dan gilbert will be making more money than anyone off this convention. amy: how?er: just from the rental of the arena and, i understand, someone said the bulk of the profits would be going to quicken loans. amy: we have been talking to a lot of the shop owowners in downtown cleveland, set aside the poorer communities in the outlying areas, and they are devastated by this week. their bubusinesseses have almost come to a halt. peter:r: i've experienced the se thing. people have said the same thing and that is consistent with my observation. it raises a lot of questions about who is benefiting herere. you have t the big barriers between the citizens and quicken loans arenana and a big barrierf analysis of what is being said in that arena and whahat people really t think aboutut it.t. they have such a big megaphone. amy: didn't gilbert's relationship with the press. we are talking about donald , no longeger do we use the word presumptive nominee, but the republican presidential nominee. there are a number of interesting parallels. among them, journalists have been ban

dan gilbert is the owner of the cavaliers and he is the owner of quicken arena.. >> it is a great song. >> what does this mean to have this here in cleveland? >> i think this is great for the city. we are coming off a big winning streak. we have lake erie monsters who just one their first calder cup which is the american hockey league. lebron james and kyrie irving and kevin love members of the team to win the nba championship. >> this is a couple of summers ago. lebron was a free agent. we went to miami and you know what? things happen in business. people have a communication here and there. if you hold grudges on either side, it's not good for anybody. but it's a long history and we are all excited right now. >> you launched the quicken loans arena. what is this like for you? >> it's not your grandfather's but it's pretty amazing. i just heard one of the guys here tell me that work cost $2 million alone. a lot of time, money, and effort in this ian a lot of experts and hard workers. because of the playoffs, it was the shortest period of time anybody had to get

the cleveland owner, his name is dan gilbert and he's a big deal.leveland is a city of champions once again! the cavaliers are nba champions. >> for the first time in more than 50 years, cleveland recently celebrated a pro sports championship. did you hear? lebron james and the cavaliers beat golden state to capture the franchise's first title. less than a month later, cleveland hosting the republican national committee. dan gilbert is the owner of the cavaliers and he is the owner of quicken arena. they should choose this moment to sing the star-spangled banner you are hear. it is a great song. >> it is a great song. >> what does this mean to have this here in cleveland? >> i think this is great for the city. we are coming off a big winning streak. we have lake erie monsters who just one their first calder cup which is the american hockey league. lebron james and kyrie irving and kevin love members of the team to win the nba championship. >> this is a couple of summers ago. lebron was a free agent. we went to miami and you know what? things happen

dan gilbert, as you have mention. this debate ranges from $3 billion, depending on what is accounted for, what actions are accounted for in those bids. we assume that most of these folks are bidding for yahoos core assets, which would include search, e-mail, advertising. but it is unclear what company for howng for what and much, what they plan to do with yahoo!, if indeed they are the winning bid. it has been discussed verizon would consider merging yahoo! with aol. newlymstrong may run that merged company. we don't know a lot about how this process will play out. we don't know, once the winner is chosen, when we will know who that company is. bank it is -- david: what are analysts expecting to see? emily: marissa mayer has assured investor she will continue on with -- continue on improving the business. of it is priced into the stock. yahoo! shares are up 13% day-to-day optimism. if we are expecting display ad sales to drop once again. yahoo! marketer expects will account for 2% of display ads by the end of this yea

will it the verizon, dan gilbert, or a little-known firm called vector capital management?e will break it down, next. emily: the news investors are waiting for -- yahoo! could be just a week away from a sale. now is former yahoo! -- what do weeric know in terms of the top three on the list? tell us about actor capital. guest: vector capital is a name few people know. sales the reasons the process has dragged on so long is that the advisors were trying to figure out how serious are some of these bids. from my sources i have spoken to, there are five bidders remaining. are seen as the longshots at this point. so you have vector, which is typically a middle-market technology firm, but they have raised enough financing from limited partners and have partnered with sycamore ventures to put forth a formidable bid to theoretically compete with verizon, which is an absolute but he mess, and dan gilbert who owns quicken loans and other properties. andould likely take yahoo! have some synergy with quicken and run yahoo! better than marissa mayer and the team has been able to. we shou

