in the oracle cloud database servers.eds of thousands of customers have been waiting for exactly this. software largest business, and database will be our largest cloud service business. mark? >> before we take questions, i thought i would give you seven or eight facts about our business in the quarter. bookings grew 54%. digits. triple 32%.ue grew we have 500 new cloud customers in the quarter. based on what i heard, they got something like 25. we got 60 fusion new customers in the quarter. 290 new cx we had customers, 90 fusion sfa, and almost 200 marketing new customers. we added 90 new customers in fusion erp, and ia like number n the epm cloud. all i'm talking about is erp cloud and epm clout. fusion had triple digit bookings growth, triple digit revenue growth. we added 200 net new fusion customers. while the transition to the cloud is in the early stages, we are already at a run rate of nearly $2 billion. on hardware, we declined in grew this quarter and engineered systems double digits. our competitors are declini

is oracle in need of change? >> it is interesting. i think one of the interesting things that is not changing, i'm going to ask you, larry is giving the title of chief technology officer. he is turning over the title of ceo but keeping cto. larry'shat is involvement with technology, and is it curious that he is keeping that title in the job? -- and that job? >> it is not surprising to me, he spent most of his time doing that. you did not spend time with analysts, with customers, running the operations. coo and markn the has been the chief sales officer. he has always been the chief technology officer. he was the only one that had the fiduciary responsibilities of filling out the forms and signing off on the stock report documents and all that other fiduciary stuff. i think he has light in his load on stuff that he does not really enjoy doing, and gift you spend more time on the stuff he does enjoy doing, which is driving product strategy, getting andlved with the engineers, hanging out more with features and functionality and quality.

larry ellison stepping down as head of oracle.s paying a 20% premium over yesterday's closing price. concur makes software to help manage travel. a quick programming note, be sure to catch my interview with alibaba executive chairman jack ma tomorrow morning live from the new york stock exchange. 9 o'clock a.m. eastern right here on bloomberg television, i cannot wait to talk to him -- have you wonder just how this relationship started? with the initial conversations were like between jack ma and yahoo! founder jerry? hans, i know you know jack ma, you have been intricately involved with many of these chinese companies as they have gone from infancy to gigantic juggernauts. >> they became an investor in 2003, and then they played a role in connecting jack and jerry. i am on a board that has facilitated activities between america and china. there was a ceo summit in 2005, and that is when jack and jerry met up with each other. they had a long conversation and a heart-to-heart talk. they decided that it made sense for the two to tea

>> to me, the oracle news is so huge.way it came out when you think about larry ellison as a micromanager and the way that he so meticulously controls everything ask to have this sort of dropped in our lap, i'm really curious to hear what the aftermath is going to be and what we're not hearing yet. i think as robert and i were talking about, there's definitely more to that story. >> yeah, look, there's something we don't know yet. i don't know what it is, i don't know how big it is. but something about this felt hurried, sudden and huge. it felt like a normal company and not a normal company would've plotted this out over a longer period of time. >> anything else in particular here as we look to friday? >> ali baba is going to be fascinating. it feels like such a disciplined ipo. i like this, good for markets, shows that ipos, we may be over the sort of facebook debacle. >> but an interesting challenge for the underwriter because there's no lock-up on a lot of the shareholders, which is really the first big ipo we've seen

we are seeing a decline in the oracle shares. it could be the fact it missed on the eps. >> new software licenses were disappointing, operating margins were disappointing. it's held 40 a couple of times. to me it's not expensive, you wonder, though if some of the things it came out with is an anticipation of things we came out with now. not a kitchen sink but a quasi kitchen sink. my inclination, you buy this stock. i'm not convinced it's going to trade down through $40. >> with the dynamic of two ceos coming in the potential for a kitchen sink. this sets a stage for new leadership come in really low. >> you know, what's very interesting, there's a couple of corporate events coming up. there's a user conference september 28th, and an analyst meeting for october 22nd. and, listen, this is the same old management. the management change is a mild positive at best. who needs the seventh largest richest guy in the world running the company and they're almost like in this perpetual sort of restructuring mode. i'd look out to the two ev

