i think you bring in a guy like jack welch who looks at both sides aisle. >> what about you? >> neal, america deserves better. jack welch would be better. >> dick grasso always a pleasure. >> i love you. >> first snap shot of the market will come before the stock market begins to trade. it begins with the futures market and trade and things like the chicago mercan tile. my next guy runs that place. terry, what are you bracing for? >> well, you know, neal, i am not sure. this came fast and furious and it will be a interesting session starting tomorrow evening with the asian markets and the futures markets starting here in the united states and we'll get a bits of a sense of how things are going to be on monday. it is hard to predict. >> we know that fast and dangerous times. it is just the number of people and number -- are you prepared for what could be a record onslaught. i don't know whether to buy or sale or both sides in >> we are, neal. we have done record volume. the cme group, and most global institution and people on the ground who have our systems in over a hundred c

jack welch, the former ceo of general electric.now, the argument that companies should be run in the shareholders' interest may have made, actually, more sense in the old days when companies were basically owned by a small number of people if not a single individual. but today in the system where all these companies have limited liabilities and have dispersed ownership, ie owned by hundreds of thousands if not millions of people, in this system despite being the legal owners most shareholders are actually the least committed to the long-term future of the company because they are free to leave, yeah? in cons -- contrast, other stakeholders in the company like the employees, the suppliers, the local community, they cannot leave the company -- i mean, not in the literal sense because, i mean, people like suppliers do not literally belong to the company. but they cannot leave the company in the metaphorical sense that easily, huh? you have been supplying, i don't know, toyota, suddenly you want to switch to, i don't know, nissan or fo

i think you bring in a guy like jack welch who looks at both sides aisle. >> what about you? >> neal, america deserves better. jack welch would be better. >> dick grasso always a pleasure. >> i love you. >> first snap shot of the market will come before the stock market begins to trade. it begins with the futures market and trade and things like the chicago mercan tile. my next guy runs that place. terry, what are you bracing for? >> well, you know, neal, i am not sure. this came fast and furious and it will be a interesting session starting tomorrow evening with the asian markets and the futures markets starting here in the united states and we'll get a bits of a sense of how things are going to be on monday. it is hard to predict. >> we know that fast and dangerous times. it is just the number of people and number -- are you prepared for what could be a record onslaught. i don't know whether to buy or sale or both sides in >> we are, neal. we have done record volume. the cme group, and most global institution and people on the ground who have our systems in over a hundred c

. >> jack welch, as always, right on the money. thank you indeed for your time. >> thanks, piers. very nice talking to you. good luck. >> good luck to you with the storm. i'm fine. i want to bring in a man who knows steve jobs better than anybody else, steve wozniak met jobs when they were teenagers. they went on to co-found apple. he joins me now. welcome. >> thang. you know what, it's a fun part of life to have a nickname like that. i don't know steve jobs the closest of anyone in life right now. i've known him in the past. i admire him. and we have a friendly relationship. >> but i mean, i suppose what i meant by that, in your earlier days. >> i have insights from early days, yeah. >> you were in his parents' garage. >> kids in high school playing pranks, you bet. >> what was he like in those days? >> you know what, he was always interested in every technical electronic gadget there was in the world. you know, but he didn't -- he didn't exactly have the focus to actually sit down and design and build them himself. but he built projects that like counted the number of cycles on

i think he's been called that by jack welch and other ceos who previously had that title. i think that that would not be an overstatement. >> seeing after-hours trading, 5% down and falling pretty rapidly, would you expect tomorrow, when there are bigger volumes at stake, that this will continue as a pattern? there will be kickback. >> i think earlier this winter he came and said he was taking medical leave, the stock took an instant hit. and also, let's not forget how volatile the stock has been lately. the market in general has been lately. we expect a reaction. but that said, again, i think that the market is prepared -- the market has gotten to know tim cook, gotten comfortable with tim cook, by that i mean, investors. this is not entirely a huge surprise. i mean, i think the timing of it is a surprise. but there's never been a question as to who is going to succeed steve jobs when he ultimately stands aside, which we've known is a very likely scenario, just because of his health concerns. >> also, tim cook has been there since the turn of the century. and stock has ri

why hasn't someone called jack welch, steve jobs, boeing, come to washington.or three, four, five days. somewhere in this country, there is is next new idea. there's the next great thing that is going to happen. let's find it before we trip over it. >> one of the listens why you can't have today because he -- one of the biggest problems is america has had a historical way to deal with shifts in unemployment. people moved. there was flexibility. what is broken now, you have a population coming up now which can't just move. >> you know, actually, there is a big problem right now. my dad, we didn't make a lot of money. we were very middle class. my dad would always, every friday night sit there with a spread sheet in the 20s. 23,000. every friday night, he had a spread sheet out and figured out how he was going to spend $20 here and $20 there. he was unemployed for months. now imagine you get caught up in the fever of the past five years. >> credit card debt. house. >> by the way, my dad, his entire life, they were born in the middle of the great depression, their