that must come from vonnie quinn. -my morning rest my morning must-read is from "the financial times ." vonnie: it is an interesting take. it is not the economy itself, not the market selloff, it is the fact that the banks have -- tom: i did this chart the other day. they have high inflation-adjusted interest rates. the financial differential of all this turmoil out there is they have high real rates. they are dropped in the ocean. they are not the market moving events. the other thing that is interesting is the story about how china is not -- tom: i want to dovetail this idea into warren buffett and phillips 66. should we fear the capital outflows from china buying ?merican hydrocarbons this is part of our history, isn't it? the government has been very reluctant to let chinese companies invest. tom: even on a minority basis? skip: even on a minority basis. they do have some stakes and they are exploring and they are learning how to do cracking and fracking, but there have been cnpc tried toen buy china cal. vonnie: w

now top headlines with vonnie quinn. temperatures are fanning the flames in western wildfires, and draining crews trying to put them out. california has 19 major fires. one of them is sending smoke into san francisco area. fires in oregon and washington state are forcing people to flee their homes. an elderly idaho woman died when she fell trying to evacuate as a brush fire approached. a new report says at&t's involvement in government surveillance was deeper than first believed. "the new york times" says documents leaked i edward snowden described at&t as "highly collaborative" with the national security agency. and julian bond is being remembered as a giant of the civil rights movement. a longtime naacp chairman died saturday in florida af. after years as a radical student activist, -- he was 75 years old. tom: a little different approach may be that donald trump. i want to bring up our twitter question again. we usually do not do this, but we are doing it this morning. i have done a scientific analysis. we have a reco

let's get right to our top headlines with vonnie quinn. nnie: wildfires are threatening a resort town in washington state. several fires are burning and have destroyed about 75 homes and businesses. so many fires are burning across the west, 200 active duty military troops have been called in to help. sprint is the latest wireless carrier to give out a two-year mobile contract. customers will no longer get a mobile phone for a heavily discounted price. verizon dropped them this month. those contracts. coming up, we will spend -- we will speak with the french ceo marcelo claure. a study says that those who drank coffee have better survival rates of cancer. it can lower the risk of diabetes. as i take a sip of coffee -- brendan: how much coffee? is it seven cups over the course of the morning? is it three? point ofhere is a diminishing returns. we will find out that for you. walmart is going back to basics, the sam walton way. there is an idea. we will not see the results yet, but we will get a read on the americans whom are -- of the america

here is vonnie quinn. w 30,000re are firefighters and support staff battling the wildfires in the west. they will be assisted by 200 soldiers. five states are fighting 10 large wildfires each. the forest services wildfires will consume over half its budget this year. data fromo stole ashley madison our naming names -- our naming names online. said the posting includes user identities, addresses, phone numbers, and payment ownedation this site is by avid life media. the hackers want the company to shut down ashley madison and a related site. in baseball, a shakeup for the boston red sox, who are stuck in last place in the american league east. the red sox have named dave dombrowski as the head of baseball operations. he turned the florida marlins into world series champions. what is your prognosis, tom? tom: my prognosis -- this is a classic american franchise. people are thunderstruck at the rate of decline, that they just were so good and they got rapidly -- i do not think there is a soccer equivalent. bre

here is vonnie quinn. refighters in northern california are trying to stand their ground this morning against a massive wildfire. the blaze jumped containment line has -- and has grown to nearly 100 square miles. at least 13,000 people have been ordered or advised to evacuate. the fire destroyed two dozen homes 100 miles north of san francisco. the senate blocks a republican effort to end federal funding for planned parenthood, but orton opponents say the battle is not over. several republicans -- but abortion opponents say the battle is not over. the women's health realization gets $500 million a year in federal and state money. those are top headlines. tom: an important book getting real buzz right now -- "they are there and if you are not looking they will get you." technological progress is assuredly a good thing, except as most americans know, it is not. digital things like robots have crushed job formation and the traditional wage and benefit dynamics of the nation. jerry kaplan is receiving rave revi

vonnie quinn is here with top headlines. ock market is back in business but the reopening after a five-week shutdown was not waiting for. an official said the country's economic output -- outlook does not look right. -- shares of two major banks fell. trading was soft. capital controls were imposed. a european commission spokeswoman is saying that eu serious deterioration in the greek economy. president obama is taking his plan to fight global warming to the american people, making a televised address this afternoon. he previewed his proposal by hosting a video on twitter. he is calling for cutting emissions from u.s. power plants by nearly one third within 15 years. republicans are already fighting the plan. mitch mcconnell is telling all 50 governors not to obey the numeral. america accounts for about 1/7 of the world's emissions. you can see the president's address on bloomberg tv at 2:15 p.m. eastern. john kerry is on a fencemending swing for the middle east, where he willatar address concerns about the nuclear agreement

