lemonis: the situation at black rock is bleak.ey opened up a couple months ago, and already, they're $15,000 past due on the combination of rent and equipment. it looks like they're ignoring their financial obligations. gary: he has the money. i think he's made a decision to not put anything more into the business. lemonis: so he's personally guaranteed this? gary: yeah. lemonis: the owner of black rock café has a $75,000 personal guarantee on this equipment and the lease. what that means is that we can go collect on his personal assets. i don't want to do that. what i actually want to do is come up with a solution that works for black rock and works for swansons. well, if they can't pay, then what about the possibility of turning that into, like, a swansons grill? maybe it's a way to sell more fish, get better prices. gary: yeah, that might be a great idea. lemonis: swansons should have a restaurant, and black rock, the way it exists today, isn't a viable business, so i feel like i could fix both situations with one meeting. why

a blow to black rock, the world's largest act -- asset manager, losses and redemption.

black rock's rick reader joins with us his take.irst, though, we focus on retail. >> that drag, it seems to be something i think what terry lundgren was on today, he made it sound like it's much more of an industry wide situation. maybe it is. we need to still hear from a few of the other big retailers throughout. we need to heard from nordstrom's and from folks on the did hes count side as well, like tjx. we'll get that in the next couple of days, and i think that will be a better tell. quite frankly, right now you're looking at a reaction, the cascading reaction, right now, of basically all retail sales say, all right, things aren't so great. this is pushing to the down side. there's competition on the e-commerce. we all know about that. >> how is that working out for you? >> not so swell. in fact, michelle, the seasonality seems to be mainly pointing towards the e-commerce sites that pete just mentioned. in particular take a look at amazon today. yes, i know they've got an upgrade. take a look at how they have performed over the

a blow to black rock, the world's largest act -- asset manager, losses and redemption. we are a half-hour to the trading day. julie hyman has the latest. we are seeing stocks up about a half percent here if you look at the s&p 500. other averages rising about the same amount. optimism going into the minutes. if anyone is looking for more direction from the minutes, that might be wishful thinking. one thing driving the gains is energy. energy is the best performing here as we get out the gate. only telecom stocks are lower but very slightly now. energy has been volatile. we have got oil prices on the rise. the american petroleum institute according to someone familiar says it survey showed we saw oil inventory fall last week. in about anumbers half-hour and we will see if that held true. oil is higher for the moment by about 1%. betty: it is a busy deal day. >> and a lot of it has to with 70 -- semiconductors. is $20 per share in cash. was firste deal reported earlier in october, a 41% premium to where the stock closed. down significantly by 7%. also intensifying the bid

talk about timing, black rock put out a report on the price of climate change.hether you believe in it or not, it's an investment issue and it's not going away and does this story fit into the big picture for you? >> it does, climate change is uncertain and the science is well-known but the timing is uncertain. long-term investors, it's an extreme loss and that's the definition of risk. we have seen that with utilities during the japanese to nami in 2011. >> how do you resist climate risk in portfolios? vw has echoes of enron for some people. as you look at that situation, is it difficult to reduce the risk in your portfolio? >> if you think that 85% of emissions come from about 35% of the stock market including transportation, if you have a process, a screening or excluding or if you are an active investor, investing in mitigation, you can reduce the risk of this exposure quite materially. for the last several years, it has not cost you anything in terms of hamas. >> joining us now from janus capital in california is -- the sun is not even up there but i'm sure

for the markets here and abroad, we bring in russ, the global chief investment strategy over at black rock. good to see you again. can you tell us how the events of paris are influencing your own thoughts about how you're now assessing geopolitical risk in your market models? >> in the near term, i don't think there's enormous impact. the market's been fairly resilient. i very much agree with the comment that generally economies tend to be resilient towards these sorts of events. i'm cautiously optimistic in the near term the market is going to look past this. there are longer-term implications. i can think about those mainly in the context of european politics. one of which you've got an incredibly difficult refugee crisis in europe. the largest you've seen since the end of the second world war. this will complicate finding a political solution to that crisis. likely seeing a referendum in the united kingdom about whether or not the uk wants to stay as part of the eu. arguably will strengthen the hand of those arguing to leave. significant ramifications for the gilt market, sterling, a nu

