down 11% bill ackman on the first day of trading in amsterdam. panic and redemption define investors. here is what he said. >> we are not berkshire hathaway. that is not a bad business model. you think about a long-duration business strategy. we will buy large stakes in public companies like we have in the past. do you think of yourself more like warren buffett? a betterk that is choice. i'm friendly with mr. carl icahn . in terms of investment strategy, we are much more like berkshire hathaway. the first time, someone has contracted ebola inside the united states. is hazardous materials crew decontaminating the apartment of a health care worker in dallas. she came down with ebola after treating the man who was being treated for the disease at texas presbyterian. there was a breach in protocol. been dozens of health care workers who had time with thomas eric duncan. hong kong truck and taxi drivers losing their patients with pro-democracy demonstrators. hundreds tried to break through barricades set up of the protesters. the protests have created

we spoke to bill ackman in an elusive interview. street, they wall start trading on the new york stock exchange. we will be speaking to the ceo and the chairman. this is a great conversation coming up. good morning to our viewers in europe. welcome to you waking up in the united states. it is columbus day. i am guy johnson. this is "the pulse." we are live from bloomberg headquarters in london. we are not seeing eye to eye when it comes to shares slumping. let's talk about the markets. last week was brutal. are we getting a bounce this morning session mark yes. week, $1.5 trillion wiped out. let's talk to jonathan ferro about the action we are seeing. it took about an hour to happen and we had the turnaround. stocks are swinging up and down. it is been very volatile. how much attention can we pay to the rebound? the question i will ask an the point i make is the discussion and the debate has changed in its tone and direction. it is based on a recession in europe. it, there response to are two key battles going on. more theout how mu

i sat down with bill ackman there and said to him, bill, you chief standing alone on the other side ofgoing to do? he said, i'm going to wait until the end of the earth because this stock is going to zero. the tide is starting to turn. i also had a chance last year to sit down with david and we are sitting down again today. he told us exclusively, he saw the bond bubble going to burst. what he thinks about galen, draghi and equity valuations. >> he really got it right when he said don't fight the fed. he timed that very well. and my neighbor in new jersey -- >> is what else he is. a minority owner of an nfl team. what does he think about roger goodell? >> sounds like a great show. thank you so much. here's a look at the other top tech stories on our bloomberg west radar. the studio behind the twilight film will hold a contest. facebook will show the films. five full-length twilight movies. the war is almost over between his knee and amazon. -- disney and amazon. they're close to settling a two-month dispute. several upcoming disney movies were back on the amazon site. as we kick off th

bill ackman is clearly going to go on a shopping spree.e will buy one thing, one company, we will hear about it maybe as soon as next month. end of november we will get his sense of what he has his eye on. i asked him how he will spend potentially $6 billion. comes intotal that pershing square gets repopulated among all the funds we manage. we've got about $18 billion in capital and about 1/3 of it is in pershing square and we have a new investment we will announce in the next 45-60 days in the capital will go over that new investment. >> a us-based company? >> yes. >> can you give me a hint on the sector? >> no. >> you will spend the bulk of the cash in one place? >> that's correct. >> we heard an interesting speech, about 1608, crybaby shareholder do you think of yourself that way? >> no, maybe carl icahn would call me that. the reference was to the fact that in those days, governments was not top of mind for many corporations and it has become more top of mind as a result of shareholder activists and shareholders being more engaged. i t

. >> and are joined by bill ackman.r company is a listed on the exchange and will ask you why europe, but first question, when you rang in the dong, back end or forehand? >> back end. it was a big moment. >> why amsterdam? >> in the u.s., you cannot list a company that offers a security insensitive. -- incentive. as a result, weft to be an offshore entity. our choice were amsterdam and london. market andthere is a want to be in a major part of the exchange and will be the 25th largest. people will look at us as a real company and will benefit liquidity. now a youe $6 billion will going to ship in spring before college and can spend and one plays only. >> the capital gets repopulated among all of the funds. with a $2 billion in capital. -- we have $18 billion in capital. a new investment we will announce the next 45-60 days in the capital will go for the new investment. >> a us-based company? >> a us-based company. >> can you give me a hand? >> no. >> and offering speech about 16 crybaby shareholders. do you think of you

that is bill ackman.

