of the year. why would you have to globalize ge? wasn't it already global? >> no. people forget, you see but, the decade of the 90's was a quintessential american decade. this place was booming. it was easy to grow your company. an old though we were company, we were not as global as we needed to be. that was one of the central missions. today we are maybe the best global company of any multinationals. 70% outside the united states. we have a very strong footprint in any country that matters. there are two ways to globalize. go to washington dc and argue hiretrade deals, or to 10,000 people in a country and say, let's go. that has always been the approach we have taken. i would say we are good in china because we understand the five-year plans. we built a strong team. we go outside of shanghai and into the country, and we see that every country we are in from the bottom up. david: what was the culture of ge that you inherited and how have you tried to change it and how successful was it? >> it is a study in how to you make scale. inherently, size means bureaucracy.

david: there is a lot of talk about culture. you said ge had a strong culture. at did you decide to keep and what was ok to leave behind? margaret: i think one of the things about ge is delivering results. we brought that with us. aside from that, we really wanted to create a different feel inside the company. it was interesting because we did the ipo in july, and i brought my leadership team together and said we are all going to work on culture. they were not all looking -- they were looking at me like what? i was like, we have to create who we are as a team. we spent a couple of days together and brought people in from the purpose institute to think it through. we came up with our values pretty quickly. david: so you listened to a lot of people. inevitably the ceo determines the culture. what values created this culture, from ge, your childhood, parents, brothers and sisters? margaret: people ask me this question all the time, what value is the i lean on. one i think it is the value of caring. i think when you look at our customer base, we deal with customers f

that they had the protection because the stock hasn't been able to get out of its own way. >> didn't we know that power was weak at ge >> yes and everywhere >> are we really learning all that much new today from flannery about power we have also thrown out the notion that maybe certain parts of the business that, you know, wall street has thrown a shoe at, are worth a little more than maybe people are thinking. takes you back to wondering whether parts are worth less than some are thinking as well >> a lot of ownership of ge is the dividend investor. the dividend right now, you cannot view the dividend as anything other than a moving target there's no sustained visibility in what that dividend is going to be. it's all based on, okay, what's the portfolio going to look like so if you're a dividend investor, you're not going to have the comfort you had historically in this name. >> scott, i have been consistent i still think single digits for ge at some point when you look at the debt, you know why i think that. we talk about fundamentals on this desk every day. you look at the fundamentals of ge as a company right now

of them. >> coming up, ge down 15% from two-week high. here to break down charts. slew of bad news from tesla, consumer reports review. the stock still rallying why? a special report later, something happened in bitcoin cash that could make cryptocurrency a must own coin tell us what that is and take tweets, maybe even a mean one. we've got lots of them actually. lots of them htwe us @cnbc asmoy."ft ne you're watching new york city times square much more "fast money" after this this is no ordinary coffee. it's single-origin kenyan coffee from the nyeri highlands, 6,000 feet above sea level. but how do you really know that the beans journeyed to the port of mombasa and across the pacific? that you can trust they're 100% authentic? ibm blockchain. a smart way to track every step, ensuring this coffee did indeed come from 6,000 feet above sea level. and not a foot lower. ♪ ♪ >>> welcome back to "fast money. more bad news for tesla as model s was involved in a deadly car accident let's get to contessa brewer in the newsroom with the very latest contessa. >> california h

shares of ge and lab tech both rose in today'sg. trad ge is up 10%, by the way, over the last two months. >>> from a stock that is rising to a sector that is falling. consumer staples is the worst performing group this ar. th sector is down 13% while the s&p 500 is up 2. this a sector to steer clear of or are there torgains waiting e bought? here to talk about that is nancy tangler, chief investment officer at hartland international. welcome back. nice to see you. u, >> too, sue. >> are you finding value in this particular area? because it has been a really rough patc >> it has been, and as a value manager and someone who i contrarian by nature, i would like to say -- i would like to pounduthe table, i'm still concerned that there's structural change going on ith group and it's not helped at all by a stronger dollar. so there are a few places we like, but not the entire group. >> why have they gone down? what happened? >> hey,bill. good to see you. >> you, too. >> so i think a couple of things. certainly there's a pricing -- there's

not ours, the city of boston's, but all the nonprofits. gestment of $50 million with a first came here, but more importantly, i think, in some ways, having the power of ge, the executives, is important. tom: be embedded in the community? mayor walsh: yes, and we think they would be. having a company like amazon come to boston is exciting. tom: what does boston do to get to where it needs to be should amazon put their second headquarters here? mayor walsh: we are working on it. it is not just roads and bridges. it's education and schools because people want to live here. it is housing. we launched an initiative to create 3000 low-income units by 2030. it is about housing. that is the infrastructure we have to look at. one of the things i heard about amazon, when they went to seattle in the beginning, the housing product was not there. we are doing that in boston. our goal is to create more housing opportunities for boston, and i am partnering with our cities and towns adjacent to boston. that is important to any growth. companies are going to

