flannery being the choice.ut, you know, it's interesting to look back at the ten year from mr. immelt. he's lost the confidence of the investors. i think he knows that. apparently did not lose the confidence of his board. and at least the way that they are narrating this for those of us who follow this company closely saying, you know, this was all part of a well thought out process in which mr. immelt said it was long enough and it probably was 16 years is a long enough time he came in a multiple on the stock price one week before 9/11 it certainly lagged and he did lose the confidence of the investors. it will be interesting to see if flannery is able to gain that confidence back. jim, i'm hearing the same thing. nobody is expecting him to break it up. if they are lauding his ability to turn it around health care, remember the deal. another asset that people said was bought way too high. >> yeah. >> from the earliest deals that immelt did he has successfully turned health care around the expectation is he's o

annie: john flannery has great record in health care business.tly, this succession was happening for a while. how long does he get to move the share price? >> how long does he get? does not movef he quickly, the frustration will build. i don't think they would bring an outside guy in because of the culture. maybe they should but i would not have expected that to happen. i would think they will give him -- i don't know what the exact timeline is that they have to give him some time maybe a year or so. people are impatient. they have waited for the stock to move so -- vonnie: does this depend on the price of oil? on thingsly dependent like opec and the u.s. supply and so forth? >> no, i don't think so, the price of oil mate make his job harder. we would be having this conversation if we saw a jump in oil prices. i think his earnings target would've been easier to achieve and boosted his credibility. ge has taken significant steps to partition off its oil and gas exposure by merging their business with baker hughes. thatthey go further with and cons

who is john flannery?sked tracee carrasco. >> good morning katie passed the reins to ceo john flannery pay the 55 drought began his career in 1987. since then, held a number of different roles on three continents. most recently ceo of ge health care is at the turnaround of the $18 billion business. notably flannery had of the $17 billion acquisition of the power business cover the biggest industrial acquisition of ge history. increased organic revenue by 5% of 5% a position to business as a technology leader in core imaging and digital platforms, life sciences and cell therapy. he is eager to take on his new job. >> i have extreme confidence in where we are going and that ge will be an incredible company for another 125 years. >> ge shares up more than 3% on monday. new position monday. the position of ceo is effective august 1st and chairman january 1, 28 team. cheryl: he's known to make internally tough decisions that ge is facing at this point after the crisis. thank you very much. lauren: let's get you

company just announcing that immelt will be replaced by john flannery, flannery is currently presidentceo of general health care. as mike block pointing out just a short while ago this move is not surprising and was expected by some but you ask why broadly speaking because since jeff immelt took over as ceo of general electric, in september of 2001, that stock is down 28%. what have the dow and s&p done, they are up triple digits. those broad market gains, you invested in index fund you would have more than doubled money. you put your money on jeff immelt running ge, you would have lost money. that's point-blank, mike, what we are talking about. general electric shed low-margin businesses like the -- they got out of the lending business out of the financial business, got out of the appliance business but it's not enough to satisfy investors. >> heather made a point earlier where they have been promising for shared targeted and couldn't make them anymore. they have legacy businesses. they have come contractual revenues in a lot of business that is -- businesses that are stifling busines

taking over the top job is john flannery who heads up ge's health care division. investors like the news sending shares up 3.5%. morgan brennan has more on the future of ge, a company that was an original member of the dow >> the change at the top of general electric comes after 16 years. over that time, there have been many grumblings about the stock price, a fact that hasn't eluded the man soon to be in charge. >> no one's happy with the stock price righ or some of the cash, you know, pictures that we've had. we know we can be better at those things. so i'm going to do basically what i've done in the health care business, spend a lot of time with investors, with customers, with employees, listening, hearing what, you know, people think about the company. >> flannery is a 30-year ge veteran. he's held a number of top posts, including health care where he turned around the flagging business. under disappointing financial metrics, the key will be how he plans to grow the company. >> we're really looking for mr. flannery to really lay out the strategies and where th

