icahn. now carl icahn responds to that as we watch how this situation is going to unfold.y, the shareholder vote is july 18th. one day before that carl icahn will appear at our delivering alpha event in new york city where he'll sit down with me for a keynote discussion which will be very interesting give the timing and how active carl icahn has been in the markets in a number of names this year. those are the other speakers expected this year as well. it is a true all-star lineup. treasury secretary will be there, jack lew, along with nelson peltz and pete bhara. >>> navistar is surges on news it's replacing its cfo. but is it enough to give that company a much needed boost. let's debate it. old friends back together again. mike murphy. >> so navistar is a name we've watched tp it had a huge spike once icahn got involved. it recently pulled back 30%. i think the selling is way overdone for a couple reasons. it's outperformed a number of names in the space to the downside. the new ceo is getting rid of people, putting together his new team. he has his team in place now and

just a quick question about the icahn bid.he faced a little bit of a credibility gap all along. he raised some reasonable issues about the problems with the michael dell plan, but at the same time, as you point out, he's not been able to lock up all the financing that he needs. technically what he's presented is even a bit. i use that word wrongly, right? it's a plan but it's not firm yet. >> well, it's a recapitalization plan that by the way though is somewhat embraced by investors and the idea being if you're going to lever the company up to go private, mr. dell, why not lever it up and give it a huge dividend and then we'll take the so-called stub and we'll see how things go. in icahn's plan, if he were able to fund it, it would be as much as a $12 dividend and you'd have 165 essentially option if you will, kate, but the question is can he get there? and most recently last week when we heard from the special committee, we saw the so-called liquidity gap meaning the numbers don't add up right now to be able to take on the de

get you back on soon because there's very important breaking news on dell involving carl icahn. swofford at the nyse, what do you have? >> reporter: following this story today about the most recent letter that carl icahn wrote to dell shareholders where he proposes a tender offer for $1.1 billion shares at $14 billion each. within that letter mr. icahn also states that he has obtained from a quote, unquote, major bank, the willingness to take $1.6 billion in financing available. can i tell you from a source that jeffries -- jeffries is the major bank mentioned in the icahn letter that has agreed to make $1.6 billion in financing available. i can also tell you that i spoke with mr. icahn just a short time ago, and he told me the following regarding the letter and the call for the tender offer. despite dell's own dire projections, he says, the company's own consule sultant, bcg, which they failed to mention, stated in the most conservative case that dell would make operating income of $3.3 billion in calendar year 2014. mr. icahn then said, again in his words, after the tender off

icahn had to say.y the way, carl will be one of the big keynote speakers at our delivering alpha event on july 17th here in new york city. you can get more information. i'm looking forward to our conversation there. as for the other big activist story. dan loeb reporting he's upped his stake in sony to 70 million shares, or nearly 7% of that company. loeb revealing the details in a letter i obtained last night, the second letter he's now written to sony's ceo urging the company to separate its entertainment and electronics unit. loeb writing the following. we remain convinced that the proposed transaction will strengthen the company as a whole. the newly listed entity will thrive with a governance structure that focuses on increasing profitability, competitiveness and accountability. we expect that this transaction will strengthen rather than diminish sony's ability to exploit meaningful synergies between the entertainment and electronics divisions, a goal we share. a third point, also reiterating its

losing. >> carl icahn can do a lot of great things but when it comes down to it the shareholder hasdecide do we take this and given the markets were there they will probably take the offer of $14 per share. melissa: what do you think? they think that silver lake wins the day. >>th people live rather side s with the guy who started in the dorm room but. >> peace started in his dormmeli room but has driven it into the ground? ceo that is not apple orech samsung should be fired because they all missed ttis parfum revolution everybody screwed up. the whole pc business came on with it is easy to say fitted is hard to compete compete, why hasn't he done it already, why doesn't he do it while the company is public? >> i agree with you. if you read this, and it doesn't take long, you will be relatively uninspired by what wh michael dell has to say. it is generic, it does not say anything. whether he says anything here or not or if carl icahn is the right person to be a pt of dell, there's only one thing that matters, to shareholders want to accept the price for dell right now? the price of

