the other part is he is very friendly with tom joyce. he ran the capital markets division for merrill lynch, one of the top guys. coming very close with dick grasso when he was the chairman commission. from what i understand, he is playing an important behind the scenes here. i think the getco did was an unfriendly bid because they just made the filing. they said here's what we want. it was a hostile takeover, said tom joyce is gone, that is essentially what they said. he would be nonexecutive chairman, which means you have no role in the company, you generally leave. that is kind of an interesting thing. we should point out they have a good bid. it will be hard to turn down but we should point out getco had really good built-in advantages. it owns a piece of knight capital. its advisor, jeffries, owns a piece of it. if you put them together come you're talking about controlling 38% of the ownership of knight capital. that will be very formidable. that said, there is 62 left, they may want to go for the old cash bid. a private company, p

we know as of today tom joyce is looking for other bidders across wall street.e is successful or not i can't tell you. he is clearly looking to get the price tag up. it is his fiduciary response hablt to do that. shares are $2.97. near three bucks. there is takeover talk in the stock. this is what he is doing right now. virtu and gekko are supposed to be putting bids in for the firm. as early as tomorrow. so what joyce is doing out there is going across wall street looking for others, basically saying listen, guys you want to put in the bid? you have got competition. david: "wall street journal" suggests they may be selling parts of it. this is for the whole shebang? >> for the whole shebang shopping for this. i don't want to criticize anybody's reporting. but this is a little technical. they were saying virtu and gekko wanted just the money market part of the firm. we should point out, excuse me the market making part of the firm. the part of firm brings buyers and sellers together that is essentially the whole firm. if you're buying knight with some other subs

i think there's a lot of good will around tom joyce.ere not to survive as chairman and ceo with a newly restructured company, i'm told that would not have anything to do with his reputation or skill set. it's more a sense of -- in these m & a situations, there's a bias sometimes toward new management. but like i said, that's not at all clear and it's possible he'll continue on. one other quick point to make, the initial stories on this said that the market making unit would be sold. that doesn't make a wheel lot of sense because that's their core business. that's why it makes sense to think of this more as an entire company. >> and a big growth business. it's the part that's growing too. certainly from a revenue standpoint it is. >> they have a number of other valuable assets, but this is by far the heart and soul of what they do, scott. >> right. kate, appreciate it very much. you can certainly see the reaction in your reporting in the stock today of knight capital group. >>> meantime, apple may be the most valuable company on the plan

some interests, tom joyce went out when he got the two bids and the new virtue was going to bid, he went shopped, some interest from td ameritrade and we should point out, they were one of the bailout consortium that bailed out night back in august so it makes sense, a huge order provider. it matches the buyers themselves, usually of stocks, usually through order flow from the tv ameritrades of the world, the biggest market maker in that. liz: a lot of viewers have tv ameritrade. charlie: if you are a viewer, if you have a brokerage account chances are night securities plays some role in whatever you do to buy a stock and bond. we are covering this story. we have no comment from td ameritrade. they have not put in an official bid but expressed some interest and walked away. we don't know where it is but it is interesting because it is into trench warfare. you have virtue out there, the bid is $3 and we have got low cash. and is $3 and get go has a deal that is $3.50 cash stock and valued, the board of directors, and talk to them, you guys go back, get your financing, make sure you have g

cheryl: charlie gasparino is now reporting that tom joyce would be the ceo of knight capital. dennis: here is a juicy tidbit. mr. grasso would return as an unofficial advisor. charlie will be on later this hour to tell us about it. stay with us. ♪ [ abdul-rashid ] i've been workg since i was about 16. you know, one job or the other. the moment i could access e retirement plan, i just became firm about it -- you know, it's like it just hits y fast. you know, youtart thinking about what's really important here. ♪ >> and nicole petallides live on the floor of the new york stock exchange. every 15 minutes, we do stocks now. look at the dow jones industrials. not too far off of the highs. you see we were in the red and that we got some positive commeets from john boehner, u.s. house speaker, john boehner. talking about reaching some sort of deal. now we just heard from president obama who talks about extending, obviously, the tax cuts for the middle class. yesterday, when we heard from harry reid, that made the market sell off. these comments are market moving events. dennis: thank

and the other thing, the future of tom joyce. under the getco bid, he is essentially out. nonexecutive chairman, which means you are done. even under the virtue bid, can't imagine he will be there very long. i think he stays through transition and leaves. if he gets this deal, he can revive his reputation after the trading glitch and all the stuff that nearly blew up the firm. he knows the market, he can be replacement of one of the ceo ceos. if they decide to do something else, he is a guy that could step into one of those jobs because he knows exchanges. that is what we know right now. we're clearly waiting, it is an eerie silence. lori: oth suitors and in vowels. >> that is pretty wild. my name ends in a vowel. see you guys. melissa: turmoil breaking a three-day losing streak, will it hold onto the gains? talking guy fiscal cliff deal. lori: thank you for reminding me i was saying goodbye to charlie. groupon prices down 80% since going public. the very latest as the board of groupon meet. and look at the winners and losers on the s&p 500. want to try to crack it? yeah,

there is tom joyce. melissa: he is pretty ripped. charlie: i think he used to play football. i think virtu has about five or six fingers lined up for it. and getco to go back and it is that the 50 bed. from what i understand, it is not above 320, but it is and all cash. it is likely to last about a week. i do not think they are ready. lori: we are following this deal so closely. charlie: knight is the leading market maker out there. it provides retail. if you trade through td ameritrade, knight plays a role in your trade. we could always learn something. melissa: charlie gasparino, thank you so much. have a great weekend. a surprising new report on the amount of taxes the top 5% of americans pay. melissa: gas prices are up. how do you feel about paying even more? the new talk about raising the tax to avoid the fiscal cliff. ♪ those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's ght. you can be more confident in your ability to b

and playing down a deal talk, tom joyce saying his country's currently if talks with at least two firms on a possible sale of its largest business unit. but would only pursue a deal if it created value to shareholders and clients. and mexico's anti-corruption body says it has found no irregularities in its probe of permits given to walmart. two audits still under way. you are remember the "new york times" reported walmart wribed local officials so it could open stores more rapidly. mr. kernen, welcome back. >> thanks. was i out? >> you were. >> friday doesn't count. >> happy thanksgiving. how about that. >> thank you. yeah, friday, nothing -- the mar cut was up, thin trading, but down today. even though these guys are meeting again. in a sign of the slow pace, senior administration official said president obama and congressional leaders are not expected to reconvene this week. this is so the staff of both sides can continue to organize and work through the differences. and what is not a surprise at all, mr. obama instead will probably hit the road this week to give speeches. >> xwitner

tom joyce under the getco proposal would be nonexecutive chairman but pushed aside to a certain extentpendent directors will make this decision for knight if they do get that other competing bid. >> has tommy joyce come out and said that he favors any particular? is he trying to get the highest price imaginable? >> the way this process should work is the independent directors of this board are the ones that will have to make this decision. >> truly independent? >> i believe they are. i believe they are. there's not that many of them. under the getco proposal, a split board. four members from knight and four members from getco with joyce, the chairman. >> i know him from my college class. he's just a good guy. >> everybody says that. >> he came in and saved them from what the s.e.c. was doing to them. >> of course they did have that huge loss. >> they did. >> as we mentioned, ceos are making their way to the white house and capitol hill to discuss the fiscal cliff today. our own eamon javers is talking to one of those ceos. hear what he has to say next. later on, the need for speed and