they have some real backers, richard branson among them.uilding a real city in the middle of the ocean. the idea behind the institute. can a city give rise to its own government? let's get headlines from my radio cohost carol massar. >> american international group said peter hancock will be its next ceo. ceoock will replace the september 1 of this year. -- says the satellite maps accurate.e they're hoping to use skybox technology to improve access and disaster relief efforts. shares of radioshack have fallen after the retailer reported a loss last quarter citing sales drops for the ninth straight time. >> united airlines is the latest carrier to change its frequent flyer program. -- march,next month the new reward system will be based on the amount of dollars that you spend rather than the number of miles that you fly. joining me now to discuss this is the founder of pointsky.com. services to maximize your frequent-flier miles. and defense analyst george ferguson. what is united proposing and why? >> they are proposing tracking amountby th

we believe that to be sir richard branson. the british billionaire.ople screaming, it seems like a lot of fun. keep your eye up and to the left. >> whoa. >> what happened? >> did you miss that? watch it again in slow motion. that boat suddenly veered left and hit another boat. but look at the destruction. when they goes past this boat half of it is almost gone. just disappears in rubble. people who were on that boat actually thrown into the water. they learned later that particular boat, as it veered left, the steering went out. >> oh. >> geez. >> hope everybody is all right. this video posted on his youtube channel, sir richard branson has been commenting. look at this one. was on the spot for a high-speed boat crash at the bvi poker run. glad everyone is okay. >> he's got so much money he should buy them another boat. >> it would have like virgin all over. >> free boat and have virgin and a picture of his butt crack on it, i wouldn't care. >> it's funny how a make-over can change your life. that happened to charlie the shelter dog. he was found on t

you'll get the best out of them. >> now in his 60's, will richard branson ever slow down?etire. i have been creating things since i was 15 years old and i will always create things. but i have never seen it as work. so, i will create something, find somebody else to run it and then i will move on and create something else. >> what is it about whales? >> it is one of the great things -- one of the, i suspect, 20 wonders of the world, to swim with these beautiful creatures, which we are going to try to encourage more people to do. >> for more, check out the latest issue of "bloomberg pursuits" magazine, available now. ♪ >> we are finding it, we are testing it, we are there as they build it. we are on a quest to show you the most cutting-edge companies on the brink of the future. tonight, i try on electronics that measure concussion. >> i feel bad for the dummy. >> i will meet a paralyzed man that is walking again thanks to ekso-bionics. >> how does it feel to be walking right now? >> oh, it is amazing. >> and we will check out a houze that will cut your power bill to zero. >

youx and richard branson and virgin galactic, but there are a lot of players -- you know spacex and richard and virgin galactic, but there are a lot of players in the commercial base light arena. -- space flight arena. our guest is even a trained cosmonaut. elon musk and richard branson do not have "cosmonaut" on their resume. you have that one on them. you as athat help space investor? >> it makes it more real. a lot of people think of space as being exotic and intangible. my dad was a physicist, and .till is an astronomer for me, i'd took it for granted as a kid. and now, i take it for granted. what you actually learning cosmonaut training is very basic. and fixinging, meals, and how to keep the oxygen and temperature of your body at appropriate levels. i have been weightless seven or eight times and i probably will go up sometime likely next year. been an investor and board member. i get to do the last flight before we go commercial. >> tell me what that is like. >> it is a company deserted by a guy named jeff grayson, who was an engineer at intel. it is very concrete. it is not the glam

richard branson has been down there.uld be a great opportunity. >> is a going to help the puerto rico economy overall? >> puerto rico need something major. tourism only accounts for 10% of the gdp. if you compare the to the rest of the caribbean, it is significantly lower. this area is a u.s. territory. couldave an airstrip that bring in commercial planes. this could be a huge boon for them if it happens. to attractnew laws hedge funds down here, john paulson has a lot of -- but a lot of real estate dollars to work in terms of hotels. this could be significantly bigger than that. digg about what atlantis is to the bahamas. >> what about richard brandes -- richard branson's interest. >> he is looking for spaces to focus his commercial spacecraft plans. this seems like an opportunity to do this. that has a -- this has the u.s. rule of law. that is positive. he likes what he saw. this is the week where the bids come in. we could see some richard branson. who knows? >> thank you so much. tune into "market makers" for our pue

