of the people on channel 10's video, at the end of the video who are trying to calm me down, becky, becky, becky because i went by becky in high school -- you don't understand. you don't understand. somebody was just murdered. you have to have respect for the family. no, you don't understand. i was just trying to do my job. >> stunned by the day's events, john and rebecca leave the scene. and though they have a few bumps and bruises, john is glad no one is seriously injured. >> i think we got out of a very difficult situation without getting ourselves hurt or anybody else hurt. >> after the incident, john says he receives an outpouring of support from the public. but he says there are also some critics. >> does it bother me that there are people who think that we shouldn't have been there and that we didn't handle ourselves well? yeah. it does bother me, but, you know, i've gone through this career of mine trying to do things with integrity. i think that's the reason i've been a success is because people see the way that i do my job every day. >> the sacramento county district attorney decides n

of the people on channel 10's video, at the end of the video who are trying to calm me down, becky, becky, becky by becky in high school -- you don't understand. you don't understand. somebody was just murdered. you have to have respect for the family. no, you don't understand. i was just trying to do my job. >> stunned by the day's events, john and rebecca leave the scene. and though they have a few bumps and bruises, john is glad no one is seriously injured. >> i think we got out of a very difficult situation without getting ourselves hurt or anybody else hurt. >> after the incident, john says he receives an outpouring of support from the public. but he says there are also some critics. >> does it bother me that there are people who think that we shouldn't have been there and that we didn't handle ourselves well? yeah. it does bother me, but, you know, i've gone through this career of mine trying to do things with integrity. i think that's the reason i've been a success is because people see the way that i do my job every day. >> the sacramento county district attorney decides not to file any

he lhc becky becky material . and there are no traffic. what's her cca the study. with non the us. the us. the us. i don't tell. since fish. it is hers. his church. the jury at his trial. the kids the eye the eye. in the day. i'm signing of a hike in with another edition of destination busy. they have refrigerators in japan that's what they invented something called cc. most people don't know about this in theory must be ncc. so i'm here it's the t rex to find out one evening when i order sushi. i'm here with brian as a sushi roll here at skippy right mind what kinds of sushi. are they did it look different. for defenders out there is not the woods is brought up that seem seaweed nori and out of their sauces that she knew it was pretty much just like his previous life in a number of ways. i then there's the year with his eyes as he slid over to us that was all wrong or is this. it's all probably gotten a lot of it yet there's also a lot of things lead me that i didn't hear voices within her heart was boiled with smoked salmon spawn. so let's make some sushi body is starting to get

but becky, i think -- becky's hire -- i think it raises the potential for a lot more engagement.d that is something that has been missing. the discussion in the house, and somebody who is on point. >> and they're trying to just ignore it and it will go away. and one of those little points in congress is that it literally could be the case that john boehner brought this senate bill to the floor tomorrow, as he has done with numerous pieces of legislation, i believe three at last count. he could do it tomorrow, and it could be signed the day after, and the spectre that hangs over millions of fellow americans, could be lifted. john boehner could do this. >> there is no question he has the authority, the potential, the power to bring this bill to the floor tomorrow. his caucus is not that excited about it. it is split. and i think there is a sincere effort by the speaker to try to figure out how he can make that happen and still maintain some support for the bill that would come up. i think that there is a sentiment among some of his caucus that the senate bill is now tantamount, you

becky, soon to be becky. >> we are going to live first 90 days of our post-honeymoon coyne. >> we will use bitcoin to barter. we will tell you what works, doesn't work and why. >> we are joined by austin ? >> i have been interested in bitcoin but i don't have a background in economics or criptograpy. it was in production and marketing. i wouldn't to become involved in some way. this seemed like the best way to not only learn about it but to contribute maybe some education of this burgeoning field of a really obscure, difficult-to-understand area. >> let's try to understand it. honeymoon. you married beckyget back and a day later, you embark on this journey where you were going to try to pay for everything with bit coyne. how do i get food? how do i get gas? >> it started right when we landed in the airport back if our honey moon. how t how to get home from the airport. we had to per sweet payment to accept bitcoin. when we started, there was only one establishment in the entire state of utah. there was one barbecue restaurant outside of provo. outside of that, we had to approach merchants and say action hi, have you heard of no. >> can we pay you with this? >> you managed to get groceries, a gas station about an hour away that you had to drive to in order to get gas which sort of somewhat defeats the purpose, i guess. so you manage to get those e sessions. now you decide what you are going to do is have this three-month trip around the world and do a road trip from provo a lot way to new york. how is that? >> we had to rely heavily on the bitcoin community. they are not merchants that

becky has a -- >> over here. >> okay. becky, are you still here, becky? the morning headlines, going to sound better from over there. >> they are, because i'm going to talk really loudly. >> and it says global headquarters. >> a lot of things happening here. let me talk about the numbers, they are starting to come in on the holiday retail. the national retail federation reports the shoppers spent less than they did a year earlier. that almost never happens, but the average shopper spent about $407 over the weekend. that is 3.9% less than the same weekend last year. but the industry group says there was one bright spot. online sales soared and that brings us to today. this is what many people call cyber monday. jon fortt's going to talk to us about expectations in a moment. in the meantime, take a look at the shares of dow chemical. those shares getting a boost after the company announced it plans to sell parts of the commodities chemical businesses. the assets represent up to $5 billion of total annual revenue. the ceo joining us in the last hour. >> as we

becky was like my mom or something. more like my mom than my daughter. my mom if my mom was responsible. becky was more responsible than my own mother. what am i going to say? what am i going to say about beckyt's weird to have a little girl that's so responsible. it's weird. jedd wasn't. he did the smart thing, bail, worry about yourself, take care of number one. becky didn't have that spirit. she didn't have a take care of numero uno mentality. she had a never leave a fallen comrade, even if it costs you your life, which it did. which it did. >> over in the women's wing of the jail, mary kay concepcion has just had her 26th birthday but it also marks the death of her 2-year-old son, fox. concepcion and her boyfriend are both awaiting trial for his murder. >> i'm writing a poem for my son that passed away. for his death anniversary. not too long ago you came to me, a miracle of many firsts, firsts smile, first set of teeth and first baby steps. but one night god took you away and left me your past. i will be thinking for a lifetime of your laughs. your lasts. the last time i held you and kissed your soft baby lips. sorry. last time you run to me and scream, mommy! last time you tugged on my

