i have ever met. >> elon musk!applause ) >> pelley: tesla stock has rocketed up nearly 500%, but that's not based on the cars he's selling today. that price is counting on the hope that tesla will create an electric car at one-third the cost of the model "s," which runs about $100,000. this is what stands in the way. this slab covered in plastic is the battery. so, this is essentially the bottom of the car. the front wheels would be there, the rear wheels would be right here. it fills up the entire bottom of the car. >> elon musk: that's right. >> pelley: this is how it fits into the bottom of the chassis. trouble is, the battery's so expensive, musk can't build a $35,000 car with acceptable range. to make tesla successful, he must reinvent battery manufacturing. musk has just announced a $5 billion factory to be built in the u.s. which, he says, will make more lithium ion batteries than all the other plants on earth combined. gambles like that have led a lot of people on wall street to bet against him, taking inve

and if that's the basis, then musk can be made on anything. found that the autistic kids that we have, they just go right at us. a lot of them fixate on pa turns. >> reporter: which goes to the old saying, play the musk not the instrument. now five guys in a band are taking that to a new level. >> a whole new level. that was richelle carey reporting, and they said it's their mission to help students thrive in a technology-driven world. now jalela. >> meteorologist: we have storms across florida right now. that will go until 5:00 tonight. we have a strong line of thunderstorms that continues to make its way, bringing down heavy, heavy rain to the east of hall hasy and central florida right around the orlando area. a strong thunderstorm that has a history of producing damaging winds greater than 70 mph. it will push through daytona, and along i-10. cooler air will be making it's way into the region. now we do have another line of rainmaking making it's across alabama. if you're on the roadways, be careful of flash flooding looking to be a proble

i like a little girl with a boy band elon musk. i own his stock.elissa: on that note i have to get to breaking news on gm. so gm ceo mary barra is filing a written statement before her testimony on tuesday so we know a little bit what she will say tomorrow. these are the quotes we have so far. i can't tell you why it took years for a safety defect to be announced. i will tell you when i find out. i don't know what that is in response to. today, gm will do the right thing is another thing she is going to say. my sincere apology to everyone affected. i'm deeply sorry. bruce, from a branding perspective. what impact does, i know we're throwing you a curveball here. we're supposed to be talking about something else. this is the breaking news coming right now. so we have the right people to talk about. bruce, from a branding point of view, what dud she have to do tomorrow in order to make people feel better about gm? >> she is doing right things. first thing she needs to say, we are sorry. we understand what happened. we're going to get to the bottom of

elon musk has lost quite a few people in his company. i.e. chiang was hugely important to his strategy but he came from bentley, he was the general manager in china, and elon musk has said repeatedly that sales in china are likely to equal if not the even more of a he sells in the united dates. is this a sign of some turmoil here? >> good morning. it certainly is a setback. he lost people at the front times. along the way, building the company, he almost had departments in serial. toyotaeneral motors or with a massive organization and new models coming through all the time. sometimes he had people just really when they need them. right now they need good salespeople in china, especially to position the brand in its luxury space and really know how to speak to those customers. it is a setback. i don't know chang and cannot speak to how particularly gifted he is but this is not the kind of thing elon musk once when he is trying to hit the ground running in china. u.s. we knowin the about the battle that elon musk is having with auto dealers aro

elon musk takes advantage of u.s. dependence on russian rocket engines. to our viewers here in united states and those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines today. musk'sng details elon hall for the u.s. to reduce dependence on russia in the space program. peter cook, with the latest on russia joining -- on crimea joining the russian federation. busy 24 hours. we had the crisis escalating today when the russian president, after that big speech in front of the parliament in moscow, basically officially absorbing crimea into russia, with a signature on a document. you had western nations condemning that russian action, and promising to respond by stepping up sanctions. they warning the crisis is entering a new, more dangerous phase of live ammunition. the greenlight for that in ukraine. president putin effectively bringing crimea back into the russian fold. kremlinally televised speech where putin defended russia's actions in ukraine. >> the referendum was open, and it was fair. th