activist investor bill ackman pershing square holdings fell 12% in its trading debut in amsterdam.e has a new u.s. target in his sights. >> we intend to use the cash for a new commitment. we will announce in the next 45 to 60 days and the capital will go for that new investment. >> another debut. fiat chrysler shares began trading on the new york stock exchange. why t

there is still a lot more to do in the story. >> was the bill ackman property fight good for canadianacific? >> it was. i think organizations have to go through a cleansing. this organization had gotten in a rut. >> the organization or the industry? , the organization. clearly the board of directors went to sleep. we are not taking care of the shareholders interests. it became clear to bill that if you looked at two large railroads in canada and one was performing excellent and the other one was not, what is the difference? i was brought in as a result of the proxy fight. >> if it was a mess before you -- got there, is there a suggests -- is there a secession plan? >> he was probably one of the top operating men. the succession plan, we are ready for me to go and move for -- move forward. >> you had a great track record. do you and he talk about other things, some of his other investments? >> i stick to railroads. about one lunch together and made a deal and shook hands. >> one lunch? and that was it? one lunch and two books was enough. we just hit it off. there was a certain chemistr

. >>> an activist investor bill ackman plan to increase the offer for allergan. the bid could value the bow tax maker, a $4.5 million boost. the move is to keep allergan from striking a rival deal. shares up each. the close at $190.50, valeant finished at $125.90. >>> and at&t is paying to consumer refunds to settle allegations that it added bogus third party charges to cell phone bills. daily horoscopes or trivia never requested. enforcement action for this so-called cramming is the largest in the history of the federal communications commission. at&t shares up, though, nearly 1% to $33.15. >>> citi group is gearing up to spin off the subprime lending unit. one main financial, which makes personal loans to consumers with less than pristine credit is preparing a $50 million initial stock offering. citi group tried but failed to sell the business before and now says one name no longer fits with the strategy. >>> switching to politics with under four weeks to go before the midterm elections, and the focus now is on kansas and what some considered to be the most imp

executives have looked for new jobs, expecting the merger to go through. >>> meanwhile, valeant and bill ackmans ackman is trying to discredit their bid. he called valeant's offer progress attic. aller gn has repeatedly rejected ackman and valeant takeovers. >>> apple easily beating estimates in the fourth quarter, selling a record number of iphones. >> the chairman and ceo has died on a plane accident at a moscow airport. >> oscar pistorius is sentenced to five years in prison for the culpable homicide of his girlfriend. >>> welcome back. let's have a look at european markets. as you can see, quite a lot of green there. they opened the day basically flat, went up a little bit, but they gained more strength in the last 20 minutes or so after reports from sources saying that the ecb possibly considering buying corporate bonds. the ecb's governing council came out quite quickly to deny that. nonetheless, talk about what would be a monumental step has given markets a little bit of stimulus, denied at this stage by the ecb's governing council. france up 1.6%, germany up 1 is.3% and the ftse 100 up

bill ackman first approach the company back in april. float his retirement system is set to cut pimco investments po box was at the state will significantly reduce the $2 billion pension they have invested with the firm and also withdraw more than $1 billion for the for a one-stop program offer to workers. go to the twitter question of the day. >> we just heard from michael holland how he is playing to selloff. our twitter question of the day, what is your investment strategy as stock selloff? tweet off. going to the triple leverage cash fund. three other percent cash. >> that is time strategy. we will be right back on "bloomberg surveillance." ♪ >> good morning, "bloomberg surveillance." international monetary fund, look for that at 10:00 this morning on "market makers." the imf out with a stunning pre-report over the last number of days on global slowdowns. the official report at 9:00 a.m. this morning. look for those headlines across the bloomberg terminal. >> walmart is getting health insurance for another 30,000 part-time workers. w