when you watch it again, you'll see a little black rock go under his ski and i think that's exactly what lifted him up. from that point on, you see right there, he's got a little bit of air and then he's in the air and the impact is enormous. it's like he's getting hit by a car. >> it's just straight powder too. >> you hope it's powder. >> it doesn't seem as soft as it kind of looks. >> the impact looks massive when he does connect. >> that looks painful. >> this guy was out back on his skis and continued skiing the rest of the day. you've got to. if you've got the camera crews and the helicopters, everybody's like, you've got to ski some more. rub some snow in it. you'll be fine. >> time to give away another ipad mini. all you need is the buzz word and be at least 18 years old and a u.s. resident. >> enter the buzz word on facebook, twitter or both. you can enter on each every day. tuesday's buzz word is alliance. >> click on win ipad and intertuesday's buzz word appliance. >> and one day later it's going to be bonus give away. one of two will win a flat screen tv. stay tuned and good l

we will talk about that next. >>> later black rock president rob kapito.tching cnbc first in business worldwide. >> wrik don say it will not spin off its real estate assets. shares more or less unchanged on that. let's bring in jonathan maze, he is finance editor at nations editors news and steve schaeffer. jonathan, right move for them not to go the real estate pin off route? >> i think that depends on -- you know, the real estate issue is a really complicated matter for mcdonald's. with the irs, you know, with the irs really questioning these things right now, i think it was too much of a risk for them at this particular point. >> that's true, they have -- the irs has indicated a little skepticism about pursuing these deals. steve, we have a dividend increase. a lot of moves on the financial engineering, if you will, side of things, but frankly mean while it's a lot of the new breakfast items and the menu that's getting the attention here. are both of these things going to increase shareholders' desire to invest with this company? >> well, i certainly th

black rock shutting down a global macro hedge fund because of losses and redemption.mean for the world's largest asset manager? scarlet: moving the rams to l.a. he has some big backers. will he get his way? alix: what will the fed minutes reveal? ♪ scarlet: welcome back to bloomberg markets. alix: time now for the bloomberg business/. building fell more than expected in october. housing dropped 11% to an annual rate of just over one million homes. the big reason, a slump in apartment construction. black rock shutting down its global macro hedge fund because of losses and investor redemption. the goal and sent him down 9% this year. on $4.6ds have fallen billion to under $1 billion. -- assets. alix: pimco has lost its title of the manager of the largest bond fund. it was $150 million -- you can always get more business news at bloomberg.com. scarlet: let's head over to julie hyman at the markets desk. start off with the landscape. julie: the landscape ahead of the fed minutes and 13 minutes. best in 13 minutes. a lot of folks have been talking about these minutes today

and evansburg road near black rock mortgage.utside to delco, i-95 close to he land avenue can you see the vehicles traveling through delaware country it is foggy especially from this high up vantage point. and bellmar, little fog along 42. southbound towards the deptford mall or gloucester premium outlets traffic is not bad watch for foggy conditions. >> we're learning more about the man who jumped fence at the white house. police identified him as joseph caputo after he jumped fence wearing american flag he was immediately caught by security officers and president and family were in the whitehouse at the time. criminal charges are pending. earlier this year the secret service made improvements to the fence following several other fence jumps incidents. >> the president of france and russia reached agreement in fight against isis. they aups noed the new accord yesterday. isis claimed responsibility for shootings and suicide bombings in paris that killed 0 people and for bombing of russian passenger jet that killed 224 people and

the lawsuit claims the property owner black rock investments and the builders of the library gardens apartments cut corners during construction and ignored warning signs about problems with the balcony. six college students died and seven others were seriously hurt when the balcony gave way. alameda county prosecutors haven't decided whether there will be criminal charges. >>> just ahead, is jihadi john dead, what the pentagon and other officials are saying about a u.s. drone strike in the middle east targeting the isis mouthpiece and executioner. >> it looks a lot like it did yesterday, cool and clear, but we are in for a pretty big change. rosemary orozco will be here in a couple of minutes to breakdown your weekend forecast. >> how stupid are the people of iowa. >> republican presidential candidate donald trump taking major swing at rival ben carson and the voters themselves in iowa. hear what else he had to say next. ♪ centrum brings us the biggest news... in multivitamin history. a moment when something so familiar... becomes something so...new. introducing new centrum vitamints

