loeb's activism, given the recent successes that the company has had. the company, you know, believes that challenges are ahead. but also believes that it's confronting those issues, i'm told. and i'm also told that, you know, sotheby's was pretty surprised when loeb turned down their offer to join the board. remember, they did extend an offer for loeb to take a board seat. he wanted three board seats. he turned their their offer. they were surprised by that. and someone on sotheby's board believes that loeb could have made a positive contribution in moving forward here. this is an interesting, new development here. and we'll see where it plays out from here. but at least it gives you a little color on the sotheby's side of the story, as loeb takes his next bunch in a delaware courtroom. >> scott walker, thanks for phoning in. >>> let's look at twitter here. kicking off our top trades with the stock down 15% of its lockup in may. more than 470 shares will come to market. >> i bought some in the low 50s. it hasn't worked out the way i thought it would be

and dan loeb write a check. icahn found out that dan loeb had beaten him, he let loose with one of the ethically -- with an epic tirade on one of the developers, cussing as if he was in vietnam in 1968. >> let's move on. denzel washington, a hollywood actor. >> he is one of the poor people in the building. his apartment only cost $13 million. and he only -- and he got a discount, because with a nod and wink, he allow the developers to say that he bought an apartment in the building, which was one of the big turning point. new york is always about co-op apartments. co-ops or clubs that don't just let anybody in. and when you come down to who is the worst, people of color and actors. they announced to the world this building is different by announcing denzel washington had brought an apartment. >> and it is different, because jerry yang, cofounder of you who, also bought an apartment. how does this coterie of people find something like a 15 central park west? >> it is something i liked compared to a dog whistle, t

but daniel loeb is different.e of the in-your-face nasty stuff nasty stuff and doing it with this from what i understand. here is the thing. i will tell you this, we did a story on friday, a so it what a monday about the activist investor. we did this story on friday about how the sec may look at these activists tactics. he was supposed to come out today with a big story about herbalife china operations, how they are pyramid scheme. the stock went up when he started speaking but between the tactics, it is clear that regular readers are getting a lot of complaints by corporate board members telling the sec this is what the corporate board is saying, these guys are essentially extortionists. try to force the stock up by getting rid of stuff or destroy the company in the terms. they were just adding to the marketplace of ideas. liz: charlie, thank you very much. don't scream at me. send flowers anytime. the correct term is assistant. charlie: i think flowers and chocolate would have been better. the guy is a billiona

loeb hedge fund marcato shareholder have been pushing for change at the auction house.heby's has taken some action increasing its share buybacks and announcing plans to split its auction and financial services businesses. checking sotheby's shares which, of course, have the iconic ticker bid, it is down about 3.2% at this hour in germany. melton pelt meantime is once again blasting pepsico, demanding that company demand details on its operation and corporate strategy. they have been calling for pepsico to split its struggling drinks unit from its flourishis frito lay snacks unit. peltz has been calling for a strategy and it's argued selling both drinks and snacks together gives the company clout and weight with retailers. a spokesperson says pepsi's board believes peltz's proposal will not maximize pepsi's value. shares are flat and slightly to the down side at this hour. john donahoe is saying carl icahn's campaign to get the company to split off paypal will only get louder. ebay and icahn have been sparring sometimes on a daily basis when icahn went public with this m

we have calls into bill ackman, dan loeb declined to comment, it was a private event.e should point out this still according to people in that room robbed him of a wrong way. as a point of comparison he spoke about bill deblasio during this, the mayor of new york who is against charter schools, private refunded private schools that a lot of rich people in the city fund in poor neighborhoods, bill ackman -- excuse me, loeb is a big proponent of those but even there, he was softer on bill deblasio. according to people who were present. liz: is that why he jumped in? just to take the other side? >> i think so. you would be -- >> i used to talk to a scream a lot, one of the greatest investors, aced never held grudges. and he went into the trade and moved on. what is interesting about dan lowe and bill ackman they told grudges. action wants to kill herbal life like it is the greatest thing -- he wants to get back at bill ackman because of this loss in 2007-2008. liz: bill ackman shed tears over target when he couldn't essentially change what he wanted to make. >> he shared

