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we will tell you which one. >>> carl icahn, leaving the big apple, heading to florida. another example of the rich fleeing high tax states in droves and of course, taking their money with them. in icahn's case, $17 billion. "varney & company" just getting started. ney should always be working harder. that's why your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. of the value you'll find at fidelity. all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. that's where i feel normal. having an annuity tells me my retirement is protected. learn more at retire your risk dot org. stuart: ah, those europeans, they really want to be r

back when carl icahn was becoming his billionaire.t's where the people were, you did not have the high-speed internet, he had to do a lot of things face-to-face. i used to do the show from washington, d.c. because that's where the studio was, i could do this for my own house. i kept thinking why don't have to be in new york city, why should i pay the high taxes just for the convenience of being there. you'll find more and more people moving from those areas into the florida's, texas, because the technology makes it okay and the tax is the cherry on the top. >> we have seen this before, first of all there's no disputing that many people will flee a high-tech syria for lower tax area. but these places with concentration of industries that have something special going on like new york, california, entertainment, technology and for god sake the tomato growing industry are not leaving california no matter what the taxes are and it would be silly if we did not point out an 83-year-old man who is lived in new york his entire life is moving t

all i'm saying is if carl icahn wants to move, carl icahn should move.estion is, what is the pinch happening to middle class voters across new york state, new jersey, connecticut and other states -- >> there is a pinch. >> but the tax money, it's minia meaningful numbers but are democrats talking about too many tax increases for regular, everyday hard-working new yorkers and americans? neil: to m so extesome extent, get a lot more bang for your buck -- >> which is why there should be some comfort to hear joe biden say that doesn't all add up. we said on this show last time -- neil: did he actually say that? >> he did. neil: i had trouble understanding. >> he did, early on. >> i agree. the thing, it's a little long. these debates are a little long. there's still a lot of people onstage. you can't touch on six, seven topics over two, two and a half hours. you will lose people. biden, the first 20 minutes, he helped the country understand that there's a different message in the democratic party and give this party still some time to get its act right. neil:

carl icahn is apparently making that move from new york down to florida.from new york, this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. i'm david westin. famed investor carl icahn is an reportedly removing his -- is reportedly moving his home and business from new york to florida, taking his income tax from 8.8% down to zero. herewith as is our deals reporter. a great he's on the bloomberg about this. 8.8% down to zero, but even more than that, the 8.8% is not deductible. >> the big thing for him is, he is getting the boost not only on a personal level, but also for his icahn enterprises as well. the corporate tax rate is a percentage point lower. david: florida has not been shy about coming north and florida y about coming north and coming -- getting people to come down there. >> they were pretty aggressive in corning high worth that in the -- high net worth individuals to move down there with these tax breaks. they set a limit in 2017 on how much local and state tax could be collected on income and also things about real es

billionaire carl icahn is headed to the sunshine state.-old will move to avoid new york's higher taxes and join fellow wall street migrants like pepper and paul in the state, 1-7 with no personal income tax. francine? francine: thanks so much. officials are worrying boris johnson could persuade johnson to veto a brexit delay and could help the prime minister out of his bind and create the risk of a no design brexit. parliament will try to stop him to allow london to crash in the e.u. our executive editor. a simple but hard question, is what we know about boris johnson actually wanting a deal or a no deal exit? >> it's hard to be inside boris johnson's brain. it's hard and depends on who you talk to. there's been mood music around the possibility of a deal. > the d.e.p. softening the red line and a island only arrangement might unlock a teal and possibly a reaction to the markets. as well the question about hungary is very if interesting. there's been a story with this brexit president and when you think one option is off the table it comes

