to his employees, people of groupon, after four and a half intense and wonderful years as ceo, i have decided i wanted to spend more time with my family. just kidding, i was fired today. he seemed to be borrowing a line from conan o'brien's people of earth resignation letter, but that's not all they have in common. these guys are rich enough to talk back. quote, no one should waste a second feeling sorry for me, conan said, as he left his nbc show with a $32 million payout. mason who owns $213 million in stock shares said i'm okay with having failed at this part of the journey. business insider compiled a 13 best resignation letters of all time. >> i would say i would not recommend people to resign this way unless you have a fortune to back you up already. >> many of these guys did. goldman sachs executive director greg smith slammed the company over what he considered meager $500,000 bonuses. jonathan schwartz went out with a tweet that said, seems only fitting to

. >> andrew mason has had better weeks after being fired.ompany's founder fired as groupon's ceo, but he wrote arguably the best good-bye letter ever. if you didn't hear about this, you'll want to stay tuned for this. plus, we'll tell you about some other ceos who went out in a colorful way after being told to hit the road. that's later on the "closing bell." i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any

chicken wings and bargain basement liposuction, it pays to have a sense of humor. 32-year-old andrew masoner of a coupon website wrote to his employees, people of groupon, after four and a half intense and wonderful years as ceo, i have decided i wanted to spend more time with my family. just kidding, i was fired today. he seemed to be borrowing a line from conan o'brien's people of earth resignation letter, but that's not all they have in common. these guys are rich enough to talk back. quote, no one should waste a second feeling sorry for me, conan said, as he left his nbc show with a $32 million payout. mason who owns $213 million in stock shares said i'm okay with having failed at this part of the journey. business insider compiled a 13 best resignation letters of all time. >> i would say i would not recommend people to resign this way unless you have a fortune to back you up already. >> many of these guys did. goldman sachs executive director greg smith slammed the company over what he considered meager $500,000 bonuses. jonathan schwartz went out with a tweet that said, seems only fi

but groupon's andrew mason says he was fired. groupon has been struggling since its ipo. the daily discount company says it will look for a new chief executive. >>> better news from the gap. the blue jean pioneer reporting earnings this afternoon with all sorts of thing investors like to see. higher sales and a rise in the dividend it will pay shareholders. gap stock higher in after-hours trading. >>> a milestone for the marriage of technology and education. itunes u, the apple offering that lets you download educational content hit its one billionth download. stanford university alone which lets you get lectures and other course materials accounted for 0 million of the downloads pie itself. >>> looking ahead to tomorrow, spacex run by eland musk plans to launch its dragon capsule to the international space station. the launch is set for ten minutes after 7:00 tomorrow. we'll let you know how it went shortly thereafter. back to you. >> thanks. >>> the san francisco symphony lost its principal on, bowest. he suffered a -- oboist. he suffered a strike and passed out on stag

andrew mason invented groupon.pany so hot at one time google offered andrew billions of for it and he turned it down. shortly after that it became clear groupon's business model had flaws after another lousy quarter yesterday mason has been fired. >>> it probably hurt his feelings a little that groupon stocks spiked after he was shown the door. stock market is doing well despite that we have entered the sequester. brian shactman of cnbc earlier said everyone on wall street is entirely mystified as to what is driving the markets. let me say that again. cnbc cannot find anyone who understands why the dow industrials are near record highs especially since there are so many downsides. nearest exits may be behind you. >>> lots of people weighed in on yahoo! ceo marissa mayer's plan to end the work from home program. this week on "press: here" we gather our own experts to weigh in. >> i think she's right. i think it's the right thing for yahoo!. maybe not for every company. there are exceptions. you can make exceptions.

