mr. pearson was, quote, not a mutual decision. board of directors was concerned about the organizational tone, and decided to oust pearson during a series of phone calls regarding the board over the weekend that the board informed pearson that this is what was happening. that they were taking a series of steps, including initiating that immediate search for a ceo. and that he was no longer in the company's long-term plans. they did send out that press release earlier today, of course, stating that they were looking for a new ceo and that mr. pearson would stay on until that person was appointed. we also know that bill ackman personally will take a seat on valiant's board. i have attempted to obviously contact mr. ackman this morning, as well. that's been unsuccessful. just a little color for you, in the way that all of this transpired over the weekend, concerned about the organizationel judge tone and that it was not a mutual decision for mr. pearson to leave his job as ceo of that company, carl. >> stock obviously responding in o

mr. pearson, he had been in vietnam for just 24 days before he was killed. so both of these notes were left in august of 1986. i assume they're from the same woman, although they both touch on two very different topics. in one, she's describing about how she was a nurse in vietnam, and she signs it, lieutenant dee baker, rn. the other one is talking about her husband tom, who died in vietnam, she signs it dana. the one when she was a nurse starts off, i went to vietnam to heal and came home violently wounded. i still awaken from nightmares about those we couldn't save. i went to vietnam to heal and came home to grieve for those who went home blind, paralyzed, mindless. i went to vietnam to heal and discovered i am not god. and then the other one, she talks about her husband tom. we would have been married 21 years this year. they got married when he was on leave in san diego and i assume they both went back to the war where he was killed. and so they were only married a very short time, but she saved this letter in honor of him 21 years later. we get a lot o

mr. pearson and helped with his appointment.e joined with valeant in pure suing allergan. now he bought the allergan stock then and affirmed his stock by buying valeant. some people disputing whether it was -- it was legal but didn't look great. >> who could forget that soap opera. still running. >> still running. >> we'll keep an eye on it. we're also keeping an eye on washington. show you a live shot here of the white house where president obama will announce his nominee for the supreme court. we'll bring you that live as soon as he starts speaking. set for the top of the hour. squawk on the street will be right back. tavi gevinson. trendsetter, tastemaker, and teenager. watson, you sound like a fan. millions look to you for advice. i know... i can't believe it. i am learning to analyze social media to spot trends and predict demand. sounds like you spend a lot of time online? i constantly absorb online content to follow shifts in pop culture. so... you're learning to think like a teenager? yes. how am i doing? well... uh... y

mr. pearson's business. deet * we heard there is a risk of jail time? > if the federal government were to deem mr. pierce if he used his property the way he has other properties, simply to run his business. the federal government would be able to say his property was wetlands under their control and threaten him with jail. deirdre: a family business that has functioned in a certain way for years, all of a sudden the pattern changed. >> they want to use their property as they have used other property in minnesota. they have a successful family-owned business. some of the nicest golf course and football stadiums use their soil that they mine from peat. he said i hope you allow them to use their property because if not we'll all be out of the job. the bureaucrat said you might want to get your resume in order. deirdre: it seems as if millions of property owners would be affected. mark miller, managing attorney for pacific legal foundations. we may be closer to finding the source of susan rice's benghazi talking points. the president of the group is suing th

mr. pearson was ready to come back to the company. on the board of directors about whether they wanted him to return. some of those same directors may now really be wondering whether that was a good idea. it appears while many believed mr. pearson's return would be seen as a positive, it is not. can't determine if that's a screw up between the press release what was said on the call and in the slides. these are the communication errors that they made time and again, meg, that has completely dispaced any confidence that investors have in this company. you're talking about a company where the fundamental business model has been in question for quite some time. people are saying does it deserve the kind of multiple we're talking about given the lower ebita? when you add in 30 billion of debt you still get an enterprise value of $45 billion. it's not even that cheap. that seems to be what's going on today. your take? >> it's mind boggling. i agree with you. we have been saying for months what other shoes are there to drop. and investors t

mr. pearson. >> do some get in on the 14th, the rest of us on the 15th?prised at the same moment. >> that would be so cool. al of us find out at the same time. like you get with bristol-myers. right. >> a couple food names. dunkin' cut by guggenheim to neutral. tonight is shack. the "journal" is skeptical, points out short interest record high. >> i think shack is one of those stacks that is tesla-like. i have the burger, so i want the stock. i get that. i think shaq can grow into its market cap. it hasn't been hurt by mcdonald's. i had pop eye's, louisiana kitchen, they were hurt by mcdonald's. jack n the box was hurt by mcdonald's. ihop doing forever all day breakfast, but everybody dealing with the mcdonald's disruption. shake shack doesn't have to. it's not like let's go to mcdonald's, no, let's go to shake shack. it's like let's go to a hockey game, no, let's go to a broadway show. >> let's go to my place, let's see macy's -- forget it. on the town. >> the bronx is out. dow down 32. we welcome back bob pisani to the floor. >> good morning. good to be