or to an innovator, like elon musk? larry page said he would rather give his billions to musk.eet, it should go half and half. both are noble causes. michael tweets, there's not a lot of charities you can trust to manage your money effectively. elon musk has a proven track record. and yeah. we're going to look at larry page by the numbers, perhaps? the guy's got $32 billion to distribute. what he does with it is pretty telling. there you go. $31.2 billion, in fact. donation, $185 million in google shares. what do you think? >> no. does he think elon musk doesn't have enough money already to see his dreams come to life? how about fixing education or something with the environment? what happened to don't be evil? why do we give the money to billionaires? >> he's making a different point that there's a huge bureaucracy in the nonprofits. and the assets are not being allocated appropriately. he's making a dramatic statement to get people to talk about it. >> if it was an individual, like bernie madoff, or allen stanford, if you gave the money to him, it would be gone. >> we're not

explain that. >> we know elan musk is no shrinking violet. he doesn't mind who he has a go at here, but it does look as though this time around chris christie may have a need to answer the criticism here. the new jersey governor being said to be involved in a back room deal by elan musk as it looks as though there will be a ruling that they have to shut down their direct selling mobile so ultimately this will mean they'll have to go through the dealer network. elan musk says it's not in the dealer's interests to sell cars. it will not be good for business for tesla so he's seeking a judicial ruling that would overthrow this decision in new jersey. >> it will be one to watch. highly popular cars. >>> still ahead on "way too early," who's in, who's out. we're going to be breaking down the march madness brackets. >>> later, one diver gets attacked by an angry reef shark and lives to tell you about it. we'll show you the video. >>> that story and weather when "way too early" comes back. stick around. >>> this was the first sunday at the vatican f

yang yang is on capitol hill where elon musk testified about the state -- the space race.et another delay in obamacare rules. we begin with peter cook and .reaking news good. >> good afternoon. a snapshot of the u.s. economy. conditions rummy come -- the economy,uggesting the continues to move forth. the growth could have been better if it had not been for all the bad weather around the united states. compiled by the stats, the federal reserve bank of atlanta indicate economic conditions continue to expand. eight districts reported improved levels. only district to report the activity actually slowed. the weather is a significant factor. it hit consumers as well. retail sales weekend since the report for most districts. severe weather activity. moderateis reported sales growth since the beginning of the year. the weather was also cited. cleveland saw strong gains. the bad weather did help ski resorts. no surprise there. occupancy,owl, hotel tourism was up in many districts. manufacturing sales took a hit and were negatively impacted by weather. -- levels improved districts

elon musk was encouraged after today's hearing.e thinks it's a good sign that lawmakers seem to be on board, seem to see things from his point of view that we need to have more competition, it should lower costs in the long run. that is something to be determined. right now it looks like as soon as october 1 begins, we could see this opening up. before it can happen, spacex will need to get certification, eelv certification that it does not have. good news last week, the air force announced its launch of the falcon nine in late september would count towards one of the three necessary launches to receive that certification. that was a big move in the right direction and that momentum was certainly something that he brought with him today on the hill. that's what we can say for now. one thing to point out is that this hearing is not quite over just yet, because it is a hearing that will keep on giving. one thing the subcommittee chairman said in his remarks was that they were doing something a little bit unorthodox this time. they wa

you know elon musk.s to be the disruptor. >> elon musk never met a challenge -- thank you, betty liu, the latest on elon musk and tesla. and betty, i should add that you thedoing a special show on 16th? we will bring you an in-depth look at the escalated battle between tesla and the auto dealers. >> coming up, this nba guy moving from hardwood to hollywood. dunk.actly a slam he wants to take it to hollywood. ♪ >> welcome back to "market makers." stephanie ruhle with erik schatzker. he is hoping that he could make it beyond the basketball court. the agency is trying to help. relatively it -- relativity media is known for movies and tv shows, but they are moving to sports. jon erlichman sat down with him and his agent. tell us. he wants to go hollywood? he is going the way of shaquille o'neal? >> yes, we will see. obviously you alluded to the priority is to help the knicks went. mix knowo follow the that he is into high fashion, writes kids books. you can do things like that when you work with firms like r

