we're going to talk to howard schultz and jack dorsey in a moment.es this change the landscape for visa? do you see it as a positive or a negative? >> i definitely see it as a positive. square is enabling transactions to flow electronically. that's always good. it is easier to use and it expands the potential marketplace. i'm all for it. in fact, visa has a small investment in square. >> interesting. do you -- does it move the needle in terms of the narrative of cash dying in any significant way? how big a deal should we be making of it today? >>> well it's quite a big deal because it enables a small merchants and to utilize the electronic payment system without having to hook up into land lines to buy expensive terminals. it helps people in emerging economies. it's a great thing. and we're looking very much forward to what they do. >> the games have gone off practically without a hitch in london. visa incredible, i would say, just power in owning the games from a payment processing standpoint. has it paid off does it reaffirm your commitment to the

two high-profile ceos, howard schultz and jack dorsey, here in studio 57 to tell us why they're joining forces. >>> we begin with a look at today's eye-opener. your world in 90 seconds. >> we will end a culture dependency and restore a culture of good hard work. >> mitt romney rips the president over welfare. >> romney claims that president obama is trying to get rid of the work requirements needed to collect welfare. >> he the attack is dishonest. it is false. >> when will mitt romney pick his vice presidential nominee? >> the vp can make all the difference. maverick decision of sarah palin helped john mccain clinch another term in the senate. >> mr. loughner will spend the remainder of his natural life in prison without parole. >> now everything is over. we can relax and i think we can really start to heal. >> eastern china got slammed by a typhoon this morning. packing winds of 90 miles per hour, triggered widespread flooding. >> would-be robbers tried to take down this mini mart. >> why i give you my monday sni. >> hillary clinton gave the official toast in a dinner with officials i

howard schultz the ceo of starbucks and jack dorsey the ceo and co-founder of square.o that square's device can be used to buy coffee in starbucks stores. you have invested $25 million in his company and you're going to join the board. what else is there to know? >> i'll start. so we started a partnership so that square could carry all of starbucks in-store payments and pay with square can be used which is our application in every starbucks store in the united states. which is an amazing start and really shows a commitment to the future of payments which starbucks has. >> over the last year and a half, we've already processed 60 million mobile transactions at starbucks. the consumer is going through a seismic change in which cash over time is going to be obsolete. as a result of this partnership, we enhance the customer experience and the other issue, i think, is we have an opportunity through the tools and the resources that jack has created with square to open this up to small businesses across the country and create jobs. >> how did you two get together? jack, did y

. >>> and howard schultz's company changed the world of coffee. jack dorsey's innovation lets anyone take a credit or debit card payment. they'll explain why they're now working together only on "cbs this morning." y a smooth delicious cause for celebration. new hershey's simple pleasures chocolate. 30% less fat, 100% delicious. ♪ i'm teaching performance. here's what they'll need. ♪ get your backpack, your hoodies, harajuku, ♪ ♪ turquoise kinda purple orangish sorta blue. ♪ ♪ backpacks, yeow, ♪ to put their stuff in. ♪ graphic tees and denim, denim, denim, denim. ♪ ♪ backpacks. school takes a lot, target has is all. that's good morning, veggie style. hmmm. for half the calories plus veggie nutrition. could've had a v8. because vitamin d3 helps bones absorb calcium, caltrate's double the d. it now has more than any other brand to help maximize calcium absorption. so caltrate women can move the world. to help maximize calcium absorption. are a sizzling deal, starting at 6 bucks. try our new lunch-size chicken fajitas, sauteed onions and peppers top

howard schultze. we'll ask him how the recent u.s. drought is impacting food prices and see what the coffee chain is brewing up. >> tom: with the london olympics in full swing, we've been hearing a lot about amateur athletes, the time they spend training and the return on their investment. but what about the pros in the olympics? some of them take home big bucks beyond the games. are those salaries worth the money? rick horrow goes beyond the scoreboard. >> reporter: the debate always resurfaces-- are professional athletes overpaid? first off, there's no objective way to answer that. if the question is, "are athletes more valuable to society than teachers or doctors are?," i think few people would say yes. but from an economic perspective, it's hard to argue that athletes make too much money. the big four sports leagues in the u.s. all have very strong unions advocating on behalf of the players. three of those player associations-- the n.b.a.'s, n.f.l.'s, and n.h.l.'s-- negotiated salary caps that give players a predetermined percenta

