procter & gamble has a huge presence overseas. can you tell me what those tax breaks are then sent jobs overseas in your mind? >> wind gusts everywhere. our decisions are not here or there. our international business is 60% of our total sales. . yet we pay our taxes in the united states and we're one of the largest taxpayers in the united states. what's important, as we grow overseas, that creates jobs in the united states. 20% of our jobs in the united states depend upon our international business. 40% of our jobs in ohio depend upon our international business. so even though we may be the largest consumer goods company in china with 7,000 chinese employees, we've got a lot of people in columbus, ohio, and in cincinnati, ohio, who depend upon the strength of that business for their jobs. and we take that very, very seriously. >> is it fair to say, then, and others have said this to me, c.f.o.'s and tax accountants, that if we aren't proactive here in the united states with respect to tax policy and competitiveness, even though pr

disappointing results on blue chips like procter & gamble kept the dow's gains in check.ç p&g rising commodity prices are pinching profits and fell almost 3%. at&t dropped 2% after reporting new wireless contracts fell to the lowest level in more than five years. microsoft surprised with better than expected profit, but concern over the weakness of overall computer sales kept shares flat. amazon.com missed targets in the fourth quarter, sending stocks tumbling nearly 9%. elsewhere, the u.s. and japan received sharp warnings from the imf and ratings agencies thursday to tackle their huge budget deficits. standard & poors cut japan's credit rating for the first time since 2002. and finally, even the girl scouts have a bottom line. due to poor sales, the girl scouts are giving the axe to thank you berry munch and dolche cookies. do not mess with thin mints. then you'll be in trouble. >>> tiger's first round of the year and the latest tennis news from down under. plus, dwyane wade and lebron james hook up on the now familiar miami alley-oop. the knicks beating them wasn't so

they asked the company to withdraw rely when was made by procter & gamble. most implicated, it wasn't the only one. and they didn't want to withdraw it, and the ceo of procter & gamble got down on his knees and begged the eis officer, i beg you, take what this means to -- think what this means to our company. we've spent billions of dollars on this, what be you're wrong? and -- what if you're wrong? and the eis officer said what if it were or your daughter? what if you were wrong? so they withdrew it. i'm going to stop here, i think. there's so much more i could talk about, but let me just read you the little end of this, and then we've got time for some questions. i'm sorry, i went on a little bit too long. i want today read you the last -- wanted to read you the last bit in the book here. in 1951 alexander langmuir seized a cold war opportunity to fund a small training program for young epidemiologists who would keep an eye out for biological warfare while responding promptly to unintended epidemics. i forgot to mention, that's how he got the fund oring fo

procter & gamble is the largest purchaser of hair in the world. they use it to test how products work. >> this is high quality virgin hair. and so we'll buy -- this is a pound of it. we'll buy this hair -- >> reporter: this is a pound of hair? >> this is hair from probably 600 women. >> reporter: where does all that hair come from? chris rocks documentary "good hair" showed the lengths hair hunters will go to. >> this is where we process human hair. >> weave paradise. >> reporter: at p & g, they bleach, color and damage that perfect hair to find out how it will react to certain products. then they hang it up in these temperature controlled labs to see how it will do in different climates. it is hot. these poor hair samples are confined to a humidity room to test how pantene's latest product will stand up to frizz. is this like -- the final step of approval? if you can get past 80 degrees and 80% humidity? >> yes especially for an anti-frizz or smoothing product, this is a torture test. and your hair can stay looking good after 48 hours in this roo

verizon was in line as was boeing while united technologies, procter & gamble and at&t came in above analysts' expects. yahoo surpassed expectations but offered weak guidance. netflix powered past earnings expectations while microsoft and amazon.com beat analysts' expectations. some of the smartest people in the world gather here at the world economic forum annual meeting, and two of them are with me right now, harvard professors ken rogoth. gentlemen, great to have you on the program. ken, when we spoke a year ago, we were talking about recession. we were talking about getting out of it, and we weren't certainly through it yet. how are things today? >> a year ago, there is no question the mood was relief. we didn't have the great depression. i think now the mood is shifted much more to exuberance. my gosh, i'm making money. i'm making a lot of money there is a bit of lip service about inequality, but that definitely feels to me the theme. >> one has the sense that if you're a ceo in a big international corporation, things are looking a whole lot better. and that's generating euphori

