toyota motors will offer two tranches of ¥20 billion in three and five year bonds each on october 25.-yield issuance slow this week. charter communications so on investment grade notes. the proceeds of the offerings will be repaying a portion of the company's debt. in the u.s., direct hitters came out in full force at the new auction, the highest direct share on record. flighte, while investors to quality pushed on average prices of lower rated leverage loans. says riskier debt is still there. they said they are starting to find opportunities where we are willing to go down in quality. they think the market is being to bearish in quality and are finding good value and mid quality high-yield. my guests are still with me if .ou'd -- with me what does that mean, mid quality? to which the up and quality trade has worked a, single-adouble- nash and high-yield, this will be the first year where the high-yield index returns over 7% and triple seeds perform b's. over back to the original question that u.s. to the start of the show, what is the gross outlook? it strikes me the other quality tr

toyota motors will offer two tranches of ¥20 billion in three and five bonds each on october 25.gh-yield issuance slow this week. charter communications -- >> we want to take you to the international monetary policy. >> how are you doing, what is your secret sauce? how are you achieving the kinds of returns and the numbers you put up this week? >> welcome, everybody, thrilled to be here. i don't pay that much attention to quarterly earnings. for most companies, that where you earn money this quarter, decisions you made over the last 5, 10, 15 years, technology built, things you inherited. building, branches, people, clients, services, unit by unit, business by business, try to create competitive advantage, if you can. >> james. >> i pay a little attention to it. maybe i have to more. ago, we went about de-risking the business model, building businesses that had a much more predictable float. they were not terrible but they were not terrific. long volatility, a few landmines to be dodged. having some very stable revenues gives us comfort. bad times know in things will be fine. in

but if you asked me who is the biggest competitor to tesla, we don't think it is toyota or general motors. we think it is large tech firms that are worth $1 trillion, worth more than all of my auto companies combined, that generate cash that are equal to my entire industry combined, and it is more of regular recurring cash. these are the type of companies that have the ability to attract talent and capital, and lose money if necessary to take on some alike tesla. capx spent $20 billion in over the last decade. that kind of thing will be a difficult task for a legacy auto company to replicate. they will attempt to do it, but the real threat is from the mega tech. taylor: who is the biggest loser and what is the problem? is it capx spending, r&d? adam: the biggest losers are companies that have to defend a declining business model that is at the margin obsolete. internal combustion technology, for example, that cannot be repurposed into electric, for example. and/or does not have the backings from the state or a national policy to be able to absorb losses from flipping the business model. t

yesterday general motors, toyota and chrysler put their support behind the standards set by the white house. >> it's 6:18. take a look at this. we're been talking about the bay area winds. those will be a big story again today. this is sent in by a viewer in boulder creek. a tree branch slammed into the windshield of this car. the car was empty at the time of that impact. can you imagine walking out and finding your car like that? >> it's going to be windy again today. unfortunately it will pick up in the north bay, as we've seen the kincade fire still burning out of control. i wanted to show the plumes of smoke and what we've seen the past 24 hours. the bright blues indicate the smoke was initially blowing off the coast then it spreads out over the north bay yesterday afternoon and into parts of northern contra costa county. our air quality today will be another issue as we are going to see at time drifts of smoke. we can see it in the live camera looking at san francisco. a smoky start to the day. that will continue to get worse. if you can, do what you can to reduce our carbon emis

there is a sharp divide about fuel efficiency among the world's largest carmakers and general motors, toyota and fiat chrysler side with white house plans to have one national standard rather than to allow california to have a separate rule. that puts them in opposition to ford, honda, volkswagen and vw. they support the highest number of car sales with carmakers all saying they want to know, with certainty, what the standard is so they can plan for the future. >>> today, the ceo of boeing will answer questions from a senate committee about the company's troubled max 37 jets. dennis muilenburg is expected to start by saying boeing now knows its mistakes and is doing everything it can to fix them and his expected to say the max jet will be one of the safest planes in history when the changes are complete and the house transportation committee chairman said those improvements should have been made before the max jet began carrying passengers. 346 died and two crashes involving the jet. >>> the ncaa board of governors' meeting since the proposal was adopted to allow college athletes to accept e