i am brendan greeley with vonnie quinn. e is out today, but he has been e-mailing in guest suggestions. what a difference in our makes. vonnie: this has been a phenomenal month for us, and market events around the world. brendan: it has been the next extraordinary august. janet yellen is not going around the world, but the rest of the central bankers are. there is almost too much. vonnie: everything is ok, as it turns up your let's start with this morning headlines. a developing story we're following this morning -- china cutting a key interest rate after another steep drive in its stock market. 5th interest-rate cut. these moves come after the shanghai composite fell by more than 7%. of its more than 1/5 value since thursday. the latest attempt to stop the economy's retreat. if chinese troubles are not today. int europe the s&p 500 is coming off the biggest two-day drop in more than six years, so same thing in the u.s. futures indicate stocks will open higher. oil rebounding today. climbedtermediate has somewhat, it fell mo

♪ brendan: this is "bloomberg surveillance", i am brendan greeley with vonnie quinn. ut today. we're watching a role west from china. almost 2.4%.e down that is one of the many stories happening. vonnie as one of our headlines. and washingtone state. the smoke from a wildfire is going away. a tanker plane rejoin the fight. it has scorched nearly 400 square miles. only 10% is contained. there are 16 major wildfires across washington. netflix is getting a partner for its debut month in japan. it is teaming up with one of the country's largest mobile carriers. netflix can now sign up numbers through their outlets and website. of green bay's top players may be gone for the year. yesterday in ae preseason game against pittsburgh. the nfl network says he'd suffered a torn acl, usually a season-ending injury. michael holland is making some noises beside me. it is a sad day for michael. brendan: it is worse for mr. nelson. vonnie: that is true. the carnagehere is any markets. i think we decided we could use that term -- more evident than in emerging markets. that has people ha

now top headlines with vonnie quinn. stead of shedding the light on the malaysian airline mystery, the discovery of a plane part is adding to the confusion. the wing section was found on an island. but french officials dispute that. say they have still not proved that the wing flap is from the jet that vanish last year. vladimir putin's feud with the west is turning into a food fight. he ordered tons of cheese and produce. russia was sanctioned for seizing crimea last year. president obama and his family are starting their vacation one day early, at martha's vineyard this evening. they are planning 17 days. for the president, lots of golf. is there six visit there since 2009. beautiful golfing. tom: i have been there when they shut down the presidential roads. it is a little difficult, those two-lane roads on the vineyard. it is great. i saw a robert wolf, one of the president's close friends, on fifth avenue here. somehow i think mr. wolf can get some golf time out at the vineyard. vonnie: 34? 68? actually good that our

let's get to top headlines with vonnie quinn. s for a caresponsibly bombing in egypt. 29 people were hurt in the explosion at a government building in cairo. islamic state's message said the attack was vengeance for the execution of six militants. commodities firms working hard after posting earnings. fell, the stock is down 17% since the company went public for years ago. when lebron james tweets, people listen, at least according to a company that handles media for athletes here he says each of the twitter messages is worth $140,000. do the math, that is $1000 per character. the nba superstar has more than 23 million followers. no other sport star is even close. with that said, you can tweak us. brendan: @bhgreeley! vonnie: we can boost those tweets. brendan: absolutely. i am like lebron james in many ways. vonnie: i am maybe $.95 per character. tom: steve roach is with us. we say don't panic. the route of emerging markets will lead to outright bankruptcy, forced combination of businesses, but out of massive currency adjustments

here are top headlines with vonnie quinn. nnie: production snagged deliveries of tesla's new suv's, the model asked. x. shares fell on the news after gaining 21% this year. germany's factory orders jumped 2% in june or analysts expected an increase of only .2%. benefiting from low unemployment in the euro area's recovery. and bank of america is pulling its money from john poulter john paulson's hedge funds. they are pulling $80 million from it because of a liquid investments and elevated volatility. days ago, disney cut its forecast for cable television products. down 5%,d of the day, disney down 11%, time warner down 7%. today we sit and wonder about the future of cable television. paul sweeney of bloomberg intelligence is here with us. dish and liberty global, which makes me wonder why is it better to own distribution, a channel, then it is to own the content right now? paul: yesterday with a media meltdown across the board. a couple of outliers yesterday dish.harlie ergen's he basically threw in the towel of the concept of

