i think this is such an arcane area, donahoe should not call the shots. like motorola where xander was losing $8 billion. donahoe even if he were as smart as some people think he is, which i don't, i am not here to criticize him completely. i am here to see change made. cherylcharlie: let's make a chao herbalife today because there was news you got three more board seats. you own five board seats. i understand you want, and i want to hear your words, you want them to be more aggressive in attacking bill ackman? >icahn: that is not entirely correct. if i go back to one thing about ebay before we leave that topic. even the two guys we're going after, one guy named fred anderson, he had to resign from apple because he was backdating options. 15 times. this is a guy that is supposed to be protecting shareholder interest. all i know is that is one of the guys to go after. charlie: what is the endgame with them? you said something interesting about it picked up 1 of your other interviews, ackman has investors too. i started thinking is it possible that karl now

and, you know, but donahoe has not done a good job.machines at e-bay that keep spinning this stuff out. it's like the upper has no close. keep spinning out donahoe's done a good job, he has not -- >> depends by what metric, right, carl? >> i'll give you the metrics. >> they would fight back and say, wait a minute, since -- in john's first five years the stock's up more than 500%. >> baloney. the stock up 76% since the day he came on. i'll check it out again, it's up 77% a stock that the other stocks that have gone up in that period are his peers. let's look at his peers. his peers are up 470% at amazon 280% at visa and mastercard i don't know 300%. so if you look at it he's done a less than mediocre job. start with that. but what's even more troubling is look at his board that keeps saying there's a world class board. and just look at it for one second. if your father had left your company and you went and came back how would you feel if the guy you left in charge sold a company -- sold a company to microsoft -- rather sold a company t

. >> he did save a lot of his criticism for donahoe.said look andreessen if he can get away with it why not. >> this was a remarkable breathtaking interview, because icahn has seen -- you mentioned chesapeake. some tremendous situations of conflicts and he's really hanging it on this. i think the "squawk" team said rightly there's some hyperbole here, there's an interview with donahoe in "the wall street journal" that makes it seem okay. there was a dispute between andrew ross sorkin and carl how much conflict there was in the skype thing. but the west coast does things differently from the east coast. they are willing to have andreessen leave the room because they want his advice. carl wants everybody to be neutral. he did compare the system of corporate governance to elections in our government and said that our government's far more accountable because there's real elections. i think the idea that there's real elections in corporate just doesn't happened. >> you talked about the way he approaches this kind of thing, helping at motoro

it has a great strategy thanks to john donahoe restructuring.hink carl icahn is going the wrong way. i wish he would go back to revitalizing more companies that need help. >> why do you say carl is going the wrong way? >> well, ebay has proven that paypal and their marketplace work well together, give them a great platform. if i were on that board, i would be saying the opposite. look at the way google and facebook are moving here and what can we do to broaden our platform to be more successful? we do not want to be like nokia or blackberry within narrow platform. we need to make it more mobile and make it available to everyone. what are we going to add to it? i think taking a money -- a company apart like this makes no sense to me. >> even if ebay is a great company and even if donahoe is doing the right thing, when carl icahn comes banging on your front door, what do you do? course.tay the you make sure that you are prepared. you believe in the strategy and stick to it. you analyze your business. you know that it makes sense, that synergies ar

donahoe also met with institutional investors to make a pitch to paypal along with ebay. amazon is raising the price of its amazon prime membership. current members are being sent reminders about their renewal dates, and when they have to pay the higher cost. the move is expected to generate millions in additional revenue for amazon. now, to the inside story of that massive target data breach. we start with a look back at the timeline of events that led to the data theft that touch as many as one in three american consumers. >> the first time the public heard that target had been hacked on was december 18. the bridge itself actually began sometime before then. so what did target know and when did they know it? hackers began capturing credit card data on november 27. three years later the malware was spotted. target had paid $1.6 million because of its ability to detect hacking in real-time. a security worker in india saudi fire eye alarm and send it to the minneapolis center. the alert is overlooked. december second, security tools detected another version. this red flag

