davos is invitation-only. cost from $30,000 to $500,000; and then it's 18 grand each for the coveted white badges that grant entry and are worn like jewelry. you know, i've noticed that there's something that i like to call the davos glance. when you meet someone, they do not look you in the eye. they look you in the chest. >> well, no. they look you in the eye first, then they look down at your chest. the other thing they do is look over your shoulder for the next one. >> to see who else is coming into the room? >> exactly. [ticking] >> it isn't all business at davos. what is the coolest that has happened to you in all your trips to davos? >> probably the audi challenge. >> when 60 minutes on cnbc continues. [ticking] it's a new day. if your a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women,

which sounds like a good time but who would make this different from other only events that go on davos for example or some of these all their elite gatherings well it's actually very different because if you look at davos or aspen even though many of the events are invitation only a lot of it is open to the public and the goal is sort of to you know better the world and have all these thought leaders coming together to share their ideas with the public and you can watch things on you tube and all that bohemian grove is completely different you have no idea what goes on there you don't know who's attending every year you don't know what they talk about and bohemian grove even says that they are not trying to better the world they're not trying to gather people together to come up with ideas that will be world changing they just want it to be sort of a retreat i guess that's how it's described as a retreat and some are going to say you know why not you know these people have the right to have their their private gatherings and private time away from the public eye sure i think the proble

it is the idea, i think this happened in davos, you announced you would bring together a group of sort of brain trust of sorts, but not so much in terms o of finance but n terms of what? what was the idea behind the idea? >> i mean we have an advisory council and that's who w we met with in hon hong kong, as i mentioned earlier, one of the perspectives i and the management team needs what goes on in the world because at the end of the day i live in the united states and travel the world but you don't have the same perspective as advisor board members from australia and hong kong and the middle east and turkey an england and, you know, a couple in the united states, so what they do is bring a perspective and as ceo you are always looking for perspective and you have all of these people tell you everything but you are looking for somebody to say you know what? here is how to think about what is going on in turkey and may be something that sparks either an opportunity or go bag to the risk management question, we ought to go take a look at how this works. so we had our first day and a hal

this year, in davos, at the world economic forum, there were all of these sessions about-and bringing the qualities of leadership to the forefront. that involves knowing how to renew yourself. tavis: how are the issues regard to paid leave for women and men when babies are born? >> they are much more liberal about paid leave. that -- they realize that that is the way to pay the best talent. retention is one of the biggest battles we are facing. people are becoming less attached to a particular company or employer. when they do not really care for someone as a human being, not just as a machine producing stuff, you are going to be able to repay employees at a much higher rate. tavis: patriarchy is real. male privilege israel. sometimes, even with that being the case, we miss the mark when it comes to certain issues. i was fascinated to read a variety of pieces about the decision by ms. mayer at yahoo!, that all the employees had to report back to the company headquarters. there were women's pieces i've read who cautioned her, took one approach to what that meant for women in the workpl

two years ago three years ago four years ago it's been sitting in these erika's for years well at davos the world economic forum in two thousand and eleven we didn't see it we didn't cover here on the kaiser report the fact that bankers there said that we need one hundred trillion dollars so that was their number that's how much they need that's how much they are going to at the end of the day have to confiscate to inflation through deposit levies through a id through lehman brothers through m.f. global the world but before there was m.f. global and a lot of people are saying that the cyprus situation reminds them of junk or resign and j.p. morgan just taking segregated client funds which is again supposed to be a taboo nobody's supposed to do that just like you're not supposed to take deposit or funds but before all of this there was refco and i want to go to two thousand and five october two thousand and five refco had just collapsed it was a commodities futures broker and it collapsed and here. the song max keiser did it live . live two hundred fifty trillion dollars love the real. k

i reminded him of that interview when we met again in davo, switzerland. mr.ng us. >> translator: good day. >> the last time we met, prime minister, you were president. i asked you a question. do you expect that you will serve a second term. you seemed optimistic of the that you would serve a second term. but youen didn't. >> translator: if you really want to know, let me tell you. we achieved the main goal to ensure continuity, just like any political competition, we made sure that the political forces that we represent will stay in power for years to come. and the people supported us. i am often asked, why did you do this? well, let me ask you a question. what was i supposed to do? start a race with my close colleague? with my friend? for what reason? >> so, it was his decision more than yours? >> translator: can you imagine that inside one political party there unraveled such a battle? it is pointless, it would be counterproductive. >> the united states congress has fast trade letters with russia which ties trade with russia to certain issues of corruption,