you know, and look flannery's a finance guy.lifer finance guy he may be a lifer at ge but he's really a finance guy so i'd consider him as much of an outsider as you can get to being an insider and so, given the influence that a trian's going to have, given how unhappy some of the top shareholders are, i mean you could -- i mean, we're told that he's going to do a very quick and serious portfolio review >> right >> and if you're a new ceo and you come out of a portfolio review and you don't do anything that would be -- that would be a statement. >> we've seen that jeffrey bornstein who was in the running perhaps to take the top job has been upgraded to vice chairman role the other name that was bandied about was steve bowles who runs the power business do you think he stays? >> well, shareholders really want bornstein to stay i mean, he's done a solid job as cfo and people connect with him. i would imagine if history is our guide that steve bowles will probably not stay. >> okay. okay it's an interesting one. we appreciate your

john flannery is starting with the top to bottom review of the company.ie was here with the details. he is getting moving. >> we should point out, the stock is now popping on this report as i put it out on social media. john flannery, the new ceo is a move that i've foreshadowed back in march when i said he was on the hot seat. [inaudible] he was basically saying it's time for him to pack it up. the cost cuts didn't materialize he did step down and john flannery is taking over. it looks like he's not taking any chances with pelts. this is what we hear inside. they're saying flannery is now doing a top to bottom review of ge business. there is where it gets interesting and why the stock is probably moving in the last five minutes. on the table would shrink the size of the company. ge has many units but it has three principle units. as you know, they' almost done selling ge capital which was once one othe biest units. we understand inside the company , on the table, at least to be looked at, it's clearly something that flannery and his team look at is furth

jonathan: what about the flannery?ink he can turn around quickly because i don't think anything is broken here. we need a new messenger and we got that made somebody to take a fresh look at the portfolio. to ave long advocated breakup here. the traditional conglomerate model does not work anymore. ge has great businesses any ability to create shareholder value if they do the right things. breaking up the company, lay that out for me and tell me how realistic that is. >> i think the most logical first thing that flannery would consider doing is to spin off the health care business. it's a great asset and it would trade well in the marketplace and create value. after that, they have the ownership stake in baker hughes and that's an ownership stake you want to monetize as soon as you can. yet have not bought bigger so it takes time to do that. after that, we would love to see a standalone aerospace company and a standalone powergen company. four distinct entities. if we cannot get four distinct entities, we would love to

flannery? >> that is a good question.perational experience and has run health care and done a good job, but he rolelso in the strategic where he was looking at all the businesses. i'm not sure there will be business changes. in terms of management changes, it is unclear to me. forn't have a good feel where he might make shifts in the management team at this point. tom: i need to give a profound thank you to ian shepherdson. we would love to have both of you back here. with all this breaking news, so we will continue on bloomberg radio with you guys. francine, will we have a prime minister by 2:00 p.m. new york we have theresa may. the question is whether she will stay. this is probably the most significant question for the eurozone and the u.k. it was on the 19th it of june 19th of june that present negotiations were going to start and now depends on whether theresa may can hang onto her seat and stay prime minister and see whether these negotiations start on time. francine: we will see. a foreign exchange report, quiet,

what changes could john flannery initiates from the start? yvonne: what are going to be his biggest challenges than? -- then? >> he is going to do a very thorough portfolio review. he was asked to come in and be a first set of eyes, looking at all of ge's businesses. it is something he is probably in a good position to do considering most of his career has actually been in ge capital, which they do not really have for the most part anymore. you know, he does not have these loyalties to a lot of ge's all-time manufacturing businesses that may be some other executives might have. in and lookcan come at what makes sense to keep in ge, and what does not. anchor: he said before that results speak for themselves. he certainly delivered results in his tenure there at ge, in the health care unit. is he too much of an insider? does ge need someone from the outside to come in and invigorate this company? rick: the interesting thing about john flannery is he has been there for 30 years, and a lot of ways, he is an outsider. like i said, he was in ge cap

