there are some negative consequences, trish.they're powerful is because they're trying to generate a return, right. just as we were talking about herbal life, it's not so much that the senator has sent the later and may be doing the bidding of bill ackman, he is trying to create a dialogue. it's not a one-way street, it says x and then the y is the shareholders left wondering what the heck is going on. >> you said there are negative consequences, what are they? >> some of the consequences that we don't talk about on a day-to-day basis is jobs, cutting costs. so all of these activism as i said, they create shareholder value, short-term, "medium"-term, long-term, there will be job cuts. because of the activism because there are going to be some mergers. >> you get consolidation and less productivity. the image of activists, ralph nader comes out the other day ikahn that he should take a look at this, shareholders are not getting the best value here. the idea that you have nader saying basically i need this white knight in the form

who knew there was one come and trish? trish?ng the scandal. >> apple, yahoo, facebook, amazon and google show us what they've got, what we can expect from the tech giants. of you guyse both here. what are you looking forward to? the first is apple. they are curious if the ipad sold better or worse than expected. i think that they will be better than people thought, close to 27 million. iphone a little bit weaker than expected because the iphone 5c did not sell as well as people thought. >> will that set the tone? >> yes, because it is on monday and its size. the rest of the week, we will hear from the internet guys to see how big mobile was. to see what facebook is doing with instagram and video advertising. on iseople are focused best buy and amazon because of best buy. because of what happened at best buy, down 30% -- >> they got hammered. >> amazon show that they took it away from amazon. >> do you think that amazon did it? people, including myself, were frustrated with the ups ordeal and not getting things on time. the best

. >> and trish regan. she's the author of "joint ventures inside america's almost legal marijuana industry" and former senior drug policy advisor to president obama, kevin sibet. kevin, i'm going to start with you. here's what the polls are showing. the public is clearly behind marijuana. why are you and your former boss, president obama, willing to back legislation? >> well, i think, first of all, we have different polls. the ras mucin poll showed it was majority opposed. washington post poll showed it even. the cnn poll, your poll with orc as well as the gallup poll showed differences. this is about creating the next big tobacco. the reason the american medical association is on the side of opposing legal sales of marijuana, the reason why the american society of addiction medicine and almost every major medicine association is we know this will create the tobacco industry of our time. we have people selling candies, edibles and all of these sorts of things that appear to kids. loly pops. a 2-year-old gi

technology or in industrial companies, he's going >> all right, trish regan of "street smart," and it is time now for "money moves with deirdre bolton. " ♪ >> welcome to "money moves," where we focus on alternative assets. i am deirdre bolton. we show you what entrepreneurs are doing, as well as what is going on with private equity, real estate, and more. up someast may pick assets from charter. we will bring you the very latest on a deal that john malone, brian roberts, and other big execs are crafting. also, apple's iphone sales were lower than expected. john frankel will join us, telling us how that will affect his investment decisions, and a famous museum and a collector in jail. that is all part of south bees -- southby's. tost up, though, we take you president obama, who says he is prepared to use his executive powers in congress stand in the way of his agenda. peter joins us from the hill. peter, will there be a reckoning tone in the president's tone quest? >> he is going to outline this in the state of the union address, and it is an effort by the white house to reassert the a

trish regan it takes us behind the scenes.loggia bellagio casino nightclublusive hyde is one of the most expensive tables. part of its value is the view. 1200 water spraying robots, glass. $40 million. inside the club, the fountains are made of champagne. profitable club in vegas per square foot. the average table costs $8,000 per night. this 1, 200 $50,000. $250,000.e, the number of people who reserved the stable in 2013 -- two. that is out of control. where casinos eager to get their hands on the high rollers? trish explained. >> if you are spending a couple million box at the casino, they want to give you everything they can, they want to keep you there. macau?his competing with >> macau has done incredibly well and has significantly surpassed vegas. as to the documentary is that it looks at the challenges that we faced year for the gaming industry over the course of the last several years. it is through the eyes of that particular player whom you saw. millioned to win $15 playing blackjack within the span of a few months.

in a special one hour documentary called "the player," trish regan takes us behind the scenes.gambler don johnson. gambler don johnson. >> inside mgm's bellagio casino at the exclusive hyde nightclub is one of the most expensive tables. i like this table. >> absolutely gorgeous. >> part of its value is the view. 1200 water spraying robots, glass. $40 million. inside the club, the fountains are made of champagne. hyde is the most profitable club in vegas per square foot. the average table costs $8,000 per night. this one, $250,000. what makes it different? this red button. the cost to set off these fountains -- $10,000. the number of people who reserved the table in 2013 -- two. >> i want to keep hitting the button. >> that is out of control. where casinos eager to get their hands on the high rollers? trish explained. >> if you are spending a couple million box at the casino, they want to give you everything they can, they want to keep you there. i want to push that button. >> is this competing with macau? >> macau has done incredibly well and has significantly surpassed vegas.

