i'm will wallace, a policy analyst for consumers union. d choices and stay save. today's hearing is timely given the news lately. the ignition switches linked to at least 174 deaths was very disappointing because it didn't nearly go far enough. right on its heels came the news that volkswagen had cheated on emissions control testing for some 11 million diesel vehicles and covered it up. these news items are sending shockwaves through the industry and the public and the government. lawmakers need to take action to address this corporate accountability crisis. the discussion draft and bill before you today attempt to address pieces of the problem. one, the improving recall tracking act aims to tackle low recall completion rates, while the other, the motor vehicle safety whistle blower act seeks to root out concealed deeffects. while we are glad that you are pursuing these, they fall far short. both in terms of meeting objectives and in the flawed system that safety defects are reported and corrected before people get hurt. the issues with toy

alicia of consumers union says the measure is intended to curb what she calls the rampant and reckless use of drugs. >> the reason they do this is to allow animals to live in crowded, filthy environments so they don't develop disease. >> reporter: public health officials along with sponsors say in the long run over use of antibiotics in animals have made them less effective in humans. >> this is a global problem when you look at the numbers. that's 23,000 deaths from antibiotic-resistant bacteria, there's nothing that could have been done. >> reporter: the measure requires farmers to obtain a veterinarian prescription before giving any animal drugs. it bans the use of antibiotics for feed efficiency or growth promotion and creates a first in the nation tracking system of antibiotic use. >> this gives us and other groups a tool where by we can go at companies and say look, you're using antibiotics improperly. >> reporter: so what exactly does it mean for people who eat california produced meat and chicken? well, she predicts it will have little to no effect on taste or cost though she s

george slofr is in the consumer's union, the public policy and advocacy division. he previously worked at the justice department's anti-trust division and at the house judiciary committee where he was later chief legislative counsel. he's an elected member of the american law institute and currently serves as cochair of the d.c. bar's anti-trust and consumer law section. he holds a jd from the university of texas law school and a master of public affirms from the lbj school. now i'd ask each of our witness to stand and be sworn. do you awe firm that the testimony you're about to give before the committee will be truth, the whole truth and nothing but the truth? thank you. okay. we'll now hear brief remarks from each of our witnesses. we'll start with mr. bertolini and head down this side until we get through mr. slofr. >> good morning, chairman lee, ranking member and members of the subcommittee. my name is mark bertolini. i am the 14th chairman and ceo of et ma. i thank you for having me here today to discuss our acquisition of humana. we are in a time of understa

slover's senior policy .ouncil at consumers union he previously worked at the justice department's antitrust division and at the house judiciary committee, where he was lead antitrust counsel, and later chief legislative council. he is on the advisory board of the american antitrust institute. he is an elected member of the american law institute, and cochair oferves as the d.c. trust and bar association. jd from the rest of texas law school and a masters of public affairs from the lbj school. i will now ask you to our ask eachs to stand -- of our witnesses to stand. you can from the testimony you are about to give will be the truth, the whole truth, and nothing but the truth? remarksnow hear from each of our witnesses. we will now start with mark bertolini. ni: my name is mark bertolini. i am the 14 chairman and ceo of founded in 1853 in hartford, connecticut. i thank you for having me here today to discuss our accusation .- acquisition of humana we are in a time of unprecedented change in our country when we look at health care. it is our view that it is time for change. payment reform is

it's opposed by the alliance for center of justice, the consumer federation of america, consumer union and this is a deeply flawed bill that addresses a nonexistent problem. we have this bill and a bill on abortion up. r ay's actions in congress first kill the lawyers. the other one, kill the doctors. congress knows the answer, we can tell the judges what they need to do because they aren't doing and we'll tell the judges what they need to do and tell the women what they need to do. bad bill. i reserve. the speaker pro tempore: the gentleman from tennessee reserves. the gentleman from virginia is recognized. mr. goodlatte: i yield myself one minute to say to the gentleman from tennessee that no judge has to find a frivolous lawsuit to be a frivolous lawsuit. they have that discretion in every case. once they find it to be a frivolous lawsuit, it is gin justice to not award attorneys' fees under rule 11 to those who are victims. what about the burden on the court? well, when the mandatory rule 11 sanction provision was in effect for almost 10 years between 1983 and 1993, the number of r

