the iger model, and by the way, staggs was very much in the iger model, was not to be the creative person but to effectively delegate. he was the anti-eisner in that sense. eisner wanted to be seen absthe new walt disney and didn't want to give up power which led to the extremely messy and tortured transits to iger. iger has been the opposite of eisner in that way. he's nod seem to be an egomaniac and willing to put people at where they are good and give them the rope to do it successfully and it's worked very well in their tenure. that's the model that staggs seems to fit and the fact that they turned away from him leaves me baffled what they might be lookingor. >> seems like there will be a good story that emerges why staggs left why there's only two years to wait for the ceo role. do you think the company lost confidence in staggs or iger signalled he might be up for staying beyond two years? >> i think that's a possibility. remember, he was going to step down i believe this year and then he extended it two years. i mean, maybe the board was pressuring him. he's a very youthful guy, ve

iger to stay.tributor, pulitzer prize winning author, "new york times" columnist so many other things, too. >> thank you very much. >> i remember "disney war" your great book. >> thank you. >> i read your column this morning, jim. knowing what a great reporter you are, i still feel like i don't understand what happened here. who was it who really pushed iger or the board to say we don't like him and why? >> well, the board and iger have not answered that question. whether privately they have done it, i assume they have. i've been told by everyone involved it was truly a joint decision. on the other hand, if you look at the disney board, there's no doubt that this is iger's board. about half of them have been on here a year or two none of them, it would be standing up and contradicting the ceo. >> he changed his opinion. >> he did. it's clear when he spoke to staggs, he said you do not have the board's full confidence and you do not have my full confidence. this is pretty brutal. as i point out toda

under bob iger.ou would expect that a ceo who has fundamental lir tranceryly twrans forred a company to this degree would have a number of successors, they pick somebody from the inside and they have more than one option. what does will this signal either about the board which you say is strong or about iger's style and how he handles the tier beneath him that they're needing to look outside for a ceo to potential run disney in the future? >> i think part of it is that they had selected staggs. and that pushed other candidates away. you have the guy who did frozen but alan is up there in years. you have pixar, two great in-vow vags lead innovation leaders of the world. but they're not the person. so i think staggs was so vow innovation leaders of the world. but they're not the person. so i think staggs was sovow innovation leaders of the world. but they're not the person. so i think staggs was so carefully positioned that that's why it's a surprise that the board wants to look outside. frankly, i'm q

and bob iger, these are going to be tough shoes to fill. bob iger has presided over a disney stock that has climbed. profits have gone way up. he's presided over acquisitions like marvel, brought back "star wars" into the franchise. the question s how much of an overhang is this going to be for the stock? we know that he's already beyond the time that he was supposed to be there, until 2018. >> so 2018. clearly it's a big story because he was the heir apparent, but they have a long time to find the next replacement. it's not like it's imminent. so they should be able to get through this. >> it is an uncertain -- it's at least uncertainty, which investors don't like. >> new details this morning into the drama at pimco. in a legal filing, the firm argues that gross' abusive conduct and effort to, quote, sabotage his colleagues he deemed disloyal, gave it good cause to fire him. gross sued pimco last october accusing executives of plotting o oust him from the firm he helped found. the money management firm says it has good reason not to pay gr

iger still is relatively young.s 65, which at one point was considered retirement age but he seems like a robust 65. he's said he's stepping down in two years in june, by then he'll be 67. maybe they'll add on a year or two more after that. they certainly have not said that that's their intention at this point. >> julia, thank you. disney shares down about 1.5%. >>> after the break, a rare and exclusive interview with the co-founder of twitter and blogging site medium, evan williams will be joining us. man 1: you're new. man 2: i am. woman: ex-military? man 2: four tours. woman: you worked with computers? man 2: that's classified, ma'am. man 1: but you're job was network security? man 2: that's classified, sir. woman: let's cut to the chase, here... man 1: what's you're assessment of our security? man 2: [ gasps ] porous. woman: porous? man 2: the old solutions aren't working. man 2: the world has changed. man 1: meaning? man 2: it's not just security. it's defense. it's not just security. it's defense. bae systems.