. >> i will show you how to use tweetdeck, trish. are so organized.ress climbing four percent. the dow has benefited from the pickup as well. and consumer confidence met more home card purchases. says fourth quarter rockets fell -- profits fell 22%. it will issued 2014 guidance once the separation is complete. and we hear the closing bell. >> i did not realize we were off that much. >> we missed the bell by a little bit. >> profit margin growth false start of projections. it trails a 70 basis points in growth the ceo laid out in december 2012. cracks are number one stock of the day -- morgan stanley. shares up 4%, rising the most in six months. higher equity trading revenue. record wealth management earnings. >> it is a tie. >> i was going to say, there is the closing bell, but that already happened. >> chatty cathys. >> the game is down 0.4%. >> the nasdaq was up. it is curious. you are doing the same thing a little bit. all 10 sectors are down. not by a lot. everything was down, even utilities. a little bit. but still down. >> roundup? >> let's do i

trish regan explains. >> it is a new twist on an old high.is packing a heated punch. >> it is clean. >> he uses a blowtorch to get a super concentrated hit of thc. it is the chemical in marijuana that makes people hide. high. >> a joint is made up of flowers that has anywhere from 13% to 20% thc. the extract that we have today is around 90%. it is great. >> same drug, just made more potent through chemical engineering. >> it is a concentrate of cannabis. >> the flowers are rinsed with a solvent in a lab. what is left behind is almost a pure blob of thc. it is called butane hash doyle. oil. >> what jake will do is heat it up until it is red-hot. once he gets it to the point, he will put the dome on it. the dome captures all of the smoke. >> recreational use of pot is now legal in colorado and washington state. that includes davits. the legalization movement message has always been that pot is safe. as these striking videos show, amateurs have caused explosions while trying to make butane hash oil in home kitchens. there have been reports of th

trish regan explains. is a new twist on an old hide.is packing a heated punch. >> it is clean. >> he uses a blowtorch to get a super concentrated hit of thc. seelong the sides, you will -- >> a joint is made up of flowers 20% has anywhere from 13 to thc. the extract that we have today is around 90%. it is great. same drug, just made more potent through chemical engineering. it is a concentrate of cannabis. are wrist with a solvent in a lab. winston -- rinsed with a solvent in a lab. what is left behind is almost a pure blob of thc. upwhat jake will do is heat -- heated up until it is red-hot. point, hets it to the will put the dome on it. the dome captures all of the smoke. recreational use of pot is now legal in colorado and washington state. that includes davits. as these striking videos show, amateurs have caused explosions while trying to make butane hash oil in home kitchens. of themve been reports passing out from intense highs. whathas some worried about that means for the newly legal marijuana business. >> certainly. we do not n

thank you, and trish regan. thank you very much, jon erlichman. and our editor-at-large, cory johnson, in san francisco. coming up, bitcoin pushes his luck in las vegas. what makes casinos different than others? they accept bitcoin. that is next. >> this is "taking stock" on bloomberg. i am pimm fox. breaking news. berkshire anhaway is said to face investigation on systemic risk. bearish on bitcoin. 47 of respondents say to sell the online currency. 11% said by, and 35% have no idea. my next guest has an idea. he is bullish on that -- on bitcoin. takeasino and hotel's now bitcoin. you with us.o have explain a little bit how you can use bitcoin in a casino. >> well, good afternoon. for us, we are going to do this for both hotels and our restaurants and our gift shop. up and todayirst is opening day. >> can you describe what the steps are if someone walks into one of your restaurants and tries to pay the bill and says here is my bitcoin? >> no problem. you will out your electronic wallet, it matches up with the system we have. that way you can compl