i wonder, elon musk and richard branson don't have cosmonaut on their resume.e an edge on them. >> you know exactly what it's going to be like. >> how does that help you as a space investor? >> it makes it more real. a lot of people think of space is being exotic and intangible. my dad was actually a physicist and still lives and astronomer. for me, i took it for granted as a kid and i take it for granted as far as what you actually learn and cosmonaut training. it's very basic. it is space plumbing. how do you fix the air exchanger? space medicine -- what happens to your body? how do you keep the oxygen level appropriate? >> have you been to space? >> no. i have been weightless seven or eight times and i will probably go up sometime most likely next year. as an investor and board member, i get to do the last flight before we go commercial. >> tell us what x core is. >> it was started in a guy named jeff grayson from intel. he is very concrete stop space is actually building a spacecraft that works. we are competing in the suborbital spaceflight area with virgi

i think that for every richard branson who kept going as weird as you want it to be, there is a lot more people that got throttled back a bit. >> talk about this business of longing. >> we're in a different time. as everyone is starting to cover social media, they're saying this great opportunity to engage and check. it's a great deal of data on what people. and believe in. it used to be whatever is around you, you got. at reebok for instance goes after cross fitters and says we will make shoes for you cross fit people. spartan and says we will make shoes for spartan racers, which is different from other companies like say nike who says we will make shoes, we hop you like them. it's not a big versus small story. it's a story of how you work with a tribe that you believe is a part of your community. >> i like this idea of tribes. share the passage, not the products. products often times are a dime a zivenlt i can buy this cup, i can buy this cup. i might buy this because of some connection i have. >> sure. same exam as the last one. i can say with reebok people who are spartan racers, i s

you know elon musk and spacex, richard branson and virgin collected, but there are a lot of layers inmercial space trade. whack with us now is esther dyson, the chairman of the esther -- adventurer holding. she's an investor in x core aerospace and is even a trained cosmonaut will stop she spent several months training in russia. and richardon musk branson don't have cosmonaut on their resume. you have an edge on them. >> you know exactly what it's going to be like. >> how does that help you as a space investor? >> it makes it more real. a lot of people think of space is being exotic and intangible. my dad was actually a physicist and still lives and astronomer. granted asook it for a kid and i take it for granted as far as what you actually learn and cosmonaut training. it's very basic. it is space plumbing. how do you fix the air exchanger? what happense -- to your body? how do you keep the oxygen level appropriate? >> have you been to space? >> no. i have been weightless seven or eight times and i will probably go up sometime most likely next year. as an investor and board member,

dollars and true story they are using their big coins to pay for their trip to outer space aboard richard branson virgin galactic space shuttle i guess true branson is accepting because they paid two hundred fifty thousand dollars each. a dollar's worth of big points for an order to go and that's ridiculous and is totally throwing in a face all of the computer nerds who probably watch star wars like eight point one million times and counting you know so that is one of the reasons that i don't feel good about and i'm sorry and i'm going all out of tangency and stuff like that and i got sort of a deal but i want to ask you if my understand i could be wrong it's my understanding of the way cost is one of the initial adopters before it was trading at you know roughly six hundred dollars a coin that they got in there when it was trading really really have them out like nine dollars right so that's the question is it is it a problem with you know while they have the means to purchase it today at six hundred they got in really early when other people were balking out of me like one of these kids doing n

and the possibility for commercial space travel has drawn interest from recent -- from richard bransongovernment is not shy about touting the site to other world-class investors. in the is the only place world that they can have their cruise ships, an airport that carries a b-52 and at the same theme park. >> acres of potential with intriguing goals, but the challenges have been there for a decade. plans, attracting capital, moving the project from opportunity to reality. >> are you ready to make this happen? >> yes. and it will not take four years to make it happen. >> coming up later we will get a report from stephanie focusing on puerto rico's economic challenges. the island is offering significant tax benefits on and individual investment income. is that enough to draw interest from high-profile investors? we will look at that question, later here on "bottom line." we are coming up on 26 minutes past the hour, meaning that bloomberg is on the markets. >> good afternoon. let's get you caught up with where stocks are trading right now. down for most of the day, the 500 down 1/10 of o