. >> that is the focus against 39 defendants, including segway construction and subcontractors, black rock investment, the owner and gray star, the property management firm. the lawsuits allege the builders cut corners to save money and the subcontractor does not use plywood, but strand board that is more sus sementible to water damage. the lawsuits say the builder framed the balcony in 2005 but did not water proof it right away. the wood was exposed to 13 inches of rainfall. hau suits say in january, the defendants chose to water proof and complete construction for apartment 405 without correcting the water saturated wood components, and the water locked in the moisture, with a concealed trap. the lawsuits alleged tenants observed large mushrooms growing on the balcony a red flag warning that it was at risk for collapse. the lawsuits say one complaint is contained in a document. >> how important is that document? >> very important. if the plaintiffs can demonstrate there are red flags they ignored, and complaints like the ones we're talking about, that puts those defendants at risk. >> re

. >> that is the focus against 39 defendants, including segway construction and subcontractors, black rockthe owner and gray star, the property management firm. the lawsuits allege the builders cut corners to save money and the subcontractor does not use plywood, but strand board that

. -- from black rock. the cultural significance of this, 10 years in the making.t is important. >> i think so. as russell was saying, it is important that it opens to a premium. jon: unlike rome ll. really not sure this sets off the shareholder culture. going back to the 1980's with british telecom, you have the same kind of narrative. 10 years later, and has not set off the shareholders. in japan, they have introduced this. it is a combination of having interesting things to invest in. culturally, they are encouraged to go to the equity, they have the comfort that it is backed by the government, that is the cultural story. to me what is interesting is the flow story. it cannot lend in the traditional way, is that going to change? >> we have already seen this. it changed its allocation about a year ago. it has become a buyer of domestic equities. years, having no sellers, yours or now have domestic buyers in jap an. that is one of the underpinnings. making, itrs in the had a lot of pushback. at central banks, they won't like the prospect sitting on this amount of

. >> that is the focus against 39 defendants, including segway construction and subcontractors, black rock investment, the owner and gray star, the property management firm. the lawsuits allege the builders cut corners to save money and the subcontractor does not use plywood, but strand board that is more sus sementible to water damage. the lawsuits say the builder framed the balcony in 2005 but did not water proof it right away. the wood was exposed to 13 inches of rainfall. hau suits say in january, the defendants chose to water proof and complete construction for apartment 405 without correcting the water saturated wood components, and the water locked in the moisture, with a concealed trap. the lawsuits alleged tenants observed large mushrooms growing on the balcony a red flag warning that it was at risk for collapse. the lawsuits say one complaint is contained in a document. >> how important is that document? >> very important. if the plaintiffs can demonstrate there are red flags they ignored, and complaints like the ones we're talking about, that puts those defendants at risk. >> re

black rock investment and the builders of the apartments cut corners being a mored warning signs about problems with the balcony. six college students died and others injured. prosecutors have not decided if there will be criminal charges. >>> police in daly city will conducts a sting operation, it's a pedestrian safety sting. they will do it at san jose avenue and wilson street. officers will look for people that don't stop. >> jose roselle was crossing when a hit and run driver ran him down. >>> hayward city officials are celebrating the opening of a new fire station and health clinic. the first of its kind in california. the celebration will be at 1:00 p.m. the aim of the clinic is to prevent illness and catch issues before it gets worse. city officials expect the clinic to have 3800 patients in the first year alone. >>> what started as a minor crash turned deadly. coming up, what officers say happened as two people were exchanging information. >> first a popular canned treat being recalled. what you need to know if you have spaghettios in your house. >>> we're looking at a commute

