erik: i'm erik. i'm the owner. lemonis: i'm marcus. nice to meet you. erik: nice to meet you. it's kind of a slower event, but it'll work out pretty good. lemonis: small businesses rarely have the budgets to do big marketing campaigns. so taking over a corner where you can pass out samples and brochures and talk to customers about your product, it's a good idea. so, how many customers do you have in total? erik: we have a total of 300 customers we service. we have 3,000 in the system. lemonis: and how long does a typical customer stay? erik: about three months. lemonis: so, your typical customer stays three months? erik: yeah. now, i have customers for life. lemonis: i want to see you do your marketing thing. erik: yeah. 20 new clients this week. lemonis: let me see it. make it happen. erik: [ laughs ] so, chicken and spinach, or do you want gourmet, delivered health food? there's two servings to a snack for $7.50. diana: if there's any type of allergy, we can actually help you with that. erik: hello, dessert samples. key lime pie? lemonis: erik's idea of healthy eating is a g

erik? erik: thank you. a little breaking news.nt will deliver a statement at 11:40 this morning. we don't have many more details other than that he met with his national security team earlier today. there is, of course, all of this conversation yesterday between the president and france's francois hollande about how to respond to isis. there is the video we were talking about earlier released by the chicago police department. we have no idea what the president will be addressing but it is possible a could be either of those issues. more details to come on "bloomberg markets" after this break. ♪ recap what i mentioned before the quick commercial break, president obama will be delivering a statement at 11:40 this morning. it has to do with the meeting he is having with his homeland security team this month, national security team, in fact, -- it onocus is a national severity in the week of this tragic terrorist attacks in paris. and drafting's are facing off against new york attorney general eric schneiderman this afternoon in court

erik: thank you. now, julie hyman has the latest on november consumer confidence -- confidence and more. seeing a drop to 90.4 in consumer confidence and thus far. by5 was what was expected economists. what has been driving markets events in southern turkey with the a plane being shot down and the war of words between russia and turkey. you are looking at the e-mail he's -- e-mini's overnight. you saw the drop in the futures after we got the headlines. quite a bit of volatility sense then on the commentary that has come out back and forth between the two nations. as analysts try to extrapolate for thes will mean commodity markets and the european union and nato. a of talking about these repercussions of what has happened. in terms of how this is being felt another aspect passes, i want to look at the etf for russia and turkey. a selloff in the etf's that track the markets in those nations. offre seeing this risk scenario. also watching in their currencies. the japanese yen on the rise. interestingly e

erik: thank you. coming up come the best week of the year for the s&p 500 and stocks appear to have stalled today. surprise due to the fact we are in a holiday short week. it is thanksgiving and traders will be off friday. -- off on thursday and friday will have some activity. julie: we are seeing a little changed mixed market. it's a holiday weekend by intends to go down and very little change across the board with the nasdaq doing the best and it's only up 2/10 of 1%. it was the best week of the are last week and we only trading 2% below the record high for the s&p 500. we are approaching the record levels once again. terminal, you can see it's an even split of red and green. telecom and energy are doing the worst in consumer discretionary continues the winning streak from last week and materials are gaining as well. when you look at energy doing poorly, there has been this energy selloff that has been going on. it is now a baiting to some degree. we see crude lower but the rest of the energy comple

stay with us. ♪ erik: i'm erik schatzker. city and 4:30 in london, where trading is finishing up for the week. mark? mark: the biggest slump in chinese equities in three months. the european close starts right now. ♪ erik: from new york to london and then to moscow and the next half hour. mark barton, kick it off. mark: improvements on what happened earlier in the session. china's stock market slumping the most in three months because of industrial profit decline. what helped was data from the eurozone. economic confidence matching its highest level. it will not change with the ecb .does next week the stoxx 600 rising for

erik: let's check in on the news with courtney donohoe.ourtney: we are focusing on breaking news from belgium. the prosecutor's office says a man has been arrested in brussels trash with terrorist attacks. the police in belgium have been the suspected organizer of the paris attacks. russia is retaliating against turkey for shooting down the warplane. they are suspending visa-free travel with russia. they are already make it tougher for turkish produce do come into the country. further sanctions could be coming in soon. protesters marching through chicago's biggest shopping district to protest the killing of a black teenager i a white police officer, who has been charged with murder. will you find the nation's worst drivers? theinsurance group says most lawless and dangerous u.s. drivers are in montana, new mexico, and south carolina. her first wordat news. you can get more on these and other stories at the new bloomberg.com. from the bloomberg first word desk i am courtney donohoe. erik: a big week for mario janet yellen. expectations of f

