>>> what to do with the stock of salesforce. let's go to the man himself, fresh off a great quarter, here's mark benioff, the visionary co-founder, chairman, and ceo of salesforce. mr. benioff, welcome back to "mad money." >> jim, good to be here. >> good to have you in person. you put out a number more than 10 billion. we've been waiting for that. it finally happened, and you're putting out a 20 billion number which means you're not just thinking about thite >> it's very exciting. you can see the growth. it's incredible. you saw 12 billion on and off the balance sheet. that's amazing. >> last time you were here you were actually disappointed in yourself. you think there was business that could have closed that didn't. this is just back on track to the point where you actually are giving a forecast that's much further out than any other ceo i've been dealing with. >> last quarter we had that unexpected foreign exchange head wind. we talked about, the fall of the great british pound. we're past that. we had a great third quarter.

on "mad money" tonight, all eyes on are salesforce tonight. we'll take a closer look when the ceo joins me right here on the set. then they came. they saw, they conquered. i'm talking about my inductees into the "mad money" wall of fame. don't miss who i'm adding to the fabled wall. and this is rally for real? one stock can tell you just that. i'll tell you which company holds the key to this market's move higher. stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. >>> what to do with the stock of salesforce. let's go to the man himself, fresh off a great quarter, here's mark benioff, the visionary co-founder, chairman, and ceo of salesforce. mr. benioff, welcome back to "mad money." >> jim, good to be here. >> good to have you in person. you put out a number more than 10 billion. we've been waiting for that. it finally happened, and you'

at salesforce, the one issue i never able to take my eye off is privacy. and as a company that is entirely cloud-based we believe trust is our number one value. our model fails if people don't trust us and trust the cloud. i do spend a particular amount of time on privacy issues. this last year has been particularly interesting for privacy and anybody who touches this area. in particular, last fall, when the european court of justice invalidated the safe harbor, that was the model that 90% of u.s. companies use to transfer data in a protected way from europe to the knighted sta -- to the united states. and that invalidated that method overnight. i was very lucky that i have an unbelievable team. they knew the opinion was coming down, and anticipated solutions for a range of different decisions. when the most extreme one came down, we were actually able to publish an amendment to more than 25,000 contracts that substituted in vital clauses and pushed that out within four hours. the able to do that and have people focused on these issues, and constantly look

of privacy lawyers led by lindsay finch at salesforce. they knew the opinion was coming down, and anticipated solutions for a range of different decisions. when the most extreme one came down, we were actually able to publish an amendment to more than 25,000 contracts that substituted in vital clauses and pushed that out within four hours. being able to do that and have people focused on these issues, and constantly looking at them, staying at the front edge was absolutely critical. this is continuing. as many of you know the model , concepts are now under attack. again in europe, we have data privacy issues in russia. china is considering different laws. and so it is something that , every single day, no matter what is on my plate that has to , be front and center. >> thank you. one thing i typically do when i start a program and i did not do this year, i would like a show of hands, how many people are attorneys with outside counsel in their own firms? ok that looks to be about half. , and how many are on the inside working as in-house c

and executive vice president and general counsel and salesforce and salesforce is the fourth largestnterprise software company in the world. we focus on customer relationship management software, crm which is an intersection of how companies work for the customers, whether it's selling to them, marketing, service, analytics, and everything else. it's a very exciting company. we are about 17 years old. i wish i could tell you, i think i was employee 10,002. we now have about 25,000 employees and we're located all over the world. one thing about salesforce that makes the company their unique is that it was founded with the new philanthropic model, and we called it, and we call that 111. that means 1% of our equity, 1% of our employees time and 1% of our products are donated to charitable organizations. this flows through the entire culture of the company. we've also taken some very leading roles in terms of social issues. in the past year those of senator manchin debate equality for women and lgbt legislative actions throughout the country. i can address those later on. in terms of my

