susan mccue of virginia to be a member of the board of directors. mark green of wisconsin to be a member of the board of directors. the presiding officer: under the previous order, there will be two minutes of debate equally divided in the usual form prior to a vote on the hyde nomination. mr. reed: madam president? the presiding officer: the senator from rhode island. mr. reed: i ask consent to yield back all time on the hyde, mccue and green nominations. the presiding officer: is there objection? without objection. the question occurs on the hyde nomination. all in favor say aye. all opposed -- those opposed, no. the ayes appear to have it. the ayes do have it. the nomination is confirmed. the question occurs on the mccue nomination. all in favor say aye. all opposed say nay. the ayes appear to it. the ayes do have it. the nomination is confirmed. the question occurs on the green nomination. all in favor say aye. all opposed say nay. the ayes appear to have it. the ayes do have it. the nomination is confirmed. the clerk will report the costa nom

i'd like to acknowledge the army's leadership, general mccue, secretary mccue and general as well as senator jack reed who is here as a proud graduate of west point himself. to the class of 2014, i congratulate you on taking your place on the long gray line. among you is the first all-female command team, erin mallin and austin b.a.r.t. and you have a rhodes scholar and josh herbeck proves that west point accuracy extends beyond the three-point line. to the entire class, let me reassure you at these final hours at west point, as commander in chief, i hereby absolve all cadets on restriction for minor conduct offenses. [ laughter ] [ applause ] >> let me just add that nobody ever did that for me when i was in school. i know you join me in extending a word of thanks to your families. joe demoss, whose son, james, is graduating, spoke for a whole lot of parents when he wrote me a letter about the sacrifices you've made. deep inside, he wrote, we want to explode with pride in what they are committing to do in the service of our country. like several graduates, james is a combat veteran,

caveatcould you put that in on a morning when ross mccue it is sitting on the boards going oh, thanksinkedse, the kitchen everything. these numbers are good. first quarter net income tripled. it was triple where it was last year. the market was looking for a loss. when you look inside these numbers, it is about staff costs. this time last year, this bank had impairments. that is a key driver. , i was told tome be ready for a big restructuring charge. there's no sign of that yet. >> they are suggesting that later on in the year they will get some more of these one offs. about the time and amount of redress. >> that was attached in the copy beside markets. first-quarter profit rose within the markets division. you're right, it is about litigation and ongoing investigations and the restructuring charges may well, later in the year. capital? they're building the gain towards capital. they're getting closer to 11%. they have the government slightly off their back in terms of ability to pay their debt. >> to have a host of businesses that they're trying to either turn around or get to spin

general mccue, secretary mccue and general nofsh and senator jack reed who is a graduate from west pointto the class of 2014, i say congrats on taking your place on the line. among them is the first all female command team. you have a road scholar as well. and josh her beck proves that west point accuracy extends beyond the three point line. let me assure you as command and chief that i hereby let go all of the people on probation for minor offenses. [ applause ] let me add that no body did that for me when i was in school. i know you joined me in extending a word of thanks to your families. joe demoss, whose son james is graduating, spoke for a lot of parents when he wrote me a letter about the sacrifices he made. deep inside he wrote, he want to explode with pride at what they are committing to in the service of our country. several graduates -- like several graduates, james is a combat veteran. and i would ask all of us to stand and pray tribute to the veterans and the 2.5 americans who have served in iraq and afghanistan as well as their families. [ applause ] >> this particular usef

we did sign up for the coal up at 1% because we felt that the general could, in fact, and secretary mccue could buy back the readiness. we were less enthusiastic about the others, you know, so our approach was to go with the cola. >> thank you. general. >> sir, in a real sense, these structural changes that we're talking about are a reduction in compensation. earned benefits. to prioritize prior to what we believe the congress's intent was, the commission who is going to look at all of this is preemptive, and we can continue to piecemeal year on year benefits, compensation for retirees, service members, survivors and pretty soon you've created a volunteer force that's no longer volunteer force that's no longer viable. i support the commission and a true vetting of their recommendations before we prioritize anything, and in a real sense i believe waiting the year is very important to the men and women who serve to keep the faith with them. >> thank you. i take it from your nodding your heads that when i talked about sending you proposals to get rid of sequestration, you indicated that your