trish regan has just spoken with carl icahn. i know that apple has been trading down today.that as an opportunity? >> he sure did. he bought another $500 million worth of stock, bringing his stake up to more than $4 billion and buy some of my calculations, one of the largest shareholders in apple right now. there has been a lot of criticism about his plan. he has been outspoken. -- dinnerh dinner with tim cook and has pushed for this buyback. he would like to see $50 billion a year in a buyback plan. it is something that has come under criticism with a lot of people saying that is too much. there are better things to be doing with the money right now, including buying new companies, investing in people and in tech knowledge he. i asked him about it -- in technology. i asked him about it. he said that criticism is ridiculous. with the amount of money flowing with the cash towards, $50 billion should have no affect on the money available for new products. are in mind, new products incredibly important to this company. everybody has talked about the potential for an apple watch

trish regan and adam johnson continues. ♪ >> hello, everyone. i am trish regan. watching the big show. the s&p rebounding from the worst slump since june. adam johnson and i have you covered. top 10. yahoo! of nearly three percent ahead of the fourth quarter earnings report due out after the belt. marissa mayer working to attract more traffic and advertising. the results just moments away. the question is whether or not she was successful in this. >> a lot of earnings coming out after the belt. dropping.chnology weaker than expected results. they will continue to invest in any fracturing ability to take advantage of the growth happening in the clouds. storing up in the clouds rather than on your desk. >> number eight, texas industries. agreeing to buy the dealmaker valued at $2.7 billion. the construction rebound in california and texas. >> number seven, american airlines up five percent as they posted the first earnings report since merging with u.s. airways this past month. fourth-quarter sales climbed 8.7% that would exceed estimates because of travel and fair

we will continue in just a moment. ♪ >> i am trish regan.disappointments overshadowing global news as we head into the close on this very snowy tuesday afternoon. look at that. a mess outside. >> it is. i am already terrified for my drive back to westchester. >> i think there is going to be some traffic problem's. johnson & johnson weigh in on the dow here. rate to have you here for the next hour. >> a pleasure to be with you. adam was up at the crack of dawn to do surveillance. he will trudge back home. top 10 right now? >> verizon down despite fourth-quarter profits that beat estimates. less than the record 2.1 million earlier. 3 million more than analysts surveyed by bloomberg had anticipated. the phone company reaching a deal to buy an internet tv service. we have an idea what it means for you going forward. >> who knew? ibm dropping nearly one full percent. the company is due to report fourth-quarter results in just a few minutes. analysts surveyed looking for earnings per share of six dollars flat on revenue of about 28 billion. keep i

i am trish regan with erik schatzker and alix steel.get was not the only retailer hacked during the holidays. we probably all heard about that. 70 million people affected. it turns out neiman marcus was another victim. there is news that there may be many more. >> yes. the news broke on friday. we learned more details about what happened. about one million customer credit and debit cards have been compromised. let's put that into perspective. targets numbers are huge. neiman marcus is numbers pale in comparison to others in recent years. you may remember what happened bytjx, people were driving and using wi-fi to steal numbers. target has 70 million, as many as 110,000. -- 110 million. the list goes on. and, as a new englander, it is hannaford. >> i am canadian. when i go back to canada, they are using smart cards. we are not. why? don't smartcards everywhere you go? >> we are americans. we do not need them. we're the largest economy in the world, we do them our way. >> you have a good point. it is safer and more secure. you have to ent

trish regan and adam johnson joining us next. ♪ >> trish regan here alongside adam johnson.eading into the close. got out of town. i went to the bahamas. it wasounds crazy, but nice getting wet. >> we've got apple earnings less than 30 bits away. emerging markets not faring so well. argentina -- problems there, china -- >> you pull away the sugar and everyone says wait a minute. we can't buy the lesser quality names and argentina, certainly a big problem. number 10, apple coming out with numbers today. they willzgerald says give a healthy report beating estimates on the top and bottom line. full coverage of the apple results are coming up. >> xerox falling more than five percent. perform -- thet stock's valuation already inflicts the -- reflects the services and makes. >> herbalife, a seven percent rise, the most in more than a month after tim rainey, one of its biggest defenders left its analyst position to work for the company's top shareholders, joining post shareholdings. 1%number seven, cisco down -- the company's valuation is rich versus is earning attentional. >> anot