let's go to the hill elon musk has just started speaking. okay, so elon musk is up.s something that was a bit of a surprise to me. >> oh. on the hill yes. talking on the senate side. i think we have some audio of tesla's ceo. we're not going to take it full but obviously the future of the space business is huge. i don't know if you saw the headlines today, the vinklevoss twins are going to space paid for by bitcoin. >> out bit interesting to see these guys on the hill now that space is private business. >> any headlines from musk obviously we'll bring them to you. >>> all right, social network. facebook has hired a community safety police officer for three years for the price of $200,000 a year. the officer will be on patrol in menlo park. that's an interesting news. and by the way, i saw some local political reaction very supportive of the facebook move to get security. >>> brings us to the squawk on the tweet, now that facebook has hired a cop for menlo park police should be on the lookout for what? tweet us @squawkstreet and we'll get your responses throughout the

elon musk is trying to change that.he is with rachel crane. >> reports say that of the $70 million that the russians are offering to go to the space station, they have us over a barrel. not a good place to be. we want to restore the american ability to do so as soon as possible. i dig it will be a better product for less money. it is just kind of embarrassing that we have to take these from the russians. >> something of little less ambitious than a rocket to space, but cool nonetheless, the $1200 drone that takes pictures, shoes video, and can fly autopilot, it has become the new plaything of technology junkies, but what are the risks? jon erlichman went there to test it out. >> there is always someone catching a wave, but now they are capturing footage to. this is the future of what sports videos will look like. drones crewing -- cruising high above the surf. right now the phantom to vision appears to be that drone of choice among technology enthusiasts, capturing these shots on a trip to the caribbean. >> it comes pre

elon musk is going to make the case that space x is up to the job. >> it seems like elon musk as the he definitely is. he will make the point that the federald save government $1 billion a year if it were to go with space x and he has had a couple of good weeks. first, the air force announced last week that its falcon nine launch back in september would count as one of the three necessary certifications and needs. tesla last week successfully raise $2 billion in convertible .onds for new battery plants he is hoping that positive momentum will carry him through today's hearing as well. >> you think we will see the two ceos criticizing each other? >> there will definitely be some of that below the surface. both have plenty to say about the other. is facingnch alliance some pressure from the pentagon right now to fix some quality control procedures. space x could come under attack for the fact that they don't have a proven track record right now. this is really about the viability of commercial space launch programs. both ceos are therefore a similar purpose. they should still stand uni

ceo elon musk never gives up. will this challeng

then never bet against elon musk. that last time, jonas. >> jonas, get in there. >> tesla, when you said they were -- melissa: low blow, jonas. get in there. >> i'm well aware of elon musk bubble and how hard it is to short it but adding another $10,000 in batteries to that equation in my house is not better. makes matter work. if you had tesla park and get all the dead battery capacity sure but you're not making sense. the numbers don't work. analyst subscription model they will never get more than $200 a month. you can't finance panels. >> growth is there they have installed 567 megawatts -- [whistle blows] melissa: there you go. that was whistle. it is over, guys. thanks so much. we will see who was ahead on points there. thanks to both of you. >>> up next, marketing monday. all about bad marketing. have you seen this? arm pit of america campaign. guess which state they're talking about? jersey. have you seen this one if bruce turkel is here to sort it all out. smell as little funky to me. at the end of the day it

those of you that heard of elon musk. he is the guy who invented taz land has been in the news a lot for these big projects. i would like to to think up a guy like you on musk as today's alfred beach. if you think about what alfred beach did even though he did not build the first subway because it only went one block and didn't really become a subway but what alfred h. did was set in motion a dream. he set in motion this idea that we can do something big. he made new yorkers believe that this could happen even though it didn't happen for another 40 years or so. just the idea that he put out there that we can build a subway and we can do this was the deal. people like elon musk who put forth similar bold ideas that some people laughed at and mocked and he put this idea of building a supersonic electromagnetic train that would go between northern and southern california. a lot of people laughed and said it would never happen and it's impossible. it's not going to happen probably in any of our lifetimes but those sort of peo

musk saying he loves it. 150,000 people have seen it so far. very clever. >> yes. very talented people interest there >> still 'd go going one better. a walrus kept pace with jim harbaugh. >> coming up with a sequel might be better than the original. back in so i was basically uninsurable. now that i've got coverage, my doctor is a phone call or an e-mail away. i'm in. [ female announcer ] everyone deserves health insurance. are you in? find free, confidential, local help at coveredca.com. >>> coming up at 6:00 new information on that fatal shooting of a she have's deputy in fort bragg. also, stepping up to help some san francisco cops facing corruption charges and a new world in video gaming. it's coming up on abc7 news at 6:00. >> a walrus here in the bay area getting national attention at it again? take a look. >> yes. this is a trim 1750 pounds and has pretty good form during her push ups. >> wow. >> maybe she'll come out with a workout video. >> she's in good shape. thanks for joining us i'm cheryl againings >> see you again at 6:00. >>> welcome to "world news