becky has been before. becky has been. andrew has been. joe now you're going. >> i'm worried about the stockholm syndrome. >> he's afraid he's going to turn into -- >> you're in switzerland, it's okay. >> ross, we will continue this conversation off air and we'll see you back here again tomorrow morning. in the meantime, with three weeks until christmas, this is historically the season for a bullish view on the markets. can we expect a strong santa claus rally this year? joining us now is lou brien, strategist at wdi trading group. chief johnson from asset management. lou, three days in a row of down days. it is making people start to wonder, have we seem is gains for a year? >> we have had a santa claus rally all this week. the market does have to trade even though the fed is there debting our fact. i do think the interesting factor is the fed and, you know, after we get the unemployment report on friday, depending on where that unemployment rate is, the fed may be able to say to themselves, if not publicly wrb that the cumulative improvement in the labor market since they began the qe back in september is 2012 is enough for that part of the equation. but they also have to figure is it going to continue? and that's something that they have to guess at. so will they be willing to guess and make a move in december if the unemployment rate falls to 7.1% or 7%? i think it went up last month. that was affected by the government shutdown. as opposed to the nonfarm payrolls which were not affected by the government shutdown. so, you know, i think that extra factor, will the fed begin to taper or not, is something that may weigh on the market for the next couple of weeks. and like i say, we've come pretty far already this year. can we go further if the fed does nothing? i guess. the market has always reacted very well up to the bitter end of the previous two qes. >> jim, that brings us to the point of how the market will react if the jobs number on friday is stronger than expected. normally you'd say, that's great news, the economy must be recovering, we want to say people getting back to work. but will there be a knee jerk reaction that says the fed may come in and start tapering in disease. what do you think? >> there has been typically a negative reaction to any of the strength in the economy and everyone worries, what is the fed going to do? but the market resumes its upward track. why is that? the crew is in third quarter earnings in the s&p. it's start to go move up. the world is getting stronger outside the s&p. the s&p isn't u.s.-sent rick any more. and the capital markets sell a lot of goods overseas. >> we've had a lot of people coming in and saying maybe u.s. stocks aren't the place to be. but you bring up a good point in that the s&p is selling to a lot of those overseas markets, anyway. >> exactly. and you can access that kind of resurgence outside the u.s. by owning a lot of big cap companies when created a pretty steep forward pe discount to the market as a whole. >> lou, let me ask you this. people have been wondering the fed could start tapering in december. but there's been this thought that i've been hearing recent think from that people that look, maybe yell.comes in and she doesn't want to make decision right away. she doesn't want to look like trichet being in a position of moving rates one way and having to reverse course in a very quick order. so could that mean that the fed could wait even longer because yellen is going to want to make sure that her first move is not a mistake that she has to reverse? >> i mean, i guess that's possible. that might be one of the advantages of doing some kind of a taper in the december meeting should the labor market look decent in the number that we get later this week. you know, i think that, you know, yellen believes that the forward guidance, the stuff that joe was talking about earlier, is the more effective way to go on, you know, for fed policy than is the qe. i think that they would say that the qe has been effective. i think the argument, though, is sort of trying to prove a negative, that we would have been worse off without qe. one of the examples is that the pce, that inflation measure will get friday along with the jobs data, we get that spending and income number. and we're looking for the headline pce to be 0.7%. the core to be about 11.1%. and that's with five years of qe behind it. so i guess the argument is, you know, that where would we be, you know, for the economy, for inflation if we were not doing qe. but i do think that she would rather to forward guidance, she thinks that the fed funds rate and pushing that, you know, first move or any moves out further is a better way to go as far as sending signals to the market than is qe. so i do think that, you know, if they have the opportunity, if they believe they have the opportunity, if they make the guess things are going to go all right, they can to things as early as december. >> jim, why do you think oil prices were up yesterday, they're up against this morning. >> if this is temporary and there's strength, the pmis out of asia and china are better. but we have iran and iraq coming on with more supplies. the u.s. is doing fine with energy. so the trajectory of energy is going to be flat and that's going to help the u.s. consumer. so i would look at that as a positive story. this is a temporary blip in oil right now. 97.is the blip, not the $92? >> that's right. >> jim, lou, thank you both for joining us this morning. we'll see you again soon. >> thank you. >>> coming up, why ubs is giving brokers higher expense accounts. >>> plus want kfc fights to regain son assumers in kline na. this is a weird one. if advertise upons have end pd hi honey, did you get the toaster cozy? yep. got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. so i knit until it was full. you'd be crazy not to. is that nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. . >> these are spartan conditions over there, aren't they? >> the last time i was there, i was in a -- >> the best place in davos. >> and the last time i was there, i was in a single bed. a double wouldn't have filt in the room. that was an upgrade because the last time i went i was in a murphy bed that pulled out of the wall. >> is this living? >> it's a beautiful, beautiful town. it really is. the alps are pristine, it's a gorgeous skiing town. i think they look at it as -- >> so that means you can't have a decent bed in your room? >> it's rugged. it's part of enjoying the absolute beauty of the place. >> welcome back to "squawk box." it's time for a check on the national weather forecast for the weather channel's alex walla wallace. try getting alex in one of those cots over there. is it too much to ask, alex? what is with europe? even a queen sized bed. something. >> it's a month and a half away and you're worried about that? >> yes, i am. sorry, alex. it's getting cold, right? >> it certainly is. it's going to remain cold for a lot of the nation over the next few days. the cold is helping produce snow through the northern plains as well as the upper midwest. we've seen around duluth already a foot of snow since the midnight hour. we've got more to do with today. there's the cold in place in the west and that is going to work towards the south as we head on through this mid and end of the week. now, as that cold air settles in, moisture will be working north. cold and moisture, that means wintry weather. we're going to see that coming back into the southern plains in texas. tomorrow there will be a stripe of sleep as well as the freezing rain. little rock, as well. could be quite dangerous here for travels as we work our way towards the end of the week with all this wintry weather coming back into the southern plains. so watching it very, very closely. back to you, becky. >> let me just say, alex, colorado is expected to get a bunch of snow, isn't it? >> yes, absolutely. looks like they're going to be generally now maybe about a foot, a foot and a half in some of the higher peaks in colorado. good for ski lovers. >> you talk about oh, it's beautiful in davos. two words, in colorado, ritz carlton. what's the difference? it's beautiful. it's beautiful outside. >> you are so spoiled. >> all right. i'm spoiled because i want a bed that i can't roll out of in the middle of the night. >> you'll be so tired you won't move. >> on to the carpetless floor. >> i don't think there was carpeting on the floor. >> come on! >> i'm just going to enjoy torturing you for the next month and a half. >> like a wood tile floor? >> and there's no running water, either. >> i believe that because there's no shower curtain. >> i'm going to harass you endlessly. you're so easy. >> i know. okay. >> right now, it's time for the executive edge. it is a daily segment focused on givi

for "good morning america," becky worley, abc news, san francisco. >> thank you, becky.king peanuts. my family hates me. but it's cool. megan said i go in the last hour before stores close up for the night. no one's out. two good ones right there. >> sounds like a relaxing option. even if it is 2:00 a.m. thank you, george. >>> now to a story that has really touched all of us. it's about a mother who beat the odds after dying while delivering her baby son. and miraculously, coming back to life. now she's telling her incredible story. how she instinctively knew something was wrong and how that sense may have saved her life. abc's paula faris has the story. >> reporter: this moment with her son, jacob, is one stephanie arnold thought she would never live to have. >> within a second of him being born, i coded. i seized and i coded. and i was clinically dead for 37 seconds. >> reporter: the complication began when she was diagnosed with placenta previa. a condition where the baby's placenta covers the cervix. >> the radiologist came in and said it's not a big deal. a lot of p

becky. she must be important. [ neil ] oh, she is. [ female announcer ] now, he designs for the star in your life. beckyll you marry me? yes! [ female announcer ] neil lane bridal. uniquely beautiful, hand-crafted rings from hollywood's master of vintage glamour. at kay jewelers -- the number one jewelry store in america. [ neil ] every woman should feel like a star. ♪ every kiss begins with kay >>> a bill congress did not pass may soon be hitting close to home as in your refrigerator. >> who looks out for us now? too and reporting from south africa derek mcginty found out why many south africans are now worried about their future. >> pretty nasty surprise in here. >> let me see. >> you're dropping them out on the ground there. that's not what you dropped. >> chinese food, pizza, big macs and one restaurant manager trying to destroy evidence of violations at his restaurant, tonight's restaurant alert. good evening. i'm jan jeffcoat. we'll hear from derek mcginty on assignment in south africa in a home, but first tonight signs lawmakers are trying to work together to avert another crisis or at least for