trish. checks also benefit from its confines. the super market want to use it to me i saw please critique. parts of the true test. once the r word like this one didn't. in concert. eye. thus the oddball your journey to check. on tuesday which is surrounded by the sea of japan. it's the village of commies. i do. fourteen announced its twenty four residents. it is quiet. stretched to the gentle snow like all the water and heat to keep these fields. he said with the source of abundant water. my tears this water is good in sports that spreads over the mountains behind the leech. pierce is a forest of japanese beech tree. in the past. people are nice they are used to gather wood for fires and making church as they did so. they planted saplings of the forest away the water seeps out of the woods. its region receives heavy snowfall. when you accumulated snow melts. a great amount of water is absorbed by the saudi soil ay ay ay ay ay ay ay ay water provided the forest to reach the youtube posting cummings. i know. i do the road. it's wor

i mean hindsight only to the better. >> reporter: remember trish, the neighbor he rescued?e's just amazing and i'm the lucky guy she's married to. >> because of an earthquake? >> because of an earthquake. yeah, a lot of friends said the lord shook the world to get you two together. >> reporter: in 20 years they have built a life, two children who are now teenage boys. >> it's weird to think how something catastrophic would create us. >> reporter: their mom, like many survivors, prefers to not talk about that day, but her more gregarious husband says for him this anniversary is a lesson not about endings, but beginnings. >> through the tragedy, good will come out of it. we just need to be patient. >> reporter: fast forward to today, 20 years later. this is what the area looks like. the north ridge meadows apartment address itself doesn't exist anymore. you can see that the buildings have been replaced by a more modern structure. and there is virtually no sign of the disaster that is a remnant here. there is 16 trees, though, don, marking where those people lost their lives h

my name is pa trish pa smith. i have raised my family in midtown, i have raised an extension of my family and i'm also an adoptive parent and i also have special needs children who have been bullied and also have a transgender child. i think this whole meeting sort of relates to midtown and relates to the city of san francisco. we have not been reassured up to today about our standing at midtown. on christmas eve we received a letter saying that our lease was terminated january 31. that was not a very pleasant holiday. i will read just a paragraph or more of what was said to us that day. the recently terminated lease agreement which states in paragraph 25 that in the event that the city has been paid in full, shall have the right immediately and without further notice to the lessee to enter and take full exclusive possession of the demised premises and any other space occupied by lessee by force or otherwise with or without legal process due to and expel or oust any all agents. this means once midtown park corpora

my name is pa trish pa smith. i have raised my family in midtown, i have raised an extension of my family and i'm also an adoptive parent and i also have special needs children who have been bullied and also have a transgender child. i think this whole meeting sort of relates to midtown and relates to the city of san francisco. we have not been reassured up to today about our standing at midtown. on christmas eve we received a letter saying that our lease was terminated january 31. that was not a very pleasant holiday.

-- with trish, we think , we thinkophy we have shareholders should have a lot more to say on the bigcompanies. this whole business of the eight ownership of management -- of the ownership of management, i think it is hurting the economy. i think shareholders should have more to say. the big picture, not micromanaging. we have done a lot of work on ebay. we believe without question, it is a no-brainer, paypal should be spun off. >> they are saying the break off -- for the, i can't speak board. >> you can speak for yourself with your 0.8% stake. why would ebay go for something like this? >> i will not venture to guess right now. when i think you say "goes for" you spin it off. there's no reason they should be in ourr at this point, opinion. in fact, i think it would be held for a management team to be separate and they could go the wrong way. i think the multiple would go up traumatically, and also the health of the -- would go up dramatically, and also the health of the company would be better. if the right time for an acquisition. >> is it in part the businesses are just so different

"street smart" continues with trish regan and adam johnson on the next. ♪ lex hello, everyone." is heading into the close. stocksslightly closer -- slightly lower ahead of the confirmation of janet yellen. it's time for the 10 stocks of the day -- walgreens deigning after reporting an increase in december sales. the drugstore chain says they -- same store sales were 6.1% last month as customers filled more solutions. nine, solar state is up and first solar is down. goldman upgrading them saying company is well-positioned to capitalize on the rooftop market. but it could get cut based on lower margins. shares hauling due to an analyst note, analysts say whole could befit margins increasing a discount amid higher profit margins. >> no discount there. number seven is ebay, shares falling almost three percent. getting cut to the equal weight from overweight. >> the mattress maker anticipates its fourth-quarter earnings per share will come in below the low land of the entire forecast. ailes from cyber monday through the end of december missed targets. come on, people, go out him by

