salesforce dropped out fairly early in the running because salesforce turned around and bought demands interesting is that sort of implies and we don't know the specifics yet, that salesforce -- running to fill parallel running to m&a processes -- two in a processes. from what we can do, we don't know if they even knew about each other. if this detail about what exactly did salesforce bid, when did they come in to the process, we will learn more and the proxy that will have to be submitted when microsoft and linkedin say this is how this merger came together. that will be in a few weeks. there is no exact date yet. salesforce won't he named -- won't be named. we have enough information to find out exactly that was probably salesforce. vonnie: i was surprised salesforce was going for something like linkedin. alex: yes and no. salesforce is much smaller than microsoft. that said, if microsoft is looking at linkedin, microsoft is a competitor to salesforce. as a matter of fact, microsoft thought about buying salesforce last year. but those talks dissipated after we broke that story. simi

bloomberg has learned before microsoft bid on linkedin, salesforce made a bid.arah frier joins us. this is really interesting, and it starts to make sense what microsoft saw in linkedin, because salesforce saw the same thing. jeremy: and also the price. people were questioning microsoft paying a premium over their current trading, although lower than what linkedin was trading at six months ago. people were saying there must have been something going on. of course, bloomberg broke on monday that goldman sachs was working with a rival, which is thee -- which is why linkedin-microsoft deal was handled by morgan stanley. now we know. cory: do we have any sense as to why this bid was turned down? did they not like the people involved? ceo ofnteresting the linkedin will remain in control of linkedin while brought in as a separate company, not fully merged. that is a thing jeff weiner said that really attracted him about the acquisition, that linkedin would continue to operate independently. there is that separation between seattle and san francisco. in this case, we d

but growing at a faster pace than salesforce was.e decided they wanted to be near that business. and indeed wanted to benefit from being closer to the customers and being present in verticals. shery: will this purchase boost competition with oracle or sap? sheelah: the price suggests there was competition to acquire this company. extraordinary multiples for the company. $67 million in sales last quarter. to pay $2.8 billion for a company that is doing $300 million in annual sales for this current year and losing money at it suggests there was competition for this deal or toesforce was really hungry add to its top line because they have added nothing to the bottom line here. area, in light of this what does he want this company to become? wants it to become massive and prevalent in all kinds of industry. picking up those verticals. he recognized that the market doesn't care that the company is losing money right now. you can take a lot of money from to make this deal and grow the top line ends end -- and spend fortunes on marketing. r

salesforce, happens to be in new york.hy do you need demandware given the fact i have seen your customer relations management and didn't seem you needed any help in retail? >> well, jim, i couldn't be more excited about this deal and i'll tell you why, our customers are trying to connect with their customers in a whole new way, sales, service, marketing, analytics, apps, iot, all of those things we've talked about many times, now they want to create their own stores as well. online stores, physical stores, the commerce cloud, that's what we're going to create with demandware, it's going to be amazing. >> and yet on our last conference call and your interview you talked about the new extension of the fabulous work you were doing with amazon. i question whether amazon doesn't get cut out by this deal. >> well, i think that what you see is companies want to have that same one-to-one relationship with their customers that amazon does. and this is a huge motivation for every retailer in the world who doesn't want to be like ama

we thought it was salesforce.t on salesforce and linkedin and got waved away from it. they kept it to a small group of people. you only see one bank for microsoft. that tells you more traditional bankers are not on the deal. they are probably on the phone now screaming at somebody. jon: jeff mccracken gets many big scoops. this there a lesson being learned here by some companies? it is usually not a benefit for to bequiry -- acquiree looking at a deal and have it leak because they have to pay more. is there a lesson for other deals down the road? >> it is a lesson they should have learned years ago. it is obvious if you keep it to a small window it is less likely to leak. does steve ballmer feel on a day like this? david: this is not consumer facing. >> from the day he has got income he has been serious about the enterprise, about the cloud business. he wants it to work on the next -- lennix now which is odd for a company like microsoft. david: what is microsoft's track record on taking big deals and making them w

is this all-out war on salesforce? edin couldplus link be a from edible challenge. -- could be a formidable challenge. >> it will be interesting to see the way the rest of the industry response. >> i'm sure it will be interesting to see how the industry and customers respond. it is all about adding value to our customers. >> the biggest question of all is integration execution. can microsoft make this work? microsoft has not had a great history of integrating big deals. if you look at nokia, or skype to a certain extent. one of our gadfly columnists put it bluntly, can microsoft do

