. >>> a similar story at avon. investors got a chance to react to news that avon plans to cut jobs. the world's largest direct seller of cosmetics will cut costs and return to profitability. the strategy could result in annual savings as much as $55 million. despite that, shares fell about 1% to $14.55. >>> and the federal reserve is giving citi group six more months to resubmit a revised capital plan. the bank rejected the original plan in march, citi needs the okay. without it, it can't increase dividend. shares fell to $47.81. >>> one sign an economic recovery may take hold is happening in those states hard hit by the great recession. scott cohn reports on one that finds itself on top of a new study ranking america's top states for businesses. >> reporter: the recession hit the people of georgia where they lived, literally. georgia over built, over built badly. then the state lost more than 300,000 jobs in the housing market a mainstay of the state economy crumbled. at the worst, georgia lead the nation in foreclosures, one in every 300 homes and as late as 2011 the republican go

countries such as turkey and egypt already the most popular destinations for russians will be getting avon a little popular they say now this also means that european ackles the suffering from a slump in. now the slumping ruble is also being the russian shoppers budget which is four times the size of the average traveler luxury shopping such as london and frankfurt they're suffering the most because that desire to have bags that watches a sun losses will the staying on the shelves due to russians staying closer to home with. one woman that could serve before to treat herself to a cheeky how bag or even a fancy hat or two is queen elizabeth the second is they reveal that the royal family costs the taxpayer. thirty five million pounds a year on the coast well it's going to be the next year to reach for who she really had which each tax payer is equivalent to the cost of a dairy milk chocolate bar but most of this money doesn't actually go straight to her highness it's got a hair anything about it goes on property maintenance stopping all of the buildings from decaying expensive stuff accordi

andn an ur guns eleanor roosevelt believed that highly avon was a military.e o state-of-the-art meaningally, she eleanor roosevelt, denounced ofothy thompson on the floor was -- whenn she roosevelt was the head humanitarian commission. you. was justhompson embarrassed.ry as a matter of fact, after that, her movement died on the vine. resigned. >> we have time for one last question. given us an amazing portrait of each of these two women. say a little bit more about their relationship with another. do they encourage each other? did they compete with each other? did they see each other as women with difficulty sons? how do they relate to each other? >> well, i think initially they related to one another as women were bent on doing the same break intoh was to this male-dominated world of literature. i think their relationship was complicated because of their different personalities. west was quite cagey and what she said in public was not necessarily what she wrote in letters or said in private conversations to friends. while on the surface she was loving toand she saw dorothy as word an intel

liz: it's sort of jewelry meets tupperware parties meets a little avon -- >> but a lot cooler.jewelry that people can get, and you figured out a way to give people a lot of choice. we've got some of the products, and i'm wearing two pieces right now. >> thank you. liz: talk about your price points and how they have changed since you began in the business. >> well, with stella and dot half the line's under $50, and there are some splurges which our hostesses often snap up for free with their hostess rewards. what it is is an accessible price for everyone, but gorgeous style and quality guaranteed, free and easy returns. so we've really modernized the model because a person can swing by for style and shop at a trunk show for personal service, but there are style lists who also help them shop online with personal styling tips. every stella and dot business owner has a web site, a mobile app. so it's combining not only the product, but the personal invest and advice of -- service and advice of a stylist in a way that every woman gets the instant benefit from with the product that t

and now, the bard of avon, david letterman captioning sponsored by worldwide pants and cbs ( band playinglate show" theme ) ( cheers and applause )