trish. is it what everybody wants to know is what restrictions are going to place on that section 215 program, the bulk collection of telephone records. that includes u.s. citizens. we have some news. the president is going to announce that he would like to see the agency that holds that data to not be able -- be a government entity. they will not hold the bulk data if the president has his way. he is not saying who will hold the data. he will require the attorney general and cognos to come of a solution to that issue. another key thing, he is going to require that a judge issue individual orders for each part of the database. that may be the biggest piece of this. >> thank you so much, phil. a u.s.are a food guy and citizen as well as being a canadian citizen. we will not focus him out of the moment. what is your feeling about this? do you think the president is taking the correct step to rain this m? -- rain this m? smu travels abroad all the time, -- as someone who travels abroad all the

. ♪ >> i'm trish regan with adam johnson, we are heading into the base, and we have a snap ck.e days, but you're right. >> up more than 300 points on the dow. , thember 10, marriott tallest u.s. hotel building here in new york city. on the corner of broadway and hotel.78 room courtyard it is a pretty big building. >> let's go see if they have a bar on top, it would be fun to see the view. , these changes were made in part because the ock was's st downgraded. this security company was , -- terms of the deal not disclosed. the toymaker may miss analyst .rojections wait -- they say barbie faces misses. some are really anti-barbie. tried to buy me a g.i. joe. i was a lego guy. people do not like to give their daughters or sons barbies because -- >> it reinforces a stereotype? >> but if they wanted it, they could turn on the db, i'm just saying. >> we have gotten so politically correct, by the kid a barbie. these, irobot, up seven percent. this is the company that makes the roomba, they've a new one that scrubs the floor, the scuba . who has nothe guy idea what a sliver is -- swiffe

trish all produce more than three hundred films and hold popularize chinese kung fu films and asian cinema in the less. he co founded a singapore based film distribution and cinema chain the shawl realization in nineteen twenty four shaw brothers studios in nineteen thirty and a hong kong broadcasting conglomerate television broadcasts limited in nineteen sixty seven shaw's and alt a shawl for offering up to one million us dollars annually for achievements in astronomy mathematics and life and medical science is also doing the vehicle will four hundred million us dollars to the chinese mainland for the destruction of some five thousand education and hospital projects. hong kong this sorry chief executive see you i don't know has praised the light of the melon shawl loose ish all made valuable contributions to the development of the local entertainment industry. you don't teach you so shall it be instrumental in pushing ahead with your moment of entertainment business and the sea and have a ten am and achievements show was a well respected person four seasons nasty cough for charity includi

trish will have more on that story on "street smart."trying to break into the luxury market, difficult to create some of these relationship of high-end retailers -- relationships with high-end retailers. we are back in just a minute. ♪ >> amazons earnings out this week. largest e-commerce company wants to break into luxury. scott from these turns cool of the destroy the -- the stre earn's school of the destroy business joins us. how much velvet rope is there to cut through? >> where a product is says a lot about the branded self. it has been a big challenge for them to overcome. >> jeff bezos is a superstar. he goes personally to the head saysod cheap -- gucci, and it is good for us to make a deal, what are the chances? >> it is 50 shades of grey. distribution,ial like those that you can buy online. you can do to feel it deals were you do not distribute, but you can see an ad that goes right to the product page. just not distribute the so there is a lot of nuance. >> so amazon can say we're not really a direct retailer, we are just a pla

if i go to you for a deal and i do not like it, i go to trish. >> how difficult is it going to be for mary barra to keep a guy happy?n he was the cfo, now he is the president. how tough is it because we have seen what happened to ge? ammann may not be exactly what she wants, but she is getting delivered him. >> will she ever fully trust him? he was always be worried gunning for her job? >> i do not know mary barra, so i do not know what her style is. she might have a style that accepts having someone next-door that is shooting bullets rather than giving hugs. i do not know. >> big deal, a woman. i like to see that. you think about the change in corporate culture. >> we have jeannie at ibm. >> you could still lift them on one and. -- one hand. >> we are watching apple. china mobile is offering a free iphone with the most expensive data plan and it is subsidizing the phone if you get the basic plan. part of the reason the child -- the iphone was not selling was because it was too expensive. what kind of revenue opportunity does that unlock in a company that is eating up all of the smart