erik: a lot. tom: i am the same way. erik: it doesn't take long to get over 10.the idea is that this is an exciting -- am i doing ok? a changeis that it is of retail season. i don't have answers of where we are four months or six months from now. they don'tamant that know what retail will do in january or february. estate.ntory, the real we didn't make our cash flow or numbers, what will we do? it is a different year. stevewe will go to brandon, the ceo of toys "r" us. square. times david, good morning. you may have heard tom and i talking about a couple of things critical to retailers. what inventory levels are you dealing with? do you have more product and you thought going it to the holiday season? dave: i think we are where we expected to be. we are on plan. we have so many shopping days promotions, i and will be able to better answer that in a couple of weeks. right now, i like where we are. tom: is star wars going to save your season? a seasonon't see it as saver. it is an unknown. the movie comes out on the 18. there is a build in anticipation . a have cre

erik: thank you.or more on our top story, french president franÇois hollande has bring on board to build a coalition to fight islamic state. he met with prime minister david today. the uk's national security depends on its economic security. >> we must do more to tackle the threat of returning foreign fighters. this requires a pan-european effort and we need a strong european border to protect our security more effectively with screenings of systematic security checks, and greater sharing of data among member states. delay,, without further agreed to the rules that will allow us to ship passenger name records. it is really good to get more data is ridiculous we can get more information from countries eu that eachhe you other. erik: we go back to mark barton. clearly onstates board in the effort to fight islamic state. franÇois hollande to meet president obama in washington. thursday. american it will be a busy week for the french president. let's start with this whistle stop to her of some of the worl

erik: i'm erik schatzker. right now time for a look at the bloomberg business flash.is putting more americans on the road for the holiday. americans will travel 50 miles from home this weekend, the most since 2007. the average price for gasoline, $2.14, down $.70 from a year ago. the parent of united airlines's offering was a 15% raise next year, according to people familiar with the matter. it would make united pilots close to the highest paid in the u.s. airline industry. united says it has an agreement in principle with the pilots union. theaters are looking to boost revenue anyway they can when the new "star wars" movie opens next month. they will be selling posters, keychains, and cocktails called yodaritas. shift,son for this theaters will be paying a higher than normal percentage for each wars'" o disney, "star distributor. more businesses can always be found at bloomberg.com. now mark barton with today's big political and economic event in the u k mark: it was chancellor george osborne's big day. he heralded the strength of the economy vs. its peers. rne: whol

erik: yes, in theory.egulators who messed things up in the first place making the decision about what can and cannot be done. stephanie: i will give you number 4 -- intercontinental is the favorite hotel chain. is exploring strategic options including a potential sale or merger. the world's largest lodger is deciding whether to sell itself or combine with a competitor. think about it, there has been so much consolidation in this sector. some of the biggest private equity and real estate guys from superhigh end to low end. this has been hot in m&a for the last two years. erik: this is a favorite of ours. stephanie: you are one day too late. erik: it's number five, square is seeking, as of this morning, to raise $285 million in an initial public offering. the company plans to sell 27 million shares at a price of $11-$13 each. the stock will trade on the new york stock exchange. all the major banks of the major underwriters. twitter was valued in its last run around at $6 billion. at $3.84es twitter billion.

erik: welcome back to "bloomberg best." i'm erik schatzker.other important business headlines. let us begin with marriott's agreement to purchase starwood. it is a deal that would create the world's largest hotel company and we spoke to people on both sides. >> the hotel world is buzzing today on the news that marriott and starwood are going to be coming together. let us had to stephanie ruhle and she has the ceo of starwood capital with her. take it away. >> who better to opine on the subject? you started the starwood hotel business. what do you make of this deal? it is like watching your child grow up. >> and disappear. i think it's an interesting merger for both copies. i think the stock was overvalued. i had a lot of calls from hedge fund friends of mine. i think it's a smart transaction for them because they used stock and a job training on low multiple timeshare business. there were enormous interest in a trade to a play. i thought both initially, but interest play their down. i think it's good for starwood. i think the world is going to