george flover is senior policy council in the washington office of consumers union. the public policy and advocacy division of consumer reports. he previously worked at the justice department's antitrust division, and at the house judiciary committee, where he was lead antitrust counsel and later chief legislative counsel on the advisory moved over the american antitruss institute, an elected member of the american law institute and co-chair of the dc bar's antitrust and consumer law section. holds a jd from the university of texas law school and a master of public affairs from the lbj school. now i'd ask each witness to stand and be sworn. [witnesses swornbreak] >> we'll now hear brief remarks from each witness. firstmer bertoline. >> good morning, chairman lee. rankbuchar and members of the sub exitee. i am the 14th chairman and ceo of aetna, which was founded in 1853 in hartford, connecticut. i the for having me here today to discuss our acquisition of humana. we are in a time of unprecedent it change in our country as we look out how health care is rendered. >>> h

above all, he must bring the automaker back on track and regain consumer trust. >> european union environmental activists have it criticizing emissions testing for years. they say procedures are laid down according to auto industry demands and say that the eu knows about it but has done nothing to change the status quo . earlier, i asked an analyst of the corporate euro observatory how much influence the car industry really has on eu regulators. >> i think we should definitely not underrate the influence of the car industry in brussels. volkswagen spent over $3 million on lobbying last euro loan. as your highlighted, the german industries, the german car manufacturers are amongst the biggest and most powerful. this leads to high-level meetings, high levels of access with commissioners and others, seats and influential advisory groups, and ultimately, having a hand in seeing what legislation passes. unfortunately for the public, the main intention, as we've seen, of these industries, is to attack, we can, watered-down environmental climate legislation, which is seen as unfortunately getting in t

credit unions are not-for-profit cooperatives that provide benefits to this country and consumers. edit unions do pay some taxes relative to payroll and other issues, but in terms of federal taxes we are tax event. -- tax exempt. host: from pennsylvania, this is wrong. -- ron. is, years question ago when i got my first mortgage i sat in front of a local bank. i was curious now, what a is that money, from the federal reserve or is it actually coming from depositors jacket -- from depositors? guest: i think i understand your question. as a credit union all of the money in the credit union does come from the members. moneyultimately members's that is being loadout. -- being loadout. out.aned host: when it comes to regulatory issues what you would like to -- what would you like to see change on capitol hill? guest: there are two different categories. there are laws and rules that we think need to be rolled back so that credit unions can survive, and i think there is the where thingsreas need to be changed so credit unions can really thrive. , i already areas mentioned davis security. --

our seven countries and the soviet union consumed several time and capital in the negotiations, and therefore they should exert their utmost protection to implement the agreement. we deem each party's

our seven countries and the soviet union consumed several time and capital in the negotiations, and therefore they should exert their utmost protection to implement the agreement. we deem each party's participation in the fundamental success is ofl -- success of the joint agreement. and we expect the u.n. to take necessary the commitment of the full nuclear disarmament. and furthermore, we expect them to play a positive role in the nuclear wep papweapons-free midt and not to let the zionist regime to be the only impediment to the regime. and plp, the victory over war statement has managed to disbers the clouds of hostile ti, and perhaps extensions of hostility from the east, and the new era should harold in a new era of sustainable peace and in the region. it is not a finaling a greemt, but it is a basis of the future achievements to come. the fact that the deal has set an objective basis for a model, it can set is a foundation. our policy is to continue the peace seeking efforts in the region based on the same win-win principle, and acting in a way that would deal to all in the region and th

union as a last resort asking them to help them financially. a market that exports $5.5 billion year, also a slump of red china. a change of savior in europe among european consumers. they are calling on the european union or help. anchor: iran's vice president has been speaking exclusively to us. we asked about iran's willingness to cooperate fighting the islamic state organization. until now there has been little cooperation official. >> i think that is to early to decide on the exact strategy that would take in every i think that iran has been white -- taken. i think that iran has been taking a role with countries in the region's. they are discussing in north africa, discussing issues of mutual interest. anchor: the full version of that interview on the france 24 website. turkey says six of its soldiers have been killed and exploded by kurdish rebels in the southeast. fighting resumed in july, shattering a 2.5 year old piece process. good evening to you, jasper. the government has been retaliating. jasper: there have been airstrikes on 23 pkk targets. these are antiaircraft positions. it does not say where, but presumably southeastern turkey and northern iraq.