. >> richard branson has a private island. steve ballmer is buying a sports team. what do you do?all of the money you have made? >> most of it is still in linkedin stock. i am building the world with linkedin. i serve on a number of different nonprofit boards. i try to finance projects that i think are interesting. >> will be caesar at something else -- another company? >> probably not. pretty closely with them, but there is a long way to go with linkedin. i would say that is unlikely. you will soon partnering with a bunch of great young entrepreneurs, and trying to figure out how to build new things. >> reid hoffman, thank you for joining us. it has been a pleasure. >> thank you. ♪ >> from bloomberg world headquarters in new york, this is "online," the intersection of business and economics with a main street perspective. today the supreme court narrows a contraceptive coverage requirement and health care law. argentina faces its -- faces its second debt default in 13 years. gm says they will pay all claims related to ignition switch flaws. to our viewers here in the united state

for every richard branson who just kept going as weird as he wanted to be, there's a lot more people who got throttled back a bit. >> talk about this idea of business is about belonging. >> so we're in a really interesting time. so as everyone's trying to cover social media in different ways and they're saying it's this great opportunity to engage and connect, what it also is is a great deal of data on what people really want and what they really believe in. it used to be that whatever was around you is what you got. and so, for instance, there are companies, reebok, for instance, goes after cross-fitters and says we will make shoes for you, cross-fit people. it goes spartan race with joe disena's company. we will make shoes for spartan racers. different than other companies like nike who says, we'll make shoes and i hope yo u like them. it's not a big versus small company kind of story. it's a story about how you choose to actually work with the tribe that you believe is part of your community. >> yeah. i love this idea of tribes also. share the passion, not the product. because pro

. >> next year richard branson's virgin galactic spaceship is expected to bring customers to space for rars a ticket. if you can't afford that one we have a cheaper alternative. they are offering balloon flights. they will take people into a pressurized tap soule to a height of 1900 miles. they set a record to prove the system works. >> it is time now for your 5@5:00. the saying there's no such thing as a free lunch is getting de bunked today. we have a list of five freebies we can all cash in on. this is exciting. >> there's not one of them clearly but there's nothing quite as exciting as finding a great deal. the ultimate deal is free. nothing. if you dig deep enough you can find free items in a host the categories. without further adieu let's look at the top 5. coming in at number 5, magazine subscriptions. if you are willing to give up information about yourself you can get a free year's subscription to a variety of magazines even popular mags like maxim. smart phone apps. free smart phone apps are every where. yes, even those that are perhaps expensive apps sometimes can go for fr

chief justice said: >>> and we finish in the skies above new mexico where richard branson is given a run for his money. world view enterprises tested a balloon designed to bring viewers to the edge of pause. in 2016 they hope to offer hours of cruising above the planet. compared to 6 minutes by branson's virgin galactic. you won't get the feeling of weightlessness, the price of a dict with world view is $75,000, less than a quarter million price tag for a seat on board a virgin galactic flight. that's some of what is happening around the world. >>> coming up, hillary clinton accused of being an out of touch multimillionaire. how her husband bails her out. >>> and harmeli aregawi is web. >> it's been called a kentucky fried hoax. a family is caught lying about being mistreated at a fast food restaurant. not before they rake in over $100,000 in donations. i'll tell you more ahead. >>> while you're watching, let us knew what you think. >> these protestors have decided that today they will be arrested >> these people have chased a president from power, they've torn down a state... >> wha

looks suspiciously like richard branson. it was gold flowing locks and t have.son's media team spent five hours sculpting this monster to celebrate a new internet and package deal. >>> markets snapping a four-day winning streak. mark newton is at the new york stock exchange and andrew keane is at the cme. mark, let me start with you. what has changed today? >> industrials are pulling back. this is one of the strongest groups over the last week this is one of better groups to have been in. starting to see a little bit of improvement in emerging markets also. that is a positive. we're seeing a little bit of a stalling out. equities have been up last 14 out of 16 days. logical to have a little bit of a pull back. melissa: andrew, temporary thing or the start of something bigger? >> s&p down 1 1/2 points today. they say never short a dull market. this is a very dull market. if you see how much s&p 500 futures moved intraday, up five-point range. average range is 10 to 12 points. volume on any individual equity name, 10% of the average daily volume. very, very light