for "good morning america," becky worley, oakland, california. >> you can get more of becky's tricks do the cold and the snow. you know it's there. but maybe i should go to florida, they don't get that on christmas. they have. in 1989, look what it looks like in florida. that's right. a white christmas, right there before the holiday. tampa and daytona had it. melbourne and sarasota saw a mix of snow and sleet. that's far south. >> not today, everybody. >> not today. that's 1989. >> tha >> don't stand too close to the fireplace, ginger. make sure. stay away. >>> coming up, a look at the must-see movies at the box office right now. from big blockbusters. >>> and so many brave men and women fighting overseas. we were there as the cameras were rolling and they gear up for the first holiday. an intense ache all over. it was hard to do what mattered. my doctor diagnosed it as fibromyalgia... thought to be the result of overactive nerves that cause chronic, widespread pain. lyrica is believed to calm these nerves. i learned lyrica can significantly relieve fibromyalgia pain. for some, as e

becky, they've been so successful, becky, they let three of their coaches go this morning. >> i feel sorry -- they -- it's a long way to fall. a long way to fall. >> i'm excited. my whole family is. >> the pinstripe bowl against rutgers. >> my whole family has rutgers affiliations and notre dame royalties. they're here for the holidays. >> next year, right? or next year -- >> next year. >> next year. >> get ready. >> oh, boy. >> that's why i have to celebrate this and take it -- >> yeah. every game is going to be a bowl game. >> beckyg to make a lot of money. >> they are. $40 million. >> they are. >> big, big, big. >> i don't know if i want to be the players, though. you can keep telling them as they're -- >> if you're taking them off the field trying to blot them up from the field. >> it's going to help with who they can recruit, who they can bring in. maybe a couple of rough years of entry, it's going to be good. >> they'll get to play wisconsin i'm told. the deadline, which is going to be something to watch too. the deadline for the congressional budget panel is this week. no official agreement has been reached. although both sides continue to talk. senator ron johnson, member of the budget committee joining us now with his outlook. there will be like fireworks and celebrations if you guys just do anything. i know that probably doesn't make you happy because it doesn't address any of our long-term issues. but are we wrong to celebrate? >> oh, let's face it. the last thing anybody wants is a shutdown other than m

becky. she must be important. [ neil ] oh, she is. [ female announcer ] now, he designs for the star in your life. beckyniquely beautiful, hand-crafted rings from hollywood's master of vintage glamour. at kay jewelers -- the number one jewelry store in america. [ neil ] every woman should feel like a star. ♪ every kiss begins with kay step two, baconated cheese for awesome. step three, get ready to wow. step four... mmmmm. ♪ [ male announcer ] pillsbury crescents. make the holidays pop. he loves me. he loves me not. he loves me. he loves me not. ♪ he loves me! that's right. [ mom ] warm and flaky in 15, everyone loves pillsbury grands! [ girl ] make dinner pop! ♪ >> we are all excited for a big event thursday night. it is the live production of "the sound of music." a classic coming to tv like you've never seen it before. >> there you see it, carrie underwood is going to play maria. and aryan reinhardt plays the eldest of the von trapp family. >> you get a kiss in this. >> i do. >> don't spoil it. >> this is going to be a little different. you've actually both been in productions of the sound of music.

becky. she must be important. [ neil ] oh, she is. [ female announcer ] now, he designs for the star in your life. beckyne bridal. uniquely beautiful, hand-crafted rings from hollywood's master of vintage glamour. at kay jewelers -- the number one jewelry store in america. [ neil ] every woman should feel like a star. ♪ every kiss begins with kay ♪ a needle pulling thread ♪ la, a note to follow sew >>> we are all excited for a big event here on nbc on thursday night. it is the live production of "the sound of music," a classic coming to tv like you have never seen it before. >> there you see her, carrie underwood, music country superstar will play maria, and laura will play the baroness. you get a kiss in this, don't you? >> i do. i kiss in a roll down a hill. >> don't spoil it. i've never seen that one before. >> a spoiler. >> this is going to be a little different. you've both in productions of "the sound of music," but this is not for people familiar with maria. this is not the movie or even the stage production. what's different about it? >> it's a sort of hybrid. it is actually the stage production

