barry with starwood, the story is incredible.- >> he didn't teach me baseball. >> it wasn't like a two-way street. >> what role -- i mean, will -- i know you know warren, too. will the alex rodriguez company 30 years from now look like berkshire? or will it be real estate? where will you be? media? what else is, you know, on the horizon for you. >> that's a great question. you think about five year plans and they never work out. you take it one day at a time. you spend time with the smartest people you can in the world. >> well you're here today. i think that's -- >> surround myself -- exception for today. but you know -- >> you've seen the show i guess. >> i like kind of the private equity style of investing where you kind of take it where opportunity takes you. one thing is for sure you build yourself with the best team, surround yourself with the greatest, smartest minds in the world and go out and do some collaboration. >> i will say, he's a great baseball player, we know that. but he's a really thoughtful businessman. and i

they acquired starwood. revenue up 50%. 6,000 properties in the portfolio right now.o enhance their ability to book rooms at quicker pace. i think they're firing on all cylinders. liz: folks, he is pulling a you buffett. he buys when people are selling. disney is down but i think that will come back to rear its head once again. jeff sica, circle square. [closing bell rings] the dow was down 91 points. it is closing down 31, but nasdaq, you can call that a record, fourth in a row, up about eight points. david and melissa, you have some big earnings coming up. melissa: dow sinking in the final moments of trading in the red for the second straight day. not so with other major averages with nasdaq closing for a brand new record high for the fourth day in a row. i'm melissa francis. david: when we started out thinking the comey business uld send markets tanking. they certainly didn't do that day. i'm david asman. thanks for joining us. this is "after the bell." we have a busy hour. we're waiting first quarterly report from parent of snapchat. >>> president's sudden firing

. >> we had eight great years with starwood and we really appreciated their investment.ut our strategy and our outlook has not changed. we reiterated 2017 guidance, we also provided 2018 delivery guidance of 5,100 to 5,400 deliveries by the etchnd of 201. if you take a look at the midpoint of that range, 2017, that's a pretty good average growth rate. so pretty good growth we have built in for the next couple of years. >> is that why your company has been pretty active in buying back stock? >> the stock as you said, i think is underappreciated. we did a deal with reverse housing trust. a home builder is only as good as their land inventory, that is november, we took a look at the inventory, the 13,000 lots in california, and we came up with a value of about $15.33 as far as an implied book value. what that means today is we're trading about a 20% discount to book. >> k.b. homes were the same thing in 20 12, there's scarcit of california land. at the height of the craziness, we heard that there was no more land. but california is the strongest market in the country, isn't

vonnie: that was barry sternlicht, ceo of starwood capital group speaking with erik schatzker at then conference. mark: coming up, we will look for the best em opportunities from the middle east to latin america, including the impact of -- trump residency on mexico presidency and mexico. plus, an interview with u.s. commerce secretary wilbur ross from the bloomberg draco a summit. -- bloomberg breakaway summit. this is bloomberg. ♪ you vonnie: live from new york, i am vonnie quinn. mark: in london, i am mark barton. this is bloomberg markets. tentative bloomberg business flash -- time for the bloomberg business flash. u.s.ited data plans in the has lost more subscribers in the last quarter. 118,000. the country's fourth biggest wireless provider did manage to post sales big estimates. are announcing that a sprint merger would be a better way to take on at&t and verizon. it just raises prices. the parents of seeing in an hbo posted first-quarter earnings that beat estimates. time warner was helped by the pay-tv providers like comcast. companies waited to be taken over by at&t in an $8

the one that delivers the best hotel rewards, the starwood credit card. i'm taking my own advice. of town for two weeks. make sure everything goes okay while i'm gone. >> we'll hold the fort. thanks, jill. ♪[ music ] >>> 5:41. starting today a brand-new attraction at the world famous winchester mystery house. we'll have details on the new tour. >> and a live look at 880 in oakland. traffic looking good at this hour. jaclyn dunn will give you a full traffic report when we come back. >>> we're ee expected to get an update this morning from bart officials on next year's budget and the fare evasion task force. kpix 5's jessica flores reports from the san leandro bart station this morning with more on today's meeting. jessica >>> reporter: well, it's a pricy problem. bart says many people are just not paying for tickets and getting on bart anyway and they're having trouble cracking down on it costing them about $25 million a year. and today, bart officials will hear an update on the fare evasion task force. that group is tasked with coming up with a way to crack down on cheats. right n

merger with starwood, a great company. >> back around the other way. jimmy?k. now what we're looking for is next week's inventory. a huge drawdown. i think that's pinning a lot of hope on a very small item. look, i think you're going to see oil come down because the rig count keeps going up. >> i want to mention financials. the large cap banks and financial stocks are making another run to try to break above their flat or declining. berkshire hathaway, schwab, take a look at these charts. if they get loose, all the stocks in the market. doc? >> wpx energy buying in there, the third energy stock today. >> have a good weekend. we'll see you on the other side. power starts now. >> the race to 1,000 is on. amazon and alphabet a few bucks away from hitting the magic number. which will take investors even higher from there and who might be the next amazon or google? a lot of questions. answers ahead. tough words from the president in europe. he is slamming the german carmakers now threatening to stop their sales, the potential fallout ahead. and energy stocks batte

it came from jonnie williams' account, starwood trust.triggered the investigation of bob mcdonnell and the federal case under former deputy attorney general jim cole. >> cole: these were not gifts. these were payoffs. >> whitaker: people are giving money all the time. people make contributions-- >> cole: the key difference here is that the contributions didn't go to a campaign. the money that came in went into his pocket. that's not normal politics. that doesn't happen every day. >> hank asbill: you want to take the money out of politics, then take it out of politics. but this is not unique to bob. >> whitaker: mcdonnell's attorney, hank asbill, admitted the evidence in the case looked bad, but he said, it's just the way american politics works. >> asbill: you know, would anyone look at the gifts and loans in this case and say it's a good idea? no. i wasn't happy about having to defend it, but there was no crime. >> whitaker: but shouldn't we expect our politicians to have a higher standard? >> asbill: maybe so. and there ought to be a be

so that starwood turned to gold and that would be also that would mean people would fly to show their neighbors that they had made the ultimate sacrifice. so what we see in all of this is that it's more than just a way to raise a military. there are a lot of great ways to raise an armed force. this is a way to greet unity and a sense of purpose in a culture that has been uncertain that this was their war to fight. april 19 wilson says fighting this war, not 100 percent sure the country is unified and this is public, the public acts of patriotism, a sense of performing your patriotism becomes a way to also unify the community by the men going in to fight these battles. so what happens in terms of how you rate your army, how you advertise the port for the military, these are going to become public practices and we see replicated again and again in the 20th century. in some respects that makes this story just a world war i story. it makes it a story about how the modern military changes in the 20th century and how the relationship between civilian society and the wartime military changes