elan musk is being sued in ohio.much more on that fight with the auto dealers in a moment. ♪ "in the loop"hing live on bloomberg television, streaming on your tablet, and at bloomberg.com. elon musk has been selling cars directly to consumers rather than automakers. we will have more on that story in a moment. we will be back in two minutes on "in the loop." ♪ >> welcome back. you are "in the loop." i am betty liu. we are on the markets. scarlet fu has futures right before the bell. >> with no economic data to takingf, futures are their cues from overseas. china had an unexpected plunge in a february exports, plunging 18%. down 1.4%.res are the export drop plessy depreciation in the japanese yen will hurt china for copper. we will back on the market again in 30 minutes. >> these are the top 10 traits you need to know about. 10, dreamworks animation. this is the studio behind "shrek" and "mr. peabody and sherman." the movie still lost out on the top slot in north american theaters. the warner bros. action movie "300:

everyone is meeting up -- beating up on russia including elon musk.ou can be sure that there are u.s. companies and their thing playing out. those that are doing business pretty nervous about what is being discussed in washington. >> it seems again ongoing diplomatic aim. thank you to our washington correspondent peter cook. the risks and the rewards are different. gaming reporting that they had losses. tell me about what is going on with boyd. what is up with them specifically? >> the results are in line with expectations. the take away is that las vegas continues to better their locals business as well as downtown. there is a pretty high margin flow and given some cost-cutting. that is a key driver for the company. >> is everybody benefiting from the change in las vegas? biggests the beneficiary of the trend. vegas is getting better and we have low supply. things are looking up. >> what about the pipeline, tell me where they are spending their money? >> it looks quite strong. a $2.9 billion budget up from 2.6 billion and macau. that is a huge cataly

the bay area by a group of recent college graduates has gotten the attention of the founder, elon musk. >> this video was posted called "modern space ship" and received 120,000 hits. the spot features a little boy getting into his dad's tesla in the garage and imagines flying a space shift. the college graduate behind the electric car commercial says that they spent $1,500 to make it shooting it in contra costa county, and elon musk said "i love it." >> he wouldn't, that is adorable . >> next, stay tuned. a radio station is playing a hot song around-the-clock and is spark bigger promotions, some fans could be very and the first thing that came to mind is, "can i afford to go to the hospital?" now that i've got covered california, i know that if something happens to me that i'm covered. i'm in. [ female announcer ] everyone deserves health insurance. are you in? find free, confidential, local help at coveredca.com. >> the secret service is on the look out for a fake, he tried for catch a free ride all caught on camera. >> who doesn't feel cranky with too little sleep? a lack of shot eye

in this case, elon musk is space sex.d savings, innovation and calling the current program on sustainable. take a listen and what he had to say about the current situation. agencies are simply paying too high a price for lunch. the impacts of relying on a monopoly in 2006. space innovation stagnated. called and prices have risen to levels that are unsustainable. 's eelvair force -- contractors like united launch alliance and space x sent satellites into space. right now, does a $70 billion valuation on that project. only united launch alliance has approval to do so. right now, space x is working with the government to get that certification. a united launch alliance in the meantime is trying to defend its as theas the monopoly, incumbent. the ceos is worried that competition might not actually mean savings. take a listen. >> i believe leveraging the demand of the commercial sector is smart. but relying on commercial demand to enable national security carries huge risks to the rocket supplier and the government customers.

