this was a doozy, starwood hotels, symbol hot. we had come to love the work of the former ceo fritz van paasschen and thought he had tremendous operating skills that allowed him to turn this domestic chain into a worldwide powerhouse. what we didn't know is fritz had a restive shareholder base that was unhappy with his progress even if we thought the world of him. the stock fell, and we were totally mystified why anyone would find fault with his long-term track record. not long after, starwood stock took off on a takeover rumor involving a chinese hotel chain. it vaulted from the 60s to the 80s where we managed to sell some, which is always a smart move given how often we get phony takeover bids, particularly out of china. but then starwood dropped back to the mid-60s where we got a very hard-to-value takeover bid from marriott that failed to generate much support, and the stock actually fell on the news and stayed low. in fact, it kept going lower as it reacted to the faltering the decline in the acquirer's stock. starwood was on

barry sternlicht, the founder and ceo of starwood p. live from the robin hood investors conference. vonnie: thanks for bringing us that. atnot miss another interview 3:45 eastern, 8:45 london time. breaking news, president-elect donald trump and vice president-elect mike pence are meeting with the goldman sachs coo. they're looking for treasury. it is unclear if he is a candidate. others mentioned in relation to the position include former bb&t ceo. , andhile, politico reports jennifer jacobs has mentioned, alain cow has been named transportation secretary. she is the wife of mitch mcconnell. for treasury secretary, chao -- transportation secretary. vonnie: i am vonnie quinn and this is "bloomberg markets." am nejraom london, i cehic. the south african rand leading declines against the dollar as the ruling party said the national executive committee does not support calls for .resident jacob zuma to quit joining us with the latest is our south african economics reporter. give us the latest. we had a press conference an hour ago. indeed.

we believed in the synergy between marriott and starwood. we simply had to stop caring we had missed out on higher prices and when now stuck with what seemed like a -- first we could have bought more as starwood fell, which if we truly believed in it as we said we did at the time would have been a terrific idea. or we could have bailed after we got the takeover news. we didn't do it. or we could have just held star wood and stayed patient. we didn't do any of those things. we got disgusted, took our bat and ball and went home. don't act on emotion. don't go against your homework. if you think that a stock deserves to go higher, then why don't you wait? no one's looking. you can afford to be patient. don't give up on your best ideas before they have time to pan out. eric in texas, eric. >> caller: hey, mr. cramer, a big san an towio booyah, to you sir. i have 50 stocks in my portfolio, and they're all dividend payers. they kneeled about less than 2.25%. other than the payout ratio and retained earnings on the balance sheet, can you tell me wh

start bringing together and closer not only states but also the united cuba has allowed air b-n-b, starwood hotels and ten u-s airlines to set up operations. thanksgiving is just a few weeks away-- and if you need help-- the butterball turkey talk line is now open and ready to take your call. and for the first time ever... during the week heading into thanksgiving, you will be able to text your cooking questions 24-seven. you can call the talk line at 1-800-butteball-- now through christmas eve. butterball says the talk-line has helped almost 50 million people since in 19- as veteran's day approaches, walmart is again launching it's "greenlight a vet" campaign. "greenlight a vet" encourages people to switch one light bulb at home to a green one to show visible suport for vets. you're asked to switch that bulb today.. and keep it glowing through veterans day on the 11-th. still ahead - we'll get a look at the markets this afternoon... and -- christmas fantasy house. where you can tour this spectacularly decorated home in lake charity that will benefit and... need and... need help with a cons

resorts like marriott and starwood are offering discounts. there are commercial account -- flights to havana. american will have a one hour flight from miami to havana. other airlines like united and jet blue will fly to and from havana from various cities in the united states. disney was box office this weekend. they could not melt frozen's record from the thanksgiving weekend.>>> jill, thank you for that. >>> tonight is a special ceremony for colorado springs officer that was killed in the tonight at 7:30. the shooting was one year ago today on a cold and snowy day. three people died. they were jennifer markovsky , ke'arre stewart and officer garrett swasey. karen miller with pro-choice colorado says the shooter, robert dear, is competent to stand trial.>> he collected propane and that are premeditated. so, i think he knew what he was doing and there is concern and i think he should be standing trial.>> reporter: he was once again found not competent for standing trial.>>> it is chilly and 35 outside. there is controversy again about a trea

