i'm a big fan of jack welch. been very kind in recognizing we can't keep going with failed business mottle. -- business model. people have been looking for someone who will do what he said he would do, and it's very meaningful -- jack welch may be the most respected former ceo and he recognizes you don't keep pouring money into a business model -- >> he put me on the air so that doesn't mean d. >> for that we can thank him. >> let me get your final sense of where this race goes. you have a lot of money. you do have a lot of passion and support. but i do want to get this motion of iowa, new hampshire, south carolina do you have to win one of those three outright? >> well, listen, if you look historically since world war ii, no one has ever won the nomination without winning at least one of those first three. that has certainly been history. i think it's an interesting challenge for a number of other candidates. you look at the media describes for example, jeb bush frequently as the front runner. an interest questi

jack welch love the finance business and it made a lot of money for ge. he did lot burning in the industrial businesses. it cost them in 2008. jeff: times of change. they had their near-death experience. it makes sense to get out of commercial credit. getting rid of nbc was a good idea. ofthey could have done some that years ago. they had problems for five or six years. the timing is great. erik: assets have appreciated in value. rid of getting capital is a response to new regulation and general electric does not want to be a financial institution. jeff: it frees up money for them to spend on oil and gas and health care. erik: the timing is good. is there enough private dough out there to take them 10 and $20 billion chunks of the competitive a enough environment to give them high prices? wherehink there is a shop they might exceed their expectations. they have had a lot of traffic and we have news every day of somebody looking at the assets. on the finance stuff, they will remain in the business is related to their core businesses. that is a great stabil

jack welch joins us on the phone right now. jimmy cited u.s. ving him the best career advice he has ever gotten. talk to us about what he was like as a person. jack: good morning. i absolutely -- bill capture just about everything about jimmy. my phone rang all afternoon with everybody wanted to talk about jimmy. 15-17 calls with people wanting to talk about their best friend, jimmy. it is such a shock you almost can't believe it. he was a force of nature. when he wanted to get a deal done, he got it done. you knew when you were in a handshake with him, he would deliver the bank. he was a guy who likes to gossip he was a regular guy, a real guy. i enjoyed having dinner with them, enjoyed hanging out with them him. he was so much more than investment banker -- an investment banker. my grandson is now a freshman at williams. i made with jimmy when my grandson became a freshman at williams. bill: i had the same expense. i finally made it with jimmy. until my kids were williams college in rowley's, i had not made it with them. -- inenrollees, i had

ikeil: jack welch. there is another entry on the democratiiscside. v relief and former maryland governor martin o'malley said he is ready to challenge hillary clinton, charlie gasparino on the scene we are getting particularly from the likes of of aalleetwhis morning be killing it. >> love you at noon. you are a good lunch partner. ikeil:gree long as you're picking up the check. >> i love to hear jack welch saylthe word sifi. adam: it might go bad. >> banks and big business will be a big issue for the left. and almost walter o'malley i grew up with a guy named walter oc1 thlley. usitinness forley. he went right after goldman sachs's il lloyd blankfe to nn, a column i wrote on fox balmness a couple months ago where i said wall street is fine tieh either hillarcratlinton or jeb bush and essentially he said that in his attacks yesterday whhe che announced his presidentiam: c1 nomination. we will see a lot of that. what does that mean for mud business standpwhant? wanting you have to look at goldman sackf will be in the news a lot. if he keeps going with

. >> we have former ceo jack welch joining us. this is his first time on fox business.ou. >> you're a rascal. >> and since i'm out amongst the peeps, i thought i'd check in with some of the people walking the streets of manhattan. >> neil cavuto fox business. i watch you all the time. >> you are looking at a bull stuck in a well. this matters to you because a bull stuck in a well refusing to get out could be analogous to a bull market. >> olive garden breadstick sandwiches. hello. incidence that this happens the same day my show debuts? >> first of all, you're making me wait here in the rain holding these wonderful breadstick sandwiches. >> you gave it a -- it's not bad? >> love you at noon. you're a very good lunch partner. >> well yes, i am. hopefully you're picking up the check. we were on the same flight from hell. >> it really was. it was the flight from hell. >> governor scott walker you would not know that he was out here in high heat and humidity and from the summit of all summits. yes, you can have your cake and eat it too, you just have to run 60 miles after y