loeb's campaign getting some support here from another activist investor. keep us up-to-date on some new developments. their shares are trading somewhat higher. >> the west is beginning to get a plan together in ukraine. john kerry is scheduled to sit down with russia's foreign minister. ryan chilcote is in tf. -- in kiev. >> i think we do expect him to threaten t secretary b with thoe sanctions. with thosey lavrov sanctions. talk -- theen threats of sanctions can be as powerful as the sanctions themselves. two things to think about -- since the u.s. started talking about sanctions, a couple of things that happened. yesterday, we heard from president putin for the first time in public comments talking about the crisis. saying that he was not going to escalate this crisis. it did not sound like you would send troops into eastern ukraine. event that i would point out is, kerry today talking to lavrov. he had a multilateral meeting with the u.k. in france and he wanted lavrov and russia to attend. they said they would not go to that meeting. that would be a di

dan loeb has apparently filed suit against sotheby's regarding its adoption of a poison pill.s seven -- his 20% stake in the bees and sotheby's and hadn't succeeded because of the poison pill it adopted. and now is saying it was justified just for the reason it are seeingg now, we loeb trying to take a bigger stake in the company and take more control and make changes. loeb's third point is suing suingies over this -- is sotheby's over this issue and the rule is valid. and sotheby's is saying the rule is valid. for the seeingw -- the scene. we bring you disney, digging deep for a digital push. the company will shell out at least half $1 billion to purchase maker studios, the top channel on youtube. it has 380 million subscribers. and fromaul sweeney los angeles, jon erlichman. this is a big deal. because it's a billion dollars. a billion disney has dollars in last nights jeans. but it's just a youtube channel. i don't care how many subscribers it has. a billionyou pay dollars for a youtube channel? >> we know that our viewers, whether on an abc television network or cable netw

we've got dan loeb who over the years has been a brilliant investor. i don't think you can go against them. they will get their way. >> raising quarterly dividend by 20%, 33 cents a share. stock is up 3%. >> yeah. and so i think this is a good move for them. good use for capital. remember, the story behind the scenes here, the company had a tough time, down a lot. they had a major pullback off the highs. in the past when the stock has come down like this you've always heard talks of takeover rumors out there. i think that could help here but i think the company is doing a good thing using their capital wisely. >> drink up, doc. topping estimates on the top and bottom, stock is at an all-time high. >> billion dollars in sales, billion dollar plus in sales, judge. up 5% year over year. the stock explodes to a new high on the year. but take a look at 2012. it was almost $100 a share. it's a big move today. could it go further? well, i believe it can. >> all right. coming up, it's morganne versus courtney in a sector smackdown. we're talking health care ve

the video games -- no offense to tony -- it's time to kick back like investors bill gross and dan loebs eddie stern. he stopped by to tell us how to find that inner peace. >> everyone likes to reset their button every once in a while i'm a perhaps everyday to connect with themselves and find some sense of inner quiet and inner centering and reboot their perspective on the life that they have every day. >> if i look at the list of common yoga and meditation practitioners in the business and finance community in the political community -- people like bill gross, steve jobs was interested in yoga -- we talked about than loeb, one of your students. these are incredibly intense people. do they need yoga more than the rest of us? >> no, they don't need it more than the rest of us. they need at the same as everyone else. all the people that you named are intensely creative people and people who are visionaries in their field as well. what happens with yoga is when you get quiet and reset your perspective backing yourself everyday, you enter into a frame of mind that looks at things from a dif

. >>> still to come, dan loeb is suing sotheby's to remove a poison pill. we've got all the details, coming up. >>> recap of the headlines today, facebook breaks out the wallet with a $2 billion purchase of a virtual reality headsetmaker oculus. >>> management shake-up, rupert murdoch's sons promoted at news corp. >>> and candy crushmaker king prices its ipo in the mid point range amid fears a follow-up success could be tricky. >>> now, 2013 was a record year for hedge funds. global assets increase by 17% to 2.6 of trillion dollars. this year, it could be more of a struggle as emerging market volatility make the search for yield ever more elusive. last night, the investors choice hedge fund awards and ask them about their biggest concerns. >> russia is one for sure, which i think is not priced fully into the market. but you're seeing elements develop in asia why and in china in particular with growth slowdown coming from china and response to stimulus, which has been fairley mild so far. and so if china, chinese growth was to slow down, you're starting to h