with the ipo, bill ackman having the trouble. >> in amsterdam. >> let's do a data check. bonds, bonds, bonds, currencies and commodities. futures up to bend. 2.20%. yield, just backup 2.19 earlier. sterling under 160. nymex crude trying to make new lows. on to the next screen which shows more of the turmoil right now. look at the vix. the average is 20. to double over the last week, really speaks to the new volatility. >> and that is the highest the too. >> when i wrote this up in our have ago, these were different numbers. look at the two-year yield. the 30 year bond yield is absolutely stunning. >> is it under 3? >> 2.94%. the migration, they're down, this offer columbus day closed. we have some difference here. here's the 30 year bond back 10 years. at 3%, the blue line, how rare it is. this has to do with the world coming to end and washington. this time is different. toare world really is going end. >> i don't know if it is going to end. >> this is a much more orderly drop. >> it is. down the go for economic reasons. this will be frontline with us through "bloomberg

has charged two men with insider trading after they learned hedge fund manager bill ackman was shortinge stock. the man was told by his roommate that ackman was going to make a negative presentation on herbalife. ackman and pershing square have not been accused of any wrongdoing. >>> a consultant is cutting its rating on pim whoa's funds and four other funds. the move comes a day after morning star downgraded the funds. several institutional investors have placed pimco on their watch list. pimco's cio says there will be no changes to the way money is managed now that gross is gone. listen in. >> i believe my role ultimately at the end of the day is to create an environment that allows for good decision making. we're going to be very, very focused on client returns going forward. we always have been here at pimco. that is the key focus of every management team. >> pimco's ceo douglas hodge tells cnbc the company is moving forward and clients are standing with them. listen in. >> and we've lost that tape, but we will give you an update on european markets now. european markets have been b

among these, richard parry of care he capital and bill had and -- of care he capital bill ackman of pershingare. thank you. what is this all about? >> in 2008 the government bailed out fannie and freddie. the government changed the terms of the bailout. the initial terms were of the government would get 10% of the dividends from fannie and freddie. in 2012, they change the terms so they would die per 100% of the profits to the united states government -- diverse 100% of the profits to be united states 100%.ment -- divert >> there were some amendments to this. what exactly happened? the government said it had the authority under a statute enacted in 2000 and eight. that statue created the federal housing finance agency. the government, united states thesury said they had authority to change the terms of the bailout and divert the profits to the united states treasury. fannie and freddie shareholders or upset by that. there are more than 20 cases that shareholders are filed against the government, arguing the amendment that change the bailout was unconstitutional, was a breach of contract. yes

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lots of hedge fund people speak, bill ackman unveiled short on herbalife.: couple years ago. >> couple years ago. david einhorn unveiled short on lehman brothers in 2008 at the robin hood conference. what's interesting is carl is there, carl is going to battle larry fink. they're going to have a debate over activist investing. larry fink is the ceo of black rock. carl does his thing. larry is critical of activist investing. i said to myself, who's right in the battle right now? i like what carl does, but his record hasn't been very good lately. what's interesting, i thought to myself, would carl icahn the activist investor be protesting his own record? if he was a public company and investing in it. i think yes. and you look at aside from his apple investment, he's done very well with apple. liz: and forest labs. >> paypal, very good. rig, not very good. liz: transocean. >> not very good. herbalife, so far this year, horrendous, ackman is on the right side of that one. and the biggest one of all, i think is netflix. we should take a look at stock chart of n

allergan is one of the leaders today as bill ackman and valeant increase their bid.ainers include perk perkin elmer. health care is also the leading sector so far this year in the entire s&p 500. back over to you. >> all right. thanks very much. dom chu for that sector report. up next, an amazing story about how this 3d-printed heart helped save a baby's life. we're back for that conversation after a quick break. your customers, our financing. your aspirations, our analytics. your goals, our technology. introducing synchrony financial, bringing new meaning to the word partnership. banking. loyalty. analytics. synchrony financial. enagage with us. >>> with the dow beginning to head down into negative territory, let's get to rick santelli in chicago for the santelli exchange. >> thanks, simon. i'd like to welcome our guest for this wednesday morning, lewis woodhill. thanks for taking the time, lewis. >> good to be with you again. >> i like a lot of the pieces you write. friday we had what was perceived to be a pretty good employment report. we've had a string of positi