the salesforce deck, the documents showed us that salesforce does not want to put into a bid. is not likely to be a second bidder. salesforce won't buy them and them.ng else won't buy they may want to take what they can get here. bob: netsuite could lose more than oracle would in this case. based on that ownership, it will be tough for somebody else in a similar market -- unless someone from the outside comes around, but i don't think that makes long-term sense. i think oracle is the obvious choice. maybe it does not happen now and they delay it a couple of months, or years, but it will eventually probably happen. based on hat ownership relationship. emily: bob o'donnell and cory johnson. it is a big week of earnings. thank you both. now to a story that is trending. new research has found racial discrimination by uber and lyft drivers. a study found drivers canceled rides for men with black sounding men twice as much as other passengers. the research has been published by m.i.t. and stanford university. and the university of washington. the companies say they do not tolerate d

when will it demand it from salesforce, i can't say.ly: is amazon getting a pass from wall street? steve: i think they are, because people believe powerfully enough in the future of earnings. but you can't tell me over the long run that market cap and earnings are divorced. that runs against my market view. emily: we can talk about twitter because you are still an investor. when you announced the stake, it was 4%. do you still own as many shares in twitter as you used to? steve: i think it's fair to say i remain a large investor in twitter. emily: what do you think about what they're going through? steve: i think twitter is an irreproducible asset. i don't think there's any vehicle that let you speak broadly to amass audience better than twitter. could the product be easier to use? of course the product could be easier to use and i think that is an important area. emily: do you see twitter having a future as an independent company? steve: i think twitter would be great as an independent company and i'm sure there are acquisitions that w

when will it demand it from salesforce, i can't say.ly: is amazon getting a pass from wall street? steve: i think they are, because people believe powerfully enough in the future of earnings. but you can't tell me over the long run that market cap and earnings are divorced. that runs against my market view. emily: we can talk about twitter because you are still an investor. when you announced the stake, it was 4%. do you still own as many shares in twitter as you used to? steve: i think it's fair to say i remain a large investor in twitter. emily: what do you think about what they're going through? anve: i think twitter is irreproducible asset. i don't think there's any vehicle that let you speak broadly to amass audience better than twitter. could the product be easier to use? of course the product could be easier to use and i think that is an important area. emily: do you see twitter having a future as an independent company? steve: i think twitter would be great as an independent company and i'm sure there are acquisitions that would

in part three, i asked him about his views on salesforce.ry public friendship with the ceo. but steve balmer said he could never get the math to work. >> it is too expensive. it is a fine company. is it a great company? i don't know. in my opinion, relative to earnings potential, it is dramatically overpriced. emily: do you think they are headed for a disaster? worldview, at some point in time, the market will ask companies to make profits commensurate with their market cap.. amazon does not either. they have great potential. it is a great company. when will be market demand that? i cannot say. when will they demand that from salesforce? i cannot say. emily: is amazon getting a pass from wall street? >> they are because i think people believe powerfully enough in the future of earnings. but you cannot tell me that in the future earnings and market cap are divorced. emily: when you join microsoft, you did not get a single share. is that true? >> that is congregated. i had a profit share. -- that is complicated. i had a profit share. i never h

let's go back to salesforce.hares is were popping after its earnings report came out, was a beat on the bottom line by about three pennies. was a small beat in terms of revenues and looks like their guidance was raised a little bit, too. this company has kind of been through the ringer this year. they had leaked documents about potential takeover targets. it was so back and forth about whether they'd buy twitter or not. and marc benioff said, shareholders will look at it saying, we do need to focus more on the core business. a lot to hear from, from him. >> that's why the stock is down year-to-date. this really lagged some of their cloud peers. but if you look at some of the numbers, the subscription revenue up 24%. that's a little bit better than expected. deferred revenue growth of 23%. that beat the 20% expectation. so underneath the surface, the quarter looks like it was a good one. we'll have to get details about their guidance, but that should be well received, especially for a laggard like salesforce. >> i

at salesforce the one issue though i am never able to take off its privacy. as a company that is entirely cloud-based, we really believe trust is our number one value. our model fails if peopl peoplet trust those entrusted the cloud. so i do spend a particular amount of time on privacy issues. this past year has been particularly interesting for privacy, and anyone who touches this area probably has not gotten a lot of sleep. in particular last fall when the european court of justice invalidated the safe harbor, that was the model that up to 90% of u.s. companies used to transfer the data in a protected way from europe to the united states. u.. >> we were able to publish more than 25,000 that substituted for clauses for safe harbor and sent out against fourhours. being able to do that , people were focused on these issues and consequently working at staying at the front age is absolutely critical and this is continuing. as many of you know, they are under attack and in europe we have data privacy questions. so it's something that every single day, no matter w

