nest was founded in 2010 by former apple executive tony fadell and matt rogers. our senior west coast correspondent jon erlichman has been following this story from l.a.. as i mentioned, fadell and his cofounder --nest feels like apple. i always thought if anyone would die them, it would be apple. why google? >> as for the position for google, apple, and samsung in the story, here is how things may be playing out. google has never shied away from doing an acquisition if it allows them to go into a new area. you wonder if this is their key to getting into the connected home and a bigger way, which you just alluded to. i was at the consumer electronics show in las vegas. you see the internet connected everything. light bulbs, etc. google always comes up in those conversations. you have samsung and air flashier ways getting into the kitchen. i think google -- buying right now allows them to get into this world with a really smart people who are dedicated to continuing down this path. to answer your question, maybe apple is working on some of their own stuff. who kno

and it will be run by tony fadell is well-known for being an important apple executive around the timeuct leader. he's actually -- tony told us yesterday he will report directly to larry page through this independent unit. and they'll figure out how they're going to combine forces. but tony also emphasized that the reason he agreed to join up, i mean, he's a wealthy man many times over, is because he's interested in using the infrastructure and the kind of -- all the resources that google can provide that he would have to do replicate as a start-up. >> yeah. the creator of the ipod now reporting to page is not lost on people. that's for chur. liz -- >> no, but interesting ---ist just going to say interestingly, apple didn't seem to be very involved in bidding on nest which was a surprise to a lot of people. >> yeah. >> apple doesn't buy a lot of fully formed hardware products. it might buy chip designs, things like that. yeah. >> liz gains, thank you so much. jon, thank you as well. >>> last week we gave you an inside look at chipotle pizza. a new fast kashcasual pizza pla. is pizza th

i actually had been, had known tony fadel, the cofounder and ceo of nest since 1991 when he and i worked general magic together. i had been hounding tony to invest in him some way, somehow. he had at the time gone on to apple computer and had a very successful career there he was inventor of the i pod and then -- liz: wow. so he is no dummy, right? >> no, brilliant guy. so i had been hounding him, in fact, you know, i would bump into him from time to time in ongoing joke between him and me was, that i had my checkbook ready, and, tony, when can i write awe check? finally spring of 2011 we were fortunate to have the opportunity to write tony and his cofounder, matt rogers a check. liz: oh, it is all about networking and keeping friends with people through the years, isn't it? so going back to 1991 you saw this. how much money did you put in originally may we ask? >> the company is a very secretive confidential company so i'm not unfortunately at liberty to discuss that. liz: okay, but i have to ask there you are. >> i'm sure. liz: i imagine you're very excited about the fact that google h

the cofounder, tony fadel will continue to run nest. david: there is no ceiling for google's stock. despite all the glitches and setbacks it looks like the health care act is not making health insurance stocks sick at all. david: by no means. on average the largest publicly-traded health insure participating in obamacare jumped 37% last year. so will the rally continue? rich edson joins us with more. rich? >> the law does promise insurance companies millions of new customers and with that brought substantial gains in the stock prices t offers safeguards against significant losses over the first three years just in case healthier americans fail to sign up to pay premiums. with that the administration released the first statistics showing who is buying obamacare and how old they are. officials say more than 2 million select ad private insurance plan through obamacare. nearly quarter of adults younger than 35. the government is subsidizing four in five of those enrollees. as for insurance companies values to continue increasing, analysts say millions more need to buy into obamacare. >>

this guy, tony fadell is 44 years old. you know him. you have interviewed him. at the products, they like even look like to ipod he came up with. they are simple, they talk. they have that big button. he has moved from am to his own thing sand now part of the google family. >> i guess you would call him a high achiever. >> slightly. 44. he never said how much of the company belonged to him. we can assume that somewhere close to half of that company belongs to him. he has at least several hundred million to play with. >> whatever happened, he is doing well. ryan, thank you so much. ryan chilcote there. an offer cable has to charter communications. >> time warner's board calls it grossly inadequate. nus cranny joins us with the details. manus? >> some say the reason charter has gone public. john malone, -- they have been haggling with these guys for 114, now they came in at 127. it looks like time warner cable wants $160. the question is this. will chatter go nuclear? -- charter go nuclear? there are a number of options left. charter said we want all options to be

ceo and cofounder of nest, tony fadell. >> you need to say, "i'm going to disneyland." let's see how things are going in new york. scarlet fu is going to check today's top headlines. feed.'s get you the news the top business stories from around the world. jpmorgan. a year after the bank splashed jamie dimon conversation by millions, the ceo is getting a raise. his board agreed to a pay increase despite a vocal minority of directors who are opposed. jpmorgan is paid out about $20 billion in legal fines and settlements. no word on how much of an increase he would get. currency plans to ease controls after letting the peso devalued by the most in 12 years. those controls blamed for creating a black market in speeding up inflation. arginine's will be allowed to buy dollars in proportion to the income and a tax on foreign currency will be reduced. carl icahn making an $800 million profit by selling more than half his stake in netflix back in october. he is losing a bet on the stop with his son brett and his fund comanager, they that that never looks would keep rising. out on

and boom, because of tony fadell and a few others they did.gle as part of the nest deal. >> johnny ives was working on some crazy idea that's going to make google glass and nest and everything look like child's play. you got closer to that secret than anybody else, though. >> well, you know, i think steve jobs would have wanted, as the next disruptive thing, to have wearable like watches or tv, the easy tv you could walk into the room and say "put on squawk box," and you didn't have to worry about all of the complexities, or disrupt the digital camera industry or disrupt textbooks or something. steve jobs was a disrupter. i think that now that tim cook has done this big thing in china which was his first year of play. he's got two things to do right now, take over the company, which will mean in late february, shareholders meeting, they probably have to start thinking about who should be on the board next. this board is all steve jobs people. they aren't exactly the tim cook fan club. secondly, he's got to say, what am i going to disrupt? is i

earlier this morning our jon fortt spoke with nest ceo tony fadell on a first on broadcast interview davos. obviously it was a long distance interview, i'm here. first thing i asked him about how much of this acquisition was about money, got quite a bit of it $3.2 billion. how much was about time. take a listen. >> when i was spending, you know, 95% of my time working on infrastructure and 5% of my time on product, i felt that it was the wrong mix. especially as fast as the marketing is developing. i wanted to go back and focus on the thing that was the biggest value creation for the company which was the products and the services we create. >> he also talked about employeeiemploye employees and how they reacted to the news that they were getting this big google payday. >> where were we spending our time, building the difference yags for our company. so were we spending it with customer products and building those things and bringing those out as fast as possible or were we just in the background making servers, making, you know, putting in facilities and inf infrastructure. >> we mi