as are said to include verizon communications, at&t and founder dan gilbert.lauren: train to federal authorities take a close look at fiat chrysler. the department of justice investigate whether the automaker inflated its sales report. the inquiry comes after a group of illinois dealers sued fiat chrysler in january claiming the company pay dealers to report false sales. one dealer was offered $20,000 to foster reports to a new vehicles. the lawsuit is without merit. is cooperating with the investigations. the stock closed at $6.73 a share. lauren: other stats reported before today's opening bell. goldman sachs leads the list earnings per share are expected to comment and shove more than 60% a year ago when results were down by a legal charge. revenue expected to fall. analysts at for higher revenue in johnson & johnson that ford newer drugs for cancer and diabetes and microsoft will be the big name to watch after the closing bell today. revenue edging lower. signs of progress in microsoft's transition into an internet cloud computing services company. trained

but unlike dan gilbert who published an open letter who criticized lebron james, there was a different response. >> we need to recognize what took place over the last 8 years and recognize it and celebrate it. they should feel thankful, grateful and not be disappointed. but the one thing i would also say is the city should be incredibly proud. >> more on kevin did you rapt's move coming up in the next hour. >>> it's 4:42 and it's all fun and games, but some adults have a problem with the so-called pig scramble. the compromise they're hoping to make. ,,,,,,,,,,,,,, aught fire in >>> welcome back. it's a quarter to 5:00. a scary situation in massachusetts during fireworks last night. two barges caught fire while getting ready for the fireworks. those who watched knew something was wrong as soon as it happened. >> the fireworks went off and went from one end to the other, and everything lit up all at once going down the whole barge. >> thankfully, nobody was injured, and the show stopped immediately. >>> firefighters are getting a better handle on the trailhead fire. all evacuations are v

it just leaves dan gilbert.rd here at this point, would dan gilbert really pony up and challenge verizon at the last minute? the direction here seems to be like yahoo! has picked its force. course -- horse. alix: -- david: talk about the respect of coulters. -- cultures. alex: there's probably some similarity is some difference. the similarities that this -- these are two governors the used to run the internet, now they don't. if the a lot of talent walk out through the doors, and they continue to bring back talented people as well, because they have big names of people are drawn to the idea of working at these companies and potentially try to turn around. that said, there are obvious the differences between the east coast and west coast, and verizon is also not a west coast technology company. fit problems.ome we will see us things go out between yahoo! and verizon. verizon is buying yahoo! at a time when the company desperately needs a turnaround in morale. you have to expect that. this is not going to upset e

and we will speak with dan gilbert, and the ownership of the cleveland cavaliers for the team's nba championship the "cbs morning news" for this monday. thanks for watching. i'm meg oliver. i'm kenny choi. c1 . >>> good morning. you are looking live at the republican national site in cleveland, ohio. good morning. it's monday, july 18. i'm kenny choi. >> and i'm michelle griego. monday morning and a little hard to get out of bed this morning. >> i think i told you how i got out of bed. >> you fell! >> just reaching for my alarm. and yeah. that will wake you up. you know me. i have the positive bounce back going for me. good morning. rise and shine. we have drizzle inland as far as the dublin grade. a deep marine layer and temperatures are hovering around the first things, 58 in the trivalley and the winds have been picking up at 10 miles per hour in oakland and 13 at sfo and 23 in fairfield. today, nothing but sunshine away from the eachs and highs around 80. open up the windows and turn off the ac. still cloudy, 60s at the beaches. the forecast coming up in a couple minutes

lesser-knownon, a from -- thet&t and favored bits are from verizon, vector capital management and dan gilbertpital management based in san francisco, they spun off two decades ago. invested $1.5 billion in technology companies over the last couple of decades. they would not be able to make this kind of a purchase on their own. they're working with another and ay called sycamore few other companies involved in that bid as well, we are working to get more details on it. what we understand will happen now is a couple of companies, yahoo! will ask a couple of companies for their best and final bid. it remains to be seen which of those companies that will be. , theyrizon bid is lower are simply bidding for yahoo!'s core business. some mothers are looking for the core business and the real estate assets. verizon may change their bid. all of that remains to be seen. vonnie: are the amounts of the best public? is there a chance of these bidders teaming up? emily: interesting question. we have learned that anything is possible in this process. the ranges anywhere from $4 billion to $6 billion. bryson

i am no relation to dan gilbert, although i get it all the time. but i am a lifelong clevelander and like everyone here and around the country we are still on the high from the championship victory. in terms of homeless, yes, there has been a lot of attention given. we have been working with united way and other social agencies for many months to make sure the homeless and other groups are accommodated during the convention. ms. brawner: and what goes into that? mr. gilbert: it is a gathering -- one, it is coordinating agencies to making sure people know that if there are street closures and other things, where can people go? a lot of it it is communication and making sure that the shelters need extended hours, things like that the homeless and other populations know where to go and how to get there, so it is coronation and communication. ms. brawner: speaking about behind us, you are talking about making cleveland pretty and making it look -- what did you have to do to the queue? anything? mr. gilbert: if you go inside, the committee on arrangemen