we need the jack welch. >> who is that then?>> i even heard the name marissa myer being said to around. >> steve, you're the kind of guy -- you watched the tape, listened, the initial reaction is what everyone thought. listen this is not a surprise that the ceo stepped down. we're up $3 and now we're up less than a dollar. what is that telling you? why is the rose off the bloom so quickly. >> you're right. and i do pay a lot of attention to price action. there is through the price. and the fact that it's come off this quickly, i like twitter. but let's curb our thusium, this is not a new but it's not a new person, it's a new company, this company needs to get taken over, my guess is google is taking a very hard look at it. if i own twitter -- which i don't, i would certainly hoping that it would be taken over by google would be the natural fit. >> would you buy it. >> no. because i wouldn't buy something based on mna and i don't know enough about it. i use twitter constantly, i think it's an incredible powerful and are entertain

to be part of a strong bench, when you were at ge and you were one of the finalists to replace jack welchnch now at boeing, and you are now the ceo who has said okay dennis muilenburg is in the eyes of the board the right man to lead this company in the near future. perhaps for a long time. but you've got a strong bench. how do you convince wall street that that bench, that talent, whether it's ray connor running commercial or the other executives in the division that that bench is going to stay in place and you will remain with a deep bench. >> i think we have exposed our investor group to us working together as a team in many different venues. that's one way to do it. i think they see us working together. i think results at the end of the day are the thing that count. and i think that the same faces for a company that is not achieving results is not a good thing. same faces working together for a company that is achieving results is a good thing. i think recently the same faces have been working together and we hope to keep that going. >> guys, i want to bring in steve grasso. he's got

we will hear from jack welch. the former ge out vonnie: ceo joins us later.s. olivia: police have released pictures of a white man there's a shot and killed nine people at a historically black church last night. he's described as being between 21 and 25 years old. the police chief kills the killings a hate crime has asked for the public's help in washington. >> we are bringing in resources from washington to help us. we set up a hotline. we have agents and police officers manning that phone.

. >> rose: jack welch used to say you want to be one or two in every business are you in. you want to be in a premium place. >> yeah, i think we are in fantastic businesses with leadership positions. and i will go back, charlie. we're as deep as we are broad. in other words we have deep understanding of all the businesses we're in. we share ideas across the company. all of these places are places we can win and win over the long-term. >> rose: talk about energy and solar. >> uh-huh. >> rose: where do you want to go and behe. >> look, i think renewables is big in the g export port so we're big on wendt we're big on hydro. we do solar balance of plan and renewableare going to continue to grow. we've always been believes that diversity matters in terms of energy. and so we're also in gas turbines an other technologies as well. but renewables are going to be a big part of the world's future for sure. and solar will have a growing role in that. >> rose: what are we learning from china about solar? >> kinda drove the solar panel pricing through the floor. so when you sell below

when jack welch needed to do something he called jimmy lee.st, the parent company of our network, had a deal to do he called jimmy lee. he was in the middle of the aig crisis and helped save that company. he did the gm ipo. alibaba. you think about jack ma. i'm not sure jpmorgan had any business doing that deal but he went to china and he got jack ma to do that deal. same thing with facebook. so he will be somebody who will be remembered for a very very long time. and had just such a huge impact. i think to the point you said about work. he was somebody who loved to work and he loved jamie dimon and he loved jpmorgan. he loved the people he worked with in a way -- it's almost indescribable, hard to articulate because it almost seems comical or like a caricature, but he really was that person who loved this business in a way that is so hard to describe. >> andrew and kelly, one thing that's interesting about jamie is the number of times he reinvented himself. he started some 40 years ago at chemical bank and was a pioneer in the syndicated loan

