the afl-cio is throwing its support behind tom wolf. he's challenging tom corbett in the november election. the pennsylvania afl-cio represents about 800,000 union workers. the most recent poll by quinnipiac shows wolf 20 points ahead of corbett. that poll conducted between may 29th and june 2nd. >>> next on nbc 10 news at 6:00, we're watching for the threat of rain as we look live at citizens bank park. earlier we said the phillies was be playing tonight. of course they already beat the padres earlier today. glenn "hurricane" schwartz, can we beat the weather forecast? >> yes, the forecast for the weekend lately. we're ending the week. i'm tracking the chance for more storms tomorrow plus what to expect for father's day in your nbc 10 first alert forecast. >>> a massive dirt pile next to this bridge might have led it to tilt. we'll let you know other bridges that have big stuff next to them. we'll see if pennsylvania and new jersey have similar issues. >>> nbc 10 first alert weather tracking the flood threat tonight. a flash flood watc

welcome to the afl-cio. as you know, this disease. a booksignings and irrelevant offers so they get a chance to hear from non-and also a chance to talk with them. i am really excited today and it is really my pleasure to introduce my friend and a longtime friend of the labor movement, richard ravitch. he is here to discuss, "so much to do." that title is definitely an understatement when it comes to his career. dick his life in public service has been intertwined with the labor movement since the name teen 50s. some of you here don't remember the 50s. i barely do i can tell you. but i think that it's just because i'm old right now is starting to lose my memory. i'm going to leave most of its ahead to tell you some stories. but i can't resist mentioning a couple of moments in dick's life to give you a sense of the type of life that this man has led. dick has been involved in progressive politics since before most of us were on. in college, working for adlai stevens and right after the civil war [laughter] and during that campaign, he t

taking them to $15, the afl/cio and other unions, the service employees union among others are lockede $15 and they want part of that for dues. this is the first effort in organizing what is now 6 1/2% unionization in our total work force. >> they don't get the $15. >> they will in the first round. >> by the way, in the first round. >> the state of washington already has the highest state minimum wage. the combo meal. it's under attack. >> i'm hungry. >> a super sized amount of your taxpayer money the government says it needs to get americans to eat healthier. >> put ketchup on that, dude. ugh. heartburn. did someone say burn? try alka seltzer reliefchews. they work just as fast and are proven to taste better than tums smoothies assorted fruit. mmm. amazing. yeah, i get that a lot. alka seltzer heartburn reliefchews. enjoy the relief. our cheese is going thin in a big way. with our ultra thin slices, you can now enjoy the same natural sargento cheese you love, at just 45 calories a slice. the same cheddar, swiss and provolone. just thinner and just 45 calories a slice. it's safe to sa

ubs named a new cio.alking to him about his investment strategy right after the break. >> welcome back. >> it is a quarter past seven in london. >> you bs has appointed a new ceo -- ubs has appointed a new haefele. congratulations on your new role. what does the error bring for from thedoes it differ alex friedman hera? he was known for building up the investment era. when you change anything, do you need to? >> this is a natural transition. alex and i have been investing together for 20 years and i joined ubs with him. there is big shoes to fill. i am looking forward to it. what we see is more of an evolution. we have built up strong level process and now we have invested heavily in regional process. investing in apac, and the emerging markets, and alternative assets which is an increasing focus for our clients. we are keeping things the same. we are drilling down to a more granular level in regions where our clients are experiencing growth. >> what do you make of the investment climate at the moment, ho

what's the first step they should take -- >> talk to your cio. make sure that your cio has a credible plan for dealing with cyber threats, cyber risks. have a good to sense that the cio is investing your company's money well in the use of cybersecurity mitigation techniques. make sure that the staffing of the ceo office is done appropriately, thatst reporting up to your boards in a way that gives your boards good visibility regarding potential threats, and headache sure that there are good -- make sure that there are good connections between your cio offices and people this law enforcement. so that there are good, strong, credible sort of private/public links so that you've got good channels for receiving information that may be, that the government may be reffing. >> okay, so let's talk about another threat. we have a couple minutes before we get into question and answer with the cfos. the financial stability, so the consensus of a lot of economists who looked at the financial crisis as one of the main points of weaknesses in our financial syste

