begins here in the secret valley of the kings in egypt, across the river from the ancient capital of thebes. the valley of the kings is hot and very dry. in the summer, the temperature can go up to 120 degrees. it would be a terrible place to live, but what a marvelous place to keep things for eternity. pharaohs' tombs, equipped with all the necessities for a voyage into eternity, were hidden here. this is hundreds of miles from the great pyramids. the problem with the pyramids was that they were too conspicuous to robbers. in this valley, the idea was that no one would know. this fascination with the afterlife, and the state of mind of the ancient egyptians in general, can be best understood by learning something about their environment-- which basically means... the river nile. all activity centered on its water and its fertile banks. ( sheep and goats bleating ) the desert, literally a footstep away, was a constant reminder to the egyptians that, without the nile, there would be no life. the nile offered ancient egypt more than just its life-giving water or the transportation lifeline th

freeze thebe -- sales of competitors. >> i am a watch geek and what is interesting is not that applehas something that will track your fitness but they chose down path thatown the replaces a wristwatch. people that where we watches for fashion are probably too fashion conscious to choose to have two things. what is this going to do to the watch collector that is also fitness conscious and in apple eight. does this mean that you're david -- daily driver becomes apple watch and maybe you're putting on your high and watch when you go out to dinner. the whole time thinking as soon as i get on -- home i want to put my watch on because i do not want to lose track of what i am tracking. that problem may be solved because the phone can do some trekking on its own. own.acking on its was talking to the designer and i asked about thegning for fashion, all federation. -- iteration. edition.e called the he says it was a normal sleep challenging but it seems that they embrace this notion of being in the fashion business. >> it will be interesting. >> thanks for a much. hamiltonson and dave and her

than thebe more so agricultural bank in 2010. it can type better 23 billion dollars if you include the overallotment. number two, this could be the third-largest tech company trading in the united states after google and facebook. thirdly, i am interested in who's going to be selling the shares. not everyone will be. the largest shareholder, softbank at 30% ownership, not unlikeg on selling yahoo!, of course, that is looking to reap billion dollars. bache -- theloor four-page letter from jack ma talking about how customers are first, employees or second, investors are number three. he talked about how he expects controversy to arise, but he hopes the controversy creates constructive dialogue. that is interesting. let's face it, let leslie will have beenight now, i speaking to investors and people on the street, the retail guys are not there. it is a tepid, muted response. you need some guys who can take a lot of shovels worth. deal,ou look at this specifically the letter, the press focuses on the letter from the ceo. it is a new

thebe overtaking us in terms of size of economy. but you have to put this in perspective. that is because they've got more people than we do, almost four times as many people as we do. the typical can chinese only earns one-fifth of what the typical american earns. so you put those two numbers together, you come up with a fairly large number. this is no threat to the united states, it's just simply a virtue of, or a function of the fact that china has more people than we do. liz: okay. well, that's the thing, china may have more people, but china also has what appears to be a slowing consumer economy. meaning we just got numbers about imports and exports. sure, they're exporting a lot, but they're importing less than expected for the most recent numbers. that makes me say what's wrong with the chinese consumer? >> well, the reason the consumer spending's slowing largely has to do with the kind of problem we went through about five or six years ago, they've got a housing crash going. housing's in serious trouble. it was a bubble, it's bursting, and that's hurting consumer w

if i were apple, i would be visa, thebe set -- thumbprint is reducing your risk.should get a piece of the transaction. explain to me what the thumbprint biometric is not reducing risk? >> let me start with the tokenization. that technology is what makes the data useless, by creating a single digital accountable -- account number. that is what is really reducing the risk. the thumbprint is a great thing. don't get me wrong. but it is what we call static data. it doesn't change from used to use. so in theory, our ingenious colonel minds could eventually be able to counterfeit that thumbprint data as well. it is good, but it is the commendation of things that really makes it work. and especially the static data, illuminating the static data through tokenization. >> as either standard, apple is taking a portion of bank fees from the apple pay transactions. but it is not taking anything from the credit card companies. does your takeaway change? is apple taking any part of your cut? >> apple's arrangements are primarily directly with financial institutions. the economic

by, we're told, iraqi sunni tribal fighters, organizing a quiet effort that involves saudi arabia, thebes. over the last months. that's the shape of what is coming. it's a very tough strategy to execute but it's getting started, and it's go -- problem is you have to go house to house in mosul in fallujah, in ramadi all these cities where they're dug in what is going to do that if it's not americans? >> schieffer: that's the question here. you don't do that with airplanes. do you that with troops on the ground and can there be a successful strategy without u.s. troops or troops from some place in the west going in there to do this? >> i feel like in a way we're confusing two things. it is one thing to say u.s. guys in there intelligence for guidance for some leadership i get that. that's different from, hey guys, let's invade a nation and do nation building. isis is a specific threat. we know 50 targets which we can go bam boom, boom, yes human beings on the ground. this doesn't have to be hundreds ever thousands of americans invading a country that does not want us. it's different. as i

of thebe at the inn show.e are testing our chemistry. >> time now for newsfeed, top business stories from around the world. a surprise drop in housing stops last month. beginning home construction fell more than 14%, coming a month after housing starts hit in almost seven-month high. and the german conglomerate bayer will spin off its plastics unit. that will let the company focus on its more profitable life-sciences businesses, pharmaceuticals, chemicals, and seeds. of one of the nfl's biggest sponsors and says that she is confident commissioner roger goodell will do the right thing. says therendra nooyi is no middle ground when it comes to child abuse and domestic violence. goodel has been criticized. >>l olivia, domestic abuse and violence is a huge issue every day, and it is tragic that we pay this much attention when it is billions of dollars. >> or when a video gets late. >> correct. erik schatzker is in detroit for a very special day and he has interviewed some of the biggest names in business and finan

. >> every two or three months is seems thebe to be the password is dead. is it going to die any time soon? >> guest: i hope so. it will probably not completely die. but we have the means of getting over this if you think about it. this is a collective thing we as consu consume and industries need to get together and solve this. think about in the password, we have to remember and look it up and that is how we gain asses to the important accounts. there is a lot of information we could do passively. most of us have microphones, the way i type is unique. mobile devices have finger print readers and cameras which is creepy but we could look at it and say you are wade. we know where the device is and if that is by your computer that is a good match. there are many ways we can verify someone but we got used to the password and it is like a crutch. >> host: wade baker and joe marks thank you very much. up next, the house veteran looks over the va report from the phoenix health care. we hear from general richard griffin and whistle blower and former director sam

at thebe we can relook 2001 and 2002 and see if they can be repealed. we can be moving in a much more decided way. >> i think some members in your leadership do not want it repealed. this is the only opportunity we have -- i think i would feel a lot better about the process if we had a commitment from the speaker that when we come back, we will have a vote. i have no idea how long we will be back. of thequires 15 days session to ripen. >> just for purposes of information, the speaker told us that when he met with the president and the other leadership, he advised the president and the collective leadership and he thought the best thing to do was a new authorization -- he thought that was best for the institution, country, for the president in terms of being able to build why partisan support. i don't think this is something that the administration or the speaker was willing to do. there are people on both sides that do not want to bring it and i think that is a shame because i think we feel the responsibility to talk about it. >> i think you are probabl