on this edition of "bloomberg big decisions," ken langone.en langone, welcome to "bloomberg big decisions." you've spent a career making deals. tom murphy said you are better off missing 5-6 good deals than making one bad one. >> the best deals i ever did with the ones i didn't do. david: let's talk about those. what are the ones you are glad you didn't do? ken: i won't name names. i didn't understand what i was getting into. where i did not understand the business. where the surviving company's management did not have the leadership skills. that is what it is all about. what makes walmart a great company? and kmart, which was a giant one walmart study -- started, is now bankrupt. it is now part of sears, and they are struggling. what was the difference? people. they are more than all the people around them. todd cogle and, david glass and , now doug mcmillon. he is fabulous. people, always people. david: when you look at a deal, how do you assess the character of leadership, a good one from a not so good one? ken: i met jeff bezos last year.

on this edition of "bloomberg big decisions," ken langone.en langone, welcome to "bloomberg big decisions." ken: thank you for having me. david: you've spent a career making deals. somebody we both know and respect said you are better off missing 5-6 good deals than making one bad one. ken: i tell them the best deals i ever did with the ones i didn't do. david: let's talk about those. what are the ones you are glad you didn't do? ken: i won't name names. or i didn't understand what i was getting into. where i did not understand the business. where the surviving company's management, it is obvious they didn't have the basic leadership skills. that is what it is all about. what makes walmart a great company? and kmart, which was a giant compared to walmart when it started, is now bankrupt. gone. it is now part of sears, and they are struggling. what was the difference? people. sam walton. sam walton and all the people around them. david glass, and now more recently doug mcmillon. the guy who runs it. people. it is always the people. david: when

still to come, everyone, home depot founder ken langone is here.his is great deal to have ken here because he has a new book out called, "i love capitalism." so do i, ken. he will tell us what he thinks of the left touting democratic socialism these days. >>> new details emerging about elon musk and tesla. we're on it for you. see you here. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. trish: moments ago president trump's legal team responded to special counsel robert mueller's request to interview the president. this as president trump declaring victory in ohio, but his backed candidate is still in a race that is too close to call. last night brought a big win for unions in missouri as voters reject ad right to work law. joining me is former presidential candidate and fox news contributor herman cain. herman, good to see you. >> thank you. trish: let me start with the muell

on this edition of "bloomberg big decisions," ken langone.

on this edition of bloomberg big decisions, ken langone. welcome to big decisions.en: thank you for having me. david: you and i both know, you always said you are better off missing five or six good deals than making one that one. ken: i tell them the best deals i ever did are the ones i did not do. david: what are the ones that you are glad you did not do? ken: i will not name names. i do not understand what i was getting into. where i did not understand the business. where the surviving company's management, it was obvious they did not have basic ship skills. walmart the great company? and kmart, which was a giant when walmart started and now bankrupt? it is part of sears and they are struggling? what is the difference? people. are and david glass and now the guy who runs it now is pathless -- fabulous. david: when you take a look at a deal, how do you assess the character of leadership? what defines a good one? yeari met jeff bezos last and i told him i would love to spend time with them. he said he would like to meet frank blake who ran home depot, that he is re

shery: david: that was can langone. cofounder of home depot.ext guest went from being responsible from were hundred thousand -- from chicago students to american students as ofect your -- secretary education under obama. thank you for joining us. arne: good afternoon. thank you for having me. david: one of the things that is so compelling about this book is that we are telling ourselves lies about public education. is one of the lies what can langone was just referring to which is you can't do it? that you are disadvantaged and you can't perform? arne: that is one of those lies. i grow up as a part of the after school program in the heart of the southside in chicago with the students who happened to all be poor and african-american and who happened to live in a neighborhood filled with violence. but those young people, because my mother and others were in their lives so many went on to do extraordinary things. literally, from the day i was born i have seen what young people from extraordinarily difficult backgrounds can publish if we have high

ken langone himself a great example of that.e was out digging ditches as a young person out on long island. he went from digging ditches to extraordinary success, billionaire cofounder of home depot, a store we all know very, very well. he talks about just yesterday on set all of the people whose lives were transformed. they started as cashiers and home depot. now we're running in one case, in one case, one woman is running 1700 stores, so this is the opportunity for capitalism that this provides. people flocking to socialism right and left. what will that? what will that do to democrats? what will that do to america should the republican party be worried? joining me the chairwoman of the rnc, ronna mcdaniel. good to have you here. >> great to be here. thanks for having me. >> i think in some ways you ought to, politically speaking, we can talk about howaging it is for the country, but politically speaking this might actually play to your strengths the more socialism becomes the mantra are to the democratic party, right? >> the