bill ackman's always writing letter, yapping about something on your side.ion to write a letter today? why tell us we're. >> willing to go to 200? we've heard that before, going to raise, not going to raise. seems a little schizophrenic. >> you haven't hear anything schizophrenic. there were news stories but the news stories were totally wrong. >> nothing i've reported has been totally wrong. >> david, always totally right, exactly right. i think we're in the time frame of all of this where it was important, remember valeant hasn't written a letter to this board in over a month. and we've gone through a lot of things that have happened in the last month, including putting our earnings out, et cetera. felt it was time to say, let's set the record straight on our willingness to increase our offer. i've told you before, at least in my view, it's hard to do hostile bids, particularly involving stock, right? when you think one side's winning or losing, and the stock gets played and it ends up that the acquirer's stock is art fishlely low, but i've always told you

that is what activist investor short eller bill ackman wants. that they will not happen. they have been polling academics and lawyers, why is the stock collapsing? >> i think what we put out, let me get to the second part, collapsing on my report. the second part of this is that they do expect, what they're telling investors they do expect sanctions. they do expect that they're going to debt beginninged for some reason -- get dinged, how they deal with the distributors or hyping to investors, they expect some sort of action out of the ftc when all is said and done and that is why the stock is goes down. melissa: from one market moving story to another, you were out shopping last night. your sources were out shopping? your sources were out shopping. >> shopping for what? shopping for what? melissa: let you do the whole entire story by yourself. i'm not going anywhere near it. >> you love this you emailed me first thing today. you loved it. melissa: i sit on sidelines and enjoy when you get way out there. >> sources tell the fox business network that eliot spitzer was actua

. >> moments ago hedge fund manager bill ackman arrived at an orange county courthouse involving a the case where allergan has fought a takeover by valeaueant saying they are guilty of insider trading. a shareholder meeting. we caught him on the way in. here is what he said. >> are you confident today. >> wear going to hear what the judge has to say. you're never supposed to anticipate what a judge says before he says it. >> ackman of course holding about 10% looking to vote in favor of removing a number of of directors opposed to this deal with valeant. at the same time allergan is much opposed and have tried various ways to do it. including litigation. and a as well raising questions about a stance taken yesterday by valeant to potentially raise their roughly $179 per share offer to 200. note worthy too that michael pearson the ceo of valeant was walking in this morning as well. he'll be at the hearing in orange county as well. and back to you. >> a know a lot of people in your space are watching that. >>> tesla, late yesterday the "wall street journal" reporting rough numbers for th

. >> he's looking at the play ground in queens for the bill ackman. >> that's right. different playgrounds he maintained. i'm looking, dom, at the dow here. all 30 stocks are negative. it's the kind of day we grew accustomed to in the late part of the last decade. what's going on in this market? you heard michael farr say the market looks toppy to him, these kind of wild swings up and down. >> it's interesting. back in the depths of the financial crisis, i remember waking up to headlines saying futures were down in japan or somewhere else. we haven't had to deal with this process in a while, certainly not as much during the zero interest rate policy from the fed. there is a sense among many in the markets right now, many professionals, that the one thing we lacked during the market peaks that we've seen since 2009 is a good amount of volatility, especially over the last couple of years. as everybody's been waiting for this pullback that's been something deeper than 3% to 5%, what we have not seen are these types of major swings. so there are some in the market that sa

a hedge fund manager and bill ackman have teamed up to acquire allergan.t has it it done in exchange, how about deliver the best results of any pharmaceutical in the land. the company's ceo has done more to create value than the people who run merck, pfizer, lilly, bristol-myers and so many other so-called powerhouses and yet the catcalls about his leadership continue from valiant and ackman. i think what they should say, too, they should say we misjudged you and all you could do from shareholders. you took many of the accidents we wanted and we are thrilled which is why we're going to go after a different company where the ceo isn't as motivated to do the right thing. thanks, david, for a terrific job. why would that be so hard to say? finally today apple ceo tim cook got a pseudofan letter first leaked to twitter from financier carl icahn while cook has done a remarkable job, there's still so much to do. once we have the stock really moving because he believes that a defacto short squeeze could occur. he wants apple to roll out an high-def, television se