. >> even elon musk was talking about russia. he played the russia card in washington.hat did the head of tesla motors have to say about russia? >> the situation playing a role. elon musk was on capitol hill testifying at a hearing on the bid to win more of the government's satellite launch business. spacex is competing. it is a joint venture between lockheed and boeing. he pointed out after the hearing that united launches rockets using engines. >> we are contemplating sanctions. it does not make sense to reward russia with a huge multi-hundred million dollar contract for rocket engines. that would be inconsistent with policy and now the red thing to do. sounds crazy to me. >> united monster line to dismiss mosque. they have blueprints to build their own if needed. everyone is beating up on russia including elon musk. you can be sure that there are u.s. companies and their thing playing out. those that are doing business pretty nervous about what is being discussed in washington. >> it seems again ongoing diplomatic aim. thank you to our washington correspondent peter

how many other states could gang up against elon musk? and is it hurting consumers more than anyone else? >>> busy times for sarah palin. the former alaska governor going rogue, making cool 6 figures in the process. do you ever have too much money? she doesn't. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reduc

. >>> tesla ceo elon musk fires back at governor after the state bans tesla sales. >>> who says luxury is dead? coach is better doidoing better rest. no two people have the same financial goals. pnc investments works with you to understand yours and helps plan for your retirement. talk to a pnc investments financial advisor today. ♪ a ♪ ♪ >>> oh, look at the faces here. >> i don't know what -- who was that? guy, you would know. you would know. >> just help the people at home. >> isn't it britney spears? >> i got plenty of time for britney. >> i'm gonna to vegas. >>> time to hit today's top trends. new york is taking a page out of new jersey's playbook. they say he wants to ban tesla from direct sales, telling the new york post, quote, my hope is that we are going to be the next state, i feel confident, tesla's elon musk took a direct swipe at a new jersey governor. saying, quote, the ration nail given for the regulation change that requires auto companies to sell through dealers is that it ensures consumer protection. chris christie's camp has no response. following new jersey, new yor

musk blogged that dealers only sell what they know.s hard to sell a car from a new company when people are so used to the old. they revert to selling what's easy and it is game over for the new company. let's bring in our next guest who is the head of the new jersey coalition of automobile retailers. jim appleton. great to have you with us. right now in the state, it is unlawful to direct sell a tesla. would you be against having that law changed because you point out tesla is only 0.1% of sales in new jersey anyway. so, what's the big deal? >> the big deal is the law's in place not to protect dealers and not to prevent tesla from being able to market their cars directly to consumers. the law's in place to protect consumers. a lot of people and tesla argue this is a dealer protection statute. nothing could be further from the truth. this was put in place more than a decade ago, to ensure and promote vigorous price competition in the marketplace. and more importantly that we put place the fox in charge of the chicken coop. think about i

elon musk wants to get in the pentagonof sending satellites into space. hill is going to take his case -- make his case. he called out his chief competitors russian engines. yang yang joins us now with the highlights. a south african playing the u.s. nationalist card against russia. >> we sure do. when you think about it, you cannot really blame him one a 70 billion dollar military satellite launch program is that a currently. that program is dominated by its competitor, united launch alliance. today before lawmakers, musk said that his competitors's atlas five rocket is made with engines made in russia, and he says that now with everything going on, if not the time to let them hold onto the exclusive contracts. >> we have severed military ties with russia. we are contemplating sanctions. it doesn't make sense to reward russia right now with a huge multi-hundred million dollar for rocket engines. that would be inconsistent with policy and not the right thing to do. it is crazy to me. hey, we are spacex. we are made in america. that comment came at a subco

elan musk cut a deal with both toyota and mercedes.y'll be selling tesla powered mercedes and toyotas. dealers are retailers. day want to sell what consumers want to buy. fortunately in new jersey, tesla enjoys a .1% market share. consumers like the car. those who drive it. they're enthusiastic about. i don't understand why the media is so wild about it. every time elan musk sends out a blog post, you guys go crazy. i don't understand it. >> because we need to get off oil, man. >> yeah, well -- look, here's -- >> that's the reason, by the way. >> here's the story. it's a consumer protection argument. you don't put the thoughts in charge of the chicken coop. that's what the manufacturer model does. >> should that be true in every industry? prohibit any manufacturer from direct selling any product? >> only in industries where the health and safety of the motorist and the motoring public is at stake. if you allow the fox to be in charge of the chicken coop with a warranty and safety recall, you can expect more and worse than what you see

billionaire elon musk, modern electric cars get stopped by a very old law. it could affect the ability to sell to customers. we will tell you what is at stake. in the new new york, we don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com what is this place? where are we? this is where we bring together the fastest internet and the best in entertainment. we call it the x1 entertainment operating system. it looks like the future! we must have encountered a temporal vortex. further analytics are necessary. beam us up. ♪ that's my phone. hey. [ female announcer ] the x1 entertainment operating system, only from xfinity. tv and internet together like never before. liz: a lot of you might own pfizer. it is a wid