up next michael dell versus carl icahn. the face-off only the power of money could create.ow does turning personal now. plus reason the government has gotten so good at spying on you is because it is coaching top talent from silicon valley. maybe you didn't know that. a stunning revelation in the nsa scandal. more "money" coming up. at od, whatever business you're in, that's theusiness we're in. with premium service like one of thbest on-time delivery records ana low claims rat, we do whever it takes to make your business our business. od. helping the world keepromises. this man is about to be the millionth cuomer. would you nd if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dolrs. congratulations you are our one millionth customer. nobody likes to miss out. that's why ally treats all their customers e same. whether you're the first or the millionth. if your bank doesn't think you're special anymore, you need an ally. ally bank. your money needsn ally. ♪ melissa: the battle between two wall street titans is getting bigger and personal, by t

i got sandwiched with icahn and icahn. >> all queens boys. icahn, and jack lew and me. >> it takes a ton of people to cover him. >> what is in the water in queens? nothing. nothing good at all. >> it stunts your growth, and that is all i can tell you. >> dish network is not going to submit a revised takeover for sprint which clears the way for japan's softbank to continue with the offer, and sprint's decision to cut the due diligence short, and they are competing to buy the rival company clearwire. they have a tender offer out there, and the minimal condition is 35% which may be tough to do, but as you know the special committee of clearwire says they favor the 340 of dish over sprint. there is going to be a 22%. we will hear from the son in a big way, and i have yet to meet him, and i can't wait to bring you the interview one day. i am pounding the fist, because it is getting closer. >> maybe closer to, because of maybe some clairity. >> and guys say, he is going to shake it up. >> and he is going to shake up verizon and at&t and you know th

icahn offered up $12 a share to take the company private last month. in a regulatory filing, dell claims it's not enough money to keep the company going and pay a dividend. dell revised icahn's bid to $9.35 a share. ceo michael dell has proposed a deal for $13.65 a share. a buyout meeting is set for july 18th. united airlines is selling subscriptions. for $349 a year, passegeners can check their bags all year. for $499 they get added leg room in economy plus seats. last year, airlines took in $36 billion in extra fees. the fees, however, have become a frustration for people who fly. the sec voted unanimously for stronger rules on money market funds. the $3 trillion market came close to toppling during the 2008 financial crisis as investors rushed to withdraw funds. now, the sec is proposing money market fund prices "float," similar to bonds, and a 2% fee on certain investor withdrawals. bernie madoff is offering sage advice on how market regulators can stop scams on wall street. he spoke to a marketwatch reporter from prison, where he is serving time f

. >> an interesting new development from carl icahn. do you want to make a comment?'s incredibly interesting. what icahn is looking at he's got limited risk. he's trying to force them into doing something. what we really don't know is when he's going to come up with the financing for his own offer. >> let me just let you know as well as part of this letter from icahn, he says a major bank has agreed to $1.6 billion in financing. is that right, john malloy? >> but he's still short. >> he needs $5 billion -- >> he's putting 2 up on his own and 1.6. >> but it's symbolic as well in that if there was any balking among major firms to get involved in the financing, you get one, you get two, you get more, you get your number. >> we don't know who the bank is and we don't know in that letter because i haven't seen it what the conditions -- >> it's not the international finance branch of yemen. >> but we don't know what their conditions are. if their conditions are on him coming up with the rest of the financing. if the conditions are inputting $3 billion instead of $2 billion

carl icahn will be a keynote speaker at cnbc's delivering alpha conference next month. tickets are still available. deliveringalpha.com. ty, up to you. >> days after terrible fighting in turkey, another nation on the rise. a country investors have been very optimistic about breaks down into a night of massive violence. we'll tell you where it is and what happened just ahead. >>> plus, jane wells catching up with one sorry guy in l.a. here's jane. >> reporter: scott london threw away a 30-year career at kpmg, big job, big pay, all over $70,000 in kickbacks, and before he had pleads guilty to a judge, he talks to us. we'll have that after the break. >> five big wall street names from five big wall street firms with five big predictions on where wall street is heading in the second half. it's all on one big hour of "power lunch" this thursday 1:00 p.m. eastern. you want to know where the markets are going? these people get paid to look forward, and they are only on "power lunch." don't miss "the power summit" 1:00 p.m. eastern thursday. ♪ norfolk southern what's your funct

