apple cfo peter oppenheimer retiring at the end of september. he will be replaced by luca may stri.t -- mae saw shareholders get returned over $50 billion. any time someone leaves a apple, as powerful as questions start. did something go wrong? what do you think? >> i think this is a pretty orderly transition. there has been a senior cfo candidate at the helm, so i don't think people will look at it and say this is an on orderly or an unexpected transition. people will be not surprised by it. people oppenheimer has been an incredible person to this company. they have seen dramatic expansion in sales, etc. his stepping back is not altogether unsurprising. >> when you look at the numbers, they are pretty astounding. when he took over in 2006, sales were $19 billion. last year, $170 billion. >> i think the question is, is the new guy up for it? he has only been there a year. that is my question. can he step up? luca up for it? >> he has seen the other side of success, that being failure. he had a lot of issues when he was in europe. he has seen how

people oppenheimer has been an incredible person to this company. they have seen dramatic expansion in sales, etc. his stepping back is not altogether unsurprising. >> when you look at the numbers, they are pretty astounding. when he took over in 2006, sales were $19 billion. last year, $170 billion. >> i think the question is, is the new guy up for it? he has only been there a year. that is my question. can he step up? >> cory, is luca up for it? >> he has seen the other side of success, that being failure. he had a lot of issues when he was in europe. he has seen how competition financial situations can be. it is interesting to have someone with so much experience coming into the job. oppenheimer did some really interesting things and let the company through changes. tim cook gets all the credit for taking the difficulties of manufacturing thing on a global basis, something we have never seen before, and getting that distributed without having big inventory problems. this is a financial component to that that is just as difficult as the hardware c

michael oppenheimer is a coordinating lead author of it. and a professor of geosciences and international affairs at princeton university. and patricia romero lankao of the u.s. national center for atmospheric research was a lead author of a chapter about north america. she's a sociologist who studies the societal impact of climate change. and we welcome you both to the program. michael oppenheimer, it seems one of the screaming headlines from this is that people need to pay attention. what had been felt to be in the future is happening now. how do you read the main conclusions today? >> right. we're already detecting some of the effects of climate change on the whole system we live in. we're detecting changes in crop yields. we're detecting changes in the frequency of heat waves and heat waves kill, and we're detecting the massive changes in globally important systems like the arctic and coral reefs on which people's lives and the climate system depends. so changes are happening and we need to get on doing something about it, both reducing

hast the peter oppenheimer been part of the architecture of the success of this country -- company.was before there was an iphone, before -- >> he has been in a financial functions in 1996. >> there was a time when that would not happen, and peter would be the one meeting. he would host meetings, and when analyst brought people through he would answer questions for like the time -- for a lengthy amount of time. >> let's put this in perspective. back in 2004, when peter oppenheimer took over, when the ipod was an amazing product of a it was an important job, but did not not i have wondered $59 billion of cash. -- apple did not have $159 billion of cash at that time. >> nobody has ever had that kind of cash stash before. he has created lots of ways for them to acquire that cash, not get taxed on that quest, invest that cash in a shell corporation in nevada, just across the border so they could avoid california taxes as well, very clever uses of that cash. he has proven to be very good. and go, timand with cook was in the operation side, the management of inventory. that is one of the

oppenheimer? >> what he did it apple was fairly amazing. you could look at the $158 billion in cash that he is in managing and say, this is the biggest money manager in the world. >> he just hasn't done a lot with the money. >> tim cook is a lot of credit for what he did as steve jobs side, managing inventory and these amazing products as they grew like the products have an history of technology, without big hiccups in inventory or the problems does or other big problems. but oppenheimer should get credit as well. >> busy morning. >> you know who else is sitting on a big pile of cash? tobacco companies. will e-cigarettes stuff out big tobacco? like that, snuff out? this is "bloomberg surveillance." ♪ >> good morning, "bloomberg surveillance." ben hurwitz will join "bloomberg 1:00 p.m.go to eastern time. his new book. a person of silicon valley. watching the golden state warriors, which is a positive thing versus the new york knicks. we are putting up with cory johnson this morning. >> it is not so bad. >> the topic is e-cigarettes. >> specu