dollars salesforce licenses, nonpersonal services, and material and supplies. so, that is the projected budget for the next two years. then, on the next page, i didn't list out who is on staff for our staffing. >> these positions all currently filled? >> the legacy business program manager is. we are waiting to fill it and was business counselor is at halftime and will be filling it with a full-time. >> thanks. is it the same person? >> another. typically, commissions do approve the budget. so, if you are not-want to wait one meeting and wait another meeting to approve the budget it's up to you where you can approve this project. >> i propose that we >> we should do public comment first. >> any members about of the public that would like to comment on the seven? seeing none, public comment is closed. commissioner riley >> what is that 50,000 come from? >> that comes from is a dollar that charged business registration. this is the state requirement so was due to sunset after 2018. the city gets to keep $.70 of every dollar we send $.30 that goes to the californi

there's a lot of leverage they can get because they have the best salesforce in the cloud and it's going to be much more than 300 million. deal in terms of expanding into the cloud. i took a whole day off yesterday and i miss a deal. there's in seven over the last few weeks. this suggests maybe there was not a known competitive bidding situation. they just thought if we don't take it someone else will. look --e believe if you from the aspect of of software m&a, it has picked up. the ipo window is somewhat shut. we've only seen one or two deals this far and it wasn't met with a bang. you are seeing the talent of the tech psycho -- tech cycle. typically you see a cleanup now they are chasing opportunities and consolidation makes sense. oracle anden vertically aligned itself -- this was vertically aligned toward retail, so we think that's going to continue. we expect m&a to ramp materially and the multiples have an stepping up. i think everyone was surprised they were bought or five times sales. cory: if you look at the m&a numbers, it's going out seven or eight times sales. billion for a m

you wouldomething turn to salesforce or oracle for. now linkedin could develop something because they have the sales lead and a huge audience that looks to them for the sales s.ad microsoft and linkedin could write that software and have the development to do it and they have the -- they hinted at it during a conference call and that could be really interesting. david: cory johnson outside the worldwide developers conference. think you very much. the markets close in less than two hours and stocks are near session lows. ramy inocencio has a look at the latest. ramy: we are seeing this downward trajectory throughout the course of the day. this is a snapshot with the dow and s&p off on the order of about .5%. ofare looking at a lot headwinds this week and next week with the fed. the june meeting and the bank of japan also meeting to talk about rates and the brexit is definitely on the mind of traders. let's look at my bloomberg and i want to show you what's happening on the s&p. creep up across the board. utilities are only marginally up

how are they when you compare them to companies like salesforce?hink what is interesting is that it's probably 8% of revenues on a trailing basis, but it's growing at a 30% clip, fueled by acquisitions they have done. i think we will hear a lot about how those acquisitions are faring and how important they are to oracle's overall growth. see what curious to goes on in terms of earnings after four successive quarters declined.d oracle may reverse that and start to see some of the benefits of the move to the cloud. vonnie: what is oracle doing in the cloud? how is it differentiating itself from its competitors? under thehave to get hood to see the differences, but they are competing in places head-to-head with salesforce and i think we will hear a lot of that in the call where they are suggesting integrated solutions. we are also paying attention to what's going on in the hardware division, sort of a cloud in the box. that's been a struggling component of their earnings for many years, looking for some excess or at least to see the bleeding stopped.

salesforce crm and adobe very similar companies.ove each other, just really good mix there. and i've got to tell you those who didn't understand the way that the salesforce and the way adobe accounting is, which you know, david, looking to defer revenue, don't forget this company is making a lot more money than it looks. double digit growth, digital marketing so on fire and yet everyone's so quick -- the guys who sell it don't know what it is. they think it's like the pueblos. they think it's kind of like a pdf. it is the ultimate salesforce meets s.a.p., develops the cloud, more mobile, analytics. >> lots more to come right here on "squawk on the street." stay with us. they found out who's been hacking into our network. who? guess. i don't know, some kids in a basement? you watch too many movies. who? a small business in china. a business? they work nine to five. they take lunch hours. like a job? like a job. we tracked them. how did we do that? we have some new guys defending our network. new guys? well, they're not that new. they

