at the meeting bonderman cut off arianna huffington jokingly saying more women on the board means thereill be much more talking. bonderman apologized calling his remarks inappropriate. his comments come as the company were talking about the investigation conducted by eric holder holder recommendations include 50 ideas to improve workplace culture, including reducing alcohol at work events and preventing intimate relationships between employees and their bosses travis kalanick is taking a temporary leave of absence in an e-mail to his 14,000 employees, he wrote if we are going to work on uber 2.0, i need to work on travis 2.0 to become the lead their this company needs and that you deserve. day-to-day operations will be run by a committee, which includes several female executives including rachel holt this is a much awaited report. the company has grown so big so fast i have to wonder if this is a publicly traded company, what would the stock be doing >> a lot of people say this will impact it. the >> it raises the question, if it does ipo, does it get away with a facebook or snap style

. >> we'll hear from arianna huffington later on this morning. iconic and a board member of uber as they work through some of the hr issues. >> very important. >> this, the companies have runway not to access the public markets the -- >> they don't need it. look at snap. they do the two classes. the corporate governance conference, everyone is outraged about the two classes. nobody votes. >> in terms of snap. >> yeah. in terms of snap. everybody is outraged. in the old days, the exchanges wouldn't allow it. the exchanges allow it. you know in the 1920s they have a lot of these and the exchange didn't like it and they cracked down during the depression. but it's back. you know, you can always sell it. >> you can. it would have been nice if they could get -- gave the slight appearance you had a voice. but you know what they sold it that way. >> caveat emptor. they're not vacuum cleaners. >> you have to be careful with the private market values. they're not efficient. sometimes they talk about a value base in the comment, sometimes they're selling t

>> we understand, you know, ub he uber has some high level executives, the likes of arianna huffingtonho came out this morning in support of kalanick saying he will be in the history books as a great entrepreneur that board will lead the search now. we've seen a lot of high-level departures from uber already, but also other silicon tech companies, twitter as an example. there does not seem to be a clear front-runner at the moment hopefully we will hear more noises around that over the next few days >> arjun thank you very much for that report from london. the other question that people are wondering, does this alter the potential ability to ipo if and when they want to. if that happens, one would think they would not be able to deliver the same restriction shareholder activity >> if it will be an inflection point in the way tech founders maintain control over their companies or is uber an exception? it's been a stunning fall from grace. >> stunning fall from grace, but privately listed, so we don't know but on the surface has not affected the valuation would have been great if we could

the samberg idea is being pushed by arianna huffington.staggs is also a leading candidate for the job. marissa mayer, stepped down from chief executive yahoo! is also in the mix and tim armstrong, former aol ceo, and john martin. kalanick on stepping down from the company he helped start, i love uber more than anything else in the world, at this personal difficult moment in my life i accepted the investors request to step aside so that uber can go back to building rather than be distracted by another fight. the board said travis always put uber first. this is bold decision and sign for his devotion and love for uber. by stepping away he is taking time to heal from the personal tragedy and giving the company room to fully embrace this new chapter in the company's history. we look forward to him serving on the board. kalanick's exit came from pressure from top executives that wanted the troubled ceo out. uber is scrambling to clean up its corporate image after a string of recent scandals, internal investigations and lawsuits led to number of

absolutely, and i think they have the right person to do it in arianna huffington.ut expect a massive cultural shift. they've already cleared up most of the problem executives and i think it is an easy shift to make. that culture has no place in today's modern workplace. something that's talked about more broadly in silicon valley. do you think the changes might reverberate throughout that tech sector? >> i hope it does. it's time to get rid of founders who cannot run companies, who dollarssed billions of and have no accountability to shareholders who then burn all that capital. kate: let's check in on the day's trading action. wall street has been fairly mixed throughout the session, the nasdaq is up and take stocks resumed their trading through up .65% this hour after rising slightly as the u.s. said it's oil stockpile had decreased. oil prices down about 2% this hour. european stocks close down about .3%. probably it was the biggest loser. a reorganization had not gone as planned and wait on its annual profit. the king of saudi arabia has named his son and succes