term "the tough macro environment" on salesforce's dynamite conference call last night. we didn't hear about negative macro backdrop mentioned when it came to children's place. if you heard macro on nvidia's conference call, let me know. i sure didn't. while it seems like ages ago, i still can recall starkly that you didn't get a lot of macro alibi-ing on the netflix call either because there was nothing to alibi about. in recent years, we've gotten used to the term "macro" that we really never heard before the great recession. in fact, a decade if all-around competitive funk that surrounding the economy, i used to think it was some sort of alibi, that your company had simply failed to execute. something that was always proven right when the competitors in your segment blew away the numbers and didn't have any alleged macro worries at all. now, though, the truth is almost every company does have macro worries, and you know what? there really are only a handful that don't. much competition or its clients or customers are either cautious or thinking of holding back on thei

although the cloud space is ferocious, the fact that salesforce won contracts from dominant names in pretty much every vertical tells me it has fabulous products and amazing execution. very unusual in tech. space in the mall. no matter what anyone, including amazon says, there is only one netflix. oh, and nvidia, it's like the intel of old. it has the chips that work the fastest with the most power and are most elegant for gaming, for machine learning, for artificial intelligence. nvidia has simply outengineered everyone else. now, what does this paucity of non-macro blamers mean? i think it's part and parcel with the election frankly. results that the pollsters didn't catch. the reason why companies blame the macro so much is because the macro is pretty darn subpar. yes, employment's good. yes, there are jobs to be had. yes, wages are going higher. yes, the dow is not far from its all time highs which it made a few days ago. but there simply isn't enough growth to go around for these companies, and people are sick of it, and they blame the politicians. they want less gloom. they wan

we'll talk about gap earnings and earnings from salesforce. lot more post nine right here "squawk on the street." stay with us. ♪ ♪ is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. (bing) and i'm just a guy who wantsants to sell him that truck.ck. so i used truecar. it told me what other people in the area paid for the truck i want. and because we're a truecar certified dealership, i already know the truck he wants. so we're on the same page before he even gets here. -it's fair. -and it's fast. look good? looks great. this is how car buying was always meant to be. this is truecar. ♪ >>> mcdonald's announcing today it's going to roll out its restaurant of the future concept nationwide. in a big shift the company will now offer table service in the u.s. as well as introduce mobile pay and ordering and self-order kiosks in its restaurants. cnbc caught up with mcdonald's ceo steve easterbrook yesterday. take a

onto the board of salesforce and on the border salesforce, he receives some documents about netsuiteompanies that salesforce was considering acquiring. amongst this deck of slides about potential acquisition candidates, colin e-mails showed salesforce is not likely to make a deal because of larry ellison's outside stake. tiaa-crefout after protested the price. they said this actually is not going to get another bid. no one else out there, including salesforce is likely to make an acquisition with larry ellison controlling so much of this company. it might be the best price we receive his company. as a result, deal on the table was a deal they were willing to take. david: what does oracle get in acquiring netsuite? fundamentally, a strong cloud-based enterprise software company that's focused on a lot of the current customers that have been difficult for oracle to acquire in their cloud business. smaller businesses, customers were very agile in making short-term decisions about their software decisions. they seem really beloved by their users. oracle has got that. cory johnsonnie: is

in your show, you mentioned the company salesforce. >> right. >> caller: and interviewed their ceo. >> mark benioff. >> caller: at the tech conference in san francisco. >> right. >> caller: on the potential of didn't happen. >> no. >> caller: what do you recommend i do with salesforce stock? >> i think you take a longer term view as mark benioff takes sales ultimately. i think he can drive it much higher. it's one of a couple companies like adobe and workday and servicenow that actually correctly understand the social, mobile artificial intelligence, virtual reality, cloud world that is kind of taking over the future. all right. can't you see? this is a land of confusion, a ball of confusion. wall street may not like uncertainty, but you? i still think you can take advantage of it by taking a longer term view and picking up high-quality companies at a discount. that's the way the market masters do it. on "mad money," tonight, were you up late watching baseball or maybe football like me? kris bryant, the man who brought the cubbies back from the brink, isn't just the leading candidate

