details, coming up. ♪ onthis is "taking stock" bloomberg. i am pimm fox.ng downgraded is not on worst thing in the world, spalling after standard & poor's lowered general obligation bonds +, and that is the highest speculative grade, for puerto rico. a cofounder and portfolio manager joins me, and also with me is the author and physician deepak chopra. we are going to make this. what is the situation in puerto rico? >> they have been facing some fundamental headwinds for a long time. i have obviously been exacerbated over the last few months because cash is running short, and this is putting some heat to the feet of the legislature. >> the problem, they have not had the economy in order to support the borrowing that they have done over the course of many years. >> absolutely. they also have pension issues. on top of that, they have high unemployment, as well, and flights to the mainland. >> ok, deepak chopra, it sounds like there will have to be some mental changes in a place like puerto rico. >> one solution would be to empower the local economy. right no

about $55,000 each. ♪ onthis is "lunch money" bloomberg television.eaming live on bloomberg.com, your tablet, and smartphone. the faa is cracking down on drones. it is testing in six states. michigan has yet to be added to the list. detroit flower delivery was hoping to make a name for itself this year by delivering free bouquets. sorry, guys. clever idea, but no luck. the agency has its hands full dealing with a lot of other guys. megan hughes explains. >> we are airborne. >> drones have gone mainstream. even the "modern family" character has one. he borrowed it from his real estate company to spy on his son. real estate is one area where real-life drone use is widespread. drones shoot photos of properties. they are capturing surfers on the north shore. the filmmaker of the gettysburg documentary boasts about the technology. >> it can shoot from a few feet off the ground to 400 feet in the air. >> they are beautiful shots, but also may be illegal. the faa does not permit drone flights for commercial purposes. >> you cannot just acquire one of these v

bush, but let me just say -- >> stay onthis, juan. should the president be allowed to change a law 29 times unilaterally? >> you know, again, if you look at social security, medice, when they were passed there were lots of amendments and changes done on the basisf presidential or bureaucratic authority without going back to the congress so that's not unprecedented in american history. >> what i'm hearing from you, juan, 's happened in the past so it should be able to go forth. >> on this kind of issue, but ideally we should go to congress, that's the way the system is designed, but this unfair and unbanced to ble obama and not to look at what happened to bush or -- >> fair enough. wayne, your thouts on this? >> well, i think juan is absolutely right. we've had a history since the new deal of doing this an it's absolutely wrong. it's againsthe constitution. the constitution's very clear about this. and we have now what is called an administrative government in which the congress as well as the intent of congress to do so-a-so passed on

. ♪ onthis is lunch money bloomberg television.e streaming live on bloomberg.com, your tablet and smart phone. i'm adam johnson. today's moving pictures -- video is the story. venezuela moving large demonstrations this weekend. as comes after a week of violence that has left six people dead and over 100 injured. protestersdent against the government. leaders of the opposition movement face jail in military prison. more than 200 copies of the diary of anne frank were vandalized in tokyo. the books had pages torn and in some cases ripped out completely. so far, 31 libraries in tokyo have reported damaged copies of the book about a young holocaust victim. police are investigating. pollutionises its air numbers. children and the elderly were advised to stay indoors during the elevated alert. nonpartisan scorekeeper finds itself in the military very partisan fight. it was the obamacare employment numbers, now it is the minimum wage numbers. has generated -- it has generated a lot of controversy. republicans are seizing on the job losses

. ♪ onthis is "lunch money" bloomberg television. also watch us streaming on your tablet, phone, and on bloomberg.com. today's moving pictures is where we had today story. two car bombs in beirut killing six people. the area is considered a hezbollah stronghold. a sunni militant group linked to al qaeda claimed responsibility for the attack. friction on day two of talks , the u.s., and others on the long-term nuclear program. the u.s. wins a gold medal in the first ever men's olympic half pipe event. nevadaise of reno, jumped and spine and flipped his way through heavy snowfall. he brings the u.s. medal count to 20 overall, six of which are gold. until death, or better. that is our focus in today's nation. lawyers haveorce been busier since the economy started climbing out of recession, and now people can afford to split up. peter cook took a look at the close of numbers. got us thinking about divorce itself, is it a net plus for the economy, even though it is difficult for families to go through? that you have is two households, may

onthis is "taking stock" bloomberg. for a look at the market moving headlines, i want to go to olivia sterns. >> purchases of new homes rose unexpectedly during the month of january. it increased 9.6% to the highest level in five years. this indicates strength in the industry. housing,ny aided by this posted a fourth-quarter profit gain. this is a housing rebound. the second-largest home improvement is announcing plans to buy back $5 billion worth of shares. deen is heading back into the kitchen. she opened her first restaurant center scandal in which she made racial remarks. kitchenled the family it will cost $25 million to build. >> thanks very much, olivia sterns. fromis "taking stock" washington, d.c. i am pimm fox. proposal.l has sent a served as secretary of defense -- as the cohen served secretary of defense under william clinton. he also served in the house of representatives. toning us now to discuss the state of the military and the state of politics. you get that money, you figure out how to spend it. what is

. ♪ onthis is "lunch money" bloomberg television and streaming live. video is the story.n an australian town are devising people to get out due to a fire in a local coal mine. the blaze has been burning for three weeks. it has been spewing ash and smoke. officials say it could last another week and a half. people have been complaining of chest pains and headaches. protests around the world to send a message to egypt. demonstrators in washington and elsewhere showing their support for a group of al jazeera journalists on trial in egypt. the journals have been held since december. egypt said they were aiding a terrorist organization by reporting on the muslim brotherhood. drought stricken california finally getting some rain, and lots of it. dump one forecast to inch hour was hitting southern california yesterday. yesterday was the first there was an inch or more of rain in downtown los angeles since october 2011. a mixed blessing. barren hillsides are now subject to mudslides. john thompson took over as chairman of microsoft at the beginning of the month. he replaced compa

. ♪ onthis is "lunch money" bloomberg television.ive on bloomberg.com, i am adam johnson. it again,ovie does the film scores top spots at the box office second week in a row. 63 million viewers between valentine's day and president's day alone. the second place, "about last night." "robocop" in third. been focusing on big franchises like robocop, jon the team toined discuss whether it is working. abouty were saddled with $5 billion worth of debt and needed to clean up their books. under gary barber, their ceo, they have gone an impressive job improving their financial health, they now have about $50 million in cash on their books. they have a revolving fund, largely untapped, about 700 million dollars, this is a different company from four years ago. think mgm grand, last time i said i was going to see a fight in las vegas. does this company need to reinvent itself, does "robocop" count, isn't that what everyone is doing, their own version? mgm has this big library of movies that they can choose to tap into, miramax is in the same ol

. ♪ onthis is "taking stock" lumber. i am pimm fox. fourth-quarterd profits that topped estimates.aw sluggish sales due to the cold weather. they said they will reduce costs savegh job cuts which will $100 million year. in a memo sent to employees, it has returned all most all investor money. it has shrunk its headcount to 850 people from 1000 as they focus on managing the private wealth of their founder. and he may consider selling the blackberry messenger service. running a public company, anything to help our shareholders, i need to take a very serious look at. that is a very serious point. today, we need to build up that base and build up the engagement model. on lumber.com. "stress is called test," describing his decisions during the financial crisis. the memoir is scheduled for release soon. >> from an undrafted free agent to a super bowl champion, victor cruz is the version of the american dream. he has not slowed down even after winning a championship ring in 2011. he said records on the field and stay busy pitching some top rants off the field including campbell soup, time