not because i am dick costolo.ve always tried to make sure -- i have never paid too much attention to the ceo of the year stuff because the worst ceo of the year stuff is, you know, right around the corner. i therefore do not get worked up or, frankly, care too much when people say those things. in fact, i have had to make myself care a little bit about them only after i started realizing, oh, it could affect recruiting if people start thinking, well, i want to go to twitter but what if, you know, dick is not there tomorrow and everything changes? so i have to make myself pay attention to that and talk to people we are trying to bring into the company about it and say look, that is just not the case. emily: how does not being a founder affect your ability to lead? dick: jack dorsey can sit here and you can ask him, what were you thinking about when you first, you know invented twitter? you know? you can't ask me that same question, because my answer is i did not invent twitter. you can be a non-founder ceo and have

dick costolo may reportedly step down.'re looking for a new ceo and that person would report to three predecessors, costolo and williams and dorsey. now dorsey hasn't ruled out staying on as full-time ceo. we should point out the stock has been sliding ever since twitter reports earnings a couple weeks ago and on friday losing around 2%. now down 1 dollar off the ipo price. >> they're taking their time. one to continue to watch is twitter. >>> switching focus, warren buffett will be celebrating his 85th birthday later this month and he may be casting a line to land a big present. the biggest takeover in berkshire history is in the cards. landon dowdy stack by. >> berkshire hathaway in a deal to buy precision castparts. the deal may be worth $30 billion. the cap is about $27 billion as of friday but the largest purchase berkshire has made is the 26 million takeover in 2010 of the stake in the burling santa fe railroad. it's one of the largest owners of precision. and precision castparts makes parts like nuts bolts, fastener

. >>> dick costolo may step down once a replacement is found for the ceo job. that person would now have to report to three, costolo and three other investors. let's have a look at twitter's stock, down 1.8% on friday. of course, that now fractionally above the ipo price. and down significantly over the last three months. for me, i have to say this kind of comes back to the area where one where he does step down, costolo people thinking if he did step down, he would stay on the board and now he's considering not staying on the board. >> absolutely a possibility. i think this highlights that there is this desire to bring in some new blood on to the board. and perhaps take out some of the old names and bring in some new people. but the question is, it's now been over, what, seven, eight weeks? and we still don't have a name in terms of who is going to be the new ceo of twitter. does that highlight that it's that hard to find a candidate. or is it just when fall comes we'll announce who the ceo is going to be? >> the other question is, is jack dorsey wanting to ta

the shuffle might involve the ouster of a former ceo, dick costolo, from the board.ng in san emily francisco. tells what is going on. what might this board sheet of look like? is unclear if this would be an ouster or dick costolo stepping down because he wants to it is not surprising that he would like to leave love potentially after they get a new permanent ceo on board. he's that i am done, i want to move on. at the same time, another thing that we are hearing is that twitter is thinking about adding more diversity to its board, bringing in new people with different perspectives. one of the big criticisms of twitter is that you have a lot of insiders who are still running the place. they have not had a lot of new blood. interimsey is the ceo. and then you have a huge twitter investor saying i want jack to be the permanent euro, and evan williams should be executive chairman. all insiders. saying the critics are that twitter has had these problems over the years, why would you not inject new blood to save you can shake some things up? it seems thatt for now, investo

costolo, and the proof's in the putting, not doing a great job.ne guy that is a player is anthony nodo. this is a guy that used to be at goldman sachs, was a top banker and analyst and on top of that cfo of the nfl. he knows what he's doing, if he's buying, you got to ask why and why everybody else is selling? my guess is he knows as well as everybody else knows, everybody else is thinking at some point when it gets low enough this is going to be sold and the stock will spike. liz: or they announce a great new ceo and the stock spikes. >> maybe. they need more than a ceo, they need a huge c-suite which gives credence to the notion the stock needs to be sold. the stock hit a new low. liz: in fact it went below $27 a share, ipo'd at 26. $26.87 earlier, remember the stock was $72 a share. >> that is a nasty -- that is nasty what happened. liz: this is a deserved stumble, you don't let a ceo leave without having a transition at least ready. june 11th when costolo said good-bye, now look at the time, it's august, and nobody. >> they would say we have m