yesterday general motors, toyota and chrysler put their support behind the white house. >>> today you have your first chance to check out new on demand shuttle service in cupertino. it's called via-cupertino. first you need to download the via app to use it. you can request a mercedes van to take you anywhere in the city or to the sunnyvale caltrain station. trips run between $1 and $5. the shuttle service launches at 9:30 this morning at civic center plaza. >>> bay area winds will be a big story once again today. let's check out this photo. this is sent in by a viewer in boulder creek. a tree branch slammed into the windshield of the tesla. the car was empty at the time of that impact. >> thank goodness. >> you can see how strong those winds have been. >> i passed the golf course, there was a huge tree down. there were golfers just walking around like, you know, i'm still going to get in my game. >> the winds will pick up again today. i want to show the outline of the kincade fire. it shows how much has burned. a large area, especially in some steep terrain. we know it's been moving

that is one part of being a big becomesany that really like general motors or toyota or volkswagen, withn advantage , with company like tesla a big upstart, it is very easy for them to take care of these sorts of things. tesla is still building that out. they are still really getting the whole sales and service operation in place. is stilltself relatively new to the market, so they are still working bugs out. common complaints are things like scratches, it comes down to basic craftsmanship when building a car. improving, when models are new, they often have these issues. many of many were vehicles out there have a lot of those problems, and they are just catching up to the fact that they are becoming a regular car company now. taylor: it is interesting that this is on the rise. you have covered all of the auto sector. it is in your company, how much of it is an expectation that these kinks will be worked out eventually? >> there is always an expectation issue. tesla has an advantage here in -- whatever they have had whenever they have had quality issues, there has been a lot more toleran

toyota, kia and general motors back in the trump administration is his ongoing battle with california over who gets to mandate fuel economy standards. other lawmakers, honda, volkswagen, ford, and bmw previously agreed with california to manufacture cars with higher fuel efficiency. to missouri the state of the only abortion clinic in missouri is under consideration was a member of the state's administered hearing commission over proceedings today over whether the clinic keep its abortion license after being cited for numerous healthcare violations, not expected until february of next year. the state has refused to renew his license to perform abortions citing concerns include failed abortions and serious medical complications. trace gallagher reconstructs the raid minute by minute. the isis leader is that the terror group vowing to continue. james woolsey and retired attorney general knows what it's like inside these dangerous raids, they are up next. phew, it's back with lobster mac & cheese. it's gone again. oh, it's back with shrimp now! steak & lobster starting at only $15.99. hu

general motors, fiat chrysler, and toyota have filed a lawsuit to intervene.hed an agreement with other lawmakers, automakers to voluntarily increase the average fuel economy of their vehicles. >>> myelin pharmaceuticals is recalling its generic form of xanax. the fda found the potential presence of a foreign substance in the anti-anxiety prescription drug alprazolam. the recall is for .5 milligram tablets that were distributed in july and august in 500-count bottles. the affected drugs have a september, 2020, expiration date. myelin has notified customers about the recall. late kurt cobain has just sold at auction. the vintage olive green cardigan sold for a record-breaking $334,000. the late nirvana front man wore the>> caller: at the band's mtv "unplugg "unplugged" performance in new york in 1993. the sweater has not been washed since cobain wore it at the concert. anne-marie, perhaps that's why it's going for so much money. >> that's some expensive sweat. it's a good thing my mom didn't get her hands on that sweater. that would have been cleaned up, hot wa

tonight, toyota, kia and general motors backing the trump administration an ongoing battle with california over who gets to mandate fuel economy standards. for other leading lawmakers, excuse me automakers honda, volkswagen bmw previously agreed with california to manufacture cars with higher fuel efficiency. to missouri now where the fate of only abortion clinic in missouri is under consideration. a member of the states administrative hearing commission open proceedings today over whether the clinic can keep its abortion license after being cited for numerous health code violations. not expected a vote until february of next year. the state has refused to renew its license to perform abortion citing concerns that include field abortions and serious medical complications. trace gallagher reconstructs the rate minute-by-minute. the isis leader is dead but the terrorist group vowing to continue its extreme. cia director james woolsey and a delta force commander himself, he knows what it's like inside these dangerous raids. they are up next. granted. only pay for what you need. ♪ liberty. lib