it is the latest round of icahn taking on ebay ceo john donahoe and marc andreessen among others but will uncle carl come out on top. here is the rumble, charlie gasparino's to lee munson. thanks for joining us. lee, i will let you go first. who do you like in this matchup? >> i don't like carl icahn in general. this guy is a pie rate and mercenary by any other name means the same. i love how the media portrayed this guy as uncle carl. >> i made that up. i made that up. melissa: media. we're always to blame. >> make it like brand x at cnbc. melissa: i'm not familiar with that company. go ahead, lee. >> here is what i think investors have to remember. whatever carl icahn is doing the same thing he did as corporate raider before he became shareholder activist. he is going in there to push around ceos to do things for short-term profit. that doesn't help investors long term. also media gives perception whatever uncle carl is doing we should doing that with our retirement funds. >> i wish you would stop saying media. melissa: go ahead, charlie. >> i want credit for that. i should have tr

the reason it's going up is not because donahoe, people had an epiphany that he's a great man. reason it's going up and wasn't languishing and by the way, this year, with every other company in the peer group, went up 40%, 50%, 60%, these guys went up 2%. the reason they're up now is only because we're there and there's a hope, just a glimmer of hope they are going to do some kind of separation. it's a very badly run company. by a board that's extremely shall we say the word probably is ineffectual. >> they're pulling their hair out in the control room. but i cannot let you go without asking your reaction to the "new york times" article today regarding herbalife and bill ackman questioning some of his motives on how he's gone about this whole herbalife thing. do you think mr. ackman has gone too far? >> look, i think just going, seeing -- what ackman has been doing makes you really wonder why he's doing this. it's gotten to a point that i think is almost bordering on the insane. i don't understand where he's going and what is happening here. he's just on some kind of crusade. w

ebay executive john donahoe's pay for 20-13 fell 53% to 13 million dollars. in a statement, ebay says the company's financial performance "did not fully meet expectations." ebay's stock rose 8% in 20-13. the e-tailer is currently the target of activist investor carl icahn, who wants to split ebay and paypal into two companies. the terms of a new lawsuit brought against carnival cruise lines are becoming clearer. a group of passengers on board the ill-fated triumph ship that was stranded for 5 days in the gulf of mexico want $5-thousand per month for the rest of their lives for medical bills and mental anguish. carnival cruise lines calls the suit "a money grab." maritime lawyers think this class-action suit could change the legal wall that cruise lines have long enjoyed. passengers typically sign away almost all their rights before getting on board. jc penney is becoming a better fit for investors. the share price has bounced back considerably, up more than 70% from an all-time low about a month ago. closing yesterday above eight dollars. citigroup analysts c

the business was broken five when donahoe got there. now it is really emerging. continuing to advance the changes in the marketplace. that is was a great silicon valley leaders are doing today, they are adapting rapidly. i cannot say that for microsoft. i see it at google and apple and ebay and some of these very successful companies. use a platform like paypal to really advance the capabilities you have. innovation,for that's for sure. thank you very much. company of this network is an investor in his firm. >> i am all for full disclosure. automakers are catering to the wealthy. we will take a look at 2014's most expensive cars. les, a mobile app that may change the way we shop. we will be joined by the ceo of towa technologies, next. ♪ >> washington, d.c., city council has voted to decriminalize marijuana consumption, adding the nation's capital to a growing list of states lifting sanctions for using the drug. loan the punishment for possession as -- of as much as one ounce of marijuana to a fine instead of potential jail time. congress can reject it, should it

i'll tell you with the moves that google and facebook are making, unless e-bay continues under john donahoe, continues to invest and build their platform with pay pal and other aspects, they're not going to be as competitive in the global market. that's what we in america need. great global companies going after the global markets, like pepsico is doing, like coca-cola is doing. i think that's really critical that we're investing in a long-term future growth. and yes, we want to give fair dividends back to our shareholders. if we have excess cash, exxon generates a lot of cash and have good shareholder return policies. unless you have a lot of excess cash i don't think you should be giving it all back to shareholders but investing for the growth of the company. >> let's get don into this conversation. i know you're on the other side of this debate. make a case why people like carl icahn or dan loeb are working on behalf of shareholders and for the best interests of the company. >> well, first of all, i do disagree. i think in general corporate management are more focused on doing what's goo

john donahoe is touting how shareholders come out and say we have seen some good tings here.icon is going after authority of the company and the board itself will stop -- the board itself. >> it's nothing if not resilient. rex the founder of the ebay board -- he's contending mr. cook allegedly told ebay we would like for you not to try to recruit any of our people into intuit. >> the department of justice is doing an investigation about that ring. about thegreat point employees that haven't been able to go from company to company. it is a real concern there. is going to take everything he can to throw at these guys. the notion that wall street can get a quick payout -- this is what can happen when you give control of your company to shareholders for whatever the duration of benefits to think taskedop the board is with a long-term benefit of that company and it's an important distinction made by the time warner, at the time, warner bros. merger and going with a cheaper author then they would have -- cheaper offer than they would have gotten otherwise. the board can say we thin