erik: time for the bloomberg business flash.ca-cola's chief science and health officer is leaving the company after they were criticized for funding and anti-obesity group. cook shapes the group's agenda, and is $1.5 million to the global energy balance network. they helped to pick the group leaders, and mission statements, and edit website content. in september.se the reading from case-shiller was the strongest in 15 months. overall prices nationwide increased 4.0%. there is deal of the semiconductor industry. about 2.5 really dollars. -- billion dollars. several have in consolidating at a record pace this year. you can always see more business news at bloomberg.com. president obama and president franÇois hollande will hold a joint news conference in the white house.the we haven't from all angles -- have it from all angles. mark: thank you. this press conference comes as we know on the heels of those attacks. parents on edge, france in a state of emergency. the state of emergency also in belgium because they are looking for one

we have erik schatzker down in d.c. with mary jo white. erik: thank you very much.with sec chair mary jo white, thank you very much. >> glad to be here. erik: you are no doubt aware over the increasing or growing controversialhe role that short-sellers play in financial markets, particularly the stock market. how concerned are you that some short-sellers may be manipulating the market and prices of certain stocks either by publishing research or making public comments that benefit their position? a specificy from matter. the marketplace is built for buyers and sellers to come together with long and short positions so short selling has a legitimate, positive purpose marketplace. that is different than if you manipulate by shortselling. if you are shortselling and manipulating by false statements you may be putting out, that is something we continue to police but bring strong enforcement actions against. it's designed to make sure shortselling occurs legitimately in an orderly way. is topic of shortselling something that continuously gets attention at the sec as it do

my name is erik. i'm from hollywood. a big actor. my god, your eyes are beautiful. >> they don't speak any english, but you don't need to speak a language to still flirt. >> so what you girls doing tonight? >> come back with me, introduce me to your family. >> i've heard i'm not that hard on the eyes. >> a guy comes out of one of the shops. >> this your brother? >> and i'm laughing, oh, what is this guy going to do? >> put your hands up. they're the same. i'm just talking to the lady. put your hands on me one more time. >> i let my bag drop. and this guy actually pushes me a little hard. people start staring. so i let him go. >> where is my bag? >> and my bag is gone. >> where is my bag? where is my bag? >> that quick. >> got my damn bag, man. this place sucks. >> and i'm thinking to myself, i'm the biggest idiot on earth to be on the streets of pakistan. thursday morning, the phone rings. my ride with the luggage is here. so a guy brings up one suitcase. >> hey. >> hey. it only had seven jackets in it. so this is definitely off. thi

i'm erik schatzker.elcome to "bloomberg best." the reverberations them last friday's terror attacks in paris were felt all week long. bloomberg reporters were on the the scene in paris and across the globe as the story develops. a major concern has been security. >> getting an idea of who may be involved and how they got into the country. were they born in france, did they come from belgium? or did they come via greece from syria. all of that will have a big bearing on what happens next, politically. >> how many questions are you seeing in france being asked as to why security cannot stop these attacks are happening? >> one of the guys they identified over the last hour was under court supervision. there was a warrant out for his arrest. the guy they already had him, but they lost him. as a heard earlier on, there are so many radicalized young men and women who potentially have been cutting back from syria. it is almost impossible to track all of this. i think it's a legitimate question that needs to be

that endures. ♪ erik: welcome back. i am erik schatzker.ion of "bloomberg best", let's look at charts tell the story of the week in business. scarlet: walmart has been a lagger this year in part because margins remain under pressure. what we can show you is that the yellow line here is below its overall. it is below 5% which is something that people fixated on. both of these are declining. doug macmillan's push to modernize walmart has eroded profitability. still, the forecast for revenue growth over the next 3-4 years at 3%-4%. at the bottom part of this, it is stagnant. growth will be international. the orange part will drive everything. when it comes to international, he is talking about china and not brazil where net sales continue to suffer. there is no consistency here. down for tenths of 1% in the past quarter. >> i want to talk about what is going on with russia and the ruble. if you check out this chart, russia is in large part and oil driven economy, the collapse in oil prices have slammed the currency. in recent days, there has b

