i am sitting here with saks on fifth avenue with richard baker.ng the most valuable retail building in the world. we say this is the best than half the real atate portfolio. how do you unlock that value so that it's i realized by investors. >> good morning. >> good morning. >> it's a great commentary on manhattan and new york city. the values we've seen on fifth avenue for a whole variety of different asset classes has been impressive. it's no big surprise to us this appraisal is part of our financing and highlighted the value of this particular building. as the ceo of the hudson bay company we think and our team believes that it's important to let shareholders understand the value of the assets within our company. we go to, we do a lot of work to highlight the value of our real estate so our shareholders can understand where opportunities are and where the value of our company is. additionally, as we highlight the value of our real estate, it creates tremendous value to our balance sheet. the stronger our balance sheet and more flexible our balan

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. >> can i return this to a regular saks? >> no. >> reporter: our first stop, saks fifth avenue. >> this line is actually produced for the off 5th stores only. >> reporter: it's a mission tur made for outlet and overflow from the regular store but from the neiman-marcus -- >> is this made for just this store or the -- they said their clearance stores receive overflow but last call studio stores are all made for outlet clothing. we brought the items we bout to textile professor dr. janesss devine. first wool sweaters. >> there's differencing in the seaming and finishing details right away apparent. you'll notice there's a slight puckering here in the seam of the one from the outlet and the one from the regular store there's just some of those finer details. >> reporter: check out where each is made. >> the one from the outlet is made in behind and the one from the regular store is made in italy. >> reporter: with the gap jeans she points out an easy way they're made for the outlet. >> the labeling with three squares denote the

. >> could i return this to a regular sak's?f smith. >> reporter: they say their store is a mix of regular items and outlet stores. is this made just for the outlet or is this made for the regular store? >> no, we don't -- we're studios. >> reporter: they tell us their last call clearance stores receive overflow from neiman marcus, but last call studio stores all made for outlet clothing. and at gap. >> can i return those at a regular store? >> no, it has to be gap factory. rtd gap says its outlet stores only carry made for outlet clothing. we brought the items we bought to a textile professor at north carolina state university. first, sak's men's wool sweaters. >> there are differences in seaming and finishing details that are noticeable right away to me. you'll notice there a slight puckering here in the seam of the one from the outlet. the one from the regular store, just some of their finer details. >> reporter: check out where they're made. the one from the outlet is made in china. the one from the regular store, is made in

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. >> could i are undreturn this t regular sak's?ix of regular items and outlet stores. is this made just for the outlet or is this made for the regular store. >> no, wee don't -- we're studios. >> reporter: they say they receive overflow from neiman marcus. and at gap. >> can i return those at a regular store? >> no, it has to be gap factory. >> reporter: we brought the items we brought to a textile professor at north carolina state university. first, sak's men's wool swerts. >> there are dimps in seaming and finishing details. you'll notice there a slight puckering here in the seam of the one from the outlet. the one from the regular store, just some of their finer details. >> reporter: check out where they're made. >> reporter: the one from the outlet is made in china. the one there the regular store, italy. >> reporter: with the gap jeans? >> the labeling with the three squares denotes the outlet. >> reporter: what about the compared to and market prices stores have on their tags? >> that's not clear from the price of what they'r

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saks moves from herald square to fifth avenue and expands tremendously, becoming saks fifth avenue. the entire stretch of the avenue looks something like this. this is the vanderbilt mansion, the largest vanderbilt mansion. alice vanderbilt lived there. that's right across from the park. this is saks 1923, when it went up. here's another shot of the alice vanderbilt mansion. and this is what replaced it. bergdorf goodman. edmond goodman, a garment worker from rochester, new york who founded a little tailor shop with a guy named bergdorf who got out of the business because he was drinking too much, goodman took it over and he moved uptown. they told him don't go there. tailoring has never gone this far uptown. you're close to astor and vanderbilt country up on central park east. but he leases the property and eventually buys it and controls that whole property there. and he and his wife lived in a penthouse on the top floor of the store. now, by new york law, custodians weren't permitted to live in a city's industrial building. it's an industrial building, because women made dresses