. >> i think i have to talk about dan loeb. wanted to sing to dan because dan and i i, i think we have some stuff in common. we both have very bad tempers. the only difference is i don't scream at secretaries and buy them flowers. liz: you just scream at the secretaries. >> you know what happened, he got slapped down yesterday as you know. sotheby's came out and said, no way, jose, we don't want you on the board. and all i have to say is roses are red, my love, violates are blue, sugar is sweet but not as sweet as you. liz: i thought you were going to sing it. >> oh. [laughter] >> i wasn't singing? liz: because he sent flowers -- ♪ roses are red, my love, violates are blue -- violates will blue, sugar is sweet, dan loeb, but not as sweet as you. ♪ [laughter] [applause] yes, he sent flowers to to the secretary of the board member after he screamed at her. liz: sent the wrong color of flowers, according to you. >> do you think he'll call me back? liz: i would hope he does. >> after that? liz: you would give him a fair shot. we ha

only icahn wanted to, and dan loeb brought a check. icahn went ballistic, dropping f-bombs. >> i can't imagine he would do that. >> me neither. >> it boggles the mind. emplgts he did it to me when i called to ask about it. >> it isn't just hedge fund types. it's people in media, people from around the globe. tycoons from dubai and london, russia and so north. we have arabs, palestinians, people from google, yahoo!. >> a-rod live there? >> a-rod was a renter. the celebrities in this building are kind of the lesser -- >> sting. >> denzo. >> sting has a good apartment. denzel has a cheap apartment. $13 million at. >> did people like a-rod? >> he hated it. he was considered a douche by the staff, because hi mistreated people. he had some nasty habits that they took note of, and they were willing to tell me about it, because he was so rude to the staff. >> what did a typical doorman get in tips at holiday season? >> the lower members of the staff walk away with about $22,000 cash at christmas. it goes up into the six figures for people who

they see what, for example, and more recently since august daniel loeb attacking -- >> sotheby's.tack by carl icahn. >> mr. peltz attacking pepsico. i mean, he took a fairly small position in pepsico, it's a big company. ge's a big company, too, $250 billion market cap, but peltz wants to break up pepsico. apple is a huge company. what's the market cap there? it's huge, right? and carl icahn took a stake in it and prodded management and got them to do a bigger buyback than they wanted. so activist investors do have impact. we should point out a lot of companies say they're disruptive, and they point to, clearly, bill ackman, how he paid lobbyists to, essentially -- liz: yeah. it takes their eye off the ball, you have to focus employers, i think ge's smart to be taking this, and a lot of folks have the this stock -- >> it's one of biggest stocks. liz: very widely held. >> it's on foxbusiness.com. liz: charlie gasparino. >> my father once said st. patrick was italian. take it from the source. [laughter] liz: roman, aha. [laughter] thank you very much. closing bell ringing in 28 and

everybody else, you talk about black men, dan loeb -- they have all -- you talk about bill ackman, danve all evolved and what you are seeing now is less and less are below going to take public profiles because -- >> turned to the media -- >> yeah, turned to bloomberg, cnbc, "new york times" -- >> what about holding a press conference? >> bill control that press conference. he controlled all of the information that one out because it was his press conference. >> there are tactics on how to work the company. you have to work for both to understand that you are supposed to be close to your friends but you better be closer to your enemy. if the board is prepared to engage, if you pick a very ackman,tive, bill procter & gamble -- he engaged discreetly, behind closed doors, two senior independent directors, and had an enormous impact on the way the board thought about procter & gamble. there was no trumpeting on the front page. if someone tries that strategy and the board tells them to buzz off, then i have got to go to the shareholders, to the analyst community -- >> kind of david einhorn s

make a case why people like carl icahn or dan loeb are working on behalf of shareholders and for the best interests of the company. >> well, first of all, i do disagree. i think in general corporate management are more focused on doing what's good for the corporation as a whole than shareholders as a whole. and i think activists are checks and balances on corporate management. if they return money to stockholders, who's benefitting? it's benefitting the economy because that money is then redeployed into private equity, venture capital, new businesses and so forth. if a company isn't efficiently utilizing their assets, someone else should more efficiently invest those. without activists, if there's no checks and balances on corporate management to do that. >> so don, do you think -- the real criticism here is the activists act for short-term purposes, i.e. to return capital in some cases to their own pockets in the form of stock buy backs or dividends, and that it might not be in the best long-term interest of the shareholders. and that's what larry fink was driving at. address that s