. >>> straight ahead on "closing bell," carl icahn becoming the latest billionreai investor to flee a that story , next what a time to be alive. the world is customized to you. built for you. so why isn't it all about you, when it comes to your money? so. what's on your mind? we are edward jones, a 97-year-old firm built for right now. with one financial advisor per office, we're all about knowing what's important to you the one who matters. edward jones. it's time for investing to feel individual. (classical music playing throughout) ♪ liberty mutual customizes your car insurance, hmm. exactly. so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ >>> billionaire investor carl icahn is leaving new york and heading south. robert frank has more on that. robert >> more sunshine, less taxes, what's not to like carl icahn says he's moving to miami next year for the warmer weather and slower pace. but taxes may also be a factor florida has no income tax o

carl icahn is moving both his home and business. is one of several states without a federal income taxed -- without an income tax. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm the vienna or tonto. this is blue -- i'm viviana hurtado. this is bloomberg. david: coming up, a poet versus the estate of notorious b. -- .i.g. to check the charts and interact with us directly, go to gtv on your terminal. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." hour, up in the next rufus yerxa, national foreign trade council president. now to your bloomberg business flash. the board of the london stock exchange group unanimously rejected the $36.6 billion offer from the hong kong exchange. lse saying the bid had fundamental flaws. they are working on a $27 billion acquisition of data provider with -- with data provider refinitiv. forever 21 is wog on a deal to get $27 million for restructuring. forever 21 operates more than 800 stores i

carl icahn said it's the weather.urn 60, you mover to florida >>> web security company made its debut this morning after a rough day, investors are relieved the stock was down almost 30% yesterday. it's backed by about 11% today >>> juul is going up in smoke, folks. the valuation is coming down sharply as sources say it's value on the secondary market has dropped as much as 20% this is an industry that is under siege at federal level, state level, local level >> it happened very quickly in response to what was a dramatic worsening of public health what does it mean for that deal? >>> a rocket sales for key wine dropped 5% it's causing companies like constellation brands to sell their wine portfolios in other words to dump their sour grapes. >> sour grapes i wonder what it is. i wonder whether people are drinking more spirits. >> hard seltzer. it's been popular. talk about the cannibas. it has to be a combination of things >>> home is where the heart it and might be where the money is too. why home improvement stocks h

now they have gotten really new taxpayer carl icahn bringing his business.ds of people voting with their feet away from high-taxed states are going to intensify now that the subsidy of high-taxed states has been eliminated. it is a great thing in tax competition where states compete on equal playing field. let's end a subsidy to the high-taxed states. david: if i would be paying a lot less taxes unfortunately fox business is here in new york. we love new york. it is just we don't love the high taxes here. good to see you, jonathan. thank you very much for being here. >>> coming up next we talk to veteran college football college coach tommy tuberville running for senate in alabama. remember coached at auburn. he had a terrific record there. will he have problems supporting him if they're from the university of alabama. >>> renter protections, affordable housing that only costs $2.5 trillion. we have details on that coming up. ♪ at fidelity, we believe your money should always be working harder. that's why your cash automatically goes into a money market fund

and carl icahn's statements about he wishes there were more, there won't be more.ime where basically -- he was very unique in that he combined these two paragon types, the wild cater, which in the days of the wild cat are kind of over and that early generation of acknowledge at a timer of corporate board rooms. this is a time in the '70s and '80s where you have these outsiders thinking more and getting lean very much a maverick personality. i thiching itnk it's ironic eveo now is embracing him as n elder statesman and back then zblrchlts. >> good memories of t. boone pickens from all sorts today up next, we'll discuss much more on the breaking oracle news this hour shares are down 4% in after-hours trade. closing bell will be right back. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. so servic

carl icahn by the way is relocating.t talking point holds. >> i think at same time. how is warren paying for healthcare bill, we never ask for is this tax cut paid for. >> it isn't. >> that is it. trish: wait. we have record revenues. >> record deficits. >> on credit cards. >> 3 trillion, we brought in more money in taxes, i do agree we need to cut spending. >> balance the budget. trish: yes. i was impressed by that, where i come from, state law, you have to plan balance the budget. >> economy right now is like christmas morning, you buy presences for kids, january 1st comes and bills. trish: how is warren healthcare plan going too contribute to help it. >> it will make this worse, with the green new deal which may be worse. trish: you know, like nobody really understands math. i am not going to pin it on the democrats, they do lack an understanding in math. but the republicans are bad too, we're spend more than we can handle. >> i am a traditional centrist, democrat who believes you pay for what you buy. that you have t

