why is kkr the one that you have chosen as opposed to the other names? at a lower multiple adjusted for some of the balance sheet adjustments. so we think you get the best of both we favor the outlook for earnings growth there and think the valuation is cheaper. >> last time you joined us, which was back in october, you gave good advice too your viewers you were touting willis towers watson and pfizer both up sharply in the period since then well done. >> thank you. >> do you still like the names or have they moved to the point oakmark may look to take profits? >> we still like the names we're always looking to allocate, you know, our dollars into the highest risk adjusted returns we can find. but no, in both instances we believe the companies are kind of executing according to our expectations our fundamental expectations and think they look cheap. in the case of pfizer we think it's 13 to 14 times next year's earnings we think a company is capable of growing high single digits that's a pretty cheap multiple certainly lower than a market multiple today

>> i think a ton of worker retraining it's been a huge investment for kkr. fertility.companies that make supply chains more efficient the labor arbitrage between asia and the u.s. has narrowed. how do you invest your own real estate, your own infrastructure. ultimately warehouses, that's been a big area of focus for us. the most important we can do is what we're doing to engage our employees and letting them be owners in the business what you see is the attrition goes down, satisfaction goes up. you end up with a better outcome for everybody. >> you guys as the investor in all these different companies all around the world have an interest in making sure you have good workforces to make sure you get good performance the best way is to make those workers basically shareholders of the company as well if you are doing that as such a scale, does that incentivize people enough? >> i think so. if you look at our 200 portfolio companies, we have almost one million employees. that's a major business. how do you treat them? how do you work with them? if we're in the right verti

kkr.ty firm that buys, manages and eventually sells companies aiming for a big return. the private equity industry has long had a reputation for layoffs and cost-cutting. >> this is our global headquarters here in hudson yards. >> reporter: but kkr partner pete stavros wants the industry to adopt a new model that gives every employee a small ownership stake. >> i think it's a superior wie to operate a business in every respect. it is better for workers. it's better for companies and corporate cultures and in the end it delivers better results. >> reporter: so far, stavros has overseen seven ownership payouts. >> 14 months of annual pay. >> reporter: a lot of people watching are skeptical. are you telling me that what you are trying to do is to change the system entirely? >> exactly. >> reporter: talking to you kind of feels like a little bit more like bernie sanders than a private equity executive. >> it always helps growing up in a family where your dad was a construction worker so you un

you're seeing that compounded by the issue at kkr.labor force is really distorted across the world because a lot of factors both because of immigration changing in a big way comes up consistently in this project and this idea here that may be the central banks are losing control of the labor narrative. >> to that point it's not just covid it will be demographics, people retiring and things that cannot be fixed overnight. >> talking about inflation and the forms of inflation people face in the labor force. real wages are really meaning and what you need to see here. there's another inflationary force that's brought up here. a force of inflation that complicates things for central bankers. the energy transition. she talked about the inflation reduction act. the idea this transition could increase -- create inflationary forces. alix: a lot of money pouring into it in some ways how could it not be transition air -- inflationary. looking forward to the event, it appears 9:30 p.m. new york time. be sure to check it out. guy: let's talk abou

private equity firms bain capital and kkr are set to be among the suitors in the next round of bidding a majority stake in fujitsu's air-conditioner manufacturing unit. numbers to around 30 minutes with economists expecting a 2.9% decline on the year. the nikkei reports nissan will invest $250 million to expand powertrain production at its plant in tennessee. in south korea, it is the deadline day to buy shares of sm entertainment at around $90 each. the industry ministry says korea will move to reduce reliance on china for key roles such as lithium, nickel and cobalt from its current 80%. defiant ministry ethics committee a set to meet later with -- here's a check of the business flash headlines. brookfield management is seeking at least the billion dollars for a second fund to invest in energy transition. it plans to start the fundraising by midyear and may eventually raise as much as 25 billion dollars depending on investor demand. brookfield's renewable energy strategy includes investing in businesses that want to do carbonized but lack the capital or know-how. voters report tencen