. >>> the activist defendanter dan loeb of third point sues sotheby's to remove its shareholder plan.ims their poison pill which put a cap on how much his firm can own limits his efforts to shake up the company's board. sotheby says the poison pill protects existing shareholders. shares of sotheby's up slightly to $43.07. >>> tesla, pandora, yelp have seen their share prices stall. does this meantime to sell or dive in? dominic chu takes a look. >> reporter: there's an old saying in the trading world. the trend is your friend. momentum stocks take that concept and magnify it to a whole new level. so what are momentum stocks? btig chief global strategy dan greenhouse says momentum stocks are the ones that have high growth expectations built into their price. value investors tend to stay away from them because they don't like buying stocks at high prices no matter what the growth expectations are. graywolf execution chief technical analyst says it's even simpler. it's how far a stock moves up or down in a certain period of time. the greater the price change, the higher the momentum. man

job, as dan loeb and carl icahn came to herbalife's rescue, the stock battle back.ederal government opened an investigation into herbalife and the stock has fallen. the news from carl icahn has sent the stock back up. you were over herbal life goes on. dwayne stanford explained it to "market makers." >> these board members all come enterprises. to our executives with the company and the other is a n enterprises.cah he is beefing up his visions 5 on the herbalife board. this comes as bill ackman has been able to get this investigation he has called for, the ftc now looking at the company. the stakes have been raised and we are going to be in for quite a battle. you were reporting that after a year of losses on the short bet against herbalife. might be near break even, no longer losing money. >> that is right. based on our catchy lay-ins, he is somewhere near breakeven. a lot of that coming in the last week as the ftc says they are asking for more questions of the company. it creates uncertainty among investors. a considerable amount of scrambling as people tried to f

residents include the chief executive of goldman sachs, lloyd blankfein i'm them as well as dan loeb.will take a look at the one of the worlds most powerful addresses. plus, a product designed for nest executives. plus, the perfect suit design for you.

sony is under pressure from dan loeb. last month, the company aimed at $100 million in cost cuts.ony pictures fell more than 4%. >>> now, disney holds its annual shareholders meeting at 1:00 p.m. eastern. no major fireworks are expected, unlike last year, when 35% of shareholders voted in favor of a proposal to split the chairman and ceo rules. disney recently extended the contracts through to june 2016. the stock is up nearly 150%. since co-founder jack dougherty joined the board. disney stock up about 1% in frankfurt. >>> still to come, the clock is ticking for americans to sign up for health insurance. two weeks ago, obamacare hit another major milestone. we're going to run you through the numbers. the numbers. thing looking good. ♪ velocity 1,200 feet per second. [ man #2 ] you're looking great to us, eagle. ♪ 2,000 feet. ♪ still looking very good. 1,400 feet. [ male announcer ] a funny thing happens when you shoot for the moon. ahh, that's affirmative. [ male announcer ] you get there. you're a go for landing, over. [ male announcer ] the all new cadillac cts, the 2014 motor

investor story so when you get names like carl icahn and george soros we should also mention daniel loebinto sony. that was a big one. dow chemical right now is in the cross hairs of activist investors. >> that is one i don't know about. liz: and a chemical company. those are very much in the forefront. >> it makes sense the sec would want to know about this. there is a degree, a lot of stuff going back and forth. when they start looking at people expressing their opinions, that often has a sort of quieting effect on the opinions and what is great about the market is to get out and talk about things, to tell ebay we things you are not doing the right things, ebay could come on our show and say the ceo is full of it and goes back and forth and at this point over a long period of times the prices are perfect in the long run. the market settles. liz: daniel lobe of third point. and what might be catching their eyes it would be herbal life. >> that is the opinion. liz: you think that is because black men jumped in and said negative things about the company and none of that has been proven? d