joining us with his outlook chief economic for oppenheimer funds, jerry. you for joining us. >> glad to be here. lou: a great number. >> we forget power of this economy and power of what private citizens and businesses go to work of day is accomplishing, all we talk about politics, it does matter. this is 80% private economy, it is creating wealth. lou: it is too membership people are left out of -- it is, but too many people are being left out of this resurgence, this is a tepid resurgence. kennedy use to say, a rising tide lifts all boats, but this is hardly lifting it seems. >> i think this is the time, at oppenheimer funds we it will our investor time to be highly selective, the kinds of investment that work in a slow growth environment. can i sell news corp to do business more cheaply and make profits, look for people who can sell somebody else some efficiency. lou: as you say that, i think the disishtion between no disktion between now and 1990s. is wonderful old friend of mine said, nobody can cut their way to creating wealth. i think, you can find

. >> reporter: at the usgs, david oppenheimer is working to improve the early warning system. he would like to see it on your smartphone in the next five years. >> we got the magnitude and location right. the warning was commuputed in fr seconds. >> the sensors measure a p-wave from an earthquake. the p-wave tells the sensors what kind of shaking the s-wave in red will deliver. if you are next to the epicenter you won't get a warning, but if you are several miles away, the sensors have time to gather information and send you an alert. >> shaking expected in three seconds. >> reporter: a warning that many would say would be valuable. >> they can be pretty sure and it really proves to work, yeah, i want that on my phone. >> reporter: the system needs about $80 million of upgrades before it is ready for your phone and it will be most effective in areas with a robust area of sensors. >> there will be some areas like the bay area where it will work just as well as we saw in los angeles this morning. >> reporter: now oppenheimer says the early warning system will not work perfectly

tim cook said oppenheim ear's contributions were instrumental to apple's success.e succeeded by apple's vice president and corporate controller. >>> radioshack will close up to 1100 stores. that is 20% of its locations after the struggling electronic's relater reported disappointing fourth quarter results, revenue tumbling 20% from a year ago. that is the latest from fox business, giving you the power to prosper. adam: what's a new proxy for the market in the ukraine market? traders are watching shares of a little-known stock of clues where the market is headed. charlie gasparino is here with the latest. >> i never thought i would do a story about the google of russia. we have a company called yandex. t trades on the nasdaq. i talk with traders how do we game this market somehow? every day it is up and down. yesterday it was down big-time. today they say it is up big-time. look at trading in yandex. it trades on the nasdaq. this is pretty good proxy for ukraine crisis. traders how they are digestion the news and how that news is digested into the stock market. if y

oppenheimer was named to the goldman sachs board. he joined apple back in '96.er naacp, coming back to the area. benjamin jealous has been credited with turning the civil rights institution around, now he's moving to oakland to work for a venture capital firm focused on socially conscious investing. >> a sudden shake up, mayor quan has not revealed why santana decided to leave but it's reported quan pushed for the change. the assistant city administrator will likely take over that position if he gets approval. >> a developing story where earlier secretary of state john kerry landed to show the united states support for the new ukrainian government. during the visit kerry will likely put diplomatic pressure on russia. this comes as vladamir putin spoke to the media for the first time about the crisis. putin said he is not invading the you crane, he is teping. putin said he has the right to protect russians in the ukraine. he also told reporters he hopes that russia will not have to use force in eastern you train. in the southern region of crimea russian troops fi

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he joined apple a year ago and he will succeed oppenheimer. was there for a long time. 2004 was the year he was promoted to cfo. more than $50 billion to shareholders in some analysts are now saying this represents perhaps the new era at the company for the more --ure >> more of a value play. radicalcting a lot of changes. >> the plan was that he would succeed oppenheimer. motorsas with general for a good amount of years as well. was busted for allegedly pretending to be a senior executive at dick's sporting goods in order to obtain confidential information. he allegedly persuaded employees to show him private backroom areas, according to court documents. is seeking compensation for dick's is seeking compensation for damages. adell was a former star of reality tv show, undercover boss. he learned a few tricks there. he is putting them to work. have gone to the store and just been a shopper. but the idea is he want to see how they ran their back operations and how they fulfill their internet offers so quickly. >> i just think it is funny that h