friends- i had a lot of that were on the ge board. matter is, where the hell were they? whatever he did, it was blessed by the board. david: and his appointment was blessed by the board. ken: i voted for him. i was on the committee. i voted for jeff to get the job and then as a director, i voted on the board. the point is, how many years the you need to watch somebody before you say what is going on? breathed every single aspect of the company. , they would point go from business to business every 90 days, who is your success, what are your problems, what can we do to help you at ge? they drilled and drilled. he ran the company. what jack had was this uncanny ability to manage people and manage businesses. that was gone. it was all strategy. we're going to do this and do that. they were in the water business and got out of the water business. david: this takes me back to your book. if capitalism is going to work, you need managers like that and we don't have many of those kinds of managers. ken: i disagree. we have a lot of people like

because senior ge official has now confirmed to fox business that the dividend, the almighty dividend of get every investor that's in the stock counts on every quarter that the dividend could, could be cut, the senior official says , if the cash flow situation at ge does not improve, if mr. f lannery, ceo, the plans to sell stuff, reduce the footprint of ge, get more money in his pocket, if that doesn't materialize, the dividend is basically on the table, we are told and confirming our earlier report. we should point out that john fl annery closed his store yesterday when he essentially side-stepped the question about the dividend saying basically everything is on the table. i won't tell you what's going to happen but i won't take anything off the table. stock went down 7% and recovered when cnbc reported there are no plans to cut the differ didn't but we're told by senior people inside ge that while there may be no plans that the possible dividend cut is on the table clearly if this situation for cash flow at ge does not improve. now another sort of interesting situation at ge, just tells

. >> we're going to talk to kudlow at the top of the hour don't miss it. >>> ge is up in the premarketthe company reached a deal to merge the transportation division with wabtec the latest in a series of moves to prune the portfolio shareholders will get a 50.1 stake in the combined company, david. as you said, likely more to come. >> yeah. we've been talking about for some time ge is looking at the entire portfolio you had a number of new directors come in. the guy who ran data for many years. they're taking a look on things. what i heard, the company is moving what conceivably will be a far larger announcement about its future that might involve other potential divestitures we've said this -- i've been saying this for months this, however, is one that many anticipated, jim, would happen, but the sense is that the price that they're at least -- according to the business, it's a reverse morris trust it won't be taxable to ge shareholders who will own 50.1% of the company and get a payment to ge, as well, from wabtec, this is a number they say, above, what analyst said estimated the bus

$20 billion out and you're getting only $2.9 billion from the transportation which is a storied unit of ge more to go. and that's a problem with this. we do have to mention the biggest financial boom when it comes. did you watch the royal wedding. i saw a few pictures. the pageantry is there. with a huge hit. 30million americans tuning in life. in the royal wedding as a business was huge. but the sale of all of that. raked it in. and just free pr. bring a $400 million for britain. one of the best selling souvenirs the 49-dollar swimsuits imprinted with the pictures of that bride the bride and groom. right behind those in popularity. was the prince charles one piece. we are up 300 points right now. we will be back in a minute. i've always been about what's next. i'm still giving it my best even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'm up for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-

the biggest, wet ally cash flow out of ge is the dividend. >> arrigo. thank you very much for a lot of breaking news. i hope everybody was tuning in. go to the website for all of charlie's work. the closing bell will ring in about nine minutes. it's the first day of fleet week. stocks will help the portfolio get into shipshape. countdown we'll be right back. it took guts to start my business. but as it grew bigger and bigger, it took a whole lot more. that's why i switched to the spark cash card from capital one. with it, i earn unlimited 2% cash back on everything i buy. everything. and that 2% cash back adds up to thousands of dollars each year... so i can keep growing my business in big leaps! what's in your wallet? where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. the closing bell will be ringing in about seven minutes. we are actually pushing session highs. it was down triple digits. now the dow is

what do you make of ge this morning? you know, that's a company that's a bug in search of a windshield i like what ceo is doing but the problem is -- [laughter] >> that was good but of laking here that was goods. >> thank you. thank you coming from the left bank i have to do something for a living riewght. here's the -- thing about ge is that thing has been a disaster for a long time stuart i'm not ready to place they trust in that stock i don't care what they sell off or how they do it until they get revenues back and ceo really gains his footing it is nothing more than a rift or speculation at this point not the investment or coveted dividend it used to be. paid to company as evil kind of company very much opposed to there. but look at this stock is up 1% this morning. what do you make of google? >> oh, i still think this was a great piece pure and simple laws are created to deal with antitrust associate with manufacturing 100 years ago. washington is outmaneuver out negotiated strike outis strategd because it is not a