erik, is this an avalanche? erik: the lord the finance minister used last night, avalanche. he said avalanches can be caused by people who are bad skiers. we all know germans love control. they look orderly society. right now, with a million people in the last two or three months, there's a sense that they are losing control of their country. that is upsetting a lot of people and hurting merkel's party. terry: before we moved to our next session, how dangerous is the situation for chancellor merkel, corinna? corinna: it is dangerous. she knows that. peopleend of the day, will look whether she has managed the situation. does she still have the situation under control? both her government, but also the refugees and how to i think theem -- government is the bigger problem. if they would stay together, step back, and say, we will take some time, but everything is on the way, we are one of the richest countries in the world, we can manage the situation -- local leaders do a good job. ministers inrior the federal states are beginning to rebel. corinna: of course. clear. absolutely

erik jones holding on to fourth now. the 19-year-old trying to sweep the weekend, back in fourth with some pretty worthy opponents in front of him. brad keselowski, almost an eight-tenths second lead. austin dillon, kevin harvick back in second behind race leader keselowski. >> steve: has taken time, watch here, the momentum he will carry. has to get out of the row. will continue to catch 33 down he entered the corner high against the wall. allows you to carry more momentum. >> rick: will that momentum help him get by? the 33 of austin dillon. will he have enough time to catch up to the 22 of keselowski? >> steve: beat him to the corner, this is where he gets a good run. will austin block. he does. takes momentum from harvick. >> rick: not able to keep the momentum up as he enters one. five laps to go. from austin dillon. >> steve: he is going to look ahead. win. kevin harvick and the 88 are not here for points, they're here for trophies. >> rick: little bobble for kevin harvick, he came up on lap traffic. now with four

erik, you have got a lot of. erik: a few things to add.tar board value activist investors shifting course, urging yahoo! to sell its core search and display business. and instead retain the alibaba and yahoo! japan stakes it wanted to spend off. -- spin off. it is threatening a proxy battle. we will look to make significant changes to the board if you continue to make decisions that destroy shareholder value. the proxy battle always in the background with star board. writing.in a direct threat to marissa mayer, the ceo of yahoo! it is only going to heat up. stephanie: stay with us. we have got more breaking news. ♪ i just had a horrible nightmare. my company's entire network went down, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. david: welco

it is fantastic. ♪ erik: welcome back. i am erik schatzker. this edition of " let's lookest, at some stories. becausert is a lag or -- is under pressure. ebitargin is below its talk overall. it is something that is fixed on overall. walmartd to modernize has eroded profitability. you can see the u.s., at the bottom part of the bar, is stagnant. growth is international. that will drive everything. when it comes to international, he is talking about china, not brazil. net sales continue to suffer. down for tenths of 1% the past order. about what isalk going on with russia, in particular, the ruble. driven economy. the collapse in oil prices have slammed the currency. there has been a disconnect between the ruble and oil. the ruble has gone up. oil is going nowhere. thanks to belief that the common enemy of isis, that thawaps there will be a between russia and the west as they pursue this common enemy. investors are betting that will be good to russian assets. expectations, u.s., germany, japan, this is the breakeven rate. the difference between

erik jones holding on to fourth now. the 19-year-old trying to sweep the weekend, back in fourth with some pretty worthy opponents in front of him. brad keselowski, almost an eight-tenths second lead. austin dillon, kevin harvick back in second behind race leader keselowski. >> steve: has taken time, watch here, the momentum he will carry. has to get out of the row. will continue to catch 33 down the straight away. he entered the corner high against the wall. allows you to carry more momentum. >> rick: will that momentum help him get by? the 33 of austin dillon. will he have enough time to catch up to the 22 of keselowski? >> steve: beat him to the corner, this is where he gets a good run. will austin block. he does. takes momentum from harvick. >> rick: not able to keep the momentum up as he enters one. five laps to go. harvick trying to take second from austin dillon. >> steve: he is going to look ahead. he wants to catch the 22 for the win. kevin harvick and the 88 are not here for points, they're here for trophies. >

opportunity to progress. >> good job, erik.nt company is active in 180 countries. >> it is the largest resource project in australia. erik: pumping almost 2.6 million barrels every day. these are challenging times for big oil. >> nobody in the business. erik: fracking has upended the global market. renewables like solar and wind power are getting cheaper, and no one knows wor