media executive arianna huffington. in 2012, trump wrote, she's unattractive, both inside and out.i fully understand why her former husband left her for a he also tweeted about what he called about actress bet bette midler's face and body. >> when he tweets, he gets results. >> results, really? randi kaye, cnn, new york. >> we're back now with the panel. joining the panel is michael de antonio. for a guy who has reached the pinnacle, he's now president of the united states. he has won. you know, it's as high as you can go. he still is so thin-skinned that he wakes up in the morning and watches "morning joe," which he claims he doesn't watch, and is so outraged that he launches this attack. if i'm a world leader, i read his tweets and you can kind of figure out what his weaknesses are. >> that's true. and this is an unusual thing to note, i think, is that despite his achievement and the fact that he's now the most powerful person on earth, donald trump's life experience is actually quite limited. if you think about what makes a person strong, what makes a person thick-skinned, it's

uber toxic culture marked by allegations of sexual harassment, a board member said this to arianna huffingtononly female board member: >> there is a lot of data that shows where there is one woman on the board, it is much more likely there will be a second woman on the board. >> actually it shows there is likely to be more talking.>> reporter: david silverman apologized and resigned from the board after the comment was leaked. and ceo travis kalanick is setting -- stepping aside indefinitely. he said he needs to work on becoming the travis 2.0 he stated in a companywide memo. this announcement came on the same day former attorney general eric holder's law firm released a series of recommendations on changing the pro-culture at uber. under travis kalanick, culture was described with headlines like principled confrontation. among reports, 47 recommendations, adopting values that are more inclusive, emphasizing teamwork and meant -- mutual respect, and cutting back on alcohol and drugs on the job and at work events. >> i guess time will tell. hopefully now that it is a valid public issue. >> rep

and arianna huffington was talking about the importance and value of having diversity on boards and nowwo new board members and guess who they are. >> two more men. >> dudes. that is correct. now, uber's board currently includes two women. but i want you to put this in perspective, only 20% of board seats at fortune 500 women are held by women, and that is less than 10% of boards that get filled by activist investors. so what gives? >> take a look. big brand names and i'll tell you about how many women they have that o. their board. johnson & johnson, only two women. coty, one woman out of nine total. l brands, which used to being be limited, two women out of 12. bed bath & beyond, only one woman. and dillard's, one out of 12 is a woman. all right. think about that. >> and look at those companies. who do you think shops in those stores? >> we'll let you answer that. >>> some news this week on a story we've been covering, housing costs, this concerns everybody. one-third of u.s. households are so-called cost burdened by what they pay for housing. this is a study put out by harva harvard.

at a staff meeting between uber board members arianna huffington and david bonderman. >> there's a lotdata that shows that when there is one woman on the board, it's much more likely there will be a second woman on the board. >> actually, what it shows is it's much more likely to be more talking. >> audience: ooooh! >> trevor: oh! you can tell this guy works for uber because he does not know when to shut up. ( laughter ) seriously. how stupid is he? the sexist insult is bad enough, but interrupting a woman who is talking about sexism to make a sexist insult-- that's like bill cosby trying to slip quaaludes to the judge at his trial. that's what that's like. and even bill cosby knows better than that. even he knows better. although, although, yesterday, out of nowhere, cosby did something-- he was-- he was coming out of court, and he did something that was super weird. >> as he was leaving the court, cosby mimicked one of his characters, fat albert. >> mr. cosby, any comment about the jury deliberations? >> hey, hey, hey! >> trevor: what are you doing? ( laughter ) like, what are you do

obviously, it needs to start at the top, the board can have this investigation led by arianna huffingtonuals in the firm do not change their mind set, then clearly nothing is going to change when it comes to action. we always talk about every contact leaving a trace, so from getting the medical health records of someone who accused her uber driver of raping her in india, all the way through to these parties, as we have spoken about, it is all there to haveit spoken about, it is all there to have it blasted on your silicon valley walls that he will always be hustling, but if you don't pull that through into sensible corporate behaviour, it is now a $60 billion valuation, it needs to start to grow up, and! valuation, it needs to start to grow up, and i think part of that these two come from the top. we appreciate your time two come from the top. we appreciate yourtime and your two come from the top. we appreciate your time and your insight. we will fill you in as there is more news. let's take a look at some of the other stories making the news. the company behind some of britain s leading

