the federal reserve bank of dallas has named robert kaplan as their new president and chief executive officer. he will replace richard fisher 2005 2 president from 2015. universalsst universities straight out of compton smashed records. it took him one and 62 million dollars in america. behinded in third place with mission impossible. those are your top headlines. joe: one of the biggest agricultural companies in the world just went long finish. paid 1.5 billion for a company that makes fish food. feed toally food to salmon, because farming salmon is incredibly hot. alix: this knob accounts for half of fish consumption, just up from 1990. see what salmon production was all about and how --portage that feed in important that feed is. salmon. it is pink, high in protein, and americans need more than one billion pounds a year. and most of the, is farmed. company the only operating on the east coast, and providesnd growing, it a huge opportunity for firms to grow to scale. in nature, salmon lay eggs of freshwater lakes. in a farm, the start in a hatchery. they are so small. >> they will d

robert kaplan will be the head of the dallas fed.o decades as goldman and led its investment bank and -- banking unit. tom: an inspired choice, and of course a long time "surveillance " guest host. he has brought us immense value on corporate leadership. vonnie: he just made that window before he was announced. tom: he has got a great research combine down there. i hope he keeps the dallas tone alive as each bank is different. there is a tone and the emerging markets as well. let's call it a commodity meltdown. cap support fenske -- katia porzecanski covers emerging markets. i do not even know where to sort this out in terms of news flow. i understand that canada is winning because they are weakening less than the others. which is the currency you are most focused on? katia: is canada and emerging-market? [laughter] tom: what are you focused on? katia: morgan stanley have this new troubled 10 list. you are seeing a ton of asian currencies, a kind of latin american currencies, and then the ruble. what you have here especially with lat

reserve bank of dallas has named robert kaplan as their new president and chief executive officer.e will assume his new post on he will replace richard fisher september 8. . kaplan will not be voting on policy until 2016. alix: comcast universals ' "straight out of compton" smashed opening records for in r-rated movie. it took home in america. $162 million it debuted in third place behind mission impossible. i have a 10-month-old. i don't go see movies. joe: i don't either. alix: those are your top headlines. joe: one of the biggest agricultural companies in the world just want lungfish. they just paid 1.5 billion for a company that makes fish food. specifically food to feed to salmon. why? because farming salmon is incredibly hot. alix: fish raised in fish farms accounts for half of fish insumption, up from 15% 1990. i got to see what salmon production was all about and how important that feed is. salmon. it is pink, high in protein, and americans need more than one billion pounds a year. and most of that is formed. they are the only company operating on the u.s. east coast and wi

let's take a look at the top stories -- the federal reserve bank of dallas has named robert kaplan is a new president and ceo. he is a harvard business school professor will soon post on december 8 and will replace richard fisher who was president from 2005-2016. he will not be voting on policy until 2017. on wednesday, the federal reserve will release minutes from its july meeting. it may shed light on the timing of the first increase in the u.s. benchmark interest rates since 2006. we talked earlier with the chairman of cumberland advisors. >> i don't know about the fed. i don't think the fed knows about the fed. they don't know what to do with a stronger dollar and weaker oil and spending -- and capital spending contracting. betty: he said he sees a huge boosting consumer spending coming when people begin to accept that the lower oil price is permanent and not temporary. mark: the federal trade commission are stepping down. since been a commissioner 2013 and he will return to george mason university school of law as a professor. his last day will be august 24. u.s. homebuilders hav

scarlet: the federal reserve bank of dallas has named robert kaplan as its president and ceo.s a harvard is the school professor and will assume his new post on september 8. he will replace richard fisher. he will not be voting on policy until 2017. alix: the federal reserve will release its minutes from it eating and it could shed some light on the first increase in benchmark interest rate since 2006. we talked to the chairman of cumberland advisors. >> i don't know about the fed and i don't think the fed knows what to do about the fed. with oil and capital spending contracting -- alix: he says he sees a huge boost in consumer spending. i think that means structural, not cyclical. trade commissioner, joshua wright, is stepping down. he's been a commissioner since 2013 and will return to the george mason university school of law. his last day will be august 24. homebuilder's haven't been this confident in almost a decade. sentiment rose this month to the ofhest level since november 2005. americans are waiting longer than ever to buy their first homes. a typical first timer ren