oppenheimer will be succeeded by apple's corporate controller.t is the latest from fox business giving you the power to prosper. melissa: making news at the top of the hour rush of firing an intercontinental ballistic test missile from a site near the caspian sea, this curiously time the move won't do much ease tensions between russia and the west and lawmakers want the u.s. to take a greater role in the crisis. we are covering the full spectrum in this, fox news national security analyst kay t mcfarlane, radio host and fox news contributor monica crowley and for the financial perspective jeremy hill, investment advisers, thanks to all three for joining us. you said this is an opportunity for the u.s.. >> vladimir putin played along game. for 15 years he is building up his oil and natural gas business, is exports, political leverage over western europe and windfall profits over oil exports but united states should say we are going to reverse that, take advantage of our new-found energy resources, built the keystone pipeline, fracking, export natu

before it had always been oppenheimer and tim cook who were on the calls. luka on to the calls. that had wall street speculating you could be looking at oppenheimer's retirement. >> i think within the past 72 hours goldman sachs announced that peter oppenheimer is joining that company's board. >> so duh. >> maybe this will make more sense. >> i read notes from analysts in the last couple of months suggesting that we could be seeing oppenheimer's retirement. >> did you know peter. >> not personally. >> we'll talk to one of your other investments. we welcome the co-founder and ceo of foursquare. he'll join our special guest this morning, dan horowitz, coming up after the break. n man. tdd# 1-888-628-2419 you read this. watch that. tdd# 1-888-628-2419 you look for what's next. tdd# 1-888-628-2419 at schwab, we can help turn inspiration into action tdd# 1-888-628-2419 boost your trading iq with the help of tdd# 1-888-628-2419 our live online workshops tdd# 1-888-628-2419 like identifying market trends. tdd# 1-888-628-2419 now, earn 300 commission-free online tr

apple's chief financial officer peter oppenheimer will retire at the end of september, and join the board of directors at goldman. luca maestri will transition into the role in june. he currently serves as senior v-p of finance. he's also had stints at nokia simens, xerox, and general motors. the ceo of ge is putting his money where his mouth is...jeff immelt is showing his confidence in the company by investing his entire 2013 bonus in ge stock. he purchased nearly 104,000 shares. paying $2.6 million.. immelt tells shareholders: i believe in ge. ge stock currently trades around $25 dollars. rising 2% on immelts move.. in our cover story, the supreme court expands federal protections for whistleblowers. after the enron scandal, employees of public companies were protected from retaliation, including firing if they blew the whistle on activities that could jeorpardize investor holdings. now, employees of private companies working on behalf of a public company have those same safeguards. the supreme court ruled that two employees of fidelity investments, america's 23rd largest private compa

peter oppenheimer has been the growth cfo.nicating to wall street exactly where it goes from hoo. >> and maestri is the architect of the buybacks. not necessarily the one who came up with it or decided to do it but the one who got it done. could he be the employer for capital acquisitions. i couldn't find any giant deals at xerox but it's a change in the management at the top and he could do a totally different kind of financial transaction for them. >> oppenheimer has had a lot of face time with wall street analysts with tim cook and steve jobs was involved with the innovation. do. >> i think cook is a different executive. i wasn't at the goldman conference this year. i was t at it a year ago. he was on stage being interviewed. i think cook is going to be more external with wall street. maybe it's a little bit of a readjustment of the structure. >> a lot of news in tech today as there is every day. >>> meantime, still awaiting remarks from the secretary of state john kerry in kiev. john harwood is at the white house with the

michael oppenheimer. those are the changes.ffect global warming will have on the food and the effects. >> food is the headline of the report. we have seen a decrease in crop yields in many places. more so where it is hot. too hot to produce some crops. where it is cooler, there are some increases. over time the demand for food from more population, people eating higher of the food chain is going to i'll run crossed yields and will get into a situation where there will not be enough food to eat. >> what is the timing on a situation like that? >> some countries will click we are already in a situation where the decrease will start affecting the availability of expect some malnutrition at least over the next few decades. what we're are really worried about is when you get to 2055 where temperatures get high enough that even in developed countries you see crop yields being affected. >> what about fish stock as well? >> there has been a problem with fish stock due to overfishing for a long time because the oceans are getting more ac