mr. pearson is remaining until a successor is named. ackman is on board.he former cfo was also asked to resign as a board director, and apparently has not tendered his resignation. shares elevated the last few weeks. valeant was $200 back in september. it was something like $70 six or seven trading sessions ago. so, a lot of volume in valeant, a lot of people feel a bit of good news with ackman on board now. the markets, have you noticed we have the five-week rally going here? virtually everything. the s&p 500 up five weeks in a row. germany, the dax up five weeks in a row. oil as well. rolling into a new contract on oil today. it's bouncing around today. we are not that far from the old closing high of 2130. mixed picture over in europe. mostly to the down side. these days, the things you want to watch in europe are oil stocks and auto stocks. oil because of oil bouncing around, auto because they react in relation to the euro. if the euro is stronger, generally auto stocks move slightly to the down side. euro is flat today. we're approaching the end of th

the spokesperson, katrina pearson, she talked about a few moments ago. >> absolutely mr.l part of the team of the the camp wholeheartedly supports him and see him through the entire ordeal. >> so jacob, they're pushing back now. do you anticipate the campaign is going to have to part ways with corey lewandowski, if the charges hold up? >> reporter: that's a tough call. katy tur asked trump exactly that question. what evidence comes about that shows that in fact, he did grab the reporter, and trump asked katy for an apology and walked away. so he hasn't addressed that and given no hint as to whether he was in fact after this charge, went to court, and in fact, was found guilty if that would have anything to do with -- what would happen then to the campaign manager, would the campaign part ways. we have no clue what would happen there. but donald trump sticking by his staff, as you've said, tweeting out in support of him and asking people instead to look at the former reporter from breitbart and what she said about the incident, instead of looking at corey lewandowski. it w

. >> so as ben mentioned, it was just a short time ago katrina pearson, who is a spokesperson for the trump campaign, played this. >> mrlewandowski is an integrity ral part integral part of this campaign. we will support him and see him through the entire ordeal. >> that would be typical of a campaign to rally behind someone who might be in trouble, or could they cut fish bait and run? >> look what happened recently between ted cruz and his communications director rick tyler, who he posted a video that was out of context about marco rubio, and he resigned quickly from the cruz campaign. it's usually par for the course that if a campaign staffer is in the wrong that they resign, they're fired, they move on. donald trump has no ability to ever admit that he's wrong or anyone around him is wrong. >> but the political paradigm that we know of a trump candidacy has completely changed the dynamics of politics. so wouldn't it be the complete opposite reaction as we're seeing to go ahead and insulate and support corwin lewandowski? >> it's exactly what trump is going to do, just over and over and over saying what he believes t

pearson. good morning. >> good morning. >> you defended mr. lewandowski who made headlines yesterday.s charged with simple battery. he'll keep the job even if he doesn't beat the charges. most would be suspended or out of a job. why is the trump campaign not suspending him? >> you don't ruin man's career just because people want you to. i think now that the police surveillance video is out there, it's clear that the allegations that mr. lewandowski forcefully grabbed her and through her to the ground clearly shows he didn't. >> you're saying he will beat the charges. >> yes. this is one of those things where mr. trump is going to stand by mr. lewandowski. he did nothing wrong. this was a press scrum. this is a reporter who crossed the secret service threshold where you could also see two secret service agents reached out to her not to touch mr. trump, and she did, in fact, grab mr. trump. so no, there's no need for him to lose his job. >> it's clear why his rivals would jump on this politically but do you deny that they're calling it personal attack a salts and attacks -- >> i don't.

mr. bill ackman. the first activist in this trade. these are tough days. mike pearsonin the seat for 2.5 weeks >> a lot of rich guys getting poorer this morning. really interesting what happened. they came back two weeks ago. them, theye one of came out, said nothing we have heard changes our positive you about this company. the company comes out in the cut the guidance by $1.5 billion. they say they're going to shave 25%.lose to stephanie: we have been talking about this company for the last 10 months. when we are dancing in the 50's, it is a different story. >> it says bungalow to -- it just about every line. >> some of these businesses are not doing well and there are no cost productions to compensate. bad things. all anybody wants now is this company to get on its feet, get stable, and deliver results. you are saying you cannot cut costs and on top of that, we are going to continue to have more problems? people get nervous about that. matt: while he was worth more than one billion dollars just at the end of december 2013, amir three months later, he has lost about

mr. wonderful himself will explain when "fast money" returns. >>> welcome back to "fast money." shares of embattled pharma giant valeant losing 6% after news that michael pearson step down and board members announced actman investor bill ackman of pershing square will join the board. valeant is also accusing the person who had been the interim ceo and cfo of wrongdoing. >> yes. >> of nothing that something fishy was happening. >> that to me was the most important piece of information that came out today and it raised more questions than it answered this release because i don't recall seeing a time when a board has asked someone to resign and they said no. so that in itself is extremely interesting. it's looking like they are pinning the accounting irregularities on him. he's saying no, that's not the right place. would i guess he does not want to be made to leave the company and assume that he's going to be the fall guy and would much rather stay in. that to me is the most disturbing thing but it doesn't address. the filledior thing that they came out with today addressed the accounting issues but doesn't address what they have been subpoenaed for is the payme

