taylor: like you mentioned, larry ellison, so talk to me about that deep leadership bench , which is they were insulated from this given how many people can be in charge there. nico: you have these three people from all fascinating with different back stories. they set up the structure five years ago in 2014, and mark hurd has been with the company for nine years this month, and the idea is mark hurd, this consummate salesman, could oversee the sales organization from a marketing, a few business units -- organization, marketing, a few business units, back-office things, legal, finance, human resources, and larry ellison overseas product and technology, so the idea is leveraging the strength of these three people, but over the last year they have made some changes in that larry ellison took away mark hurd's oversight of the marketing department and put that under his own control, having his own chief of staff, as well as an outsider he brought in, manage a lot of oracles -- oracle's marketing efforts when he thought the brand image was languishing. taylor: outside the leadership chang

cfo, among other roles it's not hard to imagine how she and larry ellison will move forward.er went away despite his other interests, he has headed up the technical side and while his direct reports have come and gone, now running google cloud over at google, the company continues to perform in a way that investors would like. you see its near its all-time highs and continues to move along in the process of continuing to reorganize itself in the cloud era, whether that has to do with acquisitions it's made, including net sweep a few years back to fill out its applications business or the latest thing it talks a lot about the autonomous database, putting together its database in a way it argues will allow it to keep ahead of others who are challenging it the bench here is deep this isn't the first change they've had. it's the most significant they've had in a while, wilf. >> jeff, jon brings up a good point, names we all know very well still the stock falling 4% in reaction i don't thichink that's on that early earnings release does this sort of suggest to you it's uncertainty

most my reaction first and importantly is, as larry ellison, a speedy recovery for mark. s in my thoughts and prayers. if you really think about the team of larry ellis -- larry ellison, they work more effectively than anyone envisioned a three some woodwork. larry and safran worked together for 25 years. i know all three of them very well. safra is world-class off the charts. larry has always been involved in the engineering side of the house. i think they will never -- i think they will get through this. i don't think they will have issues at all. they have a deep company, and a lot of capabilities. as i said, larry and safra are world-class leaders that are very actively involved. my thoughts are with -- are with mark for a speedy recovery. taylor: talk about your relationship with mark hurd during cisco and then his time at oracle. how was that relationship? with the relationship oracle and hp have always been very strong for me. i have a lotf ence in hp. they helped me when i moved out to silicon valley, to understand the valley when i only had 400 people at cisco and

>> well, let me start with a little context on larry ellison.known in silicon valley as being a real company. it makes complicated technology, and it sells it at a profit. it doesn't grow very quickly, but it makes a lot of money. uber has a business. it is not fair to say that just because they don't have cars they don't have a business. ebay never had any merchandise and they made a lot of money, have made a lot of money over the years. as for whether anyone can build it, well lyft did, but no one else did. i think he's being a little harsh, but that's who he is. >> is he short the stock? i mean, i can't -- it just doesn't make sense, why he's so harsh and maybe he's we -- with elon musk, when their car comes out they will eat uber alive. >> they are still not profitable. a lot of people are asking me should i buy this company? i can't tell you what to do. the company doesn't make money. when do you see on the time horizon that they are going to? there is a lot of competition out there and the service is not that great. there are a lot of time

he weighed in shortly after the announcement. >> my reaction first and most importantly is, as larry ellison, a speedy recovery for mark. he is in my thoughts and prayers. if you really think about the team of oracle, they work more effectively than anyone envisioned a threesome would work. larry and safran worked together for 25 years. i know all three of them very well. safra is world-class off the charts. larry has always been involved in the strategy, the vision, the engineering side of the house. i think they will navigate through this one. i don't think they will have any major issues at all. they have a deep company, and a lot of capabilities. as i said, larry and safra are world-class leaders that are very actively involved. my thoughts are with mark for a speedy recovery. taylor: yeah. talk more about your relationship with mark hurd during cisco and then his time at oracle. how was that relationship? john: the relationships with oracle and hp have always been very strong for me. i have a lot of confidence in hp. they helped me when i moved out to silicon valley, to understand the v

