richard clarida has taught at columbia university for decades. courses. translate this for us. he said let the markets decide. that is not happening here. richard: that it is not happening here. my perspective here is states do this. they offer incentives for stay or leave in the case of connecticut. this is being put in the context of the overall national policy. i view this as something that the state of indiana was working on anyway. in the context of our current system, it is not that great. tom: the overlay of political industrial policy with the japan malaise we saw for 20 years. richard: obviously it can be taken to extremes and you can screw it up as well as doing well. again, i see this in the context of existing programs. francine: what you are talking about, what do you think will be the transform authority policy or decision that the president will take when he gets into office. let's give him three months from january 20. administrations come in, they talk about the first 100 days. given the control of the house in the senate, there

chair yellen speaking today in baltimore -- richard clarida of pimco -- the last time he was on, he waschard clarida monday, 9:00 a.m. hours. this is bloomberg. ♪ guy: i am guy johnson in a foggy london, with tom keene new york. let's get a "bloomberg is the/." e.u. investigators exceeded the powers, it is said, in the $36 billion tax bill for apple. to collect arrears over the tax arrangement, but the government insists apple got no sweetheart deal and that the e.u. does not understand proper application of irish law. arabia, despite a law passed after the -- saudi -- it to be one of the biggest share sales in history. the latest star wars movie have second-biggest opening december weekend in history. estimated $155 million in the u.s. and canada. last year "the force awakens" posted largest opening weekend at $248 million. that is the "bloomberg business flash." tom: what an interesting, interesting movie. i got a rave review from two family members. but the critics have been less than kind. it is a great split between the public and the critics. expectations, star wars movies, they a