. >> these are the ges, the procter & gamble and avon and top quality global companies doing a great job in diversity and so many other things as the research would indicate. >> well, we want to thank you very much for joining us. it's a wonderful thing you're doing. thank you. >> up next on the money, a look at the news for the week ahead. if you think you are diversifying by keeping your old 401(k) plan, think again. it could be eating into your savings. >>> go to otm.cnbc.com and follow us on twitter at on the money. on monday, apple shares will begin trading after a 7-1 split on the nasdaq. spacex falcon 9 is scheduled to launch from cape canaveral. soccer fans all around the world will watch the 2014 world cup being held in brazil. and starbucks is hoping customers will dine in their first restaurant which is based in los angeles. on friday we get the producer price index for may. >>> you have a new job recently? you might need a new retirement plan as well. is it a good idea to have multiple retirement savings act from various employers. sharon epperson has answers. >> having s

avon is cutting another 600 jobs, mostly in its corporate organization. sales of the door-to-door cosmetics company have been dropping. new ceo took over in 2012, and have been trying to cut costs. this latest round of job cuts is expected to save $50 million a year. >>> president obama wants to make the working world a little bit more family-friendly. he spoke at a white house summit for working families, he says united states is the only industrialized country in the world. and which companies aren't required to offer paid maternity leave. the president directed federal agencies to offer more flexible work arrangements for moms, but he's yet to back legislation that won't force paid family leave. >>> and, just in time for summer, how does a cold starbucks soda sounds? starting today, the coffee giant will be rolling out a designer soft drink, the hand crafted sewed's come in three flavors, spice, root beer, golden ginger ale, lemon all. will brew up carbonated soft drinks. cost bit more than coffee. a tall will sell for about 2.45. ukee, erika, some tri

and now, the bard of avon, david letterman!ing sponsored by worldwide pants and cbs ( band playing "late show" theme ) ( cheers and applause )

avon is cutting jobs to try to get back to profitability. will eliminate 600 jobs, mostly from the corporate side and the north american business. avon has posted losses in 5 of the last numeral six quarters. alan mulally is saying goodbye to ford. he engineered a turnaround in cap for it out of bankruptcy, atike his counterparts general motors and chrysler. in an interview with matt miller, he talked about the recalls that have been plaguing the industry. >> i clearly can't speak for general motors, but this industry is really important, and it is important that we make progress on the issues we are dealing with. i am so pleased with the way ford operates, the respect they have for the process, and the way we stay so aligned with the process and any time we find in issue we move on decisively. any automobile company that has an issue, we review the issue and check everything through ford to make sure we don't have the same issue because what is really important is the integrity of the great industry, which is dedicated to safe and efficient

. >>> in business news, the avon lady may be looking for work.-to-door saleswoman, cutting 600 jobs. it's part of a plan to reduce spending at the company. avon has lost money in five of the last six quarters. >>> finally, queen elizabeth did not sit on the throne today, when she visited the set of hbo's hit "game of thrones." the hit series contributes hundreds of jobs and tens of millions of dollars to northern ireland's economy. the cast gave her a miniature version of the iron throne used in the show. that just tells me there is more coming. and i cannot wait for the next season. "game of thrones." over to you guys. >> i know you're holding your breath. thank you, amy. >>> we're going to turn to the new report about reading to your kids. it's never too early. a study from the american pediatrics, says that parents should start when they're babies. >> the recommendations really come as we learn that parents who read to their babies improve the vocabulary of their children, starting at 18 months of age. the new recommendations also offer relief

who opened world's first pawn shop for $15,000 sneakers, and a new version of a von sales women -- avonen, now, for nonyoutube stars, going from high school to workforce, i have advice for you, a couple weeks ago, i came home, my god son of in housewareing a suit and a black shirt, he just came from a job interview it bothered me, that he did not know to where a white shirt, he said down have one, i decided i wanted to help, any new york city teen graduateed from high school straight to job market, if you don't have enough money to get a white dress shirt go to porta bale on white planes road, ask for dr. manuel, i have prepaid for 50, you will get a shirt, and a tie and a hankey too. also, if you can bring your resume i am going to have a lot of experts look at them, but it is not conditional on that. no one said wear a white dress shirt. no one said go clean shaven, no one said, if appointment is at 9:00 show up at 8:20. >> i am to say, white dress, what about ladies? >> i know. charles: i don't know how to handle ladies. ladies. it looks like the set after the millen y'alls might be