johnll be replaced by flannery, who oversaw a jump in profits at ge's health care unit.oared in more than 18 months after the announcement was made. cane have a track record we be proud of, a window in which we can be better, build on our strengths, make sure we are known as an execution company that can deliver for all constituents, including customers, employees, and shareholders. the employees, we are the vehicle to get there. >> global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. mark: a check on the asian markets recovering from the tech tumble with focus is shifting to central-bank decisions this week. gold dropping to the lowest in a week as a fed rate hike looms. the kospi and topix joining the regional recovery. addingnzhen benchmark 1%. in the commodities space, ace metals drifting lower as china tries to limit, giving a lift to chinese auto stocks. proppedghai composite up by miners, but banking stocks falling with the advisor to the banking regulator saying several banks may be wound dow

ge announcement that tim flannery will be taking over.iming of this decision. >> the timing is a surprise. this was likely, or increasingly likely now that trion have stepped up pressure on ge. its original position when they bought the stock was, we like the plan and we are leaving them alone. however, after several years with a weak stock, they decided, we are going to step it up. jonathan: what does flannery bring to the table? he is a 30 year company veteran. what is he going to add to this party? >> there are ge investors that are disappointed. there was sort of this feeling that ge needed an outsider ceo, or an alumnus that worked on other companies and worked non-ge experience. the thing about shaking up this institutional giant. but, you know, flannery is probably the best of the insider candidates, and he has a track record as a dealmaker. >> uber founder and ceo travis aavis kalanick is taking leave of absence without disclosing a return date. in the interim, the company will be made by a management committee as it tries to navi

at the same time, i think flannery brings a very interesting experience to the position in that he has had , his in private equity time in ge corporate development, all that lends a critical eye capital allocation and longer-term strategic planning. from that perspective i think he is going to be well-positioned to handle that balance that the company needs going forward. butlet: but how -- julia: how does he calibrate that, barbara? looking at execution of the operational aspects of the business as the long-term story here, he already said annette facebook message that he was going to finish what a melt -- jeff a melt started. i think it's all about setting goals that investors can see as measurable and attainable . an example of that will be going through the supply chain, for example, and finding areas to streamline the process. get those material cost down, the time it takes products to get the market. if you saw gold around that kind of thing, you would have goal posts showing that you are moving progress forward and that's how you manage short-term expectations. and then that wil

york, matthew whitaker and cnn analyst richard ben-veniste a former watergate prosecutor and john flannery. we brought the heavy hitters here. we're not measuring around today. seriously. richard, i want to start with you. tomorrow marks the 40th anniversary of when five men were arrested for breaking into the democratic national headquarters. there's been so many comparisons to watergate over the past weeks. do you think we're on the verge of another saturday night massacre? >> 45 years since then and it sure looks like it. it looks like we've got a simmering tea kettle here and the president is testing the waters here about whether he should fire bob mueller. he's received bipartisan acclaim. you look in the dictionary for public servant and you see bob mueller's picture. he was an outstanding choice and is doing his job. he's doing nothing other than doing his job. the president just can't pick the opposing team, you know, if you're playing baseball, you don't pitch -- you don't pick the person who pitches for the other team. you don't say you can only have three infielders. you don't m

cuts reporting negative cash flow in the next quarter by the way, i believe triumph's happy with flannery, that's a good sign. along the way in last year, several analysts became openly rebellious about ml's rule especially when the bountiful 3% dividend came into question, something the company tells me the fool hearty, what should you do if you own this stock as my travel trust does? we have been telling people that it's worth holding on to it's worth holding on to for any change, and now that we're getting one, it makes no sense to change. i do think that flannery's successors is tough as nails to be sure again, i default the parcels aed admonition. who did his best and that is very important around here he moved into oil and gas right at the top as the stock jump says today, it was time for a new ceo and time to hold on to ge to see what happens next much more "mad money" ahead, is it time to go for a swim with pool corp? i'll dip my toe in the water to see if the temperature is right for this market. then a controversial one universal display. has been on a tear with growth on full d