one of the original lions of silicon valley's internet age, larry ellison of oracle, torching the young whippersnapper names that are recently dominating the startup stock scene. up next, the market guru who lives and breathes all things millenial is here next on which companies are the real new economy rock stars and which stocks are just part of the hype machine no investor, young or old, should buy into. grizzled thomas george, next when a jam-packed "the claman countdown" returns. as a struggling actor, i need all the breaks that i can get. at liberty butchemel... cut. liberty mu... line? cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ liz: never one to mince words, silicon valley lion and oracle founder larry ellison has come out swinging at uber and wework, essentially calling these names q

oracle chairman larry ellison an safra katz will cover hurd's responsibility during his leave.pany mad the announcement when it releaseun earnings late today, a day earlier than expected. oracle earne 63 cents a share just about in line with estimates. revenue of $9.2 billion was slightly below expectations. the stockxp fell in initial aft hours trading. >>> there are knew developments tonighte settlement negotiations with oxycontin maker purdue pharma. the arizona attorney general says that nearly half of all 2000 local governments have reached tentative settlement with the company over its role in the opioid epidemic. according to reports purdue will pay up to $12 billion and the sackler family that owns purdue will give up control of the company. this is essentially the same offer the sackler familyad to all parties involved in the litigation but many state attorneys general remain oppose ds to the deal. a court trial is still set for next month in ohio. >>> a new jersey jury found johnson aen johnson liable for $37 million in a trial related to its talc powder. in the trial

larry ellison came out and called wework "almost worthless." your thoughts?ard to rationalize a business -- this is really the investor pushback -- for every dollar of revenue, you lose $.50. i think it comes down to the business model where you saw the pushback in the street. it is a black eye for them. it really comes down to they become the poster child for investors waving the white flag in terms of what they will and will not like in terms of the ipo market. you have seen strength in xoom and beyond meat and many others, but the business model continues to be the issue for investors. taylor: push the story forward for me. what is the biggest headwind in the coming months -- government issues or financials? max: it's funny that people have been talking about these governance issues for a long time, but there's nothing like an imminent ipo to kind of focus everybody and get everyone to pay attention. i've been surprise. they have made a few changes and do seem to be taking this seriously. you are seeing this conversation about doing some sort of private fu

on back of entrepreneurs, in our country we have oprah winfrey rising from poverty, jee steve , larry ellison lauren they came up from nothing. can you tell us what is the key to your success? >> i think key to success is actually same key to every immigrant who came here and accomplished more than i, had is hard work, and for fil fertile , that allows you to plant seeds and grow trees, a country based on incentive, it allows you to try, fail, keep trying, not stop trying, that is why today all up no vagues from the country because -- innovation from the cuthecountry because people can, but you have to a culture that allows you to fail and fry again. elizabeth: what concerns you most out of dc ? >> actually concerns me today, how divided the country is, and concerns me how much i hear about what is wrong with the country, and reason i go on program like this, or go to public speaking to remind people, what is right with the country. there is more that is right with the country than there is wrong. it seems right now everyone wants to fall on negative. in order for us to show each other who'll

. >> meantime, kara, larry ellison reportedly calling out we work and uri uber at his house. worthless. blasted uper's app saying they have an app my cat could have written. why is he stepping out like t s this i think hess like that sayst what's on his mind he's voicing what a lot of people say, there's challenges to uber's economics. math is a problem for these companies. both are great brands. his point i think in a larry ellison style using a cat as an examp example, this stuff isdefensible doesn't have motes like oracle although they're under pressure with cloud and everything else >> it's interesting because rosengren of the fed brought up we work today as a major concern potentially for an economic risk i think there are a number of different people in high profile positions start tog scratch their head at what's going on with it and the ripple effects that could cause these companies that may be promising but aren't ready for prime time for investors it's one thing if soft bank wants to throw money down a hole or go public and voice this stuff on investing public. and

we also understand that a sela coat ceo along with the chairman and founder larry ellison will take overponsibilities, including overseeing sales. what we learn from the first quarter results is that sales are still sluggish. they came in lower than had been timad. we look at for your revenue growth over the past few years. it has been sluggish. total sales hovering around $40 billion for much of the past few years. analysts say this earnings report shows that sales growth remains elusive. he also says his departure represents some execution rest. the key is you facing -- the key issue facing oracle is the shift to the cloud. sales growth coming in pretty much flat. of course the company rather blind-sided by the strength of the competition from the like of amazon web services, from microsoft, and from ibm. that is your stock of the hour. vonnie: coming up, "balance of power." david wtin will be speaking about fund -- a potential financial transaction. transaction. mario draghi said early on there was no need for a vote on the question of resumption of qe, now we are learning he had plen