our colleague here at abc news, sam donaldson turning 80 today. >> singer lisa loeb turns 36. >> actorit's your birthday >> announcer: this is abc's "world news now," informing insomniacs for two decades. informing insomniacs for two decades. when i have an asthma attack... i feel like a fish with no water. learn how to prevent your child's next asthma attack. because even one attack is one too many. >>> making news in america this morning, missing plane mystery. new developments overnight in the search for the passenger jet that vanished as families grow more frustrated. plus, breaking news about the passenger who used a stolen passport to get on board. >>> health scare. an nhl game is stopped after a player collapses on the bench. new details about what happened and his condition. >>> path of destruction. new video shows this morning just how damaging an avalanche can be. >>> and awkward ending. the bachelor makes his pick, and it is a finale unlike any before. even nonfans of the show are talking about this one. >>> good tuesday morning. i'm marci

some breaking news now on dan loeb. kate kelly, what's going on?ks so much, bill np in a suit just filed in delaware chance ri court, the activist hedge fund third point run by dan loeb is suing directors of sotheby's for a poison pill implementation they have recently made. thirdpoint sought to increase its ownership in the company up to 20%. was rebuffed by sotheby's. they're saying sotheby's is inappropriately interfering with their rights and they would like to seek injunctive relief in delaware. they note in the lawsuit just filed that this has never been before decided, this particular issue, by the delaware court system. it will be an interesting one to watch for sure. >> a new wrinkle in the age of the activist investor. thanks, kate. >> thank you. >> keep us updated on that. kate will be joining us coming up at the top of the hour here on hour two of "the closing bell." we're moving higher with seven minneapolis left in the trading session with the dow up 107 points. joining me is oliver portia. welcome back, sir. >> thank you. >> this mar

sotheby's, responding to the lawsuit filed by activist investor dan loeb saying the shareholder planeseen i'd to make sure all shareholders are treated fairly. filing suit yesterday. weiss questioning the legality of the poison pill. >> apropos of our discussion earlier. he's a great activist. anthony has a big investment. has done quite well with him. to me when you put a shared to rights plan you're saying we're entrenched, we're staying there, see you later. no reason to have it. sotheby's management has to go. >> plug power continuing the wild ride. the stock pulling back after surging nearly 50% yesterday after the ceo talked up an order with a global automaker. joe? >> that apparently a couple weeks ago he had already mentioned. so the story on plug play for me is stay to the sidelines unless you have the ability to stay on your computer and not go to the bathroom and not take your finger off the keyboard. it is concerning to me the ceo has to correct his comments in the media one day later. >> pvh is popping despite swinging to a fourth quarter loss on acquisition charges. yes

normally, when we think of activism we think of how icon, dan loeb, and others. we do not think of sam zell's. he is considered the godfather of the real estate investment trust. he said the industry, its reputation is at stake. betty liu has the details, because she has been speaking to mr. zell. who has gotten on his bad side? >> it is these two. let's pull up the picture of both of them. it is adam and his father, barry portnoy. a real of them run estate investment trust. the $6 million fund has office properties all over the u.s., one in philadelphia, by the way, the one in millon center. there is a shareholder fight. activism is very uncommon in the real estate world. >> why is that, by the way? >> you would like to think they are nicer. owners have been in the business for decades. it is a gentlemanly type of -- trust me, it is ruthless as well, but in terms of outsiders coming in and trying to oust the board, which is what is happening here, that is not very common. basically, zell has teamed up with jeff blau of related, and keith meister. and by the way,

. >> and the competitors, and dan loeb's complaints? >> well. >> thank you. arlan ettinger.ll take a quick break and then #happy birthday. can you believe twitter is turning 8? we will look at some of the first tweets from betty and from me. turkey is not celebrating twitter's anniversary. the prime minister and residents from -- banned residents from tweeting. stay "in the loop" from new york and san francisco. we are back after this ♪. >> it is time for him bloomberg -- it is time for bloomberg's big number, 74 million, and one of the turkey residence has been banned from using twitter. tweets were from anonymous users that make documents and audio files related to an investigation. twitter reacted to the news by encouraging users in turkey to send tweets through text messaging. still with me is trip hawkins, electronic arts founder and now ceo of if you can. you know what it is like to leave a company, like apple, and make the leap to start your own company, which is electronic arts, which became and still is a successful company. is exactly theh kind of career path i fea