a public friendship with salesforce c.e.o. but ballmer said he could never get the math to work.en. >> it's too expensive. it's a fine company. is it a great company, i don't know. it's a fine company. but in my opinion, relative to earnings potential, it is dramatically overpriced. that's just my opinion. emily: do you think they're headed for a disaster or -- >> i don't any if the company's headed for disaster. in my world view, at some point in time, the market will ask companies to make profits commensurate with their market cap. amazon doesn't either. they have great potential. it's a great company. great company. when will the market demand that? can't say. when will it demand it from salesforce? can't say. emily: is amazon getting a pass from wal street? >> they are. because people i think believe powerfully enough in the future of earnings. but you can't tell me over the long run earnings in market cap are divorced. that's sort of runs fundamental to my basic view in capitalism and the way it works. emily: when you joined microsoft, you didn't get a single share. is that

all the numbers salesforce mentioned are right.ng margins, the street was looking for 11.4%. we can talk about valuation all you want, yes, it's an expensive stock, but this is a company that's operating better. i think it can push through. >> you just truouched on something. the currency is a bigger canary in the coal mine. the market is worried there's lack of organic growth. they're looking for these deals to make up for that. market condition for big growth, they don't have it there, rather go oracle. >> its valuation, growth is not working right now -- sorry, growth is not working over value. this is the ultimate growth stock that's not grown so fast. >> all right, guys. we'll stay in tech land. your next guest really a tech legend. he's got one stock he says is a must-own in the post-trump world. roger mcnamee joins us from san francisco tonight, good to have you back on the show. what is the one stock that you think is a must-own? >> to be clear, i would be very reluctant to put new money into the market right now. i think u

the companies that signed up include salesforce riverbed and duck you sign of the challenge runs through november 18. >>> scientists will take up -- a very close look on what is beneath old faithful and advertisers. the research team from the us will fly over the park in a helicopter. it's equipped with a device that measures changes in magnetism been beneath the ground. researchers want to map the flow of water and steam along yellowstone's geysers. a spokesman says the team hopes to get a better understanding and the infrequent and sometimes deadly hydrothermal explosions that happened when a geyser essentially blows up. >>> i've seen some of those. it's very corporate >> 4:46 am. >> some technical difficulties can expect here we are. sal just woke up also. i'm actually awake now. >> you look a little -- your out of sorts when you're out of your spot. >> happy monday. i'm saying that. let's get going and get after it. good morning everyone must go to the tracy commute and you can see traffic is already getting busy. people are out there with smiles on their faces driving through the sl

he says twitter is looking for a buyer and cleaning up their troll issue could help google, salesforce, and disney are just a handful of companies that considered them but then passed. sot - dan galagher - wsj "disney is a such a family biz and very mindful of its image that must have weighed on their minds for sure" with these tools twitter users will gain more control and be able to mute users, notifications, conversations, even mute specific words or hash=tags when you mute something the idea is you won't see that again we will have to wait and see how well the feature actually works. this new tool will be rolled out to users in a few days. i got a sneak peak. they turned it on for me. it's easy to activate this mute feature you go into your settings and then look for the "muted words" tab. in there you type out what you want to mute whatever it is a word a hashtag that's it. and you can unmute anytime. i asked dan if he thought this move would fix the troll issue and solve twitter's problems. sot - dan g apple is selling you a 3- hundred dollar photo book about itself. "designed by

representatives from "salesforce" will be at today's kickoff event at the food bank warehouse on pennsylvania avenue. >>> time now 4:40. still ahead, a headlight experiment. only on "5" we are putting them to the test. we'll show you which cars passed the test after the break. ,,,,,,,,,,,,,,,, eople are left i >>> one of the most bizarre things i have ever seen in my life. >> it is bizarre. a lot of people are left in the dark in las vegas. the paris hotel and casino completely lost power yesterday. authorities say a contractor working in the facility's basement accidentally cut into the main power line. nearly 3,000 guests and employees evacuated. no word when the power will be restored. >>> with the end of daylight saving time this weekend, headlights will be on earlier. our experiment shows many cars do a poor job of lighting up the road. only on "5," sharon chin shows us the ones in the test. >>> reporter: what do you look for in a new car? >> gas mileage. >> airbags. >> how about headlights? >> good if they have them. >> no, i don't look at the headlights. >> i didn't give it much though