ge gets anything else. scarlet: it is going to be of attempt -- a template for how they proceed? ed: there's a lot in terms of smaller divestitures and industrial solutions, but these are kind of incremental and this of -- muchore piece more importantly's of the gmm . based how to structure tonsactions that gmail have do but not ones shareholders are going to like that much of the other thing is genius cash, he has $130 billion in debt and it's not really going to move the needle. the big things they can do is we can see aviation is a very big business and is not leslie they can find a buyer for the whole thing and it would probably be something like this for the reversed it into some other assets. scarlet: they plan to sell $20 billion in assets. julia: this is just the beginning. jpmorgan looks good in a vacuum, but you hardly reach a glimmer when it comes to deleveraging. ed: that only does they have this setback, but they have this enormous pension liability. the real worry is a selloff all becomessets and it just a liability vehicle which no one wants to own. scarlet: no

back on track. >> the comments people are pulling out of this is there is no quick fix and the power market. to me, that should not be news to anybody. ger they expect weak demand in the power market the next couple of years. today, he said through 2020 they are not looking for a big pick up. the number that stood out for me was a 10% profit margin target in the power unit. that is down from a previous goal of low to mid-teens. that is important because moody's has highlighted a low to mid-teens profit margin and that power unit as an important goal. failure to reach that could because for a downgrade. flannery said it is a timing issue but the question is, how much patience to the credit rating agencies have? >> a motor group has canceled plans for an $8.8 billion deal in with an unprecedented victory for shareholders. the second biggest conglomerate has plan to restructure to pave the way for succession but is now on hold. what are shareholders winning with this decision? >> elliott management, the active shareholder leading the fight is asking for $11 billion in cash return to shareholders. they also wanted increase in dividends, ind

life size division of ge i need to go to mark in wisconsin. >> caller: good afternoon, "mad money" jime you? >> good. how about you? >> caller: excellent my question is general mills. >> holy cow, that is just ridiculous this company is not going under. i have got to tell you, i was wrong on general mills i will double down here. don in texas. >> caller: hello, big booyah too you. my question is, the past few months has only been between 98-103 texas instruments. >> one day the negativity around the semiconductors are stop. and then you are going to say why didn't i buy at 102. august from new york. >> caller: booyah from new york. my question is fire eye. i i love that cohort and that, ladies and gentleman, concludes the "lightning round"" >> announcer: lightning round is sponsored by td ameritrade it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to b

they are bringing in 80% of the geto -- of the ge of the fentang into the united states.here it's at now. i call upon congress to back the president up to secure the border to deal with the opioid crisis in america. charles: keith ellison was seen in a t-short advocating open borders. there you have it in your face. we are not going to cooperate. it's an interesting way of thinking. >> congressman ellison is concerned about the ballot box implications of illegal immigration. but the sheriff is right. we need an effective deterrent. asylum which nobody is talking about. 10 years ago only 1 in 100 was claiming asylum. now it's 1 in 10. charles: tomorrow the west virginia vote will be critical. neil cavuto will have a special tomorrow night. lou dobbs is next and he is the man. thank you very much. lou: president trump fighting back against the mueller witch hunt, threatening to expose their many conflicts in court. devin nunes vowing to hold jeff sessions in contempt of congress for his stonewalling of congressional demand. the president set to announce tomorrow whether he'

that makes up 29% of ge's revenue.see weakness in the market which does include these turbines. him coming out saying this in the presentation in addition to saying things about that surprising insurance chart they took in january, that skewed investors. he says the problems will probably not go away in the future. that is not good news to investors. shery: fair to say, ge does have units that are strong still. like aviation, health care units. kailey: he did say those units are doing better. trying to put a positive tone on these things. power is a big heavyweight here. you can't dilute to that too much. david: we will continue to follow ge. thank you so much, kaylee. -- you can sign up for the balance of power newsletter at bloomberg.com/politics or get the latest on blow -- on global politics in your inbox every day. it is etf iq,up, the first show dedicated to the change rate of fun spirits carla who looks at whether strategies are that smart after all. if you missed out on any of the charts we showed threat the pr

