1997 in all the time i have been with pearson. they are synergies they can be achieved through partnership, and one of the ways we got to know nikkei was through the partnership we formed with them around english language teaching to the corporate sector in japan over the last few years. so personally, emotionally, a difficult decision for me, difficult decision for the board. was not one we took lightly. it was a year or more of deliberate process of making sure we devaluated work through the different factors. and one that was taken after extensive consultation, not just relying on barber, but engaging the leadership of the "ft" as well and unmistakably reaching this conclusion that this is a time when journalism is being rethought and reinvented, and my job was to get "ft" the very best crack at emerging from that in better shape than ever before. francine: the final contract with nikkei, you preserve the journalistic independence of the "ft"? john: my view is that what is most important is to find the right owner. you judge th

pearson have been fantastic owners for 50 years.e have been great guardians of the editorial integrity and quality of the journalism, but we also helped the "ft" to become global, to make the initial shift from analog to digital. but inflection point is a greatly overused word, but in this case i think it is entirely relevant and appropriate. because increasingly we are now seeing more and more people accessing news analysis, journalism through social media, through twitter and facebook and all sorts of emerging channels and we're seeing more people making the shift from desktop to mobile. that is a huge opportunity for the "financial times." it can reach its journalism to more people than ever before in its history. but it is a great challenge as well, because it means it has to remake and rethink how it makes itself in this journalism. that requires absolute attention and focus. i think it requires scale as well. the "ft" is a 300 million pound journalism business in a 5 billion pounds education business. it was going to be increa

>> yes, i mean, really, there's three benefits to pearson's kids colab. the first benefit is for pearson because i don't know what it's like to be a kid in 2015. do you? there's no idea. so what we have to figure out is what are those realities. so by having ongoing engagement with kids, we're able to get those insights. there's a benefit for olivia and other kids colab members because they're getting a look behind the curtain of what it's like, the design and development process of products and solutions. we're also benefiting the end users of these products, which are kids in school, because they're gonna be able to use products that their peers worked on. >> i have to ask mom here to get in. christina, what is it like having olivia come home now versus before? does she come home motivated, excited? is she happy about getting to this colab? >> you know, she loves colab, and we travel quite a distance to do it every week. we fight some traffic. but she had had the opportunity to participate in a kids colab camp over the summer, and she loved it, so we kn

pearson and now mr.n, one of the largest shareholders of valeant, appear to be doing the same. >> i know you read the same article we all read in "the wall street journal" and one of the quotes sh this that pearson may to leave. it sounds like ackman is basically backing away from that article and backing away from what he might have conveyed to the company through these correspondences. >> look, i think the situation is so fluid. there literally could be another story at any moment. i think it's a keeping our options open kind of matter of fact. saying, look, if the situation spirals out of control, who knows what's going to happen and what the future of mr. pearson ultimately will be. we simply don't know because we don't know where the news flow is going to take this story next, if anywhere, but the fact of the matter is at least for now even with the stock continuing to sell off, breaking $80 a share for first time in two years, the board is still backing mr. pearson and one of the largest shareholde

this is my job site right now. >> as a construction worker pearson makes about $25 an hour. showing up early, staying late to prove he's worthy. >> you can count on whether it is the third chance or fourth chance you can count on someone to do the right thing if given a chance. only if given a chance. >> research has shown that employees with criminal backgrounds are only slightly more productive than those without records. only eight weeks on the job pearson has already played an impression on his boss. >> if you didn't tell me ryan had a previous criminal record i would never have known, i think he's going to go far in this business. >> he's the exception not the norm. more accepting of criminal background tend to be low wage jobs with few benefits. >> those are not careers and those are not things that help people turn their lives around and stabilize their families and pay their bills in the long run. >> still some say the rules are too rigid, and can force employers to take too many risks and many are too new to conclusively prove less recidivism. but martin and other a