. >> i would say start with the bone marrow and then cleanse your palate with a little sak. >>> to i it on this little crustini thing. >> yes. >>> okay. here we government dig down in there. >> gosh, it's kind of gelatino gelatinous. oh, jeez. what do you call it, meat -- >> meet butter. >>> meat butter. all right. i have a bone to pick with you. ♪ >> he's a bone picker. that is good. it's really rich. i really love saki. is it okay to drink saki warm. >> some are made to training warm and some are made to drink nice and chilled. >>> i like the one with the biggest hit. this is really good. good invention. morey moto, chestnut street. congratulations. i like it. ♪ >> it looks good. >>> all right a popular south philadelphia restaurant recently added brunch to their menu. >> mike jerrick takes look what's new at nord. >>> i am at a hot corner, 11th and tasker in south philadelphia. look at this. you got cheiral lows on one corner. the park on that other corner and now you have nord-n-o-o-r-d on this corner of 11th and tasker and the owner and chef john carlos here. >> hi. >>> how are

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he says the time for saks way overdue. >> i indicated to speaker boehner several months ago if congress failed to act, i'll use all the lawful authority that i possess to try to make the system work better. and that's going to happen. >> the president using strong language on another controversial issue, the so-called keystone pipeline. it's about to be in congress, it's not just a big job producer, it would benefit other countries more than the u.s. meantime on capitol hill, congressional republicans made the leaders official. mitch mcconnell of kentucky will be the senate's next majority leader, and house speaker john boehner will remain in that post. >>> and using specially-outfitted planes to collect information from thousands of cell phone users. federal marshals have cessna planes that can trick phones into reporting their locations. the idea is to hunt for criminals, but the data is being collected from innocent americans as well. >>> there's a new warning for the u.s. from one of the world's most wanted terrorists. the recording hasn't been verified, but it seems to be from the

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>> reporter: they marched around union square from bcgd's to saks fifth avenue to macy's. usc grad ephraim walker told me he's made a youtube video calling for a black friday boycott. the oakland native was a consultant in the film "fruitvale," based on the shooting of oscar grant. he said getting people to turn away from shopping on the busiest shopping affidavit year could send a message. >> people at the top may say, we recognize the people of america are unhappy with what's going on and they may flex some of their economic muscle. >> reporter: but if it's unclear how the dots connect from black friday shopping boy cots to race relations and shootings, well, you've got company. >> people want to spend, spending's good. >> i don't know that protesting shopping would help their cause. >> we don't see how it's affecting it. and, well, it's benefiting us in a way. >> because of the bargains. >> yeah. >> reporter: the protests to the police shooting of michael brown just now beginning to form up. we have seen a couple of signs across the street at the ferry building. they're

it's not like it's going to sak's fifth avenue and using this for her own money.good causes. frankly this is capitalism, a private citizen, i think she is going to run for president and announce in a couple of months. private citizen and beginning to cash. in a lot of these people are managed by talent agencies and, you know. hillary real little putting the requests for all the humus and rectangular pillows. she got a big protective core around her, defending her. this is just part of what people that aren't regular people are accustomed to. >> jillian i didn't see the big deal with the humus and pillow. she is trying to paint herself as the woman of the people. while she is a diva. i don't think this makes her a woman of the people $300,000. dead broke, in debt. trying to relate to you as a middle class person. i think that's ridiculous. i agree with you i don't have that much of an issue. she is an accomplished woman. maybe $300,000 is the going rate. what do i have a problem with is first off she is part of a political party ratcheting up class warfare. that's

official officials sak developed in the cable holding up the left side of the platform causing it toall. 'tis man says a number of things could have gone wrong including a brake failure in the system's motor. another possible culprit -- >> there's suspension device from the roof. so we really don't know yet what could have failed. >> reporter: but he's interested to find out. >> we want to see if that tells us anything about system changes, procedures that need to be retooled. >> reporter: constant maintenance is also a must he says, as is making sure workers are following strict guideline. >> another key part of safety marty says is simply remembering where you are. if you're a worker who repels off of buildings like this one regularly and there's relatively few accidents it's easy to forget how dangerous this kind of work can be. >> i never want to take for granted what we do and how careful we have to be. >> reporter: matt rivers cbs-3 "eyewitness news". >> now to a history making day in space. european scientists land unmanned space craft and comet traveling nearly 84,000 miles a