dorsey returned to the company as interim ceo last month after dick costolo resigned after a five-year. first of all, we should pour a little cold water on this report. sarah and i have talked to a lot of people and there is no indication that this would happen next week. it's going to take a lot longer than that. sarah: this is a situation where you have a lot of people with very strong opinions about what is definitely going to happen. emily: everyone thinks they know. sarah: we are hearing things on the opposite of the same spectrum saying that they are interviewing outside candidates and will take a few months to do this. it's just a matter of looking through the noise and saying, okay, here are the things we know. we know that jack is running both companies. we know that he is making an impression of twitter, making changes internally. making them push forward on their product direction. emily: and he cares. sarah: he cares deeply about most companies. i think it makes the board look at him more favorably. emily: how do you view this as an objective investor? >> i have no informat

you reported that dick costolo is leaving the board as soon as another ceo is announced.y are buying shares. ev williams has been selling shares. sarah: he is selling hundreds of millions of dollars worth. jack dorsey has been selling shares. if you look at the insiders and board members, there are more sales than purchases and the purchase jack announced was the first since the ipo. it is not the first time that twitter has tried to use executive purchases for public confidence. when the restrictions were lifted on insiders after the ipo lock-up, they pledged to hold onto their shares. emily: you are reporting that when a full-time ceo is named, there will be a board shakeup and they will bring in new diverse candidates. james, why do you think by now -- twitter is that one of the lowest point since the ipo. why should we buy now? james: we have been on the sidelines. with the stock down, we think it is the time. it boils down to a couple of things. there is some risk with the transition. ultimately, twitter has strategic value and they are synonymous with real-time cont

four of the board members, including costolo walking away. who do you think that's added? are they talking to? are we thinking hollywood media people, given the importance to television of the twitter discussion? are we thinking more technology people? >> we pointed out in our note. there's four members that could leave the board, two vcs, dick costolo, wells miss gardeno, pearson economist previously. the replacements, we hear they're looking into the media areas, tech as well. tech is a big part of this and even some optional roles as well. those types of background is what we think they'll be looking toward. >> do i sense some hesitation in your voice as to whether you think this is the right move or not? or am i misreading you? >> ideally i would love to see jack take over as the permanent ceo without having to be the ceo of square. you think this is a good secondary choice, particularly with the team of adam and ed around him. >> does it change your thinking on the stock, which you do have a neutral rating and a price target. what's your price target here? >> our pric

dick costolo did not do what was truly necessary. -- trish: we are going to see you at the top of the hour, but i've got some breaking news i want to get to right now. we've got local reports coming in to us right now of shots being fired in the area of camp shelby in mississippi. again, these are local reports, they allegedly came from a pickup truck there. two suspects were allegedly firing shots at a group of soldiers at the camp shelby joint forces training center there in mississippi. wdam is reporting two suspects allegedly fired these shots, two white males, at this group of soldiers that were at the training center. perry county deputies have confirmed that the shots were fired now at 12:10 p.m., ten minutes past noon today, on this group of soldiers that were training in the area. and according to the perry county sheriff, there are said to be no injuries reported, so that's important, no injuries according to the county sheriff. but officers are searching for a two-door red pickup with broken arrow written across the top. s

the nfl deal, costolo goes. what would be amazing if they could turn the business around? that would be something. the other things are fabulous but to turn the business around would be a seminal event. >> the stock dropped last week to 27. a bad week last week. >> a lot of people think it goes down and then there's a bidding war at 21. >> you believe it? >> i don't know. my trust is stuck in it because i talk about it every day. >> another day you can't sell. >> look at that board. if every one of those guys bought some stock, it would mean nothing. there's so many of you. you ever see the amounts they buy? >> we're talking a few thousand shares. >> kinder comes in and buys 1 million shares. he was wrong because he's never sold a share. these guys come in and buy 4,207 shares. wow. >> you see the sell of 1 million shares? >> that's what i want. earns and momentum. >> sell a million shares and you make $500 million. >> if you only buy companies that are doing well that have insider selling, you do tell. take that to the bank. if the companies are doing well, it's shocking