consumer boycott of grapes. today the once strong united farm workers union has lost much of its power.kerman explains. >> reporter: pedro left mexico for california more than 30 years ago, but what he grows in his backyard still reminds him of his home. tending the same vineyards that sprouted a landmark in american labor history. ♪ >> reporter: lead by caesar chavez, filipino and hispanic farm workers walked off of their jobs in 1965 to demand better pay and health conditions from the growers. chavez's non-violent tactics gained him support through the first nationwide consumer boycott. but since chavez's death in 1993, alvarez and many others don't see the union offering them much help. >> translator: yes, the boss will pay a little more, but when you say it is not enough, he says well, you can go elsewhere. >> reporter: it is weakened by internal splits, competitions from rival unions, and a more hostile environment for organized labor across the u.s. >> workers are entitled to a 10-minute break every two hours paid for by the company; there will be additional shade, and cool drinki

consumers and more for trucks. railroads may also provide opportunities. union pacific is a name liked for the long term. >> the stock is trading at least a turn below its historical average. we know as it accelerates into 2016, there will be some realized value. plus union pacific has some interesting balance sheet. so we think the company is in a position for the buyback and give more money for shareholders. >> then the logistics provider has managed to buck the downward trend, up almost 5% in the past month. today it held its first ever since yesterday, saying it is considering acquisitions to boost growth. a big shift for a company that has never done them before. for "nightly business report." >> investors are scaling back on their exposure to stocks amid all the crazy volatility. according to a survey by the american association of individual investors, retail investors cut their equity allocations to a ten-month low of 65%. they're putting more money in cash, withholdings rising nearly 60%. also, bonds rose to more than 16%. >>> the nation's second larges

few to the many in ways that make it very easy for people to band together as consumers, as workers into democratic trade unions, as small taxpayer groups, and as communities who are being abandoned by corporations under government policy and tax benefits to send the jobs to fascist and communist regime abroad? >> compound and complex. all right. [applause and cheers] new york was home to 3 teams-- the giants, the dodgers, and the yankees. the giants and the dodgers were known as "the people's team." the yankees were the elitist team. what possessed you to be a yankees fan? [laughter] >> first of all, whenever you're a yankee fan and you're a little boy, you're a little boy forever. and i was a yankee fan right after lou gehrig died. and i learned a lot about stamina by knowing about lou gehrig. you know, his constant playing, his constant game attendance. he set a record until the baltimore orioles broke it, the player cal ripken broke it. and i grew up in the era of joe dimaggio and mickey mantle. and when steinbrenner came across, it sort of soured me. and i lost interest pretty much. but i'm still 10 years

maybe some pricing power at the consumer level is coming back, and its union pay indicator showed that this is a gauge of that this isards, stabilization in the all-important property purchases section, key for their economy. why is therecolm, such a difference between official data from the the gloomyand picture we have been pretrade in the market? the official figures and what we have seen from baidu and alibaba? malcolm: a lot of it is to do with these rebalancings. china, they in official data hasn't kept up with the changes sweeping across the economy. some of the old yardsticks focused on things that were more driven by industrial production. x, cargo and rail cargo, electricity used, that is showing very weak conditions in china. but then these services indicators like the official services pmi remain well above the expansion zone, suggesting those areas of the economy are helping offset the weakness we are seeing in the export, lowering manufacturing areas. francine: welcome, thank you so much. today'sngs us to twitter question -- are you less worried about china after the baid

