things that we're going to do in devices. >> reporter: he made a controversial call years ago to bet nokia's future on microsoft. >> to combat samsung and apple feels like a good place. if you take a look at the android market right now and the other players in the android market environment, it's a tough slog. >> reporter: it's sure to be a tough slog anyway. apple is out selling nokia 6-1 but if this deal goes through before spring as microsoft hopes, it will at least have more firepower. i'm jon fortt. >>> investors were talking today about that massive verizon acquisition announced over the weekend. it's paying $130 billion to britain vote a phone to buy the 45% of their wireless joint venture that verizon didn't already own. the news didn't go down well with verp risen investors. shares tumbled nearly 3%. but verizon's ceo told u.s. customers they won't see changes to the cell phone service and reassured wary investors that the deal will pay off in the long run. >> where can you buy a business that has 100 million loyal customers and 50% margins and no risk and feel to grow the business

. >> microsoft makes a big bet, snapping up gnocchi a -- nokia's phone operation, but will the investment pay off? .alk about hot real estate this london building is heating up so much they are literally melting. welcome to our viewers on public television in america and also around the globe. u.s. secretary of state john kerry appeared before a senate panel appealing for military action in serious -- syria. made the administration's case before a key vote on the issue. our north american editor followed all the action and starts our coverage. he would be so much weaker if congress rejects him, so the president had the leaders of both parties into the white house to tell them his plans for military action would degrade assad's capabilities and ultimately a louse serious --. to free itself from civil war -- allow syria to free itself from civil war. >> this is not iraq, and this is not afghanistan. this is a limited, proportional step that will send a clear message not only to the assad regime but also to other countries that may be interested in testing some of these international norms,

. >> microsoft makes a big bet, snapping up gnocchi a -- nokia's phone operation, but will the investmentay off? .alk about hot real estate this london building is heating

. >>> microsoft $7 billion bet, the software company announcing tut forking over $7.2 billion to buy nokiait used to be the hottest, sexiest most amazing phone on the planet. anyway it's a move to attempt to revive two companies that aren't exactly thriving in the mobile phone market these days. will the gamble pay off or is it too little too late, richard quest is "outfront." will this be enough to resuscitate -- >> i've got the evidence in front of me because that's what this is all about. let's start with this. this is the phone that was put together by microsoft and nokia. people love it. those who have used it absolutely adore it. but unfortunately it's got no market share. because, first of all, nokia was knocked out of the park by dear old apple. with the iphone. and then they were knocked out of the park, switch it on, so you can get a good idea of who it is, by an android phone from samsung, and it's left these two absolutely wondering what on earth is happening. >> oh, no. >> happening to them. >> my blackberry. >> well, blackberry and, of course, nokia. so, you put the two toget

bet on mobile. the company buying nokia's mobile phone business for over $7 billion.tell you what you need to know. >>> and pensions a big problem in the land of lincoln. the state of illinois faces a $97 billion unfund ed liablity pension. our jon fortt has the latest live in san jose. good morning, jon. >> good morning, carl. it's interesting, one fact i want to bring up right off the top, value act. i don't know if you have mentioned this on air, which did this deal with microsoft at the end of last week. the activist investor. they actually did not know that this was coming. microsoft has said. so that puts this in an interesting light. we talked about multiple angles on this deal. one still to talk about is stephen elop who is coming over to microsoft now from nokia. now, a lot of focus going to be on whether he is a good ceo since he now becomes the de facto front-runner to be microsoft's next ceo since steve ballmer is stepping down. a lot of people will point to nokia's stock performance under elop. the stock down more than 50% since he took over three years a

bet against the canadian government. byron trot, some of the best value investors are looking at the company. going back to nokia. nokia, nobody thought -- nobody thought microsoft was going to buy out nokia. the stock was trading at $3. now it's $6. valuation is $25 billion. motorola bought -- was bought by google at $12.5 billion. we're talking about -- >> let's step back for a moment and think about this. >> the financing is not going to be a problem. >> i completely disagree. >> is it the same comparison? >> it's absolutely not. >> why do you disagree? >> it's not. nokia as a business and motorola's business were far better in terms of their -- in terms of both, like, the patent portfolio and in terms of the actual business itself. if you're talking about the actual value of the blackberry business, there's almost no value in it. >> people are carrying around blackberries and iphones. brand loyalty is off the charts. >> the brand loyalty is eroding by the second. the deal gets worse by the day. >> why he didn't put in his resignation at that time i don't know. >> john? john? >> yes. >> how can you make an arg

nokia handset division. then we learned jana partners just took a big stake in the long underperforming safeway. started taking a lot of noise. i bet safeway does something to bring out value. yesterday we had the consolidation of packaging corporation of america buying boise, which will lead to supply cutbacks and therefore higher prices. we had allegheny tech throwing in the tungsten towel selling to kennametal, immediately producing about a 10% advance in the stock. and today we had huntsman spending $1.1 billion to buy titanium oxide business of rockwood holdings. the second largest producer of that chemical out there. this is fantastic news for the glutted business, one that is weighed down, none other than dupont which is trying to get out of the space. keep in mind, this is all -- everything i mentioned within the last 48 hours, 48 hours. i think the activist prop and the management prop are on the rise and there's plenty of money being raised in the category to make things happen. management recognizes the u.s. economy isn't growing and they are mad as hell and aren't going to take these prices anymore. do not fear the gaun

never bet against -- >> that's the only reason i asked the question. don't cross les. >> microsoft will purchase nokiaicrosoft is shifting its focus towards hardware and away from software. the second largest deal for microsoft behind $9.3 billion purchase of skype. full disclosure, microsoft another deutsch client. we can't get through this show. versus communications will spend stocks to buy vodafone's 45% stake in the country. the largest carrier in the uss. versus has full control of wireless. the sale will be the third largest sale and merger transaction in history and will be completed -- >> verizon -- >> shows how rising interest rates -- interest rates going up and borrowing costs going up so you have companies making decisions. >> moving now. >> buy low, sell high. >> higher interest rates bad. >> you should buy that boat. >> what did we learn today. >> roll tide. >> up next. discover card. i missed a payment. aw, shoot. shoot! this is bad. no! we're good! this is your first time missing a payment. and you've got the it card, so we won't hike up your apr for paying late. that's great! it is g