it's a similar situation that ebay faced about five years ago when carl icahn was pressuring the zen break up paypal. now we have a promising up-and-coming company that they want to spin off like they did with paypal. it's just a breakup let's left over. taylor: what are the activists pushing for in terms of breaking up the company? how can they unlock value? spencer: they've have had pressure to sell stub hub and other businesses, a local marketplace like craigslist or the startup. it they want to break up the pieces and when there has been resistance to that, there could be synergies. stub hub, we sell sports memorabilia and band memorabilia and if someone is getting a concert ticket or a sporting event ticket on ebay, it will spill over and buy the t-shirt. this never really materialized. it's been the same story since the paypal split. there hasn't been much growth. amazon is leaving it further and further in the dust. taylor: what can the interim ceo do that the previous didn't? spencer: it's hard to find a bigger champion for ebay. he took efforts to rebrand it, shed its image

there was a similar situation ebay faced when carl icahn was pressuring steve donahoe to break up ebay paypal. now we have further pressure, but this time we don't have a promising up and coming company that they want to spin off like they did with paypal. it was just to break up what leftover. taylor: what are the activists pushing for in terms of breaking up the company? how did they think they can unlock value? spencer: there has been pressure to sell stubhub and the classifieds business, like a local marketplace similar to craigslist. they want to further break up the pieces. winick has been resisted to that. stubhub is thinking, well, we sell sports memorabilia and band memorabilia. if somebody is selling a ticket on ebay, maybe they will spill over and by the t-shirt. but those synergies never materialized. it has been the same story for ebay since the paypal split. there has not been much growth. amazon is leaving it further and further in the test -- in the dust. taylor: what can the interim ceo do that the previous ceo was not able to do? spencer: it is hard to find a better c

carl icahn moving to florida. not just because of the weather.y any income tax. a lot of these states were smart, a lot of the municipalities are smart, they get the financial houses in order and they charge less tax. >> too that point, about the deduction, in 2016 averages $26000 in new york. we have to talk about new york because were in the area, that's a huge difference which is why you're seeing the big flock. there is still an ongoing case. yet the judge that ruled the 2018 case and there's another one created by newark, new jersey and maryland, maybe they will get momentum with that. if you like the judge does not think it's going against -- >> what possible case do they have? there is no constitutional righ- >> it went against the sovereign right. and that's white was unconstitutional. >> they don't like it because it's pressure to fix it. new hampshire, in our state constitution, you have to balance the budget every year. when it be nice, new york city could try something like that. bill de blasio. all were trying to do, i think it's som

carl icahn is leaving new york for florida to avoid higher taxes.as learned he is moving his home and his business. florida is one of several states without a personal income tax. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am courtney donohoe. this is bloomberg. vonnie: thank you. time for our stock of the hour. shares of broadcom are falling. the worst performer in the stox. this is after the company reported third-quarter results mostly in line with expectations. taylor riggs has more. taylor: mostly coming in line with expectations. there was not anything worse the company could have said. that is what analysts are hanging on to. the company did say they think chip demand has bottomed out. they are not seeing a reseller ration of growth that they were hoping for. you can see that when we take a look at earnings-per-share growth. it does look like we just reported the third-quarter earnings. it could be bottoming out in the fourth quarter. you're looking at

another one flying the coop, sources say that carl icahn is moving hedge fund to florida he is the latesta long line who have fled high tax states like new york, new jersey and connecticut for income tax free florida. and it is not just the power players that catch my attention, it is the mom and pops who are doing this every day i hate hearing these stories. >> and i was up in connecticut a couple weeks ago and the amount of for sale signs -- i mean dom sees it every day. >> tom is like thanks a lot. >> but you go around these neighborhoods and everyone other house has a for sale sign in front of it. connecticut of course is a big home for hedge funds >> and what is interesting about that observation, there are certain jurisdictions town-wise in connecticut that do not allow you to put up a for sale sign. including the town that i live in so you have to go through a -- you have to look it up it is a way for them to say you don't see for sale signs everywhere because you are not allowed to have them up. so probably understating even how many houses are for sale >> and you have to applaud