icahn says he continues to talk to lenders for up to $5.2 billion in financing.who want to back the effort would first have to vote against the buy outoffer and then hope the slate of directors will pursue that proposal. dell shares in germany this morning have been a little volatile. they're thousanow down 1%. and we'll be watching them. dish network is dropping its pursuit of sprint. clearing the way for softbank to buy the virless provider. dish says it will focus its efforts on its offer for clearwire. it's currently locked in a battle with sprint which is trying to buy the rest of the company it doesn't already own. that's clearwire. dish says it wasn't practical to submit a revised offer for sprint by tuesday's deadline even though it still sees the strategic value of a merger. additi dish, sprint, softbank are up. clearwire down just slightly. ross, back to you. >> good stuff. great to see you. >>> coming up, fedex set to report fiscal fourth quarter results in around 90 minutes. how has the package delivery giant adjusted to the slump in its express servi

icahn is facing -- >> which you have noted from to get-go, by the way. >> we have. we v. achl. -- we have. and again, scott, it is a interesting belief for companies that if you can line up a company to lever it up for go transaction, and you can lever it up for us, and pay us a huge dividend and that is the icahn plan, but it is not likely to come to fruition, and in fact, the key is this july 18th shareholder deal where you can vote it down and then hope they come back with a proxy fight, icahn and then a new management team, and unseat the board and put in a new recap deal, and then put out another plan where the debt will be taken out by the private dell and mr. dell will control 75% of the new company. >> well, again, both of the scenarios presume that a hewlett packard, and a reig vnvigorated hewlett packard would not be -- let's say impacted. >> yes. >> and then i keep saying that this is financing issues. why are hewlett packards and dells? well, the dells come in to make the deals. if that balance sheet is levered either way, hewlett packard can come in either --

carl icahn, the chairman of icahn enterprises will be a keynote speaker there. conversation, so for more information please go to delivering deliveringalpha,.com. very, very excited about him joining a great lineup including the treasury secretary of the united states, jack lew. we at allied the results and you said murphy won the debate on netflix. >> adt. >> josh? >> citi. >> stephanie. >> boise cascade. >> joe. >> expedia. >> that does it for us. "ha "power lunch" starts now. >>> on the rise today, the markets, the bulls back in control right now. and on the rise now, the great american housing market. home builders sentiment jumping in june to levels not seen before the start of the housing crisis. happy home builders, ladies and gentlemen. also on the rise, oil. wti, west texas intermediate, crossing the $100 barrel a mark today. this as the u.s. says it will send weapons into syria. iran reportedly says it's sending

we've got breaking news in the ongoing fight between michael dell and carl icahn for the future of dellyone talking about who they would approach as a potential ceo. now we have icahn saying is along with southeastern asset manageeent, they have approached several candidates. sources on condition of anonymity say these discussions are private but among the people they have allegedly approached, pc boss todd bradley. bradley has responded in an e-mail to journalists about this, saying, i haven't been contacted by anybody. so keep an eye on this fight for control of dell. >>> the nsa has been monitoring the phone record of several citizens of this country through three major phone networks. and now, word is out that they're also tracking our e-mail, web searches, they're doing it through sites like google and facebook. there is a real important question. how can you tell if your phone or your smartphone for that matter is being tapped? and what is the best way to protect yourself? joining me is greg smith, ceo from cool span who we highlighted just recently on this very issue in a fox bus

icahn along with southeastern management have been at odds with dell founder michael dell and silverrs. dell and silver lake offered $24.5 billion to take the pc-maker private. >> >> would you pay to tweet up to space? a new startup is launching a website for 25 cents you can send messages to a star 17 light years away. the company aptly called, lone signal will send messages from a either station with hopes a alien might read it. that is the latest from the fox business network, giving you the power to prosper. up meeting a lot more people but a friend under water is something compte different. you don't get that very often. it seemed like it was more than happy to have us in his home. so beautiful. avo: more trav. more options. more personal. whatever you're looking for exdia has more ways to help you find yours. liz: electronic cigarette company, now they're called e-cigs, david. that is the term. njoy, raising $75 million in funding from investors like sean parker and singer bruno mars but big tobacco companies saying wait a minute, the little guys are doing so well with these th

