peltz. >> thank you for having me on. >> tell us a little bit about how this app you're pitching and from big investors works. >> sure. so it's really about not connecting people digitally online like other social media products but helping them connect in real life so it's about answering the two most frequently asked questions you have with friends, where are you and questions you have from your friends where are you and what are you doing? you can see where your friends are in realtime and message them to help meet up and see what's happening in your network. >> so if you're at a concert, it helps you find your friends. >> it helps you discover who else is there, discover what concerts or events may be happening in your area and see different angles of that event, backstage, what's happening from different perspectives at that event. >> i'm trying to think about advances in the technology needed to happen to make your app possible what were they >> sure, so two things, mainly really about creating a technical experience that was not only battery efficient, but location accurate. f

especially with peltz in there fighting for you p & g, speck wi stick with cramr mark somewhere promise it for you right here on "mad money." i'm jim cramer and i will see you tomorrow >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ who believe they've created a better version of something all babies need. ♪ hi, sharks. my name is susie taylor, and this is my husband. hi, sharks. my name is steve taylor. our company is bibbitec, and we're here today seeking $40,000 for a 14% stake in our company.

>> i knew he had benchmarks to make, nelson peltz, let's be clear nelson peltz is one of the best activists. not just some cook on the side of the street. he basically works with companies and usually, bob will, bob will i guess -- neil: robert wolf by the way of 32 advisors, ceo, former ubs bigwig. >> what he usually does he makes sort of concerted, intelligent arguments about corporate ceos and how they're acting and how they're not working with shareholders. immelt gave him a lot of rope. more than just long-term problems with ge stock but recent stuff. immelt failed to make cost cut projections. you know -- and these were easy to do. i mean that is what really got peltz annoyed. jeff immelt is great guy. i know him. i used to work for him when he anomaly ran ge was owned by cnbc. neil: you didn't work. you worked for him. >> the people who ran cnbc. neil: they were your boss. >> i being shook his hand a few times. he was a decent, guy. but bottom line if you can't do easy stuff in this environment and your stock has never been, it has been a a laggard as it has been some investor will

but could you ask for somebody better to invest alongside of than peltz i can't think of one person -- so if you're a long-term ge shareholder, an employee, this is all good news it might not be reflected today, tomorrow, in the meantime you have a dividend. hopefully it's safe. hopefully you'll start to see the company pick up the pace it hasn't happened let this play out without me. >> i think this is right it's not a trade, you can't invest in it we came out of the air show. ge is saying, boeing, if you want our engine, you have to make it exclusive. you can't share it with rolls royce. that's a thing ge could win. if they do, it would be a plus for the stock. to your point, josh, these are fundamental things that will take months, maybe even years. you can invest in stock but it's a hard trade. >> we've seen some pretty fast september 31 call buying june 12th when they made the change of the change of leadership, people already scramble calls this is the biggest we've seen, 36,000 of the september 31 calls were bought back on the 16th that's a long, slow slog but potentially a dou

having said that we should say that nelson peltz the activist investor got into this company about ar and a half ago really to put a good stamp of approval on the company but has been relatively unhappy with the progression thus far so hard to say whether that hastened some of these moves today that we're hearing about. >> let's get you caught up on some of the other headlines this hour, as well. uber's board of directors voting unanimously to adopt all recommendations from a report stemming from allegations of sexual harassment at the company. the report is the culmination of several months of investigation by former u.s. attorney general eric holder. a board representative said that the recommendations would be released to uber employees tomorrow it's unclear if any action will be taken against uber's ceo travis kalanick or any other executives but it is being reported that kalanick could take a three-month leave of absence >>> it's a big week for economic data and of course for the fed as well. today the monthly federal budget statement. tomorrow the producer price index. and day