erik jones holding on to fourth now. the 19-year-old trying to sweep the weekend, back in fourth with some pretty worthy opponents in front of him. brad keselows , almost an eight-tenths second lead. austin dillon, kevin harvi back in second behind race leader keselowski. >> steve: has taken time, watch here the momentum he will carry. has to get out of the row. will continue to catch 33 down the straight away. he entered the corner high against the wall. allows you to carry more momentum. >> rick: will that momentum help him get by? the 33 of austin dillon. will he have enough time to catch up to the 22 of keselowski? >> steve: beat him to the corner, this is where he gets a good run. will austin block. he does. takes momentum from harvick. rick: not a ble to keep the momentum up ast e enters one. five laps to go. harvick trying to take second from austin dillon.y>> steve: he is oing to look ahead. he wants to catch the 22 for the win. kevin harvick and the 88 are not here for points, they're here for trophies. >> rick:

erik: like mo on allergan.glenview reiterated months and two. >> also, bill eicher said it would be great if allergan and valeant got together. is saying dan loeb wouldn't it be great if allergan and amgen. look across the themes of yesterday, clearly health care and health care m&a dominated the conversation. not surprising, given how much action there is around that right now, and how much activism there is in health care m&a. interesting to see these guys talk, but a little frightening to hear that it does not really -- erik: unless of course you went with the shorts only three matt, i am not sure if you want to join the conversation, but these guys get up and they are almost always men. in some cases they are women. stephanie: there was a portfolio manager talking charter. i like that. erik: however, these people made mostly long hauls -- long calls. a lot of them turned out to be huge duds, like gmc, clovis oncology -- the cancer company that just cratered the other day. but the shorts, like whitney callin

erik: thank you.the five stories of markets with barbara byrne, number one, tough times at aig. first quarterly loss since 2012 and they plan to cut 400 senior-level jobs. julie hyman has been on the conference call, and peter hancock waited on the carl icahn proposal, did he not? julie: he did. on the strike at the beginning, that is what people wanted to hear about, so he said that the management and board have repeatedly considered what carl icahn is bringing forth, even before. that is to break aig up into three companies, property and casualty insurer, wife insurer, and mortgage insurer. -- life insurance, and mortgage insurer. they said they had recently considered it and decided it did not make financial sense. he said the company gets a diversification benefit from the rating agencies, in other words, the rating agencies gives them extra credit, if you will, for having that diversified business. in addition, he said even with this significant financial theus at aig has because of size, they ha

erik: who is this man?responses. ♪ erik: we are back with hunter harrison, the ceo of canadian pacific railway. one of the things that norfolk southern shareholders may want to consider is something beyond just the price. they would be getting some of your stock. i want to turn to matt miller because your record at canadian pacific speaks for itself. you been able to reduce costs as a percentage of revenue. matt will show us just how much. matt: they were high, if you i haveck to 2010-2011 -- taken data for adjusted operating costs. it takes one-time gains and losses. this is canadian pacific. it has improved from 90 down to about 60%. i put csx in red and norfolk southern and white. norfolk southern is higher than these two competitors. graph them against everybody else, they have the highest operating costs. erik: lower is better. matt: of course. you want to spend less money compared to the revenue you take in. erik: the question people raise about your chances of doing the same at norfolk southern is th

erik: like it wasn't.t a different investor and maybe it should be a luxury bucket for investors. >> if you're on the high-end he'll be limited as to where you can go -- grow. you want necessarily built 30 stores in arkansas. he will be on the coast and areas where there are affluent consumers. stephanie: this walk to directly into shake shack where growth is the question. people love shake shack but it was the competition? given what their price point is, where can they grow? >> they are targeting the coasts. they are only looking at 300 or 400 stores in the u.s. they want customers with money. they are taking picture -- customers from casual dining. previous guests talked about how strong consumer discretionary has been. a lot of the earnings growth is from share buybacks and stuff like that. casual dining has been suffering and they're losing customers to places like shake shack. customers are trading down to chipotle. it's a little less expensive. they still get great food. stephanie: you would take yo