. >> shares of ge rising the most in a month after ceo john flannery took the biggest step yet in hisd plan. ge will merge its century-old locomotive business with a tech valued at $11 billion. they are going to maintain a majority ownership in this tie up. >> that is right. it is a complicated deal. what they are doing is selling assets to wabtec and taking other pieces left over of the locomotives business and merging that with the wabtec and their sold assets, and then shareholders will own 51% but they will be largely passive. wabtec will keep the name. it will keep the wabtec management. >> ge shares are falling the most in six months. the ceo flannery is not finding it easy to sell turbines. >> sunday motor group has canceled plans for an $8.8 billion deal in with an unprecedented victory for activist shareholders. the second-biggest family-run conglomerate has plan to restructure to pave the way for succession, but that is now on hold. what are shareholders winning with this decision? >> well, elliott management, the active shareholder that is leading the fight, is asking for $

a positive deal for both of these companies. this is gegood on some of its promises for turnaround as they streamline and make their business more simplified or they are essentially merging their locomotive business with -- and this $11.1 billion field. they will retain as 16 point -- -- they'retech, they rail equipment services company, they will nearly double their revenues. it will allow them to better address the cyclicality of the business. the company is saying this is a once-in-a-lifetime opportunity. it will transform their business. stock hasint, ge's been transformed. chart,ake a look at this we see the big downtrend on lots of the disappointment around the company. right now, the stock is starting to put into the bottom. investors are really liking some of the improvements this company is starting to show. again, making good on one of the promises and simplify. >> lots more to come. ge transportation is complex for us. >> this is one of their smaller businesses. very profitable. nearly a 20% operating margin. there is mining and

of ge we have the shares trading higher as investors consider that half the turnaround is continuingbe in way. dumprday was asked to around the comments. finally, a lot of strength for the defense sector. the stock of the hour, we will see that shares are popping higher up, 1.2 sent. this of course on the surprise from president trump pulling out of the summit with north korea which has led the defense sector and this is a defense contractor that receives the most amount of revenue of any contractor, it is about 30% and you see the shares rallying in a nice way. talking more about the defense sector overall, i would like to bring in doug of lubricant intelligence and princeton. thank you for taking the time. the news about president trump pulling out of the summit with north korea, is that headline risk bottom line or, what is the influence here? >> it is important to go beyond the headline. there is a lot of noise, much longer than that related to north korea. you look at the major western that remains in terms of a potential to have some type of peace negotiation over the long-term

clearly there's a lot of talk inside ge that they still need to repair cash flow. interesting is that the deal yesterday, people are saying i miss represented his cost cutting targets that he wanted to get rid of $20 billion of assets over the next year or so or two years and that doesn't necessarily equate cost savings. you know it's kind of a lame thing to say because listen, you could theoretically get rid of a $10 billion asset for a buck, and you're halfway there. i'm just saying that. the proof, the real proof here is in the amount of money and cash flow you create from these deals. liz: i do want to make clear for people who don't understand. last time they did a dividend cut they went from 31 cents to 10 cents i believe, quarterly. so people who had a lot of this stock and depended on that dividend to pay them cash have watched that dwindle, dwindle, dwindle. but if you're one of the wall street type of people, you look at this and you say all right, they're getting their act together. that might be what's positive for the stock. that's what you're saying?

one example that hits home to me, is in albany this morning one of our biggest employer is ge where they make steam turbines. they employ thousands of people in good paying jobs. one of the few big manufacturing sites left. a few years back they signed a 5149, they will let them sell them in china, it's a huge market. so they sign want to make them in china, 5149 with the chinese company that clearly the government is in. is great for the ceo but i objected to what he did here. they make good profits because they get an exclusive profit but then china stole the amazing technology that allows these to be the best in the world. to spin fast without overheating. those jobs are gone and that story can repeated over and over again. so i thought, good for president trump for getting serious about this calamity. i noted my views on china and how we deal with them economically closer to president bush or obama both whom i felt were far too soft. he acknowledged that in a note. now, disappointingly, maybe not surprisingly, president trump is backing off. over the weekend we saw two incredible exa

moving and affecting equities, that's not in play >> let's talked about the fundamentals of one company in particular, gems like there was a lot of disappointment yesterday when john flannery was walking back some of his expectations >> yeah, that's concerning i don't think he intentional walked back. ceos have to be careful when they talk outside of earnings. the narrative changed in ge. when he was down at 13, folks called for single digit. mar mario gobelli came in and talked about numbers. it's amazing because he talked about the flat profit specific to the power unit. he didn't get a chance to talk about the 6 billion, $7 billion of free cash flow. it is not as bad as it looks, but the narrative did change from a months a ago >> ge used to be a corporate bellwether, they lost a lot of influence in the market over time right now, what is the stock you're looking at most closely as the indicator for the health of the overall stock market? >> i will agree with you that ge lost its luster, but it's still in our essential 40 portfolio. the bellwether used to be apple, but now i look at amazon amazon prov

of things. in the meantime, why do i want to hold on to ge because of that, you see it just kind of -- it goes up 1% one day and loses a half percent for the next four or five. that seems to be the way ge is going. this is an $11 target. i said single digits if it gets near $11, i'm pretty close. >> what we keep doing is debating, is the worst over for ge most of us, we agree the worst is not clearly over. and the communication that you're hearing is not from ge, if you're looking for a positive catalyst, all you're doing is going from analyst to analyst. >> just because -- with all due respect, we like having them on the show and appreciate and respect his opinion, just because steve tusa says the worst is not over for ge doesn't have that in stone >> that's my point i need to hear something that gives me a high degree of confidence from the company itself that the worst is over. we have not heard that just yet. and that's the problem >> i hear you. there are now questions about the history or the future of, again, of the dividend things like that >> the only positive commentary doesn't come fro