is he going to be on the board when costolo is out? and the board shake-up.hat would be a great idea. >> i don't think so. >> i think that interview angered people at twitter. i think he definitely knows how to push their buttons. he doesn't call himself an activist shareholder, but that's precisely what he is. >> isn't 50% of a visionary better than 100% of a manager for twitter at this point? i mean, take a look at apple post steve jobs. >> they had 100% of steve jobs if i recall. >> they did have 100% of him. but i could easily imagine them getting 100% of jack back after the square ipo. so to me i'd rather have 50% of the visionary at this point because it seems like they've got zero guidance as far as that is concerned. >> it's a silicon valley myth the founder coming back and saving things. it's only happened really once and it's steve jobs. i think jack dorsey's really talented and stuff like that. but it's really -- it's a myth that is not necessarily workable all the time. jerry yang came back to yahoo! that didn't work out so well for yahoo! and for

right --ick costolo is i don't think there is anything inaccurate with the article.a big article and i think it is worth a read a cousin raises the issues of what white-collar workers go through and how much they work. we all know that we leave the office -- we are more like firemen in that we are always on then your average worker. the average white-collar worker is accustomed to taking the phone home. in amazon, they carry this to an extreme level. it still has the culture of we have to work around the clock to survive. but it's also a very doggy dog culture where employees will walk into a meeting and make the project go away. upx: what does that wind doing to the tech employee base? we see unlimited vacations and two-year maternity leave. what does that do to their talent pool? cory: i think it's going to restrict their talent pool. thanmployees are paid less a comparable job in other places, but they do that -- we -- iat that stock chart think most employees get stock options at varying levels. one of the things senior managers do is they go to work and put up w

we talked about dick costolo stepped down from ceo role. jack dorsey steps in.sey putting his money where his mouth is, purchased over 31 shares, 31,000 shares of twitter on august 7th. that was revealed. we know the stock has been beaten down, down over 20% this year and user growth has been the worst since the 2013 ipo. he steps in and buys. last thing i will say, because there is a lot of headlines surrounding twitter, a deal coming out just breaking. deal with the nfl. it will have a multiyear strategic partnership. you will see videos, all kinds of information. working on user experiences. nfl working closely with twitter. some are daily and multiyear agreement. this partnership goes forward. stuart: just wonder if this can bounce significantly off 27? nfl deal and costolo deal might also be -- >> you know what they need? user growth. stuart: you're right, nicole. tune in every morning, 5:00 a.m., lauren, sandra, nicole. it is called "fbn:am." great show every morning. that is how you start your day. >>> biggest deal ever for buffett's berkshire hathaway. t

costolo on his way out said yeah i'm going to stay on the board, that's important to me and jack seemedsit there and nod. twitter said we're going to have a full-time ceo who doesn't have other jobs, that's important. they said the strategy won't change. if they do this plan, they will have gone back on pretty much everything that they just said weeks ago. it's not like there's nobody out there who could possibly be interested in this job. i'm curious, what does it communicate if after saying they're going to do this broad search, they not only don't seem to do that. but then bring in a ceo in jack dorsey who has the exact qualifications that they said would have eliminated him from the job? >> well you know i'm shocked that gambling is going on in this place. i don't know, these company does this all the time to us. so i think that they, i don't think, one thing that chris did bring up, chris sacca brought up, was nobody was worried about the double job thing, except the board so they brought it into the narrative a little more. i'm not sure investors are worried about a double ceo nec