union will revise the gdp figures for the euro zone on tuesday. the preliminary figures show 0.3% growth from the previous quarter. over in china, consumer prices for auths are due on thursday. the machinery orders for july will be out the same day. orders in june dropped 8%, the first decline in four months. >>> we ask for some insight on japan's figures due out out tuesday, she is the chief economist. >> the second quarter gdp is likely to be revised down from the minus 1. % of the nation to more than 2% growth. the major drivers of the division is coming from the corporate expenditure, i mean corporate investment. i think the japanese economy is now stalling at this moment because of the weaker expenditure or weaker business activity. but i think that it goes in the fourth quarter should be short lived. however, if you look at the weak inside in exports, they will rule out any chance that the export number is likely to mark negative growth consecutively from the second quarter this year. >> the big drag on business activity in japan is weakness in the chinese economy. >> i think that the chinese government and the authorities are now

and we have a five star medicare ating and we're one of the top in consumer reports so people identify unions it's a fallacy. host: was your hospital always represented by a union? caller: the organization is country.he t's in many states and in oregon when it was -- we started representation in '79 and the i worked at opened in '76. receive retirement benefits from your organization? aller: i receive a really decent pension, the old kind. and retiree e healthcare benefits. that ah, but i work for organization my whole career and out comes andient union safety by having members on every committee. in fact the ceo of every area or region or every state has a that works with them. management labor partnership. host: victoria, from oregon. stay tuned for the next segment coming up. we'll talk more about the state labor movement in the u.s. georgia.rom go ahead, you're on the air. doing, c-span. host: we're doing all right. phoned y'all not .oo long ago minimum wage in this country, raise it don't want to because the senate had that on the floor about 2 or 3 times and way.just said no that's why

will still cost consumers $150 per pill, but martin also told bloomberg his company will make sure people in need who can't afford it will get it for free in some cases. >>> european union leaders have voted on a plan to relocate 120,000 asylum seekers across all states. the plan likely will face push back from eastern european countries. thousands of people are still flooding the serbia, croatian border. they are trying to make it to germany after being shut out of hungary. jacky rowland has more. >> reporter: for the first thing that is significant is that the decision was not reached as a con census, that's really the way in which european union decision making is generally made, the idea that everyone will agree together. it was clear they were not going to get a consensus decision, so in the end they decided to go for majority vote. we understand that the countries that voted against it the proposals were the czech republic, slovakia, hungary, romania, and finland apparently abstained, but the other countries voted for it. the political implication of this clearly is yes, they have got this decision, however, on the other hand there will be more bitterness felt by

puts the consumer confidence level at ts lowest in a year the and on this side we saw the indexes in national league tevb territory. a few other stories we're watching for you, the european union competition regulators are flexing their muscles in the telecom sector. they have ened a bid to merge danish operations. the two operators threw in the towel as the regulators said the deal would hurt competition. investors saw it as a sign the commission is becoming more aggressive. and hermansen won't have to change the name of its $20,000 handbag. jane birkin has dropped her bid to remove her name from the -- bags. she took action after toegations of animal cruelty the al i gasors. -- nbc said it would stop airing miss universe after trump made controversial comments on mexicans at the start of his presidential bid. we're going to finish with a story of three french actors, two french first ladies and one darth vader. it's all the beginning of a bad joke. this story refers to a charity event organized on a trading floor here friday. for one day, the actors and three french first ladies went to bat. they pledged to give all the proceeds to charity. it was organized this friday to co

union. they can drive up its price. but that higher price gets passed on to consumers. and the higher wages, consumers pay for it. pause consumers are paying higher prices. b, they are selling goods and services. and the economic research is fairly conclusive that you might have gains on the inside of the union. so the claim you are lowering average wages is is dissident to my ears as a labor columnist. on top of that, union membership has been not doing the best. union membership is down fairly consistently. so they don't even have that many labor markets where they have a monopoly. how do you find these states with right to work laws. and generally a decline in union membership have wages. the next two slides i'm going to credit adam wozniak. this is not just the change in union membership in 1979 but just 1979 union membership. which lo and behold it seems like the states with largest membership since the 70s were the states with the largest membership in the 70s. they have the lowest wage. that doesn't necessarily fit in. so why would states with higher union membership have lower wage growth? it turns out th