starbucks ceo, howard schultz talks about one of the most talked about startups in the country.l talks about his new movie, hope springs. that and more later on "cbs this morning." that will do it for the "cbs morning news" for this wednesday. i'm terrell brown. take care everybody. i'm terrell brown. take care everybody. have a great day. -- captions by vitac -- www.vitac.com vitac.com though it is to be a five reporter and mackovic is in richmond where hundreds are demanding answers. >>> as you mentioned, and neighbors expressed a lot of concerned loss nine about what happened on monday night. >>> there was a town hall meeting last night to at the civic center. they wanted to know exactly which toxins were released into the air. they were told there were diesel like compound in the black smoke. numbers of people have to be treated for health problems >>> i would like to apologize for the disruption and the concerned we may have caused last night >>> the other main point of contention, how long it took

howard schultz and square c.e.o. jack dorsey. >> i would imagine that every big tech company has been beatingalt your door begging for a mobile payment deal. what do you think this is the right partnership for starbucks. >> it's true that we have spoken to most of the high profile blue chip tech companies, all of whom are trying to crack the code on how to monetize mobile payments. when we met square and jack. there were two things. like minded values of both companies, and i think square's singular focus on payment and their level of innovation and entrepreneurialship and understanding of the starbuck experience separated them from the pack and it was an easy choice. >> and jack, talk about what this means for square. is it more than a positive development. is it a game changer? >> absolutely. the technology helps the individual and the small business all the way toup the largest organizations in the world. >> and up to this point square has been focused on small or micro businesses. does this focus a signal toward

plus, two high profile ceos, howard schultz and jack dorothy, here in studio to tell us why they areg forces. >>> but we begin with today's "eye opener," your wrld in 90 seconds. >> we will end a culture dependency and restore a culture of good hard work. >> mitt romney rips the president over welfare. >> romney claims that president obama is trying to get rid of the work requirement needed to collect welfare. >> the attack is dishonest. it is false. >> and when will mitt romney pick his vicial nominee. >> the vp can make all the difference. >> mr. loughner will spend the remainder of his natural life in prison with no possibility of parole. >> the man who killed six people and wounded u.s. congresswoman gabrielle giffords pleaded guilty yesterday. >> now everything is over. we can relax, and i think we can really start to heal now. >>> china slammed this morning by a typhoon. the storm packing winds of 90 miles per hour triggered widespread flooding. >>> would-be robbers got more than they bargained for when they tried to take down this store. >> give me money. why i give you money

liz: three weeks ago he was here, two weeks ago he was here with howard schultz said starbucks becauseof course, he is also the founder of a company called square. he said there are always evaluating, but this guy was not born yesterday. we have been following him closely since fox business went on line, 2007. everyone else was blowing him off because there are not public we watched him. this was a guy who has watched things closely, found a lot of companies. he is not down. liz: -- >> one thing we can say for sure is he is smart and watch this facebook debacle. what happened the facebook, i will tell you, is a harvard business school -- what to they call those things, those term papers, expos is. a case study. i'm sorry. a case study. they teach students three case studies. of tell you. when -- went on with this book is really bad command this is a case study that mr. garcia's following. liz: does not surprise you. i am totally annoyed that you have 500 more twitter followers and i do. and just under 20,000. can i make an appeal to viewers? and need to be charlie. >> you know why? bec