dick costolo, the former ceo on the board, peter fenton, david rosenblatt, evan williams, one of the founders, peter churnin who used to be head of twenty-first century fox entertainment. why aren't they in a little bit of a let's get going mode and name a new ceo? >> it's interesting, looks like they were talking down the stock, too. the executives. liz: they were selling. >> but talking down the stock. they were saying that metrics are bad. i would just say this, if you're for an investor, this is something to watch, interesting gamble. let it go below 25 before you start jumping in here. i think that's the level where it becomes, there are trophies, mark zuckerberg might want the trophy if it gets cheap enough. liz: i can't wait to see who the new ceo will be. thank you, charlie gasparino. >>> the closing bell 31 minute away, bill o'reilly helping donald trump or not prepare for tomorrow's debate. bill o'reilly demanding real answers on real issues. >> we want straight talk? obviously you give straight talks, i don't think you're going to make nieto pay for the wall. you might pro

. >> you'd do better than costolo. >> that's not hard. >> is that italian?th, i guess. >> i know irish guys named costello. [laughter] >> it's great to see you. this is fantastic, you know? >> it's fun. gary and i go way back, financial crisis reporting -- liz: excuse me, i go back further with him. thank you. 1998. >> i just spoke to some of the interns, we go back before any of them were born. >> how great was the coverage of the financial crisis? >> yeah. unbelievable. >> that was an unbelievable time because, you know, he was at lehman brothers. >> it was acquired by lehman brothers. liz: let's get to twitter because twitter was going through an unbelievable time right after its ipo. it skyrocketed to $72 a share. >> right. liz: look at it now, and what's the chatter today about a ceo replacement? >> well, i don't believe it, but there was, like, some rumor going around that sheryl sandberg, the facebook coo -- or number two, i think she's president and coo -- liz:cfo. >> no, she's coo. that she was going to go to twitter. i think a more likely scenario

dick costolo is on the board. is on the board. do we need a shakeup?ceo comes in, they need to resolve that. i think they need to change a few things on a broad level to give that new ceo freedom and flexibility to implement strategies to drive user growth. is a good ceo and a good analyst and a good banker. from what i understand, he is a good operator within twitter, but i do not think he is ready to take the ceo role. he will have to prove himself as a cfo. erik: when you think about catalysts in terms of stock and operating performance -- are you thinking about catalysts in terms of stock or operating performance? victor: first they need a new ceo. they need to resolve that quickly. that does not promise operating performance, it is just a potential path? victor: correct. right now the company is operating without a permanent ceo that is not give investors confidence. the project lightning, that is promising that will be launching within three months. that is another catalyst investors are waiting for. those two are the biggest ones. video ads is a

. >> some may have argued that once costolo stepped down that would have been the time for someone to come in and as every day passed it became less and less likely. why now? just because it's cheap? >> well, it's dropped, and there's no real sign the company's going to be able to innovate quickly enough to ramp its share price. and that's the real problem, is people have been waiting for innovation from the company for a long time but actually if you look at the product, if you think of twitter as a product, it's more or less the same product that it was months he ago and in the social media world if you stand still for six to twelve months you decline. so it's not just the stock price. the company really hasn't shown any ability to be able to innovate like facebook has. so when a company runs out of great ideas or fails to implement them, then they become a takeover target. >> so is it your premise that this would happen before a new ceo is named and so therefore new ceo is not needed and that's why it's taking so long? >> it probably is independent of a new ceo coming in. the price

former ceo dick costolo is leaving board.er signing a multiyear partnership with the nfl to deliver video and other content to football fans. a lot going on with twitter. stock is up 7 1/2%. broadly markets are up all day long. neil back after this. neil: welcome back, everybody. i'm neil cavuto. you're watching "coast to coast." we're getting word from the white house the president plans to host a fourth and final nuclear security summit in 2016. it will be march 31st through april 1st at waller e reed washington convention center in washington, d.c. is this modern day effort to rein in and watch nuclear stockpiles around the world. comes at a time when there is controversial deal with iran on the line. we have a former assistant secretary of defense to donald rumsfeld on timing of this. the summit is pegged along with the timing, certainly with this iran deal that looks kind of shaky. what do you make of all this? >> well, i'll tell you, neil the president's really trying to pull out all the stops to make this convincing, t