do you play -- lay the blame on pearson?n, for sure as ceo, but i think there will be some difficult answers that need to be addressed -- or difficult question, that is what was the board's responsibility? what was the auditor's response ability? what was the regulator in the pharmaceutical industry's hand in all of this. the auditor and the company disclosure -- and looking at just the transactions of the insurance. those questions need to be addressed. betty: this stock is trading at $77. back in august it had reached a 52 week high of 263. where does it go? anthony: i think it will move on news. that i would stock be recommending people buy. if the allegations and news and issues that are circling the name come to fruition these could be damning. betty: what could put a bottom to this? where could the bottom be? anthony: where can you find bottom? i think when we get answers to the key questions of what happened and what was known and philidore, ourto estimates were they were a significant part of the organic growth. bett

earlier this year, pearson sold two of its most well known brands. exclusive interview, i speak with the group's ceo, john fallon, about the impact of selling those established brands. thank you for speaking to bloomberg. we have been talking about the sale for as long as i can remember. when did you decide it was for sale?

k'shawn pearson is facing a lot of charges tonight including reckless driving. police and canines caught up with k'shawn pearson the parkway, that is after he and proper passengers bailed out of their car. the passengers have not been charged but police are looking into the possibility of all of them may have been breaking into cars on wednesday night in prince william county. the car k'shawn pearson was driving was reported stolen. >>> the man tonight was a scene of a horrific murder has been sold. or attitude -- are first editors say it sold for more than $3 million. that is far below market value. savas savopoulos, his son, his wife and the housekeeper all murdered in the home. there were no be peers, the house was sold as is. the identity of the buyer is unknown. >>> washington dc has become a market for illegal gun sales. the federal bureau of alcohol, tobacco and firearms says washington dc has become one of the biggest markets for illegal guns brought in to root overstates. -- brought in through other states. >> reporter: let's get to the criminals first.

in a statement, pearson said -- this reminds me of aig. going awfully bad, the goldman sachs risk managers to make them go worse. david: it seems embarrassing because the reason he took the money was to make a charitable donation. erik: some of it was. it was to duke university and building amenities swimming pool. some of it was to pay his taxes and some of it was to buy yet more valeant stock. stephanie: it seems strange when you think about all the people who have negative opinions about market participants and corporate ceos and the banking industry, they look at this and say i'm sorry, this does not add up. erik: this is what happens when your stock is in a freefall. it's not that unusual for corporate executives to pledge stock in return for loans if they do not want to sell or if they don't have the cash. if they do that, they better be prepared for it to get sold as the value goes down. the bank wants to protect themselves. erik: it's a double edged sword, that leverage. stephanie: the bank should protect itself. i will take you to

pearson said?fold, first thing is that over the past month, valeant from a cynical stock was down 35% based on some of the comments that came out of bernie sanders, follow-up articles by the new york times. my first two articles wished to -- which discussed price gouging and operations. the stock was down on valeant pharmaceutical earnings. it was last week the stock took another leg down where i started phildor and their undisclosed relationships. what is most unsettling is one key made analogy of yelling fire in a crowded theater. what i did as i walked into a theater, i smelled a lot of smoke, and i said, excuse me, there might be fire in this theater. there is a big difference between the two. it is three days later, investors had a chance to walk through the theater, see the theater owners response and they , actually decided to leave the theater. let's keep exactly what they said in context. >> andrew, i want to take you inside bloomberg terminal to show you how valeant pharmaceuticals traded

hampton pearson has more. >> tyson foods wants the supreme court to overturn a $6 million judgment involving some 3,000 workers in iowa. at the heart of the dispute is how much and how many workers should be paid for the extra time spent putting on and taking off protective gear. tyson lawyers argue those iowa workers had more than 400 different jobs and not all of them were eligible for the . >> the key to this case is whether or not you can bring together people who have very different jobs, very different donning and doffing of their sanitary work clothes and lump them together as a class and prove your ability to recover based not on any individual's assessment of the on the avera all of these activities. >> justice anthony kennedy oftentimes the swing vote on the high court challenged tyson not keeping accurate records. tracking the overtime issues. it's the third time in recent weeks that the justices have heard arguments seeking new limits on class action lawsuits. pro labor groups and consumer groups however are cautiously optimistic about this case. >> it's potentially very sitting