we know apollo kkr for example separately has these capital markets.'re seeing the texture of wall street change in front of you with deals. alex was laughing at me because >> i get too excited. >>she reminds me when i talk about oil. the face of the environments are changing in front of us. >> it's all exciting. >> more companies are exciting. airplanes are very exciting. thank you very much indeed. doing what she does best. let's talk about what's happening in the european equity story. time for last call. looking at that as a tire maker. absolutely battered today it basically delivered everything the market did not want to hear. the stock under real pressure as a result of that. a number of different earnings stories which are affecting some of the rates. credit suisse raising the price on linde. this listing in march of frankfurt is can have a full listing over the united states. the stock is up. it has got a 370 price target trading. a number of different stories coming together. bmp downgrading saying expectations are too high. they've generally

in italy, the government will study kkr's offer for telecom italia's network unit.omberg reported the firm would value the business at $22 billion. telecom italia wants to sell its network to cut the company's debt. the bank of england is signaling the end is year for interest-rate tightening. chief economists -- a chief economist says policymakers must avoid going too far in borrowing costs. he did not rule out another rate rise but changed his previous comments that further increases are likely. more than two decades after dropping out, ford is returning to formula one racing. the automaker will reenter in 2026. that is when new regulations will require teams to increase electoral coal -- electrical power by 50% and use ethanol as fuel. that is the latest business flash. tom? tom: thank you very much. let's take a look at where european markets are trading as we head to the close and the end of the week. of course a turnaround across the european benchmark on the back of the day for the k-3 from the u.s.. the heavy lifting is done by the ftse 100 which has rallied

he's a partner at kkr and chairman of the kkr global institute. dr. heather wilson is a former member of congress and served as 24th secretary of the air force and 11th president at university of texas el paso. general retired phillip breedlove is the former commander of u.s. command and allied commander in europe, which is one of the coolest in the military supreme deputy deck torr and national deputy director of geospatial industry and possessions of cis. thank you all for being here. we look forward to your observation today and we're all familiar with this committee and our charge. we're going to be done to prove cohesions and the work to be proved and there's a few questions about a blip. the ranking members. >> thank you, mr. chairman. i want to begin by holding these and the panel rather than the hearing but one of my complaints about the congress is that we do a whole lot of breads and not enough debts and this will allow us to get into the guts of the challenges around the most significant risk. i was really impressed to see a lot of testimon

you know, this is an activist that has dealt with founder led or controlled companies, kkr they werees" and the salzburger family, fox when oven went on the board there and the murdochs the focus is going to be on cost savings and has been it may put in perspective the comments we got from daniel ek after the conference call which they responded to in hindsight i probably got carried around and overinvested relative to the uncertainty we saw shaping up in the market and went on to say we're shifting to focus tightening our spend and becoming more efficient and remaining efficient with the planned outline investor day that would appear to be value ek likes and believes and the economics of the business as well being quite positive, particularly when you start to focus on saving money. >> yes spotify, a couple rounds of layoffs now. certainly speaks to the environment for activist investors in tech right now too overall. david. we -- during february we're celebrating black heritage month through the stories of some of our cnbc teammates and leaders in business. here's chairman and ceo

age 78 original pioneer his firm was something that was considered in the same breath as kkr back in the day. would have been considered in the same breath as blackstone back in the day. dead at the age of 78. there are now reports this morning that his death may have very well have been a suicide. found at his office on fifth avenue the report suggesting that there was a gunshot in the office. >> a gun there in the office >> you know, when i first saw the news last night, someone relayed to his family. i have written about him for years. he bought snapple. >> he started his own firm and left and scott was running his old firm. >> i remember writing this big sunday piece for the times a profile of him in his apartment down in the 50s or 60s east side. he just bought warner music. there was a little bit of a split within the firm. he went off to do his own thing. if i remember, what did he name his firm from the movie "wall street." blue -- >> horseshoe >> something like that >> he would call he had a lot of opinions big viewer he would weigh in on what you said this and you would say