. >>> end of an era, oracle's co-founder and long-time ceo, larry ellison, is stepping down as chief executive. who is in and what is next for the software giant? >>> ready or not. here comes who looks like the largest u.s. ipo ever, but there are pros and cons the way the company does business. >>> and historic polls, scotland, deciding whether to go it alone, all this on "nightly business report," september 18th. >>> good evening, more historic closes on the dow, thanks to a strong rally on wall street, but we begin tonight with stunning news about one of the world's richest men and most powerful chief executive. larry ellison, in a surprise move, the oracle ceo larry ellison announced he will step down as the executive of the board and chief technology officer in charge of software and hardware engineering functions. and stepping up as co-chief executive, company insiders and co-president, they came to oracle after being pushed out of hewlett-packard ceo. the move came out after the markets closed and shares fell on the news. john fort has more on the news. john, you have been cov

larry ellison has stepped down as the ceo of oracle. mean he will be any less involved in the enterprise company he founded? that is next on "bloomberg west." ♪ >> welcome back. i'm emily chang. we want to follow up with a story we have been following here on "bloomberg west." on august 12, we spoke with john mcafee about his life after fleeing belize where he is wanted for questioning in the murder of another american businessman, gregory faull. during the interview, mr. mcafee made accusations about the prime minister of belize. he said he intends to post videos and evidence that he claimed showed the government trying to kill him on a website he started. at this point, none of the evidence he claims to have had hasn't posted on the site for stop is not for us what to our request to provide the evidence. lawyers sent us a letter denying his claims. bloomberg has not been able to independently verify his accusations. we do not agree with or endorse his claims. a titanic change in one of silicon valley's most legendary software companie

larry ellison is stepping down from oracle.ded the company 37 years ago and is been the only ceo. he hands the reins over. can these two share the role? now that we have had 24 hours to digest this news, what is your take on how well they can work together? >> i think they can work together fairly well. my problem is i don't think larry is going anywhere. he is working for the people who work for him. he is going to be the cto underneath to people who work for him as chairman. if we know anything about larry ellison, that means he is still in charge. he has never liked dealing with investors. he finds it a nuisance and he has never liked dealing with customers. he gets to focus on a product by handing out those duties, he gets to walk away from two things he doesn't like doing and still remain in charge. >> the salesforce ceo is also a former oracle employee. these companies are now rivals. he tweeted that there will always be one and only ceo of oracle. he may have intended to give a compliment. do you think that they will hav

, also crow ceo of oracle. want to talk about the new title and also m and a. so tipco recently got taken out for a little times forward revenue. why didn't you take it out? >> you know that i can't comment on m and a. and i'll just leave it at that. >> are we in a space where m and a is an important way to grow? because it seems like we're s seeing enterprise consolidation picking up again. >> oracle is one of the only few tech companies growing its top line. point two, certainly m and a is a way to grow. and we are a build and buy company. frankly even a lot of things we've cone over the years has been more to build the portfolio and capabilities certainly as we engaged in growing the cloud business and portfolio it's been a way to supplement pretty strong organic development as well. >> right. so a lot of people on the structure that you are in right now with two ceos. say, that's got to be temporary. it doesn't last and your competitors have have had it for a while. sap worked eventually it shifted. why are

larry ellison stepping down as ceo of oracle. ellison has been the only ceo in oracle history.share the role and successfully turnaround their declining growth? i want to ring back cory johnson and eric cantor bidding editor. now that we have had what he hours to digest this what is your take on how they can actually work together? >> i think they can work together fairly well. my problem is i do not think larry is going anywhere. in a sense, larry is working for the people who work for him. he will be the cco underneath to -- two people who work for him as chairman and if we know anything about larry ellison that means he is still in charge. what had gone on here is ellison has never liked dealing with investors and never liked dealing with customers. he gets to focus on product. by handing off those duties he gets to walk away from two things he does not like doing and yet remain in charge. it is a unique position. >> he tweeted that there will only be one ceo, larry ellison. he may have wanted to the company do you think they will have any autonomy? >> that is a dig at them

covers oracle, and, wek, what exactly new did learn about this relationship between them today?> well, not only has there been a huge leadership change, but the performance stock units, that means they need to get a good amount of operating cash flow compared to many of oracle's rivals in the business world, and that will contribute directly to their compensation. also, larry ellison is under the same schema now. a big change. >> they are herding cats over there. have you heard that question mark i wanted to say it. >> they have been herding cats for a long time. person to herd, i am sure. and the thing that jumped out to me is they are both making a lot less than the previous year, but still more than pretty much anyone else in technology and corporate america. return. it seems like a oracle has been under shareholder pressure for several years now to reduce the amount of compensation it pays its executives. that has been seen as being very, very lavish, sent to bring oracle back to the level of other companies while still making them extremely wealthy. let's talk a little bit