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plus will karl icahn bid for struggling blackberry. how you can profit from a potential takeover. and think apple's going below 400 bucks a share? scott nations has a way to double your money if it trades down to 395 by the third week in august. we begin now. live from the new york stock exchange in times square, these are the traders. another volatile week, the first losing month of the year in the books. there's trouble ahead in earnings season. why it wasn't the performance of stocks that reported this week, but perhaps what the companies said this week, and a couple of notable examples, dan. >> a week that was really come natd early on by fed speak. we got a glimpse of what we may see in july for q2 earnings. nike was good for all intents and purposes. they did speak to china in the second half. could be worse than they expect. not different than what we heard from fed ex. they are talking about weakening demand in asia or the weak global economy. and the sen jury that gets their revenues from overassess, levered to global growth and i.t. spending. they are talking about weak

carl icahn is now on twitter. investor tweeting just a few moments ago, twitter is great, i like it almost as much as i like dell. @carl c icahn is now on twitter. just a reminder you're going to hear from carl directly at our delivering alpha event next month, july 17th, keynote speaker. we're so excited to have carl in the fold on what's going to be a great event. a lot of big names are at that event of ours, our signature event. www.deliveringalpha.com for more information on that and how you can get tickets. so check that out. >> and doug caster is off twitter right now. >> he is. thank you. twitter is great. i like it almost as much as i like dell says carl in his first tweet. the biggest pops and drops now. drop for brazil etf, dropping 3%. josh? >> let's just call it what it is. it's a crash. this thing is down 20% in like four weeks. i don't know of another market that's dealt with this much pain year-to-date and i got to tell you, i don't think it's over just yet. the head winds here just seem insurmounta

forest labs will add a representative of carl icahn and says an independent member of its board avertinghareholder. >>> catamaran rising after signing a ten-year agreement with health insurer cigna, up a full 10.5%. >>> a wild trading day down here. now down 85 points on the dow. we were triple digits and headed positive, and now we're head lower again. also watching the live pictures from turkey as police have cleared out protesters that have been demonstrating in sometimes violent ways this last week. it's been going on for 12 days, and that has been affecting the markets and the currency markets specifically. we're back with an update for you when "power lunch" returns. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of the

carl icahn on twitter. c underscore icahn and the first tweet. like twitter almost as much as i like dell is his first tweet. >> we have mad dash coming up. ♪ it's friday ♪ i'm in love to generate income? with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. all business purchases. so you can capture your receipts, and manage them online with jot, the latest app from ink. so you can spend less time doing paperwork. and more time doing paperwork. ink from chase. so you can. luckily an emt gave me a bayer aspirin. i don't ever want to have another heart attack. i'm on a regimen of bayer aspirin. [ male announcer ] be sure to talk to your doctor bef

icahn imagine the people who own the show were saying they had to hand over $1 million. were they shaking your hand? >> they were happy for me. the stars had to align. the show has been on and 30 years of only happen and one other time and some anything's have been. congratulations and enjoy the many. don't blow it all on one spot. watch "money" to make it grow. up next don't let the pigeons will you they are a lot smarter than you think. stay right where you are you cannot have too much money. ♪ with opportunity, i'm thinking about china,. brazil, india. the world's a big place. i ishares international etfs. emerging markets ansingle countries. find out why ninout of ten large professial investors emechoose ishares ansfor their etfs.. ishares by blackrock. call 1-800-iares for a prospectus, which includes investment objectives, risks, charg and expenses. read and consideit carefly before investing. risk includes possible loss of principal. ♪ melissa: it is time for fun with spare change. thank you for joining us. check out these pigeons think all they do is gavin's? may

icahn or at least he hasn't detailed that to a special commit. really? >> remember the strongest performers of this quarter has been? amd and intel's been a performer and hewlett-packard has been the big dalledy. you asked me where would dell be? dell would be at 15 so you put 8 on it and it's down the road. $7 stuff. it's kind of interesting. >> we'll see what happens if they vote down this deal and it is worth the read, right. as long as you don't pick that fellow below meg whitman. >> that guy? >> you don't pick layo, you're okay. >> when we come back, ceos live and exclusively on "squawk on the street." we'll talk to kevin plank, the ceo of underarmour, as well as a mystery guest. believe me, you know the name we're talking about. we'll be right back. [ male announcer ] it's intuitive and customizable, just like a tablet. so easy to use, it won a best of ces award from cnet. and it comes inside this beautifully crafted carrying case. introducing the all-new 2014 chevrolet impala with the available mylink system. ♪ [ beeps ] ingeniously connec