with the demand acquisition, one thing you can look forward to is salesforce being able to bundle this solution along with the sales cloud marketing cloud and , services cloud. there's a lot of leverage they can get because they have the best salesforce in the cloud and it is going to be much more than $300 million, in terms of expanding the cloud. interesting to me also, i took a whole day off yesterday and i missed a deal. there is seven over the last few weeks. this suggests maybe there was not a known competitive bidding situation. i guess we will find out if the documents they just thought if are filed. we don't take it someone else will. brent: we believe there are -- from the perspective of software m&a, it has picked up. the ipo window is somewhat shut. we've only seen one or two deals this year so far, and it wasn't met with a bang. you are seeing the talent of the tech cycle. typically, later in the cycle you see a cleanup phase and now , they are chasing opportunities and consolidation makes sense. the larger guys are chasing platforms. you have seen oracle and toward retail

salesforce does not need the growth.would be buying a company growing roughly the same, maybe a little less. but you don't know because if you listen to the unbelievable oracle call last night, you're dealing with a company that says they're not growing that much at all. the oracle call, one of the great thing, larry ellisons three mentions salesforce negative, you always have to keep score of what they say because these guys are the fightiest guys evfight ie -- feistiest guys ever. at one point -- honestly, if marc benioff were an upset guy, he would have thrown his mouth guard at ellison instead of just steph curry. >> let's listen to what ellison said last night. >> we'd like to accelerate our staff and past growth and make sure we're growing at least double the rate of our closest competitors. we think we have a fighting chance to be the first staffed company to make it to $10 billion in revenue. >> no. no. really, it's going to be -- look, this is a horse race but benioff is going to be their fast tracker. he's that

salesforce also unveiled new plans for an incubator for new startups.ing up, apple's developer conference is a week away. what does one former apple evangelist want to see from tim cook? we will hear from him next. emily: the u.k. house of commons billassed a controversial giving spy agencies explicit authority for mass surveillance and computer hacking. the bill was modified to address concerns of apple, google, and facebook, to name a few. companies will not be required to build backdoors to their encryption and will only be required to remove such code if it is technically feasible and not especially expensive. mobile carriers will also be responsible for restoring data on behalf of spy agencies. bill falls into the hands of the house of lords for a final vote before becoming law. one stock we have been watching this week is amazon. shares hit a new record of $728 on thursday off the back of a handful of bullish analyst. speaking of amazon the company has to self publishing platform continues to change the industry for authors. analyst chief apple .p

on a different way and obtaining at the same time efficiency in the management of the grid the salesforcere important and in this instance sustainable we're doing the specific initiatives with sharing cars for example, and bus car in chillingly and electrical taxis in above the blue and windy sea to we're contributing utility on those different specific requirements and it is important ♪ sense the corporation with the place the local authority and government is very supportive on this sense we can't do this type of initiatives without the support and the engagement of the local activities the most - the locals say the local communities and consumers and so much it is necessary to solve with them this project so make it as sustainable and reliable and affordable thank you very much so ladies and gentlemen, we're at the end of this two things if i may undermine we understood the cities are extremely critical if we were to address our climate challenge number one and number 2 local governments we need to be bring a critical roll in terms of which measures then and how when it comes to buildi

it's a much bigger bet for salesforce than for microsoft.ere thinking about a bet-the-company thing. they bought a much smaller company instead. they decided to go in that direction ultimately. the other interesting thing here is that, last year, microsoft was thinking about buying salesforce. we broke that story. microsoft started to hear from its shareholders and realized that was too much of the -- a big bet-the-company event for ceo satya nadella. there is a lot of looking at your rivals and figuring out what we want -- want to advance in cloud services and how big of a bet are we willing to go. thethan: alex sherman, best-kept secret in silicon valley in the last six months maybe? coming up, it is "bloomberg markets" with vonnie quinn. speaking onill be global markets. campaigning is suspended today after the unfortunate death of jo cox, the mp. the market seems to be calming slightly. we will speak with the ceo of the margaritaville, the jimmy buffett empire. and richard jones. david: thanks so much. more "bloomberg " coming up rig