working with our cio partners. >> is it too big to solve? >> no, it's not too big. we've created something within the national archives this cap stone project which is one solution. that takes advantage of existing technologies. the biggest problem over time and this is in the paper environment as well as the electronic environment whenever you have a human being in the middle of it making decisions is, then have you problems. and of our focus has been on getting the human being out of the process and relying on technology to capture the information ha we need to capture. >> my last question, what can we do? you know, i can be see us sitting here it, i probably won't be here but in five years, ten years from now, sitting here going through the same situation. what can can we do as members of congress during our watch to help address this issue? i mean, you said people. we've got to have a people. we capital have the, let everybody go. so what do we do? >> we have the directive, and we're moving ahead. we have the support of the administration for this and we have th

is the afl/cio organizing? >> yes, traditionally it's been a none union industry. it's starting from a place where you don't have a lot of unionization, and it's in states where the level of union indication is low to begin with. and so yes some of the unions are looking at this. the labor's union is looking at this. they do represent some of the workers involved in the construction aspects of going in and setting up the wells, but they're not involved at this point in time in the actual extraction and service. >> director of the occupational safety and health with the afl/cio. thank you. >> a 26-year-old jailed in egypt, and his family says his health is getting worse. and how india is hoping new public toilets will prevent deadly attacks on women. i think that al jazeera helps connect people in a way they haven't been connected before. it's a new approach to journalism. this is an opportunity for americans to learn something. we need to know what's going on around the world. we need to know what's going on in our back yard and i think al jazeera does just that. >

he's dan chung, ceo and cio and portfolio mention at fred alger, with $21 billion in assets. mr. chung, welcome. you see what we see, and that is a pretty nice environment for stock investing? >> i do. the steady economy, slow but steady a a great environment, as bob mckenna just said -- there's one area of volatility, which is the bond market. the government bond market was very volatile, i this i it's been a gift handed to bond investors this year and they recovered some of the dramatic losses they had last year between 8% and 20%. i think it's time to get out of bonds and back into equities. >> i want to get to a couple of your picks, what is the average holding period for a stock in your typical portfolio? >> would you have run a variety of strategies, so it's different to say the average is that meaningful, but it varies anywhere from i would say the long end three years and the shorter end nine months. >> all right. so if i want a stock. if i want to look at an area that you see value in today for a nine-month for three-year time period, give me a couple examples of where y

that compounded the issue and then you had coast cio and pimco ceo leaving in january.th a couple of other departures that made a lot of investors skittish and it's almost a perfect storm for that fund right now. >> gerri: it's interesting because i think bill gross undermine some of his own efforts with his comments which were a little loopp. all kinds of crazy things. what's going on over there? can they write this ship? >> i think they can. i do think it's a bit of a different ship than it used to be especially outside of the building itself. the invested committee has a different flavor and looks different than it used to. got a lot of focus on bottom up fundamental investment now with the six new deputy cio's. i think that's the reason they brought palma cole back to add balance and bring back someone with a lot of experience and make it look like it's stable. i will say i don't think bill gross has changed that much. i think the circumstances change around him and i think he reacted to be not the best, but it is what it is. gerri: is a fella who came back as you w

mcmillan from the north carolina afl-cio. tell us why you wrote that piece and what you're trying to get done here. >> thank you for having me. union members and workers from around the state were in raleigh today to protest a long list of injustices and to say to our legislature that no matter what kind of rules they invent, they cannot silence us and they cannot hide from the truth we speak. it's wrong to pay workers poverty wages and then limit our right to bargain for any more. it's wrong to ignore the cries of the vulnerable and then rub salt in their wounds by cutting medicaid and unemployment benefits. it's wrong and it's completely unnecessary. you see, we don't believe the koch brother fearmonger eswho say, we can't pay workers more because it will cost jobs, we can't take care of those in need because it will cost too much. we will not listen to those who say we can't when we know we can. we live in the richest country in the world. corporate profits are at their highest level in 85 years. we can afford to pay worke

>> so our cio travis fox is going to introduce the item, and then turn over to carol from the mtc to complete the item. >> good afternoon, mr. fox. >> good afternoon. one moment, i'm just looking for the file. maybe you can load it and you can start speaking. >> somebody should start speaking. [laughter ] do you want to speak? >> i can sing a song. [laughter ] [laughter ] >> good afternoon i promise i will not sing a song to you as roberta would today. [laughter ] . you would not want to hear that, chairman nolan and members of the board, director reiskin, travis fox, chief information officer for the sfmta and i'm here with carol from mtc. to provide a brief update on the regional update for clipper 2. director reiskin will provide the perspective as well and first i wanted to share a couple of thoughts on where we are today for the agency. so at this point in time clipper has been in full operation on muni for nearly four yearsed. currently clipper tags constitute nearly half of usage across the bay area and within the muni system, nearly half of all muni boards aring are associate