. >> salesforce up 5%. >>> marvell technologies third quarter results beating analyst forecasts on third quarter growth. the company launching a $1 billion stock buyback. >>> gap's third quarter profit fell 18%. the retailer posted its seventh straight quarter of declining sales. the company says it is still struggling to bring shoppers into stores. they plan to close 64 shops this year. >>> more stocks to watch. yum brands adding $2 billion to its stock buyback program which will run through the end of next year. >>> williams-sonoma reporting lackluster sales in the third quarter and the retailer is giving a downbeat forecast for the fourth quarter. the chain continues to face weakness at pottery barn. same-store sales falling 4% in the fourth quarter. shares down 3% before trade opens. ross store's third quarter profit rising 13% beating forecasts. the retailer benefitting from strong revenue and margin growth. the company raising its full-year guidance, comp sale there's were strong, up 7%. analysts looking for an increase of 2.5%. >>> nike's board announcing a dividend increase. the

i feel it is important to make sure we have a diverse message in our legal group. >> salesforce, as i mentioned earlier, i am very lucky to work for a company that has been very dedicated to central issues. this last year we really took on gender pay equality. it was probably one of the first companies, if not the first, to publicly commit to repealing salaries of 17,000 employees and looking for discrepancies. admired is thely main that commitment not knowing what we were going to find, and committed to fixing that. after undertaking the survey, we did find that we had to make adjustments for both men and women. we committed about $3 million to trying to repair the situation. something we have committed to doing on an ongoing basis. this is not something you can do just once and forget about it. you have to continually be reviewing that. i think it is really important for whether you are at a law firm, or you are in-house, there has to be a commitment from the very top to racial diversity, to gender diversity, and to diversity and personalities and other ways. i can't be something th

no companies like salesforce whose internal communications were made public as part of the colin powellks. what have the lessons been in this election cycle? treating we have learned something that future candidates or companies today can learn from? candidate orer a company, they all face similar threats. most organizations have been compromised in some fashion. that theo is technologies that are put in place to try to defend against these hacks are inadequate. malware, our technologies can't keep up. then, having the ability to find them very quickly before the data is stolen will be very important moving forward. it is easy to get in with a and all the data is being dumped because it is not encrypted. brad: a spear fish is basically user error. george: they clicked on a link and either give out a username and password or downloaded some malware that wasn't captured by their legacy antivirus technology. brad: do you think all these traumas, going back to the sony, have undermined our use of e-mail? our candidates and ceos thinking twice before clicking to hit the send button? guessing

salesforce reported earnings in their results topped forecasts.ompany also gave an upbeat outlook for the fourth quarter. lifted by software contracts with larger clients. marc benioff is pushing investment into a broad range of services from marketing to artificial intelligence. still to come, silicon valley tries to make peace with the incoming president after early hints they will clash on key issues. what they want from president-elect trump next. ♪ emily: verizon cutting 500 jobs, 8% of the workforce. tim armstrong told employees the company has added 1500 staffers and needs to consolidate to improve operation. he also says that aol will add more jobs in areas driving growth. verizon bought aol last year. the internet association making peace with president-elect donald trump. this is the group representing 40 of the biggest internet companies in the world, including facebook and netflix. silicon valley largely opposed trump's candidacy and found itself on the opposite side of the agenda but in a letter addressed to the administration, they a