consumers are getting safe and affordable foods. >> so farmers can return to their fields feeling this is not a wasted journey. but other problems, like the russian embar go on food produced in the european union will not be resolved so quickly. jacky rowland, al jazeera, brussels. >> chad's former president hissene habre has been returned to court. for charges he says are politically motivated. >>> confessed to being involved in last month's bangkok bombing, detained at the time thai border. bomb exploded at a hin duz hinde cilgd several. met in the border village of pan moon jam. make arrangements concerning how many people if any will be able to meet their relatives. >> the state did not sever sacred family ties. i came here in a sincere hope that the south korean red dross telttells the north korean red cross. >> harry fawcett is in the city and sent this report. >> talks underway north korea and south korea making good at least in the pledges that brought to end the tensions between north and south a couple of weeks ago. it is questionable whether they will make good on the plan at the end of september, which will coincide to the harvest festival. however, it is very much the intention th

consumers and promote innovation. >> clinton's tilt to the left by cracking down on pharmaceutical companies and tweaking the tax on generous health plans unions oppose the partly an effort to lock down the democratic nomination as buzz continues to build for vice president joe biden who was urged to jump in by a key part of the obama coalition when he spoke to a conference of historically black colleges and universities. with the possibility of biden getting in, today politico reported two unions have decided to hold back on unexpected endorsements of clinton including the service employees international union plus the top public employee union. meanwhile democratic socialist senator bernie sanders greeted capital workers. clinton got a boost when carpenters and joiners of america backed her expanding her lead over sanders among union endorsements. late today more pressure over the e mail controversy as a federal judge ordered them to upload by next friday all e-mails of the clinton aides so they can be searched to comply with the lawsuit by david basi of citizenings united. >> it was a great victory. >> sanders tweaked clinton by saying as a

consumers are to return once the dust from the vw scandal settles. fallout is spreading to other german carmakers. shares of bmw fell thursday, following a newspaper report that warned at its diesel models exceeded european unionmissions norms. bmw said they did not manipulate or rigged tests. shares were down thursday, but they later clawed back some of the losses to close 5% down. shares ended the after first going into positive territory at the start of trading. this is how the european markets overall finished up this thursday, with automobile shares taking a hit on the back of the vw scandal. we also saw a resources shares trading lower in europe. this is the picture in the united states, as there are just 35 minutes to go left in trading the session. the dow jones, nasdaq, and s&p 500 in negative territory. we are seeing shares and catapult, the heavy equipment maker, among the laggards -- shares of caterpillar, the heavy equipment maker, saying they will cut jobs after the heavy apartment market is reportedly gloomy, signs that the economy is slowing. if you other stories, the french labor market is softening. the number of job seekers in france has risen to a fresh record high. nearly 3.6 million peopl

consumer protection agency. while supporting a positive business climate in the state. my agency's responsible for regulating banks, credit unions, mortgage lenders and other nonano non-depository programs. and oregon osha as well as statewide construction standards. as of 90 days ago. after a brief transitional period, the department assumed responsibility for oregon's state-based health care marketplace. i appreciate the opportunity to be here today and to talk about the health care services in oregon and my agency's plans going forward. you have my written statement, so i will briefly summarize with three points. first, oregon's marketplace is successful. nearly 70,000 oregonians enrolled in coverage during open enrollment for 2014, despite needing to navigate a hybrid paper and automated system. using healthcare.gov that number rose. the rate in uninsured in oregon declined from 14% to under 9%. oregon's health insurance marketplace is healthy, competitive and sustainable. for 2016, 11 companies will offer oregonens 120 various plans at various coverage levels. we're in the process of rebalancing the market to ensure its lon

consumers are getting safe and affordable food. >> farmers went away feeling this was not a wasted journey. yet food produced in the european union not be resolved so quickly. jacky rowland, al jazeera, brussels. >> we will be reporting in just a moment about the palestinian mother died of her injuries after her 18 month old son was burned in an arson attack. >>> we have the television comedian who has made his way through to the next round in the guatemalan elections. and who won't be on hand for the rugby world cup. >>> 1,000 soldiers from qatar and more than 200 armed vehicles have arrived in yemen to join saudi coalition to fight against houthi rebels. >>> turkey says its jets have bombed kurdish group, the armed group pkk said it killed 15 soldiers in fallujah on sunday. recep tayyip erdogan he says there will be a response. >> translator: the information from our chief of general staff is very sad thing. i hope with the statement and new strategy will be adopted in the fight against terror we'll continue to fight against terror with determination. >> syria city of duma has always been seen as a bastion of opposition, agains