hours were changed at great more than in belden village in camden and also all -- owned by starwood retail. department stores had the option to stay on -- stay open all night. only 23% of consumers will shop in stores today. that is down from 28% in 2014. analysts say it is due to retailers offering good decal -- good discounts before black friday anther on december. shopping online might be the best option. the door buster on black friday we found it online for the same price. pequot -- we spotted several other deals like that. we will show you what to look for and what to look out for while you are shopping online or in the stores. live in strongsville, newschannel 5 be sure to check out our black friday section on our news 5 at. >>> some sad news to along. florence henderson died at 82 years old. the legendary actress best known for her role as carol brady on the sitcom, body -- brady bunch. >> [ singing ] i want to be loved by you. >> they said that she did last night with her family by her bedside. she was admitted to the hospital on wednesday. she competed with dancing in the stars -

vacation, cyber monday could be the day to do at several hotel and resort chains like marriott, starwood, they are offering a deep online sales. some with up to 50% off of a room. th if you have not checked or powerball tickets, the odds are you did not win of the huge $421 million jackpot for someone day. a single ticket sold in tennessee won the entire thing. the winner has not come forward yet. a lucky person there. the jackpot has been growing since the last time that there was a winner, back in september. this morning it is back down to a paltry $40 million. let's get a check of the >> only $40 million. >> [ laughter ] >> that is pocket change. it is not even worth it. >>> a beautiful morning outside, all sunshine, incredible, a great sunrise and if you got to see that does you can take a look at this. there are several looks across the tampa bay area, tampa, st. peters, lakewood, wesley chapel, all looking phenomenal and i'm sure it is great where you are. the cold front to the front to the south, you can look at that south, and southeast of miami, rain and even lightning this morn

like marriott and starwood.// and u.s. airlines will launch regularly scheduled commercial flights to havana today... as cubans observe nine days of mourning for fidel castro. american airlines will n havana. united, jetblue, delta, spirit, frontier, alaska, and southwest will start offering havana flights from different u.s. airports in the coming weeks.// brian and kirsten? ((brian loftus)) >> and jill -- we just wrapped up the big thankgiving shopping weekend... what are the numbers? a; more people shopped over the thanksgiving weekend... but they spent less money--- that's mostly because retailers offered deeper discounts. americans spent about 289 dollars on average... ten dollars less than last >>> directions, between craig and speedway. it's all for the state's i-15 north widening project. work will take place from 9pm to 5am sunday through thursday night today through december 9. the state says this project will widen a 5-mile strech of highway from four to six travel lanes. crews will also widen and four overpass

they are looking to double the number of hotels in the region .y 2020 completed its acquisition of starwoodber. qualcomm fell after sales forecasts were in line with estimates. the company is expecting a revenue of 5.7. analysts see it somewhere in the middle of that range. results reported strong in the fourth quarter. >> emirates nbd has released the latest report on the emirates, saudi arabia, and egypt. uae. start with the we are looking at a six-month low. is rising.rate talk me through the numbers. >> the external side of the economy is suffering a little bit. external demand is under pressure. this is not surprising. seeing is a slower pace of growth and that is matched in saudi arabia. at the star, there was a pronounced dip in activity in the third quarter. what we are seeing is a slower pace of growth again as a consequence of a lot of the measures taken to ameliorate the weakness in oil prices. >> these are record lows. the lowest rating on new orders. is this a scenario which gets worse yet go the deceleration is prevalent. >> there will be in packs into other parts of the regio

. $14company completed is billion acquisition of starwood.reet journal claiming valeant is looking to sell assets worth around $2.5 billion. sources telling us that valeant was in talks to offload its salix drug business. next, china may step in to interpret a key law when it comes to hong kong's legislative council. the details are just ahead. this is bloomberg. ♪ haidi: a hong kong court is due to hear a case in the dispute between the territories government and two independence politicians. rishaad: they asked the court to remove two local lawmakers who protested against chinese influence when they took their of that the legislative council. we are at the high court here in hong kong. this has been a controversial move. rosalind: that's right. court -- they moved to oust them. there have been reports that used could use a rarely power to interpret hong kong's basic law, and that has caused rumblings in hong kong about the possibility of increased influence in hong kong affairs. the move would preempt the courts and decide the case for hong

including marriott and starwood... as well as smaller stand alone properties... are also offering steep cyber sales - some with up to 50-percent off room rates. 3 anchor reaction time... 3 still ahead...could a glass of wine a day keep the doctor away?well a new study suggests that could be the case.details ahead. 3 3 a live look over.....on the would you say no to a lot more money? [excited scream] you just won a million dollars! no thanks. nice balloons, though! or no to more vacation days? janet, i'm giving you an extra week's vacation! oh, ah... nooo. what? no way. who says no to more? time warner cable's all about giving you more. like the most free hd channels and virtually unlimited movies call now. and don't forget the free tv app. get ultra-fast internet with secure home wifi to connect all your devices. saving on mobile data fees, helps big time. switch to time warner cable. for $89.99 a month you'll get free hd channels, 30 meg internet and unlimited calling to half the world. we can call aunt rose as much as we want now. switching is easy. get our exc