salesforce shares rose the most in a month.are contracts with larger clients and reason i pledge edition benefits -- recent acquisition benefits in the second quarter. announcing a buyback and earnings that beat analysts estimates. crowdfunding platform indiegogo is stepping into the equities space. it teamed up with micro ventures to launch a crowdfunding portal. the new site will give entrepreneurs the option of offering investors an equity stake in their projects. for more, slava rubin joins us from new york. what does this mean? does this mean anybody can get an equity stake in a startup they back on indiegogo? slava: exactly right. we launched in january, 2008 and we are entering equity crowdfunding. when we came up with the idea, we wanted to do equity crowdfunding right away, but we learned about the rules that stopped us. today we are able to launch something that changes that. everybody in america who is of legal age can now invest in a company and get the financial returns. emily: indiegogo was made possible in part b

not only hillary clinton's e-mails made public, but companies like salesforce whose internal communicationsade public as part of the colin powell hack. what have the lessons been of this election cycle? do you think that we have learned something that future candidates are companies today can take a lesson from? george: you need to take a look at whether it is a candidate or company. they all face similar threats. most organizations have been compromised in some fashion. it is important to understand if there has been a compromise in the environment. number two is that the technologies that are put in place to try to defend against these attacks are inadequate. it is very easy to get in. technologies can't keep up. then, having the ability to find them very quickly before the data is stolen will be very important going forward. it is easy to get in with a spear fish and all the data is being dumped because it is not encrypted. there are many lessons learned. brad: a spear fish is basically user error. it is somebody clicking on a link. george: they clicked on a link and either gave out a us

>> readthrough better get a new salesforce. whoa. that was not a good quarter.time remember they screwed up in february. now linkedin screwed up that same day and got a bid for microsoft. i don't see a savior for the bid. tableau, please fix your website when you go to your ad about a company that involves recipes. the player isn't working. it's kind of hard. >> what's on mad tonight? >> okay. we have a company that actually said that macro concerns were bothersome. clorox. benno dorer is a great executive. stock is down, and i find it similar what people say macro concerns when it comes to clorox, but this has been a continual theme. these stocks the consumer staples have had macro issues. there are a lot of other things clorox does, i think the world's going to use ultimate floor, that's what i use, actually dupont makes a lot of this stuff. do you know what ultimate floor is? >> no. ultimate floor? >> you got to spend a day with me get up at 3:45. >> are we going shopping or help you clean? >> there therebywill be a three- >> last night was my wife's birthday

"salesforce" and ross are higher in the early going. >> jason brooks from kcbs radio. thank you, jason. >>> time for a look at what's coming up later on "cbs this morning." gayle king joins us now from new york. good morning, gayle. >> reporter: i have it right here. hey, michelle. we're going to take a closer look at the president-elect's choice for national security adviser lieutenant general michael flynn. plus, from the world's most famous kiss you remember that to the first photo taken with a cell phone bet you don't know about that one "time" magazine shares the 100 mostly in shall photos of all time -- influential photos of all time. we continue our series a more perfect union how a question in a grocery store led to a friendship between a child and old man. >> i cannot stress enough how great this story s story is. you'll love it. >> very special. >> it's very, very special. >>> new york city police departments and secret service expected to announce a permanent plan to secure trump tower today. right now, new york's iconic fifth avenue is packed with barricade

by the way, home depot, home depot has credited salesforce with doing remarkable work in terms of knowingthe consumer wants. why is the stock down? a lot of people were saying there was a one-off gain from the hurricane, the storm. but you know what, i think you've got to think a little longer term. i don't think home depot is anything other than a fabulous long-term story. not unlike disney, which we never talked about, another one that was long term. >> we can talk disney in a minute but let's turn our attention to technology for a second. shares of apple, for example, have gotten beaten up. they're up today for the first time i've seen for a while and i don't track these things quite as closely as some of our colleagues. but facebook is up, google is up, or i should say alphabet. amazon is up. some names up for the first time in a while that since the election have been down while the broader market of course has been very strong and the banks, our conversation a moment ago, were very strong. drug stocks, pharmaceutical companies very strong. technology, though, has really been getting