just think you should own it because of the chairman of the company and because i have respect for icahnt, i think it's a good company and that's a wise choice. and he's one of the world's greatest investors. grade a usa, might gri usa, rock. dupont, ford, macys, and starbucks -- >> buy! >> stay with cramer. i want to make things more secure. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >>> you want depressing? you want to know the real problem the american economy? listen to the conference call hosted by paychecks, want excellent payroll processing company that reported this thursday. it's the gut puncher, it's a high quality company, payroll processer. there's an undercurrent that said we didn't deliver what you wanted because the

just think you should own it because of the chairman of the company and because i have respect for icahni think you should be in it, i think it's a good company and that's a wise choice. and he's one of the world's greatest investors. grade a usa, mighty usa, r-o-c-k. dupont, ford, macy's, and starbucks -- >> buy, buy, buy. >> stay with cramer. >>> you want depressing? you want to know the real problem the american economy? listen to the conference call hosted by paychecks, want excellent payroll processing company that reported this thursday. it's the gut puncher, it's a high quality company, payroll processer. there's an undercurrent that said we didn't deliver what you wanted because the country didn't deliver what we expected. while paychecks went out of their way not to blame the economy with the chief financial officer saying we're not using that as an excuse, he said to get the growth people are respecting in the payroll processing business, quote, you need a slightly different environment in terms of new business formation than what we have, end quote. because right now the natio

if a secondary could work, icahn can dribble it out.t to buy herbalife, i like to keep that thing going and carl says that's an opportunity, i think you ought to find out. >> what's the most important sector this week to watch, jim? financials? >> all bank. the banks started rolling over at the end of last week. i watched cd rates, they have come down. the same time banks are making a lot more money. we saw the commercial loans that i mentioned earl yes, the st. louis fed, at the same time there's an out and out belief this group must die on higher rates even though that is totally counterintuitive to what jamie dimon came out in that great speech he gave at the morgan stanley conference where he once normalized rates in order to make $2 billion more than people think you can. >> i did want to revisit something we reported here on friday. time warner cable shares are down a bit, after an enormous run-up friday, if you did not see it, we reported at the time that there was a meeting a few weeks ago but between great lakes mcfaye, ceo of

. >>> carl icahn has reported they have a short list of candidates to be the next ceo.battle against michael dell and partners. the list includes oracle president mark hurd. they've proposed a $24.4 billion buyout of the company. icahn and southeastern's offer would pay a $12 a share special dividend and let dell shareholders keep their holdings. >>> and in the telecom sector, stocks of japanese mobile carrier soft bank jumped nearly 10% after reports that the firm is in talks with deutsche telecom on acquiring a stake in t-mobile usa. we'll keep our eyes on that. >>> at the same time, the coo of orange has gone into custody in france. stefan richard and our very own stefan has the details. stefan? >> reporter: yes, richard is currently being questioned in paris as part of the corruption probe. he's being questioned not as the ceo of france telecom but as the former head of the cabinet of christine lagarde when she was finance minister. back in 2008, lagarde chose a prosecutor to settle a legal dispute between the controversial businessman bernard tapie. she decided to

under the icahn plan, 670 million shares outstanding after the tender.ion in operating, you divide by 60 million a huge earnings per share number. throw a low multiple i think this has a great deal of value. >> agree. i'm coming around to your view. >> not my view. >> to that view. >> a great division between a sme special committee than done work saying this is a good deal for shareholders, the best we could do, and icahn who says why aren't you levering up shareholders? letting us take the risk. an interesting diversion of opinions. iss will have an important role to play in this july 18th vote. they come coming back. they do it yet again with the latest plan. if it's 10 versus 8.15, it's a big difference. >> people feel they got too too cheap. western digital, people feel that too cheap. it's possible that it's worth a shot. >> we'll find out july 18th. going to be really interesting. we'll see a lot of back and forth. meeting with him today and icahn meets later today as well with iss. >> down 170 on the dow. i haven't found anything to tell the audi

george sore ross turned his fund into a family office, so did carl icahn and stanley drubmiller. now, family offices, they get a special exemption from dodd/frank. a lot of -- it means that family offices are not classified as investment advisers. they don't have the same disclosure requirement or rules. the argument is that family offices, they don't manage other people's money, but the definition of family and family offices is very broad, as long as you have a common ancestor, you're family. it includes formal spouses and spousal equivalents. employees can also invest along with certain trusts in charities. >>> they may have to take notice. >> robert, thank you very much. >>> sue, down to you. >> guys, let's talk about j.c. penney. let's look at where it's trading now. two companies back on the comeback trail. general motors replacing and ai giismt -- now separately the financial stability oversight counsel -- and subject to increased regulatory oversight. aig is off 0.6 of a percent, lu lu lemon up, the retailer astroand yoga pants are reappearing in stores on the flip side,