or is it iger? >> apparently. >> and iger is now extending the search. that's one of the reports. >> did iger want to stay longer? >> i'm not sure we know about that piece of it. i think iger supported staggs, however i think there were people on the board who were never comfortable with him. there were a number of missteps he made since he got into this job. the theme park thing. he's a very complicated guy. so there's a whole group of people there that apparently have not been thrilled. back to you, you're the professional. >> i was going to say, look, you said it in your opening remarks, that i think they might be concerned he's a finance guy. he was cfo for ten years. sure, he ran the parks. they wanted somebody with, as you said, maybe a little bit more vision, perhaps a better ability to navigate -- >> who qualifies for a role like that? it's pretty difficult if you have not spent time within the company. >> absolutely. that's the next question. well, if you don't want somebody like tom staggs, 26-year veteran, who then? so that's a big question ou

he will remain at disney, but bob iger.widely seen as eiger's successor. >> he was the cfo for a long time. he was being groomed for more than 10 years along with jay ruzulo.well -- with jay apparent, widely anticipated. the board and senior management of disney have had 10 plus years to look at tom staggs and his qualifications before naming him the coo. for the board to say maybe you are not the right person is surprising. >> disney likes to promote from within. would it be a big surprise if the successor to iger was an outside man or woman? >> the problem with disney is that bob iger ran a good succession plan. he identified two very strong able executives, grooming them over a long time to succeed him. that worked well and bob iger was getting points for that. it didn't work at the end. the company is now left with few internal candidates. they will look outside for an executive to come in. world, they would have loved to have taken one of their internal candidates. >> twitter making a push into online programming. the

staggs was particularly well positioned to take over for iger.e of the reasons why they gave that coo job was to make sure that he stayed at the company and was happy and still learning and growing in the next couple of years before iger leaves his spot in that role. i do think it's possible he didn't want to wait around. he has a great reputation as a manager. obviously across different parts of the disney business, i think it will be interesting to see what he does next. that announcement might give us insight into this. iger is certainly invested in the big things going on at disney right nouxt the shanghai park that launches in a couple of months and bringing these acquisitions to work, like lucas film which has been such a smart acquisition of his. >> what is it about disney ceo zr, they don't want to leave? >> iger has been there since 2005. >> very interesting. >> stock is down 1% after hours. it started a pretty measured decline when the news first came out but then the losses began escalating from there. meanwhile, minneapolis fed presid

it worked well and bob iger was getting a lot of points for that.he company is left with very few internal candidates. and of folks think they are going to look outside of the company for executives to come in. in a perfect world, they would've loved to take one of their internal candidates. >> twitter making a strategic push and to online programming . the social networking company will stream 10 thursday night nfl games. who wen wins here? >> the fans. it is purely green. the nfl is looking through the windshield and not the rearview mere. if you think about it, this device looks like a small football field. they are taking chances and being entrepreneurial. if you look at the 50th anniversary of the super bowl right here in the silicon valley, our nanosecond attention span is perfect for this little device. is it a win for twitter? emily: and also a great win for twitter. andy: yes, and allows them to get in the game with the most powerful broadcasting entities in existence today. the nfl is pricing the value of what these rights are. this is a n

and yeah, bob iger will be here for another two years. people love bob iger. part of the problem here, this is almost like trying to replace john wooden. whoever comes in is probably going to be perceived unfavorably. >> you have a market perform. what if bob iger now says you know what, i will stay around until 2020, couple more years? is that enough of a needle mover for you? >> i think it would reassure the investment community in the near term you are going to have a steady hand. it does sort of beg the question of what's the succession plan. it gives you a few more years to potentially develop people internally. but you know, the day is still coming when he'll have to step down. >> appreciate the time today very much. doug, thanks. >> thank you. >> jimmy herick won a title with ucla, right? >> yes. >> what about the concept that possibly this board knows exactly what they want? they want someone on the media side, someone outside of the company? maybe they did not want tom. maybe that's the reality. >> clearly they didn't. >> first time since 1984 michael

and steve wynn making comments about china in a private conversation he had with disney's ceo bob iger hear from him after the break. much more "fast money" ahead. >>> allergen has always been a growth company and the companies you mention. some are growth oriented and others are not. everything that is a growth oriented business with strong fundamental businesses and a good r & d pipeline to sustain that growth is of interest to us. >> a question of whether the company would go shopping for the likes of celgene and valeant now that its deal with phizer is off the table. we thought we'd plate allergen dating game. contestant number one, peter najarian, he just prefers long walks in the option pit. bachelor number two, brian kelly loves mass chaos, financial destruction and bitcoin and he just cashed out of his 401(k) so, ladies, dinner is on him and bachelor number three is founder of riskreversal.com and dan nathan knows how to straddle a trade and our fourth bachelor is guy adam, many ladies call him the godfather because he's known to make an offer you can't refuse. pete, kick it of