mr. trump offing a new take on one of his toughest immigration stands or so the reports suggest. the national spokesperson for the trump campaign is next on that. katrina pearsons here. >>> also here, drew stevens, he's worked on five presidential campaigns and is getting a lot of attention for his take on this race. >>> plus a distressing first amendment story after ben shapiro's invitation to speak at a public, public, i say, university leads to massive efforts to shut him down. hello, first amendment, where are you? ben is here on who he thinks is behind this. this is joanne. her long day as a hair stylist starts with shoulder pain when... hey joanne, want to trade the all day relief of 2 aleve with 6 tylenol? give up my 2 aleve for 6 tylenol? no thanks. for me... it's aleve. we built our factories here because of a huge natural resource. not the land. the water. or power sources. it's the people. american workers. they build world-class products. and that builds communities. and a better future. for all of us. because making something in america means so much, to so many. weathertech. proudly made in america. you're down with crestor. alright! now there's

mr. trump offing a new take on one of his toughest immigration stands or so the reports suggest. the national spokesperson for the trump campaign is next on that. katrina pearsons here. >>> also here, drew stevens, he's worked on five presidential campaigns and is getting a lot of attention for his take on this race. >>> plus a distressing first amendment story after ben shapiro's invitation to speak at a public, public, i say, university leads to massive efforts to shut him down. hello, first amendment, where are you? ben is here on who he thinks is behind this. hi i'm kristie. and i'm jess. and we are the bug chicks. we're a nano-business. windows 10 really helps us get the word out about how awesome bugs are. kids learn to be brave and curious and all kids speak the language of bug. "hey cortana, find my katydid video." oh! this is so good. if you're trying to teach a kid about a proboscis. just sketch it on the screen. i d't have a touch screen on my mac, i'm jealous of that. you put a big bug in a kids hands and change their world view. [ laugh ] if you have moderate to severe ulcerative colitis or crohn's, and your symptoms have left you with the same vi

pearson, the trump campaign national spokesman. very good to have you. >> hi, neil. great to see you. neil: how do you think mr. trump will respond? will he respond? i know he tweeted some things ahead of the fact, but what do you think he does? >> i think he'll respond. he'll definitely bring it up in his speech simply because he'll be defending himself like he always would. but i've got to tell you, neil, it was interesting coming up to the studio to talk to you. two cycles in a row, all the geniuses told us who can win, who cannot win and why. failing twice now. it is time for republican voters to pick someone that can rally support from all fears of the republican party. >> one of the things that governor romney talked about was mister trump's plans. donald j trump.com. does romney talk about spending. the people out there on the ground for years, they know what is best. they have failed that every measure. going on and attacking mister trump's business record. now, republicans attacking capitalism and pushing for social justice. >> there is no denying success with trump. we all do. trump university. two we

ceo mike pearson has now been back in the job for a little over a week after being out for a couple of months with serious illness, but you wonder mrackman who's the second largest shareholder does himself any fabors when he's quoted in the bloomberg stories as he was yesterday either management will restore confidence in the reputation of the company with the public and investment of the community or they won't. if they can't, then one of two things will happen. new management will be brought in or the business will be sold. i don't know that that's helpful when you're -- when your influential share holder says something like that in public. they say, no way. you could sell some stuff. you may be able to find some buyer, but you're not selling this whole company. >> no. >> you've got 30 billion in debt on it still. you've got real questions about how much they can push in terms of price. you've got the failure of the. >> there was kirkland. i was a summer associate and i got an assignment for him and right around that time, i -- i had buttons, right, and i would take a nap and i fell down and i had the three buttons on my forehead

pearson is here. and amanda carpenter is here also. welcome to both of you. >> hi, carol. >> good morning. >> good morning. katrina, less than 10 minutes into the debate your boss, mr.nhood. doesn't that cheapen the debate in this country? >> well, he was actually responding to marco rubio referencing the exact same thing, but you didn't show that clip to put it in context. mr. trump will respond when he's attacked. that's what he did. >> amanda, is that fair? i mean, i guess marco rubio, like brought it on when he talked about donald trump's small hands, and i can't believe i'm saying this on national television, but amanda, your take? >> it's embarrassing. i woke up this morning kneeling nauseous, and granted, there's a flu going on. it's because of th donald trump debate performance. the trump effect is nausea. we can say rubio is to blame. no. donald trump goes to the bottom of the barrel, gutter politics at every opportunity. if he becomes president, guess what? you're going to get a lot of untact, and unfair attacks. it's the president's job to rise above it and challenge not only himself but the office and the country to be better. and trump is not getting be