tim, would you ever think about putting a bid on sotheby's because of dan loeb's involvement?no. but what i said, i believe dan loeb is in position here unlike even in other names he's been involved in to stir up the pot. this is not a widely followed name. not a lot of guys on the street that can refute the claims here. as we said, this is a trophy product. this company, this is ultimately a place where the barriers to entry are extremely high. there's not a lot of people that play in here. therefore, there's a lot of value here. and for those that believe that there's actually the intellectual property value, it should go higher. >> let's move on. downgrade and a months of 4% on the week. but we're behind the wheel of tesla for some time. take a listen. >> we've been bullish, you can't fight momentum in the stock. you can't fight the fed. tesla. >> i sold it. i went flat. >> you're out. >> i don't want to make money riding a roller coaster. tesla. i actually got drawn back into the name at these levels. there is no competition, tesla. i am in the name still. every sale i eve

what's up with dan loeb and auction house sotheby's. robert frank here. little bit about ackman. let's not forget about loeb who's been active and great year. >> this is a fascinating case because a lot of the wealthy, they start buying art and then pretty soon they want the auction house, loeb is different. he does collect art. people tell me he doesn't want to take over the company. he doesn't want a sale. he wants a turnaround. sotheby's he says in his letters i like, quote, an old master painting in desperate need of a restoration. first he says the ceo needs to go. he says rupprecht has not shown the innovation this company needs. secondly he says they need a new strategy, losing market share to christie's, behind with on-line and the contemporary modern space where the big money is. sotheby's should be using its master client list and data to become the leading connecter of art buyers and sellers in the world in the private market. that list of clients is a gold mine. he said they should be using it a lot more. third, are the financials. costs are back to 2007 levels even th

dan loeb is a brilliant man, and even though that the company is doing okay in terms of the stock prices in the last few days, he says lit work. and besides, others will take the activist stance who own the stocks as well. avoid the poison pill, and other activists like loeb. >>> and twitter's ipo filing, and what it mean nos for the ot social media stocks. we are joined by a ceo of a company that analyzes privately held companies, and also from michael guise, and sam, we will begin with you since you are sitting right here. and what do you take away? >> well, how rapid the revenues are starting to slow. if you look at the chart for the last eight quarters and the company that is growing the revenue at 230% year over year, and steadily down to 210, and 180, and 160, and now down to 102 and by the time they do the final estimates of the road show, it will be down the double digit digits. reminds me of the facebook chart where you saw the revenue growing from 200% to 180 and then down to spooking the market. >> you are telling me that this is the company in its infancy, sam. >> well, it is

i think you can take that as a pretty good threat from dan loeb.ee what happens now. if nothing happens or something happens that he doesn't like, i think all options are on the table. he reiterated he clearly wants change in the company. he wants a new ceo to replace william ruprecht. he said he left messages for two board members who have yet to return his calls. he says it's incumbent on the board to either say it's satisfied with the ceo's performance or to set out a road map as to how they're going to improve performance, their cost issues and also the deteriorating competitive position. he wants them to be more competitive with christie's. i think that's clear. he also said, i think this is one of the most interesting points, that the art market is just getting started. it will go up from here. guys, poison pill or no poison pill, he made it clear he's not going away. >> and sotheby's down a fraction today, just off that yearly high of $52 a share and change. scott, thanks very much. >> you got. >> error messages, broken links, an hour-long w

you don't remember when george clooney came out against dan loeb?billion replacing 777s. it is, of course, a blow to boeing, which had been the airline's supplier for decades. >>> the shutdown is heading into week two and the debt ceiling deadline is quickly approaching. here now to talk about the economic repercussions of the gridlock in washington is the former chief economist at omb. and professor of public policy of the kennedy school of government. also larry myer who is former fed governor and co-founder of macro economic advisers. larry, why don't we start with you. we heard from the ceo of moody's who does not think we'll actually go over the debt ceiling. what do you think? >> well, i don't know the answer to that. i'm not a political guru. i would say we assume we're not going to go over the limit. obviously as we get closer and closer, the danger is rising. >> in your model, what happens in week two of a government shutdown? how much has been lost to this point? and if we go up to october 17th, what does that do to the economy? >> well, t

they're blaming some box office figures that does bring a discussion about whether dan loeb's view of vindicated. >> costco kind of took my breath away. i had this narrative i wanted to do in the interview. suddenly he said tvs not selling well, i thought, sony, i have to talk about how sony may be hurt. the market overroad me. -- overrode me. loeb's a combative fellow. whether or not he's going to mix it up with george clooney, i don't know. somewhat unexpected, even though we know the numbers from after earth and a number of those other movies were not good, they were not able to make it up within the division with other more stellar performances. >> hence why iger has spent so much time rolling the dice to get away from such fickle movies. >> sherry mccoy said the quarter was tough. >> so often you get these conference calls, that's good, that's good, that's good. >> sharon mccoy from johnson & johnson does just lower the boom. we had a tough quarter. what a breath of fresh air. >> they cite macro economic head winds and continued weakness in north america. >> they ran into a macro

. >> remember when dan loeb sent an e-mail that was published to ken griffin, when he was stealing his employees and how they almost had a truce. is that a good thing or a bad thing for them to call each other and say, don't take my people? >> it's like when -- do you remember when you buy an airline ticket and every air line, there were like 12 of them, 3.89.15. it's weird. wow, just -- >> what a coincidence. >> yeah. so it's probably bad if all these people get together and say don't hire, keep everyone. and lights like any cartel. >>> anyway, the fda is now recommending tightening access to hydrocodone painkillers. regulators want the drugs reclassified as more restrictive products. that would make it harder to obtain both by addicts and legitimate patiences. emergency room visits were like 500,000 a few years ago. and that had doubled. >> a serious problem. do you remember when we had barry meyer come out here and -- oh, he wasn't here. he was from new york. he was talking about all these drugs. >> openaiates are so addictive. whatever reason it's prescribed in the first place and

and sotheby's is really under attack by investor dan loeb. no big surprise there. poison pill will expire in 12 months unless reapproved by shareholders. it kicks in at 10%. that would not leave a lot of room for mr. loeb, who if memory serves is at 9.3%. but the damage has been done perhaps for a company that's going to be under siege for these next few weeks and months. a proxy contest could loom down the road for sotheby's but right now it's just dealing with mr. loeb, a four-page letter that attacked the company and its management and suggested many things would could happen but would prevent him and others from buying more. >> the activist comes, in the company strikes back. as you point out, the damage largely done to sotheby's at this point. >> if you wanted to be really be effective, you might have put it in before his ability to go from 5.4 to 9.3. only about a $3. -- let's go back to twitter. who prints out an entire s-1? >> this has been a fascinating one to look through. we don't have the jobs report today so we have to have something to look through th