becky getting -- i never thought i was that cool. becky getting ready for rutgers in the pinstripe bowl. this all happened this week. and joe's tmi on his vitamin regiment. that i remember very well. and steve liesman talking as nostridamus. >> walking around, it was vitamins. it's a vitamin regiment that you have. me, i am a regiment. >> we both are on the same page with the vitamins, right? >> i'm a vitamin guy. >> you do the centrum silver. >> i do. >> fiber con is much more important. but you don't have an aarp card. >> not yet. but i'm working on it. >> they keep sending it to me, but i won't join. i keep resisting. you should be 65 to get an aarp card. >> talking about regiments, we're going to china right now. getting tough on bitcoin trading and that's not discouraging some people from getting in on the action. eunice yoon joins us right now from bay zinger. good evening. >> hey, guys. trading in bitcoins has been wildly popular here, but the government just this week decided to stop all third-party payment systems dealing in a virtual currency. betting on bitcoins has paid off for li lynn. li opened an exchange with a virtual currency in beijing just months ago. he's minted souvenir bitcoins out of silver for his clients, believing bitcoins are just as necessary as precious metal. he says it's virtual gold. chinese investors are driving the prices of bitcoin worldwide. the currency is a popular way to invest here as people have few investment options and see bitcoin as a coveted commodity. traders buy and sell bitcoins at this coffee shop. they hold seminars here and swap information about the virtual currency. chandler loe prefers the currency because it helps him transfer money worldwide fast, a luxury chinese have never had before due to the country's currency controls. bitcoin is actually a financial network, he says. if you're in the u.s. and i'm in china, if i ask you to send me two bitcoins, you can transfer them right away. the authorities are weary of anything that could disrupt china's tightly controlled financial system and are unnerving bitcoin believers by cracking down on its trade here, most recently stopping schaks from yuan deposit, a key to driving prices higher. li isn't worried. he says his firm's trading volume is the equivalent of $50 million a day. bitcoin is more trustworthy because its credit is based in science, he says, not in an individual or a state. perhaps not exactly what the government would like to hear. >>> and everyone in the bitcoin bit here in china is waiting for clarity from the government because they're warning if all these recent moves are a way for the government to try to dampen the euphoria or is it actually a warning that they're going to shut the currency down here? guys. >> eunice, thank you for that report. the bitcoin story is not going to stop for quite a while. >> not -- well, we don't know, but probably not. is the jeanie out of the bottle? >> toothpaste is out of the tube. >> the horse has left the barn. >> actually, yes, but it may come back to the barn when all is said and done. >> fallen off the wall, humpty dumpty, can't put him back together. >> the potato head you can put back together. we've been doing that a lot at my house. >> you and pilar? >> pretty much. >> toy story is pretty cool because he can have an ear somewhere, have an eye somewhere and check under the door and see things. he could do a lot. >>> coming up, the clock is ticking on the holiday shopping season. we are under a week now until christmas. and you may be forced to hit the -- to hit your -- you may be forced -- >> to leave your home. >> you may be forced to hit leave your home. >> hmmm. >> to actually go shopping. >> you might. >> to hit the mall and leave your home with your vitamin regiment. we're going to check out last-minimal traffic next. >>> and the backen discovery has been a major boom to the nation's energy sector, but is there a glut building in our own supply inspect billionaire oil man harold hamm will give us the real deal on production coming up at 8:00 a.m. eastern time. as we head to break, check out the price of crude. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ that's how ameriprise puts more within reach. so when my moderate to severe chronic plaque psoriasis them. was also on display, i'd had it. i finally had a serious talk with my dermatologist. this time, he prescribed humira-adalimumab. humira helps to clear the surface of my skin by actually working inside my body. in clinical trials, most adults with moderate to severe plaque psoriasis saw 75% skin clearance. and the majority of people were clear or almost clear in just 4 months. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer have happened. blood, liver and nervous system problems, serious allergic reactions, and new or worsening heart failure have occurred. before starting humira, your doctor should test you for tb. ask your doctor if you live in or have been to a region where certain fungal infections are common. tell your doctor if you have had tb, hepatitis b, are prone to infections, or have symptoms such as fever, fatigue, cough, or sores. you should not start humira if you have any kind of infection. make the most of every moment. ask your dermatologist about humira, today. clearer skin is possible. >> that's pretty good. >> yeah, i love that. >> it's good. it sounds like the beginning of one of the annual christmas shows. i don't know which one but, cartoon or something. we are entering the last shopping weekend before christmas. with the tale of two consumers and more shoppers using the internet this holiday season, how are the malls fairing? nate forbes is managing partner of the forbes company? areas where no luxury brands are offered. good morning, nate, and i figure malls are being affected by online but also by weather which is a bigger factor as far as a negative? >> i can't hear. >> i can't hear, can you? >> different people. >> oh, there you go. start over. >> am i back? start over, nate. >> okay. yeah. i think the online's a great -- online is a great supplement to the luxury mall business and mall businesses in general. and it's really a flight to quality. i think the online business supplements what it can offer the online consumers. >> it's a good experience, too, at times. i try to think about my childhood and just growing. i don't want to be all online. i remember the decoration, i remember what happens at the mall. i think it's kind of like a lot of things where the demise is greatly exaggerated. do you there'll be malls? >> i think it's a great way, great part of our social fabric. i think there'll be a shuttering of some malls on the lower end. i think the better position malls that have a pointed difference in the merchandising and store offerings will be the ones that succeed and are here long-term. >> if you wanted to write a survival guide for mall operators, there are some things you need to change, probably, and ways of ensuring your that you're a viable place to go. what malls -- there's a lot in my hometown that are ghost towns. what differentiates between a really successful mall and generating traffic in one where no one goes anymore? >> i think you really need to have a point of difference. a lot of our retail properties, 40% of our inline retailers are the only stores in that market. if you're a brand shopper, a designer shopper, you have to drive and make the decision to come to that asset and make the decision to drive there, you're going to stay longer and spend longer. really create a point of difference through your best of class merchandising strategy is a key element to being a successful operator of regional malls. >> you probably hope you don't have jc penney as your anchor tenant, right? >> yeah. in our world, we try to stay with the top flight brands, neiman marcus, bloomingdales, macy's. >> need a big food court? >> not necessarily. food courts are a part of the business depending on which markets you're trying to serve. i think great sit-down restaurants with the complement of food course uses and other unique food offerings that really speak to different groups is very important to have as part of the offering of your shopping development. >> all right. just -- is there -- between now and the next five years, do you see more malls in the country? or will we will down 10%, 15%? >> i would say we'll be closer to being down 10% to 15% than being on the upswing. some of the older shopping centers, the ones that haven't kept current with the times don't have current stores that are speaking to the shopping public today are the ones really going to suffer. >> all right. thank you. merry christmas, i hope you have a great season, happy new year, happy holiday. make sure i cover all my bases. thanks, see ya. >> thank you. >> when we come back, is the talk about taper starting to taper off? we'll get the read of the markets, right around the corner. then it's health care. oil and energy with herald hamm and the world of real estate with remax ceo margaret kelly. 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becky worley is here and lets us know if we're sacrificing luxury for savings. good morning, becky. >> reporter: it's so soft. it makes such a nice gift. but if you've been shopping this holiday season, you've noticed it's gotten a lot lower in price. is the budget cashmere that different from the expensive cashmere? cashmere. so luxurious. so soft. but so expensive. at least it used to always be expensive. >> since 2007, the prices of cashmere have plummeted dramatically. you used to be only find cashmere for $300 or $400. now, you can get it for as low as $50. >> reporter: what gives? why has the cashmere market gone soft? to unravel this mystery, we first need to know -- what is cashmere? >> cashmere is from a very specific animal in a very specific part of an animal. it's from the underbelly of goats. >> reporter: up until about seven years ago, only the thinnest, longest belly hair from up near the throat of the goats was exported. but when china relaxed exports, they stopped splitting hairs about the type of cashmere being exported. now, some of the cashmere products can be made from the throat, the belly, and from the nether regions of these special goats. but does the budget cashmere have the same luxury qualities? to find out, i need to go shopping. in the store, you can't tell what part of the goat the sweaters are made from. but you do know the price. expensive. from saks. ooh-la-la. $258. marked down to $154. next, mid-range. 100 bucks at ann taylor. and rounding it out with a budget option, uni qlo. wow. 59 bucks. what do the experts think in should i expect to tell? >> i think less expensive cashmere has propensity to pill. you can see the weave on this one is a tight weave. i would say it's a little plusher. >> reporter: is cashmere finally a budget buy that feels like a luxury? well, the only way to really find out is -- it's a feel test. we have a little game show. let's see. lara, you have $101. >> should we start with the medium? >> let's do the expensive one. robin, you're the expensive one. $154. >> don't -- >> this is the cheaper one. >> okay. all right. robin was right. that one is $154. but the $59 one is right here. >> really? >> and -- >> yeah. >> and the mid-range, you can't tell. >> we all feel this one. >> oh, yeah. >> that's like butter. >> just when you thought you could afford cashmere -- >> it's $364, marked down from $550. >> wow. >> if it's mid-range, it's not a big deal. but when you get into the -- then. >> i love when you do that. we asked our viewers to weigh in, as well, about the debate with this. we heard from a few. caroline says, if it looks it, i'll wear it. i'll even wear a noncashmere looking sweater. #keepmewarm. and then, rich says, you always get what you pay for. >> we couldn't tell between the middle and the bottom. maybe you know the top-top. but between the middle -- if you can't tell the difference, why are you paying more? >> you get what you pay for. what we're seeing, there are levels of cashmere. there's a middle ground now. >> i think if you get this result. is that felt? it is now. >> so good. >> i think -- becky quickly, sammy, you know. it was -- it landed heavily yesterday. a shock for many. but we want you to know, we go through happy tears, as we send you off. we wish you the very best. you are leaving to be the managing editor of the weather channel. and that's a remarkable thing. and we're going to have, again, everybody, a tribute tomorrow. it will be a day of sam, as every day. sam, i know in talking to you about this for a very long time, this is a dream come true and one that you couldn't pass up. >> when i walk these halls, i grew up here. i know every face in the hall. and in the building. and this will always be my home. i've had the extreme joy that i don't think very many people will ever know of working with your friends and your family. and what happens on this set is incredibly real and natural every morning. and as george pointed out, even my grumpy mornings. >> puts a smiley face on. >> it's what happens here before the show that makes the show. the weather channel is like

