up next, the library of congress curator jeff flannery talks about its history, and we see some of the items, including presidential letters, war memorandums, and the rough draft of the declaration of independence. the u.s. capitol historical society hosted this event. it lasts about an hour. william: the library of congress we have been coming to again and again this month. this is the fourth installment of the series. in the past we have focused , mostly on architecture. you might recall we had house thee had a speaker on folklife collection, but this one is different to me. it speaks very clearly and closely to my heart as a historian. i know visitors that come to d.c., they want to go to library of congress, and they go straight for the jefferson building and they are in awe and they should be. researchers cannot wait to read in the main reading room. it lends a certain something to the seriousness of what they are doing. that is the way it should be, but scholars are really know the score walk right past the jefferson building and go into -- you may not like the way it looks, but

[applause] jeff flannery: well, thanks for coming today, and i feel especially honored to be here at the invitation of the united states capitol historical's ready. chuck and lauren have been very helpful in preparing the talk. it is a great honor to be here to speak to the group. is purpose of my talk today for the manuscript division, but it is more than that. i want the audience to know who we are, who the manuscript division is, how we work. and our place at the library, the role of scholarships. i am hoping that you will be enlightened to some degree by my remarks, and then afterwards if you have questions, i would be glad to answer them. technology that many of the people whose papers are at the library of congress would have had no inkling of. power points. that is many of these folks predeceased us. there are some questions about this. i will start with the basics. what is the manuscript? how do manuscripts get used? how does the manuscript reading room different from the main room and other reading rooms, and how do we achieve our mission? that is questions about the collect

seems happy to be held accountable. >> i think flannery is, all systems go, but i think the company stuck i think thatjeff inmel made bets getting out of finance buying oil at the top. david, almost unforgivable to mention those things but i said "almost" because they have to be mentioned, and flannery can only -- david when you're given a two, four, five, six, seven -- you know, you're not going to draw an inside straight. he can't he can only do so much with this incredibly bad hand. >> right right. >> incredibly bad hand. >> roughly 16 years ago mr. immelt began as the ceo. >> an incredible unsustainable hand. >> and came in as you said before -- >> i think the man who gave him, who was very tough, the man who ran ge, jack welch, spent time with david taylor at proctor, and proctor seems to be in a tnp mode against mr. peltz tnp being, "take no prisoners. >> i think it's fair to say the level of hostility or at least -- a little bit more passion. >> passion. >> passion has risen on both sides. >> yeah -- >> mr. taylor later today. a new fight letter out by procter & gamble all ab

flannery as talked about that, trying to get it under control. we're looking at the relative value. looking at the debt to relative value, these are big. if you look at it relative to its peers, all of that green, 94%, at the top compared to its peers with the debt load. want to see if they have cash to do that. one of the big stories on the bloomberg right now, bloomberg intelligence, our guys doing a great job analyzing how they clawback the expenses that will come. this is a company that is a powerhouse for a very long time, but there are a lot of questions. expenses quite high on the other side. oliver: everything having to do with debt. julia: brilliant. great to chat with you, oliver renick. in the midst of the august us report, unemployment beat expectations. the good sign coming from the industry and the details on the jobs report. from new york, this is bloomberg. ♪ julia: what'd you miss? u.s. 10-year yields hit an intraday low for the week. take a look at my chart here. i want to point you over on the right hand side. 10-year treasurie

liz: i'm very nostalgic. >> -- flannery is from what i understand engaging in a top to bottom view hegnificant layoffs. in peltz's guys get on the board i think that is indication they will shed even more assets. that this will be restructured in a moderate callaway. you will see a much smaller ge, a much more defined ge for the future. i think the stock will change on that. i think the stock should, if they go this route, that is a route that could jazz up the stock. if you look at all analysts reports, they say this thing is lumbering giant. they don't give it a lot of credence. if you putt peltz on the board, there will be radical change. that is what he pushes for. he constructively engages but he also pushes for a fairly radical restructuring of any company he gets involved with, including this. and here's the interesting thing. i think they have a good relationship. liz: we're about to get cut off. you and i have a great relationship. thank you for the story. >> wish they would give me more than 30 seconds to tell, break real news. liz: that is called -- >> i know the u.n. is ca