from all right, amer bisat black rock, you are sticking with us.ll turn to india as well as russia for opportunities. ♪ scarlet: in scarlet fu. "what'd you miss?" it's time for the bloomberg business flash. canadian railways attempting a takeover according to sources familiar with the matter. is valued at about $2.4 billion. says hisl ackman biggest regret is he is not in a position to buy more shares of valeant. he made his remarks defending his firm's stake. valeant is under scrutiny for business practices. shares have plunged. pimco is firing back at bill gross, trying to convince a california state court to throw out his lawsuit against the firm. that it was more like a screenplay than a filing. gross claims that he was forced out so pimco could avoid paying him his cut of last year's business pool. that is your bloomberg business flash. .e are back with amer bisat before the break we were discussing china, but i wanted turned to russia. if you look at exchange traded funds tracking the bric countries, only russia is therefore the year. the nam

black rock's rick reader joins with us his take. fi t

black rock and fidelity recently marked down an investment in dropbox. value of that investment by 20% because of certain metrics that made them believe that the investment was actually worth significantliless. of course they're going to go on the road. it has a good story to tell because it's biggest competitor amazon just announced its pulling out of the market. it can't hack it. so square has half a billion dollars in revenue. they'll be telling that story and perhaps they'll be able to raise the price range but it seems to be -- so say that they're being conservative about this i think is an understatement. >> amazon doesn't want to do it. it's that business then. maybe it's tough. >> or maybe small businesses think that amazon is a bad guy. they don't want to share all of their data with a big competitor that could take out their business. >> i assume this is where he'll have to answer questions about can he do everything that he's doing. >> yeah. i think the twitter third quarter made those questions harder to answer. twitter had come out with a bl

black rock shutting down the global macro hedge fund because of losses in investor redemptions.year. its assets at all into under $1 billion. that's have fallen to under $1 billion. let's head back to the markets desk where julie hyman is looking at market reaction to those fed minutes. julie: not seeing an enormous amount of reaction on the equity side, for sure. stocks rising to their highs of the session. that big of paying a leg up. hereaw a bit of a leg up and hovering near the highs of the day. the commentary in the fed minutes maybe has something for everyone. some of the fed members dissenting, some reiterating once again that we are likely to see an increase in december. we have had more and more market participants pushing for that increase. if you look at what's going on in the bottom market today, we have seen yields push higher. holding steady here. same situation with the tenure here. -- 10 year here. they are now unchanged as the dollar has been on the move as well, up word. it has now come down to little changed. it happened before the minutes came out. , we are

black rock ishares that's $2.7 billion under management. that is far below vanguard. so kugt the fees will likely bring in more assets and make up for the lower fees overall. and the important thing here is those people want more assets under management. by the way, total market means the whole stock market, not just the s&p 500, but small caps and mid caps go in there, too. so you're literally buying into the entire market. very popular wave right now, other than the s&p 500 this is the second most popular way to own the u.s. stocks. tyler, back to you. >> as you and i know, the fees really do matter to your ultimate total return. at that level, it's so small. didn't even know that. thank you. news alert. in the bond market, can your notes up for auction setting near new highs? rick santelli tracking the action at the cme. boy, has that ten-year yield riz ne -- risen in the past month. >> it certainly has. the winner is five year which on the first dave the fed meeting last time was around 136. it is currently at 1$170. the yield is 2.304. the offer was 2.305. we gav

at least the owner of the property, black rock, these are entirely expected suits. now moments ago, i checked with the alameda county district attorney office on their parallel criminal investigation. it was ongoing. they conducted destructive testing of the balcony. but the evidence is still being analyzed as we speak. these civil suits again up the ante against the owner and the contractor involved in the construction of the balcony. >> and henry, what about the young people who were injured? are more lawsuits likely? >> i believe they involve the victims injured. we had six dead and seven to eight others suffering major injuries. not too long ago. the president of ireland came to berkeley to express his thanks for all the personnel and the police and par medics who offered their response to the tragedy. >> so what happens next? >> it will take a long time for the litigation to wrap up. >> thank you henry. >>> home invasion suspects picked the wrong house to break into earlier this week. what happened when they came face to face with the people living inside there