. >> i was talking to mike mccue of flip board who told me about raising capital versus spending it.perience being very careful about actually spending that capital. the money is easy right now. what your telling the start ups in your portfolio about how much they should be burning through that at this point? >> mike has it dead on. one of the things i try to ask our entrepreneurs to do in all the financial statements you have the monthly burn, the cash and divide the two and you have months of cash available at the current expense rate. i would love to see that number north of 18 to 24 months. >> you mentioned q1 and valuations coming in. some people want to argue it was in part due to david saying it's nervous timg. >> i didn't hear that being a driving factor. we respond to the public market so the by side on what they are willing to buy and sell has a much higher impact on anything anybody said. >> you announced an interesting investment called hacker one. it's an unusual company. temple us what it is and why it could be a game changer. >> so, you know, you read a lot about the h

flip board ceo mike mccue joins us here. mike, it's good to see you.le may know about the app. for those who don't, how is it different from competitors? >> flipboard is the single place for everything you care about. imagine if you could hire all the editors and photographers at "ti "time" magazine and have them work for you every morning. that's what flipboard is. >> there are other companies getting into this news reader business. you have trove from graham holdings, linkedin, facebook has its own new reader app. how do you compete with all of these new competitors? >> news readers basically let you kind of look at rss feeds and you can do that on flipboard but our to can us is letting people who are passionate about something create great content about that and pull it together in the format of a magazine that you can flip through on your mobile device. there's really nothing else like that. paper, from facebook doesn't do that. a lot of the other products don't do that. it's really a unique thing. >> one of the things that mary meeker was talking

. >> secretary mccue is heavily involved. i was in the staff office yesterday talking to them about getting better information for cost and readiness. he is heavily involved on a monthly basis. >> thank you. >> i am a recovering governor. when we would try to solve issues in the state of delaware, i would say that someone else has figured out how to solve it. need to find at that state, that governor, and whether their solution was exportable to our state. occasionally, other states would this or that,u do and we would try to help them. raburn, i don't know if in the navy you ever heard the but as theal speed," plane is taking off, it gathers speed and we call it refusal speed. pilots where the other tries -- decides to keep the plane on the ground or fly it. try to have the aircraft going down the runway, moving toward and being audible and having a clean audit. and somewhere along the way they have refusal speed and they say, we're going to fly. we will get this done. and they did. and it was not just the deputy secretary,

we did sign up for the coal up at 1% because we felt that the general could, in fact, and secretary mccue could buy back the readiness. we were less enthusiastic about the others, you know, so our approach was to go with the cola. >> thank you. general. >> sir, in a real sense, these structural changes that we're talking about are a reduction in compensation. earned benefits. to prioritize prior to what we believe the congress's intent was, the commission who is going to look at all of this is preemptive, and we can continue to piecemeal year on year benefits, compensation for retirees, service members, survivors and pretty soon you've created a volunteer force that's no longer volunteer force that's no longer viable. i support the commission and a true vetting of their recommendations before we prioritize anything, and in a real sense i believe waiting the year is very important to the men and women who serve to keep the faith with them. >> thank you. i take it from your nodding your heads that when i talked about sending you proposals to get rid of sequestration, you indicated that your

general mccue and senator jack reid who is here and a proud graduate of west point himself.ngratulate you on taking your place on the long, great line. among you is the first all female command team. you have a road scholar. and josh proves that west point accuracy extends beyond the three-point line. to the entire class, let me reassure you in these final hours at west point, as commander in chief, i hereby absolve all cadets on restriction for minor conduct offenses. [ applause ] let me just add that nobody ever did that for me when i was in school. i know you join me in extending a word of thanks to your families. joe, whose son, james, is graduating, spoke for a whole lot of parents when he wrote me a letter about the sacrifices you've made. deep inside, he wrote, we want to explode with pride at what they are committing to do in the service of our country. like several graduates, james is a combat veteran. i would ask all of us here today to stand and pay tribute not only to the veterans among us but to the more than 2.5 million americans who have served in iraq and afg