competition from military launches, space launches or personal launches like innovators like richard bransonone after. more than who is launching missions for the government we need deregulation. nasa had the monopoly for too long. hats off to musk for making moves. melissa: at end of the day it is always about money. nasa is preparing to award 800 million in contracts this summer. that is why everybody is up in arms. what do you guys think about this, spencer. >> talked about disruption. elon musk is the biggest disruptor of the global economist disrupted payments with paypal and doing it with cars with tesla and now doing it with space industry with spacex. taking on powerful forces. defense contracting industry is huge and powerful and engrained in washington. he makes a good point. why was the contract not open to competition? i don't think there was any urgent need he ruffled a lot of feathers. defense lobbyists telling "politico" that musk didn't navigate the process and made a lot of enemies. >> great. >> until he starts paying off lobbyists -- melissa: and they're all his buddies. >>

richard branson. all of these copies -- hilton copy. 15 copies altogether.mark said to me, i would love to do it. and there was a hollywood agent. don't do it. i said, it is too late. i shook hands. what difference does that make? i handshake does not mean anything in hollywood good but i said, i shook can spirit he said, donnell, 97% of the shows that go on -- donald, 97% of the shows that go on tv fail. of the ones that make it, they don't make it big, and you have a great embarrassment. in the history of television, it has never been a business type show that worked. . still have a problem i wish i knew this before. i never would have done it. it means a lot in life. it means a lot even toward branding. i don't want to do it. do you think i can get out of it? he said, you should my hand. so we did it. the show opens. it opened at number 10, which is massive. it opens at number 10 here it goes down to number 8 and then 5. it goes to 2 and then 1. i realized how big it was. the head of nbc television and the head of nbc called me up. never met him. it was 7

speak with ceo behind this very bold move, his backers include such entrepreneurs as billionaire richard branson>> well, despite the world cup, not everybody is cheering for the brazilian economy including brazilians. we're telling you where they are looking to. the brazilian smart money is headed to -- well, stay tuned. we'll tell you where they seek a safe haven. ♪ ♪ my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an ideaea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program that helps moms stay on track with their doctors and get the right care and guidance

by the way, he's friends with sir richard branson.d sell the packets on the virgin flights. you all look happy and healthy. was a that on the island? he kite surfs too. >> yes. liz: as if he didn't have to get more than that. congratulations. we wish you the best. you're a serial entrepreneur. we love to do these start-up nation stories because our viewers love them. good luck to you. >> thank you very much. liz: aloha.com founder, constantine. closing bell 15 minutes away. the u.s. growth engine may not be as powerful as first thought, both the fed and imf cutting gdp forecasts this week, so how should you future-proof your portfolio amid the current euphoria over record-breaking markets? two of the smartest minds on the street with different perspectives. the wise, experienced steve -- [inaudible] from strategic. good to see you both. stay tuned, they're coming in. ♪ (mother vo) when i was pregnant... i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luc

richard branson. tommy hilfiger. all these copies, they had 15 all together. they were all off. mark said to me, you know, i'd love to do it -- and i had an agent. you believe i had a hollywood agent. the biggest. he said, don't do it. i said it's too late. i shook hands with mark brunette. he said what difference does that make? it's hollywood. handshake doesn't mean anything in hollywood. i said but i shook hands. he said, donald, 97% of the shows that go on television fail. i didn't know that. what do i know? i never did television before. he said, of the one that is make it they don't make it big and you'll have a great embarrassment. in the history of television there's never been a business-type show that worked. so i said i still have a problem. i wish i knew this before. i would have never done t i shook his hand. it means a lot in life. it means a lot even toward branding. i don't want to do it. i called mark, i said do you think i could get out of it? he said you shook my hand. so we did it. so the show opens. and it opened at number 10, which is massive. when you're n

richard branson on the couch there.r than expected jobs report for may pushing the markets into record territory. the dow closer to 17,000 here on set. jim stewart, newest cnbc contributor and a pal in the other world. a columnist with "the new york times" and a pulitzer prize winner. i want to talk briefly about the jobs number this is morning. >> good number. >> you're happy? satisfied? >> big question over the economy has been about the first quarter, was it the weather? and i think now we can say, yeah, it was the weather. so, you know, people are back to work. good. >> should we care about the overall headline number? meaning, not the actual number we what are you actually paying attention to looking at the number in the morning? >> i look at the trend. the overall number. >> does it make sense for the markets to take it as -- >> relief. i think there was some concern that, you know, that this is first quarter thing wasn't maybe just an aberration, another one of these, like, you know, glitches, slow downs to carry