the property owner black rock investments and the builders of the library garden apartments cut corners during construction and ignored warning signs. six college students died and seven others were seriously injured when the balcony gave way. all-starny county prosecutors have not decided whether there will be criminal charges. >>> oakland mayor libby schaaf is back from her meeting with nfl owners in new york city and she she is hopeful she can find a way to keep the raiders from moving to los angeles for a second time. paul chambers says they are afraid the team is slipping away. >> reporter: san leandro is the place to find die hard raid ruffians so we decided to come here to ask them about the statement saying she is foed about keeping a team in town. for the raiders sitting in second place. it gives fans a lot to cheer about. loren piper has been a season ticketholder since 1963. he attended a press conference where libby schaaf gave an update on the fight to keep the raiders. >> we need to sit down more with the team. we need to come with some specific dollar amounts. >> reporter

his job is to make money for black rock and he does it. and i will tell you that these etf -- the whole cut, not just etfs, the whole system is a precipice to some extent. >> let me go back to activism and i will take you out tv and put it on bill acman. there are activists that are right and wrong. and bill has had great success at certain times but herbalife has turned out thus far not to be the same success and if you look at jcpenney you could see real damage that took place. do you worry about making the wrong decision yourself? >> yeah, i think we all make wrong decisions, however, i think in a certain way, over the years, i learned this. that if you where conservative and have capital, that is why i frankly got out of the hedge fund business. i did it for a while and actually, i was a good guy. i got been i got paid for being ethical because in '08 when everybody wanted money i didn't have to give it to them, because i had three year money so i did it. so i sort of made a deal with people. and i bought them out. it is one of the wes

robo advisor and set up putting 60% in two vanguard or into an index etf from, say, lack rock -- black rockortfolio creation is the easy part. anyone could come up with that. than that.ch more we give you holistic financial advice. we take into account your social security benefits, pensions, we tell you how much to save in your roth ira versus a traditional one. how much to put into your 401(k). we look into your bank account. if there is an axis, it will sweep it automatically into investing. we have over $3 billion under management now. erik: by the end of next year, you expect what? jon: let's say three times a week have now. thank you. jon stein is the ceo of betterment, a robo-advising firm. we will be back here with former defense secretary william:. -- william cohen. ♪ erik: welcome to bloomberg markets. ♪ from bloomberg world headquarters in downtown manhattan, good morning. here is what we are watching this hour. accomplices of terrorism, that is what vladimir putin calls turkey after they shut down the shot down a plane -- after they shot down a plane. a meeting of the lines on i

we'll discuss that with black rock's head of global strategy russ koesterich. >>> after friday's attack, many turned to facebook to make sure their family and friends were safe. at the same time, there was a backlash online with some of facebook's choices. live in l.a. with that story, julia. >> that's right, john, facebo facebook's safety check feature within the first 24 hours after the attack, notifying 365 million people that their friends were safe. facebook did drop backlash for not offering the safety feature after other ait was including suicide bombings in beirut just the day before. the paris attack was the first time they implemented this feature for a manmade incident rather than a natural disaster. facebook responded by saying it will change its policy around safety check, saying we want this tool to be available. twitter also played a useful role. paris residents used the hash tag to offer those stranded a place to stay. twitter saw a flood of updates about the attack. about 10 million on saturday according to topsy but there was some criticism that twitter allowed people