. >>> shares of ge slammed after comments about the ceo's company outlook. and tiffany's sparkle target tumbles and git giddy up ralph lauren the retail detail on their earnings as "power lunch" starts right now. >>> welcome to "power lunch. i'm michelle caruso-cabrera, stocks are sliding today testimony dow is down almost 170 points at its low. it's do you dipping in and out of negative territory for the year spotlight is retail. lowe's is soaring 10% as a hedge fund titan has taken a billion dollar stake >> and bitcoin has taken a sharp drop this the past hour or so. now over to tyler in los angeles. hi >> hi michelle, and welcome everybody. i'm live at the disrupter 50 road show here in los angeles. what is the disruptor 50 it is a very shektive process. 981 companies nominated this year autos every sector of the economy. we have pared that number down to 50, the most valuable ever, combined valuation of $308 billion. coming up, the ceo of thinks and listener and they don't spell it like you think or listen. listen shaking up how we think about wi-fi and

that is going to put a floor under oil which means ge should have no trouble finding buyers for pieces ofaker use. police lose that stupid name, ge i thought ge would be once again stuck buying high and selling low. pretty storied let's say agglomeration. there is just not nearly enough demand for their natural gas power plant going forward. else som is the many reason the bears are sticking to their guns the mortgage business is so bad, long-term care i hope those are done. the price of oil up. natural gas prices through the floor. hope springs eternal for ge power. i understand the bear thesis the bears need to wrap their heads around ge. geo p geo politics is now giving flanery a huge break if he doesn't, frankly, that is inconceivable to me. but then, again, inconceivable was the province of flanery's predecessor, not flanery himself. stick with cramer. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. >>> let's be obvious that is the theme of tonight's show an obvious oil

basics of engineering for their early education years with the help of volunteers and guidance of people in bmw, ge, and michelin who are some of the m leading tech industries in greenville. >> host: jim fallows, let's bring up automation and trade and it may eliminate jobs and schools cannot prepare students for other kinds with the creation of high schools and again after world war ii and the g.i. bill but that won't happen soon you write and whichever party holds the presidency the other will hold enough of congress to make, and measures of any sort hard to push through. >> guest: yes, the big picture economic issue here would be we all know that in the 50s and 60s there were lots of americans that work in the giant factories that aren't there anymore. if you go through ohio and michigan and new jersey you see factories that were once they are but aren't in the jobs -- for the children of people whose parents were working those factories are in what we think of it as of vast tech jobs. the wind turbine industry is a huge job creator and increasingly in the center of the country of aircraft manuf

of them around. badgive someone a gun and a ge. of course, most of them are in government. most of them that think they are so important. they take themselves so seriously. you know those kind of people, don't you? -- about lincoln said because at every leadership position, there is some degree of power. right? we are reading about it and seeing it on the tv right now, this morning. in every leadership role, there is power, right? so, president lincoln wrote about leadership. it is not only how you use power , it is how it uses you. very current, isn't it? think about it. some of you are in positions of power right now. and later on, you will be in positions of much greater power. it is not only how you use power, it is how it uses you. and then, number five, the most important of all. our word is our bond. if our word is no good, what else is there? is no good, what else is there? if you have integrity, nothing else matters. integrity,ot have nothing else matters. and now, my anna, is going to tell you about the true meaning of freedom. [applause] anna: unlike my husband,

it's the leaders of ge, ford, fiat, chrysler, nissan, i can go down the list, about a dozen of them discussing standards and california threatening a lawsuit if the trump administration rolls back those standards. the automakers for the most part are in favor of somewhat of a rollback. they just have to find a sweet spot that they agree on with the administration and something that wouldn't essentially create two different marketplaces between the 49 other states, the degrees trick o -- district of a and california. this comes as the nafta negotiations are ongoing. some of the discrepancies deal with autos. for example, the u.s. wants higher pay for those who build automobiles. and the u.s. also wants 75% of a car to be made in the u.s., to fall under free trade. right now, that number is at 62.5%. alongside the automakers, a little while ago the president once again railed against nafta as it stands now. >> mexico and canada have -- look, they don't like to lose the golden goose. but i'm representing the united states. i'm not representing mexico. and i'm not representing canada. but nafta ha