apple,went to visit oppenheimer would sit down with us for lengthy visits explaining thet about not justhat company was doing but how they thought about financials and really gave us a lot of feedback. het was one of the roles had, particularly when steve jobs got sick of dealing with wall street. he was able to open up his calendar and talk with investors. i do not know if that was the same when the stock had risen so much. >> do you think it is a bullish signal that they're doing it now? >> this has been underway for a long time. there were rumors years ago berkeley and cfo, they brought luca in to groom him for the role. it is clearly underway. he has been at the company for a long time and made shovels full of cash. >> disclosure is one of those where investors are never satisfied with what they are getting. they want more and more. with technology and the changes the industry is going through, coupled with apple's cash and buyback and dividend, etc., more information is oh is great. incremental information is oh is great. we're looking forward to getting more. >> all right. thank yo

blows ♪ as free as the grass grow ♪ free to follow your heart [ crying ] [ shooting ] >> joshua oppenheimer los angeles he directed the oscar nominated documentary, the art of killing. good to have you with us joshua. i could say on a human level this may be the most bizarre film i've ever seen. how the man we just saw there anwar, just openly boast about their crimes, absolutely mind boggling and of course raises the obvious question how are these people able to walk around free after confessing to murder on film? >> fundamentally, because they have never been removed from power. these are the men who in 1965 helped the military take power and have been in power ever since. and while the military dictatorship formally ended in 1998, these men still remain in control. like aging nazis, these men have never been removed from power. they have boasted, needed to boast, so they don't have to admit that what at the did was wrong. >> how did yo did you manage tot these men to come before your cameras and talk in such detail about how they massacred these people? >> i began making these films with

. >> joshua oppenheimer join us from los angeles. he directed "the act of killer."a special dvd out now and it's available on itunes, amazon and netflix. on the human level this is the most bizarre film we've ever seen. how the subjects of their film is among 10,000 killers who are open about their crimes. it's mind boggling and raises the obvious question, how are these people able to walk around free after confessing the murder on film. >> fundamentally because they've never been removed from power. these are men helped the military to take power and been in power ever since. while the military dictatorship formerly ended in 1998 these men still remained in control. unlike aging nazi who is deny what they've done or act ashamed of it, these men ever never been removed from power. they needed to boast so they wouldn't have to admit what they know to be true. >> how were you able to get these people to talk to you in such detail about how they massacred people. >> i began making this film in collaboration of a community of survivors of the 1965-66 killings. when the

say you have a retirement fund as oppenheimer fund, some have great exposure to puerto rican debt. the question, are municipal bond fund purchasing these geobonds to put into their mutual muni bond funds? you have to go into the offering statement of your retirement account to find out, do we hold puerto rico. gerri: what is the downside? what's the danger? what's the risk? >> downside for a couple i just described say in michigan who may not know their mutual muni bond fund are buying these geobonds, that the fund will go down in value. there are bad things coming out of puerto rico and we don't have time to talk about you can count about those. gerri: geo, general obligation. >> general obligation. sorry. if your retirement fund purchased some of those bund the bond will lose value over time and that is problem because your retirement fund has to sell things to generate fund to send you your monthly check. >> i find this really worrisome. it sounds to me, now i could be wrong that these professional investors, these hedge fund investors are basically dumbing a bad investment on t

one of the authors, michael oppenheimer warns we're all sitting ducks and ways to reduce, such as reducing dioxide and be prepared. all thn 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. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ >>> our billionaires running presidential politics? that's what it looked like in las vegas as republican hopefuls went trooping to kiss the ring of sheldon adelson. and leading the group, chris christie making no secret at all of his 2016 ambitions. but perh