the journal is reporting he told a board member that pearson may have to go. ackman believes pearson is willing to take the steps in order to benefit shareholders. he lost since taking a 6% stake in valiant this year. >> attorney general is investigating exxon mobil over whether it mislead the public and investors with the risk of climate change. it centers on whether exxon intentionally hid the risk that climate change could pose to its business going forward and clouding public debate on the issue. the office is conducting a similar probe of peabody energy. trading in german trade we're down by .6%. and men's warehouse is warning it's results will fall well short of analyst estimates due to the retailers transition away from the buy one, get three free promotion in the joseph a bank division. it planned to overhaul it's marketing strategy anyway as there wasn't enough demand from men wanting to buy four suits at a time but men's warehouse didn't expect traffic to drop as much as it has and consumers didn't want to drop unless they were getting free stuff. lo

for "nightly business report," i'm hampton pearson in washington. >>> let's turn now to our guest for more context on the rising tensions around the globe and how it will impact travel and why the market's reaction remains relatively muted. david mill pass and sean hennry president of crowd strike services a security firm. welcome to both of you. shaun, let me start with you. this weekend, would you let your mother or your son travel to europe? >>. >> i actually do have family members traveling to europe. they asked my advice. i agree with other people that i've seen talk about this pretty adamantly about not being fearful that credible threats are being addressed that there is extra security, there's a lot of effort that's going inning to identifying using intelligence to look for these types of attacks. and i think that it's really critical that we not slow our lives down completely. we've got to be aware and alert certainly. we don't want to be naive and reticent, however and it's really critical we continue to move forward in a productive way but also in a way that allows us to be

cindy pearson is the head of the national women's health network. >> generations of women have trusted that when they pick up their packet of pills at the pharmacy that's that it's going to be put together in the right way and when companies mess up, ey need to do the right thing. >> reporter: pearson says winning will be tough. it's difficult to prove the women got pregnant because of the mistake. qualitest says the number of affected packets of the small. of the 500,000 packs retetned in the recalal only 53 werer improperly packaged in the reverse order. in an e-mail to cbs news, t company says it has only been able to confirm the sale of one defective pill pack to a patient. and there have already been multiple settlements for this ckaging defect, scott. we spoke to several of the women who tell us that those unplanned births were life altering. >> pelley: michelle miller, thanks, michelle. there was a surprise verdict today in the so-called good fell as mob triri, and we'llll have thatat next. does it make the short list? yeah, i'm afraid so. it's okay. this is what we've been plan

there are some major changes we are learning about regarding social security and kurt pearson is here to walk us through some of these changes. kurt: with the budget bill that was recently passed, we are learning of some of the benefits that were available under social security have had a sunset clause put to them. what that means, for those who are full retirement age, there used to be a benefit where they could file for their benefit, spouse could come in and claim spousal benefit under their earnings record. that particular provision as we understand it, is expiring may 2, 2016. this is a very important piece for those who are close to filing for social security to take note of. visit with their financial advisor or cpa and make sure that if there is a deadline coming up, that they are planning to file anyway. they may want to really consider taking a peek at that prior to may 2. elizabeth: what kind of changes are you recommending for them? kurt: if they still want to try to implement that filing, suspending, and getting spousal benefit they really want to take a look at the numbe

hampton pearson takes a look at what to expect and where we stand. >> reporter: most of the economistsnd fed watchers are looking for a rebound in job growth in october. the consensus forecast calls for an increase of 180,000 jobs added to non-farm payrolls, well above the average of just 139,000 for august and september. with headline unemployment holding steady at 5.1%. >> we're expecting about 180. if it comes in anywhere north of 150, i think the market will still believe that they plan on tightening. >> reporter: it's the first of two employment reports that will be on the desk of monetary policy makers when they meet in december. a meeting described this week by fed chair janet yellen as a live possibility for the first rate hike in nearly a decade. >> what the committee has been expecting is that the economy will continue to grow at a pace that's sufficient to generate further improvements in the labor market and to return inflation to our 2% target over the medium term. >> reporter: the economic data is mixed. last week jobless claims posted the biggest weekly increase since fe