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becky, thank you for joining us today. >> all the coverage comes back that i'm reading was becky's interview at that conference. >> let's get to bob pisani and see what's moving on the floor. >> reporter: all happy tuesday. we see industrials down, financial staples. home building on the down side. good heavens, everybody was sort of unhappy, they weren't happy that the s&p 500 didn't hit an intra day high. everybody thought the tape was boring. when we were at 1,800, folks, people were saying we can't get over 1,800. now we're at 1808, 1807 and everybody says this tape is boring. i'll take boring every day. 1 or 2 point gains every day, i'll take that anymore time. a lot of people are now talking about whether we're going to do something next year. i think the key is we'll have a -- if janet yellen can -- the market can go higher. toll brothers had a very interesting report. earnings and revenues above expectations but orders only up 6%. they apologized said and that's because we raised prices and that contributed to a leveling of demand. that's their phrase, they used the phrase "leveling of demand." they noted in the last five weeks contracts had been flat year over year. so raising prices is putting pressure on the sales overall for the company. the homebuilding surge we saw in the middle of the year has slowed down. hilton people asked me what's going to go on with hilton. 112 million shares, this is a huge company, hi to check this twice, 4,000 hotels, 6,072 rooms the company has got. this is very typical, float of 13%, huge stock overhang will remain. it very interesting, earnings are so concentrated. about eight, nine hotels contribute 50% of the ebidta of the country. a small group contribute a very big part of the ebidta. if anything happens to those hotels, there's a little bit of earnings risk floating around overall. the dow jones index is up this year outperforming the s&p. i asked people down here what they wanted to see next. how about a dividend. that's the number one issue for the company at this point. see if they can start paying some kind of dividend. >> that is an expectation of those buying the stock here, given there is no longer government ownership of any kind. >> let head over to the bond pits, rick santelli at cmi in chicago. >> many of the big traders were paying attention to the big stock indexes under a bit of pressure in you're. as i look at what we're trading, we're down a little bit in the dow. that may be a partial region, knee-jerk reaction on interest rates last friday on the jobs report. it giving up ground. maybe more importantly open the chart up to the beginning of last month, can you clearly see the area to 282, 2 to pay attention to continues to be on the left side of that chart, that was basically 2 3/4. flattening of the yeefrld curve? you could argue it just profit taking on the steepeners, maybe more. the 2s, the 10s, they're all showing it. that chart is 5s to 10s. the play continues to be foreign exchange. let keep it simple. today as i look up on the board, no matter what futures contract you're looking at, the yen, the mexican pace, the euro, they're all doing better against the greenback. look at a two-day chart. we're under 80. let me remind you, it been a good year for the dollar. i read three articles today talking about the strength. we are less than a quarter of a cent away from going down on the year. carl, back to you. >> thank you very much, rick santelli. kelly evans at post nine. we can use her to explain what's going on with the dollar index and, most importantly -- >> right now the dollar index is lagging. what's going on? is it all relative? yes. there's to some, te extent comm out of europe how the ecb may not be super aggressive to do anything on the front. the dollar index gives up another 0.2%, which is just huge. the question is how lasting this weakness is going to be because even if it's relative u.s. versus europe, it has real implications if you look at what's happening, for example, with the price of oil. to the extent the price of crude might have an upward bias in the weeks ahead in time for the holiday season, kind of another headache potentially for retailers and consumers. >> is this not just the most counter intuitive situation? sends the europe stock market down as it should. >> the dax is weakening and the s&p follows the dax. >> the market can be stupid. there's no reason why it can't. it missing the point. the weak dollar is fabulous for exporters. >> oh, fabulous for exporters. the question is is it enough of a been fit for exporters to offset the numbers at the pump. >> i think it is. i think a lot of our companies are thinking about what's forecast for 2014. if you go back, all the reports that we had of the international companies, whether it be coca-cola, ingersoll rand, they all say, okay, we hit a 5-cent hit tore currency when you get the reports, they don't have to send you the number. >> and by the way, when on friday when you had the -- if you're sitting in europe, unless you're germany, and the euro is at 1.37? the market may be trying to force the ecb's hand here to be much more reactive, especially at a time when the fed is tapering. >> google, that's a european stock and that's a huge help. >> some have said online that your notion about taper/no taper, it about earnings, is exactly the kind of thing the fed is listening for. >> maybe what the dollar is also trying to tell us is things aren't quite as great as it seemed when we added 200,000 jobs on friday. >> thank you. yes! that's what the 10-year is saying. >> 2.8%. it's going all the way back down. >> exactly. these are the things that party. >> maybe it's just mrs. wantabe bailing out uncle sam. >> that's a good one. >> you always come up with a good one. >> when we come back, a live interview with former fdic chair sheila bair and what she has to say about the banks. 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>> a little less than business. one of the things we're looking into is the smokeless tobacco, njoy, i want to know more about it. and ski apparel, morris goldfarb is blowing out the numbers, i think sports apparel, giii, undera underarmour, nike. this is not rg3 where the controversy has gotten so bad. >> of course you must be happy with the way the bears acquitted themselves in the cold last night. philly leads -- >> we have to come to philadelphia to play chicago and then we play dallas. the dallas game is a silver linings play book moment. go watch the movie. it will be repeated in real life. i don't get the girl. just a little heads up. i've seen the movie. >> simon is here with what's coming up at 10:00. >> good morning, carl. we'll look at what gm will look like under its new ceo mary bar barra. the volcker rule is through. we'll have the latest. and dine-equity ceo julia stewart will join us on "squawk on the street." tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. where does the united states get most of its energy? 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(vo) meee-ow, business pro. meee-ow. go national. go like a pro. >>> welcome back to "squawk on the street." we are awaiting job openings and labor turnover and wholesale inventories. don't see them on the screen yet. an important safety tip with janet yellen coming on board potentially to be the new fed chairman, this is one of her better, if not favorite, employment numbers to pay attention to. we are expecting a number around 3.89 million. we haven't been at 4 million job openings since march of 2008. so a long stretch. but they nonetheless are snugging up to thathighest they. i do apologize the number doesn't seem to be cooperating with us at 10:00 eastern. so we're going to continue to wait, if control wants to go back to the boys at the desk, can you come back when we see the number. as i said, wholesale inventories -- here we go, 3.925 million, a bit better than expected. last month 3.91 million was downgraded just a bit to 3.88. and inventories, four times what we were looking for and last month slightly move up. let's go to kayla tausche. >> reporter: we're here at the goldman sachs financial services conference. they haven't seen the volcker rule yet so we haven't had any actionable comments on that but we are getting data from bank of america on remaining legal reserves they have outstanding. in 2011 the company disclosed it had $20 billion in its reserves for reps and warranties. currently it's $14.1 billion. can't also disclosing it could see losses up to $9.1 billion, above that figure, about $4 billion above that just on the reps and warranties. we're not getting numbers for litigation reserves, that's what jpmorgan gave us in total last quarter to basically cover the field and say this is all the money we have in our treasure chest to pay for all of the outstanding legal issues that might come toward us. bank of america has put similar language in some of its filings about federal investigations and potential lawsuits from the government's mortgage fraud working group. there is a fear from investors they could see similar action like jpmorgan. we're not getting that litigation reserve number, carl, but we are getting $14.1 billion reserves for reps and warranties which will cover gses like fannie, freddie and other issues. back to you. >> breaking news, any moment regulators from the fdic and federal reserve are supposed to vote to approve the volcker rule. eamon javers is live at the white house with more on that. this is two of five agencies, correct? >> reporter: that's right, simon. there are five involved all together. banks have been waiting literally years to find out what's actually in the final draft of the volcker rule, which bans proprietary trading by banks. more than 800 pages in just the preamble to this 70-page