the new ceo john flannery is eliminating $2 billion by the end of next year.rting now, flights on executive planes will be scaled back and replaced by charter. he wants to increase earnings and reversed the biggest stock slide on the dow. haidi: an indian binding $2lionaire plans to spend billion on anglo-american shares, 9% of the company. investment and he does not intend to launch a takeover bid. stake started build a 12% . it has been benefiting from recovery in commodity prices. david: the next story is full of irony. $.99 only has hired guggenheim partners to structure $1 billion of debt, becoming the latest retailer to admit problems. $.99 only has struggled to compete against rising online rivals. the bonds have been trading at distress levels for about two years now. china has set fixing the since september 1. the next guest is a top ranked forecaster. he joins us now from shanghai. this chart.row up it tells the story of what has been going on for most of this year, the weakness in the greenback, and that is reflected in the fixings and the trajector

flannery will present a blueprint of those cost cuts to investors in november. jobs will go before that g.e. stock has fallen twenty three percent this year alone. and wall street showed a higher open today the dow jones industrial average was up two point three percent at opening at twenty one thousand nine hundred forty one and then the s. and p. five hundred went up two point two seven percent at two thousand four hundred sixty four the commerce department says pending by u.s. consumers a group point three percent in july the highest in three months also the federal reserve's preferred inflation measure increased one point four percent from july two thousand and sixty eight it's the smallest year on year increase since december two thousand and fifteen so we've got tepid feelings about a rate hike by the end of the year on top of that wages and salaries grew the a.d.p. jobs report indicates two hundred thirty seven thousand jobs were added definitely an up shot to what was projected now in the previous session just after the government raised its estimate of

this is assigned john flannery is moving ahead with efforts to streamline the company.ou know what that means, lauren. cutting costs. lauren: major story yesterday. shooting at a tennessee church that left one person dead and seven injured after a masked gunman opened fire sunday night. an armed usher being hailed a hero for taking on the shooter. live in tennessee with the very latest for us. good morning coming trillion. it's been a good morning lot of details to come for sure. we are at the scene of the church where police wrapped up their investigation a couple hours ago out here yesterday scouring the scene searching for any details for 39-year-old melanie smith was shot and killed as she left sunday services around 11:00 yesterday morning. six others were injured inside the church. here so we know that the shooter right now. he's in police custody and charged with murder. his name is amanda simpson, 20 federal legal u.s. resident amateur from sudan in 1996. parishioners from the church tell us they used to see and hear a sunday services. years ago he is to be a me

new general electric chief executive officer john flannery now says the company will reduce staff at corporate headquarters and those occupying non revenue producing jobs in departments such as human resources recruiting corporate security helicopter and jet operations and procurement just to name a few no numbers have been released but those close to the situation tell the media that the cuts will be aggressive the plan is to take out two billion dollars in cost by the end of two thousand and eighteen according to g.e. flannery will present a blueprint of those cost cuts to investors in november but jobs will go before that g.'s stock has fallen twenty three percent this year alone. and wall street showed a higher open today the dow jones industrial average was up two point three percent at opening at twenty one thousand nine hundred forty one and then the s. and p. five hundred went up two point two seven percent at two thousand four hundred sixty four the commerce department says pending u.s. consumers a group point three percent in july the highest in three months also the federa

up next, the library of congress curator jeff flannery talks about its history, and we see some of theuding presidential letters, war memorandums, and the rough draft of the declaration of independence. the u.s. capitol historical society hosted this event. it lasts about an hour. william: the library of congress we have been coming to again and again this month. this is the fourth installment of the series. in the past we have focused , mostly on architecture. you might recall we had house thee had a speaker on folklife collection, but this one is different to me. it speaks very clearly and closely to my heart as a historian. i know visitors that come to d.c., they want to go to library of congress, and they go straight for the jefferson building and they are in awe and

it places you alongside people like flannery o'connor and ralph ellison, and some of our great authors. it was my first national book award when ta-nehisi coates won. and i remember being so grateful for his book and for his speech deeply thoughtful take on the united states that we actually live in, to a wider audience. even though we think of reading as something that we do alone in our rooms by ourselves, we talk about books, and we take the ideas that we learned from books, and the stories that we've heard about books, the characters that we've fallen in love with in books, and we bring them to our conversations. they make us more empathetic. they connect us to one another. they make people who are not like us more human. a child that picks up a book and learns to read, and learns to love reading is the very beginning of a lifelong reader. the more that we make sure that our young people's literature reflects the reality and experience of the world, that our young people are growing up in today, the more that kids are going to think that books are relevant to them in their lives. t