we're going to start out talking about "salesforce" making a big deal today.rancisco software leader is buying a company for millions. it's based in massachusetts and makes software for e-commerce. "salesforce" says it will allow it to expands its own e- commerce business ating $100 million in revenue a year to its business. >> on tesla, the company had a meeting, elon musk hinted that the future modal 3 may not allow owners to have supercharge access. that network allows owners to charge up cars for 30 minutes quicker than home charging stations. up until now all tesla owners had the free service. the model free is half the price of the model s and to make that work the company may have to charge for supercharging stations -- unless those owners buy a special package that would include free charging. shares of tesla are lower today along with the broader market. let's go to the big board and see how we're doing. we had a mixed session yesterday. not so hot today. dow down by 110. nasdaq down 21. s&p down 10. back to you >> thank you. >>> the family of the san

housing but we're also seeing the technical factor starting to soften in twitter and microsoft and salesforce a variety of stovetops not getting funding we need to keep in mind that an anchor formula retail can anchor that corner and bridge polk street upper and lower polk i strongly oppose any limitations to our choice as a member of the neighborhoods thank you. >> hi govern my name is sharon solomon on behalf of my mom who she's out of the country so shows and homeowners in russian hill and been in the neighborhoods for over 40 years she's hoping the san francisco planning commission and san francisco supervisor peskin will be able to come together on a consensus to allow whole face to be part of communities she feels as it to she wants something in walking distance affordable and there should be more excuse me - fresh organic options available to all of us which we believe whole foods can offer us thank you. >> okay turning your attention i live on green street like many here i took iuoe off work to be here i strongly oppose the banning on polk street for the better part of 10 years i have

salesforce. >> they are doing everything right. the guy givings great interviews.how to speak to the street. it is a company that continues to you both by acquisition and organically. the only knock on that company has been valuation. but the market shrugs its shoulders. i said three years ago that ibm should have spent that money and bought salesforce. that horse is out of the barn. but again these guys and gals are doing everything right at crm. and it is just another example of them using their ambulance sheet. the strength they have, to make acquisitions that will benefit the long return. >> tougher the last year or so but today might be a sign that if salesforce is getting in a lot of other attractive names in the space could be available. >> and that is one story that continues to have legs to it and continued mergers and acquisition activity. and given the fact there is credit availability, that you still have the rates being low. i would expect a lot of other companies are going to take the opportunity here, since they haven't been doing that organic invest

salesforce recently announced its biggest acquisition yet to better defend its share against oracle andterl watch all of this oracle releases its earnings on thursday. joe: we will be right back. ♪ eye says offers came after morgan stanley was hired to fill takeover interest. the company turned down two offers. drove gawkerhat media into bankruptcy is on hold. paul cogan successfully sued for $130 million after the online -- successfully sued for $130 million after the online publication published video. barclays says it is allowing staffers to take more time off when having a baby. non-primary caregivers can take up to six weeks off with pay. primary caregivers will be allowed to break it into chunks. report, caviumto , a 14%iring qlogic premium. surging inlogic after-hours trading by 13%. that is the bloomberg business flash. joe: "what'd you miss?" been snubbed from the msci, but pakistan is in. granted emerging market status. the prospect of hundreds of millions of dollars leeward into the market. i want to bring in the chief investment officer from stockholm. thank you for joining

is this a war on salesforce? >> it might be. linkedin or microsoft might have had a hard time.look at the presentation, and itfocused on sales was telling of where they are taking the business. twitter roped into selling? >> i tend to think that it doesn't have a thing to do with twitter. it is not an advertising company. they sell to recruiters and other professional people. i'm not sure that people who hope for the twitter acquisition, that this means much for them. -- that this means much for them. emily: microsoft is in the advertising business. how does this change the competitive landscape? figurele are trying to this out and they are trying to piece together if this is about rtana, cour integrating with office. microsoft has had success with some acquisitions. clearly, a lot of the acquisitions have not hit a mark. anthought this would be acquisition that we will look back on and say it was not so good. a piece todayed by saying, "will microsoft do this without breaking the new toy?" >> that is the question. this deal could look smart, if microsoft does what they promise