. >>> let's talk more about the markets bringing in oppenheimer's.t is the cause of today's sell-o sell-off? >> today the market was looking for a catalyst after we pulled back records in the s&p 500 last week and the mid-cap s&p 400 and russell 2000. that said, president putin and his in-roads into the ukraine anden into crimea offered that as well as the industrial production numbers and retail numbers out of china today. >> is there anything there in terms of reasoning why the market might have dropped, john, you see would give us reason to drop even further over multiple days or weeks, or is this a one-day wonder? >> mandy, this could be easily a one-day wonder. if we get another good piece of data tomorrow, if we get some kind of relief, related to the ukraine situation. or, noor matter, if we get a piece of data out of china that looks better than expected. all of this looks like all part and parcel of what is political, geopolitical issues that are alive and kicking and problematic as well as china turning a large vote around. >> those things,

they got initiated by oppenheimer. >> core logic, we've talked about them. provider of property, real estate analytics and information here, and in some country called australia, mate. target is 38 bucks. see potential upside of about 24%. they think new software is expected to help lenders identify mortgage fraud risks. >> and next up, we have albany molecular. those shares will be plummeting over 7%. a downgrade to underperform at stern ag. >> and provides global research for biotech as name might imply. stern's target remains $13. the price of albany molecular, $18.40. to stern ag sees about $4.50 of downside on this name. >> look at that. over the past year, up 82%, incredible. the under the radar stock of the day is green plains renewable energy. up a little bit today. piper jaffrey increased the target by 16% to 35 bucks. >> it's a distributor of ethanol. gpre is the ticker. their rating remains overweight. a small dividend yield. one thing to pay attention to, short increase decreasing 23% from january to february. so fewer people betting against gpre

brian detrick on the charts, on the financials, oppenheimer financial. >> i would say i'm neutral.run companies in retail and in many ways, it's a model for the retailers but the stock at this point is rather fairly valued. >> you think it's fairly valued. do the charts back that up or say something different? >> i think the charts look good. if you look at this chart here, it's been sideways for almost three weeks. i like that kind of slow stair-stepping higher. what i like is yesterday on earnings the shares went lower, kind of got the bears excited, then just as quickly, the shares finished off the lows. we call it a bear trap. to me that's a bullish sign from yesterday and that tight pattern, i expect all time highs in the next week or two. this looks really good. >> fundamentally, you think there's a reason why the stock could go down? >> actually, i want to say this correctly. near term it's probably going higher because if anything else, the weather.ç yesterday we spoke with the senior management team, the really harsh weather across the country is definitely a positive for

oppenheimer thinks it's a good opportunity to buy the stock but keep in mind, this is a very small company. talking about half a billion dollars in market cap. so very volatile as well. >> a $4 stock to boot. thank you very much. now to michelle. you have been following this puerto rican bond story for weeks now. >> small island. >> small island, big bond issue. highly oversubscribed. >> yeah. puerto rico is going to borrow $3.5 billion today. the coupon on this offering is 8%. consider that that is triple tax free. you would have to get like 12% or 13% on a different kind of bond if you're paying taxes. if you're lucky and you get to buy the bond during the offering process, kind of like when you get to buy before the ipo actually starts to trade, your yield is actually 8.7% because you get to buy it at a discount, you only pay $93 for $100 of face value. it matures in 2035. the commonwealth has $70 billion of debt for fewer than four million people and yet, take a look at these stats, according to one source, there are $17 billion worth of orders for this $3.5 billion bond, most of the b

another man vladimir adelman who is 42, formerly he was a stockbroker at morgan stanley as well as oppenheimerw firm provided information about deals the firm was working to adelman who then purchased securities not only for his own family but also for metro as well. the two defendants or the two charged, again, netting a profit of $5.6 million from these insider tips. now among the deals or among the companies involved in the deals, in which metro received that insider information, sirius xm, again, all of this according to the complaint, sirius xm radio, also graham packing company, smart modular technologies and international coal group among others, 12 companies, or 12 companies' stocks i should say were involved in this insider trading scam. again, the information obtained by a managing clerk at the new york office of simpson thatcher and then given to a broker at oppenheimer and morgan who bought the securities on behalf of his family and the other man steven metro involved. back to you. >> okay. thank you, mary. >>> still ahead on the program, the ceo of adobe will join us live for an e

being better. >> good to see you, andrew. >> thank you for having me. >> andrew berkeley from oppenheimer'sa big bet as what it sees as the future and that is virtual gaming. we'll talk to someone who spent five years developing new products for mark zuckerberg including facebook home, that's coming up on "squawk on the street." reet." are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today. i just ah woke up today and i said i need something sportier. annnd done. ok maxwell, just need to ah co