attorney matthew whitaker, and john flannery, and former white house ethics lawyer richard painter, and political analyst april ryan. thank you all for joining me this evening. we have a lot to discuss. april, going to start with you because the president is considering firing special counsel robert mueller. the response tonight has been swift. why do you think this is coming out tonight, april? >> well, one, this president has never left us unexcited and anticipating his every move. he likes this, number one. number two, this president really is not a president of governance. he is a president who goes with a knee-jerk reaction in a lot of instances, but he's also a man who feels that his base is with him. he is not the establishment. he is pushing the envelope. and this might just push it too far, if he does indeed fire robert mueller as special counsel in this probe into the russia investigation, that's dealing with issues of obstruction of justice possibly as well as collusion. >> it seems like that all of this is making the president's own making, these problems. because he's the o

john flannery will take over the post in august. >>> in "healthcheck," now, for the first time, the u.s. food and drug administration has asked that a prescription opioid be pulled from the market because of the public health sequences of abuse. the fda asked pharmaceuticals to pull the drug since most users are injecting it since it was approved in 2012. >>> the "action news" team is working on new stories tonight begin agent 4:00 p.m. with temperatures in the 90s, hot coffee is the last thing most of us want in the morning that's where cold brew come in. but you don't have to head to the cafe for the cup. in what's the deal we'll show you how to save money and the trip by making your own at home. >>> it's an unbelievable case of mistaken identity that cost a man two decades of his life. we'll tell you how the man tracked down the exact double housed in the same prison. >>> david murphy is next at noon with the exclusive accuweather seven-day forecast when "action news" comes right back. we believe that you should always have room for the little things. and that your dream kitchen shou

jonathan: what does flannery bring to the table? he is a 30 year veteran.is he going to add to this party? >> there are ge investors that are disappointed. there was a feeling that ge needed an outside ceo, or an alumnus that worked on other companies and worked non-ge experience. but, you know, flannery is probably the best of the insider candidates, and he has a track record as a dealmaker. >> uber founder and ceo travis cais taking a leave of absence without disclosing a return date. in the interim, the company will be made by a management committee as it tries to navigate a wave of scandals. the board will diminish his role once he comes back by giving some of the responsibilities to a chief operating officer, a position in which uber has been actively recruiting, but has yet to fill. >> we have heard it will be three months, now it has been described as indefinite. we do not understand how the management committee will run when they have to decide how much money to invest on autonomous cars. that is not clear. some of that will go to the board, but a l

flannery right now, what do you look at?just break up and sell what i can sell in the strength that's not going to have sustainable earnings they outsourced so much to the business this really hurts them when the dollar's strong, so i would try to be a little bit more domestic, do more business closer to home, but, you know, the truth of the matter is multinationals really struggle with a strong dollar they are not the only one. you know, only 12 of the 50 largest stocks in the s&p are forecasted to have positive sales and earnings in the second quarter. there's a lot of strength in the market as soon as you leave the multinationals multinationals are just not the place to be at this moment >> we got to goings but, i mean, if you're an executive, you can't make a decision about major business units over the strength or weakness of the dollar, can you? >> well, unfortunately, as long as our rates are going to be higher than the rest of the world, yeah, we're going to have a strong dollar the rest of my lifetime, so no one's r

flannery encouraged his staff to finish what his successor started. >> we've got a track record we canof and a window into the future where we are going to be better. we got to build on our strengths and make sure we are more -- known as a execution company and deliver for our constituents especially customers and employees and shareholders that end the company -- own the company at the end of the day. we are the vehicle to get there. emily: just last month we spoke to ge's cfo who, with these changes, will become vice chairman of the company. hear what he had to say about the big picture at ge. >> we are a global company. we serve global customers. we have a global workforce and that is the company we are and that is the company we are going to run. up, bloomberg publishes an exclusive reports that russian hacks on the u.s. voting system could be wider than previously known. all episodes of bloomberg technology are wide streaming -- live streaming on twitter. this is bloomberg. ♪ . . i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customer