dan loeb has been in the trade. quest carl icahn is still in his far as we know.arl icahn and bill ackman did -- do not like each other. herbalife beyond just at this point. quest george soros also. quest there are a lot of big names. it has not gone particularly well for bill ackman. so far. >> not. today may be a turning point. quest spends a lot of money lobbying in washington. the ftc opening up inquiry into this. what might they find? what is he hoping they find? >> i do not know anything about the company more than i read. phil akerman's you is this is a pyramid scheme and should be put out of business. that its stock should trade 20. he has that it will go that way. he has been pushing for the last 16 months to see if he can make it happen. it has not worked yet. the stock has gone in exactly the opposite direction than what he hoped it would go. he has lost hundreds of millions of dollars. he hedged out some of the rest of his position. who betrman is the guy against an bia for seven years and everybody told me was crazy and he was right and he stuck with

a lot of them are very wealthy already, guys like john paulson or dan loeb. to make more money. they are doing it because they are competitive. >> they are addicted to it. >> to the drive of outperforming the next guy. >> on a daily and hourly basis. >> if you are too focused on the day today, you're going to go crazy. if you look at how they measure being successful, it is how well they outperform the next guy. >> troy gayeski, thank you so much. the agenda. to focusing on stories that will shape the news. i am focused on the malaysian airlines jet still missing four days after he disappeared. no new information. all the leaves, whether the oil spill in water or debris spotted by different planes, turned out to be nothing. great withdall was american airlines. earlier, john and what he said about pilots moving from airline to airline, from a 777 to an airbus. >> the systems are so standardized. we should not be concerned about the age spread about those two pilots. >> we should not be concerned about the stolen passports, one was an iranian seeking asylum. >

residents include the chief executive of goldman sachs, lloyd blankfein i'm them as well as dan loeb.the worlds most powerful addresses. plus, a product designed

. >> but companies are out there saying, i need to protect myself against dan loeb. >> they are hiring. all of these investment banks, the top investment banks -- morgan stanley, goldman sachs -- they have dedicated groups inside investment banks to deal with not just your traditional defense, but before you get there, before it gets ugly. how do you talk to your institutional investors? that involves taking out management, and trotting it out to institutional investors so they do not partner with activists, adding ahead of all of this. this is major fees for everyone across the street. no doubt about that. >> one of them went to lehigh university, like me. >> shameless plug. coming up, a new twist in the investigation of the missing jet in malaysia. we are going to speak with the the flight attendants union. >> and it is friday. time to play the yearbook game. this tech heavyweight graduated from high school in alabama way back in 1978. >> i am going to take a guess. >> tweet us your guesses. we want to hear from you. >> i mean, that hair is so good. it is so good. ♪ >> welcome back.

of course, dan loeb owns 9.5% of the company and mercado putting out a release later today calling fora billion dollars, $900 million of incremental capital. >>> in the meantime let's get back to our guest host this morning the president of mt. sinai health systems and peter may who the president and founding member of triumphant management. i want to get back to the hospitals but we haven't talked about pepsi which is a big, big issue for you. you guys have been pursuing plan "b" trying to break up that company. they have said talk to the happened now repeatedly. they most recently said it about a week ago. where does this stand? what do you do next? >> we sent a very detailed letter to the bord which was accompanied by a 31-page white paper with our analysis of why the company should be split up and some of the things that needed to be done. they sent back a very dismissive short letter. and so we are now having conversations with the shareholders which so far have been going extremely well. it's interesting that earlier in the week bernstein research came out with a report, they did