john donahoe has been out and about talking to people. was saying that it should be -- this is the question they ask themselves every year. they aren't satisfied yet that splitting up would ye crate more value. i still think there is an argument for doing so. one of the things i'm thinking, why not create a tracking -- remember the tracking stocks. >> those were screwy, though. >> they were terrible. they had bad governance. you got a virtual economic interest. if it's about value, why not see what the market suggests. >> rob, isn't part of what carl suggesting structurally, you could get real focus. if you're getting a tracking stock you're shuffling paper. >> absolutely. one of the arguments they make, they say they get 30% of new customers to paypal from the ebay auctions business. that of course implies that 70% are coming from somewhere else. that 30% number is shrinking every year. i think that's true. you could do a 20% -- put 20% on the market. you then still have control. because i think there's obviously a concern about this thi

john donahoe received 13.8 million dollars in total compensation last year, up 50 -- from 2012.3% drop google wants android to be the goto platform for wearable computing, google glass. android them to create apps for wearable devices. aey say this could be used on wide variety of wearables, including a possible smart jacket. hackers have reportedly broken in to the service of mount goss to find out where bitcoin was. reports say the hackers found information indicating the mount cox executive has kept bitcoins for themselves. lost 850,000 bitcoins. snowdenead, edward speaks via videoconference from russia to sxsw. cory johnson joining us. sees really interesting to he chose the technology community to address these. class an amazing moment we have a guy not welcome in the united states. talking with great irony about how to make the internet more secure when his experience has been sharing things with the internet. the -- put theok responsibility on tech companies to think about security first when developing a product. i want you to have a quick listen on what he said. qwest the nsa,

it is the latest round of icahn taking on ebay ceo john donahoe and marc andreessen among others butt on top. here is the rumble, charlie gasparino's to lee munson. thanks for joining us. lee, i will let you go first. who do you like in this matchup? >> i don't like carl icahn in general. this guy is a pie rate and mercenary by any other name means the same. i

john donahoe is stepping up his game at ebay against harel icsahn who wants ebay to spin up paypal. he has consulted with other icahn targets including tim cook and reed hastings for advice on how to handle the activist investor. he has met with goldman sachs and institutional investors to make his pitch that paypal belongs with ebay. the ende era -- it is of an era for google. it has removed underlined links from his desktop search page print of shown up as underlined links when it first launched back in 1996. it has increased the size of results and even doubt the height of lines to make the desktop page easier to read and more consistent with the google mobile site. the inside story of that massive target data breach -- we start with a look back at the timeline of events that led to the data breach that touch as many as one in three american consumers. >> the first time the public heard the target had been hacked was on december 18, 2013. a blogger revealed the company was investigating a massive breach. the breach itself actually began some time before that. what did target now

john donahoe is saying carl icahn's campaign to get the company to split off paypal will only get louderay and icahn have been sparring sometimes on a daily basis when icahn went public with this message. the board believes paypal works best when it's integrated with ebay's core marketplace business. >> our customers want seamless experiences. customers don't think about shopping and paying as two separate things. the noise is going to get louder over the next four to six to eight weeks. don't pay attention to the noise. stay focused. and don't be distracted. >> certainly not just talking to employees. they are addressing shareholders, i would imagine. icahn owns just over 2% of ebay. earlier this week, smead capital, which owns less than 1% spoke out in support of management's view that paypal should stay in the fold. those shares are flat to the downside. it's going be a very, very busy shareholder season this year with these activists investors making so much noise. the interesting thing about ebay, guys, is that it used to be that pay pal was fast growing, ebay was slower. now ebay i

john donahoe is responding. carl icahn makes his comments on cnbc, john on fox business.m a messaging point this is a bit of a problem. according to nielson three times as many are watching icon on cnbc than on fox business. let me point out cnbc is our sister network. >> talking about the 9ers now. jim harbaugh reverted back to his basketball days. harbaugh drain add half court shot visiting the team there. he was giving athlete as pep talk before the match-up against texas tech. the most impressive thing he did make the shots in the typical look, the black crew neck shirt t 49ers cap, and the pleaded khakis. >> a manual never find in mom khakis is anthony slaughter. he joins us this morning. good morning. >> never. never. let's talk about some weather. we're looking at some rain that moved through overnight. threw me for that one, scott. we're looking at rain. in fact, right now the rain is clearing out so skies are starting to part. once the sun comes up we'll see a good amount of sunshine. temperatures not as warm as they were yesterday, out of the 70s into the 60s fo