holiday inn express, be the readiest. >>> time now for "trading nation," shares of ge surged to the highestling off the struggling rail business for $11 billion for a broader turn around plan. dennis is here and arie, on the charts, do you see signs of a bottom >> early signs, but more is needed for us. two quick points herement fir m. the stock moved through the $15 level. for traders who play for additional counter trade, place protective stop at $15 final second point for us is that for this stock to really show up in our momentum screens. we're about process and discipline at the least, we want that 200-day to turn sideways ideally higher so we do not bet against it, but placing bets elsewhere >> dennis, first big portfolio move under the new ceo investors think there's more to come do you like it >> somewhat. all i know people are not believing it we saw big buyer of shorted dates options, one month options kpi expiring, big buyers in the marketplace, and until i see something come out of their liabilities on the financial side, other stuff is just noise to me, and that's what the opti

general electric has taken the biggest step in the ceos plan to get rid of unwanted units. geeed to merge its century old locomotive business with a train maker. 2.9 pill -- $2.9 billion in cash. --ended its shareholders said its shareholders will own part of the company. netflix has agreed to a multiyear pact. the former president and first lady will produce films and series, possibly scripted series , documentaries and features. president obama said at their hope is to share stories that promotes greater empathy and understanding between people. that is your business flash update. china's population control policy could be coming to an end. the economic impact of removing the country's performance next. this is bloomberg. ♪ erg. ♪ ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. shery: after nearly four decades, china's birth limit may be coming to an end. the country is said to be considering an end to the controversial policy is in is is here. joining us to discuss is dan maas, bloomberg opinion columnists. even if the changes do come at the end of this year, we ar

the transaction's valued at $10 billion after adjustment it's the latest series of moves by ge to prune1% stake in the combined company. >>> let's get to bring in our guest host for the hour. senator john barrasso, republican of wyoming. he's also an m.d and senator, just in case, what was your -- did you have a -- >> orthopedic surgery. >> so if one of us trips going over to the chair, you can help. if i get a back spasm. >> in wyoming i was a rodeo doctor taking care of the bull riders and the bucking broncos and the steer wrestlers. >> they need you >> yes they do. >> stay close. so before -- i think we knew you were coming on last week we did a pre-interview talked all about nafta and north korea. that was before what happened with the trade war being put on hold so i don't know how you feel about this how do you feel about it who's in charge? sit the kudlow/mnuchin wing or the lighthizer wing? >> the president joined us last week at the republican policy committee. the week before larry kudlow was there. we continue to talk trade and economy. the economy overall, we have a strong,

situations in your life you had to stand on principles the board of new york city had to fight eliot spitzer took a stand for dick grasso took a stand on gegreatest companies in the world. >> ge is absolute tragedy most valuable corporation in the world 18 years ago, now struggling. you know -- let me go back to grasso for a minute. i loved dick, dick a very close friend my stand in that case was not based on my -- loyalty to dick it was based on my knowing believing my judgment deciding what the pay package should be i believed it then not backing away. >> principles you had to stand up to eliot spitzer. >> a sense i got stood me in good instead many years i had a sense eliot spitzer was evil man i didn't realize how evil one of the things i saw was how he won't only destroyed careers of young people for headlines for himself you got to take a stand with us in a while you got to be counted sometimes it is painful, it happens i will let you in on a little secret i was loving every minute of that fight for a lot of reasons not the least the i knew would prevail a insurance paying legal bills let party go on. >> you had principles that you

. >> exactly, facebook is one of them. ge, caterpillar, coke and pepsi.brandon, originally when apple, the tax cuts when they were enacted, apple got credit because they were going to use the money to hire people. can we tell if they are using the money for that purpose? >> that is something we are looking at. they announced plans to bring the money back, to different headquarters and capex. i think what we have heard from experts is basically, the repatriation is not going to change spending or anything like that. it might change, what we are seeing as reporting is coming out on this, an increase in share buybacks and dividends. shery: what exactly did president trump's tax package to two overseas cash, what was the rule on that? was 35%,rmal tax rate 8% on non-cash and liquid assets. david: apple is telling us what, they do not have any reason to do this? what do they say when you ask, why did you change the reports? >> apple did not respond to comment, but basically that is what we can surmise, is that they are operating under the belief that it is no