bob iger has done a spectacular job. you couldn't ask for any more. announced he was retiring about three years ago, that he was going out at 16, it was -- it seemed like i've done everything i can do and want to do something else. it's -- there has to be something about bob wanting to stay in here and but the other hand, i don't know he has a remarkably positive report. everybody thinks this guy is senational. he'll have no trouble getting a job. i see that they've already entered an agreement that he's not leaving until the fall. >> he'll be an adviser. >> right. we'll have to find out. there's a mystery here. >> the discussion has been around staggs laki lacking the creative quo tent and his background is in strategic planning and iger was in running abc. what do you think it is about running a tv network that is inherently more creative than coming from where tom staggs came from? >> i think he hasn't had that experience, there's nothing to say that he couldn't do a very good job doing that but 12 years as the cfo. that's a crushing job at disney.

>> i think this is a setback for bob iger.ue that the crowning achievement in bob iger's role was that did orchestrate a successful succession plan. he identified the person the board and the management team and investors were comfortable with in tom staggs and put him in a position to replace bob. now that has been kind of put off guard. so, now question is what does he do? do they go outside the company or within the company? tom: the board has only done that. come on. this is not a disney movie, this is disney. they have already got three names lined up. probably somebody that wall street would be intrigued about would be sheryl sandberg. vonnie: i was going say with jack dorsey having two jobs. leaders proven to be a at facebook. to the extent that disney needs to make a giant step into the age over the next 10 years, maybe sheryl sandberg is someone that can do that. outside of the company, there are a lot of media executives. peter -- is out there. a news corporation executive, spent a long time under rupert murdoch. doi

>> he did manage to get some fresh breath into poor bob iger at a scary moment. think he's played some critical roles throughout this career in disney beyond saving bob iger's life. but in terms of the next stage of life for disney, it became pretty apparent he wasn't the right guy for the spot. i think this is a board operating at its absolute best. easiest thing to do would have to stay on a conveyor belt and put on -- would have done a fine job in a much more sort of custodial role, not creative. >> you said obviously not the right guy for the job. i understand that thomas staggs, the professional, you don't want to slam him, you don't want to say here is where he was lacking, but do you believe disney should at least provide investors -- it is one of the most widely owned stocks of the world, provide investors with more insight into exactly why they decided he was not the ceo? should they say we don't think he has the operational or creative capacity or whatever it might be? >> i think there is no reason to disparage him. he's been a great guy. very strong cf

board put shareholders in a position of having to pray every night that nothing bad happens to bob iger0 billion company doesn't have a succession plan. even sumner redstone has succession plans. it's depending on one guy for all the senior management here. >> well those are strong words. are you suggesting that the stock is uninvestable in this current environment? >> the risk on the stock just went up because you better pray nothing happens to bob iger. >> all right. >> guys. >> well i'd say one of the succession plans potentially here, not at disney but at viacom and mr. red stone is probably this mr. staggs. somebody in this industry is going to pick this guy up, judge. so he's taking a one month, basically a month from now less than that he's gone from disney so unless something happens between now and then he's going to be gone on the market and he won't be on the market for long is my prediction. >> i think we could say that story about any ceo that's larger than life like iger. he has done a phenomenal job. the risk is racheted up if the ceo leaves. >> but you have to have someb

disney's bob iger is a magician. he will make the stock levitate. they just blew out another record this weekend with the jungle book remake. i like the iger money flow. this makes it pretty positive on the company, not just the stock. you're seeing hasbro merchandise flying off the shelves. how about the daily chart of cbs. different picture compared to what we saw with disney. disney spent the last couple months basing, cbc bottomed in february and then took off in a rocket. since then the stock has been taking a breather and building a base at a higher level. it's a sign that it has more room to run. like a rocket and then base. think of this as the pause that refre refreshes. the shaken money flow is still pretty positive here. i wasn't as sure as he was. the big boys like cbs just fine. a little more sideways action. here they start rallying toward new highs. i believe in the leadership of less moonves. i think the stock is still too cheap even after this much what about time warner? interesting interactive daily chart here. time warner had a p

does bob iger get any credit for that? no. so i am trying to step back from the personal and say that i think disney stock is a buy. >> there was an upgrade of disney similar reasoning to your own actually. >> i just think that they're -- >> the stock is up. probably on the box office from "the jungle book." and theme parks doing well. of course shanghai disney. you did have that very much unexpected change at the top with mr. stags leaving the company. >> don't really know what that was about. but i remember the days when we used to look at abc ratings every day and said, wow, abc sells disney. if you look back on that that was not a very smart strategy. >> it was not a tell, but espn i would argue is a bit more important than abc. def -- >> the espn, jhk, yes, all of them. it's still extraordinarily important. we are going to be focused on those numbers. >> i can't get us to maybe mitigate that focus by looking at the movie schedule. >> no, i think they proved they are extraordinarily capable of creating hit after hit after