now oracle does have its own fast-growing cloud initiative.y bright spot i saw as allison said last night, "we're focused on becoming number one in the cloud, being bigger than salesforce.com in the cloud." which-to-which i say ouch and good luck. it's now a slow growing legacy software company while sales force gives business that one time would have gone there. if anything, i can argue the goal is getting wilder. how about that competitor sap? it has to catch fun salesforce.com and i think buying concur which has the best stop one cloud soft swear a great way to do it. we talked to steve singh the ceo of concur many times and recognize this company has become unchallengeable. it's this far ahead of the competition. this is type of company oracle should have bought rather than buying back its own stock. now, i have a lot of respect for the two people taking over the ceo position from ellison, mark hurd has been doing a lot of the day to day heavy lifting at oracle and sophra katz. ellison stairs on as the chief technologier? but it's now herd

oracle has been under shareholder pressure for several years now to reduce the amount of compensationt pays its executives. that has been seen as being very, very lavish, so to bring oracle back to the level of other companies while still making them extremely wealthy. >> so let's talk a little bit about mark hurd paid more than safra catz. i know it is not that much more. >> hurd is cfo, and she is not. it is noticeable, particularly when they have this issue. >> catz has been there since 1999. >> indeed, she has, and she has done a heck of a job. a $2000 difference when we are talking about $37 million. >> we are talking about principle. >> yes, we are, and their salary and their bonus is the same, but it is mostly stock compensation, but i think the bigger issue is just how big these numbers are. when you look across some other companies who pay their ceo's tons and tons of money, this is tons and tons and a couple extra times. that is the thing here. and, jack, you have said that some people have complained about this as shareholders, and shareholders also get a vote on this, and

then what will oracle look like without larry ellisson. we hear from mark hurd and what the traders debate. how to play rn under the new regi regime. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. introducing a pm pain reliever that dares to work all the way until the am. new aleve pm the only one with a sleep aid. plus the 12 hour strength of aleve. >>> carl icahn had a response to tad's news. as i said in the past and maintain it is a no brainer these companies be separated and thus increase value for all shareholders. josh brown, this is interesting news. why not then, why now? i have a bunch of tweets. let's see. january 22nd. john donahoe. spoke with icahn about the spinoff. we believe it's more valuable as par

he sat down with oracle's ceo and co-ceo. >> i just sat down with oracle ceo.terview. we talked for upwards of 40 minutes. and she made a very candid and forceful case for oracle's growth and vertical integration. she talked about how oracle's combination of hardware and software is just getting started and will continue to grow. she talked about cloud sales and how the sales force over the past few quarters has figured out how to operate within the model and word of mouth between customers is helping to accelerate that growth now. she talked about infrastructure as a service. i asked this question because larry elson said oracle would be price competitive with others. i wonder how this is going to effect margins. safra catz telling me because oracle has the hardware that runs so efficiently she believes not only are they cost competitive but that is not only the important thing here but kind of like a drugstore. you go into a walgreens or target and pick up milk as well as a few other higher margin items. she believes that is how this will play out as a cloud.

. >>> still ahead, now that oracle has co-ceos, are two heads better than one running the company? the answer may not be what you think. >>> mixed news about jobs, the labor department says that 35 out of 50 states added more jobs in august but the unemployment rate rose in 24 states that same month with so many more americans looking for work. georgia reported the nation's highest jobless rate at 8.1%, the lowest north dakota, thanks to the state's energy boom, just 2.8%. >>> and investors are trying to figure out what the new management changes at oracle mean for the software giant. as we reported last night, oracle co-founder larry ellison is stepping down as ceo but staying on as executive chairman and chief technology officer. also the firm named two of ellison's company as ceo. so are two heads better to run a company? mary thompson has more. >> reporter: after 30 years in the pilot's seat, oracle's ceo larry ellison will be replaced not by one, but two of their wing men, co-ceos are rare in corporate america and if the arrangement works experts say it is because the division