ryan fitzgerald >> thomas fitzpatrick >> richard fitzsimmons >> salvador fiumefreddo >> christina flanneryileen flecha >> and my cousin stephen your life is a blessing in your memory a treasure. you are loved beyond words and missed beyond measure. >> and my son and firefighter in engine 35. i have come to realize that you actually gave on that day your greatest gift of kindness and charity. you put all else aside today amid your wife, daughter, your unborn daughter, your family and friends. you put that all aside to help another. blessed is the man that lays down his life for another. >> that selfless act of kindness comes from love. and where there is love, there is god because god is love. when i put my head down at night, i rest easy knowing you are surrounded by gods love. and i think my sweet jesus and his beautiful blessed mother for helping me to walk through my journey. and until we see each other again, may the good lord bless and keep you, my beautiful boy. >> carl flickinger >> matthew >> joseph walkin flounders >> carol flies >> david fodor >> steven vogel >> thomas foley >> j

flagg christina donovan flannery eileen flecha >> and my cousin steven j. fear relevantly.ry a treasure. you are loved beyond words and missed beyond measure. >> and my son firefighter lee s. failing engine 235. lee, people have called you a hero and i believe that you were. but what i've come to realize is that you actually gave on that day your greatest gift of kindness and charity. you put all else aside that day, your wife, your daughter, your unborn daughter, your family and friends. you put that all aside to help another. blessed is the man who lays down his life for another. that selfless act of kindness comes from love, and where there is love there is god because god is love. and so, lee, when i put my head down at night, i rest easy knowing that you are surround by god's love and i thank my sweet jesus and his beautiful blessed mother for helping me to walk through ny journey. and until we see each other zbe again, lee, may the good lord bless and keep you my beautiful boy. andre g. fletcher carl m. flickinger matthew m. flacco john joseph florio joseph walken flo

but, you know, i think jeff did a great job while he was there john flannery is a tremendous leader andto go into the business, clarify the strategy and move the company forward. so, i think all of the directors are very excited about john. >> we appreciate you always taking time with us. thank you. >> thank you, david. >> lowell mcadam, chairman and ceo of verizon back to you. >> great stuff, david. >>> when we come back, we'll go back to david at the goldman's communacopia conference. he'll sit down with les moonves, chairman and ceo of cbs. >>> we'll tell you why martin shkreli's bail was revoked when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. this is not a cloud. this is a tomato tracked from farm to table on a blockchain, helping keep shoppers

john flannery was the former m&a chief.ould be a make focus for him in the transition. be finish line is revised down by about 8%. ir sales and revenue remind, but the disappointing outlook for august still holds. they say the holiday season profit coming under expectations. more negative news about the athletic wear world when it comes to retail. a selectica talk about this forever. sprint up by almost 4%. t-mobile up by almost 1%. softbank would own 4% of the combined company and deutsche bank would have a majority stake, but will they, won't they question mark it is the best kept deal rumor in the markets. david? david: thanks so much, alix. major headlines overnight as president trump and north korea traded threats. north korea's kim jong-il responded with warnings of what un calls -- kim jong-i the highest hardline level response ever. wilbur ross: china came out with a strong statement that there central bank will cut off chinese banks from dealing with north korea. main tradingn the partner for north korea. ,ou cut o

flannery has take away the gulfstream for various ge executives.ng $15 billion to a -$2 billion free cash flow and am i right, you are loading the boat on ge? mr. ward: loading the boat may be too strong, but it has been one of my recent purchases. this is a stock that has fallen from grace. everyone hates this stock, you can see a decline in share price this year. i think the stock at this level is cheap on its dividend, it is cheap on its aspect of earnings. i think it is technically oversold. there is a new ceo that will be a catalyst for change. he is cutting cost. you mentioned the airlines, the ge fleet is going here he is going to sell some assets, he announced the sale of some , alcatel, ihis week think. there is a catalyst for change, stock is hated. the market is up substantially, so i think it is a great contrary bet. tom: on the x access, we hear you have aaxis, timeline of patients knowing gabelli ared th going to be patient. i think this will be a stock that adds to the portfolio over the next six months, i think we are in for turbule

up next, the library of congress curator jeff flannery talks about some of the items, including presidential letters, war memorandums, and the rough draft of the declaration of independence. the u.s. capitol historical society hosted this event. it lasts about an hour. >>