rule just for today. first is underwriting. positions must not exceed what's called reasonably expected demands of customers here. there's an exception for prop trading for market making. trading desk inventory may not exceed reasonably expected demands of customers. also an exemption for risk mitigated hedging. banks can hedge but will be required to document the hedging rationale and explain to regulators what they're hedging and why they're hedging it. trading in government debt will be allowed in the u.s. a u.s. government, state and muni debt all allowed under the rule and also allowed is some prop trading in foreign sovereigns as well under certain conditions and certain trading activities of foreign banking entities are an exemption here, generally allowed to trade as long as risks are held outside the u.s. ceo attestations, ceos will be required to sign an attestation saying their bank has a robust compliance program. and also the conformance period here has been extended to july 21st, 2015, a variety of deadlines here for banks based on their size to roll this thing out. guys, a lot of subjectivity here for regulators, a lot of things that need to be defined and they're going to have to work this out as they go along in terms of regulating what it is the banks are doing but those are the highlights. >> eamon javers, thank you so much for that. i want to stay with the volcker rule and look at some of the winners and losers. kate kelly joins us. >> reporter: this is a far less draconian final rule than many feared on wall street. here's why i consider it to be a win overall for banks. there are many loopholes to the proprietary trading curves that eamon ran through. there's also not a hard and fast time frame for length of time a bank can hold a position. there will be time limits determined but that will be in consultation with the regulators. there are, as noted, exception for trading of government bonds, commodities and certain other this evenin things. those are wins for banks. the teeth of the rule will be in the reporting requirement, which are extensive. there's a lot that banks need to think about and share with regulators. every trading desk has to have a mission, something they're supposed to do and result in positions they can take, risks they can take, strategies, particular clients, et cetera, the ceo certification that they're in compliance with the rules. they're going to have to put a great deal of thought into why they're trading, what they're trading and defend it in many cases to these regulators. that alone will be costly, time consuming, et cetera, which may explain why it's a two-year phase-in with the key date being july of 2015. >> it's still hundreds of pages to work our way through. let bring in jeffrey hart, principal with sandler o'neill and anton schultz, president of mendon capital. gentlemen, welcome to the program. >> good morning. >> anton, let me kick off with you. do you agree with kate kelly this is less draconian than perhaps the banks had feared? anton? do you think this is less draconian than the banks had feared? >> yes. i think the trading of foreign debt is certainly going to alout banks -- allow the banks to continue it on balance sheets. i think that's very important, i think the timeline is important, too. i think the banks will be generally pleased with how this has all come out from the timeline and allowing to continue to make markets in a lot of things. there will be devils in the details four sure. >> jeffrey, do you agree with that? >> yeah, i think it's in line with expectations. there were fears it would be worse. i think the volcker rule is misguided. it's targeting prop trading when what caused the financial crisis was really residential mortgage lending, not prop trading. i don't really agree with the rule but it set up as manageable as we could have expected, looking back at the draft we got a couple years ago. >> where does it leave us with investors? i know fdr put out a note they would favor morgan stanley over goldman sachs but they remain neutral on others on the basis of what we have so far. >> at the end of the day morgan stanley has a larger preponderance of retail, a lot of their revenue comes from at that business now. a little less exposed. at the end of the day, this is actually good news for the entire industry and it's less draconian and it gives them time. i think it's a win and i totally agree with jeff that none of these things had anything to do with the financial crisis. i think mortgage was a much bigger issue and, you know, i think this is attaching a name to something that had nothing to do with the crisis. >> jeff, people are still talking about would-be legal challenges to the rule. some hold out hope that house republicans draw up limits. is that a realistic dream? >> legal challenges will continue. this is far from done. admittedly it's a thousand page document. from what i've seen so far, i think this is kind of in line with expectations. i think the banks can handle this. some of the less liquid, distressed debt. at the look like they're still going to be okay here. i mean, with the thought in mind that i don't think the industry needed this, i'd rather not see it, i think the way it's played out is manageable enough. the real issue now i think will be kind of on the compliance and monitoring front. the amount of extra reporting the banks have to do will be the next hurdle to face. >> we know it's already extremely burdensome and the red tape gets greater. just on the court challenge specifically, jeff, i see that barney frank is quoted in today's "financial times," "it would appear part of the juggle until the last minute may be in response to the filibuster rule last month and belief basically that obama could get more of his judges, those that would be more left leaning, perhaps more circumspect of the banks and that may be critical here. would you agree with that? >> ultimately the challenges are going to -- probably i guess in general to the extent that there may be courts leaning to the left, it would imply stricter volcker rules. even looking at the regulators involved, the ftc and ctfc understand the liquidity of markets and they're pushing for rules here. i don't think the banks are going to be horribly disappointed with what they see here. >> jeffrey hart and anton schutz. >> thank you. >> is it type for a deeper? steve liesman says a december taper is increasingly more likely than ever before. it's been said liesman put his cards on the table today. >> you look at the number and you make a call. a taper by the fed at its next meeting looks more likely than not. the economic data, and the mashmas market as reaction and the fed's reaction to it. the fed offered three tests and now they're near to being met. confidence in the economic outlook. three months average job growth. that's improved quite a bit. job growth and the unemployment rate is down 0.2% from the september meeting. there's a budget deal in the works and in addition, interest rates. the june 15th fed funds is down from 90 basis points in september. you could read that as almost full four quarter rate hikes to unchanged 27 basis points on jobs friday with that stronger-than-expected numbers. it tells the fed they've been successful so far convincing the market will remain lower for longer and tapering is not tightening. they can reduce the amount of stimulus in the economy but not say anything about raising rates. predicting the fed has been tough. they could wait another month since they don't think it matters a whole lot if they start now or next month in the grand scheme of things. but comments by centrists point to an early move. james bullard talked about a small move and dennis lockhart. ben bernanke began with dovish talk about how the committee can react once it hits its 6.5% rate, unemployment rate, for raising rates. the fed can pivot from quantitative guidance to forward guidance on rate. >> still we managed to close at a record high on the s&p. >> the 10-year is actually down a little bit. it was 2.81 before i came on and that kind of reaction on the long end i think is going to be encouraging to the federal reserve. >> we will see. thank you very much. steve liesman within al s ii ii analysis on the fed. >> and mary barra the new ceo of general motors. we'll talk to bob lutz when we come back. 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>> she's got over 30 years experience, she's an excellent engineer, then she had some staff jobs and her last job was my old job, global product development and that raised a lot of eyebrows. a lot of people were wondering can she do this, does she have the right focus on excellence? i'll tell you, she did a brilliant job. if you look at the success of new gm products and all of the awards that the recent gm products are getting, she's obviously done a fantastic job there, too. so she's well rounded. >> bob, how do you stop the executives who didn't get the job from leaving? and how important would those departures be. >> i think they did a clever thing, dan eamon was named chief financial officer. he's a good guy and also very enthusiastic about product. and mark rice i think is probably mildly disappointed, but he replaced mary and got my old job, which is kind of the job he always wanted. he's a huge automotive enthusiast and i think -- i honestly think he'll be happy for a while. and, you know, mary -- she's polite, she's smooth, she's pleasant to talk to but she's very tough. she knows what she wants and she'll go after it relentlessly but she doesn't ruffle feathers. i think she'll be an excellent team captain without alienating anybody. >> hey, bob, let's talk about the company broadly now that the government has sold its shares. they're going to be free of some of these rules, these shackles we've talked about for