the stock price of the stock lost almost half its value since the beginning of the year in fall john flannery announced to cut the dividend and half that also did not really go along very well here on wall street's all there so wall street does not fully convinced at this point tough times for g.e. thank you very much in court in new york for the analysis speaking of energy in mexico might fear the possible end of the nafta free trade agreement but so far investments haven't felt the pinch this company to russia. a new market has opened and the world's largest oil major exxon mobil has not done the opportunity to expand. this is just the first of fifty stations it wants to open by early next year the fuel is delivered by rail from the u.s. to supplying these stations we've made a strategic decision to work with the mexican terminal owners to bring forward if you are made in our own refineries in texas down to mexico to ensure that consumers can experience the full experience of mobile fields and the quality guarantee that goes with. market reforms in mexico recently ended the monopoly that th

the new ceo john flannery announcing major restructuring plans for the company's operations and alsong its dividend by 50%. the stock the biggest loser on the dow industrial this year, down better than 40% in 2017. bob was an integral part of their senior executive suite for 30 years. i asked him to take us inside. look at the company's future and whether he would actually buy g.e. stock today. >> it's really heartbreaking for me. i was so privileged to be part of general electric for 30 years, to have jack welch as a mentor in providing leadership and really help formulate a lot of my leadership skills and management skills. it was such a collegiate kind of competitiveness there were no one through anybody under the bus. if i was short a couple of pennies jim mcnerney would jump in or vice versa. it was just a wonderful, competitive, spirited, passionate kind of culture. >> but a team. >> it was a team culture. everybody took the field, were the same jersey. played for the logo on the front, not for their name on the back. >> but does not not happen once jack left? to speak there de

. >>> back now with susan hennessey and john flannery. their russia investigation. here's what the democrat's ranking member had to say about it. >> i asked the attorney general whether he was ever instructed by the president to take any action that he believed would hinder the russia investigation. and he declined to answer the question. there is no privilege basis to decline to answer a question like that. if the president did not instruct him to take an action that would hinder the investigation, he would say so. if the president did instruct him to hinder the investigation in any way, in my view, that would be a potentially criminal act and certainly not covered by any privilege. >> so sessions has used the excuse of privileged conversations before when testifying about russia, but is that something hays even allowed to do? >> i don't think so. and one of the reasons is because they, when they did the comey thing, which is what this is about, they released letters, so in other words, whatever conversation they were having was leadi in

jeez new ceo john flannery is struggling to cut costs and turn around the beleaguered manufacturing conglomerate china sharia explains. after decades of spreading risk across a range of industries g. e. wants to shrink itself into a more focused company. the u. s. energy giant is cutting twelve thousand jobs worldwide in its power division eleven hundred workers in the u. k. one thousand six hundred in germany and other one thousand four hundred in switzerland. that's eighteen percent of the units two hundred ninety five thousand strong workforce. the goal is to save one billion dollars in structural costs in the power division in twenty eighteen and three point five billion overall. this decision was painful but necessary fuji e. power to respond the disruption in the power markets which is driving significantly lower volumes in products and services. france's g. e. power workforce won't be affected as burned agreement with thousand as say when ge bought it in twenty fifteen. according to analysts demand for jeez power generation equipment is flagging due to four factors overcapacity lower util

. >> john flannery has already been the ceo for a couple of months. the board, a new in ge power. vonnie: a very comprehensive story. thank you. coming up, or be getting ready for the start of another bulrush -- bull rush for the u.s. dollar you out this is bloomberg. ♪ shery: this is "bloomberg markets." , tradingululemon higher after third-quarter earnings. the stock is on pace for its best day since july. abigail doolittle are is -- is your kitchen -- if you tell us more. there is nothing wrong with the stock. did -- it is very bullish. expectations are not low going into this. they improved on top and bottom. let's pop into the bloomberg to see how positive the reaction is. see the stock is up nearly 7% on the day. average.e is above look at 700%. we're also looking at the 15lyst rankings, 17 buys, holds. maybe this will get more bullish. expensive, buty a 25% premium to the peer group. they just put up a great performance. they were in such trouble for a little while. abigail: they have this great brand. people are so loyal. one of my cousins wor

whitewater independent counsel robert ray, former special counsel to the senate and committees john flanneryttorney general. general michael flynn took to twitter to address his brother. here's what he wrote. about time you pardon general flynn who has taken the biggest fall for all of you given the illegitimacy of his confessed crime in the wam ke of all of ts corruption. then he said, mr. president, i personally believe that a pardon is due to general flynn given the apparent and obvious illegitimacy of the manner in which the so-called crimes he plead guilty to were extracted from him. i ask for quick action on this. what do you take from his original wording that flynn took the biggest fall for all of you. how significant is that? >> it certainly does suggest that he's saying that flynn is somehow pleading guilty to hide crimes from others, right? that's sort of the implication there. of course, he replaced it later. the whole tweet is pretty remarkable. typically when people cooperate with the government, they are on the team, and usually their family and all their associates with not a