line is out the door to replace travis transfected well-known names like sheryl sandberg and arianna huffingtonth the industry top quality survey. we will tell you which brand drove to the top of the list. cheryl: 5:31 a.m. thursday june 12th -- lauren: june 22nd. cheryl: is that? uber i am lauren simonetti. you are watching "fbn:am," your first look at morning markets and breaking news. the correct times and days. turned to look at this right for you. senate republicans are going to unveil their version of the health care bill later this morning. this measure expected to roll back the obamacare expansion of medicaid. people not buying insurance coverage and eliminate taxes that pay for obamacare. lauren: a rally in cedar rapids, iowa, president trump up domestic about the senate bill. >> we have a very slim 52-48. that means we basically can't lose anybody. i hope they guarantee anything but will surprise you with a really good one. i've been talking about a plan with heart. i said at the money to it. a plan with heart. obamacare instead. lauren: democrats strongly criticizing republicans thin

arianna huffington is currently the only member.he later apologized. >>> uber ceo travis kalanick will take a leave of absence as culture. he said he'll work to focus on myself and to focus on building out a world-class leadership team. >> uber released a report yesterday. they include transferring some of kalanick's responsibilities, creating new requirements to handle harassment complaints. holder's investigation was prompted by a scathing post by a former employee susan fowler who ahedged mismanagement and sexual harassment. jodi is a correspondent. good morning to you both. >> set the tone, joni, for the meeting. mr. bonderman said his statement was taken out of context. >> this was about the most imagine. as reported the former attorney general has just investigated the company. they're saying they're going to remake this company from top to bottom. the ceo is about to take a leave of absence. the whistle blower who revealed the sexual harassment is getting a round of applause at this meeting and then a board member takes this

. >>> we have arianna huffington who's on the board and who has seen some of these reports on squa squaukuawk on the street." willfred is in london. >> reporter: the chairman of brittain, rod very much a pro, the former conservative government minister who led the brexit campaign last year, what does that issue mean to markets going forward. on the topic of michael goff. we'll explain that how and how it's influencing this election. i don't miss much... definitely not the traffic. excuse me, doctor... the genomic data came in. thank you. you can do that kind of analysis? yeah, watson. i can quickly analyze millions of clinical and scientific reports to help you tailor treatment options for the patient's genomic profile. you can do that? even way out here? yes. even way out here. tthat's why at comcast,t to be connected 24/7. we're always working to make our services more reliable. with technology that can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable

prominent women who are said to be on the list facebook coo sheryl sandberg and uber board member arianna huffington have taken their names off the list. >>> looking to cut out the middleman goldman sachs says the world's biggest sportswear maker is close to a deal to sell directly to amazon. nike already sells gear on amazon through third-party dealers. the deal could bring nike up to $500 million in additional revenue. the potential partnership could mean more competition for dick's sporting goods and other brick-and-mortar stores. >>> virtual-reality being used to transport fans into music concerts. live nation teaming up to give fans a front row seat to their favorite band live without having to leave your couch. concerts are broadcast with 10 different cameras on stage behind stage and in the audience all you need is a vr headset and smart phone to download the next app.>> virtual-reality provides us this opportunity to experience the thrills and chills you can experience live that is something we try to capitalize on. >> the summer concert series is free right now for those that want to join t

not good optics. >> arianna huffington says she member doing the right thing and stepping down but nowmbark on the difficult tank of truly changing that company culture and it's not going to be easy with ceo travis kalanick on leave for an indefinite amount of time, and, guys, they are still looking for a number of new executives to put into this company. they do have a leadership deficit. >> how do they recover from all this? >> it's going to be a long road ahead and the employees, there are so many employees who want this to be a great company, they want it to be done for them. they want a better culture and also a good ipo next year which is part of the plan. >> that is. rebecca, as always, thanks so much. >>> now to the verdict that could come at any moment in bill cosby's sexual assault trial. jurors deliberating this morning after asking to hear key parts of the testimony again on tuesday. abc's linsey davis is at the white house this norristown, pennsylvania, for us. good morning, linsey. >> reporter: good morning, robin. 16 hours of deliberations and counting. yesterday the jur