they have not, meaning andreessen nor dan a hoe, ceo of ebay -- donahoe, ceo of ebay addressed this head on. he makes an. when he was on board of ebay he and another private equity firm silver lake, bought skype from them and resold it for a huge amount of money. that is serious stuff. melissa: bought it for 1.9 billion. turned it around 18 months later and sold it for 18.5. >> incredible amount of money. there has to be logical explanation of this. they should step up to the plate. i said that is one part of problem i see here. the other part of the problem is how the tech media, i really mean this to all of my friends in the tech media, they are in bed with their sources. i mean people say, you know, everybody has sources. melissa: oh. >> listen, we go out, listen you have to have some relations with these banks. i understand that. you're not adversaries to them all the time but i don't think anybody can say i'm nice to all these guys. melissa: you're an adversary a lot of the time. >> what i'm saying there is absolutely no, no questioning of whether this was a good deal. i'm reading a

i might blame donahoe more than him for letting it happen. >> so josh brown, let's do this. probably some high per wholy in there but what do you think is going to happen and would it impact the way you invest in ebay right now. >> i wouldn't invest in ebay right now but if pay pal were a stand alone entity i would probably invest in that. >> are you saying that carl is right then? >> i think he's right that these two businesses don't really have any synergy and very little reason for them to be attached to each other. quite frankly, not high on the prospects of ebay but i like y paypal. as far as the board itself, i don't study that stuff. i tend to agree with carl with the fact that paypal would be a rock star stock if its were its own thing. >> i agree. i think josh is exactly right about that. i don't think it's like pepsi where you're saying here's a salty snack that feeds into the rest of our businesses. >> right. >> i don't know that it works that same way with ebay. yes, i know that people use paypal to pay for things on ebay but paypal would be a monster separate fr

. ♪ >> karel icon says donahoe's inexcusable incompetence, a direct quote, call shareholders more thanhere with more, cory johnson and brian blair from wedge partners. let me start with you since you were out there on the left coast, what is your reaction to this? karel icon has been doing this a lot, 30-40 years. -- carl ichan. is relatively new to technology. big tex companies are not accustomed to that. i think they are not terribly fond of him rattling cages. specifically what he is after is not just his own board members, but a big change at ebay. i think that is the place where the analysis might offer the most benefit. quick take is that he is right. he made money on this deal. ebay only made a small amount of money. initially bought for 3 million and sold for 8 billion. he is right in his assessment of this. i think what is interesting is rude, absolutely rude to management about this. here is someone who trades in and out of stocks every single day and know sometimes you do not make the baltimore amount of money on a trade. that is all it was, a trade. nothing more than that.

john donahoe has clearly passed the test of doing that. that is what you have to be prepared.volved in activist fights with carl icahn over time warner and john who -- time warner and yahoo! >> ebay is undervalued. we own ebay. i think he has brought up a weakness in the governance of said -- they're both high-quality guys. having a board member recused himself and have his firm by something that ebay is not selling, they have to believe they're earning an above average return on that price. ebay is going to earn a below average return by selling at that price. as a board member, i think you should be arguing against that. >> nicely said. this is the critical point -- if it's a use of cash debate, can a board shift to make a better use of cash for shareholders echo is there an experience that that will occur at ebay? acquisitionso for cash. i don't see any reason. i think the real issue is building up a platform. their issue is as much google is anything else. they have to build a broadly based platform. they have been on the leading edge of mobile in that. they have competito

ebay ceo john donahoe received 14 million in total compensation last year.2012 when he was ranted a lot -- large stock award. was only 82% because the company fell short of the 2000 13 financial goals. apple has released a software update. 7.1 implements new design changes and fixes bug that causes funds to crash. -- causes bones to crash. analyst on wall street time to figure out a spoke huge rally. shares have risen 32% so far this year, compared to an average of one .6%. 38 of the major analyst to cover the company give it a vibrating - give it a buy rating. catch the latest in tech and media every day only on bloomberg "west." been called many things, around for, fashion icon and can soon add media mogul. have ac does not it used to.e back in the day there used to be american bandstand, before that .d sullivan soul train. there was a place that you could go to for music to tell your story. now artists we find ourselves going to " dancing with the problemwhich is not a or performing even on " good music ismerica" and getting consumed of the highest rate e