consumer boycott. millions of americans stopped buying grapes and even some wine brands, but since chavez's death in 1983, they don't see the union offering them of help. >> when he tells us it's not enough to live on, he says you can go elsewhere. >> in power and membership, ceasar chavez's united farm workers is a shadow of what it wasn't was, weakened by internal splits, and rival unions, and hostile organized labor across the u.s. the unions success, enacting laws and oppressive heat conditions. >> workers are entitled to a 10-minute break every two hours, and there will be shade and cool drinking water provided for them. >> but it has far fewer employees under contract. and many workers have been fighting to revoke the ufw's that's right to do that. and meanwhile, the farm workers have been dropping, and as a result, the wages have acrossed. >> what we hear them talking about is actually expurge it's consistent from the data that we find. >> a lot of my friends are going back home to mexico, and i would like to as well. >> but alvarez says what's keeping him in california, his seven children. few of them still work in the fi

the supply of labor and get everyone in the union and when they do that they control the supply of labor and drive up the price. but it gets passed on to consumers in the higher wages and because consumers pay higher prices, the consumers are worse off nasl goods and services. which it lowers sector and the economic research is conclusive that the overall loss of the economy are you might have gained some insight of the union but overall worse off. the claim you lower average wages is very dissonance to my ears has labor economists. on top of that, it is not doing the best in recent decades. union membership is done consistently said they don't have that many labor market. how in the world do you get the funding to states with right to work laws generally the states that declining union membership have worse wages. im others have taken a look at this. the next to slide credit booties.com. this is not just a change in union membership since 1979 but the 1970 union membership. lo and behold the states that have the largest drop in union memberships since the 70s are the states that have the slowest wage compensation growth. that doesn't fit in wit

consumers and promote innovation. >> clinton's tilt to the left by cracking down on pharmaceutical companies and tweaking the tax on generous health plans unionsthe partly an effort to lock down the democratic nomination as buzz continues to build for vice president joe biden who was urged to jump in by a key part of the obama coalition when he spoke to a conference of historically black colleges and universities. with the possibility of biden getting in, today politico reported two unions have decided to hold back on unexpected endorsements of clinton including the service employees international union plus the top public employee union. meanwhile democratic socialist senator bernie sanders greeted capital workers. clinton got a boost when carpenters and joiners of america backed her expanding her lead over sanders among union endorsements. late today more pressure over the e mail controversy as a federal judge ordered them to upload by next friday all e-mails of the clinton aides so they can be searched to comply with the lawsuit by david basi of citizenings united. >> it was a great victory. >> sanders tweaked clinton by saying as a senator

consumer. lastly, hold on to your seats for this one, union pacific.is one of the biggest transport losers this year, as rail volumes have tumble bud morning star's keith shoemaker says ups diversified portfolio and ability to improve operating margin are the reason he likes the stock. he thinks shares actually have 37% upside over the next year or so based on yesterday's closing price. brian, some names to check out. >> all right, morgan brennan. thank you. >>> when we come back this morning, we will have more today's top stories. >>> plus, yes, investors have been stomaching a big market selloff, not all the stocks fell the pain. we will bring you the s & p 500 companies holding off the best. stick around. "squawk box" will be right back. ♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it

we worked with congress and the european union to cut iran off from the world's economic and financial system. and one by one, we persuaded energy-hungry consumersian oil, like india and south korea, to cut back. soon, iran's tankers sat rusting in port. its economy was collapsing. these new measures were effective because we made them global. american sanctions provided the foundation, but iran didn't really feel the heat until we turned this into an international campaign. so biting that iran had no choice but to negotiate. they could no longer playoff one country against another. they had no place to hide. so they started looking for a way out. i first visited oman to speak with the sultan of oman in january of 2011. went back later that year. the sultan helped set up a secret back channel. i sent one of my closest aides as part of a small team to begin talks with the iranians in secret. negotiations began in earnest after the election of 2015. first the talks lead by bill burns and jake sullivan that lead to the interim zbreemt. th now there's a comprehensive agreement on iran's nuclear program. is it perfect? well, of course not. no agreeme