how about disney, some succession problems for ceo bob iger.e guy i think is probably the best ceo in america today. his retirement likely delayed for the fourth time. liz, what happened here? >> well, basically, it was a surprise. the chief operating officer, he was heir apparent and now he's not going to be the heir apartment at a times that disney is seeing struggling and cutting. stuart: that's the guy? he stepped aside. do we know why he walked away? >> we don't know why he walked away. the thing that iger's contract lasts through 2018 and stepped in the past when there has not been an heir apparent. we don't know whether he reupped, but disney will handle it again. stuart: he's one ceo, and disney firing on all cylinders has gone straight up. when he took over, i seem to remember disney 20, $30 a share, don't quote me, i think that's where it was, and now 110. >> you've got to be careful because look where we're going with disney. the global economy, the theme parks, the backlash against the theme parks and they've got the "star wars" fra

he was to remain at disney, but the special advisor to bob iger.ly seen as his successor, so what happened? >> he was the cfo for a long was being groomed for a long time. risulo left when tom skaggs became coo. they have had 10 + years to look at tom stagg said his qualifications before naming him coo. for the board to say you are not the right person is very surprising. >> usually disney like to promote from within. michael eisner breaks that rule. was there a big surprise if the successor to igor was an outside manner women? -- man or woman? igor actually ran a very good signal selection plan -- good succession plan. grooming them over a long evening of time to succeed him. bob iger was getting a lot of points for that correctly so. it did not work out here in the end. the company is left with very few internal candidates. they will look outside of the company for new executives to come in. in the peripheral, they would have loved to take an internal candidate. >> twitter making a strategic push into online programming. the social networking com

bob iger is known for this.ppreciating that in a way that may have brought steve jobs and pixar into the family. >> well they don't have problems any time soon on that front. >> there's lite of runway there. it's good to see you as always. >> meanwhile the markets have given up wednesday's rally and then some. the dow is down 173 points. major averages down for their third day in four. the s&p is down by 1%. the nasdaq by 1.3%. apple shares falling after btig cut it's price target and it's earnings estimates. the firm no longer expects apple to return to revenue growth this fiscal year. that's a bold call and taking the stock down by 1.5%. mean tile wynn shares upgraded to out perform. they have confidence they'll achieve at least the bottom end of the earnings forecast. stock up 10% on at least the bottom end. >> amazing story. when we come back, credit suisse starting a $40 million venture to catch and help with traders breaking the law. plus the latest on the eu investigation into alphabet. more of our exclus

he was widely expected to be the company's next ceo following bob iger's retirement. he'll remain a special adviser through disney's fiscal year. he's reportedly leaving the company, as he didn't receive board assurance that he would be succeeding the current ceo. >>> tesla has reported lower than expected first quarter sales, citing shortages from its suppliers. the electric automaker delivered close to 15,000 cars, falling short of expectations for 16,000 vehicles. tesla blamed manufacturing troubles on hubris over the model x. however, the company reaffirmed its full-year delivery guidance of up to 90,000 cars. >>> looking at the u.s. futures and how we're setting ourselves up for trade, we are 4 1/2 hours away from the u.s. market open, and we're being called quite a bit lower. the implied open on the right-hand side of your screen turning a bit more negative within the laths half hour or so. dow jones now off 124 points as opposed to the positive start we saw yesterday. and the best strategy in the stock market this year has been to act like a cockroach. this is

iger unexpectedly stepped down. he plans to retire in june of 2018. >>> alaska airlines is paying $2.6 billion to buy california-based virgin air. analysts say the further consolidation of the airline business will mean even fewer bargain fares and limited travel options for passengers. >>> the estimated 20 billion dollar settlement over bp's massive gulf of mexico oil spill was ginn final approval by a federal judge. the explosion on the deepwater horizon killed workers and allowed millions to spill into the gulf. they call the largest settlement in u.s. history. >>> rwanda, one of the world's first country to have a commercial drone network. the california-based zip line will plan to have a service in july. they'll cover half of the country ferrying pharmaceuticals and blood to locations in hours instead of weeks or months. >> it would surprise me but it totally makes sense, getting to areas where transportation routes could not always be avail snoobl it could be game-changer. >> yeah. >>> still ahead, ivy league