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it is about going -- not going to the mall to visit saks fifth avenue. thanks for the call out.g up, electronic arts may figure how to make money on it mobile gaming and not destroy its console business. we will hear from the ceo next. ♪ >> welcome back to the best of "bloomberg west." i'm emily chang. electronic arts is best known for its console games like a madden foot all is making inroads in mobile. tripled.ers have the johnson sat down with ceo and exclusive interview. they talked about the future. to fast forward and think about the evolution of technology. interactive entertainment is more compelling because you are involved. world of more devices and more content, a company like workronic arts who has a fully of content that maps across those devices and has of variety to the largest gaming population on the planet, we have unique position to help them find what is meaningful to them at that moment in time. that delivers value a lot greater than just content. >> i am so fascinated by the way gamers and game developers create this content and create an immersive experien

. >> can i return this to a regular saks fifth avenue? this line is actually produced for the outlet stores only. >> they say that their store is a mixture of overflow and made for outlet. at the nieman marcus studio? >> is this made for the regular store? lastey tell us that their call clearance stores receive overflow from neiman marcus, but are alll studio stores outlet clothing. at the gap? to the regular store? >> they say their stores only carry me for outlet clothing. to a professor at the university. >> you can see differences that are writable -- right away apparent to me. here is a slight puckering in the seam of the one of the outlet. in the regular store, there are finer details. >> check out where each one is made. >> the one from the outlet is made in china. one from the regular store is made in italy. toshe points out an easy way find they are made for the outlets. >> the labeling for the three squares denote the outlet. >> what about the comparison to market prices? >> it is not clear from the price what they are comparing

. >> oh come on,1'<;.j christ sak >> what does republican stand for, do you think?ay get your as in gear. >> i used to go here. v know that?j f >> my dad went here. >> i'm not as old as your dad, but thanks. making them. >> there's the library. iz spent a lot of time in there. there's the football2w]3w field there. four touchdowns/yav inqóÑy one >> at the time i scored fourdr touchdowns in one game on this field. >> you don't0+bt" very:4 convinced. come on, don't you guys have any pride? >> ever watch "watters world"? >> the movie with kevin costner? >> yout[( i ever watch "wattersh world? i'm watters and this is my world. >> oh, really. >> that was trinity, right? >> it's just a college. you went there.!m how far from hartford is that? >> it's just#3ñá7;ydñ down thm. i walked.,4Ñaround, never got i'm surprised no one's invited me to speak at commencement. the most famous people that graduated from trinity, tucker carlson, george will and myself. >> is that right? i bet you will and carlson got3@ back.ed you're associated with me. >> that's probably why. you're

heather, i see you more saks fifth avenue right now. heather: barbell shopper.uy high stuff and low stuff and everything in between. don't miss add dam on the fox business network. if you're not sure where to find it, lowing on to foxbusiness.com channel finder. i like online shopping. that is easiest. can't beat that. jon: i'm all about online. >>> a woman who admits killing her estranged husband is now on trial for murder. anita smith think says he was viciously attacking her when she shot him. prosecutors tell a different story. that she stage managed scene including stabbing herself. is this a case of murder or self-defense? let's bring in our legal panel. ashley merchant, criminal defense attorney is former prosecutor. strange story the couple marry ad couple of years. things were heading south. they were headed toward divorce. but they were getting together on daily basis to engage what married couples do. she admits they were having con sense awl sex. it ended that night and took up a shower and she says threw her back on the bed and essentially starts to

tough hear about the one of saks fifth story. let's check in with allen wastler. >> you are right.re loving this story. it makes the ceo look like a genius on the air earlier today and talked about itment he bought saks fifth avenue last year for about $2.9 billion. okay? and, oh, well, this week he had one building. flagship building in new york, it was valued at $3.7 billion. so, you know, he bought the whole company. a building outpriced it. he took a victory lap. everybody's loving that story. number two on the list, this is one we picked up from "usa today." they're changing the rules about pensions and 401(k)s. the pension benefit guarantee corporation, they said now you can roll your 401(k) money into your company pension, assuming your company has one, and they will allow that to increase your payment from the pension. now, remember, they only insure things up to 60 grand. they say that limit won't apply to what they add in from the 401(k) so you get a bigger boost. if your pension goes under, then you get that back, the 401(k) money back as a lump sum and then the payment