robert kaplan, harvard business school professor, will be the new head of the dallas fed.u so much. buyching gears, how do you your cell phone these days? how you by your cell phone may change. verizon is getting rid of phone subsidies for new customers. decades longwn a pricing structure that tied customers to providers and determined the cost of the phone. here to talk about the end of the celfin subsidy era -- the cell phone subsidy era is walter. verizon was the last holdout. t-mobile was the pioneer and verizon said we don't know if our customers want this. they are basically requiring everyone to now. it actually helps of them generate a higher printed ebitda . betty: how? walter: they are recognizing all this revenue the day they sell the phone. betty: is this going to be good or bad for consumers? walter: it is great for consumers, they can get an iphone for free. when apple earnings were in decline, operators were saying you cannot upgrade your phone until you have it for 24 months. chargere saying we would you $234 for the baseline iphone . they are saying have o

sachs, robert kaplan is now with the harvard business school after two decades of goldman.as fed president. sprint will offer cheaper monthly plans so customers will no longer get a mobile phone for a heavily discounted price. earlier, we spoke with sprint's ceo. >> the american consumer will know what they are paying for their phone and for their service. that has been so confusing, transparency is a must. contractsbile ended more than two years ago. verizon dropped them this month. subsidizes new phone purchases. cory: the days of phone subsidies are nearing an end, shift is actually boosting the top line for these companies. this is an interesting accounting thing. >> it is. cory: it is a bit of an oxymoron. >> it is all about accounting. cory: good thing i have this job. >> i have an easy explanation for you. matt: break it down for us. how do you buy a phone now? of years ago,ple you would walk into a verizon or at&t's door and plunked down and the a $650 iphone carrier would report that $300 as revenue that you paid them and they would take a -- matt: $300 over time?

robert stephen kaplan succeeds richard fisher, who retired from the dallas fed in march. at harvard professor business school before joining harvard in 2006. he is vice chairman of the goldman sachs group. kaplan will not be voting on policy until 2017. scarlet: joshua right is stepping down. he commissioner since january that she has been a commission -- he has been a commissioner since january 2015. his last it will be august 24. the national survey of homebuilder sentiment index rose to the highest level since november 2005. the data indicates a single-family home sales in perspective buyer traffic increase. scarlet: americans are waiting longer than ever to buy their first homes could the typical for summer rents for six years before buying their first house. recent reports indicate that renters are having a tougher time saving for a down payment. the pentagon is eyeing prisons in kansas to house guantanamo bait to denny's. it is -- guantanamo bay detainees. officials and survey the barracks at fort leavenworth last week and will also review the naval consolidated bri

>>> the do you federal reserve is seeking a new president, a very interesting choice here, robert steven kaplanwho is currently the martin marshall professor of management practice at harvard, senior associate dean at the harvard business school, being named to replace richard fisher. among the items in his resume, he's written a bunch of books about leadership, but also former vice chairman of the goldman sachs group. that was in 2006. i pent a number of years at goldman sachs price to leaving to go to harvard, and served on the board of state street, harvard management, and bed bath and beyond. he will be stepping down from all those boards. by the way, richard fisher was also one of the few fed members with investment banking experience. so the dallas fed continuing that trend there. >> a gentleman well know to cnbc viewers as well, right? i mean, mr. kaplan has been on the network many, many times, yes. >> a person we now from that, scott. >> steve, thanks so much. interesting news there. >>> let's do a trade update. pete is seeing some unusual activity in strategic hotels last week, the st

this guy was robert steven kaplan replacing richard finder will take place in september, was a former goldman sachs banker, also a management professor at harvard, written a bunch of books will leadership and management, been on cnbc discussion it. >> there he is, yeah. >> been on a bunch of boards. the dallas fed at least the last two times, says somebody has come more from a private sector. >> he runs a nonprofit -- >> do you have to live in the region to be the president of the bank? >> my guess is he does not. he's an associate dean at harvard. i don't believe that's a criteria. the way it works is that the local board or the distribute board nominates, it's then approved by washington, so i don't think it requires a residency. >> interesting. steve, thank you very much. terrific. >>> do dominic chu. >> the big air liar stocks are flying high. another with the rest of the market they have been ticking higher, but watch names like southwest, american, jetblue, all up between 1 to 3%, trades -- you can see they're all in the green, messilia. back to you. >>> homebuilder confidence h

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