. >> what would you say to john donahoe, the ceo of ebay? >> i would say, makes a business work.the biggest way to fend off someone like carl icahn. >> is he there? >> no. paypal is starting to become aggressive outside of ebay, but not enough. ebay itself is struggling. >> bill harris, former ceo of paypal and former ceo of intuit. >> i will do it for report right now. it is a stronger ruble. dollar-ruble. i would watch euro-dollar as well. australian dollar doing better. hour, the former goodman a straight of a regulatory affairs at the white house will be joining us. ♪ >> this is "bloomberg surveillance." >> the atlas is a redrawn and putin will not back down. it is fed day. janet yellen holds her first press conference. the friends that let you down. republicans disappoint wall street. good morning, everyone. this is "bloomberg surveillance ." it is wednesday, march 19. i am tom keene. joining me, scarlet fu and adam johnson. our guest host this hour is cass sunstein. we will look at his new book on conspiracy theories. time for our morning brief. >> overnight, the u.k. unemp

i might blame donahoe more than andreessen for making that happen. a half later, they bought it for $2.7 billion and sold it for $8.5 billion. you don't have to be a genius to understand that there's something wrong. >> i remember covering that transaction well. it's andrew now speaking. and there were no bitters. and just to put it in context, that $4.5 billion that you were suggesting marc was part of, he was part of it. i think he had 3% of that. when you go back and look through the history, you know, some people have suggested this is a bit of a rewrite of history, this idea that there were these other bidders there that did not exist. you don't buy that? >> hey, ross, you know, i've watched a long time. i can't believe that you're naive enough to believe there were no bidders. you know, this is like a myth. when you go to these companies, i can't tell you how many i've been involved with. but they say nobody's going to buy it. nobody wants to buy it. if a company doesn't want to be bought, somebody -- they're not going to come in and buy it. bu

wasn't here yesterday, of course, every day is a new chapter in the fight between ebay, its ceo john donahoein particular marc andreessen and one carl ixawn and today is another day and, yes, we have another misive, if you will. this time it comes from mr. andreessen in response to mr. icahn perhaps it was yesterday. there he is saying carl icahn's 2014 would look askance at carl icahn's 1985 choice of a business partner. this is getting ugly. when ivan bosky is the first name it's gotten down in the dirt. suggested bosky look into the share of gulf and western, i won't go into the details of this point of the letter, you can find it on andreessen's blog, his weblog at pmarket.com. but suffice to say this continues to get even nastier. we got ebay's response to icahn's nominees summarily dismissing the two of them as not overqualified and overboarded meaning they are on too many boards to begin. and andreessen is on facebook and hp and ebay's board, his argument would be, you want me on those boards in terms of my technical expertise, look who else is on many of the boards. there's not the c

john donahoe has reached out to tim cook and netflix, both of those companies were parts of icahn. catch all the latest in tech and media every weekday at 1:00 only on "bloomberg west." gopro is one of the fastest growing digital companies in america, no doubt thanks to all the while the extreme videos users upload every day. we challenged our very own sam grobart to make the most extreme gopro video he could think of, and this is what he came up with. so exciting. i've never seen it that exciting. every day life. that was sam grobart on his gopro. coming up, bob wright is "in the loop." we will weigh in on everything from warren buffett tv to news about an ipo. ♪ it is 56 minutes past the hour. your check, right after retail sales. >> better than expected. futures pointing to a higher open. s&p up by almost 4 points. dow futures gaining 30. retail sales gaining for the first time in three months. jobless claims fell unexpectedly. in terms of treasuries, we saw a bit of a reversal. prices are down now. yields are rising for the first time in four days. yields have been falling all