when howard schultz ceo came in and turned them around, starbucks has to turn around europe. 't turn around in a day. i bank with howard. i like the call. ellen in maryland. >> caller: cramer! >> yo, yo. >> caller: every one of my stocks is a cramer fave. >> then you have a field of dreams. >> caller: i was in a cramer fave called home depot and they made an announcement, we now accept paypal. so i want to buy ebay since they are also in a relationship with discover card. do i wait? wait for a pullback or go in right now? i need help. >> you've got horse sense! my charitable trust owns ebay. we were selling it and bingo this lightning bolt came. man, put a kick me sign on it that that's how good ebay is. buyer of ebay right here. it will work. this discover deal is as big as anything i have seen. cheryl in florida. cheryl! >> caller: is this cramer? hi! it's cheryl in palm beach gardens. >> how you doing? >> caller: great. how are you? >> real good, man. feeling strong. >> caller: that's fantastic. when are you coming to palm beach gardens? >> excuse me? >> caller: when are yo

. >> it remind me of the speech howard schultz gave on the starbucks conference call, the one who said it wasn't just his company who saw weaknesses but companies run by some of his friends. should have put two and two together and thought of coach. i didn't. it sure made sense schultz would have checked in with the ceo of coach. lou is the best in the business, seen all kinds of ups and downs. schultz knows all the good boys. taking our cue from starbucks and coach may make a ton of sense. how do we explain the strength of whole foods? i mean, all three are expensive. all three can be traded down from. only whole foods seems to have withstood the high end onslaught and come through with flying colors. we heard whispers today coach might be, oh, this is that word you never want to hear, excuse. as word has it, the competitor hasn't seen this kind of slowdown, pleasantly surprised by their numbers. as surprised as we were to hear how well under armor, ralph lauren and pbh are holding up. unlike coach, these companies turned out fabulous numbers. not just here, in europe, too. let's not

. $25 million, a really small amount of money, but howard schultz the head of starbucks sits on square's board. this is huge for square, because starbucks obviously one of the biggest retailers in the world. quite the endorsement. square's technology will let you walk into a starbucks, your first name and picture will show up on the cashier's cash register, and they'll know you are. they ring you up without anybody hanging over a money or credit card all done through the phone, through the square app. you don't have to take your phone out. once people get a taste of this, obviously, laura and jon, they come to expect it other places. so this starbucks part of it is a huge part of it. >> interesting. thank you. >> like norm at cheers. everybody knows your name. >>> they hit their bull's eye on their bottom. zooishgs . >>> right now keeping us in the olympic spirit. bob riddell keeps us on on the straight and arrow. >> business is better than just on target. predators archery in gilroy has seen the number of customers shoot up. >> 50% increase. just phenomenal. >> because of three people w

the key, of course, howard schultz. he gets the benefit of the doubt. people love this guy.od and i think he needs to be more aggressive on steve. if they could just show a little bit of good news, this stock could make a huge move from here. dennis: i love that you focus on schultz himself. sometimes you have to focus on people, not just stocks. charles: wall street will give him the benefit of the dow. if they can be the next time around-- cheryl: i like that charles. charles, thank you very much. dennis: it is 15 minutes past the hour. stocks now every 15 minutes. lauren: first solar is down 15-20% right now. the number one the client on the s&p. it competitors coming out in many cases saying that they expect full year shipment to be down. many of these chinese producers are worried that, like the u.s., europe will soon imposed anti-dumping tariffs. that is the reason for those down arrows. we are down four points on the dow jones industrials. that is your press of the market. the nasdaq is down nearly 1%. the s&p 500 below 1400. back to you. dennis: fed governors are gat

amazon's ceo jeff besos pledging and howard schultz ripping washington and pledging not to donate torisk when you put yourself out there politically. you're going to maybe make some friends and maybe make some enemies. so it's always a political risk for a company to do that. but this is america. they can choose to do that if they want. >> okay. as for those papa john's customers, at least the ones that we talk to, they say 11 cents, 14-cent difference, that isn't going to stop them from buying a pizza. a number added especially if that means actually that more people will have access to health care. 11 cents, 14 cents, not a lot of money when you're talking a pizza buy. >> per slice or whole pizza. >> whole pizza. >> lisa, thanks very much. i want to dig deeper into this pizza story. tom foreman is joining us right now. he's got a little fact checking of papa john's claims. what are you finding out, tom? >> wolf, like restaurant chains all over the country, papa john's does not want to pick up this extra cost to cover obama care. unlike others papa is putting a price tag on that ext