businesses today, the ones at davos who are being heralded are the ones who are looking about the longer term futures of the companies on the world and seeing them as interdependent and interconnected and mutually interdependent. is the concept of sustainability. benny's today, kimberly-clark -- some companies today like kimberly clarke are thinking about where they are going and are making serious changes. the lorax is a perfect example of how they see their businesses. many companies have a sustainable chief officer. the common sustainability and innovation. the new watchword is that they are decoupling growth from scarcity of resources. that is perfect for the lorax. hannah jones spoke last week on the stage with president clinton. she says again and again in every speech, we are decoupling growth from scarcity of resources. that is exactly the lorax's issue -- growth, growth, growth, but scarcity of resources destroys the business. we cannot continue to make our product out of resources that are increasingly scarce with a population that is growing. we are moving toward using 1.5 tim

andrew, i remember not but several weeks ago you were at the charming mountain get away at davos. said to me in not so many words, we will be living on the fiscal cliff for many years. do you still take that stance? >> 120%. the idea of a grand bargain i think is over. the idea there's a passing game anymore, that's off the table. to the extend there's any game, a ground game about picking up yards and inches along the way. that's as good as we're going to get at this point. i think when you look at the various proposals that have been put out there, whether it's patty murray or paul ryan, we are at such loggerheads and so far away. i'd like to think there are places we could have some meetings of the minds but i don't see it in a grand bargain way, i see distinct specific issues maybe we can get closer but i don't think that the big one's on the table. >> john, do you agree with that? i tend to think just because of the virtue of the fact the senate democrats' budget has both revenue and spending in there, it is more of a sort of middle ground document. republicans seem very inte

i remember, you know, we were in davos, speaking to home experts and said look, we still have to be cautioussix or seven months of good u.s. data doesn't mean we've finally turned a corner. can we be more confident now? >> yes, i think we can. i think we've definitely turned the corner. what we could still see, those, are some ups and downs. i think the trajectory will be forward, but we have a lot of stumbling blocks still in the way. we're trying to rebuild an industry that's been almost nonexistent for several years and it's going to take a while to bring that back. >> and how spotty is it? i know here in london, you can have a different housing market from about three streets away and, of course, the u.s. is about 20 times the size. >> but the same analogy holds true. there are spots in some markets that are doing it very well and yet there are other places, typically at the edge of the metropolitan area is where they're still struggling. where they're still demand yet to be found. and there's also different states that are doing better than others. the energy states are doing the best b

bill gates spoke at davos, said there are social benefits for this, people have mobility with their moneyure than having dollar bills or plastic card in your wallet. sandra: is it really? i'm in cabs where they hand me the cell phone to swipe the credit card. i know there are different forms of this mobile banking but, people are still really concerned about security breaches right now. do you think we can overcome that? >> i definitely think we can. if you remember, 10, 15 years ago, people were very concerned about giving their credit card away on the internet, once society realized you unlock a huge powerful engine of commerce there --. sandra: a lot of people have gotten burned too. >> you become more intelligent consumers. businesses realize there are certain things you need to do with cybersecurity and authentication. there are practical hurdles. i will act like there is not. there are logistical hurdles and cost concerns but there is no reason why the next three, five, 10 years, this could not be a much more previous vent occurrence. look at 10 years how far we've come with cash. y

. >>> earlier this year in davos i spoke with the ceo of soho china.hat she told me of china's economy and real estate. >> everything is slowing down in china. and, you know, people's mood generally is in a very negative -- you talk to chinese, you talk to people talking about china, it's negative. i don't remember china being seen so negative in recent 20 years. >> so if the real estate bubble bursts, how bad will the ripple effects be around the world? i'm joined by peter navarro and also with us ang lee. good to see you both. thanks for joining us. >> hey. >> thanks for having us. >> peter, kick us off here. is this a legitimate worry? >> it's a huge worry. i'd say if china's growth falls below 5% that bubble will probably collapse. the reason we worry about that here in america and in europe is that if the chinese economy collapses, what's going to happen is they're going to dump even more products into the u.s. whether it's steel, autos, whatever. that will slow us down. then of course globally you've got the commodity countries australia, brazil,

that was in davos two years ago. i wasn't technically supposed to be on tv.ecided to embarrass me. >> davos is next to glen cove in long island? >> not far. >> we should caption that picture and call it the yasnook of new york. >> i like that. >>> we are glad you're here. i want you and julian to talk about something on my mind for many, many months. came off the top of my meager mind yesterday. the standard and poor's record highs. but still thousands of people without work and millions of people filled with angst with their detail economy. there are two economies. >> there are. two economies in america and the headline we just had on the screen from the "wall street journal" says it all best. it's not the sgarvel thgamble g the market has very little to do i would argue with the underlying fundamentals of the economy that the people actually feel. the folks watching this show when you talk about 7.7% unemployment. what is happening they are gambling on something, there it is a show of faith in the fed is what the gamble is about. it's not saying look. the e

our conversations from davos. you'll find out why building big, kelly, does not necessarily translate into healthy profits and why the company is deciding to stay in greece despite the eurozone debt crisis. >> thanks very much. that is a program you won't want to miss. >>> the faa is not -- what does this mean to the suppliers for the dreamliner fleet? >> hi, kelly. the nikkei 225 stretched today winning streak into a sixth day, renewing the 2013 high up 0.3%. the rise was modest compared to yesterday anticipates 0.2% surge, but despite that, the benchmark index dropped for the first time since december 2008. >> the pung the top gainers, stocks jumped nearly is 1% at one point on news that the faa is closing to signing off on a certification plan. this plan could allow boeing to carry out test flights of the 787. authorities will determine whether to lift the flight's ban or not during this test. hinting that its relation with the aircraft manufacturer is still firm. that's all from nikkei business report. back to