sources tell bloomberg that the quick and loan founder dan gilbert and investor capital management arerategic review committee, a well-run, robust process, continues to manage this effort. we are making great progress. we have no announcement today but i can say we are deep in the of evaluating proposals and alternatives and we will update our shareholders as soon as it is prudent. >> johnson and johnson is increasing its full-year profit and sales forecast after estimates were topped with results in the pharmaceutical division. shares have almost doubled since the start of 2010 and the company has topped earnings estimates every period since the first quarter. latesto has rejected its $55 billion takeover offer. the company calls the bid financially inadequate here monsanto says it is still open to talks with any parties about a deal. bloomberg news reported that monsanto might consider a deal over another german company. for the third time this year, volvo has cut its outlook. it fell 29% in the second quarter and a swedish company said it would lower its output in the summer. sales

remaining bidders include verizon and dan gilbert. the u.s.ent is investigating complaints from ford explorer owners. the national highway traffic safety administration says it received 100 84 complaints. one driver said the odor caused a low-speed crash. not saying how many vehicles are involved. american express will debut an online loan let form for small business clients this year. it will approve loans and minutes for existing small business card owners that can use the money to pay vendors. the service targets territory occupied by startups like square and on debt capital. and that is your bloomberg business flash update. joe: the brexit vote is taking a toll on the real estate market with three major funds freezing almost one billion in assets in the past two days in the u.k.. standard life, the free property funds, david shop portfolio on skype fromus raleigh, north carolina. david, these funds in the u.k. freezing trade reminds me a lot of last year when there were concerns about high yield, freezing redemptions. what do you make of t

at&t and dan gilbert did not make the cut and the deal ends the turnaround efforts of melissa meyer.ow.s staying on for we spoke with her right after the deal was announced and asked what verizon could do for yahoo! that yahoo! could not do independently. >> i think there is tremendous scale that comes together from all of the different assets they have been investing in and overall, one of the big challenges is we have reinvented our product and try to make new yahoo! mail perfect for the phone, very proud of where yahoo! mail is at today. the same thing is true for news, weather, sports, finance. we have cornerstone applications that when users use them, they engage with them and love them every single day. tremendousizon has distribution and that is one area we are excited about. overall i think it represents a huge amount of scale and opportunity for verizon. emily: what rolled you envision for yourself in this new entity? melissa: for the immediate future the transaction will .lose in q1 next year i will see the transaction through the close and watch the assets andr asian equit

has selected the top three bidders for its core assets -- verizon, quicken loans dan gilbert and -- atas put in their offer. yahoo! is expected to hold a further selection round before deciding on a final bidder. yousef: let's continue our analysis of the failed military tcoup turkey. joining us is a credit strategist for commercial bank. thank you for joining us. how has the latest turmoil in turkey changed your risk view of the country there? >> clearly, the unprecedented and dramatic events in turkey have definitely have set up a assets, for turkey's specifically for turkey's credit. the news is still fresh. it has not fully been digested. we are definitely going to be in the process over the next couple of weeks where investors will seriously evaluate their position. i think a key point for when it comes to turkish credit will be the decision of the rating agencies and most critically any potential negative downgrade by moody's. that will be the key point of rising premiums for turkey's credit. certainly, investors are likely to be on the sidelines, currently waiting to see the gov

remaining bidders for the company include verizon and a group led by quicken loans founder dan gilbertat is your business flash update. julie: shares of netflix got a boost today after reports that comcast will incorporate the streaming giant into its ask one set-top blocks. netflix fell as much as 5% on a downgrade from needham that cut the rating to hold from buy citing rising goes -- growth risk. analyst atn, senior needham is joining us today on the phone to talk about her call and this report. before we get to the call, i want to start with that report. they say this is a very big deal that comcast wouldn't let customers stream over the set-top boxes. do you think that it is? >> i disagree with them. that x one platform they announced today that got confirmed by netflix and comcast is only in 7 million homes, not the whole 22 million comcast homes. have to ask yourself, netflix has 45 million subscribers in the u.s., how many already have them on roku --apple tv >> is that really the issue in the u.s.? >> you wouldn't think so, no. it's all late their competitor to roku. only avai