thomas staggs, some considered to be bob iger's heir apparent is not so what happens now? up at succession time but he is out. what is going on there? dagen is with us. connell mcshane. connell what is going on here? >> i don't know but it is interesting because the timing is coming after business is obviously changing. used to talk about disney, no matter what goes wrong they still have espn and all the revenue coming in from espn. all of a sudden different landscape people are talking about, as we will, streaming football games and live supports is -- [laughter], not exactly the automatic cash cow that they were. so in a changing business, you know, just making assumptions here, maybe tom staggs is not the person to handle the next phase of the business. neil: for months now, actually years, he's been reportedly groomed for this. >> he has worked there 26 years. neil: theme park part of the business, right? wasn't film, studio part? >> some discussion, bob iger that he came out of, michael eisner, before him, came out of creative side of it that he has been, tom staggs,

so i'll be surprise federal she moves on, burks boy, if i were bob iger i'd be, you know, i'd move to the bay area until the deal was done. i don't know if it happens. >> okay. >> i would suspect the most likely thing is that iger stays there a little longer. >> roger, thanks for joining us, roger mcnameyy. let's -- you know, in talking about somebody who would have to move -- i don't think i would have brought it up if we were talking about a man. >> right. >> although her being widowed does make a difference. >> she was more on the facebook side than on the disney side. >> i have no idea, but it -- i wonder what's down the road. i've got to imagine politics, much talked about. i think she would be fantastic. does she want to have one other big chapter where she's the ceo? >> oh, yeah. >> you know, she's a relatively young ten, 12 years and then politics. that would be interesting. >> still ahead, president obama and the treasury department taking steps to close the tax loopholes that many u.s. companies use to their advantage, but could this be bad for the market? more "fast money"

reporter: all of the truck met federal safety standards but the insurance institute's tests are more igerous. iihs has looked at large extended cab pickups pickups and siewld small overlap front end crashes. the test simulates part of the trick hitting a pole at 40 miles per hour. the insurance institute says those types of accidents account for about a quarter of driver the lowest safety score, the dodge ram. test video shows parts of the truck collapsing into the driver's seat. >> there's likelihood of being entrapped in the vehicle, serious likelihood of injuries to lower extremities. >> reporter: two g.m. pickups, the silverado and the sear double cab anded justin trudeau double cab all scored acceptable. automakers' todd lassa. >> these tests are important because they are going to be pushing automakers to meet tougher safety standards and create the ability to survive a crash, a hard crash, in a number of different situations. >> reporter: the f-150 was the only large pickup to earn top safety pick status but only with optional crash-avoidance technology. scott, dodge says it designs i

. >> it's interesting, you know, you wonder -- it sounds familiar to what bob iger said back in august about some. things that he was obviously completely different business, but the landscape changed very quickly. you're saying that maybe the landscape is changing. i will say this. i agree with what tim is saying. i don't think you can say seagate juniper, tech is a wreck. ibm on monday and intel on tuesday. if those things start to fail then you can start connecting the dots as b.k. said. >> we're about 2.5% off the all-time highs on the s&p and the cows. gone through a week where financials came out as the best performing sector this week even though earnings were not in any way spotless, problems with every single earnings report that came out so does this set us up poorly in a way? >> think about what we have to deal with, this weekend. doha and imf world bank meetings, impeachment vote in brazil, rumors of a china policy statement that supported chinese shares this week despite the fact that data was bert out of china. yeah, it's not crazy to think markets could be pulling back n

bob iger says it is the biggest opportunity since they bought land in florida.be quiterce different from the disney parks in the united states. rachel: this is a huge issue. they have been trying to open the spark for 20 years. the chinese culture is very different from what they are used to. it is a binary vibrant workforce. the turnovers 30 to 40%. disney is coming in as the first international mover but the next five years there will be five mega parks operating around shanghai. rishaad: not sure what to do with that loose change? this is an israeli startup that may have a position for you. we are back in two minutes. ♪ haidi: people were killed when an unauthorized fireworks display went wrong. a stockpile of fireworks exploded causing the explosion that destroyed several buildings. taiwan has accused china of abducting eight of its citizens from kenya in what could be the first diplomatic test for the incoming president. 37 chinese speaking people were acquitted of activities and can yet but were ordered to leave the country. they forced him onto a plane bo