i'm hearing sources that they're optimistic about flannery's abilities to turn that company around and believe his financial knowledge with ge gives him a unique advantage everything is on the table, especially the real possibility that ge ends up distributing the shares of baker hughes they announced it had taken a $2 billion steak in ge in 2015. been stepping up the pressure on that company, most recently the castrol numbers raising a lot of eye balls. no statement at all from trian since immelt made this surprise announcement josh, you're the one who had been a vocal supporter of ge and the shares which you recently sold >> yeah. and actually i think is probably is good news i think the pace of change at something the size of ge is not for every investor not everyone wants to sit here for the next six months. adjusted dividends adjust earnings guide. i think you're seeing people get out. you had the behrens story over the weekend. it was kind of bullish in a frenemy sort of way. the share price -- in the meanwhile, you haven't heard frr pelz he works with management he's not like, h

coming from the healthcare business and jeff immelt explicitly recognized mister flannery's experience in india and other countries as helping tremendously in improving his offering as a top leader in the company, in part his progression toward president and ceo. from an anecdotal perspective your point is well taken and it is playing out as we move toward a new chairman and ceo of ge with deep experience and very formative time in his career and india. >> i am president of an aerospace company. i presume the question might go to you. there was during the administration, the george w. bush administration there was a lot of cooperation between the united states and india. since then it has declined. and now the interest donald trump has and vice president pens has in space and stuff, would not be a good time to have cooperation between the countries, that is question number one and related to that, commercial interest, space x being an example so is there collaboration between the companies. >> space collaboration is one of those unfulfilled potentials that needs to be addressed. as you

he will be replaced by john flannery, who now runs the health care division. under pressure from trian fund management. assets in selling off monsanto. according to people familiar two the matter, the companies expressed interest in acquiring the bayer unit. is a matter close of minutes away. stocks falling. ♪ ♪ live from london and new york, this is "bloomberg markets: european close." tech-led selloff. the biggest drop since may 17. we were down 1.1%. biggest drop today for tech years since june what last . index was 4.5% lower. on friday, it closed at its highest level in 15.5 years. the stoxx 600 technology index has risen 228%, the benchmark stoxx 600 has risen 142%. this is sterling percentage moves. remember the? day after brexit vote? we were down by 2.5%, finished down 1.6%, biggest drop since october. friday's close the lowest since april. the view is this inconclusive election result my result in a less hard brexit, which could support sterling. in the meantime, the prolonged uncertainty will keep the currency under pressure, down a further .7% toda

of jeff's retirements, they referenced the new president and ceo, aged woman by the name of john flannery coming in from the ge health care business. flannery's experience was specifically recognized in india and other countries as helping him tremendously and improving his offering as a top leader in the company and part of his progression toward president and ceo, so from an anecdotal perspective your point is well taken and it is playing out as we move toward a new chairman who had a very formative time in his career in india. >> ok. right here. is aj and i am the president of an aerospace company so i presume this you, duringht go to there was aration lot of cooperation between .nited states and india i know the administrator of nasa went to india three times at now time and since then with the interest that president trump has and vice president pence has an space and stuff, would it not be a good times to have more cooperation between the two countries question mark that is question number one and related to that is that convergent interest now in space, spacex being an example, wil

announcement of just retirement, there was reference to the president and ceo by the name of john flannery coming in from the healthcare business and jeff and they'll explicitly recognize mister flannery's experience in india and in other countries as helping him tremendously in improving his offering as a top leader in the company and part of his progression towards president and ceo so from an perspective, point is well taken and it's playing out as we move toward a new chairman and ceo of ge who has deep experience and had very formative ties in his career in india. >> my name is bob johnny and i'm president of national aerospace r&d company. my question might go to stephen. this is about face actually, there was the administration, the bush administration, there was much of ministration between the united states and india, i know that the administrator of nasa has been there a few times and the standard has kind of declined. and now, with the interests president from past and also vice president pens as in space and stuff, with their not be a good time to have more cooperation between