the mall says sales were limited overnight prompting the starwood retail, those malls open it 6 am too. department stores had the option to stay open all night. new reports by the personal finance website, bank rate, finds it only 23% of consumers will shop in stores today. that is down from 28% in 2014. is to to retailers offering good details -- good rebates before black friday. big crowds. they like it. we will tell you what to watch out for fewer shopping in-store or online.>>> we're looking forward to that, sarah. before you break the not so brave crowds at the stores, check out our black friday section. that is where you can find all of the apps from the major retailers. >>> we have sad news to pass along. we've learned the florence old. the legendary actress best known for her role as carol brady on the abc sitcom, the brady bunch.>>> -- >> i want to be loved by you. [ singing ] >> she died last night at a hospital in los angeles. her family right at the bedside. she was admitted to the hospital on wednesday. she had suffered heart failure. she was just dancing with the stars a

village in canton also owned by starwood retails. those malls opened at 6 am too. the department stores have the option to stay open all night. a new report by the personal finance said only 23% of consumers will shot today. that is down from 20 that is down from 2014. it is due to retailers offering good details -- good deals on retail before black friday. you got here at 6 am this morning. hausa been looking so far? i things up and steady. we have had a few people stop by already this morning. i think that things are going to be positive today. >> positive hero black friday. a great morning to get out of the rain and come inside to southpark mall. we are going to keep walking around and showing you southpark, showing you the sights and sounds of black friday here in strongsville. back to you. >>> thank you so much, sarah. ride in the escalators, have >>> if you plan to head out today in shop, you can find apps from all of those major retailers. >>> some sad news. florence henderson's died at 82 years old. the legendary actress best known for her role as carol bra

. >> brown: to the the extent things are happening -- the case of starwood who tells own by marriottken a deal with the cuban government to take over a government-run hotel, should we roll back those kind of things? >> that's something owned and operated by the cuban military, so any company that wants tone gauge in financial commercial exchanges with the military is taking a very big risk. but i think the purpose of president obama's cuban policy was not to enrich the cuban military or security apparatuses of the country. it was to improve the economic conditions and political conditions for the cuban people. that's exactly what the senator just said. two years later we're recognizing the only people benefiting is the dictatorship. there is no such thing as dictator-down economics. the people are not benefiting. >> brown: right but the senator said this all happened after many, many years of a policy that wasn't working. that was the argument for reengagement. >> well, i think that's false. the policy -- we can't say the policy didn't work. the policy was not meant for regime change

as a businessman of the president who sees starwood hotels establishing in cuba, the airlines, you canort of miami and get on a cruise ship. what do you believe donald trump will do, even though he gave ace statement where he stands in solidarity with the cuban americans and also with those in cuba who he says do not have full rights that you would expect human rights to be there. >> given the history with cuba, i believe donald trump will bring progress and prosperity towards cuba. i do hope that will happen. we as a people in cuba, we need that. they all need that to live and prosper for that country. it's the end of a long era. all we can do is hope and pray that donald trump will bring that. >> reporter: we're about to get run over. let's move over here. i can see folks are bringing the cuban flag as they come down the street. an interesting perspective. expectations but no solid indication, of course, what president-elect trump will do. only a statement of support thus far. again, he ran as the businessman not the politician. we hear them chanting in the background. >> we all have

starwood has a contract to manage three government-owned hotels.one appears to be available on their website. carnival's had some cruise lines here. airbnb and booking.com. u.s. visitors can now book rooms to stay here. there are three banks that are providing mastercards that will work here. if you have a mastercard, that does not mean it will work here. it must be issued from one of the three banks -- stonegate, natbank or bank du popular of puerto rico. travel arrangements, although it will be expensive, most cell phones will work here. doesn't necessarily help cubans, but it helps american visitors. i said involved here. google is here. according to my reporting, google has never confirmed this, but my reporting indicates that google offered to wire this island for free, 100%. the cuban government has turned them down, limited them to a very small spot where they are allowed to offer free high-speed internet access to students. it's on the outskirts of havana. there are literally chickens running through the yard in that location. that's the ki