he will continue to wield considerable power here at oracle. but by giving up his ceo title, he's showing he has confidence in two successors, and their ability to chart the future course of the company. larry ellison is the longest running ceo of a tech company. he's been oracle's ceo for 37 years since he started the company in 1977. it also made him wealthy. forbes said he's the world's fifth richest man worth over $51 billion. at age 70 he's relinquishing the ceo title but not the power to keep running or arc will his way. he will become chairman and chief technology officer. that leaves him in charge of the software company's engineering. two others will succeed him as ceo. katz will focus on legal matters, while hurd, a former hewlett-packard ceo, will leave the company's marketing and sales. both have been highly visible at the annual world coverage, at a gathering for the worldwide customers. ellison as chairman and hurd and katz as ceos will run oracle. some say it may lead to confusion over who is charting the company. >> at the end o

just who are oracle's two new ceos? long time exec safra catz and former hewlett-packard exec mark hurd. the two have already been working as the company's copolice departments. hurd you might recall was at hp but resigned in a firestorm after being investigated in 2010 on accusations of violating the company's sexual harassment policy. he had a relationship with an outside marketing contractor. hp concluded hurd did not violate its policy, but said he submitted inaccurate expense reports which were intended to hide a close personal relationship. >>> just into our newsroom, an apparent act of vandalism at a south bay fire station. investigators believe someone used a bb gun and shot at two garage windows at fire station 35 in south san jose. that station is located on poughkeepsie road. investigators believe it was a random act of vandalism and not a targeted attack on firefighters. the shooting happened between 3:00 and 6:00 a.m. fortunately no one was hurt. >>> well, some of us got more than others. on the left, a liv

oracle's first quarter earnings missed forecasts.res fell 2% in after hours trading and are down about the same today in europe. so another big tech story today. will. >> hampton, thank you very much. >> apple fans rejoice. the long wait is over. okay. it was just a week, but today you can get your hands on the new iphone 6 and iphone 6 plus as the smartphones officially go on sale. our own morgan brennen is with the apple. lining up outside the company's flagship sore on fifth avenue in new york city. morgan, what are you seeing? >> oh, my goodness. it is quite the big apple circus here, pun intended. we are outside apple's manhattan flagship store. the lines are huge right here in front of the store, but they stretch about 10 blocks up fifth avenue already. now, this store is typically open 24 hours a day, 365 days a year. right now it's closed. it has been isn't midnight as the folks here are preparing for the launch. those doors are opening again at 8:00 a.m. eastern. we've spoken to apple. they are staying mum about what invento

oneonly steve odland, ellison is stepping down at oracle.king forward to a ceo odland,ion with mr. former ceo of office depot. let's continue our discussion on china. >> the historic ipo of alibaba. we look past the hype to consider the symbolism and the questions that it inevitably raises. john joins us now. economy seems to trump all investors. there are a lot of questions about the political affiliations . >> i think the fundamentals are fantastic. jack ma has built a fantastic company. the international opport are better. there are questions of the ownership structure. what kind of regulatory changes might occur in the future in china that investors do not have any advanced notice of? and the rules of the road have changed. they did not have any say in these changes. and, there is a lot of uncertainty there. >> you also point out that the u.s. and china do not have an extradition treaty, which could be a problem. >> sure. in the limit, disputes happen now and then. usually they get resolved one way or another. they are not important unle

oracle's new chief operating saying says they have a at oracle that the silver medal is the first loser. we will chat with her and ask what she thinks about the acquisition strategy when we return. >> you are watching bloomberg west. i am cory johnson in for emily chang. there is a new ceo at oracle. , shee accepting the role aggressively did over 100 deals including peoplesoft and microsoft systems. i sat down with safra katz today. brett, let's talk. i had a really interesting talk with her. i thought i would tell her -- tell you some of the things she told me and you can tell me what it means. a lot of the conversation we had is on bloomberg.com. one of the things she said was they are taking a big shot at sap and their acquisition of concur. she said when they got the job -- when she got the job as ceo, she got all these congratulations from her friends . her father said i am so proud of you. she got in her car that night and said you know what? the biggest thing that happened sap blowing most of their cash on concur. what next? dairy queen? >> i think that was a big deal that invol

he owns a quarter of oracle's stake around $48 billion worth.d there will be two ceo copresident mark hurd and safra catz the chief financial officer as well will step up and become coceos as oracle. they announced earnings that were under expectations. its stock is down 2% in the early going. >>> chinese e-commerce giant alibaba's long anticipated ipo starts at $68 a share. raised $21.8 billion. biggest ipo ever for a u.s. listed stock. it's the second largest ipo in global history behind agriculture bank of china's $22.1 billion in 2010. big news for yahoo. it owns more than 22% of alibaba. it's going to get a big windfall today of about $9 billion and still will have $25 billion in the company. let's take a look at the big board see how we're doing. so far not trading down now alibaba 64 points. nasdaq up 13. s&p up 6. frank and michelle, back to you. >> when do the shares go on. >> reporter: we have to wait for the underwriters in alibaba's ipo to release the shares. they have to make sure everything went through according to sec regulations