he will have the role of special advisor to bob iger. so, exactly what happened?oining us now is paul sweeney, head of research for north america. this man has been groomed for nearly one decade to become the ceo. >> this is a surprise to disney investors. certainly, everybody in hollywood. tom was the cfo for a long time. he was being groomed for more than 10 years along with another executive. resume low left. i got the odd -- the deal to the uco. for the board to come back to say he's never a person is not surprising. >> there are some ports coming have -- you may not possess all the skills needed, and therefore, they were not willing to really bless them as the heir apparent. maybe, they would look outside of disney for some other options. >> i think the problem with that he actually ran a good secession plan. he identified to very strong able executives. groomed them over a long time to succeed him. it didn't work out here in the end. now, the company left with very few internal candidates. a lot of people think they will look outside the company. perfect wor

has had buying and creating media assets across multiple platforms. >> i remember pixar giving igerard time about it and that deal paid off so quickly. >> you were relentless about that. >> i was questioning because the multiple was very high and that has been nothing but money. >> chris meladandri is essentially going to bes mignon guy. that dovetailing is huge. >> what do you say about that? mr. walenda. he walks a tightrope. >> you want to see me fall? is that what you're looking for? you don't want to not see me here in the morning. >> every day one new person joins twitter. maybe two. through there's three new people on board on twitter right now. >> right now a billion people are watching facebook. >> facebook picked up a million people during our show. twitter lost three. >> what are you going to do on "mad money" tonight? >> i don't even know. will you give us a break? i'm focused on this show. domin dominos, communication is not keep. >> texans -- >> i love the texan quarter. they have four parts in napa phone, four parts in this. they managed to just get away from being ca

trade to thomas sachs is leaving the job made six as many wonder how that will affect what bob iger does. with no successor in place, the question is whether he will stay on past its intended retirement date of 2018. unless someone is hired to come the devil a lot of time to prepare to take over unless he postponed his own planned retirement. prepare for more battery life on your kindle. amazon to release a new candle with a rechargeable case. the cover will provide more battery life while also allowing the reader to be thinner than earlier devices. that is not all. amazon has a separate case under development that would charge the kindle using solar power. amazon ceo promised to reveal the details next week. we don't know the prices of new devices just yet. right now amazon's kindle voyages their most expensive model in just about 200 bucks. pretty affordable. nicole: a look at the headlines in today's edition of "the wall street journal." in: if it starts to sound the largest pension fund. they would value the business at about $6 billion. activists briefed À la garden bounty. the comp

he was being groomed to succeed bob iger as the chairman and ceo of the company.aving creates some uncertainty about the succession plan and could mean that an outsider will run the company, sinceuld be the first 1984. i wanted to bring in headlines that are just crushing. -- crossing. aware of the treasury guidance and will take time to go over that guidance. if you want to take a quick look at our bloomberg, the shares were falling and coming back a little bit following these headlines. but there is this revolt effect in the market from these treasury guidelines, and any company that has a pending international deal is being scrutinized by investors and in many cases being punished. we will get two more members later. back to you. next on bloomberg markets we will talk to the lawyers behind panama papers. ♪ thank you. ordering chinese food is a very predictable experience. i order b14. i get b14. no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it?

was widely seen as the air to whoset ceo bob iger contract runs until june of 2018.-- shares fell. -- the company missed its sales estimates. it shipped fewer than 15,000 vehicles last quarter. tesla says because that was mainly because of part shortages. adding too much technology to the suv. the company reaffirmed plans to deliver 80,000 to 90,000 vehicles later this year. guy: thank you indeed. the brick to debate is euros biggest threat -- the brexit debate is euro's bigs threat. let's get to munich and speak to the banks economist. thank you for taking the time. walk us through the trade. where do you see the levels? where do you see the single currency going? guest: i did not hear you. guy: talk us through we see the single currency going given the political headwinds we see facing the brexit. guest: there is a lot of political risk priced into the euro. the markets are pretty calm. in our view, this should change by june. with the brexit in the end, which is pretty like it could happen with a 50-50 chance. the whole european project could be questioned again a

, reportedly decided to quit found out iger board did to broad 10 search iger is 65 plans to retire in going to leave you with this -- breakfast tiek mcdonald's is unleashing the godzilla of burgers in japan -- am i -- good lord the giga max burger all same ingredients as big mac but 2.8 times amount of meat four patties instead of a two the patties in japan thicker wider mcdonald's is promoting this by saying when you eat it you achieve a quote satisfied sense of accomplishment. and -- stomach acre. >> calories do you think that is. >> 2500. >> what do you think. >> 5,000. >> i go with 5,000. >> -- i am going with -- i know several pounds. >> newburgher yankee stadium you talked about last week. >> i never tried any of this stuff, by the way, bernie sanders momentum as reporters head to polls in wisconsin he says hill should feel nervous not him, villanova ncaa champs streamed in virtual reality one professional team owner plans to change the sports viewing experience for all of us as he tries to attract millennials about washington wizards owner joins us back in a minute. ♪ [ male an