so many years. is that going to change the culture? is it going to change execution? >> well, yes and no. the gm culture is the gm culture. it was never as bad as people said, and despite the fact that gm is so successful now, it's still basically the same culture, which is a bunch of talented people doing an excellent job. and sometimes they're led better and sometimes they're led less well. i think all in all they're going to be led better. the one thing that's been missing these past few years is the ability to compensate people properly. and when you look at the derisery compensation that dan akerson was getting, it amazing we kept some of these people. i'm making this up but i think his comp was something like 1.5 million and you look at alan mull l mulally, who is north of 20 million, it's just ridiculous. now the company will be able to attract and retain better talent, which long term is upon for the company. >> huge news today, bob. we're glad you were able to make it to the phone. we'll see you soon. bob lutz talking about mary barra. >> winter as arrived on the east coast. a winter storm warning for most of the eastern seaboard. the weather channel's mike seidel is live in virginia with more on that for us. mike, welcome to the program. >> thank you, simon, for having me on. good morning from leesburg, 45 minutes north and west of virginia. we've had two to three inches here. the top number, only about four inches. we knew it wasn't a huge storm but a quick hitter. in fact, we're almost done. rolled in here around 6:00 a.m. roadways, remember, a lot of these roads were salted on sunday with the snow and ice. they've resalted this morning and we've had traffic and daylight. all the schools are closed, the federal government is closed. the airport, another horrible day. newark airport, five and a half hours, laguardia, already five. 240 cancelled in newark. in d.c. a little better, about 100 outbound flights in reagan and dulles. the airlines know everything is going to wind down so everybody is deicing. the key here is temperatures plummet tonight. we're heading out at about 15. whatever doesn't evaporate or dry off or get shoveled is going to be hard as a rock. and another storm thursday in the air. the weekend storm right now we're thinking at the weather channel rain in philadelphia, new york city down to d.c. but you get just west and north of the cities toward poughkeepsie, albany, worcester, new england, this could be a very big storm. we'll keep you updated, it's a few days away. the snowfall rate is not snowing hard enough for jim cramer to tweet pictures. that's how i'll describe it. >> that is an important line to cross, as we saw last sunday, mike. >> thanks a lot. the next time you go out to eat, you might be able to order an app with an app. are tablets good for business? 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julia joins today. good to have you back. we had you on not too long ago. >> that's right. >> you must have some research that told you this was something customers would respond to. >> absolutely. customers have been telling us for some time, even myself i know i don't like to way for the check. so that was the first sort of pain point we had heard about and we had this unique opportunity with the technology to make a real difference. >> good morning, julia. can you actually pay on the tablet that's on the table? is that possible? and if it is, how does the staff know somebody has paid as they're leaving the restaurant? that was the difficulty with open table. >> right. i have it here. this is the actual technology, right. and so you literally can pay on screen and you can order, you can -- it's a whole way to create sort of interactive communication between us and the guests on a regular basis, but absolutely. >> someone might ask why not an ipad. i'm sure you had to give due diligence to both. what went into that decision? >> there was a lot of technology discussion about what was the absolute best way to interact. and we felt that this technology, which is called ela carte presto tablet gave us the best opportunity tou interact with the customer and have it on every table. we'll have it on every applebee's bar and table across america. >> is this going to increase labor costs? >> no, this isn't a labor play. obviously it's an option. people don't have to use it. it's not about saving labor. this is really about creating an opportunity to talk to our guest, have an interactive conversation with our guest and give you aour guests a lot more opportunities to literally either play games, order, communicate. we have all kinds of opportunity here. >> julia, you are right on the cutting edge, they want to amazonize the experience, that you can check in with a hotel before you arrive at the location. against that desire, you'll be aware a that the studies are clear, that the more time a customer gets a smile from a member of staff, the higher the satisfaction rate will be, the more likely they are to repeat without you having to advertise to get them back in and your margins will be higher. you have two competing forces. talk about the judgment you make in light of those. >> right. i never viewed this as a replacement to the food server. that interaction, that smile that, talking about what's going on in the neighborhood is critically important and frankly is at the core of who we're at applebees. this gives us an opportunity to get at the pinch points and make a difference but have a deeper, richer interaction going on. it creates a one-on-one experience that we can create a whole other way of talking to our guests that we don't have today. >> i don't know if you've heard the news, gm has announced its first female ceo, mary barra. bob lutz said it's a big shattering of the glass ceiling. i assume you have to agree. >> absolutely. i just saw the interview. i couldn't agree more. >> i tell my kids who are 4 years old, no tablets at the table. people wonder, are these going to be clean, sanitary? have you put these concerns on the table? >> we tested this for a lengthy period of time, not only in our r & d restaurants in kansas city but several other places across the country and all the protocol to make sure that they were clean and sanitized and that they worked and the guests saw it as a positive. guest loved it and not everybody use it is so that's okay as well. but it creates a unique opportunity and we believe a competitive advantage. >> 100,000 tablets, man. thanks for coming on. we'll see you soon. >> they're saying -- absolutely. thank you so much. >> julia stewart, ceo of dine equities. speaking of movinmoving, you're headed up to the conference today. >> yes. time warren, their stock is up today. going to be purely networks and a cable studio in the not too far future. ceo of cbs, enormous capital, things to get updated there including the ipo and international. looking forward to both of those. >> snowing out there. better use the subway. >> i already do. >> the founder of lululemon is stepping down after he got in hot water over the body types of potential customers. is this now good news for the future of lululemon and its shareholders? we've got the answer next. ♪ american woman stay away from me ♪ business inside and out t. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. to help secure retirements and protect financial futures. to help communities recover and rebuild. for companies going from garage to global. on the ground, in the air, even into space. we repaid every dollar america lent us. and gave america back a profit. we're here to keep our promises. to help you realize a better tomorrow. from the families of aig, happy holidays. >>> the new volcker rule is currently being voted on in washington. not as tough as some of the banks had expected, according it our own kate kelly, who joins us live with more. >> reporter: i think in terms of the hardline rules some of the banks were expecting, you don't see the sort of bright lines and tougher curbs that might have been expected there. however, i think the teeth of this rule may be in some of the new reporting requirements, which are quite detailed and are going to require banks to think creatively about what they do and how. some of the reports they'll have to think about is value-at-risk, something they'll have to get into more detail on. profit and loss ek peacekeepxpe what do you expect it to do in the market, if that happens, what about that? and frequency of transactions, inventory aging lengths of time, that's been a key thing the v t street was focused and finally the of time that positions are held and the ratio of client transactions to internal transactions. if you have any doubt whether it's having a tougher or looser effects on stocks, goldman sachs is seeing a nice little upturn today. some relief this those stocks. you had analysts sounding those tunes earlier in the broadcast. i do think there's a sigh of relief given wall street's reaction today. >> we will see, kate. thanks a lot. kate kelly in washington. it is slowing in washington but believe it or not, congress is hard at work. lawmakers moving closer to a deal that would avoid a shutdown, undo some of the sequester cuts that are set to begin with nut year. john harwood joins us. >> reporter: the key word is moving closer slowly. this is a situation that's been hung up over the last few days, they're on the verge of a deal, have the outlines, looking at $90 billion over two years, some deficit reduction, maybe $20 billion of deficit reduction, but we're not at the goal line yet. members have been meeting, their staff has been meeting. a lot of members have gone to south africa for the mandela funeral as president obama and president bush did. you have the snow day in washington where because of that relatively modest snowstorm by the standards of many people