larry ellison is stepping down as the oracle company's ceo. he became the fifth richest man in the world during his time there. he will now serve as an executive chairman and chief technology officer. in an unusual move, two people will replace ellison as ceo. mark hurd and safra catz will hold the title. they are currently presidents at oracle. hurd was the ceo of hewlett- packard. he was forced to resign from the company back in 2010 after being accused of sexual harassment. ellison twice dropped out of college before creating one of the biggest business software companies in the world. he turned 70 last month and has been at times a very polarizing figure. analysts say while it may be a surprise, it isn't a huge shake- up for oracle. >> similar to what bill gates did when he stepped down as ceo of microsoft. he remained as chair and chief technology officer. so he will still be there full time directing technology and ultimately as chair, he will be responsible for the overall operations of the company but not on a day-to-day basis. >> orac

ito and founder of oracle is stepping down.re larry ellison will still play a bigger role at the company and will serve as the attempt chairman. ellison will also take the role of chief technology officer. he said he was leaving as part of a planned succession. former investment banker and former h pc e o will replace ellison as a cold sea eagle of oracle. 70 years old at a cent a billionaire fount oracle in 1977. with $1,200 of his own money. >> pam: >> pam: home depot now says an astounding 56 million credit card were compromised in recent data preach. kron4 grant lotus top to high-tech security expert about with customer should do now. >> you want to take a look at your credit card statement and debit card statement for the next couple of months anemometer. >> pam: will be back tonight at 11:00 with the weather and news. good night. ♪ rudolph the red-nosed reindeer... ♪ (house) we are condemned to useless labor. fourth circle of hell. charting goes a lot faster when you eliminate all classic poetry. writing down what we alre

declined comment from oracle. >> by 4:00 p.m.y will have a comment. >> maybe. >>> another horrible execution video from isis. are we at least able to gather more intelligence? we've been reviewing all three of these horrible videotapes to get some answers. $21. could something that small make an impact on something as big as your retirement? i don't think so. well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. ♪ sweenjoy it all...ry! 'cause red lobster's one and only endless shrimp is now! endless choices! endless variety! kick it up with our spicy new wood-grilled sriracha shrimp and it's back: parmesan crusted shrimp scampi! the year's largest variety of shrimp flavors! so many to explore! as much as you like, any way you like! endless shrimp is here! but not for long. so hurry in and sea food differently. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelve

it is the end of an era at oracle. ceo larry ellison said he is stepping down from the helm of the company he founded almost 50 years ago. he has been replaced by two company loyalists. 'sey will take over as co-ceo and they were praise yesterday on the conference call. >> they deserve the recognition and they deserve the ceo title and i'm happy that her management team continues to look forward as a team. bloomberg west editor-at-large cory johnson followed the story since it wrote yesterday. larry ellison will stay on as the chairman and chief technology officer. is this kind of window dressing at oracle? >> i think the transition has been underway for quite a long time. that katz will have is the role she has had and the job functions will remain the same. larry is still the largest chair -- shareholder and chairman. the chief technology officer thing is important. he has always been very deeply involved in the trenches of the technology the company has developed and in later years, the technology they acquired. exe

oracle was trying to offer customers better solutions. it runs through thursday and commuters take note. howard street is closed between 3rd and 4th until then. there may be some muni delays in that area. >>> during the interview tonight on "60 minutes" president barack obama admitted his administration under estimated the tearist group, isis. cbs reporter on where the white house plans to go from here. >> reporter: "60 minutes" on sunday, president barack obama acknowledged they misjudged their threat. >> i think they underestimated what had been taking place in syria. >> reporter: in iraq, the president said that the u.s. intelligence overestimated the ability in the will of the iraqi army to take on the militants. he blames the former prime minister for weakening the military. >> the prime minister was much more interested in condollidating his base. >> they must battle the militants, he ruled out of the the use of american troops. but the house speaker say u.s. forces may eventually have to hit ground. >> we have no choice, these are