-cio started the conversation by asking about the difference between. the point i want to get across is that it makes a big difference of the stories you tell in a way economic theory is storytelling you can't tell any story it has to be kind of consistent with what we observe out there but still it's a story and the type of stories you tell impact the type of policies you have and the political discussion you have and that's what serious about the new keynesians because they occupy the space that should be a more vibrant real keynesianism which is a different story about how market economies work keynes basically said that capitalist economies work pretty well but they occasionally have big ups and that's when you need certain types of policies that will get you to full employment and they won't get the full employment by themselves and that's what we're seeing now a new tell a different story firstly say that the problem is to do with this rigidity issue and then they also say that we actually do eventually go back to full employment and if you'd aske

-cio started a conversation with him by asking about the difference between economics and new keynesian economics here's what he had to. the point i want to get across is that it makes a big difference in the stories you tell in a way economic theory is storytelling you can't tell any story it has to be kind of consistent with what we observe out there but still it's a story and the type of stories you tell impact the type of policies you have and the political discussion you have and that's what serious about the new keynesians because they occupy the space that should be a more vibrant real keynesianism which is a different story about how market economies work basically said that. pretty well but they occasionally have big ups and that's when you need certain types of policies that will get you to full employment and they won't get the full employment by themselves and that's what we're seeing. tell a different story firstly say that the problem is to do with this rigidity issue and then they also say that we actually do eventually go back to full employment and if you'd asked them f

-cio and started a conversation with him by asking about the difference between keynesian economics and new keynesian economics here's what he had to say. the point i want to get across is that it makes a big difference of the stories you tell in a way economic theory is storytelling you can't tell any story it has to be kind of consistent with what we observe out there but still it's a story and the type of stories you tell impact the type of policies you have and the political discussion you have and that's what serious about the new keynesians because they occupy the space that should be a more vibrant real keynesianism which is a different story about how market economies work basically said that capitalist economies work pretty well but they occasionally have big. cops and that's when you need certain types of policies that will get you to full employment and they won't get the full employment by themselves and that's what we're seeing now a new can tell a different story firstly say that the problem is to do with this rigidity issue and then they also say that we actually do event

for more on top market themes, let's bring in mark thomas a global cio at ubs wealth management. mark, a warm welcome. start by asking some of the m&a activity we have seen. we are outlining the latest tussle for ahlstrom. are you investing around this theme of m&a? indicative. there is so much cash on corporate balance sheets in the united states. we have been overweight in anticipation that if confidence comes back equities are going to rise. m&a shows corporate confidence is returning. at the numberrmed of governments getting involved? governmentserned around the world have so much to say when it comes to m&a right now? >> it makes things complicated, but i think we all realize being able to regulate new regulatory environments is just part of the landscape we have now. >> doesn't matter to you what drives the m&a? if it's driven by a search for growth or by trying to avoid paying too much tax? does that matter to you as an investor? >> those are companies at an level.ual company the fact is none of this him in a is going to happen unless they seek better future prospects. las

-cio and started the conversation with him by asking about the difference between. economics and new keynesian economics here's what he had to. the point i want to get across is that it makes a big difference in the stories you tell in a way economic theory is storytelling you can't tell any story it has to be kind of consistent with what we observe out there but still it's a story and the type of stories you tell impact the type of policies you have and the political discussion you have and that's what serious about the new keynesians because they occupy the space that should be a more vibrant real keynesianism which is a different story about how market economies work basically said that. pretty well but they occasionally have big ups and that's when you need certain types of policies that will get you to full employment and they won't get the full employment by themselves and that's what we're seeing. tell a different story firstly say that the problem is to do with this rigidity issue and then they also say that we actually do eventually go back to full employme