tired markets, free education, politics and the economy billionaire investor, philanthropist ken langone joins us to talk about that and more. >>> plus tariffs hit home. we are live at a company that is feeling the pain it's already laid off a third of its workforce. "power lunch" starts right now >>> and indeed, "power lunch" does start right now i'm tyler mathisen, glad you could join us on a busy wednesday. stocks may be modestly lower today, but still a record-setting day with the bull market officially becoming the longest in history and if stocks can recover from this slight downturn, actually the s&p and nasdaq are higher, it would be the fifth straight day of gains energy, consumer, discretionary, all the leaders. telecom, industrials, they are your laggards right now. treasury is on the move. the 10-year yield hitting the lowest level since july 6th. leading the dow right now, exxon, american express and chevron. retail, though, the big winner today led by target, urban outfitters as well, the etf and xrt an all-time high who said retail was dead and on pace for its fifth straig

i asked ken langone what meant the difference between success and failure for retailers. a great company and kmart is now gone? the old kmart went bankrupt and is now part of sears. what was the difference? people. sam walton had the people he had around him. tom cotton, david glass. more recently, doug mcmillon. it is always the people. depot underat home bernie was thriving? and then frank blake and it is roaring? what is it? it is back to the people. whenever i have made a mistake about people, i have paid dearly. , home that is ken langone depot cofounder. that is the premiere episode of big decisions, tonight at 90 5 p.m. eastern. i sat with him for a good half hour. alix: i love ken langone. he says what he thinks, let's it all out there -- puts it all out there. david: he swore less. alix: that would be weird. staying in retail, u.s. retail sales will be released in an hour. , -- still withes us is emily roland of john hancock investments and erik davidson of wells fargo. i have been talking about the fourth quarter gdp. the consumer represents two thirds of the ec

ken langone fought his way onto a wall street that did not want him and put together some of the mostls of his generation, cofounding home depot, now a national chain with 300,000 employees. he is not afraid to speak his mind. thatporter of donald trump has doubts a

>> that was ken langone, you can watch the full exclusive interview tonight on big decisions, at 9:30me. let's get -- let's get you to the bloomberg business flash. musk likely to face a national security review for any proposal to take tesla private with financing from saudi arabia. just this week president trump signed legislation that expands the government's ability to invest or block foreign takeovers. since the president took over, regulators scuttled about a dozen transactions on national security grounds. haveares from chipotle fully recovered from a downward spiral from last summer and bottomed in february. analysts are taking no, -- taking note. shares of chipotle are of 80% this year. snapping upe clothes and heading to restaurants in the month of july, retail shares rose more than expected, more than half of 1%. the data suggest that consumer spending is still driving economy early in the third quarter. that is your business flash update. >> coming up, why go to a casino went etf have more action you can handle. we slain the risks, next. from new york, this is bloomberg. ♪

tired markets, free education, politics and the economy billionaire investor, philanthropist ken langoneoins us to talk about that and more. >>> plus tariffs hit home. we are live at a company that is feeling the pain it's already laid off a third of its workforce. "power lunch" starts right now

jon: good for those students and good for ken langone., a brand new episode of watters world. you can catch it here on fox news channel, 8:00 p.m. eastern. here's jesse with a sneak peek. >> talk show host alex jones banned from pretty much everywhere. we're going to have a special report. plus the media defending ms 13 and antifa. watters world tonight. ld in a d. and the bandits, well, they got rocks. we protected your money then and we're dedicated to helping protect it today. like alerting you to certain card activity we find suspicious. if it's not your purchase, .. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. p3 it's meat, cheese and nuts. i keep my protein interesting. oh yea, me too. i have cheese and uh these herbs. p3 snacks. the more interesting way to get your protein. i've been making blades here at gillette for 20 years. there's a l