filing, he said while he's supportive of ge's ceo, john flannery, he no longer has enough time to selfn the board adequately >>> iron mountain plans to buy the u.s. operation of io data centers for 1.3 billion. the deal includes land and buildings in several states. iron mountain is down 2% this morning. >>> news from overseas european leaders are sounding the alarm on the current u.s. tax plan making its way through congress a group of european finance ministers raised the possibility of retaliating against the bill if it promotes trade discrimination joining us from london is chris charles of "the financial times. thank you very much for joining us first question in broad terms what is it that finance ministers think is wrong with the u.s. tax bill? >> there's two bills, one in the house of representatives, one in the senate different things are wrong with different ones in essence they say that each of the bills going through congress discriminate against for rin companies, and are sort of an element of trade protection by making american companies or companies that operate in ameri

let's discuss this now with robert ray, laura cotes, and john flannery. good evening to all of you.committee, took to the senate floor this afternoon to draw a line in the sand. here's what he said, in part. >> the president said he's not considering removing special counsel mueller. congress must make clear to the president that firing the special counsel or interfering with this investigation by issuing pardons of essential witnesses is unacceptable and would have immediate and significant consequences. >> what do you think of the senator's remarks? >> i don't think democrats or a democrat should be drawing lines in the sand. on the other hand, congress is a branch of government. i don't understand the sentiment. i don't think the white house has any intention of firing the special counsel or issuing preemptive pardons. i get what he's trying to say, but it would be a story if a republican had that to say, not a democrat. >> the white house counsel ty cobb did respond to warner. he said, if the media is going to continue to ask for responses to every absurd and baseless rumor, for

john flannery was out walking his dog when his neighbor stops him. >> he said did you hear the bang bang bang? he thought it was fire crackers, but it was i guess bullets. >> reporter: it was then they spotted the victim, a guy who had been riding his bike was down. witnesses say he appeared to have been shot and then collapsed. >> there was a guy laying in the front yard. >> reporter: not long after, he says an ambulance arrived and put the cyclist on a stretcher and took him to the hospital. officers went door-to-door interviewing neighbors and searching for clues sop far, police are not releasing any information of what might led up to the shooting. investigators only have very vague suspect information. but the not knowing is what has neighbors here rattled. >> too close to home. >> i was out walking. we could have got a stray. we were out looking at christmas lights. it's almost christmas. what are we doing shooting people? >> that was roz plater reporting. a lot of people in the neighborhood are asking whether this was a random shooting or if there is a gunman on the loose targetin

. >>> in more corporate news, general electric ceo john flannery says they made basic mistakes in itsower business ge announced job cuts of 12,000 last week. speaking to cnbc, flannery said less complexity is better. >> biggest issues are really in one business, our power business, and we made basic mistakes there around size of the market, change in the mix to renewables, and there's a chain reaction of that we built too much inventory thinking the market was going to be stronger. so, it was really a localized issue, and again, really not in the india market and other markets. so more focus is better. less complexity is better. but most of the company running well right now >>> now, coming up on the show, republicans attempt to overhaul the u.s. tax code face questions as senators raise new concerns zar: one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "

and john flannery, former federal prosecutor for the southern district of new york. ing tonight, the president repeatedly pressured the top senate republicans to end the russia investigation. the white house is pushing back on that, but is trying to influence a senator like that cross any sort of legal line? >> well, yes, he's a thug. he's been a thug. we saw it with yates. we saw it with comey. it shouldn't surprise us. he does everything he can to shut down the investigation that will reveal what he did. and the thing with flynn that's probably made him more nervous than ever, and apparently even silenced sessions to decide whether or not he would say that the president hindered the investigation involving russia. >> susan, could this be considered an attempt to obstruct justice? >> we don't know about the specifics. it's probably not enough based on what was reported to say it's an obstruction of justice attempt. that said, this is clearly part of a pattern. you know, from bird to blunt to pompeo, admiral rogers, the head of the nsa, all the way to james comey, tru

ge ceo john flannery wasting no time in admission to slash costs, 12,000 jobs in global power business. a move that would save the unit one billion dollars in 2018. >>> shares of general electric currently trading half a percent higher. >>> dollar general hitting a new high, americans shopping till they drop. the discount retailer in the third quarter due to increased traffic after hurricanes harvey, irma and maria. dollar general shares up nearly 2%. >>> facebook upping messaging game, instagram testing a new private message app, direct, which could give the social network a third stand alone messaging tool. shares up 2% as of now. liz claman talks to congressman martha mcsally coming up next. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuve

drop in whats and coal market and alternative demand increases, the layoffs are part of new ceo john flannery's cost-cutting agenda. he wants to reduce overhead by $1 billion this year and $2 billion next year shares of ge moving higher on the news premarket, up more than half a percent. well, as reported earlier by fox business charlie gasparino, roger goodell has signed extension to remain commissioner, the new contract could pay goodell up to $200 million, a large percentage is paid through bonuses and incentives that have been approved by nfl owners. goodell will have access to private jet but will have to pay for personal travel himself. dallas cowboys owner jerry jones was fighting the contract extension. he had threatened to sue the compensation committee during negotiations, but looks like goodell has won. we now know who bought the world east most expensive payment, -- painting. the new york times says the buyer is a saudi prince who has not been a major art collector and no publicly source of wealth, we should add. tweeted yesterday the painting is coming to abudabi. today is national

this is set to cut 12,000 jobs in a power unit, part of john flannery's turnaround plan. this is stock down 44%. year to date, worse than 2008. is enough tothis encourage investors ahead. bitcoin is amazing. over the last two days, bitcoin taking out several round numbers. over0-13,000-14,000, now 15,000. that, david. bitcoin continues. futures trade next week. it.id: mini is one word for lisa: another work. [laughter] david: insanity, i don't know. morning brief. 8:30, we will get job claims. at 9:45, bloomberg consumer comfort data. 11:30 this morning, president trump will meet with republican senators. later in the afternoon, he will get together with members of the congressional leadership. that's all coming up later today. sign up for our daybreak first take, where we discuss the first stores of the morning. first up is tax reform. orrin hatch is saying ":there is a drive to set the corporate tax rate of 22% instead of 20%. we will turn brexit with theresa .ay, another proposal wildfires raging in southern california. joining us now is the person who oversees bloombe

more layoffs general electric ceo john flannery tries to turn the struggling company around. reduce the power segment's head count by 12,000 or 18%, mostly overseas, over the next year and a half power is ge's biggest business, accounts for a third of sales, the most jobs and recently became a big source of pain. profit in the yun plunged last quarter and a key reason the 2018 earnings forecast was slashed in half. that downturn has been dramatic reversal from just earlier this year when ge believed the segment, which includes $10 billion of assets mainly coal-related, would power earnings growth. to be sure, g, e is not alone. rival, seamans, announced cutting nearly 7,000 jobs. if speaks to how quickly the world is shifting from traditional energy sources to renewable ones, creating competition, driving down pricing and threatening not just orders for companies like ge, for things like gas and coal-powered turbines, but future service revenues tied to those as well. so the question now, is it too little, too late ge doubled down on fossil fuels in recent years. it didn't re

filing, he said while he's supportive of ge's ceo, john flannery, he no longer has enough time to servethe board. >>> iron mountain plans to buy the u.s. operation of io data centers for 1.3 billion. the deal includes land and buildings in several states. iron mountain will pay $60 million based on io's future performance. >>> small business optimism near an all-time high the index climbed 3.7 points in november to 107.5. this is the second highest level since 1983 when it hit 108 and the highest level since president trump took office. the biggest jumps this month were in those who expected better business conditions, and those expecting better job creation plans we have much more optimism due to small business owners believing the tax reform may truly come to fruition tax is one of the biggest issues in the survey followed by finding skilled workers. the group still acknowledged uncertainty and said there is still much uncertainty about healthcare and taxes, but it appears owners believe that whatever congress finally comes up with is an improvement so they remain positive we will hav

it doesn't address the underlying business but mister flannery is doing a good job with a complete reset in addressing that. stuart: let's see if johnyfield, back to the beach, see you soon. check netflix, price waterhouse coopers says the number of people who subscribe to netflix are on par, about even with the number of people who pay for cable. how about that from netflix? check blackberry? stock is up 10%, they are making money but not by selling phones with keyboards. that is the old days, leading the charge and software for self driving cars, the ceo -- i didn't know that. john jen is with us next. ♪ ♪ a wonderful christmas time ♪ so... i'm hoping for good years ahead. that's thanks to research funded by the american cancer society. the same folks giving me free rides to treatment, insurance advice,and a place to stay during chemo. i need that stuff like you don't know. and now that you do, please give at cancer.org stuart: breaking news fox reporting bruce or will testify before the senate select committee on intelligence tomorrow, the former deputy attorney general who was demoted because of meetings with officials from fusi