a similar situation that -- it's a similar situation that ebay faced about five years ago when carl icahnessuring the then ceo to break up paypal. now, we don't have a promising up-and-coming company that they want to spin off like they did with paypal. it's more just to break up what's left over. taylor: what are the activists pushing for in terms of breaking up the company? how do they think they can unlock value? spencer: there's been pressure to sell their ticket market, a local marketplace similar to a craigslist type thing or the start up, offer up. they are there could be synergies. they are resistant to that arguing there could be synergies. stubhub, for example, they say we sell sports memorabilia and band memorabilia, and if someone is getting a concert ticket or a sporting event ticket on ebay, maybe they will spill over and buy a t-shirt, but those synergies never materialized, and it's been the same story for ebay since the paypal split. there hasn't been much growth. amazon is leaving it further and further in the dust. taylor: what can the interim ceo do that the previous c

carl icahn moving his hedge fund from here in new york city to miami saying he would enjoy the warmernd pace, slow down a little bit. that is a report from "the new york post." a lot of people reading that maybe a bid to lower the tax burden like some others. steve forbes joins us, chairman of forbes media. are you next on this steve, moving down full time to florida from new york? a lot of people are thinking about it obviously. >> actually doing it. certainly in my neighborhood, home state of new jersey, a lot of people have done it. i haven't done it yet, why every financial advisor i talked to, examine your head you shouldn't live in this state because of high taxes. several years ago, hedge fund manager moved down to florida. blew 140 million-dollar hole in new jersey's budget. democrats spun it he wanted to be close to his mother. i'm sure he did and liked the extra 140 million he saved. connell: he loved his mom. i'm reading through, flashing numbers on the screen, reading through announcements, wonder how much you can save until you were talking about as well. high earners i r

. >> we're thinking about carl icahn making news.ut of new york heading to florida. we have seen the exodus continue for the really the last decade now. whether it is connecticut, new york businesses are just done. how bad is this going to get for the new york market? >> you know there was some estimate that said roughly 300,000 people are leaving new york to go to florida. and part of that is the new tax law we know that's a factor. but it is also weather. i mean, people want a easier climate, and so people are moving to a place where they feel more kivel and so i think that that's a choice for everybody to make. >> doesn't that mean that lawmaker as here in this state, connecticut, new mexico have to reevaluate taxation in general. >> we want people to stay in new york it is a wonderful place to live but affordable for people. >> well we see, of course, that the fed does this week and get a big decision on interest rates and we have with got that housing that are coming out thank you for a preview of all of that. sk thank you for h

i bought this on the show when carl icahn had filed on it, originally about a 10% position. now he's up to 18 and change and has two members of his team on the board. i wasn't focused on earnings if they missed again which they've become serial missers on to the old ceo, that his interests would support the company. right now they're looking for a new ceo. my bet is they don't find one that instead carl forces the sale of the company. i doubled my position yesterday so i'm staying with it sometimes you get lucky. >> taking everybody out to eat after the show is over let's switch gears lululemon reporting tonight after the close. pete >> a name i've loved for a year and a half, almost two years they had the same story line the pe has gotten get better and better and better the higher it's gone. they're growing internationally, growing in men's and e-commerce, the digital side when you look at the growth and martins are getting better, and they look that ford they're going to get even better because of that, i look at this name and i think all three continue to work you look a

with that said, this is ripe for a nelson pelts to get miss arms around or carl icahn type.d be a trophy for them in a major way. >> >> if you open the playbook -- there aren't businesses to. >> should they buy cannabis pb vape these guys are desperate. >> well, i'm just throwing it out there. wouldn't be spraysing let's put that way but i don't know what they would do. >> i'd be surprised. >> you'd be surprised. >> i would be. >> i would too. >> i don't know what you -- >> you are facing so many hurdles. >> find a name at a ridiculous discount. >> no easy fixes to declining tobacco business. >> that's fair. >> for more on the tobago dele breakdown look at the squawk interview tomorrow 9:00 a.m. eastern. coming up peloton set to price the ipo any moment this during the week where the ipo buzz has ground to a ahmat. check out the chip stock up more than 65% this year and options traders betting on theigr bge breakout ahead we tell you the name don't go anywhere. much more "fast money" after this you can find it in the vitamin aisle in stores everywhere. prevagen. healthier br

