>> cooper: what they all have in common is danny meyer's philosophy of hospitality, which he pioneeredrd for the industry. >> meyer: tell me if that's the best chocolate chip cookie you've ever had. hospitality basically says that the most important business principle at work, way beyond that the food taste great-- and by the way, if the food doesn't taste great, you're never coming back here. but if the food tastes great, that alone does not assure that you will come back here. so what hospitality does, is it adds the way we made you feel, to how good the food tasted. >> cooper: so the experience of dining out for you is the most important thing? >> meyer: i think the experience of how you are made to feel is the most important thing. >> server: good morning. welcome. >> cooper: the key, he says, is to hire people who are intuitive and empathetic. he has more than 2,000 employees, and he trains them to pick up on the customers' cues. >> meyer: everyone on earth is walking around life wearing an invisible sign that says, "make me feel important." and your job is to understand the size

that's right, it is danny meyer. have you here. -- youe been talking created a small business from scratch. 1985, was it? >> it started in 1985 and we continue to be small business entrepreneurs. launched five new businesses in one year. you kindifference is, of know a few lessons from getting kicked in the rear end, and our goal is to make mistakes and avoid making the old ones. david: how has the environment changed from 1985? >> dramatically, from the food business, the biggest change, number one, the hospitality and food world has become one of the most validated entrepreneurial career paths. my head down and admit to my parents that i was going to a profession they never thought i should do back in those days. but now it is a place a lot of people go. the other thing that is different is that more and more people are what we call foodies. it, they pictures of talk about it, they blog about it, they yelp about it. it has become a passion and it is a great time to be a food consumer, and there is more ways to eat

. >> earlier conversation danny meyer also thinking about it. i don't think he made it to the lsat. you did. >> well, you know, anybody can go in. yeah. so i wanted to be a lawyer. my dad was a lawyer. he used to get me out of school to watch closing arguments and something very important to me. i had been debating in high school and college. and i took the lsat to get into law school and basically failed it. i'm a really bad test taker. i took the course and failed it, basically. so i always say failure like that is life's way of nudging you and letting you know you are off course. >> you scaled a business. one of the things that's really hard, i mean, you are a passionate entrepreneur who cares deeply about your successes and your brand. how did you build a team? and what happens when you bring someone in -- how would you describe the culture i guess one question, and when something didn't fit with that culture or someone, how did you deal with that? those are tough decisions. >> they are tough decisions. i mean, culture is really important. so i would describe spanx culture as en

sleepy trading floors get the joke they have been waiting for after a long period of .nusualcalm danny meyerve from the 10,000 small businesses summit in washington. let's get straight to u.s. markets. if we look at where they are right now, we see building on yesterday's game. : but if you look at them an hour ago, they would be pulling back. i shouldn't

it is down 8% for danny meyers >> my friend could tell me this could happen they were up and they'reking about flat same store sales which include a 1.5% to 2% menu increase they are still valued way too high against others putting up fantastic numbers like wendys, burger king. they're not. i wonder if the price is too high i don't know but something is wrong and they're going to have to address it. you can't have at this stage o a growth story flat same store sales. you to reassess what exactly is going on and get it right. right now they're not getting it right. i happen to love to go there >> i do but not quite as much as i did initially. it doesn't quite do it for me the way it did -- >> there was a lot of excitement, and i now look at the calories and that's a real problem. the calories get posted for an egg mcmuffin it's 330 and for these the calories are high. once you got them on the menu, you're like wow, i'm being one of these -- >> a wild boar they're frightening and they have no natural enemy. i want to introduce a stock to you. red hat reported a weaker quarter. people d

i have been to shake shack, but we will talk to danny meyer about what it is to make a business and lloyd

i have been to shake shack, but we will talk to danny meyer about what it is to make a andness and lloyd blankfein we will talk to him about why he is doing it and what it is come -- what has come from it. alix: i hope we can sneak something in there about their activity. are they seeing a pick up here? david: i have -- burned in my brain just for you. i will ask about it just for you. this is the morning brief. at 8:00, the cleveland fed president will beginning a talk on monetary policy and the economic outlook. at 11:30, the u.s. treasuries will be optioning $50 billion in bills and after the bell, metlife will be recording its earnings -- reporting its earnings. alix: two and a half hours until the cash open in the u.s. and it's a modest risk up kind of day. kind of moves become the new normal? the u.s. dollar pretty much on the back foot all day. and sell is buy bonds peripheral bonds. yields moving lower by about three basis points in the u.s.. $60 aalso weaker, under barrel. my chart of the morning, i feel like everyone on the street is talking about it. dollar-yen breaking throug