. >>> when we come back, carl icahn, bill ackman and dan loeb. but one name you may not know, teresa barger. thooel thooel she'll be with us right after this break. >>> later, jack welch joins us for two hours on squawk. you don't want to miss this. nt . ameriprise asked people a simple question: can you keep your lifestyle in retirement? i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens when your paychecks stop? because everyone has retirement questions. ameriprise created the exclusive confident retirement approach. to get the real answers you need. start building your confident retirement today. sometimes they just drop in. always obvious. 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. >>> welcome back, everybody. it is a classic david and goliath story and it's playing

and we look at dan loeb and offered one board seat and said, no, i'm fighting you. ourve your overall view with a company under siege with a battle in its boardroom. >> what the activists need to do is go buy a lot of iron. one of the things that has -- i know that they will tell you, listen, the iron ore business is terrific. if you look at vale, some of of this is the brazilian real, it's a horrendous per informer, why? because it's iron. i know iron prices have held up. but you watch copper. copper has led iron down. >> not today. >> there's a lot of iron for sale. and i just don't want to be in the iron business. that's part of the problem. it's just a crummy business. >> yeah. >> no matter what. >> nothing changes its board or senior management team are able to do about that? >> you try to do a restructuring and bring out value but in the end iron is iron. tree is a tree and iron is iron. >> there you have it. what more could i say? >> that is deep. >> you're welcome. >> thank you. >> they should name a rest stop after me on the new jersey turnpike that kind of

sotheby's has two people for its board that it nominates to go up against dan loeb, wants three boardtes a very letter to pepsi and its board of directors. >> executive session without injury. >> i want to understand where your real expenses are. i want to understand your excessive overhead costs, i want to understand your advertising declines. be transparent and tell us what's going on and then, of course, continuing battle between carl icahn and john donahoe over at ebay. this is the season but -- >> isn't this unusual? this like teldar. >> these are fights. these are fights whereas in activism as we've often pointed out you sometimes have conversations that then lead to amicable resolution. these are fights. >> yes. these are big-name people really going at it and saying, you know, at wone point in peltz's letters he said cut the headquarters to two. how much money are you spending on the palaces. >> 17-page letter and they make the point we aren't normally this public about it. >> i know. >> and kind of saying that there's a little sedition going on. maybe a little breaking of the

the company so they can accurately price the individual components and it's the same thing with dan loebhe floor. >> he said even washington does a better jonathan the management at these corporations. but the question is what does it mean for the stock? i've been going through the analyst reports this morning, they are agreeing with the company and the ceo that ebay should stay together. i thought it was interesting that bank of america and merrill lynch said the activist pressure but on my carl icahn should actually help this stock because it should lead to more shareholder friendly type of moves. >> that's why he buys in and says it presumably. >> including cash, for instance. ebay has a huge cash pile $8.3 billion internationally, $3.2 billion domestically, they could return it more to shareholders and try to offset some of the distraction here. >> i was going to say on that broader point that politicians are less able to get away with stuff than carl icahn can argue ceos. i've heard a similar story if you're a politician. let's go to the hill elon musk has just started speaking. oka

carl icahn and dan loeb.ouldn't be getting this much future. we want to fly in cars we got 140 character, we're going to get flying cars as a result of activist investors. >> nobody can really beat on the door of zuckerberg or larry page because they're controlled by them. >> that's true. meantime, a new free video streaming service or something else? the journal this morning says that amazon is planning a we free ad supported streaming service to offer content to all users, not just amazon prime custer '. today amazon denied it but they're getting ready to announce something at a media event in new york next week. jon, you've got the invite. what do you think it is? >> i think this is the not probably a box with a streaming that we've been looking for. you plug it into the hdmi port on the tv, much like chrome cast and easily access amazon's content. not free. they are experimenting with groceries, drones. that doesn't necessarily mean they're specifically planning to bring this free service to life any time

loeb pearl or. pleasure to have you with us here on t.v. today i'm researcher. looking at the of the. little going to. be friday everyone i'm out here martin and this is breaking the set well i've got a great show for you guys today in they'll be talking about an f.b.i. al qaeda most shining a light on all things outer space and featuring a very special musical performance you won't want to miss so sit back relax and let's try to set. the pieces look at the tape it was terrible to take another look very hard to take out a little to get a little longer here the plug hat he ever had sex with her right there looking. for that little. little little little. little. little little little that. looked. like that. in a post nine eleven world the method of at the i'm trying to create and foiled terrorist attack. it has become all too common in fact many times it seems like the f.b.i. is pouring billions of dollars into these entrapment programs in order to justify the continuation of the war on terror however the rational always comes back to one thing nine eleven and alt