erik: how much? david g.: 5%. erik: 5% would default.ming loans are at they have come down and they were much higher during the post-crisis period when all of those mortgages were defaulting. how is it that your model allows for a 5% default rate? that would destroy banks, by the way. 5% nonperforming loans from here to eternity, you would be out of business. stephanie: they are also making much bigger loans. erik: because of leverage more than anything else. david g.: the way to think about it is our loans have an average its rate of about 12%, and the target return on a three-year loan is 7%. we have some borrowers, we would thataa prime borrowers default rates are far less than 1%, and others that can be single-digit percentages. erik: how much do you get paid? banks do it on net interest margin. you guys? david g.: we make money on fees we charge to the borrower and investor, and you can take about as roughly 5% of the value of the loan. erik: is the fee blended into the interest rate that you were talking about, 11%? david g.: that

erik: does that mean it's not going to be a consolidator?avier: ultimately it's not up to us to decide. erik: if you are going to buy someone, that's your decision. somer: we have done acquisitions, but the serious part is that some obviously believe that consolidation is the only way to effectively acquire local players. the alternative that open access presents today is an area where the only global open access exchange point is an world, an area where we have strength and others don't, we can match it, licensing of indexes or clearing with weaknesses in areas where they are stronger than we are. we can license those to them to achieve the same. at the end of the day it's about customers enjoying regulatory capital savings and index efficiencies. open access is also a way to create global access. betty: intellectual -- erik: intellectual firms are important to your theory, so why then do you not -- just throwing it out there -- going to buy a company like market? there is a great deal of intellectual property there and a lot of indexes on

i am erik schatzker.raded lower the five sessions headed into today, and it is now at a six-year low. the metal has slumped on the strengthening u.s. dollar and slowing growth in china. strategyhe director of at bell curve capital with us from the cme. 2.1970- copper touched this morning. where is the next level of support? level of support is five levels below at 2.15. we believe there is going to be a lot of stop-hitting here at 2.19. again, all-time lows -- not only six-year lows, all-time lows. aboveded at an average three dollars for the last six years, so this move down is big news here on the cme. factorsris, a couple of were between the u.s. dollar and perceptions out of demand in china. which is more important right now? chirs: i believe the demand out of china, as you see this move lower, was carrying it to all-time lows. industrial numbers came out. to fiveised it lowered point 8%. it came out at 5.6%. percentalmost 4/10 of a lower than the average. we see a definite slowdown in china. the amer

erik: meaning what -- no exposure to -- mr. pickens: wti. erik: wti.ple see you selling, should they interpret that as capitulation, or something different? mr. pickens: no, i haven't -- i had it right, and we shorted it at $98. then we had it wrong. we believe we saw the bottom. we did not see the bottom, so we losses,k in long, took and are now out waiting for an entry point again. erik: would you short it in the meantime? mr. pickens: no. i have had enough short right now. the short was good to me. no, i do believe we go below 40. stephanie: i want to talk about oil exploration companies. you sold out of larger companies like apache, occidental, but took stake in smaller companies. where is the opportunity? mr. pickens: they would recover more quickly. pioneer has so much acreage held by production. that means they do not have to develop it. pioneer can develop at the pace they want to, not developed -- whatever. they can hold their acres. the others are just like pioneer. those, but we thought we had seen the bottom, and we did not, ok? and the rea

erik: la victoria del equipo llegÓ tras remontar una ventaja de dos caderas - carreras.ipo de nueva york se debiÓ a este jugador. >> estoy super contento, las cosas salieron bien, nunca nos rendimos. erik: otro que lleno de energÍa a su equipo fue el lanzador que lanzÓ seis entradas en un montÍculo donde describiÓ las iniciales de su padre. >> es bueno que la gente entienda que en el deporte hasta el fallecimiento de un padre sirve de motivaciÓn. erik: los flamantes campeones mostrarÁn maÑana el trofeo que les tomÓ 30 aÑos reconquistar. serÁn el desfile que tiene previsto recorrer dos millas. desde la casa de los mets. presentador: bien por kansas, bien por los latinos. presentadora: felicidades. ♪ ♪ >>estas chantajeando? >> llÁmalo como quieras, la Única forma en que la muchacha se puede quedar en esta casa es si tÚ te comprometerse con ella. >> ese compromiso es un ridÍculo capricho tuyo. >> son decisiones convenientes para la familia y para la empresa que tienes a tu cargo. no me vas a obedecer? >> no te voy a obedecer. >> lo Único que te faltaba por hacer. faltarme a