get hits and some of those hedge fund managers have closed their funds and we saw the news from black rockthers. that at a time when the fed is finally going to go back to normalcy that they are closing their funds? >> i think that could be a very real sign that maybe the macro environment is about to get a lot better and it will be the return of the macro trend. betty: maybe a contrarian indicator. >> absolutely, when you look at how bad macro has done over the last five or six years, post-crisis, it's a very difficult thing for those managers to grapple with central banks interfering in markets. throwing and the taliban at kvitova signal that things are about to turn at the same time sanction -- now they are throwing in the towel and that could be a sign that things are about to turn. betty: thank you so much. to the markets and the ipo markets. opened at $11.20 and is much higher right now. the ipo was priced at nine dollars per share. 13 dollarsrading at $.33 coming your the top end of the range. let's go to emily chang it was on the floor of the nyse with the square founder, jack dors

black rocks cash management unit will manage assets for bank of america clients.al will give separate in town -- give separate accounts -- bring their business to of assets. terms of the deal were not disclosed. jpmorgan will pay to settle charges in california. the bank use illegal methods to collect debts from credit card holders. half of the fines will go back to customers. a bank says it will change practices that regulators say are legal in california. more business get news at bloomberg.com. now it is time to get you caught up on the action around the world. let's start in asia. was closed today but indexes around the region were up. -- indexee that the was up almost 1%. region isory of the that asian stocks had the first gain in six days. asia-pacific equity industries got there first gain in six days following the gain overnight on the s&p 500. technet was closed for a national holiday and korean bonds fell. the bank of korea will not undertake rate cuts again this year. financial directives this year announced a -- of job cuts. the shares were lowered as

to bring in heidi richardson with black rock.g at a story charlie evans saying, when we raise interest rates, we have to tell the market that it is going to be gradual. do you get the sense that fed officials are watching what is going on and know there are a lot of jitters? heidi: right. i think most are anticipating a rise in december. betty: how come we have not priced this in? heidi: when we look at what happened with nonfarm payrolls, it really changed the game in thinking the fed was going to raise in december. the market is selling off today but there are winners and losers in every market environment, and i think if the fed does raise interest rates, cyclical areas of the marketplace are poised to gain. itty: thinking about tech, believe we have a chart showing one tech etf and how it outperformed the s&p, double returns. heidi: this is just the earnings release. the s&p was up about 4%. betty: why is that? in a higher interest rate environment, why is that? heidi: in the technology sector, those areas are flush with cash

in fact, black rock flag to chart the david wilson noticed.g at the price-earnings ratio of the s&p 500, a 10 year chart. we are looking at your highest level since 2010. about 18.8 earnings. they are offering a word of caution saying we will not continue to see multiples expand at this pace, particularly as the fed does begin raising rates. he is getting a little cautious revaluations that these levels. it looks like that's not a widely shared, at least, not a few judgment the rally we've seen over the past couple of days. david: thank you -- scarlet: thank you, julie hyman. joining us from san francisco is russ cost ridge. tell us about how this is finally dovetailing with the caution you see in the bond market. russ: we've seen a lot of this rally off the october lows. it's driven by multiple expansion. it has been a change in fundamentals. the good news is it can continue a while longer, as we see the european central bank adds to their own qe programs. if you are looking out six months, 12 month come a couple of years, you need to see ear

russ koesterich will join us from black rock. we will talk to him about the greater structure.out glencore with the commodity weakness is below one pence. that is, below one. we will come back on that. good morning. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. guy: you are watching , guyeillance" with myself johnson, and tom keene in the arcade you're looking at greekes in athens where unions have called a general strike, a 24 hour strike. a lot of sound and. . the real action is where mario draghi is talking about the greek banks. he said they are in the process of raising private funds. the cavity shortfalls are being addressed -- the capital shortfalls ar

the worst commodities selloff in a generation may not end for a while according to black rock.orld's's largest money manager protects the market is heading lower and the demand is weakening especially in commodities intensive economies like china. now for us to provide context in the background in topics of interest. today's black that -- topic is black friday. the biggest shopping day of the year in the u.s.. the entire weekend accounts for 10 or 15% of all holiday sales. appeal forack friday consumers who would rather shop at a few swipes and clicks. retailers are pulling out all the stops. they may be too late because more than half of consumers say they are relying less on black friday to make holiday purchases. retail sales over thanksgiving fell about 11% even as overall spending from november to december increased. background, no one can pinpoint how the day got its name. it is the myth that it is the day retailers turn profitable for the year. most are in the black long before the first friday of november. over the years, black friday has been earlier with stores openin

