mr. ackman a spoiled brat >> it does feel like that carlos took an ice pick and put it through ackman --hich is suboptimal for ackman. carlos said this guy is a total joker, i wonder why you give him money. does he start taking on the industry and carried interest and ackman's numbers are down and talking about ackman and what happened with herbalife and i like carlos because he's not taking this lying down it is a little impressive, that he basically says, listen, what are you doing investing with ackman, he didn't even get as many votes he should run for dog catcher. >> well, yeah, he is questioning those investors and their decisions to invest with mr. ackman we talk so often about bill's track record in terms of certainly a lot of the low likes, whether it be a jj. krerks penny or valiant and allergan was a big win he's being sued. there's important litigation we may get to in the month or so ahead. he does have permanent capital, that was one smart thing he did amongst many everybody can't pull even if they wanted to. >> it's interesting -- how about valiant, really getting it toget

mr. ackman himself after two tough years and questions about his own future as an activist investor. bill ackman back with us here today in studio. welcome back. >> thank you >> let's start. this is the final push how are you feeling going into this vote? >> great. >> yeah? >> even though david faber earlier reported that according to his information that you're going to come up short. >> yeah. so here are the facts. facts are i don't know whether we're going to win or lose tomorrow neither does adp, so when i saw faber's report i was kind of puzzled by it, so i looked the top ten investors own 32% of the company. 75% of those shares have not been voted yet, and why is that? because the big institutions wait until the absolute 11th hour to vote because they don't want to get lobbied by management or us want to put their votes in and have it be definitive. i don't know if there's any way someone can call the election and point out under the proxy rules it's illegal for either side to indicate how the vote is going. now, obviously mr. faber is going to report whatever sources he gets,

mr. ackman: we are not waging war.tayed away from ad hominem attacks and accusations of the company that they've made against us. this is a great company. but that is really looking backwards. the company has fallen behind competitors. it's lost major market share in the enterprise market. a company with thousands more employees. other companies have taken away a lot of share from the company. his muchpany with financial resources and strong market position adp has had, customers that of been with you for a decade or more, it's not a good thing. the second component is the company has about 20% margins. about -- they could be 60% higher than what they are now. this is a company that operates with a very old-fashioned organizational structure. leaders of management. 130 offices around the country. in efficient procurement. can bere the things that fixed. you can do it by making light suggestions. the culture of this company is very ingrained. our goal is to meet with the board. they forced us into a proxy contest and th

mr. ackman: we are not waging war.d away from ad hominem attacks and accusations of the company that they have made against us. we have focused on the core issues. this is a great company. but that is really looking backwards. the company has fallen behind competitors. it's lost major market share in the enterprise market. this is for companies with 1000 or more employees. other companies have taken away a lot of share from the company. for a company with as much financial resources and strong market position adp has had, to allow this to take away customers that have been with you for a decade or more, it's not a good thing. that is a the second component first. is the company has about 20% margins. they could be 60% higher than where they are now. just basic reorganizing the structure. this is a company that operates with a very old-fashioned organizational structure. too many layers of management, 130 offices around the country, inefficient procurement. anything from buying office supplies to dealing with suppliers.

mr. ackman himself after two tough years and questions about his own future as an activist investor. with us here today in studio. welcome back. >> thank you >> let's start. this is the final push how are you feeling going into this vote? >> great. >> yeah? >> even though david faber earlier reported that according

mr. ackman, ggp is one of his greatest trades of all-time >> yep >> they get a takeover offer from brookfield property partners, according to the "wall street journal." >> yes well look, this is a company that has some serious secular challenges and we've talked about it a lot they are mall operators. so frankly, i think this buyout offer is a lifeline, it's not a huge premium but i think it's the right deal for them because brookfield has been pretty savvy in diversifying their portfolio. yes they're in retail and also in office and multifamily units so it gives some diversity to the overall portfolio. they're good at turning around distressed companies and property i like this deal >> all right, just ahead we are going to set you up here, earnings game plan for the rest of the week, a lot of big names are on the calendar, as you can see. the traders are going to take their positions on home depot, ten cent, l banques, walmart, target, footlocker, buckle >> buckle? >> gap maybe. best buy >> o, ohyeah >> we're back in two minutes >> that's management opportunities aren't always obvious. somet

mr. ackman about that story, recently making a change to his herbalife investment and talk about that souch and so much more with bill coming up on monday. >> next, the wall street firms saying now is a time to make a move on twitter. despite the company's missteps last night and problems in washington. >>> before the break, our data partners at kensho show what happens to apple's stock after the company posts a similar earnings report to the one released yesterday the stock is up a month later 67% of the time. by an average of 3.72% versus a heop for the nasdaq 100. "t halftime report" with scott wapner and the traders is back in two minutes do it? it's not just a pay check, you actually like what you do. even love it. and today, you can do things you never could before. ♪ ♪ you're developing ai applications on the cloud. finding insights hidden in decades of medical documents. and securing millions of iot sensors. so get back to it. and do the best work of your life. ♪ ♪ and do the best work of your life. not rebalancing your portfolio. focused on what you love, not how your money will

ackman thought he had. >> he came out swinging mr. rodriguez very early and quickly, calling ackman here on the set a spoiled brat guys, jim, nxpi, the deal qualcomm has to acquire the company at $110 a share, which we have spent time talking about has added another layer of complexi complexity given broadcom $70 share a bid for quaulcom we don't mind if you buy for 110 bucks a share, we think it's compelling at 110. what they are not saying but what is being said as well though, don't pay more and so yet another thing for nxp shareholders to take into account. we've talked about they believe the stock price would trade at the higher value in the open market given the multiples of peers and success since signing the deal with qualcomm and therefore they will not tender their shares and under dutch law the minimum threshold is 70% right now qualcomm still aiming for 80%. jim, you're throwing yet another thing in here. of course it does raise the possibility that qualcomm could then pay a lot more for this company in the sense trying to