salesforce is a very successful business. their demand share is an e-commerce company, $75 a share is right. that is quite a healthy premium over what they ended at yesterday. we are going to move to a warning on the global economy. paris and go live to check in with caroline hyde for the very latest. they started these meetings with a bang, chastising them for relying too much on monetary policy. what is going on? caroline: it is fired up inside because this is a call from the oecd to get the government's to step up to the plate. they say monetary policy has done enough and all of you nations with negative interest rates, start spending. stop shutting down the barriers, start opening yourselves up and boost trade. -- i spoke we have to the secretary-general of the oecd. , that isment today going at about 3% to three and a half percent. it should be at 7%. credit is not flowing. the strong to medium enterprises saying conditions have tighten very much so they are not getting it. caroline: it is pretty fascinating on a day tha

which is that salesforce is -- what's the point of salesforce in all the contracts? it's to make it so there's no one between you and the customers. like secretaries. >> right. >> frictionless. and when you see the contracts that they get, i'm not saying that marc benioff is antiemployment, just being -- i'm trying to be as apolitical as possible, but it does seem to be a lot of things came home to roost at the same time we're finally seeing oil and gas companies belly up. david $50 a barrel, $49 a barrel, everybody held on as long as they could. there are 20 counties in this country that can make money. a lot of these guys come on and they're speaking bank of america clients. >> understood. >> they either get the futures to -- get oil to above 50 so they can sell crude in an efficient market or they basically are stuck. >> not sure what to make of the 458,000 people who left the workforce. that takes the participation rate down to 62.6%. that's just off kind of its lowest level we've ever seen since we started to keep track of it. >> look, i mean, obviously with the

has already taken steps in that direction, could they create a competitor to the likes of oracle, salesforce, s.a.p.? using all of the tons of data that linkedin has gathered for the last 15 years. and they could build something even more special. they also have a billion dollars in profit. could they take that billion dollars of profit and build yet another platform on top of it. surely that is the hope of such dellaella -- satya na -- .'cory: it is rare mark: it is rather apple is this place by other news. maybe you are relieved because you have something else to talk about. but you are there. siri could bethat big? cory: you have seen them running ads about what they're doing ith apple tv using siri, but am thinking today so much about platform and how companies use applications on the front end, like linkedin, to back end like ohe azarenka out -- azura cl cloud ofud of -- microsoft. what apple has done is inspire millions of companies to build apps for their ecosystem. you see how microsoft is thinking the same way -- the apps on the front and help grow the backend business. the apple jo

for microsoft, the obvious things it does it allows them to compete better against salesforce. second thing is, and extend the half-life of outlook. if you think about it integrating people's profiles, profile data into that usability, that become slightly more useful than it is today. it is why it is great for microsoft. for linkedin, it gives them raise to operate. trading them the past quarter, they demonstrate how fickle they were. and then what is great for the that jeff is the presumptive ceo to calm in 10 years if he decides to stay. white is great for silicon valley is jeff is smart, he is an aggressive guy. emily: do you think jeff good replace? chamath: and five or 10 years when fox deal is done, jeff will be early and ready to do this. if you give him a half trillion dollars market company and 100 billion of cash, you could see him do great things for himself and microsoft and the ecosystem of silicon valley. emily: linkedin was one of the biggest offenders for paying employees and not accounting for it. is that ok? chamath: i think what is happening, the short answe

clearly amazon with their web services and work day which is a manufacturer of hr software and salesforce ultimate software which is cloud-based payroll and a host of smaller vertical cloud companies like guide wire in insurance, tyler technologies in the private sector for state and local government cloud-based software. a cory:ltimate is company that has been around forever, since clouds were in the sky. is it truly a cloud company? their growth really has not changed from when they were on premises to whatever they are today. >> we defined cloud as multi-level. if you run multiple customers on the cloud off premises, that's truly cloud. we would contrast that with p.acle or s& they are not really reaping the benefits of it so real cloud-based companies are steady growth because they can pick up market share from a legacy company like adp in payroll and slowly grow. out as a money manager manage that? s, we focus at grassroots research so we attend an industry event. next week, i will be at the red hat summit in san francisco. that is where we try to pick up on the shift in starting las

they say salesforce was advised by goldman sachs in the negotiations but microsoft one out. software giant unveiled for $24.2uy linked in billion in cash. atsubishi motors will take ¥50 billion charge in a report to japan's transport ministry, the carmaker says it found inappropriate texting and up to 20 models sold between 2006 and 2016. that is the bloomberg business flash. francine: it has been a few tweaks for central banks and they chose to do nothing. the fed, the boj and the boe keeps their power drive forward. let's continue with central-bank discussion with stephen gallo. stephen, thank you for sticking around. your assumption is that even if brexit were to happen, because it has been telegraphed, the temperance of the markets will be coolheaded than what we have heard from commentators. stephen: at this stage -- how many years from the gfci are we? we are used to crises. definite that we are good to see the same type of financial trauma in the global financial system that we saw in 2008. are a said that, there million numbers of gauges that you can look at. nervous

