mike, bob tepper, and alan knuckman, thank you very much. it jumped another 8% today after record profits were announced. shortly after earnings were released i spoke with southwest chairman, ceo and president gary kelly about exactly what it is that makes southwest more attractive to investor by far than any other major airline. >> everybody company to be sustainable, to be successful has to be passionate about what they do and need to be good at what they do. our people love to serve our customers, it really starts there. we vin investment grade credit. we have strong balance sheet. we have for, well over a generation and, that has served us well. we're a low-cost carrier. we're a low fare leader in america. and you put all that together, it is a very powerful combination. we had to transform lastfy years, 10 years with higher fuel prices but our folks have done that successfully and i'm just delighted for them. this is a great place for us to be. david: we'll talk about fuel, particularly your hedging of fuel which has been brilliant by i

susan tepper capturing eyewitness cam video of the legendary brazilian in town for the annual conventionf the national soccer coaches association of america which will continue throughout the weekend. we'll be right back with more ♪ >>> it is a blast from the past at the camden a care yum in the form of a dino invasion. >> take look at this new exhibit called dinosaurs of the deep. it features prehistoric marine reptiles that lived more than a million years ago. this is the largest exhibit adventure aquarium has ever shown get out and see it this weekend while the weather is cold. dinosaurs of the deep is on display for limited time. >> we'll be right back. ♪ >> we thank you for watching "eyewitness news" at 11:00. we're back in the morning at 5:00 o'clock with nicole brewer. for lesley, kate and everyone here at "eyewitness news" i'm chris may. >> i'm jessica dean. stay connected all weekend long at cbs philly.cop. the late show with david letterman is next with irving meyer. have a good night an great weekend. ♪ >> announcer: the following is a paid advertisement for the swivel sweeper

susan tepper capturing eyewitness cam video of the legendary brazilian in town for the annual conventionthe national soccer coaches association of america which will continue throughout the weekend. we'll be right back with more deciding what to buy is one thing. deciding between buying food and health care is something else. healthy pa is now here to help with name-brand health insurance that costs as little as a few basic groceries. if you're uninsured, call or apply online today. ♪ >>> it is a blast from the past at the camden a care yum in the form of a dino invasion. >> take look at this new exhibit called dinosaurs of the deep. it features prehistoric marine reptiles that lived more than a million years ago. this is the largest exhibit adventure aquarium has ever shown get out and see it this weekend while the weather is cold. dinosaurs of the deep is on display for limited time. >> we'll be right back. ♪ release a devastating avalanche of taste on your tongue. bury yourself in the flavor full of sweet icing and filling. call off the hounds! rescue is unnecessary. pillsbury toaster

remember, tepper last week said not a time to be cautious.appens when central banks fight inflation around the world? the first thing to rise? asset prices. people forgot about positive reaction. >> day to day sentiment has been negative. you have a lot of underperforming people who took november and december and threw everything they had at the market. and they haven't seen sentiment at this positive extreme since the year 2000. >> that was the crux of the goldman thing yesterday. their sentiment index has blown through the roof. >> today's action is trader sentiment. but investor sentiment is very high. >> and that can reverse really quickly. look at the first three days. all of a sudden we're focussing on negative negative negative. but wait until we hear what the companies have to say. because they are going to have some positive things. not every one, not every sector but there are going to be pockets of the market and pockets of the sectors where you want to be. andase said before, consumers benefits big from oil. >> whans what happens

that's andrew bird who's an assistant professor at the tepper school of business at carnegie melon university. the commenter in this session will be the professor of law at harvard law school and zuho financial group, professor of finance at harvard business school but we start with andrew. >> good morning. so i was gratified to hear john's opening remarks this morning and jim has done the same thing so my first slide is to draw the analogy between inversions and foreign take overs. i think that's been done already but of course the incentives to invert generally speaking are to try to reduce taxes on both foreign and domestic income so that could be a stock of past earnings as well as on a go forward basis so we heard about different structures for inversions. they basically involve getting a new foreign parent. now, of course the other place you can get another foreign parent is if you're just acquired by a foreign company. this has been happening for a long time. but the tax incentives. there's a very close parallel to take over a u.s. company as there are for the u.s. company to find some

joining us is chad morganlander of steeping, mark tepper, founder of steeple partners. you think now is not the best time to get into stocks but it's also not the best time to sell either. >> right. yeah, i don't know to state the obvious, but obviously it would have been a much better time to get in two years ago, five years ago. we can't rewind the clock. we do not think it's a time to sell right now. unfortunately we're at the tail end of the bull market and upside gains from here are somewhat limited. but the markets still should have a pretty good 2015. we think there are some good economic tailwinds behind us. and we would expect positive returns out of the market over the course of this year, probably high single digits. so we are not selling right now. we are overweight u.s. stocks at this point. and we have no intention of scaling back to neutral or underweight, but we're definitely not allocating more chips towards u.s. stocks today. >> all right, chad. where do you stand on this? react to what mark just said and give us some ideas on where to put money to mak

but if they are taking the gloves off, i'm kind of excited to see david tepper and leon black in an opentch. >> i don't know if it will get to court. it will be in court. >> we just won't see them on the witness stand. >> i don't think so. >> i would like to see that can of showdown. wouldn't you? >> absolutely. >> this could end up being hate the player -- game, not the player. if leon black did everything legal and exploited a loophole, that is the nature of this game. >> when you deal with leon black, shouldn't you expect that every single time? it is not a gentleman's game anymore. >> if you want to dissipate that is happening, but maybe you cannot anticipate all the things he might do. >> thank you for coming in sharing the story with us. we look more -- forward to more reporting from laura keller. she covers distressed debt, like caesars. >> a report card on mary boris first official first year of general motors. -- mary barra's first official year as ceo of general motors. ♪ >> welcome back to "market makers." i'm stephanie ruhle. it has been one year since maryborough took over -

but we thought the credit bubble was going to end and david tepper saying the credit bubble in september was over that the run that we have seen in credit was over. jennifer, i'm wondering given that this is your wheelhouse where the 10-year and 30-year are right now, i don't think people would have predicted starting 2015 at these ultra low levels yet again so where do you want to be on the credit scale given what's ahead in '15? >> yeah. so we are of the belief that the fed is certainly going to be on the path of raising rates in the middle of the year latter part of the year. frankly, our domestic and economic growth sup sportports some level of accommodation but not emergency policy we are currently at and because we believe the fed is likely to begin that path of raising rates prior to the end of the year we are encouraging our clients to focus on that intermediate long end of the curve simply because all of the volatility in the short end. the long end of the curve held down by foreign interests, by baby boomers, by pension plans derisking after five years of a positive equity mark

young expert on international takeovers and that's andrew bird who is an assistant professor at the tepper school of business at carnegie melon university. the commentator will be misa misa dasi professor of law at harvard law school. we start with andrew bird. andrew andrew? >> good morning. so i was gratified to hear john's opening remarks this morning and then jim's done the same thing so my first slide is to draw the analogy between inversions and foreign takeovers more generally. i think that's kind of been done already. i'll go over the argument again to be clear. of course, the incentives to invert generally speaking are to try to reduce taxes on both foreign and domestic income so that could be the stock of past earnings and go forward basis. so there we heard about different structures for inversions. they basically involve getting a new foreign parent. now, of course, the other place you can get a new foreign parent is if you're just acquired by a foreign company this has been happening for a long time. but the tax incentives are basically -- very close parallel, tax incentives f