that carl icahn made a ton of money on. let's figure out a way to open that up, do some sort of diversified portfolio that allows them to get in this that we sort of, we have to change some rules. there's a lot of work to be done on this. this is like getting into the guts of securities laws, allowing small investors access to something they haven't been allowed access to. but if they do this, it's a big thing. from what i understand, we spoke with john coffey. he said the s.e.c. is talking about this. they are thinking of various ways to create a sort of fund vehicle that youan get involved in these private shares and if that happens, pretty big story. liz: charlie, thank you very much. on a busy day. we've got the big story of the fed but more importantly, what's moving and how can you make money in these last six minutes of trade? that's when the closing bell rings. as we look at the markets at the moment, we are joined by gibbs wealth management president erin gibbs, etf trends.com publisher global trends investment pre

billionaire carl icahn is heading to the sunshine state.year-old will move his home and business to florida to avoid new york's higher taxes. he will joan -- joint fellow wall street -- join follow wall street migrants to the state, which is one of several with no income tax. nejra: let's turn to trade and the trumpet ministration is considering offering china an interim deal that would delay and even rollback some u.s. tariffs. bloomberg has learned that in exchange, washington would like commitments on intellectual property and agricultural purchases from beijing. it comes as negotiators from both countries are set to me in the next few weeks for talks in washington. it is still under consideration and president trump is yet to sign off on it. president trump: it is something that people talk about. i would rather get the whole deal done. we have taken in many many billions of dollars of tariffs. i would rather get the entire chinese deal done. nejra: a possible deal has been moving markets, as trade optimism offsets the steps taken by th

florida is 8.1% but you have no income tax and you've got the estate tax is also -- that's why carl icahns whole fortune. he's saving hundreds of billions of dollars, you're talking about serious money by leaving new york. >> this is like the trump tax bill which people were worried about the limitation on writing off your state and local taxes, but the good news of that, even though that caused trauma, there's rewarding state that have -- maria: maybe push high-taxed states to change policy. dagen: that's not what's going to happen. again, people down in florida can brag about there being, oh, there's no state income tax and i said when alex said that i said not yet because again all the liberals, big-money liberals are moving down to florida. andrew by the lum got very close to being elected, the governor of that state and so, again, that's what happens, you're importing the people from the blue states, so the blue states get redder and the red states get bluer. >> dagen, great point. maria: didn't that happen in texas n dallas, you're talking about dallas being purple right now. dagen:

to learn more go to pcf.org >>> cnbc has confirmed reports that carl icahn is moving his hedge fund toida to avoid new york's higher taxes he will close his offices in new york in white plains on march 31st and open the next day in florida. sources tell cnbc that employees of the hedge fund will be offered $50,000 in moving expenses those who decide not to move will be paid until march of 2020 sources say more than half of the staff is going andrew, if we -- >> invite me. >> i'm going to miss -- he's got that great office. >> right >> if we could move us -- >> yes. >> -- not about taxes but just about the miami lifestyle. >> right. >> we want to have our guests on city set. >> we like them on set. >> we could do remotes >> you know my view? in the winter we could be in florida for a couple months. >> you want to be a snow bird? >> i would want to do the show from colorado or utah maybe on fridays for skiing purposes. >> okay. >> and then maybe in the summers -- >> never mind. sounds like a bad idea. >> andrew f we do this, can we -- if we are going both places would you mind if just fo

the left, congressman, what are you seeing in terms of people moving to florida, this week we had carl icahnthe left are only going get worse in terms of -- if elizabeth warren gets in or bernie sanders raise taxes. >> a thousand people of day move to florida, we don't have income tax in florida and that's why a lot of people up north that move not just weather but political climate and florida is great place not just retire but start your business and to reside, so you'll continue to see people move here and i think we pick up a couple of congressional seats because of all the people moving to florida. maria: good to see you. dagen: they are liberal and they will vote blue. >> i don't know. maria: try to push for a different policy like what we are seeing a little in texas. >> not in my side of the state, the people moving to my side of the state are mid westerners that are conservative. maria: great, good to see you, thank you. maria: coming up in the market for new car, kelly blue book top pick coming up, kfc sweet and savory play, the new male -- meal might leave you speechless, coming b