third quarter profits hurt by costs linked to a merger related to its $13 billion acquisition of starwoodon and westin hotels. marriott expects fourth quarter earnings between 80 cents and 85 cents, below the 87-cent estimate. shares up about 3%, though, year-to-date. moving on to online travel website price line, shares surging. third quarter results beat driven by higher hotel bookings. fourth quarter earnings, the company said it will scale back expansion plans for its open table dining service. this leads to a $941 million write down. the rumor, price line paid $2.6 billion for open table in 2014. price line named the head of its business, brent keller as permanent ceo. shares up more than 5% after hours. lastly, melissa, i want to draw your attention to shares of hertz, falling in extended trade, down more than 20% on weak earnings and dividance and now sees 2016 adjusted earnings per share between 51 to 88 ke s cents. again, a big mover here in extended trade, melissa. >> thank you very much, seema mody. that is a massive decline in shares of hertz. the rise of uber, loyft. >> you a

she is from starwood. makes me wonder how disintegration has gone so far?seamless in some ways, and in some ways, she makes it sound complicated. she was the perfect person to talk to because of her extensive background in both companies. she and everyone else is so excited about the opportunities. they have been working very fluidly as a team and it has been great. but they have very different systems. the infrastructure is completely different. finding a way to untangling those systems has been a challenge. that is what a loyalty program is taking a long time and why every bit of news is so separate from the last. david: give us an update on a loyalty program. they have is piecemeal, temporary decision to keep the program consistent. >> that will happen at some point. but the current two programs will stay in place through 2018. you got time. you can currently use your points in either program. that is easy to do. i got some clues from my personal friends. it seems like design hotels is a wonderful collection of independent hotels. only half are available

starwood. these guys look around what will we name the hedge fund? starwood? no. no.- >> isn't it part of a ship? >> starboard. starboard. >> it pronounced -- >> i tonight know. >> they usually talk to faber, don't they? the activists? >>> google earth is getting the virtual reality treatment. the company's new app lets you stand in the middle of outer space or fly over the eiffel tower. users point and click with controllers to travel through 3-d renderings of world cities, landmarks and natural wonders. you can download google earth for free in the steam vr store. >>> it is on the side of a ship or aircraft, on the right. starboard. that's how it is pronounced. >> starboard. is that the other -- >> i have to read. >>> spacex is requesting government approval to operate an extensive satellite network that would provide high speed global network coverage. the proposal -- >> port. >> a digital communications array of 4500 satellites. the network would we begin with the launch of 800 satellites to expand internet access in the united states. elon musk said the project w

i am thinking of the merger between marriott and starwood. how will that impact you?y focus on a different segment of the markets. we are owner operator, so we build oh tells that are -- hotel that will last a long time. that is how we got to 150 years. within that, we have stayed small and focused. we only have 10 level hotels with three new projects under development. we are focusing really on the investment and maintaining quality. in terms of, because you are so careful about where you are expanding, what are the new markets you are looking at? you look very carefully at a new market. only theyeah, not choice of market but finding truly exceptional locations. if you look at locations around the world, they are not only in prime locations but quite exceptional locations. the new project under development is in london, where we are at the bottom of hyde corner, istanbul, the bottom overlooking the oh tower, and young god in myanmar. pretty exotic locations for the high-end. shery mentioned this earlier, but i am interested in currency fluctuations and how that might

starwood is managing three government-owned hotels. we don't know the finances of that deal.re they paying the government, or is the government paying them? carnival has been here with some cruises. and now american's use with american credit card on airbnb and speaking of credit cards despite the much he recallralde announcement, mastercard made that happen however mastercard does not issue credit cards. banks do. if you want a credit card that works here you must have a credit card from either stone gate bank in florida, stonegate bank or banco popular. not allowing customers to use here. there are roaming agreements. if you have u.s. carrier, verizon, at&t, sprint, t-mobile, it will ring here. i have to tell you that is quite a relief. and you can make direct phone calls now because of a company called idt. fed ex is flying a turbo prop and nespresso from the united states is putting out pods with coffee made here. here is what you should note about every one of those deals, they're not deals like we think of them. there are no investments here in cuba. these are deals tha

special coverage on the robin hood conference later, including with the starwood capital group ceo.is bloomberg. ♪ emma: this is "bloomberg daybreak." coming up, details for men partner at case capital, live from the robin hood conference at 3:45 p.m. eastern. alix: breaking news today, the african national congress secretary general is speaking in johannesburg and confirmed the south africa's president was asked to step down at the national executive committee but did not support the call. we are seeing the market react, the dollar range bound when it comes to the ren. they ran is getting hit, secession those off by about 2.2% versus the dollar on that. calls for zuma to assign a closed matters and the rand had rallied and seems to be reversing today. david: the real world version of "the apprentice" taking place at trump tower as having selections continue when retired david petraeus met with donald trump yesterday. here is what the meeting. about oneith them for hour. he basically walked us around the world. showed a great grasp of the challenges that are out there and some of th