. >> did you see howard schultz from starbucks teemed up with jack dorsey, founder of twitter on this great new product called square. i'm going to get you one. use your iphone to pay for everything. next time there will be no cash, no nothing. you put your iphone up and you'll leave. how do you feel about that? >> i feel like i'm not going to be able to pay because i don't have an iphone. >> i'll get you one of those too. >> i need one of those. all right. let's look at the ten year note this morning. it's been moving up just ever so slightly. now it's at 1.7. that's more than it was. it was 1.4 percentage basis. 1.4 to 1.7. pretty big move. still under 2%. dollar, 1.23 as far as the euro goes, gold has been above 1600. that's another thing, andrew. hasn't been moving up but it hasn't been moving down given that the prospects for -- don't you think qe 3 is coming in a month? >> qe 4 is coming. >> yeah. yeah. yeah. >> we're on our way. >> i don't think they're going to worry about the political ramifications either. i don't. >> you think september, october. >> 8.3% with a dual mandate

remember the -- remember the howard schultz call the last two weeks of june. >> something happened.ly. >> no. huh-uh. it turned out to be that was district nine. >> we should get to bob pisani. he's on the floor. >> maybe he's got pattinson. >> maybe he got some face time with mr. pasenson. >> facebook or face time? >> facebook down by about 2.5%, by the way. that road show that ebers puts on, not helping now. we do really need to get to bob, i'm told. let's do that sfwl b. >> bob? >> a little paparazzi flash. the five women from the olympic gymnastics team which i'm really excited about are ringing the closing bell. including gabby douglas. you should see the crowd for that. i'm sure it's going to be even bigger. retailers moved the market this morning. futures jumped several points when the retail sales numbers came out. better than expected. that's certainly a good sign. i thought the july numbers for some of the retailers -- rather earnings numbers for some of the retailers were very interesting. jim, you talk about michael kors. revenues up 71%? even i was astonished at these n

last night on the ed show, former vermont governor, howard dean, talked about how republicans are selling their plans for medicare. he told host ed schultz that in his view, the gop's biggest mistake was that they mischaracterized the president's handling of medicare. >> they say something that's not true and they're going to spend $200 million saying it again and again hope that somebody believes it. here's the problem that they have -- very few people in america believe that republicans care about medicare. because they've tried to hurt it so many ways. nor do they believe they care about middle class people. they do believe that whatever the faults of the democrats, they have stood up for social security and medicare. so it's propaganda generally and did didn't work in russia and it's not going to work here. generally does not work when people know that it's a lie. >> be sure to watch "the ed show" week nights at 8:00 p.m. eastern on msnbc. >>> well a judge in pennsylvania has decided not to block a new state law requiring specific kinds of photo identification to vote, which could have a big impact on the presidential race. opponents

schultz character? go ahead. >> ha, ha, ha, howard shuchultz.y may sell square at best buy. >> we don't buy starbucks. you know what coffee we love. >> "squawk" runs on dunkin', they give it to you in a box. >> there were people thinking i was begging him to advertise. we report on companies. we don't do that. >> get to the news. >> you really thought i wanted him to, they really thought i wanted. you just want free coffee. >> no, just doughnuts. >>> municipalities coming up with creative ways for solving financial problems the threat of default's rise. joining us is alexander lebenthal, and we're thrilled to have her with us this morning. how bad is it? there's sort of two schools of thoughts in muni land right now. you hear about different municipalities that are defaulting, we talk about it in the news, but on a relative basis it's still -- >> on a relative basis it's still quite small. there was a fed report that just came out that said the defaults are much, much higher than people see normally from what moody's reports and actually the rep