ar thanks to benjamin mandel, global strategist at j.p. morgan, for joining us. more next "bloomberg markets on." ♪ some breaking news this friday afternoon. charter-time warner merger has been approved. that was announced. charter and time warner cable merging. california does still have to vote. that does not scupper any kind of deal. stocks are little changed, mostly priced in. all right, a little turning to another deal, a deal might have for sour, fairway planning bankruptcy protection. it went public in 2013 with plans to expand beyond the city of new york. it faced competition and a heavy debt load as shares plunged from $13 to $.25. 500 million of equity was wiped out. what does it say about the state of ipo's? really the fault of the ipo, this bankruptcy? .> some of the people say yes that is because of fairway went hugethis in 2013 with promises for equity investors. they had 12 stores at the time and they came out and said we have the potential for 300 stores. that is 2400 percent increase. they came out guns blazing and some of the people said they se