trish is not. she will be back at 3:00 for street smart. miss her special tonight. .t is fantastic are tonight at 9:00, we have been waiting for eight weeks -- for it for weeks. ♪ tuned for0 a.m., stay my conversation with mike bloomberg and bill gates on philanthropy. we will be speaking about both of the billionaires'extensive efforts, including the letter that was released this morning. ceo,be talking to the harold hamm, who is joining in. and also morton zuckerman, will as will be joining us well. speaking about giving and taking and whether that works wonders for your own career, my new book with ceo saying what you need to know to get ahead, ask some of the top leaders in the business world come including the aig ceo . what were the biggest qualities that led to their success? here of the beste advice they were ever given. you have to work hard. there is no getting away from that. you have to prepare like crazy. this sounds counterintuitive to the first and maybe the second, but family has to come first. the easy switch, but the guy w

trish regan went to colorado to investigate. is a new twist on an old hide. high. >> really clean.re. >> he uses a blowtorch to get a simple concentrated hit of thc, the chemical in marijuana that makes people high. >> along the side you will see these. >> adjoint is made up of flowers which has anywhere from three to as high as 20%. the extract we have here today is around 90%. as crack is to cocaine, davin is to pot. same drug, just made more potent through chemical engineering. inhaled, orextract marijuana flowers are rinsed with a solvent in the lab. .> it goes in through the tank it comes out of the bottom into the collect your number right here. what is left the hine is a sticky, almost pure glob of thc. >> this is the concentrated part. it will heat up until it is red- hot. he will put a doma on it. the doma a sickly captures all of the smoke. dome captures all of the smoke. coloradonow legal in and now washington state. the mayor water -- marijuana rationalization is it is safe. as the striking video show, amateurs have cost explosions while trying to make it in home kitche

don johnson knows a thing or two about betting in vegas and trish regan went behind-the-scenes.story about how one no- name card shark became a vegas legend, winning $15 million in the matter of months will stop >> every gambler knows when you play at the casino, the art -- that on star not in your favor. the house always wins and the rules are set in stone. >> if you play the big six wheel , the wheel right in front of the casino, you don't have much of a chance. >> he's the ceo of mgm which it owns a third of the casinos on the vegas strip. but let's say you're going to spend a thousand dollars will stop theoretically, we are going to win 20% of the money you circulate. >> on average, you will lose 20% of the money you play. but what if you could change the rules and twist the odds? >> we will negotiate for high- end players. johnson is a blackjack player who won $15 million in atlantic city in a single winning streak. >> i beat them big. >> is because he's in industry insider who knows what to negotiate before he stepped into the casino. for starters, he wants a that's. >> th

. >> live from new york, i am trish regan. >> i am mark crumpton. welcome to "street smart."ing into the final minutes of trading. stocks across the globe are tumbling. the dow is heading to the worst week since 2012. it is now off 255 points. we are seeing a selloff in emerging-market currencies. we will tell you what is behind he

i am trish regan. we have full team coverage of tonight's state of the union address.ned by al hunt and josh green here in new york. white house correspondent julianna goldman is with us from washington. al, i went to start with you. there were something special about a night like tonight. it is part of our tradition as a nation. >> the majesty of this venue is maic

trish regan found out. knows, the odds are not in your favor.wins, roles are set in stone. play the big six wheel, right in the front of the casino, you do not have a chance. is ceo of mgm, which owns one third of the casinos on the vegas strip. >> you will spend about $1000, we will win $200 from you, about 20% of the money. average, you will lose 20% of the money you play. what if you could change the rules and twist the odds? >> they will negotiate for high end players. johnson $115 million in atlantic city and a single winning streak. >> i beat big. >> he is an industry insider who knows exactly what to negotiate before he steps in a casino. for starters, big bets. >> they were letting me play $25,000 a hand, $75,000 a swing, it is not hard to win $4 million. >> it is not hard to lose $4 million. >> i did not have $4 million to lose. >> he negotiates a 20% rebate off of all of his losses. he turns his attention to the rules of the game. >> walk me through the rules that they were -- that were so advantageous. thetanding on soft 17, dealer ge

our own trish regan travel to denver to find out more.ew twist on an old high -- this is a blowtorch? >> this gets it done quickly. >> it is packing a heated punch was >> rocklin, very pure, lots of people are feeling this is the new wave of cannabis is days. blowtorch to get a super concentrated hit of thc, the chemical in marijuana that makes people high. >> along the side, you will see all of our mothers. >> they sell pot in denver. >> the joint is made up of flowers which has anywhere from a 13 or send to a high of 20% thc. what we have today is around 90%. >> 90%? >> ef. it is great. -- as crack is to cocaine, dabbing is to pot. >> it is just a concentrate of cannabis. >> to make the thc extract and held in dabbing, marijuana flowers are rinsed with a solvent in a wrap. >> a goes into the tank through over thewashes extraction, goes through the bottom into the collector. >> what is left behind is a sticky, almost pure blob of thc called butane hash oil. >> what jake will do is clean up the ports now until it is red- hot. once he gets

i am trish regan. >> i am mark crumpton. welcome to "street smart"