rock. >> we're counting him as full black? can someone google the rock and figure out what he is?cist characters are what people fear and they will make these people as the bad guys. >> and what do americans feel more than ever right now? a mexican border jumper! >> mexico! mexico! yeah! here we go! hey! i'm going to take your job! i'm going to take your job! i'm going to take your job! >> why is it that wrestling doesn't have to be politically correct? >> because it's like a movie. professional wrestling has been the longest running episodic television in television history, being african-american was a gimmick. >> what do you think as characters such as virgil back in the day when he used to be the slave to the million-dollar man? >> that was racist. nobody seemed to say anything then. >> it's the world's soap opera. let's talk about virgil real quick. >> all right. do you think i should be afraid of him? >> there is something you should be afraid of. >> what? losing your wallet. he'll go in your wallet and take all your money out of it. >> come on. take my hand! by being the he

lovers of all breeds last night, and i was so happy to be able to emcee this first- time gala at the black rock country club in hingham. 200 people were there to raise money for the scituate animal shelter and what an event it was. it was a huge success, raising around $50,000 for all of our furry friend and it was such a great night and everybody did their part so thank you for that. 6:26 right now. >>> president obama heads overseas. ahead this morning, his tough words for the paris attackers. oh no... (under his breath) hey man! (unenthusiastic) oh... ha ha ha! joanne? is that you? you don't look a day over r jingle jingle. if you're peter pan, you stay young forever. it's what you do. if you want to save fifteen percent or more on car insurance, you switch to geico. you make me feel so young... it's what you do. you make me feel >> announcer: from the channel 4 studios in boston, this is wbz this morning. it is 6:30 on this sunday morning, november 15. i'm kerry connolly along with pamela gardner >>> we have plenty of sunshine to wrap up the weekend. plenty of weekend yet. for us, it's kind

just off 422 upper providence there's a vehicle fire along black rock road trap road watch for fire crews worcester township it watching for an accident whitehall road beam road no problems this morning on pennsylvania turn pike if you head to willow grove park mall no issues 611 there's a crash in abington township along mill road southbound side morton road and this is scene bellmar camden country 42 creek road no delays and nothing like that to worry about still a little fog in this neck of the woods. eva. >> all right. thanks, matt, sky6hd tag a live look now at the ben franklin bridge. meteorologist david murphy is outside with the accuweather forecast. hi, david. >> eva, wear off to a sunny start. there's some areas still experiencing fog. let's start you with temperatures. 44 not bad considering we have sun up in philadelphia with light whipped and we have had reports of pretty bad visibility around wilmington and philadelphia improving a bit. if you run into patchy areas of dense fog you slow it down. 66 this afternoon, though, mild, light wins and minimum of sun and clouds looks

executives from black rock to coca-cola talking about managing a mibusiness day to day and als planning for decades down the line or in ibm's case, the next century. their ceo just last week was dealt a fresh challenge in the form of an s.e.c. investigation into you how the company recognizes some revenue. here's how she responded to andrew ross sorkin on that question. >> we are very confident in our accounting and you'd expect this from a company like ours, 100 year, very well trusted, that we take everything through a process and we make very clear decision about when is it pie law and the right time you disclose and we're very consistent about that process. >> she also said a ceo regardless of gender needs to be able to take criticism well and have resilience. morgan stanley ceo james gorman said the company also needs to pay attention to what the company's stock is doing. gorman when asked about whether there was a talent war going on and whether morgan stanley was able to hire the most competent graduates, this is what gorman had to say. >> we dilute ourselves into thinking that t