but there are a handful of commercial buildings going up, most notably the salesforce building.s a building right across the street that will have a few condos. new inventory is coming on the market and what effect is that having? had 3.8 million square feet under construction right now. that 3.8 million square feet under construction is 25% pre-leased. 75% of the space coming on has yet to be leased. robert: that's true, essentially from the end of this year through 2018. we have a wide bandwidth for this space to roll onto the market rate we have 3.5 million square feet of tenants in the market right now. 11 of those are looking for 100,000 square feet or greater. the top 4 of those tenants, this would be pure expansion if they come into san francisco, a couple of them are coming in from outside of san francisco. life sciences and tech, big surprise. life science downtown is a bit of a surprise. robert: they have been in mission bay for some part of it and down at the peninsula. we've seen most of that activity for them there. this is a tenant coming from outside of san franci

emily: is this all out war on salesforce? >> i think it might be. think linkedin by itself and microsoft by itself would have a hard time competing in the same way that linkedin with microsoft could compete. if you looked at the presentation, it was focused on sales relative to recruiting, which is linked in's biggest biggest -- business line. emily: does twitter get spooked into selling here? >> there was a lot of interest in what this means for twitter. i find it hard to believe that an acquisition of linkedin would really have anything to do with an acquisition of twitter. link and is a social network, but not really an advertising company. -- 2/32 -- 2/3 of their revenue recruiting. emily: marketing solutions is another big part of the business , the other third of the business and a business microsoft is not really in. thedoes this change competitive landscape? >> we spoke with people this morning that were trying to piece together, is this about sales, or tana -- cortana, something to integrate with office? there is uncertainty about what this

is this all out war on salesforce?iting me, it's an opportunity to take dynamics and integrate it with social selling. the idea that salespeople have a crm system to manage the business process is fantastic and we are growing very well there. but really what salespeople want to do is sell and social selling is at the core of that. bringing those two things together as exciting. but dynamics is much broader than just crm. we have things in human capital management, erp. broaderkedin is much than social selling. talent management, recruiting, learning systems, marketing. all of those things can be integrated into dynamics. and we will have a much more complete business-plus system. emily: jeff, was there anyone else in the market to buy linkedin? jeff: we are thrilled we part of microsoft and the way that this process ended up. satya, will this spark more m&a? satya: i'm sorry, emily, i didn't quite get that -- emily: anymore big acquisitions to come? satya: i'm excited about the linkedin acquisition, and i am looking fo

how has the salesforce held up? these are all questions that obviously everyone is looking for. are not on -- not obvious and the stock is telling placew it is running in right now. considering that everyone looks at the same drug data, that's the amazing thing. the same number of prescriptions are filled, but everyone has the same questions. some people say it's worth 60, others say zero. i bought them as a trade. but what i also thought was better is that since valiant, as i mentioned, we are starting to see some differentiation in the pharmaceutical names. but what's happening with allergan right now. that's wonderful news about it. brent sanders is just a total superstar. the fight that they put against valiant turned out to be smart and they are putting into the bucket of good pharma. similarly, the criticisms i've had -- i have deep criticisms. i think that companies main product is a complete joke. i think that their stock cannot rebound and must be put in the area of bad pharma. most important leak, the concept of a platform company is completely gone. so, where it is fo

it comes to oracle picking up share in the cloud business, is it doing it by stealing share from salesforce or picking up new share? >> it is hard to say. it is unclear how much growth is happening in the whole industry. these are very powerful growth numbers in that business. say it is notill really cloud and there's no such thing as a private cloud and if you have to buy hardware is not really on the cloud. i think that is a mincing of the words of little bit. they want us to believe that cloud is going well. these numbers show us terrific cloud growth. scarlet: what kind of headline could move the stock? i always is in for larry ellison to insult his competitors, and he often does not disappoint. i do want to hear about name customer growth and get a sense of whether they are gaining share in this business or are all boats rising with this tide. scarlet: we also have earnings from smith & wesson, a big beat for fourth-quarter adjusted earnings per share, $.66 versus $.54, so this is a beat, much larger than what the company had anticipated. when it comes to revenue, $222 million versus $