leading bidders include verizon and a group led by the founder of quicken loans, dan gilbert.t is the end of an era for blackberry, which will no longer , a winnerlassic model for the company until apple introduced its iphone. this is another step toward eliminating its operating system and a pivot toward newer phones running on android. when it comes to this slow pivot . i am constantly amazed results of sales are down and down and down. -- look, weem is have a smart phone market -- smartphone market that is already mature. we have a company that has lost its direction in terms of the hardware business and just needs to let go. it is interesting philosophically, the letting go of the classic, which was the ultimate blackberry for those , butoved blackberrys ultimately, what they have is security software. otherwise, they risked becoming another android smartphone player. cory: what do they have if they get rid of the keyboard? >> exactly. the key is going to be figuring out a way to license their security capabilities to other much-needede give security strengthening to the p

we got a close look at the nba championship trophy after we spoke with cavs owner dan gilbert.may have set a few things that were not fit for family-friendly air. then everyone stopped as they were doing -- what they were doing as a young woman took the stage for sound check. >> ♪ glare, theket's red air gave proofin through the night that our flag was still there ♪ ofn: she had a good set pipes on her. for more on the convention, head over to bloombergpolitics.com. robbins will be on "bloomberg west." me,l tomorrow, for mark and as we like to say here in cleveland, sayonara. ♪ ?c+sv >> let's begin with a check of your first word news. in cleveland, uproar on day one of the republican convention. delegates opposed to donald trump tried unsuccessfully to force a rollcall vote on the convention rules. that motion was defeated. acknowledged what he called troubling times in the nation. tonight's theme is make america safe again. a new monmouth university poll shows donald trump trailing hillary clinton by 3 points. last month, a survey showed mrs. clinton with a six-point advantag

quicken loans founder dan gilbert and vector capital. all come up as the favorites after submitting bids on monday. at&t and private equity form t.p.g. have put in offers. yahoo is expected to hold a further selection round before deciding on the final bidder. roger ailes is said to be in negotiations to leave his job, following allegations of sexual harassment. he was sued earlier this month by former anchor gretchen carlson who said she was fired for spurning his sexual advances and complaining about his conduct. 21st century fox is now discussing possible exit terms with him. air new zealand's passenger numbers rose 6% last fiscal year. domestic passengers rose 5.2%. the biggest gains were seen in the long haul with a jump up 16%. guess who we hauled into the andio right now, joining me julie, brett mcgone gal. i.m.f. revised its global outlook except pretty optimistic about china. just flagged the debt pile. agrees with you. still bullish on china. >> finally somebody. the china story i think is playing out, how i've talked about in

we got a close look at the nba championship trophy after we spoke with cavs owner dan gilbert.s that were not fit for family-friendly air. then everyone stopped what they were doing as a young woman took the stage for sound check. >> ♪ and the rocket's red glare, the bombs bursting in air, gave proof through the night that our flag was still there ♪ john: seriously, she had a set of pipes on her. if she, like these other speakers, that are not well known, turn out to be as good a performer as her, trump will be in good shape. for more on the convention, head over to bloombergpolitics.com. our whole team will be covering the convention all week long. coming up, cisco ceo chuck robbins will be on "bloomberg west." until tomorrow, for mark and me, as we like to say here in cleveland, using the local dialect, sayonara. ♪ >> it is tuesday july 19. i'm rishaad salamat. this is "trending business." ♪ be taking you to tokyo. a look at what is in stock. the most after a $32 billion takeover of armor holdings. carryingce sheet is over $100 billion of debt. misreporting test rts

dan gilbert is investing in stroit, mike ilitch is investing in detroit.s the answer for america. >> let's start with the president. here's the president who he is coming to the end of eight years. and part of his legacy was many to be uniting the country. and there are republicans who say -- and you heard it from donald trump -- that race relations have gotten worse during his presidency. do you believe the president is partly responsible for that? >> look, i think he is certainly doing his best. and i think he is certainly doing his part. i think over the past week all americans have felt a lot of sadness, and a lot of grief, and a lot of frustration people don't -- we don't want to live in this kind of society. i think the difference between the violence of the last week and even the last couple of months and years is that there is two real things that have become present. one is normalizing hate speech. we have just accepted that it is part of the same conversation. i know that boris will disagree with me on this, but the fact it happens the same week