. >>> shares of hertz as carl icahn increased his stake.n looking to make an acquisition and sources say yelp may be the target. groupon has been under pressure from activists investors urging the company to make changes. yelp up 6% >>> speaking of companies under activist pressure shares of at&t dipping on expectation of subscriber losses. julie boorstin has more. >> reporter: at&t shares trading down 1%. they were down as much as 2% earlier today this after at&t cfo warned about more declines in the company's video division projecting they will lose 1.3 million video subscribers in the third quarter. 300,000 more subscribers lost than in the second quarter he warned warner's media will decline. today warner media just nungsed an exclusive deal with j.j. abrams to produce new tv projects for all of its platforms including hbo max. now abrams will finish existing projects for paramount he has an upcoming "star wars" movie. but this is an exclusive deal. now this of course is just the latest in the land grab for top content creators >> you s

now carl icahn will likely be the richest man in florida, he is taking wealth and tax dollars to floridar warmer weather, slower pace, taxes probably played a role as well. new tax rules capping state and local tax deductions to $10,000, created new incentive for high earners to head to florida who has no income or estate taxes. more than 70 financial services firms moved to palm beach county alone in the past three years, and even before the latest tax changes, billionaire hedge funders all packed up from the northeast and headed south in 2017, 64,000 people moved from new york to florida that's roughly in keeping with the historical averages, but tax experts say the pace probably accelerated last year, could accelerate further in 2019 he converted his hedge fund into a family office in 2013, he has about 50 employees, half of whom are expected to also move. he has a home in indian creek village, an island, he bought that house in 1997 for $7.5 million the island has about 34 homes with private police force and neighbors, new neighbors include julio iglesias, former dolphins coach don c

>> he was there for about four years, took over for john donahoe, service now who fought off carl icahnbut split company into pay pal and ebay and the key marketplace has been doing -- they're not changing their -- they reaffirmed their full year guidance, guys organic growth, nongap eps growth of -- eps, says growth here, 270 to 275, check your -- >> in both these cases there is something commonal yit aalitycoy the ongoing review looks to be a stone wall of elliott. >> it has taken a long -- ebay has moved. moved at a glarbs pace >> glacial is rite do you know what it is called when a glacier falls >> caved off. >> elliott got caved >> they're coming back more to this >> ebay's stock -- >> don't let the door hit you on the way out. kind of thing? >> yes, it is. >> not an elegant retirement. >> like, when -- >> like when tom hagan was told to go back tom hagan was told to go back. >> i was thinking what a week it has been for the ceos of wework, ebay, juul, volkswagen, comp score and nissan that's just this week. >> volkswagen is the worst that was manipulation, they nailed those guys.

carl icahn is taking off for florida. it's not for the weather. neil: that's right. one thing i wanted to check with you. the other wrinkle for the uncertainty, if you're not quite sure what taxes are going to do, whether you are an individual or company, now as a company, you have the added excuse, if it is an excuse, the president says sometimes is overused, about this china stuff. you're not going to expand, you're not going to really boost your capital spending, you are probably not going to do a lot of hiring because you just don't know. i don't know whether that factors out to individuals who might not buy as much this holiday season because they don't know how all this is going to work out, but it is a cloud, is it not? >> it is, and you know, we have talked many times about how much business hates uncertainty. in my view, i would sort of proceed with any investments i was making right now, so i don't give my competitors a chance to gain extra leverage or to reduce some value enhancing growth potential i see, but there's no doubt that all of this stuff going o