we had originally reported on salesforce and microsoft talks, god, sometimes i forget, but apparentlyhey had resumed again, according to this report, i think it was in "new york times," but then didn't get anywhere again. >> it's gotten very ugly in that group. and i did -- i had felt there was great comity between marc benioff and nadella and in the end it was kind of like marc said due to twitter, my good friend jack dorsey. i felt like that suddenly sacha had been raised to that good friend category. maybe marc watches a little bit too much of us and makes those recognizes that there's facetiousness involved in being a good friend. >> jim, really quick. a lot up, but kansas city southern up 5%. >> okay. so close -- actually, a little more than 50% of their business is with mexico. about 5 3% after last year. the line runs next to my house in mexico, just filled with cars. raw materials coming down, cars going up. and nafta is the reason why ksu does so well. so this is a nafta referendum and ksu will live to play again. now, they're the single biggest loser of any american company

representatives from "salesforce" will be at today's kickoff event at the food bank warehouse on pennsylvania avenue. >>> the italian company that makes nutella is pushing hard to prove that the product is not dessert. ill wagner of cbsmoneywatch.com has this story and more. good morning. >> reporter: good morning. stocks are in the longest losing streak since 2008 down the 8th day dow down 29 yesterday, nasdaq down 47. it's jobs and wall street. the labor department said the u.s. economy added 161,000 jobs in october, less than expected. the unemployment rate went down slightly to 4.9%. we'll see if this has any impact on whether the federal reserve raises interest rates. >>> trading in shares of takata were halted this morning since they may go bankrupt in the u.s. the exploding airbags scandal resulted in the largest auto recall in u.s. history. and a dietary debate over nutella. the italian company wants the fda to reclassify it as a spread like honey or jam and not dessert topping. that would cut the serving size and calories and fat listed on the label in half. so there's a lot in a nam

salesforce does well regardless of the economy, and money managers want more than that these days. they want mojo. they want the stocks of companies that surf the wave of new growth that trump is supposed to spur. finally on friday we get earnings from foot locker. you get a dip any day, any point in any one of these days this week, foot locker is the one. any dip, and you buy it. let me give you the new bottom line in the new regime. it's a brave new world, and we're going to play it exactly this way until trump tells us otherwise. maybe he'll tweet sell those stocks. who knows? yes, it's a trump stage, and all the stocks are merely players in this drama. a drama that brought the old line dow jones average up 5% in five days' time. oh, what a week it truly was. let's go to bud in ohio, bud. >> caller: booyah, skee-daddy. >> whoa, man, coming right at you. >> caller: this is your longtime fan bud in beautiful akron, hor, wanting to once again thank you for all you do for us and especially for that amazing and inspirational veterans day show yesterday. that was awesome. >> thank you

what i cant find and found correspondence is the dewatering records for the building of the salesforce tower at transbay. what i have been able to find is a series of e-mails that indicate that the monthly reports have not been forthcoming for some 15 months. i see e-mails from brian coon to the contractor saying that they meter broken and going on for a long time. i don't think mr. brigser are you in a position to answer this? do you know anything about that? >> i am looking at the same corresponds nss. as far as i know we don't have it data but requested it. >> but as the permitting agency, when i read the permitatize says if you don't get what you want you can cancel the permit. dbi has certain rights. given that all this is happening right now in the real-time and building is continuing to sink you think that somebody somewhere in this government other than a member of the legislative branch of government or supervisor breed and i have the ability to ask you lots of questions, we don't have the ability to tell you what to do, but somebody needs to get this thing under control. ther

when will it demanded of salesforce? can't say.mily: is -- are they getting a pass from wall street? i think so. it cannot tell me over the long run earnings and market cap are divorced, that runs fundamental to my basic view in capitalism and the way it works. scarlet: you can watch that interview this sunday. at noon eastern, 9 a.m. pacific. time now for the bloomberg is this flash when we look at some of the biggest tories in the news now. like lewis is proposed to the merger between tesla motors and solar city. a lackpany -- group face of independent oversight and described the deal is a high risk noncore acquisition. in contrast to a recommendation earlier from institutional shareholder services which said shareholders of both should vote in favor of the proposed deal. see -- the ceo of cbs said he is optimistic a deal could work if structured correctly. the broadcaster is in the early stages of exploring a deal after reporting better-than-expected quarterly sales and profits. both are controlled by senator redstone and his da