erik: let's talk about star wars.e spoke to the ceo of toys are us this morning and here is what he had to say about star wars. >> the customer today wants to buy what they want, when they want, where they want, how they want. make it easy, we spokeseamless and customer fy to purchase in all those channels and to deliver in a quick and efficient way, then you are going to get left behind. out -- and pardon me, that was not actually the soundbite i was looking for. he did address star wars specifically. he said it won't be a season saver. >> it won't save the season, but toys "r" us has added merchandise across the store, target orher walmart is. it will give them the cash flow they need to make up from the mistakes of the prior management regimes. alix: how deep are the discounts you are seeing today? on wednesday, consumers were saying yes, i will buy stuff, but you have to give me a really big discount for me to want to do it. we are seeing discounts, but they are on the wrong stuff. for example, walmart has twice a

erik: it is not going away.nning ground against regulators in a separate but related action. it shows how much attention is still being paid to these people years after the alleged violation. david: you remember janet yellen's testimony. -- said we still have not you don't want to be told here is another scandal. to get theing regulators to say enough regulation. the regulators say we have not gone far enough, guys. >> it's likely to swing too far the wrong way. what happens with regulators, we get problems that don't go away, the whole psychology around that is that we have seen it historically that regulation swings too far, we get business conditions that look less favorable for people in the financial industry and there's excessive cost. i'm worried about it. for us to compete with european banks, if we are overregulated, it is putting us at a disadvantage. david: central-bank stimulus. stephanie: definitely not going way. david: european growth slowed in the third quarter. mario draghi end ecb examine the n

erik: mark, we have to leave it there.at unc is 9.3% and they wish they had you back. we will be back with mike buchanan after the break. ♪ stephanie: you are looking at a beautiful morning in san francisco, but we are joining you from new york city. you're watching "bloomberg ." michael buchanan is with us but we will stay on california. tesla reported third-quarter earnings yesterday and sales missed estimates and the company loss ever.s biggest the electric car maker tighten the range of 2015 production target to 50,000 from 52,000 cars. that is not a huge difference. elon musk told investors that production has started at the so-called giga factory and he has found a replacement for his senior executive from google. shares are up now around 8% in premarket trading. talk who surely likes to about tesla, but does not like to lick up early -- wake up early is cory johnson. what do you make of these numbers? . cory: the numbers are interesting. they tighten the range. goal had an audacious saying that they were going t

erik. erik: erickson and cisco developed new products as solutions to telecom carriers.illion dollars in three years. cisco ceo chuck robbins. i will begin with you. partnerships are notoriously difficult to manage and often unsuccessful. why do you think this one will be different? chuck: it is a good question. if you go back to the history of this partnership, we started the discussions about a year ago. i think we really focused on what is good for both companies that is also good for our customers, that leverages strength. you see two market leaders coming together. number one in several markets, bringing those assets together. the other thing that has happened over the luster is we have developed a great deal of trust between our organizations. -- of trust. two marketought, leaders bringing their assets to bear. stockholm, you'll had a re-grievant with cisco's main competitor in carrier class routing. a two-part question. does this mean the retail agreement has done, and secondly, did you even consider just buying juniper instead of partnering with cisco? >> i think

erik! he's here!" and we're having a good time, but we make it fun for them to go clean up their neighborhood. every saturday, before we start doing the fun stuff, learning the science and the animals, all that, we have to take a walk around their whole neighborhood and clean up all the trash. and -- yes. >> so, you're helping them in that way, too, and teaching them, 'cause i'm assuming there's a high illiteracy rate. >> there's a high illiteracy rate, but the interesting thing is -- i have guys -- and my good friend, who started with me five years ago -- when we said we were gonna build this nature center, he's like, "okay, well, when are we gonna build this nature center?" and it's like, "i don't know. well, we have to keep going to the mayor to ask them for permission." and guess what. he ran for mayor of the town -- ranomafana, madagascar -- and he won. >> [ laughing ] okay. so you're definitely getting the nature center. >> we have to get clearance for land a lot of permits and a lot of things th