but the problem is i'm 44 now, and elon musk is 46. and the problem is he started ebay or something, and then he had pais pga, and he's worth $17 billion, and then he had tesla, and now he wants to send men to the moon. no mars. and this is his wife. [laughter] so it's going swimmingly for him. i'm so happy for him, but no, i'm not. i'm going insane with bitterness and jealousy and craziness. and when my partner says, is everything okay? yes, of course it is! and i'm going crazy. and at lunch i don't really want to communicate. and it's all very fraught. and the truth i can't quite face is i'm jealous of elon musk. and the article was really nice. it was showing us elon musk's new home, and it was showing us how he's recently started to cook pasta himself. [laughter] sweet, nice things. delightly little detail. -- delightful little detail. we need help with envy. [laughter] it is rife. the news and envy are bound together like ivy around a statue. the two are so embedded. we need help. now, look, i'm not down on envy, although society

elon musk takes his space mission to washington. ballmer, the former microsoft ceo shares his patented doozy as him with students at oxford. this is a bloomberg exclusive. politics, have you listened to harry reid lately? he is mad as hell and he will not take it anymore. a dish, a deal that shakes up the tv business. luxury, apple plus for our eight

and tesla ceo elon musk. launch vehicles actually made in america. we design and manufacture the rockets in california and texas. with key suppliers around the country. the russia main engine and the frame is manufactured over seas. in light of russia's annexation of ukraine's region, and military ties, the atlas 5 cannot be prescribed as providing assured access to space for our nation. >> does spacex have an advantage over the competition? and he appeared with some of the ceos of the other companies in aerospace. >> anything elon musk has attached himself people are thinking of as cutting-edge. he deserves it. i would not be assuming that this is going to follow through. i think the events in russia, though, these, again, make great headlines. but it does not worry me about spacex. >> tesla? grasso? >> you want me to go the rocket car coming up. everything that he touches, to tim's point, seems sexier. i can say that in a fully male version there. i think that everything he touches makes a whole lot of sens

inannot convey the heat people's voices. >> is that you need to elon musk?urs follow a similar business model? tesla is unique, but if you look at the three companies that he is behind right now, solar city -- where he is the chairman, tesla, where he is the ceo, spacex, where he is also the ceo, in every one of those cases, look, they are taking on great big problems. in every one of these cases, the accumulated debt of these companies is massive. of thegreatest subsidies government to business, 20 billion dollars in state aid is paid to the employees of companies who pay the minimum wage. mcdonald's, walmart. 20 billion. $1.5 billion in state aid goes to mcdonald's because of their wages. that is a subsidy. half of the women and men who work for -- full-time in california for walmart receive some form of state assistance. we have these implicit subsidies all around that we tolerate. >> very quickly, do you feel you have a voice in the democratic article? >> no, i have a voice in the progressive wing of the senate and the house. the administration has subst

for people like him on musk who put forth a sort of similar bold, i just people laugh at and mock and say, he but for the this idea build a supersonic electromagnetic kind of go between northern and southern california at 800 miles an hour. a jet essentially. a lot of people sort of laugh and say that's never going to happen, it's impossible. it's not going to happen profit in any of our lifetimes, but those were the people, people who sort of put forth those ideas for big dreams and big ideas are critical today. even if they don't achieve their dream, someone else might pick up another generation behind them. i think that's important to in the book, the inside of addresses that. there was a guy at the rand corporation in california, robert salter, wrote a paper sort of opposing with him on musk has proposed a, something similar, this electromagnetic tube that would run across countries and will go across country in half an hour in a tube under the highway system essentially. will it ever happen? probably not, but again someone like robert salter leads to some like Élan musk and the b

no comment from ilan musk. and many many wealthy people think this is actually a very good way to put their money to work after they're gone. >> like winning the jackpot. i wonder what he's going to do with billions. that's "nightly business report" for tonight. i'm susie gharib. thanks for watching. >> and i'm tyler mathisen. thanks from me as well. have a great evening, everybody. we'll hope to see you back here tomorrow night. >>> "nightly business report" has been brought to you in part by -- >> thestreet.com. founded by jim cramer, thestreet.com is an independent source for stock market analysis. cramer's action alerts plus is home to his multimillion dollar portfolio. you can learn more at thestreet.com/nbr. this program is brought to you in part by a passion for better understanding our world. challenge our assumptions, broaden our perspectives, and completely surprise us, just like public television. bread for the world, an advocacy organization working to end hunger and poverty at home and abroad. hi,