i think of him saying that, mark benioff of salesforce. two guys are like to talk big about the cloud space. they like to talk big about anything. they see opportunity in this. $10 billion in revenue would be something. $690 million in the quarter puts them quite away from that. but with these growth rates, it is hard to imagine where they can get to. interview withy mark benioff, and this was a big part of his hope, particularly around erp. next five or 10 years, you will see perhaps the majority of i.t. shift to the cloud. so for us, we see it as an opportunity. the fact that we have such a , it will be important to make those two worlds work together. cory: what he is talking about webe is the amazon services-like business where they are doing hosting of the software in data centers around the world, delivering the cloud in a physical way for companies hosting their oracle sword -- servers. not, but it is it is a change in the way that software is being done. vonnie: can oracle continue to grow at those kinds of speeds in the cloud with

dollars salesforce licenses, nonpersonal services, and material and supplies. so, that is the projected budget for the next two years. then, on the next page, i didn't list out who is on staff for our staffing. >> these positions all currently filled? >> the legacy business program manager is. we are waiting to fill it and was business counselor is at halftime and will be filling it with a full-time. >> thanks. is it the same person? >> another. typically, commissions do approve the budget. so, if you are not-want to wait one meeting and wait another meeting to approve the budget it's up to you where you can approve this project. >> i propose that we >> we should do public comment first. >> any members about of the public that would like to comment on the seven? seeing none, public comment is closed. commissioner riley >> what is that 50,000 come from? >> that comes from is a dollar that charged business registration. this is the state requirement so was due to sunset after 2018. the city gets to keep $.70 of every dollar we send $.30 that goes to the californi

salesforce comes in second. researchers like where you can mediate. amazon does squeak in. they've had reputations as tough places to work. on the back half you have four out of the five bay area companies. microsoft gets number seven which is something for linked in because they're bought by microsoft now. linked created the list and they didn't make the list of their own great places to work but microsoft did. >> it's great to be able to work at one of those companies. it's difficult to get a job there. >> true. part of the factor and one of the reasons that google came in at number one, great place, hard to get there. >> as we know. >>> shark sightings keeping people out of the water. there was a white shark early saturday evening. dozens of people were in the water at the time. lifeguards responded quickly to get them out safely. >> we heard the megaphones directing us to swim straight under the wharf and get out at the platform so we just followed instructions. >> the water was evacuated and an advisory posted warning people to avoid swimming, surfing and water sports.

one would have thought they or a go after salesforce traditional software company, but this was truly out of left field. >> microsoft, next to amazon, has the biggest operational cloud infrastructure, tons of data centers all over the world operating at very high efficiency at very low cost and used by all kinds of businesses around the world. linkedin is very much a front in of a cloud application, something people actually do with a cloud software product. yes, they put their resume up and yes, people -- hr people will use it, and more important like, sales use linkedin to find people to sell stuff to. microsoft is getting a front end to their backend in terms of using business-focused software. it's very interesting what they can already do with that right off the bat and what they can develop over time. ily: what will that process be like, and having to you make sure this does not turn out like or tokia -- like nokia some extent even skype? >> this is writing the technology wave of the future. this is something that we can differentiate, and when i look at the different -- at thos

on top of that list is apple, salesforce, facebook, google and amazon but it's somewhat of a differentre in the uk where retailers are actually ahead of the list on top attracters here. i had a chance to speak with linkedin executive dan roth and asked him why. >> it's totally shocking to see a number of retailers atop of the uk list. these are companies that are figuring out how to get people to work for them. you think about retail as a place with high turn, very difficult to bring people in. uk retailers seemed to have cracked the code. and they are now places where they can get top talent just by saying we give you a great place to work. we give you great reasons to be here. and they know that they can't deal with churn all the time and still run companies that are going to compete against amazon and compete against each other. the other part is that, we've seen this globally also, is that employees really want to work at places that they can explain to their friends, their family. and say here's where i work, i work at john lewis. you know the place. you shop there. you can go aro