-cio and started the conversation with him by asking about the difference between economics and new keynesian economics here's what he had to. the point i want to get across is that it makes a big difference in the stories you tell in a way economic theory is storytelling you can't tell any story it has to be kind of consistent with what we observe out there but still it's a story and the type of stories you tell impact the type of policies you have and the political discussion you have and that's what serious about the new keynesians because they occupy the space that should be a more vibrant real keynesianism which is a different story about how market economies work basically said that. pretty well but they occasionally have big ups and that's when you need certain types of policies that will get you to full employment and they won't get the full employment by themselves and that's what we're seeing. tell a different story firstly say that the problem is to do with this rigidity issue and then they also say that we actually do eventually go back to full employment if you ask them for five

there was a lot more definition about what you were supposed to as a cio or cfo.mpanies do not have coo's. is often really a tandem that goes to offset things the ceo does not want to focus on or needs help on. i had a beautiful partnership . we were a great pair. >> ben has written about being wary of shares and other investors said they will not invest in startups if you have a coo. do you think companies should avoid creating that position? >> it depends on the size you are and where you are and, frankly, most aol jobs that are so big that having a trusted lieutenant to do a lot of the things they are not excited about doing is something that works well or maybe stronger and brought more of technology pieces and operational pieces to ebay. it was important that we had carved out roles and communicated well. coo is in general need to have a low ego. if you have a really high need, that can lead to issues. >> the cost is working on bringing in new talent, he is the new head of product. how do you find good people to fill those very important roles? t is much -- >

order to do y that you go back and you really ask within the best practices whether or not for your cio to meet the requirement of the national archives having access to the kind of information, the wealth of information they need, working with the national archives you could do it for a reasonable price. mr. worse for it was correct, i've been a big believer that in fact maintaining for the american people the transparency not just what's mr. cummings and i are doing here tonight but for the next generation and generations beyond as much information as we possibly can as an obligation. earlier mr. desjarlais -- desjarlais essentially doing arithmetic looked at that printout and later turned over to the national archives paper. i strongly suggest that this committee and hugh, you for your agency in this committee for all of the government really take a look at how much less expensive it is to maintain it digitally too delivered digitally so that it can be machine searchable for the next generation and in fact be of benefit to all of us. lastly i'm going to guess that out of the $111 per

this is an afl-cio union leader. in other words, lots of pain for minimal gain. the president's energy regulations would hurt the poor, the unemployed, seniors, and especially families in kentucky. kentucky coal sector employment has collapsed by 7,000 jobs since president obama took office. eastern kentucky saw just a 3% reduction in coal jobs in the first quarter of 2014 -- 3% reduction in the first quarter of this year. at least three additional kentuckians lose their paychecks indirectly for every mining job that's lost. as one coal leader noted, the administration's proposed regulations would only add to the economic challenges facing kentucky, especially in eastern kentucky, which is ground zero for what's happening in coal country. the coal country protection act is cosponsored by several senators, including senator rand paul, and is supported by the kentucky coal association. it would require that simple but important benchmarks be met before the president's new rules could take effect. number one, the secretary of labor would have to certify that the reg

afl-cio's president saying we need reform now. media mogul rupert murdoch, reform can't wait. joining us from washington, d.c. and all way from par irss kale bayie hutchison. she'll be joining us in just a second. tamar, great to see you there. i think everyone agrees we do need reform, but we have a crisis on our hands. how do we deal with it now? >> yeah, we've been trying to get reform for ten years and all of a sudden comes this crisis at the same time that the house of representatives is in complete turmoil because of eric dannors's defeat, in pat, not largely, not even mostly, in part because of immigration, so you have a stewing mix of factors. we've got to do something about these people arriving on the border. it probably can't be 60,000 -- i think the estimate are up to 80,000. we can't say 80,000 people show up and we just let them in no questions asked. we have to have a system that actually works, where we decide who we're going to let in. we have to do something about these people right now. there's children, there's parents, we have to at least house them, make

impact it has on their life whether it's obamacare, whether it's the chamber of commerce and the afl-cio pushing amnesty. it is amnesty until we secure the border it's amnesty. they are tired of being pushed around and bullied by mitch mcconnell and others who rub their noses in it. we'll crush you. when he says tea party, the tea party is bigger than any particular tea party group. the tea party is americans who rose up and gave john bone terrify speakership and then to be talked to that way. you know, the analysis has been so wrong the last several months. i looked at boehner's numbers. boehner got 69% in the republican primary against a 30-year-old adjunct prove swhor had $100,000. that's a disaster showing for a man who has been there for 24 hours. i look at mcconnell. the republican leader in the senate been elected five, six times. he got 60% against a citizen candidate that's never run for office before? cornyn in texas ran against for our five candidates. he got 59%. folks keep bringing up lindsey graham. lindsey graham had six opponents who were fighting with each other. they co