gerri: they have got another long-term ge player, plannery come -- flannery coming in, 30-year member the team there. the beat may go on, we'll see, i want your thoughts on the market before you go. it looks like think it is taking it on the chin again, what do you make of it, where are techs going? >> right new there is a rebalances and refresh. when you see tech sector double returns than rest of market this year, everyone takes a breather, they are rebalancing going into laggards. that is why you see financial doing catch up, material and energy. but on a price to earnings growth, you need to be in tech, they are growing top and bottom line, they have the best balance sheets in the market, they can buyback their shares, they can increase their dividends. or implement them, one spot we're in the market right now, some companies are pulling back their buybacks because they are getting ready for next earnings seen, the companies are buying their own shares, there is an underlying bid, don't sell all your techs. >> i love it when people give you positive news, thank you kevin. >> thank

ge's in flux here, i think everybody's worried about the incoming ceo john flannery l lowing the boom on forecasts instead, i bet it gives a positive update on aerospace it's supposed to be positive, but these days are ge, who knows, right why do you know the stock of ge like my travel trust does? because they have made $2 billion in cost cuttings we start with giant home builder lennar it hit a new high, normally it would be hitting a new low it's great for the home building business lennar will take advantage of the demand, many home builders don't. the pace was slightly more than a million homes. in this economy should be generating at least 50% more than that. we need answers. i bet ceo steve miller will have some great perspective, he always does. then we get some results from fedex, and i think it's going to be a good quarter. i'm looking for the company to guide numbers up and talk about it's role in the privatization of airports, because if there was ever a company that knows how to run an airport, it's fedex. and we have to talk about the food industry because of that amazon-

company naming 30-year vet, john flannery, he ran ge health care.ary. ge stock struggling in recent years, can it turn? >> very tough. let me defend them, he came in valuations were rediculously high. and they were already huge company, where you can't grow the business. on the other end he has not done much to enhance shareholder value, he needed to do more and sat on the ball. liz: yes. what do you think jonathan? >> jeff ir immelt was a crony, stock stagnated under his watch. this company i believe will be broken up or not exist in its current form in few couple of years. >> love you, guys, come back soon. >> thanks liz. liz: we're going to have more after the break, don't go away. .. liz: the trump administration trying to get rid of more onerous regulations. that does it for us. thank you for having us in your homes. we had a lot of breaking news to cover there. gerri willis is in for charles payne tonight. gerri: the 9th circuit court of appeals is siding with a federal judge in hawaii and blocked president trump's executive order. reporter: a

expect firstwe can from flannery, to isolate that part of the business more?there are certain actions under way. in the next couple of weeks, they should close the deal to combine their oil and gas business with a curious use. they will still own a majority stake, but that over the longer term, they might look to exit that. ge health care is also one business they might get out of. vonnie: thank you very much. coming up, a competitor to square and apple. ♪ vonnie: live from bloomberg world headquarters in new york, ism vonnie quinn and this "bloomberg markets." email michael is leaving uber, following charges and directors approving recommendations from a study into the culture at uber. a board representatives said they were going to take on every single one of the recommendations that the panel and the investigation into workplace harassment and culture found. once again, emil michael leaving the company. let's get a quick check on u.s. stocks now. we are seen declines for the day down by 3/10 of a percent. the s&p 500 down a third of a percent. the nasdaq th