it's the same question as to who is going to replace iger. so that's a dynamic in play.the air pocket are we guards to the negotiations and do they command the money that they're getting and should they carry them all? it could be a major surprise on the upside. >> so you suggested the last time you were here. >> i don't remember that but that's okay. >> you suggested that you thought in your mind that he had a year to try to turn things around. >> since then you resolved the issue with the background noise. you have the company anointed to be the ceo and chairman. the moving ahead and they got to do something and will do something with pair mount and get to the digital age with regards to their content so you can't get past fundamentals. you're talk about tesla and viacom. that's $16 billion and $4 billion and you have a limping dynamic with regards to content and distribution. they're working on it. >> some people can't get beyond him himself. there's a story in the wall street journal today that talks about his pay package last year. he's the highest paid ceo, total s

. >> market focusing too much on espn, too much on succession with iger and not enough on the studio which has, as we said, been churning out -- >> i think in august when this whole thing started -- >> he didn't expect this tidal wave of negativity that followed, right? >> that's what started it rolling. i think it's equally important now. and to jim's point and your point, it does trade at a premium valuation. i think they are getting the benefit of the doubt from the other businesses. i'll be interested to see what they say. >> a seller? >> honestly, if you've enjoyed the ride like steve has, i think you absolutely sell right now. >> i think the branded content strategy makes the most sense. the irony is the content is what gives them the premium multiple, not the cable business. so actually, if anything, this is the reason you should be buying disney, not selling it on espn. i think again, this feeds through to the consumer products, it feeds through to theme parks. it's their entire model built off of this. this is why you own disney. the cash cow that's been the cable and espn b

>>iger 21 peer-to-peer learning network wherere theheyt together for invnvesent ideas and philanthropyh other. liz:these people comprise $4billion in assets. these are uber wealtlthy who get togeththern tiger r 21, they tak about the next big thin.n. they s say rich are fferent. i would love too know how the wealthy are invevestg. whatat a t they looking at at ts moment? >>ew news s fothe first time ever our membe arere investing higherer re in private equity than public equity. private e eqty for the firstst time eclipsed public equity. the bibig private equity investment has increased dramicically over the past few years. in 2010 private equityty investment was 9 9%. today it is at 23%. that is really big n news this s prettyty dmatic shift where our investorors members are taking a t of money out of fixed incomeme a putting it into private equiuity primarily becae that is the space they know.w. theyey're investing in businesss they understand.d. liz:z: for the little guy or retail investor who cacan't giva huge chunk of money toto private equity outfit,t, kkr is pupublicly-traded, b

had problems convincing some disney board members he was the right person to succeed bob iger.esla grabs the spotlight for taking deposits on 276,000 of it's new model. but when it came to delivering vehicles, the company has come up short, selling less than 15,000 cars in the first quarter. tesla blames apart shortage. now.han: to frankfurt tensions between the imf and the greek government have been growing. today, christine lagarde indicated a growing level of flexibility with greece. in an interview with francine lacqua, lagarde said they want to help the company regain -- the country regain stability. madame lagarde: we continue to be focused on addressing the greek situation by negotiating in good faith with a two fold objective. one is to restore the financial stability of the country and to give it debt sustainability. number two, to equip that economy with the competitiveness, the productivity, the structural reforms that are needed for it to be independent. the objectives have not changed. the negotiations will continue. i have a team on the ground at the moment. we wi

i'm focused on the day to day igerations right now andions r that's what i'm focusing on.us >> reporter: so my follow-up fl- question to the general manager was do you have enoughh money as it stands to make the changes that you want and hee says that is what he is tryingg to do.to do. he's trying to work with the t budget that he has. h he's going to leave theve the additional funding for jack forj evans to fight for but he saysay under his current budget he's bs going to do the best that he can do. live at rosslyn station mattro >> matt thanks very much.thanks >>> a maryland state trooperroor is hospitalized tonight after a major accident on theen capital beltway.l btw >> the beltway has justtway j reopened between route 450 and d the bw parkway but there is thee still a traffic mess out therese for drivers. fox5's paul wagner is live i liv right now with the latest onatt that story. paul, what can you tell us? >> reporter: well, i'm looking at the beltway now. what you just said surprises me because i don't see traffic i moving on the outer loop right d now, so itou appears to me tha