. >>> and on the desk today, also joined by steve yacktman, oversees $30 billion as cio of yacktman asset management and we do begin with the markets and whether fed chair janet yellen just sparked the next leg of the rally for stocks. let's go right to the panel now. steve weiss, is that what happened yesterday? >> i think derchtly a -- derchtly a sidercht definitely a sigh of relief. if you look at it, back 2012, inflation running hotter for much longer a period of time. in just the last two months, where we've seen the uptick in it. right now a little cooperative with mario draghi and his plans have not come into full fruition. yes, i think the market's going to be fine here. however, what was interesting to me is that they -- they brought faster, in other words, they said they were going to raise rates sooner than what the expectation had been, yet the market pushed that off. >> there was an expectation maybe after the cpi was surprising that the tone would be a little more hawkish. it wasn't. and what happens here is what we've seen before. people have expected her at times to be a l

you'd have a lot of friends in the cio and records management community if this gets passed. >> right. i heard you say earlier that the federal records act requires print and save. >> i misspoke. that language is actually not in the law but that is the guidance that many agencies are following. >> based on that law, some guidance was issued that says for now, print and save. i assume the reason for that guidance is because with antiquated systems, we don't want to take the risk of backup that could crash? >> actually, the guidance came before electronic mail was even -- >> so we haven't even updated? >> that's right. that's right. the guidance issue is -- precedes the i.t. problem. >> lord almighty. >> which is why it is very important. >> by the way, why not use the cloud? why not move to the cloud? do you have security concerns with respect to the cloud? such that we shouldn't do that as an alternative to pay for backup? >> we are using the cloud in the national archives. >> okay. we heard from him last night that he was a little concerned about security. i understand that concern.

impact it has on their life whether it's obamacare, whether it's the chamber of commerce and the afl-cio pushing amnesty. it is amnesty until we secure the border it's amnesty. they are tired of being pushed around and bullied by mitch mcconnell and others who rub their noses in it. we'll crush you. when he says tea party, the tea party is particular tea party group. the tea party is americans who rose up and gave john bone terrify speakership and then to be talked to that way. you know, the analysis has been so wrong the last several months. i looked at boehner's numbers. boehner got 69% in the republican primary against a 30-year-old adjunct prove swhor had $100,000. that's a disaster showing for a man who has been there for 24 hours. i look at mcconnell. the republican leader in the senate been elected five, six times. he got 60% against a citizen candidate that's never run for office before? cornyn in texas ran against for our five candidates. he got 59%. folks keep bringing up lindsey graham. lindsey graham had six opponents who were fighting with each other. they couldn't get behin

as ceo of procter & gamble,cío&b oversaw more than 2,000 employees with operations over the world, sellingoducts in more than 1le 0 countries, more than two million stores, reaching five billion customers. in other words, he knows the key to any successful enterprise is staying focused on the people you're trying to serve. he is renowned for his operational excellence. he started his career out in the field and worked his way up, serving at virtually every level 0 of procter & gamble. he understoods the grand plans are not enough. what matters is the operations you put in place, and getting the job done. bob is an expert in making organizations better. in his career he has taken over struggling business units. he knows how to roll up his sleeves and gets to work. putting an end to what doesn't work, adopting best practices that do, restructures, introducing innovations, making operations more effective inch short, he isps7bj3vv about delig better results. he also knows the importance of bill what he calls a high performance team, putting the right people in the right jobs, rewarding them w

mark kiesel, pimco's deputy cio and managing director.he good stuff first. closing bell ringing in five minutes. investors, you should with watching tomorrow's jobs report for the month of may to give us an indication of the health of the economy, but one of the parts of the economy that's growing by leaps and bounds could actually be the very reason job creation is slowing. we'll explain that coming right up. don't move, "after the bell" is just five minutes away on a big rally moment. ♪ ♪ passion... became your business. at&t can help simplify how you manage it. so you can focus on what you love most. when everyone and everything works together, business just sings. who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ so the magic shell went back to being a...shell get live squawks right in your trading p