had to reverse jack welch. he waited until jack of course left before he did it. it's hard to do.advisory role. you don't need them there as a sitting member on the board. >> all right. thank you so much. >> thank you. >>> when we come back this morning, we'll tell you about some stocks to watch including shares of blackberry spiking on the company's latest report. plus bucking conventional wisdom. author michael wolfe is set to el us why old is once again new in this digital age. stick around. "squawk box" will be right back. automotive innovation starts... right here. with a control pad that can read your handwriting, a wide-screen multimedia center, and a head-up display for enhanced driver focus. all inside a redesigned cabin of unrivaled style and comfort. the 2015 c-class. at the very touchpoint of performance and innovation. you probably know xerox as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configur

and jack welch joins us this morning to remember him. jack is on the phone this morning.te who jimmy was and really how important he was and how he touched so many people's lives and touched corporate america in a way i think most of our viewers may not even fully appreciate. >> that's -- there's no question of that. i spent all day yesterday on the phone. i must have had 15 calls from people all wanting to just talk about their experience with jimmy. i mean from ken langone to calhoun. there were all kinds of people who he had touched. and everybody thought he was their best friend. >> you know that's a very special thing. because everybody did think they were his best friend. when you think about bankers and people talk about the investment banking industry becoming comodditized can you tell us about the deals with you? >> he was just a guy that always got it done. the thing about jimmy was, he was relentless to pursuing to closure. i can recall one of the biggest deals after my time in private equity. when we were buying the home depot supply company. and we were buyin

suzie and jack welch. forget the kardashian label, struggling to keep with caitlyn jenner.er girl could be worth a half a billion dollars. show us what you want to see on facebook. make sure to click on the like buttons to get the latest update on the show. back in a minute. ♪ >> welcome back. let's talk markets. we're 40 minutes away from the opening bell on a thursday. nicole petallides on the floor of the new york stock exchange. nicole: the markets have been under pressure all morning long and they've come up off the lows. we've had some earnings procedures. we're watching the teen retailerer, five below. this name that's been to the down side, about 14% lower, is now looking like a winner this morning. on the down side though, turn that hour around and that is smucker's. they've come out and seen declining volumes of sales and had a disappointing earnings forecast. not only do they have smucker's, the james and such we know so well, but folgers coffee and they're doing well with the brand milk bone. diamond food and also verifone. >> the telecom stocks and according to

. >> jack welch did too. >> i did a lot. how about al.lly gets out of the stereo type and has a huge success. >> the modern family stereotype is a much better. he's sweeter, kinder gentler. >> i love him so much. and katy segal got out of it with sons of anarchy. >> she's in pitch perfect 2. >> i've been wanting to see that. >> let me just lean back here for a second. >> oh man. >> i was changing shoes because those are flats. >> i do not have a shoe thing. i also don't understand websites that people go to to watch people step on bugs. >> or toes. >> or small animals. is that something -- >> small animal thing? >> stepping on bugs? watching people? >> no. >> there's a lot of fettishes i don't get. >> we're going to talk sort of business story. uber paris, the guys got detained. >> courtney love got surrounded by an angry mob or something. >> detained because now uber is running a service that allows -- this goes to your issue, any driver if you just have a car you can pick somebody up. technically this is illegal in paris. this is illega

. >> i like guys like jack welch, like henry kravitz. carl icon. we have people that are great.em, joe. we use people that are soft and weak and frankly stupid and incompetent. >> what's your position on the issue of whether or not to raise the minimum wage? >> i would say leave the minimum wage. that's not the problem, mika whether somebody is getting -- >> people can't live on what they're being paid. >> the problem is we have to get jobs in the country. the jobs are being taken by mexico and china. the jobs are being taken by india. you call up american express, and you talk to somebody on the phone, they have an accent. you say where are you from? we're talking to them in india. and i say, we can't do that ourselves? we have to bring back jobs. >> don't you think wages are a part of that issue, and okay obviously, you don't agree with raising the minimum wage but do you agree that stagnating wages are a huge part of the jobs crisis in this country, and if so, what would you do to fix that? >> gross domestic product for the first quarter. went below zero. that's unheard of. i