hampton pearson digs into the numbers. >> reporter: the blockbuster october jobs report produced theiggest monthly increase in new jobs in nearly a year and saw the headline unemployment rate drop to 5%, the lowest in 7 1/2 years. >> try to spin it some other way but it is really good news. >> i think this is good news. if the fed goes a quarter point i don't think that kills the economy. long from it. >> reporter: the rebound in job growth even prompted a leading federal reserve dove, those monetary policy makers not in a rush to raise rates, to now say the first hike in nearly a decade could indeed happen in december. >> i've said for, you know, quite some time that, you know, the real side of the economy's looking a lot better. we've seen substantial improvement in the labor market supported by our policy actions. and the other branch of this is do we have confidence inflation's going to get up to 2%. >> in october the private sector added 268,000 new workers and job gains were widespread, including 189,000 service sector jobs with big gains and professional services, health care,

pearson made the comment about you yelling fire in a movie theater.nstead we have seen the stock reached its highs of the session, although it is off three dollars. i wanted to get your reaction to some of the action the company has taken. what does that signal to you? >> they have made a lot of money. him joining the board is like my mother saying my report was correct. what does that mean? it is irrelevant. >> what about the reaction from analysts saying the concerns are overblown? is that disclosure sufficient? twofold.swer is as for making a small percentage of overall sales, the important part is what it represented to their organic growth. if you compare them to a johnson and johnson, they are still relatively expensive. the reason they are given this premium is because of organic growth. as for no accounting fraud, in my opinion, through the research of publicly available information, if this is not an accounting fraud, it is an insurance fraud. insurance fraud will eventually lead to accounting problems. as much as mr. pearson has made me the

gina laden, and chris hahn, and katrina pearson. the poll in south carolina, carson is 1%age point ahead of trump, trump of at 30 now at 27. 26 not too low from where he was, carson more or less doubled his support, it feels like a real battle. >> one of the interesting things about the numbers could is that trump has remain steady since i believe in june or july, he held those numbers. so numbers that carson has accumulated have come from other candidates, not from trump, this tells you who the strong steady candidate is in the race. charles: katrina, i get that part. but, some people would argue that if feel like perhaps trump has plateaued. he sit his number early out, and has bin spinning his wheels, he is not gaining that creates opportunities for others. >> i think normally by this time, you would have seen half of the field begun. but everyone is gone but everyone is in the race, the numbers spread out, the fact they are so close in polls, this is people want somebody outside, all that needs to be done now, it can be done tom

. >> if reporting is on point, would indicate bill ackman was backing away from support from mike pearson saying he may have to go. it was the phrasing in the "wall street journal." this sort of rings a bell when you look at ackman and jc penney. after he said he has to go, ackman sold his shares. >> i had two reactions to that disclosure. if you look at the fine print in the story, bill put it as a theoretical e-mail to the chairman of the board saying if something to the effect of if mike pearson is going to take on a bunker status than communicate and get the message out and acknowledge there was no fraud, which is his belief, he has to go. sort of a theoretical. by the end of the story, ackman is supposedly satisfied with pearson's reaction and the way he communitied with investors. i'm sure the truth is somewhere in between. we know as journalists, oftentimes when it gets to the public domain, the ceo may be under fire. i don't know that's the case here. ackman is not the lead director. >> in these situations, the sentiment is one way here. we can't stop talking about it. doesn't see