. >> and they hired a new cio on june 10th to literally try to soften those blows from the past few months officers onboard as of june 10th, and this happened a few days later. melissa: what could they do to turn it around here? it feels like they're in freefall, but at the same time it's a great store, but they're doing real damage. >> they really need to have the customers feel secure, but i think it's going to take time because two blows in such a short period of time is a lot to come back from. even though it's only five states, it's still a feeling, and they could pay cash. it's going to take time to rebuild that trust again. >> it's the sense that you go into target, you may find stuff that you like, but you're going to get hacked, you can't use your credit card, you can't pay -- >> they're pushing the loyalty programs, but at some point there's only one answer here, and the answer is to cut prices in order to get shoppers in the door. not great news for shareholders. melissa: no, it's not, because target had special, cool stuff make you feel like cheap was chic but not necessarily c

he is the president and cio.ng in the broader 2000 index. i'll get to jay first. >> okay. liz: why go for the individual names now? does that mean that the broader index might still be a little in danger of pulling back once or twicesome. >> well, you have to think about what's in the index. if you look at the russell 2000, close to a third of it is companies that don't make any money. and at royce we really believe in buying companies that have really good returns on capital. and over time that's been a winning strategy for investors. liz: so you're saying why buy the whole pie when there are a couple of pieces that are -- >> absolutely. you should buy the good stuff. liz: but that takes a lot of energy and effort, doesn't it, to pick individual names. >> it really does, and that's what we do at royce and associates. if you think about it, the russell's gone straight up really since 2009, since the financial crisis. and what's really performed in the russell have been those companies that have had no earnings. a

joining us is pimco's cio bill gross. bill, before that, we've got to get your reaction to the ecb. what do you make of it? a good move? what's it going to do? what's the impact? it seems huge. i'm surprised there's not more reaction to it. >> well, it is big, brian. i mean, draghi promised us a few years ago he would do whatever it takes, and that. as that, you know, the eurozone and euroland is in the midst of a minor deflation or a near deflati deflation. and so draghi is doing things that are rather extraordinary. you know, making sure that banks get a negative interest rate when they lend to their central bank, minus ten basis points. there's actually not too many hundreds of billions of dollars that go there. you know, it's significant in terms of its shock value. secondly, though, and perhaps most importantly, they devised this program, a $500 billion program, would banks can borrow at 25 basis points for four years. you know, from the ecb. you know, if they promise to buy bank loans and asset-backed securities. and so this is the big one. you know, it basically lowers intere

impact it has on their life whether it's obamacare, whether it's the chamber of commerce and the afl-cioushing amnesty. it is amnesty until we secure the border it's amnesty. they are tired of being pushed around and bullied by mitch mcconnell and others who rub their noses in it. we'll crush you. when he says tea party, the tea party is bigger than any particular tea party group. the tea party is americans who rose up and gave john bone terrify speakership and then to be talked to that way. you know, the analysis has been so wrong the last several months. i looked at boehner's numbers. boehner got 69% in the republican primary against a 30-year-old adjunct prove swhor had $100,000. that's a disaster showing for a man who has been there for 24 hours. i look at mcconnell. the republican leader in the senate been elected five, six times. he got 60% against a citizen candidate that's never run for office before? cornyn in texas ran against for our five candidates. he got 59%. folks keep bringing up lindsey graham. lindsey graham had six opponents who were fighting with each other. they coul

-cio need to. stop them all but i would also liberals there's conservative billionaires liberal corporations conservative corporations unions stop them all i tend to err on the side of free speech always this is not a free speech as is going to hold on let me get there though i think that all of it when their homes decision even that crowded fire in a crowded theater i think that was nonsense that's how far i go that being said we've seen the consequences of when you know just a few donors can donate to just a few politicians i think that you know you talk to people who work on capitol hill politicians are spending the vast majority of their time every waking second essentially that they have on their cell phones calling donors the fund raising culture is kind of out of control things that i mean i really do think you have to amend the constitution for this i think i have never seen a convincing argument that money is not speech so i think if you want to it's covered by the first amendment right no

that's put the weeks likely events in perspective with the cio alan hagans. thanks for coming in so early. , how do youou sit see the world? you are cautiously optimistic on .lobal growth >> there is global growth. there has been a huge rally in bonds. there has been a bonfire. >> is that telling us growth is not as strong as we thought it was? wax to a certain extent. in the eurozone the zero rate structure is going to be there for a long time. yes, growth isn't as strong. so many investors are caught on the wrong side of it. end of last year the big consensus was you avoid bonds and be underweight. we have suffered by not having as much. we bought certain portfolios. bought hundred year mexico. those long dated bonds, long dated credit is probably underinvested in. a hedge against equities. >> 100 years. that is a lot of visibility or a long life expectancy. the i intend to wake up and see my bonds mature. >> of all the things you will think about when you go to sleep and wake up. >> i haven't seen that for many years. what is to tell us bonds won't outperf

