negotiations are or whether they exist or where they might be. >> guys, even with one foot out the door, gene sperling is maintaining his discipline. >> hey, i just want to, you know, to paraphrase john, we're all lame ducks in the long term. >> touche. gene, always good to see you. thanks so much for joining us. >> folks, we're going to take a quick break here. before we do a quick look at the markets which on any other day would certainly be our lead story and they're not a secondary one at all here today, but nevertheless, the dow industrials up 150 points at 15525, nasdaq up about 10 points and the s&p up about .8. within a hair after their all-time highs after a lurch the past month or so. more "power lunch" coming back in two minutes. [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutionizing power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ ♪ unh ♪ [ male announcer ] you can choose to blend in. ♪ or you can cho

zients would replace gene sperling, who has held the post since january 2011 and also held it during the final years of the clinton administration. a popular band gets tossed a popular band gets tossed from a strip club. and a famous star is hit by a paparazzo on a bike candace dold has the latest entertainment news for today's lowdown. (((pkg))) the members of "mumford and sons" found out that they were not getting any special treatment at an atlanta strip club! according to t- m-z and a facebook post from the lounge... there was a scuffle earlier this week..reportedl y over the use of a cell phone... which is forbidden at the club. it was karaoke night.. one of the guys from the band decided to take the stage and perform a few songs apparently,his bandmates wanted to capture his performance, so they broke out their their phones. the club's security and dj were not too pleased, asking them repeatedly to put the phones away. tmz reports... the ordeal escalated, with more club staff getting involved as the band members cursed them out the band had been out celebrating after a performa

president obama is replacing chief economic adviser gene sperling who leaves in january with jeffrey zients. zientz is filling in as acting budget director. he led a white house push to streamline government. and joined the white house in 2009 as chief performance officer. some california workers are getting a pay bump. california's state assembly and senate approved raising the state's mimimum wage from $8 to $10 dollars within 3 years. it'll be one of highest rates in the nation -- surpassing the top paying state, of washington, where workers earn $9 dollars and 19 cents an hour. it's the first minimum wage increase in six years for the golden state. americans are cautiously spending their money. retail sales rose .2% in august, just shy of the .4% gain economists predicted. spending was brisk on items such as cars, furniture and electronics. but sales slowed at home improvement stores and clothing stores 2 major airlines are having a rough ride. united is honoring free fares that were accidently available to customers for 15 minutes last week. the fortunate passenger who snagged t

i spoke earlier today on cnbc with the chief economic adviser to the president, gene sperling, and askedut the appropriateness of going into saturday of a partisan attacks even as this situation was unfolding down there, and sperling answered the way basically you did just there, eamon, and he said the american people expect their president to be able to walk and chew gum at the same time, that he cannot not continue to be the president and talk about the things that he thinks are important at any given moment, but i have to say sitting where i sat as this went on, i was very surprised that they let this pre-planned event, which was basically to commemorate the fifth anniversary of the fall of lehman brothers, i guess basically the apex of the financial crisis, to allow that to go on in light of what was happening just blocks away, a mass murder in the nation's capital. >> 12 people, 12 people killed plus the shooter, and gene sperling and the president want to say it's business as usual, and, i mean, i'm sorry, i just can't buy that. >> eamon? >> it was jarring to hear it from here beca

what is interesting i think is these jobs used to be huge, this job that gene sperling is leaving used to be very big jobs and in the obama administration, it was created in the clinton administration. it was the big thing and in the obama administration not saying it is small. deals with budget talks, all those jobs are downgraded because one person on most matters has the same aside from president obama, valerie jarrett is a special adviser but all roads lead to valerie jarrett even on economic issues so that is downgraded. >> tell me what we know about the compliance dollar they are about to spend. >> we did a story three weeks ago, jamie dimon, the number of put in was $5 billion. may be 18 now but $18 billion over a period of time slowly putting into a. jamie dimon knows he needs to stop the bleeding and he told people we were reporting three weeks ago is there was a regulatory moat that he is going to dig around the company to prevent stuff from getting in. i can tell you the reason i did that story was i was talking to people inside jpmorgan to set how difficult it is to get dea

replacing gene sperling as the next director of the national economic council in january.his is news which our very own charlie gasparino broke on this very show last month. joining a growing team of new economic advisers at the white house, but can they texas economy? will they have new policies that will make this whole economy grow faster? here to weigh in, a university of maryland economist. good to have you back and show. a look at the list of people. jack glue, these are the heavyweights. they will lead the economy to robust economic growth. are you kidding me? >> the president has really put in place people who are going to justify, apologized and sell to the american people three more years of what he has done the first five years. they are there to negotiate with the congress. not there to come up with creative ideas, and that is a good thing these guys may be successful bureaucrats. hiring the designs, the chief economist of the united states, putting him in charge of the new rose surgery at the mayo clinic. he does not know anything about that. gerri: what they

they're much more of a clinton -- now the obama administration, i think for fist time with gene sperlingm geithner no longer there and larry summers not there, you don't have the clintons -- the clintonites sort of running the obama economic policy. >> and were you surprised at all by the outcome of the fight over larry summers here? he was never really normally nominated, but clearly he was going to have trouble getting confirmed. the president wanted to nominate him. were you surprised it played out this way? >> i had experience being an undergraduate under larry summers. i started with him. he lasted a year after i graduated. i think what you -- the prevailing feeling is larry summers, as believed by the president, is a brilliant man and we should listen to this brilliant man as if there isn't a sort of series of normative judgments that comes along with it. i think when you think about the clinton era prosperity, that is what helped justify a democratic alliance with wall street. while things were going well, while you could make the argument that what's good for wall street is good