right now you're looking at oracle just out with earnings. >> big news from oracle. larry ellison stepping down as ceo. he will be replaced by two individuals. mark hurd and safra katz. both are ceo of oracle. larry ellison will stay executive chairman and be the cto. the miss on the street from estimate of $8.77 billion, liz. eps coming in at 62 cents a share. also a miss. big headline, larry ellison stepping down, two new ceos to replace him. liz: he has been quite the charismatic leader, hasn't he, jo. >> absolutely. fascinating guy. liz: jo ling with the news. larry ellison, or not to be on the day-to-day part of the company running it. let's get back to dan stesich on floor of the cme here. what part of the market, whether it was treasurys, transports once again moving higher, had such a great day yesterday? did you look at say, there is the story of the day as subsector going on for all of the news front? >> i looked at the market overall today. i really didn't pay attention to specific sectors because it seems like a rising tide lifts all boats. that is what h

oracle competed vigorously with workday which happens to be headed by executives who oracle took outlesoft. we'll cover it all here on cnbc. >> i heard aerosmith and mclemore there. >> that's true. >> ford down 7% after lowering profit guidance. now making big changes to its most popular vehicle. what would happen... if energy could come from anything? or if power could go anywhere? or if light could seek out the dark? what would happen if that happens? anything. mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪ but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. here. dow down 19 points. in washington, the s.e.c. meeting on blackout rules for nfl games.

oracle and coffee day are trending. also george clooney. the actor married human rights lawyer amal almuddin in venice this weekend and forbes 400 released its list of 400 wealthiest americans. bill gates still tops the list. he and his 81 billion bucks. follow us on twitter at cbssf. >>> volcanic still spewing. at least 31 people have died. no word on how many more people may be stuck on the mountain. rescue efforts had to be called off because of the rising levels of hazardous gases there. they have not seen a major eruption in 35 years. people on the mountain say they got absolutely no warning whatsoever. lawrence, you and i were chatting. mount st. helens is rattling a little bit, too. >> can you believe that? starting to come awake again. >> 1980. >>> i tried to sell some canisters of that ashway back then. >> how did did that work? >> i sold nothing. now i'm the weather guy. around the bay area we are seeing low clouds and fog beginning to break up outside. but ever so slowly. still some clouds hanging out over san francisco right now

last september his oracle team usa won the cup. as for the next americas cup, 2017, ellison is eyeing honolulu as host city. >> the question, should scotland be independent country. the answer no. just reported moments ago. now it is much more complicated, scots reject the referendum that threat tuned dismantle the union with the uk. voters overseas watched closely as did scots in the bay area. nbc bay area's derek shore live in san francisco, at a scottish pub. the" how they move forward, both countries. >> yeah, right, jessica. nbc news is reporting tonight that indeed, the scottish people will not be leaving the united apologize for the siren there. at edinburgh castle, many left disappointed they want to see it leave the uk. but people proud at the process. sports and music replaced tonight with news feed across the pond on the big screens and on the little ones. here at edinburgh castle scottish pub. >> bar manager allen black like many scottish americans kept a watchful eye on whether or not scotland would indeed vote to remo

. >> it finally happened at oracle. larry ellison is stepping down at ceo, being replaced by co-ceo staffers safra catz and mark hurd. he's 70. his mow away from the ceo role comes earlier than expected. it has had ten splits since then. the stock is up nearly 90,000% since its ipo shares following the news of what happened and a profit warning. it has been a little bit uneven in terms of the results for the last six quarters or so. this time results were hurt by weak hard wear sales. this was the most interesting story for me today for so many reasons. the co word, if you go back to ancient rome, coemperors, whatever they were, they didn't work. >> it never works. >> remember reed and sandy wile. people do say, though, that these two have been basically running the company asco presidents for four years while larry focuses on technology. >> he'll be chairman. saffer cast is on the other side. they've been, woulding together for four years, but they've been someone to kind of force that. it tends to create power struggl

he has been criticized for his out sized compensation at oracle.lders were upset to learn he was paid nearly $77 million. i know you are fired up about inequality too, based on the tweets you have been sending me. i promise not to get too bogged down in chief political bickering, but continue to speak out folks i know with good solutions. in the interests of time let's call this man academic director of the martin institute at the university of toronto. you wrote a fascinating piece on the rise in what you call the likely fall of the talent economy. now first of all, what do you mean by the talent economy? >> i mean an economy now more dominated by folks who have to demonstrate independent judgment and decision-making in their job, and that's about a third of americans now. two times up from what it was 50 years ago. and those folks are driving the fortunes of companies, and extracting more and more and more of the value out of the economy, and the rest of the economy is -- is not moving ahead, so the tricky thing is talent is great. it's great to