. >> carl icahn.hat's right a lot of hedge funds, tax benefits, quality of life and the weather is impeccable, especially this time of year. >> you keep telling yourself as the weather rises above. i hope you laugh this interview out. >> come on. >> ed, you just are worried, i think. there's no reason -- there's barely any reason for you to stay long at this point. it's all about trade as well, right? >> well, i think the outlook is as clear as mud. we have a global economy that's very weak and vulnerable we have a u.s. economy that's resilient at this point. and keeping things in -- keeping our head above water, but they're a major cross currents in both directions and i think that raises both the upside and downside risks for financial markets. so yeah, we're sticking pretty close to the shore in terms of our positioning relative to policy benchmarks. >> i like that i never heard that you heard that before, will? >> they don't say it in london much at the moment. >> right no, but sticking close to s

favor of higher taxes at this point when you see what's happening in new york and new jersey now carl icahnin lorida. >> i'm a proud democrat but i don't think the answer is at all to actually raise taxes on charitable giving. i think that's a big mistake you'll disincentive advise people from giving you want to encourage and ensure that money actually gets to charities and goes out the door to help people, that's the purpose of giving, but if you make a decision in that year to give it to a foundation, right, to make a charitable contribution, we should encourage that in fact, we should celebrate that the idea that we would do anything to disincentive advise it is a huge mistake. >> i don't have a foundation for one reason i want my wife and i, we earned it, to decide where it's going i don't want to put it into a foundation where 50 years later somebody's giving something to a cause that i would not have any interest in or i might resent. but the bigger issue here to me is this. believe it or not, i have five years to earn enough money to write off -- when we make a big -- for example, wh

. >> this way we could get carl icahn on the set >> yeah. >> that's right. >> and tuper >> that's righte because elmo groped me on the way in futures are down -- >> i thought -- >> huh >> i thought you were going to say because we're paying the taxes. wow. >> and he was naked on top of -- >> stop talking. elmo's always naked. >> way too much information. >> dow jones is down 65. the s&p's down 5 1/2 and the nasdaq is down about three points. >> i can't continue. >> imagining elmo. >> i can prove we're in times square. >> elmo. >> that's horrifying for the viewer. >> that's horrifying for the viewer. >> treasury yield's 1 69d on the ten year. >> really not a laughing matter. >> no, it's not. >> he got in trouble >> very serious. >> he did. >> that elmo has been removed from the premises. >> do you know there are several elmos. >> how many elmo -- >> there's more than one elmo in times square. >> how many of them have been -- >> don't do that. >> here are some of the stories that we should be talking about today. half a million travelers are making new arrangements after the collapse of t

there was a brawl -- i would really point to it because if you read into the middle of it, after carl brawl icahnut. the people who were following him try to take the phone away, and now this has gotten quite serious. this eric prosecutors are involved. thehis eric prosecutors -- this auric prosecutors -- the zurich prosecutors are involved. does a top executive at a large global bank turn around and find himself being followed by his former employer? what kind of secret did he have or clients or coworkers that warranted the following? sonali: wealth managers are a lot like investment bankers. when they walk out the door, the clients tend to go with them. that could be hundreds of millions of dollars at a time. credit suisse and ubs are the hundred pound gorillas in the world of wealth management, and they are in the same country. they are really dominating global wealth, and starting october 1 at ubs -- alix: hysterical. i'm sure his clients must be enjoying it. coming up, all the ingredients to a dollar rally. if you are headed out, tune into bloomberg radio, heard across the u.s. on sirius xm

pete: someone like carl icahn has been an institution in this city.her florida or texas than ever before than we've seen this is a significant move because the taxes here in new york are strangling the rich and you're seeing all of these policies coming out of the democrats right now, that they just want to raise it, should they get into the white house in 2020. so yeah, you're going to see more of this. people moving from high-taxed states to lower-taxed states. ed: we'll see more of maria. >> we have a big show this morning. we have kevin mccarthy coming on, kevin mclien nan, acting homeland security secretary. we're talking about impact of saudi situation. what it means for the homeland. what will it mean post-9/11. the department of homeland security was created after september 11th, 18 years ago. we'll speak to him about that. kevin mccarthy head of the gop. representative mccarthy is in new york this morning. he will talk about the priorities for the party. he is one of the gang of eight. he is high-end in terms of security issues that this coun