i myself am a recovering state bureaucrats icahn identified. paolo del vecchio is a genuine human being who operates an doesn't just talk the talk about what walk as we used to say in another decade or so ago or decades ago. so paolo del vecchio, welcome. [applause] >> good morning, everyone. i was stuck on the belt way out there in this horrible traffic this morning so it is great to have an opportunity to be here with you this morning. hi am pleased to be sharing the stage with director r. gil kerlikowske and appreciate it the partnership samsa has, working together, one of my roles in addition to being a vote director of the center for mental health services is leading samsa and support initiative and we have a wonderful partnership, supporting recovery oriented approaches for people with mental health and addiction issues. this includes supporting recovery oriented systems of care by states, tribes and local governments, recovery oriented systems, coordinated networks of services and supports that our strength based and recovery focus. for

it's owned 535% by carl icahn through his company ieh. the stock is roughly about $31 a share.lly will take them through next year in terms of revenue. they should do about 350 this year. so it's an 8.8 multiple 19% on book, the balance sheet is deleveraged. the net debt to equities only .25, and actually their operating margins have improved dramatically up 310 basis points in the first quarter year-over-year. so they're getting some synergies. right now oil tankers are much stronger than the regular, you know type of railway car. but they also have higher margins. for anybody following the shale plays, for example, a lot of the bakken you know is coming out by rail. so they sell it to people like excellon and if the stock is washed eded out because the backlog declined in the first quarter and the stock has not participated in the rally, to some degree bottom fishing, but it's a decent business only 1.7 times tangible book and it's a pretty good company for an 8.8 multiple. >> scott, thanks for coming on the show and sharing your thoughts with us. >> thank you very much for h

i think carl icahn is a tremendous benefit to the system but we -- not as smart as warren buffett bute him. invest in a well-run company where the management is fairly compensated, let them do the heavy lifting and prosper. we don't buy things with the idea of banging on the company. it took me -- i bought the stock in 2009. i started buying it at the end of the financial crisis at 2.50 a share. we made money. i tried to explain to the xp what my views were. i asked to meet to the lead director. they basically told me pound sand. i was on the board of adp, chairman of the audit company for almost ten years, there's no respected investor that would call up and ask to meet with a director of the company where we would deny that. i made it explicit when i asked to meet with a director, this would be export only. let me explain to them what my thinking is, why i'm unhappy. he doesn't have to say anything, just listen to my words. they said pound sand. wouldn't take a meeting. unheard of. you can get away with that when you have nonvoting stock. >> we'll see what happens. you filed suit in

and i think, okay, there's two people going crazy to load up dell with debt, michael dell and carl icahn do i want to -- the one place i want to be is meg whitman going up against a hobbled, not unlike "misery," james caan and stephen king, when you think about the new dell, and she going to be able to come in and eviscerate them or everybody is going to rip out their dell for hewlett-packard. she has a great balance sheet. >> a stock that's topical and timely today, oracle, like it, hate it, love it, loathe it? >> i like to own certain things i've screwed up. my charitable trust owned this and it blew out y.? because i have no conviction whatsoever that they know what they are doing and i believe others have superior product to them. i think they become the company that couldn't shoot straight in tech. they are this year's hack ard, okay? i think they can go down substantially from here. an announcement, they are teasing us, an announcement that's so supposed to be very positive but unless they have developed a car that can run on it, i want you to sell. if they have a car that runs on

karl icahn now proposing a $60 billion tender offer.ernative to the nearly 45 billion offer. reportedly sweet on wall street. better known as holding. it is workinggwith a public offering reporting to the offstreet journal. striking out with san jose california. the city is suing mlb over the new ballpprk. the san francisco giants also jumping to the park on territorial rights. that is the latest from the fox business network. giving you the power to prosper. ♪ tracy: the oil is up nearly 13%. one hundred dollar oil or crude right around the corner? our next guest says these prices are probably not sustainable.3 a lot of this has to do with the non-fundamental stuff that you call. >> serial produces very little oil. there are some other fundamentals. crude oil is up. that really makes it a little weaker and maybe the refineries do not buy as much because maybe it is not as profitable as it once was. there has been a loss of about, 400-$600 a day. it has not gotten a lot of publicity. in a market that is sort of tightly balanced, that is