. >> we ran a story on a bike trish regan.alking about a threat to the business model. >> i find it extraordinary. they even got comment from the trade body which is called the national cannabis industry association. they have a run on these places selling the stuff. lines,are going up, long stores are selling out. the price has gone up almost two full to they started selling it. >> if you legalize it in just two parts of america, people start -- people might gather in those places. an issueis a point of of vertical integration. now we are going into the business law. the places that sell it after gross 70% of it and they're only allowed to buy a small portion from other growers. expect them to grow a whole lot more in the future. >> have you been to colorado? >> i have. the one thing i thought -- find slightly distressing but this photo. are any of these people going to go skiing under the influence? that would not be good. switzerland,and they have a little bit of schnapps before they hit the slopes. why would it be any wors

i'm trish regan. have a wonderful light. ♪ >> this is a midterm election year. >> it seemed like it was utterly .anal >> there was one thing today. there were some things on the .arned income tax credit it is more to create an image. i was watching your telecast. they thought that not much was .iscussed in inequality that's not a vote-getter. theou are talking about minimum wage? >> if you don't make enough money, the government will actually give you some. is the most efficient way of addressing poverty than addressing the minimum wage. thought snowden won. the fact that the administration back at all the little bit on surveillance policy is a huge, .uge change generally it's about political theater. >> a speaker we have come to expect amazing oratory, it fell flat and that will be the criticism we will see in the coming hours and days. eventually people will forget about it because he did not outline many bold initiatives other than a few relatively modest things he might be able to achieve unilater

program will be anchored by trish regan.ng to a major development in the world of technology in health care, a company called is america's largest optical ensure. they provide insurance to 60 million individuals. they maintain a network of 30 million providers. they announced a partnership with google and with me to tell me more is jim mcgrann. he is the resident of vsp vision care. he joins us from sacramento, california. i noticed that you are not necessarily wearing google glass right now because they are not readily available. when they are, what should we all come to you? you will help us pay for this? >> exactly. great to be here. thank you for having me. this is a pair of them right now. the new prescription eyewear that is being launched today. he is the global -- vsp global is excited about being involved here. we're excited for our doctors and six to 4 million mappers. we are made up of four businesses. covers onecare which in five americans. we also have the third largest designer and distributor of eyewear as a c

. ♪ ♪ ♪ >> we got a big selloff underway live from bloomberg headquarters in new york, i'm trish regan, welcome to "street smart" on this thursday. >> we're seeing a lot of downside. here we are just about an hour from the close. we have the s&p and dow off better than 1%. a pretty down day all around. the nasdaq down almost a percent. we have a lot to cover. on the agenda, we're talking about h.l.f., the drama playing out on capitol hill. shares are plummeting

you can watch the full program done by trish regan later in the program. staying on gambling.ino tycoon has become the richest man in asia. estatetook a real developer for the number one number onefor the spot. if you look at casinos, a cable that costs 250,000 dollars. you understand why they are becoming the richest men in the world. >> there is a name for the casino business right now. it is booming and macau is seven times larger than las vegas is right now. richest man in asia, one of three major casino operators in macau right now. 90% of his revenue is coming from macau. it is a good time for him. trend for casinos going to continue? >> it seems to be tied to the chinese tourists. they are the ones that are flocking to macau. all over the world, they are trying to cater to and draw in the chinese dollar. everyone is trying to get the chinese consumer. macau is the closest place for them to go. benefits from the rise of casinos. is it the luxury makers in the london casinos? >> no doubt. luxury is having a boom much like the casinos. it is uncertain economic times. realt