motors reporting there u.s. retail sales number for a third quarter that was substantially disappointing for honda and toyota.oming up, last month's stockmarket rotation killed returns for hedge funds, but one managed to make it percent. -- 8%. this is bloomberg. ♪ matt: this is "bloomberg daybreak: europe." one fund has emerged from the rubble. greenlight capital gained 8% across its funds in september. dani burger has the details. >> a very value oriented strategy. that really paid off this month. value came back. momentum lost its steam. looking at long positions, we can tell just why it did so well. g.m. for example has a price to equity ratio of five compared to the s&p 18. a value play. green light paid off massively. two big short positions we know. netflix.d these are highflying momentum growth shares. both of which declined in september. this was good in september, but this value oriented strategy .ost in light more than 33% -- or canng to see his value strategy play out? value doing really well of 12%, beating out momentum. if we take this to a more recent time horizon, just one day, it looks like t

toyota sequoia that may be used in the disappearance. she was last seen wearing a pink t-shirt with a leopard print design and white and blue hair bows. >>> a month-long strike at general motorser soon. top officials will be meeting on thursday to potentially approve a new labor deal for 15,000 striking members. negotiators are due back at the bargaining table this morning. a lot of progress was made over the weekend, with a few details lingering. 21 facilities across 9 states has caused layoffs across canada and mexico. >>> let's look at cnn business this morning. markets around the world. a mixed performance. on wall street, the futures are up slightly. stocks fell monday. optimism about the tendtive agreement between the u.s. and china seemed to fade. the dow closed 29 points lower. the s&p 500 dipped slightly. wework was one of the most valued companies. after its failed ipo, it's running low on cash and may not have enough money to loast the year. one option is to sell control to softbank. and letting jpmorgan chase oversee the debt package. softbank was going to inject funds into wework but is reconsidering that. >>> target says it would raise its minimum wage to $15 an

motors said sales rose, but not as much as expected. third quarter sales fell less than expected. fiat chrysler fell flat, but did not feed expectations after the concerns by toyotathe asian producers yesterday. they felt like relief getting the u.s. manufacturers' numbers. >> yeah, but it's not a real apples to oranges comparison. what they reported was just september sales. this year, september sales did not include the labor day weekend, which is a high selling period. what the detroit automakers reported was a three month p eriod. that included august, which had the wonderful results from labor day weekend. they get an easier marking period than the asian automakers did. that's all you have this contrast. >> tesla slumped in late trading. 97,000 cars delivered looks pretty good. weber investors disappointed -- why were investors disappointed? >> always amended -- expectations. they could possibly hit triple digits or 100,000 vehicles. it was a record. it was a good quarter. but they didn't hit the expectation they set for the market. that always makes investors nervous. you're not watching for any sign there is enough vehicle demand out there to satisfy tesla

motors says u.s. sales rose, but not as much as expected. meanwhile, ford's third quarter sales fell less than expected. fiat chrysler fell flat, but did beat expectations after the real concerns flagged by toyota, the asian producers yesterday in the u.s. it felt like a real relief getting the u.s. manufacturers' numbers. >> yeah, but it's not a real apples to oranges comparison. because what the asian manufacturers reported yesterday were just september sales. this year, september sales did not include the labor day weekend, which is a high selling period. and what the detroit automakers reported was a three month period. so that included august, which had the wonderful sales results from the labor day weekend. so they get a little bit of an easier marking period than the asian automakers did. that is why you have this contrast. paul: tesla slumped in late trading, even after recording record quarterly deliveries. 97,000 cars delivered looks pretty good. why were investors disappointed? >> as always, it is a matter of expectations. last week, elon musk, the ceo of the company, went out and said they could possibly hit triple digits or more than 100,000 vehicles. it was a record. it was a good

motors is obviously a big player in the industry. i think it's a win-win all around. neil: it does have indirect effect on guys like you and toyotang is sort of interlocked here. if they do have an agreement, obviously those parts and all start flowing again. work continues again, but the impact is already there, right? how severe an impact? >> well, you know, general motors entered the strike period with a fairly reasonable supply of vehicles. so i'm not sure necessarily impacted their current sales volumes. depends how long it will take to be able to get the flow of product moving back in. then how long it will take to get the parts moving. so, you know, it is difficult for me to say sitting here, the impact on general motors. hopefully it is limited. and they will be able to get back to business as soon as possible. neil: i know how these things go, jim. you educated me on this in the past, the blueprint they're using here with gm, they would use on the uaw takes the same package i guess, ford, chrysler, some of these others. how do you expect that process to go? >> hopefully goes very smoothly. the important thing they're abl