he will be replaced by john flannery ending his tenure in which he reshaped the powerhouse.ke chat today, he encouraged his staff to finish what his successor started. >> we have a track record we can be proud of. we have a window in the future where we will be better. we have to build on our strengths. we have to make sure we are known as an execution company and deliver for all constituents, including customers and employees and especially shareholders. they only company at the end of the day. employees, where the vehicle to get there. caroline: last month, we spoke become af.o. who will vice chairman of the company. here is what he had to say about g.e. overall. >> we are a global company. we serve global customers. we have a global workforce. that is the company we are and that is the company we are going to run. caroline: mcdonald's is looking for summer help through "snapplications." use snapchat to reach potential employees. the fast food chain has 14,000 locations in the u.s. amazon is considering selling cars in the u.k., putting pressure on europe's biggest dealers

we know, there was only one positive comment about ge, and that was steifel saying we like what flanneryome had sells and holds on it, might say victory, no victories were declared which i thought was very interesting because a lot of people did want immelt to go, and i thought there would have been at least one guy who went from sell to hold. flannery is so far they're in abeyance >> opening bell in four and a n'gonyerlfines dot awhe. ♪ predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. >>> you're watching cnbc's "squawk on the street" live from the financial capital of the world. the opening bell in about 90 seconds, a busy day today of course the fed kicks off a two-day meeting, sessions will testify in front of senate intelligence la

is a vastly simplified portfolio with many levers for building margins and more market share and flannery outlying plans to improve the company during a facebook live event. >> no one's happy with the stock price right now or some of the cash pictures that we've had we know we can be better at those things i want to focus on those things. i'm going to spend -- do what i've done in the health care business, spend a lot of time early on with investors, with customers, with employees, listen i listening, hearing what people think about the company. >> also worth noting contrary to market speculation, ge saying, quote, breakups shouldn't be part of the discussion executives today reaffirming current quarter guidance so shares of ge soaring on this up almost 4% but it's also worth noting that under immelt's tenure the shares are down since 2001 in september. they are down nearly 30% and they have vastly underperfeorme some of their more direct industrial peers it does seem investors are welcoming the news today >> reading the analyst reports it feels like the consensus is he made a lot of big

john flannery will take his place as ceo effective august 1st.ll remain chairman through his retirement at the end of the year. >> go to newday cnn.com for the latest. >>> thousands hitting the cities and streets across the u.s. to demand equality. los angeles the annual pride parade was renamed the resist march, tens of thousands of people carrying signs reading "love trumps hate." charlotte, north carolina. even though house bill 2 has been repealed more needs to be done for the transgender community. >>> today marks one year since the worst mass shooting in u.s. history, the pulse nightclub massacre. last night, hundreds gathered at the site of the rampage to remember the 49 people killed. some of their family members going there for the very first time. people in white robes, they were wearing angels wings, and they were covering them as they cried. the city of orlando will honor the 49 young lives as we remember each and every one of them now. ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> this morning cnn kicks off a week-long series called "champions for change" and a

the ceo will be replaced by john flannery, currently of ge hea h healthcar healthcare.ch: when you schedule with safelite autoglass, you get a text when we're on our way. you can see exactly when we'll arrive. i'm micah with safelite. customer: thanks for coming, it's right over here. tech: giving you a few more minutes for what matters most. take care. kids singing: safelite® repair, safelite® replace. when i feel controlled by frequent, unpredictable abdominal pain or discomfort and diarrhea. i tried lifestyle changes and over-the-counter treatments, but my symptoms keep coming back. it turns out i have irritable bowel syndrome with diarrhea, or ibs-d. a condition that's really frustrating. that's why i talked to my doctor about viberzi... ...a different way to treat ibs-d. viberzi is a prescription medication you take every day that helps proactively manage both abdominal pain and diarrhea at the same time. so i can stay ahead of my symptoms. viberzi can cause new or worsening abdominal pain. do not take viberzi if you have no gallbladder, have pancreas or severe liv