jon: good for those students and good for ken langone.brand new episode of watters world. you can catch it here on fox news channel, 8:00 p.m. eastern. here's jesse with a sneak peek. >> talk show host alex jones banned from pretty much everywhere. we're going to have a special report. plus the media defending ms 13 and (video-game dance music) (burke) abstract accident. seen it. covered it. we know a thing or two because we've seen a thing or two. ♪ we are farmers. bum-pa-dum, bum-bum-bum-bum ♪ ...most people. but on the inside, i feel chronic, widespread pain. fibromyalgia may be invisible to others, but my pain is real. fibromyalgia is thought to be caused by overactive nerves. lyrica is believed to calm these nerves. i'm glad my doctor prescribed lyrica. for some, lyrica delivers effective relief from moderate to even severe fibromyalgia pain, and improves function. lyrica may cause serious allergic reactions, suicidal thoughts or actions. tell your doctor right away if you have these, new or worse depression, unusual changes in mood

grossman and ken langone who you know well, they have been planning this, a lot of donations. headline is it's going to lead to a recovery of primary care medicine. doctors can say now i can do what i want to do instead of coming out of medical school owing hundreds of thousands of dollars saying i better do dermatology, radiology, ophthalmology. we have a tremendous shortage here. this is a great step and other medical schools are going to follow. stuart: it's a wonderful thing. let me get this right, you qualify to get in, you get in, it's tuition free. >> it is tuition free, covered by endowment and loans. of course alumni are going to give money, look, you started me on this career and i give back. completely free now. stuart: dr. siegel, and you ken langone, congratulations, it's a fine, fine thing. >> great for the medical field. stuart: excellent company. >> stuart, those are my mentors. stuart: thank you very much. >> thank you. stuart: dow is up 84. did you notice? more "varney" after this. ♪ . . stuart: look at this. crept up on us. we're over 100 points. why is that

roshni raj, "today" contributor from langone medical, here to help us sort it out. >> yes. >> hi,here found the rosetta stone. >> right. we're talking not really about weight loss per se, but longevity and mortality rates. and this is a large study that compared low-carb, moderate carb consumption and high-carb. and it actually found that the moderate, so about 50% of your calories coming from carbohtrates is the b for your overall health and for your overall life span and longevity. ngso, we're tal about things like heart disease, cancer, strokes, all of these causes of h seem to be reduced if you have a moderate, not a low-carb intake. now, why ithat? that's because most of the people that are on the low-carb diet are hoplacing carbs with unhealthy things. >> ah. >> particularly animal fat and animal protein. >> fat, right. what we're learning from this study, and really, most of the studies coming out now, the plant-based diethe best thing to do. >> so, it's all about replacing those carbs. >> correct. >> so, let's talk about what we have here and why these options, some of them ar

have already actually raised $450 million and a big chunk of that has come from none other than ken langonecofounder of home depot. his givens 100 some million dollars. by the way cost 55,000 a year to go to nyu. last year the average student graduated hundred and $84,000 in debt. this is a big help! on top of that, the bad thing about this is that they still have to pay for room and board which is $27,000. that is nothing compared to what it would have been. eric: increases the number of general practitioners around the country, that is a very good thing. thank you. arthel: a celebration about a hula hoop. the near times reporting the white house counsel, don mcgahn is speaking extensively to special counsel, robert mueller. a live report of what the discussions may entail coming up at the top of the hour. stay with us. belly fat: the chili pepper sweat-out. not cool. freezing away fat cells with coolsculpting? now that's cool! coolsculpting safely freezes and removes fat cells with little or no downtime. and no surgery. results and patient experience may vary. some common side effects inc

ken langone gave $100 million. these are people who want to support the best and brightest.nked school last year. it's not like they need to draw more people in. the idea of getting people who have are going to take care of us when we're sick get the best trained possible. rachel: could you just increase it to 10 percent and get it that way. more doctors choosing to be primary care. >> great point. we are entering a time personalized healthcare great discoveries immune know therapy. i don't want we want to broaden the people that are allowed in. rachel: okay. >> i want people that want to be doctors to be able to be doctors but i want the best and brightest. rachel: this program is helping free them up to make the right choices. you have say some of president trump's policies can actually be helpful in getting more of the doctors that we need given this shortage. >> because a lot of the stress here and again dean grossman talked decreasing the stress getting rid of the tuition. applying for insurance reimbursements. what other profession do you deliver the service, potential