not specify what issues hurd faces were how long his leave will be, but the executive chairman, larry ellisonased a statement saying, "oracle has an extremely capable ceo ending the extraordinarily deep team of executives, many with long tenure at oracle. we will cover marc's responsibility during his absence with support from the rest of our strong management team." i spoke with our bloomberg senior intelligence analyst and global executive editor tom giles. >> as far as his leave, there have been signs over the last year that he may not be unwell, so what was not expected was the announcement today. because they hadn't announced up until now, there was a question about whether they would and whether he was getting well or not, so it took us a little by surprise, the timing. taylor: i want to bring you in, you heard larry say that he will take over. does this change the direction of the company? >> no, it doesn't. oracle is a very stable business, and a very large applications business. the key risk for oracle, the key story for oracle remains how soon they can get database customers on to t

the urge to grow microsoft in the urge of larry ellison to grow oracle and all those other people paid google has created thousands and thousands of jobs. it is entrepreneurship. and it's listed everyone up. so the inequality, great, if you want to be russia back in the 1940s, go ahead. >> i think you two are missing the point on what is politically going to work. let's move on to the question of healthcare, there were a lot said about that. let's have a listen. >> medicare for all is a most cost-effective approach to providing healthcare for every man, woman and child in this country. >> i support medicare for all and i want to make the plan better so under my plan people have the choice of a private or public plan. >> it cost $740 billion. he does not cost $30 trillion. how are we going to pay for? i want to hear that tonight. >> to think any of these are valuable options for americans and most important american voters? >> it's a most cost-effective way to destroy america. it should go back to the income inequality. i think if one of them said the obamacare thing was pretty good but

david: meanwhile, tech billionaire larry ellison calling uber quote, almost worthless. have a point? >> i do not think so. he's talking about they don't own their employees, they don't own the cars. that's the beauty of uber. they don't have that capital tied up. to the extent that other states follow what california has done, they will own those drivers a little more. remember, larry may be talking his book a little bit. he's on the board of tesla. he's working hard for autonomous driving. it's a horse race going on. david: they have lost $20 billion in market cap. ashley: he says they are going after more business, a business that's not profitable. he says it makes no sense to try to gain more business that's not giving you profits. david: then there's gm. the strike is still ongoing. we can't forget about that. there is now a lot of collateral damage in the economy because of that. gm is making an effort to end the strike with united auto workers, promising 5400 jobs, $7 billion to the workers. grady trimble is in detroit. what are you hearing from the workers on thi

larry ellison and katz will cover his absence separately.ny posted a 5% fall in quarterly profit. connell: to the gop victory in north carolina. congressman-elect dan bishop giving credit to president trump after his special election win in north carolina's 89th congressional district. >> i was only in the race for six months to someone in it for two years. we were only competitive in terms of funding for about six weeks. the president and vice president stepping in, committing the way they did to this race was tremendous. connell: bishop won a close race against the democrat dan mccready. the seat has been held, now continued to be held by republicans since 1963. melissa: elizabeth warren making her position clear. listen to this one. >> i want you to know where i stand on this it is time to get rid of the electoral college. [cheers and applause] melissa: such a great idea. what happens when we let california elect our president every single time? let's bring in bill mcgurn from the "wall street journal" he is also a fox news contributor. t

a leave oftaking absence for health-related reasons, and larry ellison in the co-coo oversee his responsibilitiesend of the quarter, but now he needs to focus on his health and taking care of himself. the three of us have always worked as a team on managing oracle. larry and i will cover mark's responsibilities during his absence with support from the rest of our strong management team. uber and lyft gained with the news the governor of california is open to legislation exclusions. kevin newsom is personally involved in discussions with both companies, saying he remains committed to talks. paul: cathay pacific says traffic has fallen the most in a decade as it struggles with the fallout from the unrest in hong kong. they carried 2.9 million people in august, a drop of 11% from a year ago, and the biggest fall since 2009. some staff supported democracy protests, propping beijing to warn against using the airline. shery: yahoo japan is near a deal, stepping up rivalry with amazon and others. yahoo! is planning to buy more than 50% of the company, with the support of its founder. oft company has a m