in recent years according to peltz if he was on the show. that they failed to meet certain benchmarks in the as a hedge fund. they were pretty simple benchmarks. into making certain earnings targets. he didn't do it. if you have a stock that is underperforming which i guess you could say that about that. and you don't meet those targets even after this breathing down your throat. your chances are that you will be pursed out. if you have a shorter-term stock choice say year-to-date you will see something kind of interesting. the last time the stock went up like this was when we were there. and that he was putting on the pressure. even though he couldn't follow us. wall street you see the little pop around march. wall street believed us and what they were saying is it was better without him. it was probably time for him to go. he wanted to leave when he gets the stock up to 40. obviously it did not look like that. i just was he that. he actually was shown the door earlier. there was always that big discussion about buying assets and acquiring

this budget includes $397 million in peltz and that's the difference from last budget, plus 397 and icannot tell you what it will be because it's secure rules schools have not been authorized. it will be difficult estimates until that's us, but right now it sits in this proposed budget is a 12% reduction. as it sits right now not knowing the certainty of what's can happen just arrest. unlike last budget there's $397 and it's which is a good start. the parks. and again when you lose 15 and have billion dollars of the revenue it makes a difference. one half our parks do not char charge, when the tier system that many of the parks don't follow their own tier system the interior gives away about $5.5 billion worth of grants and a lot of those certain programs outside of our assets, i think we need to realign this budget and it does, court to make sure that we fund our core responsibilities. the parks are treasures and i think no one understands that more than you and i. but also in my assessment of mind power were too heavy in middle and upper management. so to shift the assets forward we

>> i think there's, nobody know this is package good business better than nelson peltz i did the studyou beat the s&p. few activists you can say that about. i think procter two ways to win the quleeld and the company's well managed, but it's not managed as well as nelson peltz twants to wants it to be by procter. >> what's on tonight >> the best industrial another group they don't want procter or the industrials i try to anticipate the next wave of buying and i like this idea, i've got an industrial people have forgotten about, left for dead and it's going to get resurrected this evening >> you and your deep teases, jim. >> yep great show, thank you. >> see you tonight 6:00 p.m. eastern time when we come back bill richardson former new mexico governor we will eight guess his take on the trump agenda, w u44ns testimony doisp i'm here at the td ameritrade trader offices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for a

the morning, jeff immelt stepping down at ge in a move that faces activist pressure from nelson pel peltz" will be right back for years, centurylink has been promising fast internet to small businesses. but for many businesses, it's out of reach. why promise something you can't deliver? comcast business is different. ♪ ♪ we deliver super-fast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. we do business where you do business. ♪ ♪ >>> good morning, everybody. i'm sue herera here's your cnbc news update russian opposition leader novani arrested outside his home on way to a pager demonstration in moscow he could be held for up to 15 days thousands of anti-government activists challenging vladimir putin's rule for holding protests across russia. >>> manchester police have released new photos as they appeal for information into the investigation into the manchester bombing they show the bomber at different locations ahead of the attack another photo shows a white nissan >>> a plane heading for shanghai returns

are not an activist 3 g operates like an activist i think so i don't know jeff welcomed kneel vonn peltznto the company i thought that was a bit odd whether it was as friendly as i seemed to me, i don't know but maybe he gave him some good ideas. i encourage them to listen to those activists and sees if you can parse those out from short term monetary gains. we got get moving in ge and p and g. >> we'll leave it. bill george thank you as always for the insight. steven, tusa thank you as well >>> busy morning for uber. the company's board of directors as you know voting unanimously to adopt all of the recommendation of former ag eric holder following an investigation into allegations of sexual harassment to the company. kara swisher is the executive editor and breaking details on the story all weekend. kara, good morning to you. been watching your twitter feed as we work this morning and sounds like there's some debate about whether or not travis takes a leave. sounds like you know something >> i do. early this morning someone had tweeted he was not taking a leave. it's not been decided.