, billionaire investors, private investors going into private space exploration -- elon musk, richard branson -- all wanting to fund, privately, exploring the universe. do you think that with private money they will be able to advance discoveries like this any further than if it was with government money? >> absolutely, and they are doing one huge thing for us in civilian space cost, cutting the cost of launches to space. we can start to imagine the sophisticated space telescopes we really need to find life -- they are helping with those. we hope there will be a private, public partnership in the future. >> what happens next, after we discovered mega-earth, what happens next? >> the planet was this -- announced here at a conference in boston. all of this is being discussed here at the meeting. we have new announcements and then we spent time talking about future plans and they involve space telescopes. the mega-earth, it is massive in size. it is 17 times the size -- the , but we do not know anything else about it. we need to look at the composition, with greenhouse gases are like, whether th

i richard branson, former house energy and commerce committee consul who handled environmental matters and guest of our speaker. and skipping over our speaker for a moment, the war bureau chief of the buffalo news, chairman of the npc speaker committee and past npc president, and a bloomberg news correspondent, the 2013 national press club president and the member of the speakers committee who organized today's luncheon. angela, thank you very minute. conway low, washington, council who hamm handled sec and financial matters and a guest of the speaker. david shepardson, detroit news, washington correspondent. laura, congressional reporter for bloomberg news, and rohan, columnist. [applause] >> when our guest today took his seat representing michigan in the u.s. house, it was the same year the first mcdonald's opened and coca-cola was first coca-cola was sold in cans, gas was 23 cents a gallon and you could buy a car for $1900. john dingell took office in 1955 and served alongside 11 presidents and is not only the longest serving member of the house, he is the longest serving member eve

. >> i had the opportunity to go out and interview richard branson. the founder of virgin atlantic. i got a look at what they're doing space flight into the commercial world. take a look. >> and liftoff. >> three years ago nasa ended the space shuttle program and along with it an era of exploration. now private companies are picking up where the government left off in the race for space. >> he we want to try to enable people who would never even dream, never have a chance of getting to space go into space. >> billionaire and entrepreneur sir richard branson has invented galactic. one day kids like these will be able to go to space. right now that ride of a lifetime has a $250,000 price tag. >> the people are actually putting their hands in their pockets and paying $250,000. you you know, they are enabling us to get the program up and running and they are the pioneers in the same way that in the 1920s aviation troubles began across the atlantic, people were paying similar amounts to go from new york to london. >> virgin galactic spaceship is modeled af

richard branson joined us. thank you. learn all about his 31 days under the sea. before i go, new york's mayor made good on his hockey bet with the mayor of los angeles last night. his hometown rangers lost the stanley cup playoffs to the l.a. kings last week. ♪ from the south bay to the valley ♪ ♪ from the westside to the eastside ♪ ♪ everybody's very happy ♪ cause the sun is shining all the time ♪ ♪ another perfect day i love l.a. ♪ we love it. >> oh, that can't have been easy for bill deblasio. l.a. fans out in full force yesterday. mayor garcetti may have enjoyed the championship by the kings a little too much. >> but there are two rules in politics. they say never ever be pictured in a drink in your hand and never swear but this is a big [ bleep ] day. way to go, guys. >> the channel carrying the rally had to apologize for the "f" bomb being dropped. the team's president warned the players not to curse. apparently the mayor didn't get the memo. i'm brooke baldwin. see you back here same time same place tomorrow. let's go to a especially lead. live from the ne

we backed richard branson buying northern rock from the uk government.s doing very well. we have the largest railcar leasing in europe. one in germany inburg called gtg. >> when you say you think the negative interest rates will work, the pushback on that, the banks are being told by regular lators they have to keep permanent. >> that's exactly right. that's the same kind of contradictory situation we have had in the states for quite a while. we put tarp money and take it back by fining them, which is apec way to deal with the banks. the reason it may very well work is it worked well in japan. by working well to me means changing the expectations of the public about inflation. japan had gone through three decades of deflation. suddenly mr. abbott came along through very tangible actions, changed the whole psychology. i think that's what's needed in europe and frankly here, is to change the psychology. >> so what does that do to the investing environment in europe? are you more likely to make additional? >> i would think so. because the more things that m