and salesforce third quarter -- and deutsche profit surged to 350 million euros. profit forecasts for this fiscal year. operating profit will drop for march. improvement on the company's forecast in august. toyota has been provided with some resespite. guy? guy: we have live pictures for you. secretary clinton arrives in westchester, new york north of manhattan. down, after how many years we have been doing this for, we are finally here on voting day. decision day, in the next 24 hours. guy: i suspect she will be happy if she never sees that plane again. jon: the polls have tighten over the next month or so. we had a scandal a month or so of the with the lewd comments for donald trump. it looked like the spread was widening, and then it tightened as the fbi reopened the case against hillary clinton. it has been a really volatile month. i don't think anybody has seen a presidential election quite like this ever, mabye? guy: and i think the divisiveness of the campaign is something america will have to deal with after this. this is as polarizing as it has ever been.

>> we've had a salesforce for a long time that has helped customers adopt.e seeing is of course in the large enterprise or developer will bring a sin, but often times you need a salesperson to close that. what is interesting is this isn't your typical heavyweight with lots of golf and shenanigan. it's not that kind of traditional enterprise. it is a relatively light touch developer led approach. when the developer delivers the prototype and then they show it off internally and say i've been playing around with ideas, let me show you in the business has well that's great, let's put it in front of customers, and i've got some compliance or security conversations to have. and said it had been let me walk in with early sales collateral is all i have to tell you about. put me up against five other competitors who will all do our responses on this whole thing you're the one where the developers already built the thing and show that it works, that is the lowest risk of at least friction in our sales team is there to help the developer in many cases navigate their o

what i cant find and found correspondence is the dewatering records for the building of the salesforce tower at transbay. what i have been able to find is a series of e-mails that indicate that the monthly reports have not been forthcoming for some 15 months. i see e-mails from brian coon to the contractor saying that they meter broken and going on for a long time. i don't think mr. brigser are you in a position to answer this? do you know anything about that? >> i am looking at the same corresponds nss. as far as i know we don't have it data but requested it. >> but as the permitting agency, when i read the permitatize says if you don't get what you want you can cancel the permit. dbi has certain rights. given that all this is happening right now in the real-time and building is continuing to sink you think that somebody somewhere in this government other than a member of the legislative branch of government or supervisor breed and i have the ability to ask you lots of questions, we don't have the ability to tell you what to do, but somebody needs to get this thing under control. ther

of the magic theatre and the 950 market project i'm evan a three year san franciscan i work for salesforce as a solution developer and a trustee of magic clerk erica major college when i was a troubled youth not hellos e realizing how good i had it theatre was my family i support the lives role in the 950 market magic because of commitment to tackling deeply relevant challenging efforts to effect change our deep relationship with laney correctly is an example of larger commitment and magic lab is the extension of that program the allow us to embrace the tenderloin and the young people that participate like the wonderful young people will find their voices and part of our magic family i look forward to embracing them thank you. >> thank you. >> next speaker, please. >> good afternoon, commissioners my name is bruce i've been working in the construction industry for over thirty years and lucky to work in san francisco exclusively associated with vefr over 5 thousand housing i'm here to speak on behalf of 950 clearly it is fantastic for the construction community and will create over 14 hundr

towards with you so on the lends left-hand side it parcel f is in the process of being designed the salesforce is in the rear and oceanside that sets a place of 5 hundred feet with 8 hundred plus thousand foot towers that concludes my presentation. i'm here for questions thank you very much. >> opening up for public comment (calling names) sonya. >> hi i live on natoma this is in my neighborhoods i'm excited about that beautiful building more were there no housing i noticed it is outside of your purview but enthusiastic about the bridge to the park he heard the trends is giving the developer a hard time and making him pay a fee that's ridiculous everyone know the successful park has any entrances and exits especially with an slated parks i'm worried about an elevated park the more valuable that will be so for the public it will be good to have the bridge thank you. >> thank you. >> good afternoon corey smith appreciate to speak we reviewed the project in the middle of september we endorsed the project i think that is highlighted in the previous presentation given the location and the lot size