to buy sky it is -- general electric has taken the biggest threat yet in the plant get rid of unwanted units. ge agreed to manage a century old locomotive business that web tech -- ge will get $2.9 billion in cash at the closing. its shareholders on a little more than 50% of its -- of the combined company. the firm has agreed to buy luxury hotel owner properties, the deal has that been valued at $4.8 billion including debt. that is your latest bloomberg business flash. what is happening in european equities. germany closed. the other to the markets are opened today. denmark, norway, sweden, hungary, austria, germany. sterling is down. they often move in an inverse manner. we are at the highest level for the european benchmark. since january the 20th. a quick peak at what is happening in the currency market. dollars ascent is pushing the level of sterling down against it, they euro falling against the greenback. this is bloomberg. ♪ ♪ finishing bidet hydrologist three industry groups lower. travel, leisure, and retail among the higher. strategists see from here on to -- the gaugee year has risen

the company could be worth more than $20 billion in shares of ge higher in the markets. cks up 6% right now. later this month at 7:30 a.m. eastern time, bob reich, former vice chairman of general electric. welcome to starbucks has told its employees that anyone is allowed to use its restrooms. the announcement details any person on starbucks property is considered a customer and are not required to purchase anything. the policy change following the arrest of two black men in the philadelphia starbucks denied access to the restroom, the two men were waiting for her a friend who hadn't bought anything when officers called. starbucks down 7% over the last year. those are your headlines on this monday. train to leak him your thoughts on this change of starbucks right now. >> starbucks is powerful in that they really understand the power of the symbolic gesture. making sure that they have a policy change. whenever there's a crisis committee take actions and they speak a lot louder than any other words they could have. the deal at this very, very well. i think it's an important

. >> i have attacks of this nature ge against me as well. and it doesn't feel good. i do not support this behavior. >> this includes some of the most diverse front runners ever. >> we have enough devicive, homo phobic and antiblack comments being made out of the white house. we are better than that. >> what's most important for us to do is not focus on what divides us but focus on what brings us together. >> former senators state senator mark was at the event yesterday. he left before this whole thing happened. members of his campaign did talk with me this evening. she says if he called the comments made unacceptable. >> all right. thank you very much. turning to the weather. it was windy in a lot of parts of the bay area on many mother's day. >> it was. a live look outside right now. chance of showers now in the forecast. >> we break down the time line. >> the chances around especially the hill top in the north bay the next couple afternoons. we're watching low clouds at the on shore breeze 56 degrees currently. and you can see the wind speeds at 24 miles per hour. f

are entitled to apply host: describe them as children, older children or variety of ges that come to border, specifically for uac's we're talking about. >> sure. variety of ages, but yes, uac, unaccompanied child migrantss tend to be either 17 or younger and they tend to concentrate in range. to 17 however, when we're talking about families that are approaching the southern border prosecuted in the new policy over the past month or so, a lot of them are very young th children and when like i said earlier, when the families are separated, the children are categorized as unaccompanied child migrant. new population the administration is creating, many than m are much younger we've seen before. host: from pennsylvania, independent line, hear next from guest, go ahead. caller: hi. i'd like to know what you're the past o with administration under obama of children afficking that were brought into the just y and the sponsors came in and signed them out. that has been documenting, rescued and they hold their place. is -- people who put them around ps to send them the country. you can cream an

. >> get out of ge >> for every season, turn, turn. >>> retail news, sources telling cnbc that amazonplanning for perks for prime members at whole foods. this does include 10% off already discounted items, free delivery in certain areas and 5% cash back when members use amazon's visa rewards card it is a good thing if you have one. you don't have to use it around town just plug it into your amazon account and use it i don't understand -- any way. get 5% off everything. >>i get cash back on another card >> the cash back is probably less than 5% off >> true. >> we have one of these cards. we get 5% off of amazon. >> so you know on jeopardy last night, nailed it a four-letter word for the way friends can pay -- share restaurant bills on pay pal. >> venmo -- >> that's five letters >> yeah. >> i was going to say venmo, but that's five letters. >> yeah. yeah okay five you're right >> you are the only person in the demo who knew the answer >> right for everybody who is watching. >> yes >>> as we mentioned, roughly 35% of whole food shoppers are also amazon prime members less than 20% of tota

these floating-rate debt instruments are all tied off of you gets docs like ge and colgate-palmolive there are massive headwinds coming. what you're saying is those are the ones you're picking to stay away from. that may just be clear. >> absolutely. >> and a lot of our viewers turn the sound down. elliott worn, this seems easy. rising gasoline, rising energy, i would think that the energy, will patch would do very well here. >> my thinking is that domestic energy companies will do well, but i have to be honest. i have to understand where were all coming from. last time we had cheap energy prices and a good market and everybody was worried that cheap energy meant that there are problems with the economy and really expensive energy is what we need. now we have extensive energy and people are screaming that the sky is falling. personally, i think lower energy is what's better for everybody. it would be better if we got on the same page but i think american domestic energy providers will benefit. i think that the consumers will pay the price always. manufacturing will have problems. they