around ebay, reed hoffman defended why paypal belongs with ebay and defending the company and john donahoe now finally firing back on his own sake. remember, he's on the board of facebook, hp, and ebay. this larger question of whether there are conflicts inherent to a venture capitalist being on public boards, many would say our expertise is unique in a lot of ways and our technology understanding and put up with the conflicts because we're worth it. as for skype the only thing i'll say is people that are really interested, go back and look at the debate around the first deal. the intellectual property of skype was not owned by ebay and that injected an element of complexity into the negotiations they were having with skype's founders at the time. >> i didn't know that. >> when you look at -- i have to say when you look at how andreessen acted it's very unclear to me whether the charges that icahn is bringing have a great deal of merit. >> when it went to 8 billion it had the ip. >> yes, they brought the ip back in. and you had the founders back in and, of course, ebay owned 30%. >> and it

it wasn't just so-so, it was bad, and that stock would be under $50 and carl icahn maybe that donahoed say smoke 'em peace pipe. and i will tell you if donahoe would be the worst provider over corporate governance, why is he wide open. he does not impress me as a man hidden by anything. he is not hiding. >> i agree. >>> when we come back markets holding steady as we said ahead of tomorrow's big jobs numbers. we'll tell you how to play it. and nike announcing a partnership with the world cup and the ceo of nike. >> what a get. >> a dow component. >> great guy. >> will join us live a little later on for an exclusive interview about that, the whole state of retail under armour, uf name it. one more look at futures. the nasdaq is on track for five weeks up. hasn't done that since october. we'll talk about reasons why, jim, when "squawk on the street" comes back. tall the building is, or how ornate the halls are. it doesn't matter if there are granite statues, or big mahogany desks. when working with an investment firm, what's really important is whether the people behind the desks actuall

i think john donahoe has done a good job, very good job over the years. ceo. but you know, these are the kind of questions investors ask. and so we at the board spend a lot of time working through this. >> were you on the board during the skype sale and watch all of that happen? >> yes. >> now this debate over mark andreasen's role? >> i probably shouldn't comment on fellow directors. >> okay. thank you. we're going to leave it there. >> thank you, andrew. >> we send it back to hq. >> thank you, andrew. thanks, bill ford. two things - cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >>> welcome back to "squawk box." let's get back to larry lindsey, president and ceo of lindsey group. larry,

they say "john donaho has delivered astounding results for e-bay shareholders since he became ceo andy discredited by the facts. makes you wonder what happens when an immovable force meets an irresistible one. silicon valley culture versus this lion of old style activism. who wins? >> yeah, well, it will have to play out. i haven't looked at all the details because i've been focused here on the next generation of start-ups and hopefully will be the next titans five, ten, 15 years from now. that's the main thing. but we saw some of this actually with carl when he was kind of going after time warner a decade ago, trying to force some changes after kind of a while backed off. each situation's little bit different. but it's not just the battle of the titans that you're covering, it's also what's happening here at south by with a lot of great entrepreneurs and great ideas that ultimately will create the next generation of companies that will power our economy and great jobs to make sure we remain the most innovative entrepreneurial nation. 30,000 people here focused on start-ups. >> steve,

he embraced me now asked first of all about my family and then asked after officials in conrad's donahoe show and i was very encouraged because he had become more lively he told me don't worry because i will return i will get through this and will recover. if you thought he would see that that. he said it. today. i hope he will because i pray to god. to bring you good news in the coming days. and that will be able to continue constructing what we are already built but that we have to continue building. well we have our homeland as we have said this is not only a human being this is a big community and our slogan is this is the heart of the nation and the nation is here inside the heart of chavis. of course for the bow of aryan left is he was a very important figure. and well a lot of people loved him it was many others hated him this could be a very unstable situation because basically in a country that supplies the u.s. with fourteen percent of its oil you have one man rule about half of the nation are chad his backers half the nation are bitterly opposed to chavez and those two sides h

transparent and tell us what's going on and then, of course, continuing battle between carl icahn and john donahoeeason but -- >> isn't this unusual? this like teldar. >> these are fights. these are fights whereas in activism as we've often pointed out you sometimes have conversations that then lead to amicable resolution. these are fights. >> yes. these are big-name people really going at it and saying, you know, at wone point in peltz's letters he said cut the headquarters to two. how much money are you spending on the palaces. >> 17-page letter and they make the point we aren't normally this public about it. >> i know. >> and kind of saying that there's a little sedition going on. maybe a little breaking of the ranks and implying that the top shareholder base wants a move. executive session. it's nasty. >> it is nasty. $240 million. why was it better to spend that on the old headquarters as opposed to perhaps upgrading your bottling capacity. these are the questions being asked. the board comes back very quickly and says we've considered everything. >> right. >> everything under your plan, we k