federal trade commission that the herbalife investigation that was maybe started by short sell of bill ackmans not going to lead to the shutdown. they will miss earnings a little bit. when the market hears that, again, they understand the worst-case scenario, probably, what the company is telling investors and i hope they're not lying when they say this, the worst-case scenario is not going to materialize. you never know, i can't get in the ftc's head. >> the power of twitter. >> i'm telling you what the company is telling investors. i don't like the stock, i don't know how you make money off of protein shakes. the notion of distributors whether they can sell, whether they are end users, problematic. you think they're a pyramid scheme? usually they blow up a lot sooner. >> okay, looking at the stock move on charlie gasparino. that is all we have for now, i hope you're making money today. introducing our brand new money printer, if you follow me on twitter, you are part of the campaign to get xerox to fix our printer. we have fun all day long like we do on the show. follow me on twitter. "coun

>> bill ackman. >> who got hunter harrison there, ackman. >> one of those strikes you as the kind of guy that will walk away, they say no thanks. >> probably not. why you're seeing csx hold on to the big gain up over 34. not those highs anymore. this is a huge move right now. this is a space still my favorite space when talking ate energy of any type. i think this is the way you want to be exposed. >> josh? >> i like kansas city southern. kansas southern is one of the best monopoly businesses in america right now. the vertical route from mexico to the middle part of the country. not just oil, it's finished goods like car. it's a 20 multiple but deserves it. this is the type of stock that should work higher over the ensuing years. >> the whole group is up. >> up 3%. >> not the whole group. >> with last week on the potential merger news. i think this is the type of business one day it gets bought and until then no one else can do what they do. >> to tech now, major sell-off as you know in the red yet again today. chip stocks in particular falling hard and while paul meeks bearish on th

and one of bill ackman's funds actually started trading for the first time in amsterdam today.shing square holdings priced at $25 a share. they raised about $3 billion through the ipo process to basically increase the capital they have available and the wider share ownership. he told a news conference the fact it's trading in negative territory was good if it went up they wouldn't have priced it correctly. guys, back to you. >> simon, thank you so much. europe has been an important tale for the rest of the session. we'll see if that holds on closing bell. an inside look at the state of start-ups in this country. andrew sticking around for it. chairman and flicker co-founder katerina fink joining us. 135,000 people, 18 venues focused on the cloud. we will be live at sales force dream force conference in san francisco, next on squawk alley. traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the most on-time flights are nothing if we can't get your things there too. it's no wonder more peop

bill ackman and dan loeb, drew houston and aaron levie.ms there are several bets on industries too. >> absolutely. there are certain things like elon musk doing all kinds of odd things, moving to mars, building cars and that's to me very interesting in terms of innovation but in general it is product oriented with the cloud, for example, such a big thing, storage is such a big thing. and, you know, i don't know if edge funds as well but all sorts of innovations going on too. >> a number of people might underestimate jessica alba, not understand what she's done with the honest company. you've had her at your conferences. tell me what impresses you about her. >> she's got a great partner too, brian lee. they're doing really interesting stuff in terms of commerce and commerce that they send in terms of commerce that is sort of a definite brand of, you know, things that are around ecologically, safe things for children, smart move. interesting to see how big they can get or get bought actually is what i assume. sort of like a snapple for clean

bill ackman plans to raise their takeover bid for allergan. it will make their new offer in december, close to the shareholder meeting with some that's where some directors may be removed. allergan has characterized these previous bids as grossly inadequate. americans are living longer than ever before. edit be born in 2012 expect to live almost 78 years. expectancy for women is little more than 81 years. for men, slightly less than 77. cancer and heart disease remains the big killers. alcoa kicks off third-quarter earnings and season after the bell. mike mckee says if you're looking at earnings per share, you are looking at the wrong thing. is the convention that has developed. did company x meet forecasts or not? it depends on whether their stock will go up or down. that's not how people who know what they are doing say this should be done. matt company. earnings by nature don't tell you anything about what's going to happen. stock markets are supposed to look six months ahead. they look three months back. it's not a good indicator of what y