ultimately the all blacks could lose the final in front of andrija mandi. a yearator rockblack nanned -- nelson mandela. a year later he took a year off from sport. when he came back he played at a lower level. eventually he scored eight tries in england taking the total to 15. health problems ended the career in 2002 after 63 gaps and 37 tries. lomu tried to return to sporting cardiff, a year after a kidney transplat. it was needed in 2011 and was awaiting a third. lomu faces the last part of his life winning the world cup. he may not have achieved that feet, but would be remembered as the sports superstar >>> let's move away from sport to bring you an update on the security situation in france. in is stefan, a french government spokesman. >> translation: europe has had the big debate, special session about this. and the article 47 of the european treaty has been evoked. he also noticed all the other expressions of support from other nations to france and, of course, france on the basis of that will be putting forward a number of proposals. depend of course, of course, on

his job is to make money for black rock and he does it. and i will tell you

bank of america money funds are being merged into black rocks offerings.ts over three inches $70 billion. walgreens is going to sell up to 1000 stores in the takeover of rite aid. the company says selling half of that could set aside regulators. walgreens is the biggest u.s. drug chain with 8100 stores. changing breakfast habits are catwalks. sales and revenue slumped in the third quarter. you can blame that on matt miller's new diet. more americans are grabbing their morning meal on the run. this is where we zero in on controversy, the future of inking. do millennials trust tanks? here to kick off the conversation is barbara byrne. old-school financial institutions seem to have lost the trust of the millennial generation by way of quite demonstratively screwing their parents through the financial collapse, during the most emotional time in these now adults, but at that time kids, days. it is not that they hate the banks, they just don't trust them. erik: with a different point of view, here is the ceo of wells fargo. >> the human interaction is still crit

global investment strategist at black rock, we are headed lower.commodity intensive economies like china. china, china, china, china or that is why we have seen the soft. china. you have to listen to the donald trump clip of him saying it over and over again. a huge driver of the demand for oil,r and cement, crude for timber, for everything, was china, back when the economy was upstairs a bleak growing north of 12 -- north of 12%. now, we would kill for a 6% gdp in the united states but one billion plus people, that is a huge demand. australia, if china has a cold, australia has pneumonia. othershave had pimco and actually bottom down. it is interesting to see the investors figure out when to get back in and start buying. jason: take a look at all the major firms forecast for commodity prices and stock, look a year later, they are adorable and hilarious. stephanie: that is a laugh a minute. i love to read that to get my giggle on. what else is suffering besides oil? retail. much: i do not know how you do shopping with credit cards, but this is from

but also looking at how mutual funds like black rock and others that had bought into some of these in the private market are valuing these things whether they're holding them on the books at the private valuation or whether they can do everything else. >> we'll get to united health care which warned the dow component. united health care is a dow component because they change them so quickly. >> who writes these things? do you think it's like -- >> one person. >> one person. >> u.s. stocks rally on signs that the fed now thinks the economy is strong enough for a rate increase. now that is, okay -- >> good news is good news. >> but we look for a reason every time to explain something that we don't understand. that's a new one. >> have to say that watching the market action yesterday i was doing the same thing. wait a second. >> as if the fed would know. >> the confusion has been all along that the fed is saying we don't know and the market is saying what do they know that we don't know. >> they have now because they were worried that they didn't telegraph it enough last time, they have

was hit by vandals and that sign is not there right now because someone cut out the word black on tuesday. the rock spring congressional church on little falls road is near worktown high school and students expressed outrage on social media and according to arl now the church held a series of discussions about race and religion. >> wild wings can bring waves up to 20 feet high around lake michigan today. people in the western part of the state are being warned to stay away from the beaches there. grand haven pier here in grand rapids is being shut down as a precaution tonight? freight ship traffic can be shut down and the big gusts could also bring problems off the lake. fallen trees could cause big power outages. that big storm system brought us rain today and get ready, folks, for some howling winds and they'll pick up here, too. what can we count on? >> we'll see the winds begin to ramp up as we make our way into the next couple of hours and right now a very nice and a very mild, if not warm evening and we'll show you what we're dealing with here and the storm team 4 radar, showing that you have