consumer finance, he was in the transportation business which led to the csx railroad. i don't see he has person to person experience, but has good solid experience running a large, heavily unionizedportation company and people i talked to in the industry never has anything bad to say about him and i've heard good things as well. >> brown: scott mayerowitz, you cover the industry. you hear about him. what do you think is the biggest challenge for united now? >> the biggest challenge is to lure its passengers back. if you look at delta, for instance, they are boasting ability having the best on-time performance in the industry of the big three airlines, and united has been lagging behind there. many of the frequent flyers who spend tens of thousands of dollars of year with the airline, they need to come down and stop having these computer outages, have flights on time and have flight attendants and gate agents who are happy and interact with challengers. this will be a big challenge for them coming in. but as george said, he is big in transportation and the airlines are complicated, logistical organizations, so hopefully he will try to come in and figure things out there. >> brown:

leadership we worked with congress and european union to cut iran off from the world's economic and financial system. and one by one we persuaded energy-hungry consumers of iranian oil like india and south korea to cut back. soon, iran's tankers sat rusting in port, its economy was collapsing. these new measures were effective because we made them global. american sanctions provided the foundation but iran didn't really feel the heat until we turned this into an international campaign so biting that iran had no choice but to negotiate. they could no longer play off one country against another. they had no place to hide. so they started looking for a way out. i first individualed oman, to visit with the sultan of oman in january of 2011. weren't back later this year. the sultan helped set up a secret back channel. i sent one of my closest aids as part of a small team to begin talks with iranians in secret. negotiations began in ernest after the iranian election in 2013. first, the bilateral talks led by deputy secretary bill burns and jake sullivan, that led to the interim agreement. then the multilateral talks led by secretary john kerry, undersecreta

leadership, we worked with congress and the european union to cut iran off from its financial and economic system, and one by one, we convinced energy hungry consumers of iranian oil to cut back. soon, iranian tankers sat rusting in sports. its economy was collapsing. these new measures were ineffective because we made them global. american sanctions provided the foundation, but i ranted not really feel the heat until we turned this into an international campaign. so iran had no choice but to negotiate. a could no longer play off one country against another. hide, sono place to they started looking for a way out. i first as it did to speak with the sultan of oman in january 2011. i went back later that year. he helped to up a secret back channel. aides one of my closest to begin talks with the iranians in secret negotiations began in earnest after the iranian election in 2013. first, the bilateral talks led by the deputy secretary and jake sullivan that led to the interim agreement, then the multilateral talks, led by secretary john kerry, and undersecretary wendy sherman and others. now, there is a comprehensive agreement on iran's nuclear program.

we worked with congress and the european union too cut iran off from the world's economic and financial system. and one by one we persuaded energy hungry consumersf iranian oil like india and south korea to cut back. soon iran's tankers sat rusting in port and its economy was collapsing. these new measures were effective because we made them global. american sanctions provided the foundation but iran didn't really feel the heat until we turned this into an international campaign. so biting that iran had no choice but to negotiate. they could no longer play off one country against another. they had no place to hide. so they started looking for a way out. i first visited ohman to speak with the sultan in january of 2011 and went back later that year and sultan helped set up a see xret back channel. i sent one of my closest aides as part of a small team to begin talks with the iranians in secret. negotiations began in earnest after the iranian election in 2013. first, the bilateral talks led by deputy secretary bill burns and jake sullivan that led to the interim agreement. then the multilateral talks lelds by john kerry and secretary ernie moniz a