. >> we love oracle.everything is oracle. >> the benefit for the bay area goes beyond the economic impact. >>> happening now one of the world's biggest technology companies is taking over san francisco's masconi center and the city is waged to rake in millions. the company welcomes new co ceos. the change has caused a buzz among attendees who are flooding hotels and restaurants. healther holmes is live at the center. >> reporter: pretty much all day and all night the streets here have been clogged with lots of beige wearing conventiongoers. everywhere you look you can see these big bright banners from restaurants to hotels to other businesses all of this oracle red means lots and lots of green. all around the masconi center in san francisco signs of mega convention of the year are everywhere. 60,000 information technology and human resource execs from 145 countries are flooding oracle open world. bruno santo is from brazil. bruno is new to the conference. this is the first year his employer decided to get

big announcement came on day when oracle earnings missed expectation an they have grove changes. former investment banker and the golden gate university school of business. >> he wants to make it biggest cloud company in the world but it's only 5 percent. the only main part of the business that is groyshtion he appears to be following in the foot steps of microsoft bill gates who moved up to chairman after being ceo. awful son had a salary of 77 million dollars last year no indication how changing title will impact the pay. oracle has already made ellofson rich. forbes rank him the fifth the welliest person in the world. he owns most of the island of la nye in hawaii and can engage in yacht racing led to america cup held in san francisco last year the team that ellofson team won 2 times. but is the team of cats and heard and ellofson move oracle no position to become the leading cloud base database provider. some analyst argue confusion who is the captain. >> ship only in the end of the day can sail well best with one captain. and if you don't tend to give that up in the midst of

big changes today for redwood city based oracle. larry ellison is stepping down as ceo of the business softwaremaker after 37 years. ellison will still have a major role, taking over position of chairman of the board technology offic officer. he's handing over the ceo position to his co-president, mark hurd, the former ceo of hewlett-packard. ellison founded oracle in 1977 with $1,200 of his own money. the 70-year-old is currently one of the world's richest men, and also owns stakes in other companies. ellison brought the america's cup to san francisco last year. >>> right now, we want to get to breaking news out of washington, d.c. president obama preparing to make a statement on the senate's vote this afternoon. let's pick it up live. >> this includes support for iraqi forces, strengthening the iraqi government, providing humanitarian aid to the iraqi civilians, and doing their part in the fight against isil. here at home, i'm pleased that congress, the majority of democrats and a majority of republicans, in both the house and the

oracle -- allison will become oracles chairman after leaving the company.paying a 20% premium for the company which gives it a boost in cloud computing. let's stay in tech land. alibaba poised for the new york stock exchange. the company set and ipo record by raising 21.8 billion dollars. it priced the top end of the range. >> this is the story of the street of dreams. this guy jack mock cobbles together $60,000 in 1989. billion innto $28.8 this share ipo. the biggest ipo in the tech sector ever. doing it alone, there are about 6000 millionaires along with him. least $1oyees own at billion worth of stock. the only thing is, he wanted hau, not to become too which is chinese for to in the bling. it is a derogatory slang term for chinese new rich. many employees or former employees have already started their own tax startups. pretty extraordinary that now you have in this town hong jau, all of these people with all of we areney and of course just several hours away from the opening in the new york stock exchange. >> you told me this morning that you thought he

from his bay area tech company -- oracle. >> pam: after 37 years.the c-e-o and founder of oracle is stepping down. billionaire larry ellison will still play a big role at the company.and will serve as the chairman. >> pam: ellison will also take the role of chief technology officer. >> pam: the software company says ellison wants to focus on product engineering and technology development. >> pam: former investment banker safra catz and former h-p c-e-o mark hurd will replace70 year old ellison.now a billionaire.founded oracle in 19-77.with 12-hundred dollars of his own money. >> pam: still ahead. >> pam: new video from the terror group isis. details on the latest threat -- and repsonse from the u- s. >> pam: then. people infected with ebola >> pam: turning to the black market. the extrems they're going to, to cure themselves. to, to cure themselves. can't say thank you enough. to, to cure themselves. you have made my life special by being apart of it. (everyone) cheers! glad you made it buddy. thanks for inviting me. thanks again my friends. for everything, for all your help. through all lif