she's helped create the jimmy choo brand. "on the money" begins right now. >>> here is a look at what's making news as we head into a new week onto onto. at least they're talking after weeks of a standoff. president obama met with house republican leaders on thursday and senate republican leaders on friday. that to try to reach an impasse and get the federal government reopened once again. the government will run out of money this thursday if no new deal is reached. the markets love the idea of any deal. the dow skyrocketed more than 300 points on thursday, the second best day of the year. the nasdaq and s&p 500 jumped as well. the markets continued to climb on friday. ending months of speculation, president obama announced his choice to run the federal reserve this week. it was no big surprise, janet yellen, current vice chairman of the fed is born and raised in brooklyn, new york, a professor at harvard who taught larry summers. she would be the first woman to chair the fed ever. expected to basically continue the policies

she helped create the jimmy choo brand. "on the money" begins right now. >> this is america's number one financial news program, "on the money." now maria bartiromo. >>> here is a look at what's making news as we head into a new week "on the money." at least their talking about weeks of a standoff. president obama met with house republican leaders on thursday and senate republican leaders on friday. that to reach a deal to break the impasse over the debt ceiling and get the federal government to reopen once again. the government will run out of money this thursday if no new deal is reached. the dow skyrocketed more than 300 points on thursday. the second best day of the year. the nasdaq jumped as well. the markets continued to climb on friday. president obama announced his choice to run the federal reserve this week. it was no big surprise, janet yellen. she was born and raised in brooklyn, new york and a professor at harvard. she would be the first democrat to head the fed in 30 years and the first woman to head the fed ev

earlier this week, i spoke with a woman who built the world- famous jimmy choo empire about the power of shoes and a rather dim view of private equities in the fashion district. ♪ i want to start with jimmy choo. you built a spectacular brand, but your whole business model sounds like it was incredibly painful. >> it was very difficult because we had a private equity coming into the business, and very often their interests did not align with years. i believe private equity has turned into something it was never meant to be. guys toecome a way for get fees by flipping companies. they want to come in and out of a company within two to three years. for a management team to go to ray sales process every 2, 3 years is just not sustainable. >> i guess people will be saying private equity major incredibly rich. >> i would say i made him incredibly rich. i made it despite private equity. they are not experts in the luxury business. none of them had ever been in it before. i think there is a big misconception about them funding the business. they don't fund the business. and buy shares in the

, her new book is called "in my shoes" when you were at jimmy choo, what was the driving idea? >> it was, for me, it was two things. it was about my freedom, my independence, and really vying my freedom from a crazy family. i was motivated by fear. but then i was also so incredibly passionate about creating a product. >> rose: the possibility of a global financial crisis because of the government shutdown in washington, graydon carter on vanity fair, and tamara mellon when we continue. >> funding for charlie rose was provided by the following. >> rose: additional funding provided by these funders. >> and by bloomberg, a provider of multimedia news and information services worldwide. >> from our studios in new york c captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> i have made clear for months and months that the idea of default is wrong. and we shouldn't get anywhere close to it. >> the u.s. government shutdown is two weeks old and each day brings the nation closer to a possible default on its debt. lawmakers appeared close

>> well, i already had a brand from building jimmy choo. >> rose: right. >> i had name recognition. even though i wasn't the brand, but certainly enough to start with a good plat oral form to start from and i, platform to start from, why not use your own name. >> rose: that's my idea, it is just the easiest thing in the world to do and everybody, you know, finds -- and also it makes you conscious, if you use your own name, it makes you conscious of the fact that you want to make sure that it is not tarnished or, you know, you have a higher motivation to see, not to see it tarnished that ought to be beneath what the name represents in your own mind. >> exactly. i mean, i was like that before, but i was, you know, very detail oriented, but actually with your own name on it you are, you want to make sure it is good. >> rose: you want to create a new model in the fashion world. what is the model? >> the model is monthly deliveries. and that may sound like a very simple idea but what has happened to the fashion business, fashion show goes online, and everybody sees it, but it takes six m

colleague from her days at vogue, a shoe cobbler from london's east end named, you guessed it, jimmy chood soon a partnership was born. >> the original idea was for jimmy to design the collection and i would run the operation of the business. it soon became very clear that jimmy's skill was in making shoes. he's a cobbler. >> so he really never designed? >> not one. >> collection. >> not one sketch did i get from him. not one. >> so she became a designer by default. choo's name stayed with the country long after he was bought out. mellon would spend a decade growing the business. she credits her success and drive to her difficult childhood. >> your mom seems to have, of course, like all mothers do, play a central role in shaping who you are. >> she was a chronic alcoholic when we go up. >> that goes with all the mood swings and depression and the crazy and sanity behavior that goes around it because if you can't trust your own mother works can you trust? >> but she says her father was her lifeline. >> the warmth and the love i felt always came from him. >> his death began a downward spira