avon facebook, i love your new show. i have a question.uld i be looking exclusively for wrote why did most companies? thanks. charles: that is a great question. when someone says only i bristle with that because i think you should have balance. essentially what people are talking about are big, giant companies wary is hard for competition to go at them. a railroad, you cannot start a railroad overnight. it a drug company that just got a patent on a multibillion-dollar drug, no one console that drug overnight. these are relatively safe companies. it depends. if you're trying to protect them multimillion-dollar fortune you want some exposure to the market, some outside, some dividend yield. other than that, mix it up. what do you tell people? >> right now we like defensive stock and companies that have a nice dividend yield. charles: but your in that kind of mode. >> and, look, if they are paying me to rage, i am all for that. i will be paid to wait on one side and take risks of of the table and then maybe play with a little bit more in grow

. >>> avon cutting about 600 jobs as it trying to return to profitability.imon, down to you. >> sue,en a tale of two quarters at carnival, the world's largest cruiseship operator, comfortably beating estimates thanks to smaller than expected rises in costs, but investors are disappointed the ceo join us in a cnbc inclusive. mr. donald, welcome back to the network. >> thank you, simon. good to be with you. >> tell us, how were you able to control costs so well in the quarter that we've just had? >> well, you know, vessel a very dedicated team of people, and they've always been cost focused, but we have been able to begin the initiation of collaboration across the brands, but it's not just costs. we definitely have some advantages there, but really strong performance in brands both from a yield standpoint. europe is looking stronger, also good performance from the north american brands. the summer quarter is the be all and end all. of profits. it's important for people to gauge the direction of the -- but some people are puzzled as to why you're not being more

. >> avon calling. >> very good.eady for my closeup. >> if the producer of the come back, which as i said, is returning this year i think on hbo, do not give this flight attendant a three episode ark as micki's husband, i'm done. i'm just done. back in the skies, the best flight attendant ever is reminding people about the pesky oxygen masks. >> in the event of a decompression, buttercup mask designed by gucci and martha stewart will drop from that compartment overhead and you continue wearing that mask until otherwise notified by one of your three uniformed crew members. >> wait a second, he said uniformed crew members, are we sure this guy works for said airline or is he just someone in khaki shorts and a flag tie who happened to grab the mic? i like his style. he's a showman. i like the best show men, this guy knows that you need to have a big finally. >> ♪ we love you, you love us, we're much faster than the bus, we hope you enjoy our hospitality, marry one of us and you fly free ♪ >> you got to love a crew membe

avon 5% of sales, don't like avon because of other issues. kimberly-clark, 2% of sales.bers 2016, that to would be done by 2015, it's significant for numbers because we are all tired of hearing number cut venezuela. >> strangest thing in these earnings press releases on the huge multinationals where you run into venezuela currency a reason for some sort of adjustment. >> this looks like the beginning of the end of chavez two-tiered to u.s. companies foreign exchange system. you'll be hearing about this over the next few days. first, obviously in this, which is great, you're first in a lot of stuff, but shows trying to break ground here. colgate, proctor, kimberly-clark and clorox. i think you want to own those stocks. >> coming up tonight? >> we're doing a little world cup situation. what companies we think around the world are going to do well. i'm tempted to rip it up and talk about the wonderful eaton company in ireland but we're not going to do that. by the way, congratulations to williams company, wnb shareholders the winners buying access midstream. stock up 15%. >

got to because i like mccoy, but i can't pull the trigger, i think there's structural problems at avonwant to touch it. gnc and vitamin shoppe. one of these is not like the other. don't let gnc's weakness scare you from the business as a whole. vsi is still good for you. there's more "mad money" ahead. h & r block just shattered the quarter by helping america shell it out to uncle sam. should you spend your refund on the stock? i'm talking to the ceo. stick with cramer. oh my god! look. you need to see this. show 'em the curve. ♪ do you know what this means? the greater the curvature, the bigger the difference. [sci-fi tractor beam sound] ...sucked me right in... it's beautiful. gotta admit one thing... ...can't beat the view. ♪ introducing the world's first curved ultra high definition television >>> ordinarily, it's not the time of year when i'd recommend buying a tax preparation company. but 2014 is not an ordinary year. and h & r block, the largest tax repairer in america is not an ordinary company. i'm not saying this because they reported a fantastic quarter this morning showing