in the midwest and other parts that get a lot of snow, it nevertheless shut down the federal government. talks are going on. we're in a last-minute posturing phase where republicans are saying you've got to have this amount of deficit reduction in order for us to agree to the deal and democrats are saying, including people like steny hoyer saying you can't take as much out of retirement as you're going to take. i do think it will get done. they had originally planned to announce the deal today and vote on it on thursday. i think that time frame could slip a little bit, at least on the announcement part. we'll see whether they can get it done by the end of the week and go home and tell their constituents they actually did something positive. >> john, keep us posted. thanks very much. >> shares of liululemon trading higher after changes in the company. perhaps more importantly for some, the billionaire founder chip wilson will step down as nonexecutive chairman. how will it impact your future as a shareholder? sam has an underperform rating. thank you for joining us. >> thank you for having me. >> why is it that the founder quit? is it because of his comments about women's bodies? >> i think his creative juices are probably needed but need to be controlled. i think when christine had backed off of some of her duties, i guess, she wasn't there sort of to monitor that. and i think the board felt and he probably did after the backlash that probably a little less exposed position might be a better thing for everybody. i do think that he has a lot of creative thoughts that got the company where it is. if those can be harnessed correctly, it might be a good thing having him around still. >> stan, strategically what could change? store opening strategy? seasonal promotion strategy? will the character of how they sell their goods change as a result of the new ceo? >> we don't know. that won't happen until he starts digging himself in on january 1st. he doesn't have a retail background nor a public company background. i think everything is in the air. my impression listening to the conference call is he is prepared to invest heavily in infrastructure from an operational perspective, logistics so they don't have the kind of issues they had in the past. but the other issues about timing of store openings and stuff, i think we shall see there. >> you know, sam, i'm looking at we're trading at $70, your call for $56 and an underperform rating is very stark. where are you on that now? >> i'm right where i was. look, i man, the stock is trading at about 29 times the street's estimates white ririgh. my estimates are at 24 times. 24 times is not a bad company. but i think with the unknowns here and the risks involved, i just don't think it's worth that kind of a premium multiple at this time. i hope i prove to be right and wrong. i hope that he gets it together and i hope the company can continue its growth prospect. but you have to remember that christine day had a great retail sensibility, and i think did a fabulous job doing that but didn't have the background from an operational perspective. in the case of laurent, the new ceo, he has a great operational background but may not have the retail perspective. so i really think the jury's still out. and i think this kind of multiple is just unwarranted. >> good to see you, sam. thank you for your time. sam poser joining us. >> we've been talking about the volcker rule all morning long. the board of directors of the fdic has approved the final volcker rule the fed and cftc have to vote, the public meeting closed because of the snow in washington but we think they can still vote. we'll see if that happens later today. >> we'll have much more coverage on the volcker rule and what it means for the banks and for you as an investor later this morning. the former fdic director sheila bair will join us in just a few minutes. thrusters at 30%! i can't get her to warp. losing thrusters. i need more power. give me more power! 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[announcer] tempur-pedic owners are more satisfied than owners of any traditional mattress brand. tempur-pedic. the most highly recommended bed in america. now sleep cooler with extra cooling comfort on our bestselling tempur-breeze beds. visit tempurpedic.com to learn more, and find a retailer near you. >>> some of america's best-known companies have been making stealthy, discrete moves, if you like, to the upside. but they've not managed to stay under the radar of our own dominic chu, who brings us more on them now. dom, over to you. good morning. >> well, good morning, simon. we wanted to take a look at some of the big-name stocks that are out there that haven't been the momentum names we've been talking about, so we picked out three of them to give you an idea that there are other big-name stocks making moves that you should put on your radar if they're under your radar right now. the first one is archer daniels midland, one of the biggest food companies in america. the stock is up 55% year to date. and if you look at just this month in december, it's had a pretty decent move in the last week and a half or so. it's up about 5%. not too shabby for just the first couple of weeks, so adm. another one is the world's biggest making of computer chips, intel, up about 20% year to date. yeah, it's lagging the market. but if you take a look at what it's done for the past week or so, it was the best-performing stock in the dow jones industrials average, and some analysts/investors are getting more bullish on the company's prospects in the pc market, believe it or not. so that's something to watch for sure. also one we want to highlight is general motors, of course. it was under the radar for us up until this morning when they're getting the new ceo in mary berra, but it's a $57 billion company, going up some 20% since the ipo and november car sales are still showing signs that the company has sales momentum. so the stocks, all big names, large-cap companies making good moves of their own. of course, stay tuned, because later on this afternoon in "street signs, reque signs," wer big companies, not just in time for tax season, but one you'll want to put on your radar. back to you. >> all right. one stock to watch is clearly twitter. we're looking at the highest levels since the company went public. $52.59, off slightly from the level. but we'll talk more about why twitter is behaving so well in just a moment. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ thaso ally bank has a puts more that won't trap me in a rate. that's correct. cause i'm really nervous about getting trapped. why's that? 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[ bell sounds ] >> here are the five major financial regulators, finally releasing details on the volcker rule, which bans proprietary trading by banks. >> i want to know oil. i want to know dollar. i want to know copper. i want to do bowling crate. i don't want to know taper/no taper and vogue irrule. -- volcker rule. >>> with the thought in mind, i'd rather not see it. the way it's played out is manageable enough. the real issue now, i think, will be kind of the compliance and monitoring front. >> sure. >> she did a brilliant job, because if you look at the success of the new gm products and all of the awards the gm products are getting, she's done a fantastic job. >> announcer: the "squawk on the street countdown to christmas" is in full swing. ♪ christmas >>> good morning. if you haven't heard by now, general motors names mary barra to succeed dan ackerson. our phil lebeau joins us with more on that. hello again, phil. >> the call has not started yet. we are on it, as soon as it begins, if there's any developments, any quotes that come from mr. ackerson or ms. barra, we'll give you the a number of major announcements including mary barra being elevated to the role of ceo of general motors. she will take over the top spot on january 15th. there may be some people who are saying, who is mary barra? she's a 33-year veteran of general motors. if you're in the auto industry, you know who she is. her background is in general motors operations. that's really her strength in terms of coming up through the auto industry. and why is she replacing dan ackerson as ceo of general motors? he has said for some time there was a succession plan in place, but most of us thought it would happen late last year. akerson asked for the advancement, because his wife has been diagnosed with late-stage cancer. he wants to step down to spend time with his wife. we'll have more throughout the morning from ms. akerson and ms. barra, regarding the huge, huge change. back to you. >> all right. phil lebeau in chicago, thank you very much. the gm shares now, just slightly higher on the day. barra will be the first woman to lead a global automaker. our own beckyre on a journey and we want to make sure we're engaging our employees and tapping into the ingenuities, and the responsibility we have now, we have 35,000 people connected to designing, selling, or buying the parts. and we want to get them involved. they know how to do their job better than anyone else, and we need to support them as they do that, and enable them to be creative and get their great ideas. >> big news, and we'll talk about mary barra a lot later on in the hour. >>> the fdic has approved the volcker rule, one of the five agencies that needs to give the okay. eamon jabbers has been going through that all morning long. hey, eamon. >> reporter: hey, we're just across the street from the fdic, and they gave us a brief on what's in this thing. let me drill down. they're really focusing on the trading desks inside each one of the major banks. that's the focus of the regulation, not necessarily on a per-trade basis but on a desk-by-desk basis. one of the requirements they'll hav