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. >> bloomberg television is brought to you by goldman saks. progress is everyone's business. ♪ >> this is bloomberg's special coverage of election 2014. i'm pimm fox. how much money does it take to win an election in the united states? the answer, a lot. the 2014 midterm elections will be the most expensive midterms in our history. the center for responsive politics says more than $3.5 billion will be spent on today's election. here to tell us where all that money comes from and where it goes, from washington, d.c., sheila crumbholz joining me from new york and nina dunn, former telecommunications director and manager at s.d.k. knickerbocker and senator john sununu, former republican senator from the granite state of new hampshire. sheila, just describe how much money is being spent on this election? >> $3.7 billion will be spent when all is said and done. slightly higher than 2010. and surprised it's not a lot higher. but there wasn't a competition we had in 2010 and the senate seats that are up are not from such big states are or big ticket

they can have poignancy which is the sak site of a negative and positive emotion at the same time, into you incarcerate and use those words deliberately. put people into nursing homes over into housing situations where they will feel they are at home. what's the most, then you're sometimes people in nursing homes? when do i get to go home a? those other groups who are, have much lower levels of happiness. and i think that's the crucial find income is that win, we have become a society that has made it real possible to have a great life because we have pensions and also security for when you retire. people are able to sustain themselves. they can live independently. we get knee replacement and other things that keep us going for longer. there is no better time to be elderly in history, but when you become dependent, when you know longer can take care of yourself when you are having trouble with false and amendment is going and you need help, that is when it suddenly turns the tide and we are put into institutions that no longer on are what we have, we get to have a tone which are choices

for a while has been in the research stages of collecting a driver heart rate and collecting drivers saksxactly that type of information. if we're talking about that information absolutely why it needs to be protected. in fact in today, response to the pledge, senator markey announced that he would be releasing results from an investigation over the privacy and security standards of auto manufacturers. and he will call for clear-cut rules, not voluntary commitments to safeguard this information. gerri: that is your real objection, right? this is a pledge. my guess the automakers are doing it because they don't want a law to be passed. they're hoping to take, you know, if they put this forward, then there won't be a law. a couple of things they're using to sell to us. i mean, for example. maybe you could get road condition alerts. maybe services to unlock your car which exist already today. car-to-car communication. there are some things out there, i guess, some treats, some candy, that drivers would like to have. do we want to throw everything out with the bath water here? >> absolutely n

took equity in aig and imposed a very heavy interest rate of 12% on them and then, bailed out goldman saks and morgan stanley stanley and other banks at a much better rate. >> i think it may mean hank greenberg may actually win this. this may set precedent in the future. that is most important. however the judge rules on this will be in the record books because right now there are no opinions. there is no background. there is nothing to go by. whatever the judge says could set precedent for future. liz: aig of course was the company that insured a lot of toxic debt. let's just remind people of that. problem, how do you feel about this? again the law is the law. the law states that the government can not seize equity in any company. it cangy a deal. it can give a bailout but at fair terms. >> right. well, i say let's put greenberg on the stand and let's find out. when we go back to 2009 and we look just how close we came to a catastrophic situation what most people don't understand approximately 70% of the airplanes in the sky were insured through some aig company. which means had they fail

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. >> gary: they set capper net eight times force and i was a career high for saks. >> gary: he claimede and the referee said the ball was fumbled the went along replay that was inconclusive and the game was over. >>: meridor and dumb stuff and they took the advantage of it. >> gary: the use profanity and we believed it. more more to the bow more to the point and i swatted gaum the tobacco is not good for you. >> gary: ec they cleaned it up was a lot of good names in baseball and give tony gwynn suffered from cancer because he was chewing tobacco. >> gary: we hope it's not tobacco. do care about the health. >> gary: today was the shortest monday press, as conference for hardball. 11 minutes. >>: that there's a lot of finger pointing but we're not gonna be concerned about what other people think. >> gary: as a tough time from harbaugh and is it even tougher time for the forty- niners. >> gary: if indeed there is a personality conflict between harbaugh and the upper the upper management. >> gary: as a deal that only works when u.n.. if they happen to going to new orleans and lose the game