our cement is building two of the most innovative skyscrapers in the united states, the salesforce tower, which will become the tallest building in san francisco, and the panorama tower in miami, which will be the tallest residential structure on the east coast outside of new york city. mexico ranks within the top 10 worldwide industries in factors such as automotive's, electronics, precision manufacturing, telecoms, airspace, chemicals, renewable energy, medical devices, metal components, pharmaceuticals, and plastics. mexico contributes to strengthen these sectors for the benefit of our closest and most important outline, the unit -- a lly, united takes. at this point, please give me a few seconds to catch my breath, because as you can see, contributions of mexico to the world and particularly to the united states are not only huge, they are talmudic. but most importantly, and to the dismay of those who prey on this information and fear for n, the mexican people are and always have been a positive presence and force for good in the united states. [applause] and this is not an opinion.

company, and a ton of companies in space that have been funded by vcs and added to microsoft or salesforceof compani companies, but it is the newest thing, the season of the m&a season, and he is right, and a lot of companies including the big ones, and linkedin is going the sell, and yahoo! is for sale, and you will see a lot of transactions, because a lot of properties struggling or in some distress that would do great with a larger partner, and so you will see a lot of that going forward and he is going to be possibly one of the buyers, and obviously not bought because microsoft would be the obvious buyer for him, but it is an interesting time. >> when you spoke to him, did it feel that he was doing defense, and make salesare force as an acquisition that much harder? >> well, he seemed enthusiastic about doing the doeals, and he bought demandware and $2.8 billion is not a small deal for that company. i think that is what it was, and you will see at lot of the deals out of the players in order to consolidate the services they are offering to customers. he is not shy about it. and everybo

from across the country along with google, 7 other bay area technology companies made the list, salesforcebook, apple, uber, tesla, twitter, and area been be. they look at actions by the users to put together a list including how many times companies sites were viewed, job application, and how long new employees state on the job. >>> the giants have their a game winning streak snapped, the pirates won yesterday and one to nothing, the only run of the game was this home run that almost was not. he john chaney may have had the ball but it job -- it dropped out of his ball -- club. -- glove. the giant fish on the 9th, but brandon doubled up, he thought dexter's drive would fall, also bad news for the team 3rd baseman matt duffy put on the 15 day disabled list with a strained left achilles. >>> 6:57 am, the home in a client pleasant hill neighborhood the center of prostitution neighborhood. still ahead, a live report on what police say they saw inside and the arrest made. >>> san jose police officer killed in and moat -- in a motorcycle crash late to rest today, details on a public memorial se

dollars salesforce licenses, nonpersonal services, and material and supplies. so, that is the projected budget for the next two years. then, on the next page, i didn't list out who is on staff for

salesforce was advised by microsoft but microsoft one out..crosoft won -- has agreed to sell for 200 37 million pounds. -- 237 million pounds. they continue to offload peripheral assets. offers stores will be bought by investor groups. that is your bloomberg business flash. guy: let's get back to our top story tribute. jo cox was shot and stabbed yesterday >> we lost a wonderful -- yesterday. we lost a wonderful woman. her work will go on. as we mourn the memory, we work to achieve that better world she spent her life trying to achieve . >> people are free in this country to live their lives as they choose and express themselves without fear. society will protect their right to do so and hold to account those who disregard our rules. today's horrible events are an assault on all of these values. guy: the horrible events and yorkshire changing the markets minds after the trajectory of what is going to happen next. a black swan events. you could describe this as one of those. it is going to be interesting to -- in thee opponent run-up to this,

is this all-out war on salesforce?din couldplus link be a from edible challenge. -- could be a formidable challenge. >> it will be interesting to see the way the rest of the industry response. >> i'm sure it will be interesting to see how the industry and customers respond. it is all about adding value to our customers. >> the biggest question of all is integration execution. can microsoft make this work? microsoft has not had a great history of integrating big deals. if you look at nokia, or skype to a certain extent. one of our gadfly columnists put it bluntly, can microsoft do this wiht -- without breaking its new toy? i am emily chang in san francisco. manus: a great round up by emily. i've gone to bloomberg intelligence. they have run the numbers to see who gets what. this,med, take a look at these are some of the stats. for hundred 33 million users from linkedin. 7 million active job listings and 2 million pet subscribers. standpoint,rategic it seems like a natural extension of microsoft's business. from a financ