it is erik schatzker. erik: the ceo of them be advisors is here -- milton. oppenheimer and was a partner of the hedge fund pioneer. good to have you with us. before we get to the conversation, how about a little news with vonnie quinn? vonnie: world leaders are trying to get on the same page about global warming. about 150 other countries are in paris for a climate conference. any deal should include eight for them. that idea was backed by the president of china. conditions in his country's capital show the need for change. the pollution alert is up in beijing. a reading of a poisonous substance in the city's eric is five times higher than a safe level. the turkish leader says his company will not apologize for downing the russian warplanes y. the body of the pilot was sent to russia. the body died when turkey shot down the russian plane. thepope visited a mosque in war-torn capital of central african republic. religious violence has excavated since muslim rebels took over the country's years ago. you can get these stories and more toy for hours a day at the

erik: you may have seen the research.rototyping goldman sachs and found out that these five stars, facebook, , amazon aree, ge part of the game. that is a trend that has only .merged they only last about four months. which you write that line. the market as a whole, if you're going to send a little bit of time in the market, how it has been doing, and where is valued, let's talk about toys simply sells. i want to be sure 500 on the average is great. it has been a strong year for momentum investing in stock selection, not in the trend. it has been a relatively weak year for value investing. we still believe in both. we want to build a portfolio that does some of the other things i mentioned in the relative world. but i can report that we find very similar to them, that if you have let in been consistent fairly consistent with my finding that it has been a year for best friend watchvery interesting to these markets. we saw markets dip down right before they closed. right now the cash markets are trading up about eight point

erik: as much as they used to be?ing me whether a marvel franchise can be the brand can be a big a star as brad pitt, maybe the answer is yes. brad pitt is still a gigantic movie star as well as angelina jolie and will the rain is probably a gigantic movie star. is probably ane gigantic movie star. a takes a big start to make superhero in a marvel movie work. upset erik: actresses are they don't get paid is not -- paid as much as actors, what can we do about that? >> we can make sure our clients get paid as much as the men do. that's the way it should be. this is an area where if you look at sports, at wimbledon, taking tennis, it took a while and i guess it was because of king, but if serena williams wimbledon, she makes the same amount of money as rafael nadal. erik: a couple of your competitors like william morean ris have expanded beyond what they used to be as talent agencies. do you feel pressure to go further beyond your roots? >> we just acquired a music agency, the agency group. we have not gotten into the sp

erik: it is down now.back to the critical question, where will fes follow the market -- will the feds follow the market? some of the additional qe that we are expecting from jockey is priced in already -- from draghi is priced in already. guy: thank you for joining us here at up next, earnings. we are going to speak to kristin kreuk a little later in the program. ♪ ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. guy: the faintest fed -- the latest fed minutes suggested december is going to see liftoff for u.s. rates. the bank of japan keeps monetary stimulus unchanged despite the recession, it said its record easing measures are working. french police say they do not know if the ringleader behind wasatrocities seen friday killed in yesterday morning's rate. where live in the f

erik: cash flow, cash flow.selling non-core assets and trying to husband the cash flow to keep paying a dividend. erik: so what will the catalyst may, scott: smaller companies don't have all the flexibly these of the majors. the majors will be fine, great companies 10 and 20 years from now. but the smaller companies that don't have that balance sheet -- erik: they are running out of oxygen. scott: they have to either restructure the existing balance sheet, or more likely they will consolidate. erik: we will continue. scott bok, ceo of greenhill and company. matt, the market has been open for six minutes. what do we see? matt: red across the board. dow jonesg down 15, down 150 at the open, and the nasdaq down 32, the major -- lowest level on the major indexes in about three weeks now. if you look, you see almost everyone is losing except utilities, the only gainer here. energy, materials, financials leading the way down. commodities are big losers. we have been pointing it out all morning. crude oil down more tha

be cool, dude. >> erik olson did not die.as returned to the jail and is currently housed in a single-person cell in the medical unit. >> i'm pretty sure what knocked me out was being punched and i hit the floor on the back of my head and i have a pretty large knot. i have a bruise up here. and i have bumps all over the back of my head, when you can't see them. and i'm pretty sure i got punched a few times in the mouth. so i can't actually open my jaw, you know, wide enough to actually get a large amount of food in my mouth. i also have bruises everywhere just from being hit in the face, as well as being hit on the ground. >> olson was only at the jail less than 24 hours before the attack. he had been out on bond before he was convicted and sentenced to five years for rape by instrumentation and was awaiting transfer to prison. nava and gonzalez say they attacked him because he raped a 12-year-old girl. but that was a false jailhouse rumor. >> rape by instrumentation basically means that you had some kind of penetration. >> an