peter oppenheimer. he said hey, on september was our transition and jim. it's a controlled handoff. their try to get the starting spot. this is not a young man. a wealthy elderly-elderly gentleman so he deserves his time in retirement. it's nice to see an exit strategy. management is quickly. so controlled hand of better. >>: wesley let's talk about it going in cryptic currencies. seems to be the rape. ---bitcoin. >>: the first one was mount gawks. it's a big bank. they lost 600 and over $400 million was stolen. $480 million inbitcoins. these to be you could trade the good news here is it is going to start weeding out the losers. people you can trust. the early adopters are confirmed on this and if you ever had it have a bank you're probably going to get what you deserve. >>: we will wrap up with one final question from a viewer. -writing if i'm in debt should i avoid >>: everyone should be ma and managing their 401k. >>: >>: thank you as always. if you want to find out more at our web site kron4 dot cam you can reach rob up through the platform. >>: telling the truth and living it.

. >> jim moody with oppenheimer. ideas.d war was a war of it was basically a war of ideas.i would maintain, and correct me if i'm wrong, that islam is often the associated with --lence actually, heaven violence. actually, having lived in many islamic countries, i know it is a great crime under islam to kill people. is there a way to bring that to the table? >> you said the cold war is a war of ideas. ward -- birth to actions. too often actions give birth to repressive policies. authoritative actions. it was suppression and repression of individuals. same thing with al qaeda. they have a very corrupt interpretation of the koran. i meet with leaders in the middle east. these are individuals who are karen asked callers. they're the ones that are most annoyed at how al qaeda has hijacked the religion. and distorted the teachings of mohammed for violent purposes. ideology has, that gained resonance and following in many parts of the world. repression political , economic disenfranchisement. lack of education and ignorance. there are a number of phenomena that are fueling the fir

from ameritrade and john from oppenheimer. good to see you both.re we are five years from the low. do you think about taking profits? is it full steam ahead? >> bill, the way i look at it is we hold course. we stay the course on this market. perhaps take some profits from time to time and outsized gains, but we have enjoyed the ride, particularly since the fall of 2009. so we'll stick to the order. >> assuming you were in this market to enjoy the ride, j.j., i mean, is it a time to think about getting in now if you haven't been in this market? >> i think you can but i think john brings up something interesting. we released our investor sentiment index today, based on people who made a trade last month. it's an all time high. one thing that's interesting, people took profits in names like chipotle that had 52-week highs. and green mountain coffee. very interesting that way. if you look at the buy side, they bought names like coca-cola and ge that suffered some volatility. people aren't as afraid as they once were of volatility. >> but more disciplin

john over at oppenheimer, he says as the economy gets better, these banks do well and they can rewardestors, especially if the fed is starting to loosen its controls. remember, they've been handcuffed in how much they can pay in dividends and buyback in shares. all that may start to lift in the coming year. >> you're getting dividend growth and buybacks in tech as well. >> not to mention this week, guys, they've both done well. so we'll see if that can continue. >> kelly, bill, over the past year and over the past year-to-date, they're almost exactly the same in terms of performance. >> and that's what makes it even more exciting. >> we're going to go into overtime i guess. >> yes, o.t. >> thank you, guys. good job. >> bill, did you read there was only three perfect brackets left in warren buffett's bracket challenge. >> allegedly. i doubt they will make it through the weekend. we'll see. it'scrazy tournament so far. we have about ten minutes left to go into the close. the dow is still negative off 27 points. the s&p is lower as well. 1864. remember, the closing high was 1878. we touc

. >> gym with oppenheimer. as we all know, the cold war was a war of ideas. it was basically a war of ideas as i said and i lived in a communist country during the part of the time. i would maintain, correct me if i'm wrong, there were also anywhere of ideas right now. off an islamist with violence with 90% of americans think it's automatically violent but having -- i knew islam -- [inaudible] so anywhere, is anyway to bring that crucial information sort of more to the table that i think most of us have experienced? >> when you say the cold war was the war of ideas, al-qaeda is almost an ideology of ideas. ideals give birth to actions. and too often actions give birth to repressive policies, authoritarian actions on the part of many countries that have the communist ideology and it was its oppression and repression of individuals. same thing with al-qaeda. they have a perverse and very corrupt interpretation of the koran. one of the things i'm struck with when i traveled with the middle east and in the with leaders, these are individuals who are koran expels