goldman sachs making a margin call on ceo mike pearson.t firm selling more than one million shares of valiant stock. kate kelly joining us with the latest in a story, kate, that has something new every day. >> i know, scott. never a dull moment with the valiant situation in recent weeks. shares are up today after another huge rout yesterday. compounded, perhaps, by that stock sale that goldman sachs made when valeant ceo mike pearson was unable to put a pass to meet a margin call to the tune of $100 million. that stock acted as collateral, and when it dropped in value, goldman asked for additional cash to secure the loan, but it added, nonetheless, that that stock sale i'm referring to to ongoing concerns about the pharma company's shares. that had been under fire of late. on paper valeant appears to be one of the most popular hedge fund stocks. the 11th most widely epd held on the top 50 list that it compiled last quarter, and to have respected new move twal fund names ru an tops the list, and they've expressed support for the company fol

it was pearson's number two.was selling at a fraction of the multiple that valeant was selling. valeant's story is not going that premium going forward. they can't fund big deals. so the story to me is damage for the foreseeable future and if it gets to normal multiple, you're not seeing much upside to it at all, maybe none. >> ackman had an interesting comment on volatility. he was asked about crowded hedge fund names. he talked about it can be their friend because if a stock gets cheap and they hang onto it, maybe it gives the company a chance to buy back shares. >> kate, thanks. after the break, pete seeing something unusual in the agriculture space that has him jumping in. also with just three hours left in the trading day, we look ahead to the earnings on deck. stocks are down today. dow has been down about 200 points, and there it is down 196. >> a little off the lows, scott. >> at least the last hour. >> we'll be right back. >> 30 points off the lows. >> send it to break again. >> stay tuned. with fidelity

cindy pearson is the head of the national women's health network. >> generations of women have trustedt when they pick up their packet of pills at the pharmacy that it's going to be put together in the right way and when companies mess up, they need to do the right thing. >> reporter: pearson says winning will be tough. it's difficult to prove the women got pregnant because of the mistake. qualitest says the number of affected packets was small. of the 500,000 packs returned in the recall, only 53 were improperly packaged in the reverse order. in an e-mail to cbs news, the company says it has only been able to confirm the sale of one defective pill pack to a patient. and there have already been multiple settlements for this packaging defect, scott. we spoke to several of the women who tell us that those unplanned births were life altering. >> michelle miller, thanks, michelle. >>> there was a surprise verdict today in the so-called "goodfellas" mob trial, and we'll have that next. . >>> winds are howling across the great lakes tonight. thousand have lost power. gusts topping 60 miles a

pearson can hold on to his job. >> wow. wow. >> don't you have to ask the question?> you think they have, like, a director's -- >> i wonder whether mr. ackman at some point becomes -- this is just me curious about it. does he become more opposed? >> he's been issuing statements -- >> he's been supportive. >> behind them 1000 percent. >> then they have the two value act guys in there, mason and the other guy. >> citron, scott wapner has citron. >> andrew les will be on citron at noon. >> you want to go to the piece of tape? >> yeah. the ceo of malinckrodt -- the new strategy is you short tweet. so it's working -- >> didn't hillary do that? >> tweet sends the stock down almost 25% after they say malinckrodt is potentially worse than valeant, even though in the original report valeant was another enron. we had the co on "squawk box" this morning on malinckrodt speaking specifically about some of the allegations. here's what he had to say about the relationship with specialty pharma. >> we do use specialty pharmacies. we don't own them. they are a third party participant

cindy pearson is the head of the national women's health network. >> generations of women have trusted that when they pick up their packet of pills at the pharmacy that it's going to be put together in the right way and when companies mess up, they need to do the right thing. >> reporter: pearson says winning will be tough. it's difficult to prove the women got pregnant because of the mistake. qualitest says the number of affected packets was small. of the 500,000 packs returned in the recall, only 53 were improperly packaged in the reverse order. in an e-mail to cbs news, the company says it has only been able to confirm the sale of one defective pill pack to a patient. and there have already been multiple settlements for this packaging defect, scott. we spoke to several of the women who tell us that those unplanned births were life altering. >> michelle miller, thanks, michelle. >>> there was a surprise verdict today in the so-called we'll have that next. >>> winds are howling across the great lakes tonight. thousand have lost power. gusts topping 60 miles an hour hit lake michigan t