the officials say the sandberg is being pushed by board member, arianna huffington. it is unclear if sandberg is even wants the job. melissa? liz: tracy, thank you. jonathan and ken are back on this one. what do you think of the shake-up over at uber? >> you know, warren buffett had a great line which was that when a great ceo meets a lousy business model or a lousy ceo meet as great business model, it is the ceo's reputation that will change, not the companies. and the key to this one i don't really understand is exactly what uber gross operating margin is. if it is relatively fat in the 40 to 50% range, it will not make much difference. if it is thinner and losses are on thinner gross operating margins, uber will have problems. they really need somebody a supercharger, super champion, super put it out. you can't settle for a normal ceo. liz: jonathan, this is, this is the normal thing that happens with these companies though. you have the entrepreneur who has the idea, who gives birth to it. who create this is incredible company. once it is big, you need to bring i

arianna huffington is another name being floated around.at disney, the former yahoo chief marisa meyer. the list is long. the line goes out the door. i'm going with the woman on this one. i thought it would have been sheryl sandberg but she's not interested. >> the key i something like that wants the job. >>> nike its a big job. big problems to fix. >> nike putting their shoes in a different direction right now something they have not done before. >> reporter: they never sold& on amazon. did you realize that? you couldn't by nike sneakers on amazon. >> i did not. >> reporter: you might be able to soon. nike is looking at the situation. their rivals sell on amazon. amazon is tremendous. current department stores where nike is selling now their business is slowing so how to you up sales? you cave and you say, okay, amazon, we're ready. here's our sneakers, here's our sports gear. >> got to stay in the game. >>> all right, so what is it that we are doing as we enter another depressing note what is it that we are doing now to prepare for vacati

during the break i started to write out a list of all the women that president trump -- arianna huffingtonruth bader ginsburg, talking models -- >> you don't have pocahontas in there, that's what he called senator elizabeth warren. >> anna, what is going on here? >> i think you've got a very immature man who has not made the transition into being presidential and never will, who is thin-skinned, who cannot take criticism, who has surrounded himself by enables, yes men and yes women who know their jobs depend on them nodding their heads and defending every insane, wacko thing he says. i think he thinks he can get away with it, that he bears no cost for doing these things. i've got to say, until now, we haven't seen him bear a cost. he's been able to do this as a private citizen. he's been able to do this as an entertainer, able to do it as a candidate. for the last six months he's been doing it as president-elect and president. i have to say, since i think he's beyond repair, i've got to talk to the people around him, some of whom i knew before they were drinking a lot of orange kool-aid. t

arianna huffington, who is abu per board member, her name is on the list.she said no. the board wants a woman. the culture of sexism has been an issue at uber. i say as a woman, does a woman in the ceo job actually fix that? i don't think necessarily. stuart: fair question, isn't it. you have got sort of a culture which is, it doesn't work in this day and age and it is abusive. how do you change it? do you change it with a woman at the top? is that the next? >> i'm not convinced it is. i say this as a woman. i have a feeling that sheryl sandberg, author of lean in and others, knows this. it is not about gender. it is about who you are as a leader. it is about who you are as a manager. they have to get the right manager to fix this already, who takes over the job as ceo will be a multimillionaire, i say if, but when company hits the ipo market. so i think alan mulally would be a great choice for that job. i have no idea if he wants it. disney ceo. stuart: other side of the coin, there is another side of the coin here. over 1000 employees asked uber to sign a

the list is long and among those who could be considered is arianna huffington.is currently on the uber board. kalanick resigned following a series of scandals that did not sit well with investors. a light earthquake rattled the east bay earlier today.... and was strong enough to generate a few calls to the kron four newsroom. the u-s geological survey says, it hit just after noon, measuring 3-point-3 in magnitude .. it was centered near kensington. no one was hurt and there are no reports of any damage, but it definitely frayed some nerves. we had a few callers reporting feeling a sharp jolt... and their homes shaking. an update on story we have been following in the south bay. san jose is moving forward with plans ...l for a massive google development. the city council late last night ... passed an agreement to enter negotiations with the company. google is proposing a 6- million- square- foot office and retail center around the diridon station. the project could bring as many as 20 -thousand jobs to the city. google likes the location because of its close prox