we'll go now to montana and the sight oppenheim a terrifying avalanche burying three people alive. >>ers scrambling. it happened without warning. the avalanche came crashing down on to a western montana neighborhood. crushing one home and trapping three people including an 8-year-old boy. >> yeah, the other one still has to come in. >> reporter: rescuers rushed to the scene while residents did everything they could to get rid of the snow so they could help get to the family inside. >> i looked outside and everyone was running with shovels. >> reporter: about an hour after the search started that young boy was pulled from the debris. he was rushed to the hospital, the frantic search continued for two elderly people still trapped inside. eventually, signs of life. both were found and brought to safety. residents stunned that something like this could happen in their backyards. >> i just can't believe there would be one that would do this much damage. i was really shocked. >> reporter: but grateful this morning for the kindness of strangers. >> i thought it was amazing how many people we

i pulled the camera back as it were and thought what does it mean that peter oppenheimer is leaving?long time. he's been managing a treasury of 170 billion of cash, nearly $500 billion market cap. he's going to the most conservative establishment board ever. this is all orchestrated. he's going to goldman sachs. it just struck me this is the difficulty that apple has, one of my colleagues wrote a piece about this, which is that they are a big, big company. but they need to think small or they need to think nimble, need to think creative destruction. they are the destroyer, right? in the r & d part of what they do. new products, iterations of their existing products, tv, wearable devices. that's really hard to manage that big company feel when you are actually out there trying to be the disrupter. and i think that's why you look at the company. we've been wrong a couple times. i think we once wrote that it was the first trillion dollar company. because by all rights it should be. the "p" is like 12. you adjust that for the cash it may be lower. the market is on 16, 17, 18. but i think

bit of weakness lately in the past couple of weeks as all of this controversy has swirled, but oppenheimerortunity to buy the stock. keep in mind this is a very small company, though, only about half a billion in market cap, simon. >> okay, sheila, thank you very much. >>> coming up, morgan stanley chief adam parker, he's using the b-word to describe some areas of the market. find out what he's talking about next. >>> and more, of course, of david faber's interview masayoshi son, the ceo -- i tried. >> he's not going to like that. >> like john travolta. yeah. >> that's ahead on the show. stay with us. ay with us.[ male ] here at optionsxpress, our clients really seem to appreciate our powerful, easy-to-use platform. no, thank you. we know you're always looking for the best fill price. and walk limit automatically tries to find it for you. just set your start and end price. and let it do its thing. wow, more fan mail. hey ray, my uncle wanted to say thanks for idea hub. o well tell him i said you're welcome. he loves how he can click on it and get specific actionable trade ideas with their

oppenheimer is fine. but people should listen. amy hood is a star. not a rising star.al star. and ballmer put her in so i think that's a good sign. >> there's a look at how the two stocks have done over the past year. interesting. >>> when we come back we'll get cramer's "mad dash," i think he'll have a crack at exonthis analyst day today. take one more look at futures and we'll get that opening bell in just a few minutes. don't go away. really? so our business can be on at&t's network for $175 a month? yup. all 5 of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line, anytime, for $15 a month. low dues great terms. let's close! new at&t mobile share value plans our best value plans ever for business. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how t

we've got a senior research analyst with oppenheimer and sqoining us on set anna crane the director inup of moody's analytics. welcome both of you to the program. chris, are you surprised thatcity ended up in this position? >> it was a shocker. i think that -- to the street and the company as well. >> so, why do you think we ended up as we are now? >> well, you know, i -- by the numbers citi passed. and they objected on qualitative reasons. and to me it's a very surprising thing. because -- and let me put it this way. i think every year the fed has a sacrificial victim in there. last year it was goldman and jpmorgan, which got a qualified pass. the year before it was citi and suntrust. and i think the mexico -- the hiccup that they had was an excuse for the fed to say no. and just in general i think what the fed is probably extra cautious on banks that have global operations. but, you know, when i look through the numbers and you look through the fed stress test document, it's the fed that has weird and inconsistent assumptions and conclusions not citi submission. you know, for example