let's get to our top headlines with vonnie quinn. vonnie: coming back to you later in the morning from washington, d.c., with those interviews. violence erupted at the demonstration marking the one-year anniversary of the death of michael brown. the unarmed black man who was killed by a police officer. [gunshots] >> get down. gunfire. police say a man began shooting at officers and was wounded when police returned fire. the suspect is in critical condition. donald trump is refusing to apologize for comments he made about fox news anchor megyn kelly. he is under fire for how he described her performance last thursday during the debate. he has denied he has done anything wrong and says he has no problem with women. donald trump: women are tremendous. i have had such a amazing relationship with women and in business. they are amazing executives. they are killers. if you say that about a man, it is considered a great honor. a great honor when you say it about a woman. called carly fiorina trump's comments about kelly inappropriate and off

our top headlines with vonnie quinn. vonnie: thanks, tom.authorities have arrested two dozen people in a deadly warehouse explosion. 139 people were killed in the explosion in tianjin. 11 officials are accused of neglect of duty and abuse of power. walmart will stop selling military guns because demand has dropped. the world's largest retailer plans to replace those weapons with other types of rifles. walmart says it is a business decision. the chinese billionaire is adding triathlons to his growing efforts. the company organizes ironman triathlon around the world. tom: have you ever done this? vonnie: an ironman triathlon, no. it is on my bucket list. tom: it is on my bucket list, too. the bucket sitting next to the chair with a bottle and it. vonnie: you meant not watch one, be in one? tom: thank you. to $40ut from $4 billion billion. that is from the worst of 2008 to the present and to the future prosperity. it is a new normal, a new bd ocher, and it -- mediocre, and a new great distortion. america is minting money. it is one part cost cu

vonnie quinn has more. ure that these are the correct numbers and they won't be revised later on. it has happened early before, but this is a 40 minute preview if you like, of the numbers. ism manufacturing, the headline number is disappointing. but in growth territory, 52.7. the consensus was looking for 53.5. just a bit below there, but nevertheless, growth. prices paid, that was down to 44 from 49.5 the previous month, and we will looking for 49. that was the consensus of the bloomberg economist we surveyed. once again, the ism manufacturing coming out 40 minutes early. if it is the correct data, it is disappointing in the growth territory. erik: a little bit of caution until we are absolutely certain that is the july number. stephanie: it is so often revisions come later. when we return with a rate hike, china and other uncertainties looming. how should you put your money to work question mark -- to work? christian all money reveals -- christian romani reveals good values. ♪ stephanie: welcome back. i'm

mark: the sprint ceo, marcelo claure, speaking with brendan greeley and vonnie quinn.carlet: coming up, lebron james known for giving it all on and off the court. --brings six on a new list whose number one through five? ♪ mark: cristiano ronaldo will make the room for one more trophy on his shelf. he was just named the most charitable sports star by do something.org. scarlet: donating over $83,000 to a 10-year-old fan who needed brain surgery and giving more than $7.8 million to help nepal after the earthquake. there was another instance where in 2004 he flew to and in the nation synonymy victim because young mantage of a wearing a portugal jersey with his name on the back. mark: i don't want to use the term "feel good" but it's one of those things where the philanthropic side of these people who have so much fame and fortune comes out and there are people who would door them were less fortunate. williams, serena lebron james at number six. scarlet: you know who john cena is? ke.was in magic mi you have name are an lebron james -- how much rent although actually makes

thank you so much, vonnie quinn. to come on "market have an cory and i in-depth discussion on student loan debt. student loan debt has tripled in the past 10 years. it is now expected to double in the next 10 years. is really really on the way for -- relief really on way for bor? we will break it down. ♪ olivia: students are having a tougher time repaying college loans and now the nation is facing up to 1 point st -- $1.3 trillion in education debt. the number is set to double by 2025 according to the congressional budget office. jenny lauren cryer -- covers higher education and she joins us on set. -- numbers are high-watering the number is set to double over the next 10 years. how does this happen? jenna: good question -- it is all government loans and as the price continues to rise, 3% to 5% a year, students are taking out more to afford the cost. cory: a lot more than the inflation and more than wages. what is happening when people come out of school is there ending up with so much more debt that the burden that

i am vonnie quinn along with tom keene.een a he doesn't read course go to doesn't really pay attention to charts but sometimes he does and the euro chart right now is one of them. thank you for joining us. does the euro continued to be in a safe haven or have we returned to the status quo? >> i think if we had another dreadful day in global commodities and equity prices you would still see all of the three major currencies rally against all of the commodity producers and the emerging-market currencies and of those if the world gets itself in a bad place we all push back forever in the day the fed raised rates but i don't know that we completely got out of that. vonnie: you called this week messy. does the federal reserve clear that mess? >> no. just beingyellen away from it will get pointers from jackson hole but i do think anything clears us up until we get to the data and into the run up to the fed think that is part of the problem. >> let me go to your morning note as funny did earlier. here is a different part of it put