ian shepardson cio virginie maisonneuve.e low rates actually help the housing market in new -- in any way? >> i think will be less plausible over the second half. we are seeing some emerging inflation pressure. we have some clear evidence of margin building. we have costs offsetting in the business sector. we have a clear and present danger of accelerating wages. i think markets are going to become less and less convinced that the fed can hold rates. long-term interest rates and mortgage rates are going to rise again. >> we have some economic data coming up next week. you don't have a lot of faith in the numbers. >> it is hilarious. that is joe. -- joke. every other indicator says the market is slow down drastically. we had the biggest deterioration in housing affordability in more than 30 years. that is why we saw a big drop in home sales. it is taken the wind out of the pricing numbers as well. it makes no sense. >> let's adjusted for inflation. let's call it the real home price aaron this is in today's dollars. inare way

here with me now is the cio, frank. welcome to "the pulse."s like a great idea. >> several years ago, the government of india wanted to bring financial inclusion to more people. there are 650,000 villages in india and only about 500 have bank branches. if you want to get people involved in the financial system, an atm is a natural tool to do that. unfortunately, the buyer meant is in-house -- the environment is inhospitable. power goes out very frequently. there is an average of 100 power outages a week. almost a third of the time, there is no electricity. what we did was come up with a power supply and architecture that allows the atm to run on battery power. it can run off the grid. >> these are standalone atm's/ . >> this can be standalone in a remote village. the technology is designed to overcome the lack of infrastructure. >> how does it compare to 's, how much do you sell them for? what are the margins like? >> it is a very competitive unit in terms of price. the indian market, cost is about everything. we would apply 55,000 to 75,000 a

and enjoy support from groups that don't often work together, from industry to labor, from the afl-cio to the u.s. chamber of commerce and the nationals association of manufacturers. there are several strong bipartisan bills that show the way forward, but we don't seem to be able to get them to the floor, to get them approved and to get them moving forward. right now, the truth is that the debate on this floor comes nowhere close to matching the reality of the scope of the problems in front of us. we have an enormous infrastructure debt, as i mentioned earlier. by one estimate, by 2020, in just the next six years, our nation needs $3.6 trillion of new investment. this is to fix, to maintain, to upgrade our roads, bridges, rail, transit, drinking water, ports, sewers, waste water treatment and beyond. this is an enormous debt. unpaid and for which we currently have no path forward. i know many of us who serve on the budget committee who pay attention to the balance sheet of our country are concerned about our structural national debt, but i wanted to take a minute today on a day when ev

swaths of our economy and could thread a loss of nearly a half a million jobs according to one afl-cio labor union estimate. in fact, the head fed that union, united mine workers of america, said this energy tax would lead to long-term and irreversible job losses. the national energy tax would also ship middle-class jobs overseas, shatter our manufacturing base, and drive up energy costs for families. it's a dagger aimed right at the heart of the american middle class. at a time when our constituents are already struggling under the weight of so many of this administration's other failed policies. so let's not forget, opportunity has already decreased for too many families under this president's watch. millions of our friends and neighbors are still out of work, and the economy is at a standstill. and this is president obama's plan? to squeeze the middle class even harder and ship american jobs overseas and to do it by going around congress? it's clear that the president is trying to impose this national energy tax via executive order because he knows the representatives of the people

bill o'neal, head of cio wealth management research uk at ubs. >> and, yeah, we've got more to come, right? >> yeah. more boe to come and we will have live coverage of the bank of england's financial stability report at 111:30 cet. helia is on the drowned, of course. >>> now, it's a genius idea, online dating site match.com is treatmenting up with the group whose members all have high i.q.s, mensa. only users who reach mensa's requirements who test in the 98th percentile can sign up. if you're not a mesa member, you can take a test through july 6th. >> have you tried the mesa test? >> i have not, no. my former master when i was a youth wrote on my report card that jegarajah can excel from the superb to the abysmal. my father wasn't too pleased about that. >> that's called hedging. >> this is true. >> do you believe that smart has to date equally smart? >> i don't know. isn't it about true love, louisa? >> you're absolutely right. you totally hit the nail on the head. >> so many have been struggling with that question. >> but they also say sometimes you love being with somebody really