] [captioning performed by national captioning institute] >> the obama administration now said gene sperling lance to leave in january. he will be replaced by jeffrey zients. zients is a management consultant. he joined the white house in 2009, heading efforts to streamline government and cut costs. on the next "washington journal" former cia operative michael hurley will discuss u.s. arrest from al qaeda related terrorist groups. followed by a discussion on immigration policy. university areon faster talks about people in washington who moved between careers and business consulting, politics, and government. "washington journal" live every morning at 7 a.m. eastern on c- span. let me focus on something called advanced persistent threat. it relates to what i was talking about. that are footprints indications that something is going to occur. one of the reasons that changes need to be made in the cybersecurity posture is that it continues to be looked at in the consecutive order. we need to move to continuous monitoring. we need to move to a continually -- continuous look at the precursor con

in our headlines this morning, the white house is expected to announce the departure of gene sperlingwhen we return, the last major data points before the start of next week's fed meeting. we're a few minutes away from retail sales and the ppi numbers. "squawk box" will be right back. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. [ male announcer ] staying warm and dry has never been our priority. our priority is, was and always will be serving you, the american people. so we improved priority mail flat rate to give you a more reliable way to ship. now with tracking up to eleven scans, specified delivery dates, and free insurance up to $50 all for the same low rate. [ woman ] we a

. >>> another white house -- the white house confirming gene sperling, one of the president's top economic cross the transatlantic by balloons. he lifted off maine with more than 300 helium filled ambulances. he's no stranger to the stunt. in 2010, he used balloons to cross the english channel. new journey is expected to take from three to six days, depending on the wind. now, that's courageous. >> steve: courageous is the guy in the lawn chair. just the lawn chair. remember him? and to control going up and going down, he had a bb gun. so when it was time to go down, he just would shoot some of the balloons. >> gretchen: coming up on the show, we told but this. a teacher giving young students this assignment. pretend you were doing on 9-11 and write a letter saying good-bye to everyone you know. your e-mails are pouring in. >> brian: jimmy kimmel does fashion week. have you seen the melon head fashions? >> steve: they're fantastic. >> this is a men's collection, the models were sent down the runway with watermelons on their heads. >> it's called fashion. look it up. >> you're okay with it?

. >>> jeffrey zients will succeed gene sperling.t is expected to come later today. >>> a rare and killer amoeba found in the water supply of st. bernard parish, louisiana. officials are flushing the water lines with collar reen hlorine parasite. boy came into contact with the brain-eating amoeba and died. the parasite enters the body through the nose. few people survive it. officials however say the water is safe to drink, interesting. >>> you may have received a freebie if you were buying united airlines tickets thursday, the carrier was briefly selling tickets for free on its website. the airline says it accidentally filed fares for zero dollars. this fund lasted about 15 minutes before united got wise and stopped selling the tickets online. the big question, of course, now is will united honor the free tickets? no word yet from the airline. here's betting i wouldn't count on it. >> ooh. >> not free air fares. finally, on the subject of flying, sometimes you fly the kite and sometimes the kite flies you. this is insane youtube vid

[applause] >> the obama administration announced that gene sperling plans to leave in january. he will be replaced jeffrey zients. on the next washington journal, former cia operative. followed by alan gomez on immigration. george mason university infessor talks about people washington who moved between careers and business consulting, politics, and government. >> let me focused on something called advanced persistent threat. it relates to what stewart was talking about. there are footprints that are left regarding behaviors that go on out there that are indications of something that will occur. one of the reasons the changes that need to be made in the cyber security posture that eight have been made -- that have been made is that we need to move to continuous monitoring and we need to move to be able to look at the precursor or the context being set. defeatare never going to the cyber enemy, whether it is a nationstate, organized crime, any organization by having the private sector check for compliance box. that is inadequate. there has to be timely and continual information

gene sperling, the director of the national economic council will be replaced by the director of the omb. he is a longtime consultant to join the white house four years ago as a performance officer and he was charged with streamlining the government and cutting costs. a national economic council post does not require senate confirmation. >> let me focus on something called advanced persistent threat which is something that is discuss both domestically and internationally and it relates to what stewart was talking about. there are footprints that are left regarding behaviors that go on out there that are indications something is going to occur. one of the reasons the changes needed in the cybersecurity, continue to look at an executive order and standards in everything else is that we need to move to continuous monitoring, ma and after that we need to move to continually be able to look at the precursor or the context being set for an attack and we do know what those are. a lot of it has to do with basically analyzing social media. >> we are never going to defeat the cyber enemy, whet

gene stirling announced his resignation today. here is how "the associated press" is reporting the story -- we -- he will be replaced by jeffrey zioents. sperlingldr. for three years. >> let me focus on something called advanced persistent threat, which is both the mastic and international. there are footprints that are left regarding behaviors that go on out there that are indications that something is going to occur. changeshe reasons it ash that changes need to be made is this cyber security options this country has made, and continues to look at and the executive order and everything to move toat we need continuous monitoring and after that we need to move to continually be able to look at the precursor or the context that is being set for an attack. a lot of that has to do with analyzing social media. >> you are never going to defeat a senator -- to feed an enemy. -- defeat an enemy. by having the private sector checking the compliance box -- we did what congress wants us to do. that is inadequate. it is grossly ineffective. it has to be timely and continual information sharing. particularly in the dhs and vertically down to the state loca