bill ackman has a separate case alleging that the sweep of profits violated the constitution's fifthmendment. a different claim brought by perry and berkowitz. ♪ >> live from bloomberg headquarters in new york, this is "market makers." right is wrapping up .er first fiscal year running an increase in wall street takedowns. is it playing too rough? the founding partner of wall street firm would say yes. he joins us now to discuss his 12 year fight with the fcc. tell us your story. >> we have a firm that invests in american companies and we do a lot of research. we were accused of insider trading in a small company. we bought the company in 2001. i do think it was completely legit. >> so the dog got a hold of the did not want to let go. >> right. they had put so much time into it. they just kept going and they have a process that almost forces you to go even if you are innocent. >> after the 12 year battle, what happened at the end? >> we won, unanimously. spend inch did you loopy -- losing clients and legal fees? >> the idea was to grab anybody who was small. if the wrong guy. we just

we will start with a fund managed by investor bill active in -- activist investor bill ackman. wayfarer hopes to raise more than $350 million. the boston company will add 11 lien shares at an expressive -- an expected price range of $20 apiece. that will be tomorrow on the stock exchange. and deutsche bank has the 20 top managers from 2011, payments are on hold because of legal fines. four of the executives are still employed by germany's biggest bank, in coding the -- including the co-ceos. .> our guest is chris grisanti these in search of value. that means when do you sell as much as what to acquire. describely begins to his scrambled bank stocks. someone say it takes courage. i thought we were in a recovery. >> we are in a recovery. we don't see an imminent financial crisis. we just think that stocks have returned from crisis levels that were half of tangible book value. now we are seeing one another have times tangible book. that is what we do. cash flows of rising and dividends. >> things are about as good as they are to get at the banks. much more regulation than 10 years

the new york times actually had a very interesting story about this involving bill ackman who's a walleet financier and his campaign against herbalife. ackman has been on this campaign against herbalife. he has lots of complaints about its business model and has short the stock. he was able to get massachusetts senator ed markey to write letters to the securities and exchange commission as well as the federal trade commission demanding an investigation into this company. and the day that that investigation became public, the stock price fell which was a big help to mr. ackman. kind of similar to a recent new yorker cartoon that some of you may have seen which shows this wealthy man in this really nice office with really big windows saying, "i own one plane, two yachts, four houses and five politicians." when you look historically, we often have had various organizations in american society that help us keep track of what is going on in the political process. and, of course, the news media is a big part of that. they have been the major oversight organization. reporters are the people w

. >> i mentioned bill ackman and , and still did run is, for the time being, m&ackstone's and mende -ss. he is going to continue working for steve schwarzman. we have the players. >> isn't that an ideal set up? the seat, andin you spin off. >> maybe he helps them find deals. in has been one of the few areas of m&a that has not exploded. you have not seen a lot of lbo's. maybe this frees up blackstone. all -- a lot of this is cbd. boutique guys have done better, i would argue. center field, a relatively small shop, compared to ring help. >> probably because he knows what is coming. joel perella went to lehigh university. >> that is going to pay off handsomely. if you put the same revenue multiple on blackstone's five guyspaul and the he is bringing with him are make a lot. >> they are going after deals for $500 million to about $2 billion. they have been aiming for multiple billions. they worked on time warner. level, is more that fortune 500 companies. >> great to have you on. >> jeff mccracken. up, this may be the numerical on 34th street. i am not talking about santa. amazon getting

