joining us now is klaus kleinfeld, the chairman and ceo of alcoa. aus, i understand many of the numbers were made but you made projections for engineered products, for transportation and construction and for aerospace, for north american trucking that were quite disappointing versus what i was hoping to see. can you explain when things could turn so that people might want to own the stock? >> jim, let's be clear. all the iconic segments increased their profitability and all of the future alcoa corporation segments have been profitable in spite of the low commodities pricing situation. we are facing some near-term market challenges on the commodity side. low level as well as on the aerospace. at the same time, as you know, we are concentrating on those things that we can control and you saw productivity, you saw monetization. on top of it we give quarterly guidance. when you look at the quarterly guidance, all of the iconic segments have performed well inside their quarterly guidance. have performed well meaning better or in the range than these ones.

according to klaus kleinfeld, a slowdown on growth section of alcoa. melissa: scott, do you buy that? what is your market telling you? >> what i'm hearing and this is what i'm seeing, goes against what everybody is saying, how does that sound? for last five years we're waiting for second half recovery. every single start to the year we talk about the second half recovery. guess what? it doesn't happen, like we'll have four interest rate rises at the end of the year. at the end of the day they are guiding lower guidance. we don't have a strong enough economy. look what corporate ceos of america are doing. they're not expanding, not buying new plants, not buying new buildings. we don't see true growth. second half recovery, blame it on hurricane matthew, they will find a reason why. melissa: they're not just blaming it on hurricane matthew. a a lot of companies are blaming election. that consumers are waiting until january to spend because of the election? john, does that make any sense to you? scott i will ask you in a second. >> that seems like a ridic

at the top of the hour, you don't want to miss the ceo of alcoa, klaus kleinfeld will join the team. they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. and it's got the spring and bounce of a traditional mattress. you sink into it, but you can still move around. and now that i have a tempur-flex, i can finally get a good night's sleep. buy the most highly recommended bed in america for as low as $25 per month and a 90 night free trial. >>> our special guest this morning has been lee cooperman. we have a couple of minutes left with him. during the commercial break we were talking about taxes and also warren buffett came out yesterday attacking donald trump's comments attacking him. >> i have enormous respect for warren. a number of years ago i gave a speech on a subject. he wrote me a letter praising the speech. in his closing sentence was i believe in praising by name and criticizing by category, which i thought was a great comment. i