. >> elon musk looking to get in the business of spy satellites. it's a wondrous sensation of clarity and alertness... it's owning your opponent... it's knowing beyond a doubt "you got this"... it's keeping your head down, your eye on the ball, and knocking it out of the park... it's getting in the zone... it's keeping on your toes... on target... on top... focus is staring the world in the face and saying "bring it"... focus is power... focus is life... and 5-hour energy is focus. capitol hill this morning to give the opening prayer at the senate following that his holiness will meet with house leaders shoulding john boehner and nancy pelosi. you'll remember last tweak dalai lama was in the area where he visited cal and santa clara universities. >> elon musk told congress the military is paying too much to launch satellites into orbit. he said there should be competition for business between start-ups and contractors that make rockets. he said quote robust competition must begin this year and that it will save taxpayers thousands and thousands of

musk does not use franchised auto dealerships.ear ago, tesla received permission to open two stores in new jersey in new jersey and the state auto dealers responded. that is chris christie, car dealers want the motor vehicle commission -- and they have they say the model is bad for competition and the commission said they would block tesla from directly selling its automobiles to customers. mmusk accuses chris christie of going back on his word. way, there are two other being who band teslas sold record to customers. you own one. >> i do. i bought it in new york, westchester county. it was simple, i bought it at the westchester mall. >> the short hills mall is where elon musk is one of his new jersey shops. what do you think about this? >> i think it's a great car. consumer reports rated at 99 or something. it's fantastic. i think it's a silly discussion. if they don't allow them to sell it, they will show room it and not for the price on it and tell people they have to go to connecticut or new york to buy the car. it will not sto

this morning elan musk announced the company has been outfitting tesla since march 6 with a triple under body sheechld including a hollow bar, titanium plate and a third aluminium shield. >> if you run over something on the highway, tesla claims this is going to push things out of the way rather than going through the battery pack. >> this is video of the testing the changes were done by musk reluctantly. he stated it's not needed but the public misperception fed by disproportionate coverage by the media led to changes he wrote with a track record of 0 deaths or serious permanent injuries since our vehicles went into production six years ago there is no safer vehicle. upon request or during a normally-scheduled service. >> after fires consumer reports picked the model s as the best car, over all, for 2014. >> just days before we honor labor leader cesar chavez a key player from united farm workers movement is visiting the bay area. he spoke to students at pittsberg high school. despite the gains made over the decades saying there is a long way to go. >> there is are the of repression. an

. >> when we come back, we will talk eli and must -- elon musk.washington making a push for military. all the details coming up. ♪ >> welcome back. i am in. --n musk to two capitol hill took to capitol hill to make a push to enter the satellite launch market. between thely rocket chief? >> you can certainly say that. , ceo of spacexk on capitol hill making the point he wants to join the military spy launch program the government has. right now it is dominated by united launch alliance. sitting said he was next to the senate appropriations subcommittee chairman on defense. xhere he said using space would save the federal government $1 billion for taxpayers every year, and did that while sitting next to his competitor and set the current state of the market is unsustainable. >> the air force and other agencies are paying too high of a price per launch. space launch innovations stagnated, competition stifled, and prices have risen to levels that general shelton has called unsustainable. >> at issue is the air force eel v program. that a $70 billion p

you and elon musk in jeff bezos, what is your vision for the future in space 20 years from now?dously exciting. because private companies are running space travel, we want to enable you, me, as many as possible to become astronauts and have a chance to marvel back at our earth. another inountry to a fraction of the time. be able to colonize other planets, have hotels in space and do wonderful things and create massive satellites that can transform things for the better honor. exciting days -- for the better on earth. exciting days. spaceshipsing the altogether. they have all been tested. there will be a couple more test s and then we will be up and away. richard branson, we actually have video of their last test flight in january. with each of these, they are gathering more data, super.net -- supersonic data, they have an experimental license from the faa, but not a commercial license. me,ou don't know this about i was at the first launch of the first test flight when it went into orbit. that was back in the 1920's. 2004 as i recall. >> a decade in the making for him. it is a fa