great lineup of speakers, arianna huffington, bobby brown, so much more. can't make it in person check out cnbc.com/iconiclive. you can watch the entire live stream there. back to you. >> great stuff as always, kate. we look forward to it, thank you. >>> still ahead, the nba finals can draw a crowd. last time ratings were this high, bill clinton was in the white house and michael jordan was the main attraction. next another basketball legend, mag magic johnson, weighs in on the business, ratings, and even the president as we'll leave you with the worst song ever. stick around. >> opinion. your opinion. a used car, the mwhat the...turned. [ eerie music ] [ guitar plays ] [ music abruptly ends ] [ alarm beeping ] [ guitar plays again ] [ music abruptly ends ] [ alarm beeping ] [ guitar plays again ] [ drum beats ] [ upbeat music ] she is real. the mummy. rated pg-13. >>> live sports again proving it can draw big crowd. this year's wave cler's warriors so far giving best ratings since mj. watch it all closely. one of the gatest who's ever played the game, mag

ceo travis kalanick stepping down take a listen to uber board member arianna huffington talking aboutspoke to her earlier this month. >> the numbers released yesterday showed that out of 215 complaints, 122 are not corroborated 47 were about sexual harassment. so it all depends on your definition of disturbing, but what matters and what my commitment as the only woman board member is is to take that number and reduce it to zero >> for more this morning we're joined by former metronics ceo and jeff sonnenfeld. >> controversy, jeff, around kalanick is not new. why do we think the board acted now? >> i think now they recognize that with his future uncertain, recruiting a chief operating officer with five players of unknowns around makes this a very hard job to staff running the company as a committee of 14, find a town square or a village anywhere that has a statute of 14 people on the committee they need some bold leadership in there with kalanick's uncertain return, this was too confusing and, you know, you have a leadership vacuum with 20 key positions from the head of engineering, cf

some factions that have emerged bill gurley on one side perhaps with david bonderman and then arianna huffingtonamp what's been a long time friend of travis' and cofounder of the company on the other >> that's the issue. garrett camp who is chairman and cofounder along with travis, the two of them if they align themselves, they effectively control everything now -- >> how much do they own between those two? >> it's not entirely clear what exactly the proportions are but together they would have controlled all of those. or effectively control the votes. and so therefore, it comes down to a relationship between travis and garrett camp as a chairman if that fractures and we're hearing through sources that it is -- it's being pressured anyway, that relationship, that could push travis out. or at least push him aside long enough that they could change management, change the leadership >> what does that look like? he leaves temporarily. >> right >> they install a temporary ceo? a coo? a president? >> thetemporary ceo i think th most likely candidate if we're going to pick a name is going to be garrett

arianna huffington was convinced that kalanick could be recuperated.ould be find of fixed so that he could come back and continue to lead the company. because he's definitely the person who got the company to where it is. his hard charging ways but this problem is one that persists in silicon valley and we'll see if this has impact on other companies. >> some of the findings of the holder report were absolutely staggering sort of a revelation of a bro-y kind of culture. a culture of drinking at company events, patterns of sexual harassment and when you have five major shareholders essentially banding together to send this letter out, all according to "the new york times," to demand or to ask kalanick to step down, they control 40% of the voting power of uber shares so you got to listen to these guys >> but the narrative changed fairly quickly because the narrative up to this point had been that kalanick and his co-founder as long as they stuck together on this would be able to stave off any insurrection, they were the ones who controlled the majority o

at the meeting bonderman cut off arianna huffington trying to jokingly say that more women on the board means "it's much likely they'll be more talking." that was the comment bonderman since apologized but his comments immediately came under yes, squestion as thr discussing the findings produced by eric holder into the company's corporate culture. holder offered 50 ideas to improve workplace culture, including reducing alcohol use we talked about that mem move that went out before the party they were having, some of which talked about alcohol separately, uber announced travis kalanick will take what is being described as a temporary leave of absence no exact date for when he will be returning we'll talk more about all of this in just a bit with an expert clearly, you said i'm on egg shells i don't feel like i'm on egg shells >> let's hear your comments then >> i think right now in the valley there's a remarkable sensitivity around all of these issues >> okay. >> rightly, by the way >> there you go. >> clearly an issue at uber. i think in the moment of what was taking place yesterday, th