many here are tired of bad news; tired of struggling, tired of waiting for things to ge better. >> nawazand, it's friday. david brooks and ruth marcus discuss president trump's controversial c.i.a. pick,pe gina h and how the president's economic message

of hundrlieved to be held in secret prisons run by the u.a.e. and its proxy forces. he was taken six months ago from his home by police allegedly on ges of terrorism. and disappeared without a trace. his sister miriam comes everywe to protest with other family members desperate for information. >> ( translated ): we go to the coalition offices and we're not even allowed to ask about our family members. did they come to help us get rid ofouthis or destroy us? this is a crime. 're humans, not animals. >> reporter: we asked the representative of the newly re- igopened ministry of humans, about the status of the detained. >> ( translated ): the courts have been closed for 2.5 years because of the wre and they just pened six months ago. and because they are open things will get better. the coalition security ud to say they can't release any suspect because there could not be a trial. >> reporter: did you hear anything back? the u.a.e. officially denies their use of secret prisons. but the minister of interior tells us otherwise. he says he was in talks with the u.a.e. on behalf of these families. but the attack on his government in january

of its nuclear weapons. you also had south tfrica ge rid of its nuclear weapons. a number of countries decided the cost-benefit of having a nuclear program just isn't there. so w very focused on creating a framework where it'st in nkorea's interest to denuclearize and we are ready to discusa range ofefits for north korea if they are willing nuclearize. >> how do you convince kim jong un that denuclearization doesn't end up with his death, if you're going to bring up libya? >> secretary pompeo has met with kim jong un twice, and i think that's been the center of the discussions have been those peo le to date. those have been very good meetings, and i think they are ing a good job to create the right kind of positive framework so that present trump and kim jong un can have a very productive meeting in singapore. d>> there is someit within the administration about the summit that's scheduled for a few weeks from now, and i'm wod ering what's chanbecause you were in pyongyang meeting with kim jong un and secretary pompeo and received assurance about denuclearization.

yes, ge -- dow component -- cash strapped, looking to offload another one of its businesses, one they gasparino is going to break that news next. ♪ ♪ at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. ♪ with expedia you could book a flight, hotel, car and activity all in one place. ♪ ♪ ♪ liz: thomas edison might be rolling over in his grave right now. take a look at general electric shares. flat, but earlier they were down -- shares are clawing back in the final hour of trade. why? charlie gasparino tweeted this out, 3:25 p.m.: general electric said to have multiple bidders for its iconic lighting business. that began more than a century ago, charlie. >> you know, poor tom. i mean, that's what happens when you run a company that's light are on cash flow, then they cut its dividend that needs to sell $20 billion of assets, you go for the stuff that people will buy. and from what we understand, it's been -- people know that they're out there hocking the

. >> they pay same amount of interest right now at ge. >> dow dropping. this as elon musk tesla announced earnings beat. electric carmakers, still burning billions in cash. tonight we're on it, politics, money. i am in for liz mack -- mac macdonald the evening edit starts now. >> dow closing down 174 to tw 23924. tesla earnings just released. it is a beat. with me now christina with latest. reporter: thank you. >> a beat but still means that company is posting losses, they adjusted earnings per share $3.35 loss but the loss is better than what analysts were expecting $3.58 a share. revenue coming in higher than expected. a little bit stronger, there was an uptick in stock afte after-hs trading. but now a mute the reaction barely moving. what el? they know they don burn fuel -- they don't burn fuel they are an all electric carmaker, but they burn cash. we're seeing for cash balance, 2.7 billion dollars has been a concern because company has been using a lot of money to build the cars, there are issues with production. but affordable model 3, supposed to be

poor boards of directors that pay -- ge. jeff immelt. ke what he did to that company and the stock. he made a lot of money. you can see there's legitimate anger. they're private entities. if they want to ruin themselves by rewarding bad behavior -- >> should be good behavior. >> neil: and it would be like me offering you dietary advice. i wouldn't. >> thank you. >> neil: the government offering anybody financial advice is a slippery slope. >> yeah. the government know what's they're doing, don't >> neil: sure. that's right. >> exactly. >> neil: i want to thank you both very much. more after this. i have type 2 diabetes. i'm trying to manage my a1c, then i learn type 2 diabetes puts me at greater risk for heart attack or stroke. can one medicine help treat both blood sugar and cardiovascular risk? i asked my doctor. she told me about non-insulin victoza®. victoza® is not only proven to lower a1c and blood sugar, but for people with type 2 diabetes treating their cardiovascular disease, victoza® is also approved to lower the risk of major c