avon had one of these not that long ago where they said, listen, it was a bad quarter. you want to hear someone say a bad quarter is a bad quarter f.quarter wasn't bad go right to the numbers and right before the q&a begins give us at r an outlook of what you think the forecast is going to be for this quarter and next year it should be reasonable if you want to raise the forecast, don't go nuts but show us some conviction that business is going to be better next year or shut up. let's go to tomy in maryland. tome. >> caller: jim, thank you for taking my call. >> of course. >> caller: how did i identify a bubble stock and if i'm positioned in one how can i strategically plan my exit? >> i like to own, if i'm going to own a stock that you call a bubble stock do it with deep in the money calls that cuts off my downside. let's anticipate the upside. bubble stock to mesa stock that's not defined by the four walls of earnings per share, a stock that's measured on revenues or some other cockamamy way to measure things. i like earnings per share. i accept the fact that when i'm

avo avon had a similar scenario. now elizabeth arden. >> teslaen o a run. up 15% over the last week. barclay says the auto company may miss it sales target for the quarter. pete? >> that's giving the stock a little pressure after the immense run over the last couple weeks. i think adam m jonas is probably the best in the field right now when it comes to tesla. that's who i listen to. morgan stanley analyst. he's very bullish on it. i remain bullish on it. we had activity the other day. july 255 calls. i think the stock is actually just pausing here before it goes higher. >> pete, the stock is only down .5%. it's actually pretty good price action given the enormous run. >> after this call when you listen to adam jonas, you can see all the reasons he's saying don't embrace right now. look forward. this is a very interesting company. >> let's talk navastar shares up. it struck an agreement with carl icahn. >> tesla, you need binoculars to look forward. that's huge. >> they're talking 2022s. >> i don't look that far over. navistar, the company shareholder right

. >> avon calling. >> oh, very good. this is mickey.ight, if the producer to "the comeback" which i think is returning on hbo does not give the flight attendant as a three episode arc as mickey's cousin, i'm done. the best flight attendant ever is reminding people about those pesky oxygen masks. >> in the event of a decompression, a yellow buttercup mask designed by gucci and martha stewart, they're going to drop from that compartment overhead. you continue wearing that mask until otherwise notified by one of your three uniformed crew members. >> do you notice he said uniformed crewmembers? are we sure this guy actually works for said airline, or is he someone in khaki shorts and a flag tie who happened to grab the mic? either way, i like his style. he is a best showman. like the best showmen, sinatra, lou dobbs, this guy knows you need to have a big finale ♪ we love you, you love us, we're much faster than the bus, we hope you enjoy your hospitality, mary one of us and you'd fly free ♪ >> all right. you got to love a crewmember who is

-- middle east division. , he wasoining pepsico the senior vice president and general manager for avon products. he worked as a management consultant before that. he holds a masters degree from johns hopkins university and a bachelors degree from boston college. lieberman is a. graduate of johns hopkins. fordhite is also a foundation fellow at leningrad state university in st. petersburg, russia. constituents are very loyal customers. our next witness, we are glad to stephensonr. randall , the chairman, president of at&t. let me say this. at&t is one of the world's largest telecommunication companies. note that over the past six years, at&t has invested more capital into the united states economy than any other public than $140d more billion invested in wireless operations combined. that is erected to be proud of. i commend you for that. , he servedcoming ceo as the chief financial officer at at&t from 2001 through 2004 and then as the chief operating officer from 2004 through 2007. he was appointed to the board of directors in 2005. he began his long career in telecommunications in 19