>> the mood as we discussed in davos was much more positive this year m i think people realize that thess than perfect, and there's a crisis of the moment, and ewe -- you can almost predict them now. business leaders need a vision and strategy and need to execute that strategy. >> going into 25 segments now, sports entertainment. you have a new product for the san fransisco 49ers, helping the football team manage the back end. that's cool. >> what we love to do, cheryl, is we love to make the fan happy. if you think about the average mother or father taking the daughter or son to a game, you want to make sure that's the greatst day of their life. they are connected on the mobile before they get to the game. then they submit their ticket. now you know who they are, where they are sitting, who their favorite player is, their birthday, upsell, cross sell, and make them so happy. also, the teams, they need to run like best run businesses. the visionary owner of the 49ers runs the business on sap. best of all, roger, the way he runs the nfl says, hey, i have to put the nfl on realtime on sap

a little warmer than the last time we spoke in davos. >> indeed. >> how long before we start doing somemage? >> well, probably a couple of months. i mean, just to give you a sense, if we go up into the sequester and stay there the whole year, basically, those 85 billion in cuts, it would cut gdp growth from about 2% this year to about 1.5%. and would raise the unemployment rate by about 0.3% relative to where it otherwise would have been. so this damage, it's not horrible, but there is damage that could be inflicted here. >> nariman, what would gdp and unemployment look like in the u.s. this year? >> well, after the sequester, you know, we could come back up. but i mean, the unemployment rate with the sequester is probably going to hang in there around 7.8%, 7.9%. if they resolve the sequester, it could probably go down to about 7.5%, somewhere in that ballpark. it will have an impact, no question about it. >> and it's interesting, nariman, earlier in the we're we were speaking to people and they were saying, if it hurts growth, we will see weaker numbers in things such as crude. it has

up, and we have the bookend the argument and the activity and start at global economic forums and davoshigh schools and fundamentally change the structure of organizations, the work schedule, time, the quality of work, not quantity of work. >> and the mentoring piece, we tend to think that women have to mentor other women, and one of sandberg's clear points is that it was larry summers and a variety of men who had access to power who helped to bring her along and it felt to me that was in part saying, men, this is your responsibility to diversify this workforce. >> and women harm themselves when they wait around for only a women or the, and i have had in my career a lot of men who have stepped forward to say, i will give you an opportunity, and the man who hired me is a man, david wilson, so you have a diversity of potential mentors, but at the same time, too, you know, we don't necessarily get the same feedback from even our attempts to supersede all of the barriers, right? you have had the women who have made the choice to pursue the careers and all people ask about is why isn't she m

in davos, for example, you saw suddenly all these sessions around mindful leadership. ceos. a psychology from oxford talking about mindfulness. tell us a little bit about what you see as this critical mass tipping point around this issue, around american corporations. >> arianna and i were doing a session with young leaders. they were really a caught up in it. general mills has been a p pioneer. aetna on the east coast. there have been studies on this. so i see what's happening. one reason it's happening, it's going to improve your long-term bottom line. >> i can't imagine huffington post saying praying -- >> are you kidding me? we have a fantastic section that covers praying. no difference in prayer and meditation. no difference at all. >> jeff, do you buy into this? >> you know, believe it or not, i do. i often come in as a cynic of the new thing of fads. i don't think that's what's going on here. we all remember the art of japanese management and even getting into caye zone practices. there's a book coming out on corporate purposes these days, empowersment. the whol

this is like davos and you see the buzz and you instantly know, this part of the world is growing and this part of the world is suffering. compare this year to last year. >> it's remarkable. we are looking at companies every day, but what we're seeing here compared to singapore is the u.s. and our european counterparts are back. there's a lot of discussion. remarkably, below the rate a screen area that's picking up is africa, infrastructure, energy. so for a change, it's not just all about asia. ceos are talking amongst themselves and is looking at the next space. >> in a way that hasn't been true over the next several years? >> absolutely. 100% so. the buzz is there. you're in the front line. you're talking to ceos that are leading roughly 10% of the world economy and they're there. >> you said you're looking at the periphery of europe to do deals. >> that is correct. so basically what we're doing is we're avoiding countries like the u.s., france and germany and we're looking at eastern europe. in our global powers only a couple of months ago, eastern europe is the most vibrant areas