dan gilbert's private equity group came in at the last minute before the board meeting on friday up their bid by $750 million got rid of a lot of the contract language that they've had that was making it difficult but couldn't compete with verizon at $4.8 billion in cash. so they win the day there. but the key question for the stock is, from here, is well all right, what do we do now with the cash on the call i think they may be addressing that. but nobody will necessarily say when or how it willing returned to shareholders only that it will be and then the stake, the expectation they're going to figurer out a way to sell that. fewer things in that investment company the better it will be in terms of the discount being as slim as possible in the underlying value to the alibaba shares that will be in that investment company once it has been separated from the whole and all done and yahoo! is completely just a memory. >> wow. >> is there a good analog, david, a company like verizon who's leapt so quickly into original content? is it on the likes of a comcast or some of the other big compani

no relation to dan gilbert, although i get it all the time.h from the championship victory. in terms of homeless, yes, there has been a lot of attention given. been working with united way and other social agencies for months to make sure the homeless and other groups are accommodated during the convention. host: what goes into that? is a gathering and coordinating agencies to making sure people know that if there are street closures and other things, where can people go? and makingnication sure that the shelters need extended hours, that the homeless and other populations nowhere to go and how to get there, so it is coronation and communication. host: speaking about behind us, you are talking about making cleveland pretty and making it look -- what did you have to do to the queue? guest: if you go inside, the committee on arrangements is their job to design and transformed the arena from a basketball arena into a place to hold the convention. were amazing what they able to do. typically it is done in 6.5 to seven weeks and they had to do it i

think -- you might not be surprised to see another bid lobbed in or something like that, because dan gilbertvery enthusiastic about grabbing this property. so it's not over until it's over, but i think probably, you know, if -- as one of the bidders said if verizon comes up in a price, it's theirs to lose. that's where we are. they're in exclusive talks and they're in the game. so it makes the most sense. this makes the most sense compared to all the others. although the other bids were interesting, too. >> kara, throughout the process we've tried to parse what any certain bid would mean for the intellectual property, for real estate. to name a couple pieces's any idea what a verizon deal would mean? >> the patents, a little tarnished on those patents. i don't their they're worth quite as much. i don't think that's the big deal and verizon's money has money. they have plenty money to paper these over. not sure if the shareholders will love some of this stuff. obviously, the stock hit on the rumors of the deal, and it's going to be costly. this will be a costly thing for them, but they feel t

and a groupverizon led by quicken loans founder dan gilbert.g business flash. here onquick break bloomberg markets. when we come back, we will tour the billionaire tom barrick's been yard -- vineyard in california. ♪ matt: this is bloomberg markets. fortune in real estate amassing assets including neverland ranch, hotels and the implying lessons he learned to his ranch in california. it is easy to mistake tom barrick for a typical winemaker. wine itself is capable at every level of growing these kinds of barry's. each cluster is hand sculpted to make the right umbrella area. more ready toen be harvested. >> he is anything but typical. a billionaire investor that made his money and really eight. bought a trophy property. >> buying a great vineyard is the same as competing against goldman sachs and morgan stanley that's great, what did you do? you may have a great year. >> he started about 20 years ago. >> headed you decide what kind you wanted to make? >> like all things, i knew that i had no clue. >> they previously owned one of the top winerie

dan gilbert thought he would run the company and be a better manager.d ring out the inefficiencies. at&t were looking at it as a way to poke verizon but get into the mobile ad space. -- they arenewer nowhere near google or facebook. these companies were not going to spend as much as verizon but they had different philosophies. alix: we talk about the future of marissa mayer. walden seems to be a leader of the combined companies. is this her deal? >> we wrote about her a couple of weeks ago. her presence and her name is growing a lot in silicon valley and in new york. she is becoming a known entity. former us a meyer, what happens? she will leave but they will not admit that now but why december or january, she will move on and work for maybe a private equity fund or a venture capital company and make a fair amount of money. many shareholders are pretty disappointed with her performance. alix: what does a combined verizon/yahoo! look like? it's probably the most important time in global advertising, $600 billion industry and a fraction is digitized and e

no relation to dan gilbert, although i get it all the time.nd a lifelong clevelander like others, we are still on the high from the championship victory. in terms of homeless, yes, there has been a lot of attention given. been working with united way and other social agencies for months to make sure the homeless and other groups are accommodated during the convention. host: what goes into that? is a gathering and coordinating agencies to making sure people know that if there are street closures and other things, where can people go? and makingnication sure that the shelters need extended hours, that the homeless and other populations nowhere to go and how to get there, so it is coronation and communication. host: speaking about behind us, you are talking about making cleveland pretty and making it look -- what did you have to do to the queue? guest: if you go inside, the committee on arrangements is their job to design and transformed the arena from a basketball arena into a place to hold the convention. were amazing what they able to do. typi