it was so bad, i wasn't surprised, not one bit surprised when groupon out and fired inept ceot andrew masonclosing bell." sure enough the stock popped off the bell because that's what happens when you get rid of a delusional chief executive. at jc penney, instead of explaining how it can survive with down 30% same-store sales. as michael epstein from credit suisse said, this was a beyond worst-case scenario quarterly result. i think that the salient issue is not whether the turn is working but how it can still work and why it's not having an impact on the comp store numbers at all. i tire of hearing how this product line or that product line can make a difference, and instead i want to know how the company could turn off so many of the traditional customers and why they don't seem to care about the new assortments at all. if johnson wants to succeed at this point, he's got to change the name of the enterprise, yes, scrap the name jc penney, i'm not kidding. first, the old customers seem to have turned against penney, so you've lost them already. the new clothes and soon to arrive home goods

andrew mason is out at the daily deals site he co-founded. >> tom: that and more tonight on "n.b.r."! >> susie: you know the economy is not very strong when analysts cheer because growth has been revised up by a "fraction," from a negative 0.10%. and with growth flat-lined, economists are wondering whether the upcoming budget cuts known as the "sequester" will derail the recovery. the good news is the cuts will take time to be felt. the bad news, as darren gersh reports, is the cuts will build in pain over time. >> reporter: in terms of its impact on the economy, the sequester is really more of a "slow" quester. the impact of the across the board spending cuts will take time to build and it could be months before its felt throughout the economy. students of government dysfunction say this is not the same as a government shut down or hitting the nation's borrowing limit. >> there is not that great an urgency. when we were talking about the debt ceiling, there was a real urgency, because if we got to the point where you literally can't pay the bills, that's a very big deal. in this case

andrew mason is out at the daily deals site he co-founded. >> tom: that and more tonight on "n.b.r."! >> susie: you know the economy is not very strong when analysts cheer because growth has been revised up by a "fraction," from a negative 0.10%. and with growth flat-lined, economists are wondering whether the upcoming budget cuts known as the "sequester" will derail the recovery. the good news is the cuts will take time to be felt. the bad news, as darren gersh reports, is the cuts will build in pain over time. >> reporter: in terms of its impact on the economy, the sequester is really more of a "slow" quester. the impact of the across the board spending cuts will take time to build and it could be months before its felt throughout the economy. students of government dysfunction say this is not the same as a government shut down or hitting the nation's borrowing limit. >> there is not that great an urgency. when we were talking about the debt ceiling, there was a real urgency, because if we got to the point where you literally can't pay the bills, that's a very big deal. in this case

daily deal site groupon fired its ceo andrew mason after the company's very disappointing earnings reports been down 75% over the past year. it's running into all sorts of problems as bigger companies have also gotten into the online coupon business. >>> gap reported its earnings topping expectations. earnings up by 61% across its three chains of let's check the numbers this morning. off to a rough start dow down 80. nasdaq down 25. s&p down 9. gap is up 1% and groupon trying to come back. up by 2%. back to you. >> they have a tough week. >>> president obama and congressional leaders will meet a few minutes from now but it's unlikely they will be able to do anything to avoid the automatic spending cuts about to kick in. >> joining us with a little bit of insight on this friday, kpix 5 political insider phil matier and former state assembly speaker san francisco mayor willie brown. >> all right arguing. >> mr. mayor, mr. mayor! >> the president has to sign that order by 8:59 p.m. pacific time. so what time does the sky start falling? >> the sky isn't going to fall at all. only thing that's

a company that is still a company that is in search of a business, and the good thing is that andrew masonhen he was out and when he made this comment is why? in other words, it is a speculative bet and he knows it, and that's it. >> this is what bill miller had to actually say about groupon. >> i like stuff that is beaten up than that and cheaper than that, so a company out in his way that we really like is groupon. and so, you know that is, i'm more attracted to the stuff that has warts on it and hair and that stuff. >> you like groupon? >> i like it a lot, yes. >> it has warts and hair and he said fantastic opportunity, and you don't agree? >> no. >> no? >> no. >> you don't like the warts and the hair? >> no, he says it has the warts and the hair, but i'm at the point of thinking that he knows that he can say it, look, what changed today? because the stock is up because bill miller said something. that's it. >> the expectations are that low. >> and he runs a very big mutual fund and it is unusual, and miller has made some bad bets and he beat the s&p 500 for 15 straight years, and that