losing complete run by a handful of people, some notable people like reid hoffman and peter teal, elon musk gets credit for running paypal. it was losing boatloads of money. it was successful but losing a ton of money. ebay acquired it because their own payment solution was failing with customers and they recognized if they wanted -- ebay wants to control the payment on ebay, they could not let a competitor like amazon or google or apple or visa or somebody else acquire paypal. they would be willing to lose money on paypal to keep it internal so they could control their own destiny on ebay. >> i wonder if you could make the case for ebay keeping or not keeping paypal. if you are asked to give an analysis, what would your thoughts be? >> ebay is a fabulous company. the addition of paypal made it even stronger. you have seen them grow enormously in the past three years as partners. from our perspective people like to shop but they do not necessarily like to pay. anyway, you can make it easier for someone to make the transaction happen it raises everybody's stock. ebay remains agnostic also. w

but it sounds too cold to say elon musk.vers and shakers are that don't have elon musk's money and have his ideas, i think that would be a better way. stuart: well said. that's it for our halftime report. charles, you're still here. the viewers wanted your opinion on under armour. that's been going -- >> it has been going straight up. what we're seeing today besides the biotech stocks this week, the momentum things have gotten wobbly. if i'm in under armour already, i hold the stock. if i'm a trader and i own under armour, i take profits. if i haven't bought it yet, i wait. this stock is significantly above the 50, i want to see it pull back maybe to $115. if it holds there, that would with a new entry point. trader, out, long-term holder, hold. would-be buyer, wait. stuart: this is one of the stocks our viewers asked you about. >> yes. stuart: okay. now i want to move on to the stock you recommend, you think you're going to make money on this thing, it's called silicon motion. >> they do what they call microprocessors and f

>> people like elon musk are amazing.look up to other entrepreneurs like jack dorsey of square. i look up to people that are more into arts and science as well. anyone that is trying to hold things that make the world better, i think it is really cool. >> specifically, who has given you the best advice along this journey? what has that advice been? >> one piece of advice that i got was actually from kevin hart m.. founded xoo i told him that i knew this would not be a big company and he said why not? so may people usually give you reasons while something will not work. it he said imagine what if would work and operate that way. i always appreciated that advice. >> that was my interview with --erest ceo ben silberman pintersst ceo ben silberman. they have been testing advertising and have set a goal to start making money this year. companies from amazon to facebook are showing an interest in drone technology. but what about drones for consumers? we will show the must own drone for enthusiasts next on bloomberg west. ♪ >> w

i do not fault elon musk for making a wild business decision.e need to improve california's economic climate so we are in the hunt. if you look up these windows, we have some natural advantages in california. nobody wants to move to texas. people love california. we do not need to be the cheapest place in the world but we need to be competitive and we are not. >> apple is building in arizona, apple in texas. how would you get them to do california instead. >> the regulatory litigation complex in sacramento is out of control. hundreds of regulations every year. it is like a giant ball of yarn because bigger and bigger. we need to reign that and. when legislators want to build a new arena, they take it from the environmental review because they know it will cost so much more money. if it is good enough for their projects, why not enough for apple? why do they play by a harder set of rules on the politicians get a better set of rules? that is not there. >> what specifically about tax incentives? >> we do not cap to out texas texas because people wa

. >> elon musk has had started a company is like staring into the abyss of death. have heard it compared to swallowing shards of broken glass. what was it like for you? what is your view on starting a company? >> it is a long road. i think most things in life that are worthwhile take a while. it is funny. my parents are doctors. both of my sisters are doctors. that is minimum an eight year commitment, often 12, just before you're ready to be the most junior doctor out there. that has in the back of my mind. i think it is a long road for a lot of folks. if you are fun and you feel like you are learning, i think now is a great time to try it. >> was there a moment with pinterest were you said now i need to make sure i do not give up? in the early days it took a little while for things to catch on. right? >> there were a lot of times that you get a little bit discouraged. for me what was really helpful was having people around me that i trusted and they cared about me first and the company second. folks like my girlfriend then and now my wife. my cofounder. mentors an