we convened a panel of celebrity judges, morning anchors, aaron and yang and trish thompson.hey did their due diligence. >> what were you looking for? >> looking for creativity and looking to keep people warm and how people are responding to their special headgear. >> reporter: and now in no particular order, the five finalists in the best snow hat snow stick challenge! the sea urchin hat. it looks both scary and warm. the baby pat hat. how cute is that? hey, justor the record, there's no relationship here. the turkey hat. now, there were a lot of animal entry, but this one the judges liked best. hat for two. one hat, two people. it's cozy and no one gets lost. the well-dressed hat, warm and functional. but at the same time, dignified and fashionable. so which one do you like? which one would you pick? which one will get the stick? the winner coming up at 6:00. i'm pat collins live in northwest. >> that's a tough choice. you have really great finalists there, pat. >> reporter: i have to tell you. you really want to watch the story at 6:00, it's special. >> you better look out

i'm trish regan. join me for an unprecedented look inside america's marijuana industry.

expansion of the food stamp program, to, and i quote, provide families enough food stamps to provide a new trish neal diet. and this farm bill cuts deeply into food stamps and i ask again how can you do this? food stamps have seen deep and dangerous cuts. if you look at the fridge in the picture i'm holding up, this represents where we should be in terms of access to food. but because of the recent expiration of the recovery act provisions, food stamps have already been cut by $5 billion next year, and they will be cut by $11 billion over the next three years. on november 1, 2013, snap benefits were reduced about $36 less for a family of four each month. this means, this means that a family of four that loses $36 or 16 meals a month in support. that's the difference between health and hunger. now this congress wants to enact nother $8.5 billion in cuts, meaning an additional $90 per month and that much more food taken away from 850,000 households. this is the proposed farm bill. snap cuts would result in 850,000 households, 1.7 million people losing almost $90 a month in monthly benefits. and al

aboutis growing optimism the global recovery, but jean-claude trish a warns of working problems. all that and more in this monday edition of "asia edge." >> we are keeping a close watch on markets today. the selloff is happening across the region. it is not just limited to the emerging markets where we have seen a spike in volatility in recent days. this all started on wall street and indeed in the european section last week. it is filtering through to the asia-pacific. the nikkei 225 down two point five percent. stocks are lower by 2% in hong kong. check out emerging markets. jakarta, down by nearly 3% today as investors assess the economic health of these countries and whether some of the concerns we have seen in recent days are limited to individual countries or a broad-based problem affecting emerging markets. we have seen currencies selloff precipitously in this space, and we have seen a flight to safety as investors pile into precious metals like gold and silver. it is a very active day in the equity markets and in other asset classes across asia. for theowest level overall

. >> to trish give us examples of the red flags that were ignored. >> well, the government in an unusuallytement of facts, it's an admission of responsibility. a mea culpa of what the bank employees were talking and saying privately about madoff which is kind of incriminating. for example there's bun point in june 2007 where one employee speculated thtt madoff and his returns are speculated to be part of a ponzi scheme. in december 1998, jpmorgan manager said his returns are, quote, too good to be true and there were too many red flags, end quote. and the last, most significant thing, was four months before madoff basically admits that he has conduct add ponzi scheme that has gone on for decades in december 2008, jpmorgan in october 2008 was really concerned and redeemed $275 million of its own money from its investing with madoff, and at one point, one of the traders said in october 16, 2008, weeks before madoff's fraud was uncovered "there are many elements in the story that make us inference" and later when madoff was arrested in 2008, one madoff employee remarked to another one "can't

. ♪ >> i am here with trish regan.ur guest host, bill cohen. >> we have been talking a lot about banks and goldman earnings out. city earnings out. not so good there. one trend is really clear. salary. they are declining in terms of what the bankers are making. bonuses these days are not as good as they were before. the am dying to hear what founder of venture capital has to say about it. now teachestion startup 101 at draper university. beingyou very much for here. >> thank you for having me. >> let's talk about the growing divide between what is happening on wall street and what is happening on silicon valley, a world you know by virtue of being a venture capitalist. on the subject of bonuses, goldman sachs is still a lucrative place to work. average compensation about goldman sachs was $384,000. less than it was in 2010. what would you say to a 23-year- graduating from stanford or 24-year-old with an mba? go to goldman sachs? >> no. draper university. we set the school up so people like that not quite knowing what t

i am joined by trish reagan, who brings us a first on bloomberg interview. >> capital earnings crossedter earnings being who estimates this morning, authorizing a new $10 billion buyback. we have the chairman and ceo, doug from p aurea, illinois. always good to see you. good news on the buyback, on the