john bradley, director of publicity for the philadelphia phillies, mary flannery from the philadelphiaernational area port, we have stephanie humphrey, who is receiving our communicator of the year award. you might know her, she's a tech educator. she works with kids in communities with tech. we have so many. that's just the tip of the iceberg. >> you mentioned one of the awards, dan, your organization is getting an award. what does it mean to you and your organization? >> so for hope works, of course, it's so exciting and such an honor, but more importantly, for our young people, our young people are trying to turn their lives around with technology. to have an organization like this honor our young people, then invite them to the conference so they can meet professionals. you can't be what you can't see. when our young people see professionals honoring them, it shows people care and inspires them to move forward. >> i'm sure that's great for the professionals who will be there as well, right? because you are trying to raise each other up but also reaching a hand and saying come on, w

john flannery will succeed. flannery will take a close look at the operating units.from the global forum in hong kong. years ofk over the 16 jeff's leadership, and have created the right portfolio for the 21st century. i think that john understands that, because he has been a part of it. he has put his fingerprints on a is of it, but any new ceo going to take a fresh look. john certainly well. the board will encourage him to do that. taylor: he also said there is no able to they will be fund pension obligations or ge has a $31 billion shortfall, the largest in the fortune 500. the biggest ipo in europe, the raisedgovernment stakes by selling a stake in irish allied banks. they build out the bank several years ago after a tip the country into financial ruin. there's going to be a lot of this through july, august, and of september. then on to january of 2009. that is a 10 year look back. .his chart thanks to our bloomberg tech people for linking old aip to new aip. this is the financial crisis, the moonshot and fiction, this tothe courage of the irish do what no one el

attorney matthew whitaker, and john flannery, and former white house ethics lawyer richard painter, andl ryan. thank you all for joining me this evening. we have a lot to discuss. april, going to start with you because the president is considering firing special counsel robert mueller. the response tonight has been swift. why do you think this is coming out tonight, april? >> well, one, this president has never left us unexcited and anticipating his every move. he likes this, number one. number two, this president really is not a president of governance.

long-time ceo jeff immelt steps down and health care head, john flannery will take over as the company struggles to boost profits. far be it from us, steve to den any great any competitor. melissa: we never do that. >> however, here is a piece from last march, jim cramer has faith that ge's jeff immelt can cut costs. well, clearly he didn't and that's why he is out, no? >> right. i think maybe all of us by the way are former employees of ge, nbc universal. so we're not going to trash them. but let me say this, if i quit fox as contributor and fox, if news corporation stock vaults higher because of that i will not be happy about that or proud. ge, as far as their business model goes it has been a vasts underperformer for a very long time. even with the jump today, those who hold the stock are happy about it, it still trading half of where it was at its peak with the market at all-time highs. it needs to be much more than one person. there needs to be serious restructuring at ge. david: activist shareholders are stirring things up. i like it when ceos are held to account either by the bo

attorney matthew whitaker, and john flannery, and former white house ethics lawyer painter, and april for joining me this evening. we have a lot to discuss. april, according to christopher ruddy, the president is considering firing robert mueller. the reaction tonight has been swift. why do you think this is coming out tonight, april? >> well, one, this president has never left us unexcited and

julia: we have more news on the new ge ceo john flannery that was announced this morning.sent his salary at $2 million. he has a target bonus at 150% of his annual2017, an target bonus will be $3 million. long-term, it will be paid in stocks. that is how it has been displayed. what you need to know to give up for tomorrow's trading day and. -- ahead. this is bloomberg. ♪ scarlet: wants to look forward to. prince house of commons convenes with newly elected emcees. joe: i will be watching usa go data with prices out at 8:30 a.m. eastern. julia: bloomberg television will have live coverage of attorney general jeff sessions's testimony before the selling intelligence committee -- senate intelligence alisa: i am alisa parenti from washington and you are watching "bloomberg technology." president trump today held his first full cabinet meeting in the white house with various members offering praise to mr. trump and his legislative agenda. the president listed trade deals completed during his recent international trip. "the wall street journal" reports they do not have tapes tha