all those tvs that grasso just spoke of, that extends sales into january for them, whereas macy's, saks, and the rest don't really have that. >> and given mel's academic history, you have those geek squad guys that come in their little volkswagen. >> what are you talking about? >> that's the best buy guys. they have a whole geek squad thing. >> i'm going to move on. >> they will install your television if you buy it from best buy. >> that's why the stock's up this high. >> i got it, i got it. >> we've got an earnings alert here on gap reporting after-hours. let's get to kate rogers in the newsroom. >> check out gap, the apparel retailer moving lower in the after-hours. the company beating street earnings estimates by a penny, but its revenues coming in a bit shy, hurt by a 5.5% fall in u.s. sales of its namesake brand and its fiscal 2014 earnings guidance also coming in below street expectations. the stock is currently trading down over 3%. back to you. >> all right. thank you, kate rogers. what do you think? >> well, i own it, so not delighted by that, but, you know, they had already s

saks stay with us. >> with pleasure. >> we're going to have some rules. be some. >> can he say big money again? >> he can. >> i think he can. >> because we know he's going to say whatever he wants to say. >> i'll be staying. >>> up next after making across the grand canyon, nick washingtwallenda takes a stroll above the windy city. >>> isolation for 21 days despite showing no signs of the ebola virus. the story of the doctor who endured those three weeks plus why he felt ashamed when he returned from west africa. that's horrible. more "morning joe" when we return. woman: everyone in the nicu -- all the nurses wanted to watch him when he was there 118 days. everything that you thought was important to you changes in light of having a child that needs you every moment. i wouldn't trade him for the world. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. if you're caring for a child with special needs, our innovative special care program offers strategies that can help. into one you'll

the saks fifth avenue store on fifth avenue in new york is one of the most valuable retail propertiesthe country valued at 3.7 alien dollars. -- $3.7 billion. the parent company announced it took out a loan against the flagship store. the steve jobs movie has a new home at universal pick her's. its two-year development that we could go. $30 million was paid for the title. the hour miles past which means bloomberg television "on thequote -- is markets." we will get more economic numbers today including the second read on third order g the but also case schiller. .hat will be out at 9:00 it is a retrospective look at the housing recovery. . rum --r service to and there are some of the enticements that mall owners are using to get shoppers to get into their door the season. in an age when customers can simply buy gifts over the internet, will these gimmicks increase your traffic numbers? malls,yman walked of the some of the biggest ones in new jersey, to find out how retailers plan to thrive this season. one of them was the garden state mall? my home base. >> do you frequent the garden s

. >> saks fifth avenue building has been apraised at $4 billion.e appraisal makes saks fifth avenue one of the most valuable. >> this from the hollywood reporter. good news for "star wars" fans. good news for all of my children. the iconic franchise is set to release the first trailer for "the force awakens." lucas films, the tease will play at theaters around the world after this weekend and the "star wars" film is set to debut in december of 2015. andrew is excited. joey is excited. jack is excited. kate -- >> is that too long? we have to wait a year. >> we waited long newspaper for "star wars." >> you talked last week about watching old movies with our kids. now we're at the "star wars" movie. they are in love. >> do they love it. >> lucy and i had a long talk the other night whether darth vader is a sympathetic character. good movies. haven't watched them in so long they are so good. >> they are amazing. you go back and look at the first three which i would never have done if jack hadn't said let's go back and see the first three. they are actu

he's also the former chairman of ceo of saks fifth avenue.. >> good to hear from you, becky. >> we were talking about the potential problems retailers are facing. particularly apparel retailers. they have cold weather going in their favor this year. what do you expect? >> absolutely. i think weather is a favorable -- look how cold it is out there right now. you have a better calendar this year than last year. i'm optimistic. the nrf is looking at 4% growth this season which is better than last year. >> have you raised the expectation once we saw oil prices come down and kind of stay there for awhile at this point? >> i think you've got a little bit of positive wind behind you. the oil prices are helping. i just feel that momentum in the u.s. economy, the inventories are well placed. you certainly have the electronics with the iphones that are helping. so overall i think you have a relatively good environment. >> what are things that you worry about being a former retailer yourself you have to have a list of things that you constantly have on