procter and gamble's latest quarter was three cents better than estimates, but down from a year ago with higher commodity costs. p&g was he leading loser of the dow industrials, down 3%. up through this week, shares had been rallying. the other sizable loser in the dow was at&t, down 2%. this is the last 30 sessions. this most recent low was the same day verizon announced it would start selling the iphone, breaking at&t's exclusivity. earnings were a penny over forecast, but new customer growth slowed. steel stocks have seen some volatility this week as they report higher earnings. higher raw material costs is one market worry. nucor was the latest to report. it lost money in the fourth quarter, thanks to high commodity costs. it and u.s. steel dropped about 2% today. the world's largest steel maker, acelor mittal, fell as well. and that's tonight's "market focus." >> susie: gold has been a less- than-glittering investment lately. investors leaving the largest exchange traded gold fund have pushed prices to a three month low. so far this month, gold has posted its biggest monthly loss in

it's a lot like the old soviet union where the russian people knew what the truth was by reading procter and assuming that it was the oppa. it because the fact is is that we have a global financial system that is nothing more than a great looting machine to rob the people. in a way that sends money from in the case of america to its money from the farms and factories in the heartland and ship it off to new york and washington were it can be manipulated in programs and in derivative trading and i think the thing that people are beginning to realize is that the manipulation isn't the answer the manipulation is the cancer right up to a certain amount of financial propaganda versus political propaganda and here we are in the twenty first century people are talking about currency wars and with every war there is propaganda so with a currency war you need financial propaganda so just to roll through this again some people get a handle on it in the us the financial propaganda for example would indicate that the the the huge bailouts of the banks had nothing to do with the fact that they looted

withdraw and rely was a b tampon most implicated and they did not want to withdraw it to the ceo of procteres and day good eis officers think what this means to our company we spend billions of dollars. what if you are wrong? the officer said what if it were your daughter? they with true -- withdrew the product. i will stop here.angm there is so much more i could talk about. i will read the end of this then i have questions. i want to read the last book. >> 1951 alexander had theyr yo cold opportunity to find a small training program for young and epidemiologists to keep the eye out for biological warfare while responding promptly per car for up toe mention that is how he got the funding. he scared people because the communists were supposed to be spreading anthrax and polluting water did not have been a tow 2001 and then those officers to that now they are the premier frontline disease detectives. for the obscure government program producing remarkable results, perhaps in part bytr remaining relatively small and the ball and flexible. one of the lessons of history is the impact that one pe

those are obviously procter & gamble has a huge presence over his knees.invest here or there. in fact, our international business is about 60% of our total sales. our u.s. business is about 40% of our total sales, yet we pay 60% of our taxes in the united states. one of the largest taxpayers here in the united states. what's important is as we grow overseas, that creates jobs in the united states. 20% of our jobs in the united states depend upon our international business. 40% of our jobs in ohio depend upon our international business. so even though we may be the largest consumer goods company in

are proactive here in the united states with respect to tax policy and competitiveness, even though procter & gamble, for instance, has been in ohio for 100 years, you don't have to be headquartered in ohio or the united states? other countries about to have you. is that a fair statement? .. >> cutting corporate tax rates increase tax revenues. sounds a lot to me like tax cuts pay for themselves. i think tax reform is a worthy pursuit and sensitive to the international arguments that are being made here today, but in some measure, didn't america get into trouble based on that notion that tax cuts pay for themselves? >> certainly the idea that tax cuts pay for themselves is very attractive politically, and it's very easy, for example, in the 1980s that that notion was popular. there are some dynamic aspects to the revenue estimates, but to think that tax cuts pay for themselves except in very extraordinary circumstances is very wishful thinking. if you look at the 1980s reform act, we broadened the base, and immediately after that, there was a set of hearings in the senate finance about wher