they tried to buy starwood. in the end it didn't work out. curious from that and other deals you have been around, what has interested the chinese in these u.s. assets? there have been so many outbound deals. market the united states has been and remains a consistent growth model. it is a great place for any economy as large as china's to diversify their interests. i think often they view the a way of growing their bung audience. jeff: there has been some pushback and concern from lawmakers and bankers, saying we ought to slow down our activity into the u.s. with this new administration. what is your view? do you think that is the right advice for your clients? eileen: i don't think it is ever quite that easy. dependentys -- there are always more regulatory issues paved by u.s. domesticthen deals and that has always been the case. they're obviously is more focus on it right now. if a deal is particularly important to a client, if it is not in a particularly national industry -- i don't think we have seen anything that makes it clear with the

the dollar surges, and our special guest, starwood capital's, barry sternlicht. >>> the chief of staffrategist. what is next? we will ask the man that helped lead george w. bush's transition. >> and the super moon, as the final hour of "squawk box" starts right now. ♪ ♪ >> welcome back to "squawk box" here on cnbc. i am getting old. i am joe koerner, and we have barry sternlicht. what is the starboard? >> star wood. >> it's all about star wood. >> the futures in morning, they have been all over the place, and back up 45. they were up 100 and then up 10. >> and down at one point. >> yeah, and the nasdaq continues to go down. the nasdaq has been weird, because it is supposed to be cyclical. that's a little weird. you would think maybe the nasdaq stocks -- >> yeah, and what is the excuse for apple that only trades like 12 times? >> because they make a lot of stuff from china, obviously. >> i am thinking of the interest rate. >> and they can bring the money back. >> and the dollar after all of this, the dollar has been strengthening. we will see what finally happens. the higher court in th

. >> starwood corporation is doing management of hotels in havana. u.s.t is in it for us? we have commercial flights to cuba. so what? >> it is all about the cuban people. the cuban people have suffered under the castro government, under the embargo. stuart: but we don't have any freedom. >> exactly that needs to change. it needs to change. the embargo is way of change for 50 years. it proved ineffective. castro stayed in power until his death even though he given presidency to his brother. there is still a castro in power. the embargo hasn't worked. we believe at "cigar afficionado" that it is time for change. stuart: do you think it worked for curb ban people? >> it is starting to change. cuba is full of americans. stuart: we couldn't have gotten more out of it than a few more tourists? >> hopefully president-elect will get more, press more in the way of u.s. business down there. more in the way of freedom which is so needed for cuban people because they have suffered unfairly over all these years. it's a sad, sad day for the cuban people. stuart: let's

vonnie: that was barry sternlicht, chairman and ceo of starwood capital. cons of his decision? this is bloomberg. ♪ david: this is "bloomberg markets." vonnie: let's head over to abigail doolittle for her chart of the day. abigail: we have a great chart of the day. it does deal with oil and head of the proposed opec oil cut. #btb 5068. the white line represents oil. this is over the last two years. the blue range here, that is the proposed oil production out of opec. the cuts that could come today. this proposed cut came at the end of september and it appears that as oil was starting to sag a bit from those big gains made earlier this year, the opec cartel did make this proposal to perhaps help boost oil. we've seen lots of volatility in here. and in the oil etf volatility index, we see the oils etf volatility index is up about 17% this year. from october. investors getting edgy ahead of the possible deal cut. ov 4993. #btb and opec supply cut deal may not come through if iran says they don't want to cut reduction. is iraq in blue and iran nbc production h

marriott, third quarter profit tumbled thanks to acquisition of starwood hotels. revenue rose.orecasting third quarter down. priceline's third quarter rose after a boost by hotel bookings. that stock opened a new 52-week high in open. and gap fell in october due to the impact at its distribution center in new york state in august. there was a bright spot for the retailers. >>> coming up, it is election day. up next we're going to head to indiana to talk jobs and the economy. residents in the state are heading to the polls. it's often a bellwether on how many people about the economy this time of the season. that and more ahead. >>> it is election day and "squawk box" is getting ready for poll results. still coming, john engler, libby cantrell, ian bremmer, and jim yurin. all morning on "squawk box." stick around. >>> welcome back to "squawk box." among the stories front and center, shares of cvs are taking a pound k this morning. quarterly profit $1.64 per share but revenue was short of estimates and cut forecast on slowing prescription sales. down 13% right now. xerox's board