a shoe cobbler from london's east end named -- you guessed it, jimmy choo.nership was born. >> the original idea was for jimmy to design the collection and i'd run the operation of the business, but it became very clear that jimmy's skill was in making shoes. he's a cobbler. >> so he never really designed -- >> not one. not one sketch did i get from him. not one. >> reporter: so she became a designer by default. shoes name stayed with the company long after he was bought out and mellon would spend a decade growing the business. she credits her success and drive to a difficult childhood. your mom seems to have of course like all mothers do played a very central role in shaping who you are even today. >> she was a chronic alcoholic while we were growing up. and that goes with all of the mood swings and the depression. and the crazy insanity behavior that goes around it because if you can't trust your open mother, who can you trust? >> reporter: but tamara said her father was her life line. >> the warmth and the love i felt always came from him. >> reporter: hi

jimmy choo's success was built partly on the growing demand for luxury products in asia.ow sustainable is that growth? stay tuned to hear more of tamara mellon's thoughts on that. >>> and still coming up on the show, shell may be looking at big losses, but russia tmk says it has one big on the recent boom. we speak exclusively to tmk's chairman after the break. >>> president obama sends out an e-vite to try to find some common ground over the u.s. government debt ceiling. >>> no resolution on the u.s. debt ceiling would push member states back into recession next year. >>> a three-year currency swap deal starts between europe and china. and the ecb will gain access to 350 billion yuan. >>> japan's south retailing brings out record full year sales and operating profits ahead of next year's sales tax heex. but deep discounting stores keep earning short of its targets. >>> good morning, everyone. let's take a check off where european markets are. we are seeing optimist returning to the market. this is hopes for a deal between republicans and democrats later on today. the fts

the woman behind jimmy choo joins us next.euyour rheumatologistike me, about trying or adding a biologic. this is humira, adalimumab. this is humira working to help relieve my pain. this is humira helping me through the twists and turns. this is humira helping to protect my joints from further damage. doctors have been prescribing humira for over ten years. humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. for many adults, humira is proven to help relieve pain and stop further joint damage. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer, have happened. blood, liver and nervous system problems, serious allergic reactions, and new or worsening heart failure have occurred. before starting humira , your doctor should test you for tb. ask your doctor if you live in or have been to a region where certain fungal infections are common. tell your doctor if yo

check out some of the classics, for example, jimmy choos on sex and the city, remember those shoes?mints in seinfeld, and who can forget knight rider's possibility yak trans am? it -- pontiac trans am? let's bring in john jacoby with two subway locations, of course. i've been, fabulous. lynn echo and andy, ceo extraordinaire of fat burger. andy, i'm going to start with you because you are the king of this. fat burger is everywhere you look. reality tv, bravo, they're eating fat burger, they're ip corporating it into what they're doing. you did one of those undercover boss, that was like an hourlong commercial for fat burger. you're a genius. what are the secrets? what do you look for when you're trying to find somebody to co-brand with? >> well, i think that brands want to create top of mind awareness. that's the best way to align yourself, because you want consumers to be thinking about your brand and going to eat at your restaurant whenever it comes to mind. so when consumers are looking at hollywood, for example, they think of what the celebrities eat, and then they want to go to

i would like jimmy choo shoes if they're on sale, i still can't afford it. it doesn't mean i go and buy them. >> oh, you can afford it. go ahead, heather. treat yourself. gene, i think you would agree that this is a market that does want to go higher. it just feels like a market that wants to go higher. the bias is there as long as we can get past various obstacles, d.c. being only one of them. >> right, bill. i do think the market is going higher. heather mentioned roulette, the market is playing roulette. i would have to disagree with that. this has been a very strongly structured market technically. it has time and again exhibited a beautiful way of navigating through the bad headlines. this is the latest challenge for it. so far it's navigating beautifully. last week the dow went down to the 200-day moving average. hasn't been do there since december. rally strongly off that. we're holding above 15,000. you look at the end of the second quarter, bill, that's where the real story in this market is. that's where the broader market really began to show that

choo-zine. i don't know what it is. [ light laughter ] >> anyways, i come down, and i got an e-mail or something from eddie, and he was like, "i'm playing --" >> jimmyt." >> jimmy: your tocayas? >> no, tocayas is like a body part. [ laughter ] >> jimmy: your tookus. >> yeah, he's on my tookus. [ laughter ] >> jimmy: your tookus, yes. eddie vedder, yeah. [ laughter ] you got an email from your tookus. >> you're irish, right? [ irish accent ] >> jimmy: i don't know, i just call him -- -- sheamus. [ light laughter ] >> he s like, "i'm playing the beacon tonight, and a mutual friend says you know a couple of the songs, and why don't you come play with me?" so i ran -- >> jimmy: no. >> and so, i -- >> jimmy: i would type back "no." [ laughter ] absolutely not. >> so i ran home -- >> jimmy: you ran off the train. >> -- in a panic. >> jimmy: you jumped out of the window of the train. >> i ran out of the train. i left my bags, ran home, grabbed my guitar, and ran back up to the beacon theatre, and um -- >> jimmy: you played the beacon with eddie vedder?! >> i sat in. >> jimmy: no way! how cool is that? >> it was great. >> jimmy: you must have felt like a ro