top 25 or average across -- think there is a massive delusion that anybody out there is making bill ackmanuy it. >> if you were at a fund that has outside performance, you will get paid. >> what does the average guy make? >> there is no average because they're different performance -- ap ha hedge funds come great performance, paid seven figures. fund without great performance is based salary. there is nothing to pay people. and they should be ok with that because in great years they will get the big bucks and if they don't have good performance, they should not get paid. >> bring it over to the sell side. guys at the top of every major firm in trading or making all the money. different all that it was, as you know, pre-crisis. and the sell side does pay with an advantage of each other, so you do not have as much variability. >> is the dynamic i don't want to live in connecticut i want to live in wall street? >> i want to live in new york city. [laughter] >> ok, ilana weinstein with us as we look at compensation. scarlet? for shares of target to rise. this is "bloomberg surveillance." i'm s

valiant and bill ackman are reportedly planning to boost their bid for allergan by 15% a share.uld value the botoxmaker at more than $56 billion. allergan would reportedly entertain an offer of $200 a share. vallant's bid would be $191 a share. taking a look at those stocks and how they're trading, allergan up about 4% in trading. >>> in other news, tim geithner will be back on the stand today in the lawsuit against aig abailout. on tuesday, geithner, president of the new york fed in 2008 said he believed allowing aig to fail would have been catastrophic. geithner believes that the bailout wiped out shareholders, although he acknowledged that -- in the past. it's expected former fed chair ben bernanke won't testify until thursday 37. >>> coming up, can jcpenney's ceo convince shareholders it's ahead of the track? stay tuned. and that became our passion. to always build something better, airplanes that fly cleaner and farther on less fuel. that redefine comfort and connect the world like never before. after all, you can't turn dreams into airplanes unless your passion for innovat

don't forget years ago bill ackman was in there, failed largely to get mcdonald's do -- >> what did they change the menu in. >> wanted to take owned and operated stores and create a reit, if memory serves. he was involved at the time which he got involved in a couple of other situations, notoriously, jcpenney, which did not work out for either one. >> hanging in there so far this year. >> raised $3 billion in permanent capital, holy grail. >> perhaps push for management shakeups. thompson failed to turn around declining same-store sales growth. >> a big ship to turn around did he get dealt a tough hand? >> who, ackman? >> no, thompson. >> thompson, it's like following babe routsa babe ruth, skinner had a nice run. keep your eye on hog, rbc ups to outperform, one of the best gainers this morning, reports called keep calm and harley on. he new full suite of products. that's photog result in share gains. think the valuation is reasonable. take a look at oil today, too. 88.74 on west texas, brings to mind ubs upping conoco to a neutral. they cut their price target to 78, saying valuation is

. >> last week bill ackman was your partner in all this accused the ceo of allergan of releasing falsetion to manipulate valeant stock. allergan refused to comment on those claims. they're out now again. >> yes. >> and you were they are lying about what? >> i think they're -- i guess at the beginning of this they said the third quart ser going to be the true test of valeant. and we will have annualized bausch and lomb. the wheels are falling off the bus. i think today's earnings shows bausch and lomb continues to grow. the rest of the company, you know, 19% including bausch and lomb. they made a lot of allegations that have proved not to be true. >> there's a bernstein report -- i don't know if you saw this -- where doctors indicated that they would switch from valeant if you took over allergan to other providers. do you believe that? and what do you think it is about valeant that has the medical community on edge? >> i've spent the last three or four weekends with doctors. the leaders in the united states and canada. and for the very purpose of talking to them about valeant and our mo

ackman act when -- bill brought him in. >> the whole industry got rich here. >> it really went up.fundamental changes made on the micro level with labor contracts and flexibly, and that kind of helps. to the spirit,es stephen king, the animal spirit of transnational corporations being part of the m&a that keeps business and finance going. >> absolutely. ,ne of the big issues in 2007 with the process of globalization, it is in danger of falling reverse. all caps off center dot sure >> harry impact of -- reid is keeping up with technology, as charlotte has breaking on ibm as well. >> they will pay global foundries 1.5 million dollars to take their money-losing chipmaking unit. when i give you earnings per share, i do not think it is comparable to the consensus out there. operating, adjusted earnings per 10%., $3.68, down there is a $4.6 billion charge. we also have revenue in the americas at $10.1 billion. billion revenue from continuing operations, and the stock is falling in premarket trade right now. >> david haro, help us. herro, when you look at a ginormous company like ibm or t