we worked with congress and the european union to cut iran off from the world's economic and financial ystem. and one by one, we persuaded energy hungry consumers of iranian oil like india and south korea, to cut back. soon iran's tankers sat rusting in ports. its economy was collapsing. these new measures were effective because we made them global. american sanctions provided the foundation, but iran didn't really feel the heat until we turned this into an international campaign so biting that iran had no choice but to negotiate. they could no longer play off one country against another. they had no place to hide. so they started looking for a way out. i first visited oman to speak with the sultan of oman in january of 2011. went back later that year, the sultan helped set up a secret ack channel. i sent one of my closest aides as part of a small team to begin talks with iranians in secret. negotiations began in earnest after the iranian election in 2013. first the bilateral talks led by deputy secretary bill burns and jake sullivan that led to the interim agreement, then the multilateral talks led by secretary john kerry, secretary ernie moni

supply of labor, get everyone into their union and when they do that, they can control the supply of labor and drive up price. that higher price gets passed on to consumers. the higher wages, other consumers pay for it. because the consumers are paying high prices, the consumers are worse off and they are selling fewer goods and services. more workers get pushed into the nonunion sector of the economy which is supply and demand. the economic research is fairly conclusive that the overall losses of economy are you might have gains if you are in the inside of the union but overall the economy is worse off. the claim you are lowering average wages is very dissident to my ears as a labor economist. on top of that, union membership has not been doing the best in recent decades. union membership is down fairly consistently, so they don't even have that many labor markets where they have the monopoly. so how in the world do you get this finding the states with the right to work laws and fewer union membership, and generally, states with a decline have lower wages? we have taken a look at this. the next few slides i will credit to another person who posted the s

consumer services driven private sector led economy is in. that's where china is going. they're not going to do with the former soviet union did witches let go and let it go up in smoke. that is a very important example they will avoid at all cost. they have a heavy hand in managing the transition but it is a transition whose train has left the station. the consumer sector is now to gdp growthore and the investment sector services are larger than manufacturing and construction combined. ande are dramatic changes we are balancing that china is not being given credit right now. tom: let's come back and we will talk to stephen roach in the last hour. from seattle to washington. and the pope, to keep up with the schedule will move up to new york city. i need to tell you that markets are on the move including a much weaker mexican peso this morning. we will have this for you all through bloomberg surveillance. today if i the clock p.m., janet yellen worldwide on bloomberg. ♪ tom: we welcome all of you. jon ferro in london, i am in new york and with me is vonnie quinn. 's president is pledging to open doors to u.s. businesses. w

the consumers are worse off and b, they're selling fewer goods and services, so more get pushed into the nonworking sector. the losses to the economy, you might have gains on the inside of the union, but overall trk economy's worse off. the claim you're lowering average wages is disinnocent to my ears. on top of that, union membership has not been doing the best in recent decades. it's down consistently and so, they don't have that in labor markets where they have a monopoly. so how do you get this, the states with right to work laws, have worse wages. i and a few others have taken a look at this. this is actually, 1979 union membership. it seems like the states would have the largest drop in union membership since the 1970s or the states that had a largest drop and those are the states that had the slowest composition right. that doesn't quite fit in with the story the economic policy is telling. well, it turns out nea lot lowe employment. and so, the start of simplistic story that we showed you before, actually turns out to be a lot more nuanced and less favorable to the unions than what the economic policy institute put out. i thought professional standards, you share your dat

consumed 620,000 lines did this despite opposition in the north, despite opposition in his own political party, despite opposition within cabinet with the emancipation proclamation would have made the war not just about union or keeping the union thing more pro, freedom, liberation together . roosevelt never quite did that. there are millions of deaths the torment us. this was the other fruit of 1944. 1944 is a story of great triumph a story of heroic actions and magnificent biters and soldiers of america, fdr's magnificent readership, the most profound war that america ever fought and the story of readers -- leadership and decisions made. it's also a story of decisions not made, tragedy, there's millions of lives who somehow slipped through our fingers. in the end 1944 is the greatest of years we can imagine, but it is also one of the saddest. thank you very much. [applause] >> i was wondering what you think would have changed. if you could paint a broad picture. henry wallop remained on on the ticket in the 1944 democratic convention and succeeded chairman.nd of and succeeded >> well, i have got to say, that is a funny thing because it is a question my guide asked me. what do you think would have happene