white was the ceo and vice president for avon products and worked as a management consultme consultment. our next witness -- we are glad to have you and mr. randal stephenson is care >> each of the witnesses written statements will be entered in the record and we will ask each witness to summarize his testimony at this moment in five minutes or less so with that now we proceed to hear from our witness witnesses. mr. white, you go first and we will go from lie my left to right. >> my name is mike white and i am ceo of directv. thank you for allowing me to testify. for any business to succeed in the long term it must satisfy its customer's need day in and day out and this will help directv and at&t do exactly that. we be able to offer new services to customers at a better value. we will help consumers watch the video when they want it, where they want it and on the device of their choice and we will be in a position to compete long into the future. i would like to describe directv's perspective on the transaction. it is a remarkable suggest success story. we have more equipment and better

before joining pepsico, he was the senior vice president and general manager for avon products. he worked as a management consultant before that. he holds a masters degree from johns hopkins university and a bachelors degree from boston college. we also have mr. lieberman is a graduate of johns hopkins. mr. white is also a ford foundation fellow at leningrad state university in st. petersburg, russia. many of my constituents are very loyal customers. our next witness, we are glad to have you, mr. randall stephenson, the chairman, president of at&t. let me say this. at&t is one of the world's largest telecommunication companies. i note that over the past six years, at&t has invested more capital into the united states economy than any other public company and more than $140 billion invested in wireless operations combined. that is erected to be proud of. -- a record to be proud of. i commend you for that. prior to becoming ceo, he served as the chief financial officer at at&t from 2001 through 2004 and then as the chief operating officer from 2004 through 2007. he was appointed t

white was senior management and consultant for avon products. and also worked for arthur anderson and company. mr. white holds a masters degree in international relations from johns hopkins university and a bachelor's degree from boston college. we also have mr. leeberman as a graduate of johns hopkins. mr. white is a ford foundation fellow from st. petersburg, russia. i say on a personal nature, many of my constituents are very loyal customers of direct. our next witness is -- we're glad to have you -- mr. stephens and mr. randall stephenson is chairman, ceo, and president of at&t. mr. stephenson, let me say this. at&t is one of the world's largest telecommunications companies are merely $129 billion in revenues last year. i note that over the past six years, at&t hais invested more capitol into the united states economy than any other public company and more than $140 billion invested in wireless and spectrum wireless operations combined. that's a the record be proud of and i commend you on that. prior to becoming ceo he served as at&t's senio

making headlines, avon products is going to cut about 600 jobs. the cosmeticsmaker says its restriction efforts are expected to result in annual saves of about $50 million to $55 million. and micron is posting better than expected quarterly results. there have been signs of stabilization in the pc industry and that could fuel demand for more memory made by companies that include micron. >>> also, an air bag recall is spreading to more automakers. bmw now, chrysler, ford, honda, mazda, nissan are all recalling cars because their air bag inflaters could rupture. the air bags are made by a company called recatta. that's incredible, one company that does the air bags for everybody. >> that is what they worried about when you worried if any of the big three are going to go under. >>> let's take a look at the markets this morning. right now, futures are indicated lower. if we were to open right now, the dow would you down by 43 points. the nas could be would be down by 9 1/2. this comes after a mix dollars day for the markets. you can look at the dow an

search i think indicated and is showing these are companies like ge, pepsico, xerox, procter & gamble, avon quality, very global companies. that sort of screen out to the top of the index. it's the top 400 brand name, very global companies. >> you know, it strikes me that you might be able to find companies and put them in but what happens, do these companies get kicked out if they have a turnover in management? >> oh, sure. of course. that's one component to it. because there are -- i want to be very clear, there are a lot of good companies run by men, becky. as i said, its percent after senior management and boards are the primary targets. >> what is a percent after senior management that qualifies you as being high? >> for the fund on average, it's 31% women as a percent of the board, 24% senior management as compared to an 11% global average overall. triple and double the percent that are there. >> wow. >> if the research holds these are companies that should offer a fair return to investors. >> if you look at those companies, if you had invested in them over the last five years or so,