icahn in some time and circled more or less say $5 billion in financing for dell recapitalization that are proposing, however going up in the financing as a look at the liquidity gap pointed out by dell last week, they have not heard from him. they are wondering if in fact he is going to follow through with the larger financing, perhaps, and i remember, i told you the interesting components of the refinancing is that the banks get 7.5% of the ups if there is in his own position. we will see. but it lays the idea, and thank you, that is the "post" story. >> he is a sycophant trying to raise the ad. >> well, carl, he has circled the $5.2 but is the number $7 billion or more to address the liquidity gap which is a $12 dividend instead of $9 dividend, because that is a different calculation. so if you are giving them $12 and a $1.65 option as opposed to $8.50, and you have a lot more riding. >> and yet $8.50 is a reasonable thing in the real world and you don't want to bankrupt the deal. >> well, this goes to the key point of friction, because if you are lever up the company for your own b

. >>> activist investor carl icahn is the latest to join twitter.st tweet was, twitter is great. i like it almost as much as i like dell. he is currently battling fellow billionaire michael dell for the pc-maker. that is the latest from the fox business network, giving you the power to prosper. tracy: the markets are focusing on ben bernanke's signals regarding future fed policy. the real story is that ben bernanke, really whoever replaces him as the chair of the federal reserve may not be able to afford any major policy change. fox business senior correspondent charlie gasparino is here with all that. >> i want to make it clear to the world they will not pick me. tracy: i was rooting for you. >> fox business network learned i'm not in the running. one of the promos looked like i was the guy. don't ask mae. i got two people, one person in the hallway and another person tweeted me or e-mailed me. tracy: really? >> in any event who will be the replacement for bernanke we'll get into the politics of this because i think it faces nating the way presiden

augustine's, she had exercised more rigor breaches said she can "do the work the boys are doing very icahnaid the greek, latin, i can study higher level studies. she successfully advocated for herself for there was some resistance at first. there was the notion that we educate the girls to become homemakers, to become maybe nurses, maybe teachers. she will not need this higher level of education is what the theory was. she resisted that. pushed against those thoughts and continued to grow intellectually. the local content vehicle travels to ignore it -- rally, -- travels to raleigh, north carolina this weekend you can check out at 5:00, the program from raleigh, north carolina and all of our programming is available on our website at .span.org/local content let's continue our conversation on the patriot act and later, fisa law. nathan sales is with us, good morning. about how the patriot act was implemented but take this back to 2001-2002 when you were in the justice department. we talked about how quickly this lobbying bill, six weeks after the events of september 11. from your standpoint

carl icahn is trying to block the dell deal, the sale to michael dell.you do, is michael dell paying too much or too little? >> so you know, i can't really comment on dell. listen, we are focused on having hp win serving our customers the best we know how and outwit our competitors. but i think i'll leave dell's situation and the commentary to them. >> one of the things you said is that when you came in you were amazed by what you found in the labs and the research and development. what is the one thing you were most astounded to find when you walked in? >> what was so interesting is despite all of the ceo turn and the drama at the top of this company, engineers, the scientists kept inventing. so they didn't know what to do with it all because they weren't sure what the direction of the company was. so i went around with some of my senior leadership team and we found some amazing things like store once, like moon shot, software define networking, next generation pcs so what we've got to do is commercialize this much faster. and back to your question how

. >> it is convenient for him, but -- >> but it's a nicer letter than you might get from a carl icahn going after a company -- >> and it's a nice letter that you'd get from dan loeb -- >> going after another country's company. >> if you're on the entertainment board, do you get to, like, meet all the movie stars when they make movies? >> i think after the show you should call dan -- >> but remember edgar who had all the money coming in from dupont, saying i'd rather meet the young actor -- >> you're suggesting that dan -- >> i've met him a few times. >> i don't think that's what this is. >> maturing -- >> it's a money deal. and by the way, he's already made a small fortune because sony really rocketed. he started buying the stuff two, three, four months ago before japan really hit it. >> so, he doesn't need to do that. he's got -- >> i think he will win anyway. >> you do? >> with this deal? i'm saying whether sony actually really transforms itself -- i mean, it's sort of the difference between hitting a double, a triple or a home run. that's sort of what he's up to. >> all right. just

navistar shares have been a wreck but with carl icahn along with the