influence an activist investor can have, even the their percentage stake is small it's not like nelson peltz had a massive percentage position in ge >> right >> look what's already happened -- >> or carl icahn >> those rules don't apply anymore. and this is evidenced more so of that new, that new road of activism if you are a credible activist with a credible plan, you can exert some sort of change, fairly quickly, at least it seems in this -- >> yes >> and it looks like in this case, they are aligned management is aligned -- there's nothing come out, third point saying -- >> it's also new we don't truly know. >> management has been articulating their need to change strategy and cut costs and buyback shares so that is not new and they have talked in the past about selling assets and things like that. i think it just gets accelerated. >> let's get back to our market conversation talk a little bit about volatility it is at a record low. pullbacks have been minimal, as you know people have been waiting to get in they've not really had much of a chance and history shows with those ingredients, t

. >> and you've got the peltz factor that's the beautiful thing about this is, is he just going to sitprobably not >> but, so, like -- this is a longer term thing. >> not a big pushback to that, but just make the point. like, everyone's saying, if they spun off health care, it was a separate company, it would be worth, you know, much bigger, given relative valuations. the thing is, the guy running it now came from health care, directly, and the last interview he gave, that's like what hays most bullish about so, like -- >> don't hold your breath. >> hold your thought speaking of holding. kayla tausche back at the white house. >> well, we've been helping with the prior administration, providing some leadership and thinking about things we can do both for companies, but more importantly for sme and for consumers. and i think i'm going to raise those topics again >> do you have a venue to raise those topics outside the formal sessions will you be meeting with the president today? >> i think he's going to be there later, but i'm not quite sure about the agenda. >> what's your assessment of

ongoing constructive active engagement with the hedge fund between p&g, david taylor himself, and nelson peltz're willing to engage. we want to be better. taking ideas from the hedge fund as he says he takes ideas from many stakeholders on this company. as it relates to the strategy, he says they're moving ihead with sharpening the -- ahead with sharpening the focus on ten different categories and empowering them to make decisions and operate independently. so they have presidents leading the individual ten categories anything from laundry, to the gillette shaving business, and they're innovating on which markets to go into. this is a big change for p&g. every decision used to be made at the top. at the cincinnati headquarters. so a little bit of streamlining of focus. of course, the big goal is to try and grow top line growth, try and growth the category. that has been elusive for procter & gamble even after it shed a number of brands. taylor tells me they have announced another $10 billion in productivity. that'll come out of overhead costs, costs of goods sold. marketing costs. and of cours

while you talked about nelson peltz, they have not called for breakup explicitly at this point of ge,ord with dupont, he was clear when he said that, you know, we think there's a lot of costs tied up in the company, and we think that the best way to get to it may be through breaking the company into pieces. i suspect that that will be a tactic that he will use here as well >> yeah. >> graham, is ge significantly bigger, do you think, or difficult to operate than other very large industrial conglomerates? seems to me that, you know, others are of similar scale. anything about about ge, mix of businesses, when they got in and out of the businesses that does leave them in the position right here >> i think there is an element of that. all these conglomerates are quite different in terms of that, may share end markets, but their dna is different and history is different, and, you know, ge is a revolving door of investments, but that means strained costs in the company, so e wouldn't be surprised to see some significant cost measures as part of the new plan i just think what you've heard i

that we have been reporting on, procter & gamble, according to a source close to the matter nelson peltzd a notice for a board seat on procter & gamble's board that again is according to a source close to the matter we did reach out to them, to ask them if there had been any filings during this current notice period and a spokesman for p&g said they don't disclose that until the proxy which comes at the end of late summer. we don't have a date on that no comment from trian, but i can confirm now according to my reporting and the source that peltss has filed for a board seat on procter & gamble we have been watching that stock outperform, outperform some of the staples and in a down market got me thinking -- this is a long question since that stake was revealed by trian back in february they'd have a billion dollars in procter & gamble what they wanted this may be a good clue and a good starting point a position on the board. a strong board there are 11 directors currently. meg whitman. jim mcnearney and of course david taylor the current ceo the latest reporting that we have gotten accor