in this case, ripa's complaints are about abc chief ben sherwood and bob iger on the right. the days she skipped work, she carried a bag while leaving her home. look at the book. knowing the photographers were waiting outside. the cover of the book is "david and goliath." not even subtle, right? pretty smart pr move. joining me is the chief creative officer at the hollywood reporter and billboard media group. thanks for being here. >> thanks for having me. >> do abc executives now accept they mishandled this? >> they know this was bungled. completely bungled. you know how disney loves clean, smooth transitions. this is basically the worst possible outcome that could have happened. what we have learned is that they let strahan drive a lot of the decision on how this would be communicated. there were concerns it would leak in advance of the announcement, through possibly kelly ripa and her camp because they wouldn't have been happy. so they let strahan be the one. it was decided strahan would be the one to tell kelly ripa, but then news leaked out early that he didn't tell her

. >> bob iger from disney is smiling. i did take some photos. take a look at the wedding.om "people" magazine just after they said i do. that's tommy's sister who officiated the ceremony. then the couple walked down the aisle as it would be at this resort in homestead, florida. this photo i took as they were walking. >> quite the photographer you are. >> i try. could have a job. >> yea. >> this is our abc crew. everybody there. ma that produced it. let's all just be excited. after a couple of drinks that was easy. alex perez was there, martha raddatz, sam champion and cecelia on the left. >> look like a great time. cecelia on the left. >> look like a great time. . i even got to class. finally, i discovered the new tide and downy odor defense collection. tide gets out the yoga-aroma, while downy keeps them fresh all day. now, i don't smell like wet dog... i smell good. don't just mask odors. eliminate them with new tide and downy odor defense collection. introducing new k-y for massage and intimacy. every touch, gently intensified. a little touch is all it takes. k-y touch.

n unless you were there in that particular where you know that woman, that touring iger or the relationshipcult to speculate. >> our thoughts and prayers are with her family. dave salmoni, thank you. we'll be right back. see me. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop until i find what works. discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75% skin clearance at 3 months. while the majority saw 90% clearance. do not use if you are allergic to cosentyx. before starting, you should be tested for tuberculosis. an increased risk of infections and lowered ability to fight them may occur... ...tell your doctor if you have an infection or symptoms... ...such as fever, sweats, chills, muscle aches or cough. or if you have received a vaccine or plan to. if you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. serious allergic reactions may occur. see

bob iger has done a magnificent job. we all agree with that. >> why not focus more on the studio?there are focuses and they have done a really nice job at disney. if you listen to what skipper has to say, who runs espn, you understand all of this has been way overblown. that part's ridiculous. when you look at the succession plan, that was in place, that's the one question mark that's out there. i think that's still further out into the future. but i think that is, if there's one weight on the stock right now for me that's what it would be. >> i think the lows are in from february down, somewhere 89ish. i think that will hold. i think the stock needs a catalyst. i kind of lean towards what pete is talking about, let's get some clarity on the management side. for you, i just, you seem a little bearish on the overall economy. do you think disney can overcome an environment where there's an economic contraction? >> it' vsy good point. i think really what i'm focusing on is historically, this stock has traded in the low 20s as far as a multiple so seeing it at this 18 seems attractive

effective may 6th, he will remain employed by disney aspects advisor to the ceo who is of course bog iger through this fiscal year, with about two years left before eiger steps down, disney board will broaden scope of the progress. david: predicting a massive recession, why donald trump claims he is the economy's only hope. >> it is going to be a mess. you can not continue to lose the kind of billions and billions of dollars on every single thing we do. there are two billion people who don't have access to basic banking, but that is changing. at temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations with nothing but a phone and a tablet. everywhere where there's a phone, you have a bank. now a person is able to start a business, and employ somebody for the first time. the microsoft cloud helped us to bring banking to ten million people in just two years. it's transforming our world. put under a microscope, we can see all the bacteria that still exists. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing ba

you see iger maybe staying? >> i think he should stay.ness, he's been the best deal for the company in decades. plus he's young enough. he's powerful. some of the very best media hipds on the board. so they could pull from the board. >> all right, folk, back with more from iconic later today. >>> hello. i'm sue herera. here is your cnbc news update. it is the first casualty from the "panama papers." ice land's prime minister has resigned amid the controversy over the his wife's offshore holdings. he arrived in parliament earlier today where he was facing a no confidence vote. meantime, a spokesman for british prime minister david cameron says the cameron family does not benefit from any offshore funds. however he did not answer a question on whether he or his family had benefited from offshore investments set up by his father. his father was named in the "panama papers" release. >>> paypal is canceling plans in similar hot after lawmakers passed a law that restricts protections for members of the lgbt community. last month north carolina'