alix: where does this leave the other bidders like quicken loans and dan gilbert and the other p/e firmsll we see more mergers in the tech space? >> i think so. ad teching in broader has been a big disappointment. those companies have disappointed and the stocks have disappointed but you are starting to see some consolidation. it started with aol a couple of years ago. you could see more of that. ultimately, i look to the company that have been left out. yahoo! is a unique asset and i could see them doing other given that there has been so much carnage over the last two years. yahoo! stock is up by 17% for the year. rate yourve to re- stock while we wait for the deal to close? >> we feel good where we are at. we have a $40 price tag which is where we are at. is that if important they do this transaction, i valueit increases $15 in on a tax-free basis. we talked about that being upside to the share price. you own this in anticipation that this ends up being a tax-free transaction. shery: that was gene munster at piper jaffray. coming up, we will talk about the fed and the index in a bloom

here to put this stage in place and what's actually behind the scenes here, guys, it's actually dan gilbertd cavaliers, that's his suite back there that they built out from here so they come to their spot. they make their speech. they do their thing. but you all can see me here. >> you feeling it? >> you feel it? >> i'm feeling it. i didn't get anything prepared for my remarks this morning but this is -- you get to see what they go through. we just see them pop out. >> yeah, that's right. >> pretty awesome feeling, t.j. that'll be great. thanks for showing it to us. walk off like a pro now. >> here, george. you are setting me up, man, you're setting me up. >> we'll see a closer look at the women in donald trump's life and the role that his former wives are playing in this campaign. come on back. cervical cancer. from an infection. human papillomavirus. who knew hpv could lead to certain cancers? who knew my risk for hpv would increase as i got older? who knew that there was something that could have helped protect me from hpv when i was 11 or 12, way before i would even be exposed to it? di

dan gilbert is expected to be here, as well.le are buzzing about the core assets at yahoo!. there is conversation about deals that could happen. media consolidation is what we hear about time and time again. there could be more consolidation. the former disney president and head of caa saying there is the potential to see in north-south arrangement for the first time, a silicon valley company buying a hollywood studio, perhaps. we will see what happens. david w.: that would be something. there is also a lot going on behind the scenes. what is going on behind the scenes? inid g.: the drama plays out the traffic circle in front of the sun valley lodge. we were waiting yesterday to see if philippe dumond and sherry redstone were going to have an encounter upon arrival. sherry redstone did arrive. she gave it wave to the cameras and went inside after getting out of her dodge charger. we saw her with les moonves and bob iger. the bob -- viacom drama is playing out. the disney drama also playing out. tom stacks arrived. the president

i want to thank dan gilbert, the founder of can loans and owner forhe 2016 nba champion being our personalriend in cleveland. i also want to thank mayor frank jan -- frank jackson. and the entire gop host committee led by chris connor, sandy cutler, seth, and their ceo david gilberts, who have spent every morning and night since 2014 making this hour reality, our time, and our place of choosing in cleveland. thank you. in 1980, not far from here, in the city of detroit, another great rust belt in metropolis that never gave up, the work of delegates resulted in the nomination of a man who was given no real chance to become the next leader of the free world. his name was ronald reagan. and he looked at his job as the 40th president of the united states much the same as we delegates here do. you want to make america great you can accomplish anything if you don't care who gets the credit. once again america is at a crossroads. we have in our hands the steering wheel of the political party in this country. roads, but we are not going to turn left. as delegates we undertake the duties and blessi

gilbert, who's a terrific operator. quicken loans is a tremendous success story and you have dan rosenzweig and sue decker involved. they know the asset. that, to me, is the wild card. in any case this company is going to need to go through, use your car analogy. got to take it into the shop and really clean out the engine and everything around it. >> does that mean that marissa mayer, to continue sort of your analogy, is the main engine that needs to be replaced? is she the one who solely led this company astray? >> well, it's never one person. i think marissa had great confidence and a desire to turn this company into something that she was familiar with at google. yahoo!'s not google. so i don't think it's just on her. i think you can look -- obviously, you have to look at the strategy. that involves the board and whatever senior management was around her at the various stages of this company, but, look, if you're the leader of the company, and i've been there before. you know, carol bartz when i worked under her, she took a lot of heat. scott tomps's took a lot of heat. jerry lange took a lot of heat. if you're