vonnie quinn. mr. buffett going downstream over the weekend. his a value play or an energy play? tom: i'll be honest, i almost lost track of phillips 66. it will be interesting to talk about. vonnie: as summer driving season comes to a close. right now on this monday, let's get straight to our top headlines. here's vonnie quinn. vonnie: stocks headed for the worst month in more than three years. msci global index down more than 6% in august, and chinese stocks continue the largest two-month selloffsi

joining me, vonnie quinn in brendan greeley. the kids are going back to school.he fourth week of august. brendan: i am barely aware that they are there to begin with. they are so well behaved, they are likely on trap -- like the von trapp family. tom: here are top headlines with vonnie quinn. vonnie: good monday morning to everybody. after going dark for five weeks, the greek stock market reopens today, and some investors probably wish it happened -- some invest

i'm vonnie quinn. it is boosting its forecast. trading higher by more than 3%. that comp were up 6%. that is double the estimates. the ceo said in the press release that the third quarter is off to a solid start. home goods is one of the areas where they are seeing the best improvements. 5%% increase as opposed to in 2015. that is in line with some of the housing data we are getting. cory: the future of the american highway. traditional automakers face competition from tech companies. right inside the -- of their car. they're all trying to acquire the most detailed maps on the road. there is a car race underway pitting traditional automakers against upstarts in silicon valley. getting self driving cars on the road first. and maps are the fuel in this race. >> it was really about getting from a to b. there transitioning from becoming visual. it not only helps you get there but helps the car drive. >> it is also knowing everything in real-time. >> it is extremely cultural. bmw and audid eat o team up to acquire nokia's map division? they are afraid of ceding contr

let's get over to vonnie quinn. even though 1.22 is the best of the forecast, they were up 2.4% in terms of cocktails. comp sales. the estimate was 2.2%. it is the beginning of the back-to-school season. we will see more from the press release in terms of the year forecast. adjusted earnings per share for 60-475 460-475. that is a raise. a pretty good outlook for target. we are seeing shares spike in early trading. they are now up to a three quarters of a percent. olivia: thank you so much. time now for this morning's top stories. greece's third bailout has cleared a hurdle. the parliament overwhelmingly voted in favor of the package in germany. there are now 30,000 firefighters battling wildfires in the west. they are being assisted by 200 soldiers. five states are battling 10 wildfires each. the world's second-largest home-improvement chain. lowe's posted second-quarter profits. the rebound and home prices led to consumer spending more on their houses but that did not translate into robust sales. do it model being

vonnie quinn has the details. three billion dollar deal.ill by dell. -- buy belk. it is a private equity firm known for buying slumping equity firms. out and the it price tag is $60 a share. that totals to about $3 billion. once again, this is in a share and be sure type of situation. majority voting power will vote in favor of this acquisition. erik: vonnie quinn with the latest of belk being acquired by sycamore partners. find out why james west tells us ."here will be blood pic ♪ erik: you have not seen this since 2009. u.s. crude selling for less than $40 a barrel and even less this -- $38.81.38 81 there will be blood and he is with us from north carolina. what do you mean there will be blood? i do not mean to use smile, i just love the reference to the movie. james: it is going to be ugly for the next two-three quarters for the oil industry. i think we will lose one third of the competition that came into the u.s. market during the shale revolution through bankruptcies or assets investiture is. it is going to be a very challenging mark

here is vonnie quinn. vonnie: thanks, tom.

brendan greeley and vonnie quinn here as well. america -- but is it anymore? brendan: it used to be the best logistics, and one of the things we are learning is that they are behind in logistics. marines too hire help them figure this out, and now they cannot do what amazon does. right now, though, what an amazing market. let's get to top headlines. here is vonnie quinn. vonnie: investors in china may be betting that the government will

tom keene, brendan greeley, julie hyman in for vonnie quinn.n with vice chairman stanley fischer here on inflation. the problem is not with the part that is unusual with the mandate, namely unemployment -- that is doing just fine -- it is with the inflation part. if we were just inflation target ers, we would be any same situation we are in now, we would have to do even more probably if that were possible. tom: addressing the challenges that the fed in the bank of england have as well. jeffrey rosenberg with us a blackrock. that with the saw bank of england last week. what is the likelihood that janet yellen's fed will blink on september 17? jeffrey: we just talked about it in terms of the global and international the relevant, and those international developers are having an effect on some of the signals that the fed might gauges. so inflation expectations and the market have been coming down because you have this concern on global growth. it is not just about china. you have many areas of the rest of the world outside of the u.s. and outside

here is vonnie quinn. vonnie: company far, far away. the national rate of one point 6% r

once take it to vonnie quinn with more details. ie: carl riccadonna hit it on the head. 3.7% is the revision to second-quarter gdp. 3.2%mists were looking for . that was a big up from the big reading -- from the first 3.7%ng which was 2.3%. annualized gdp for the second quarter. if we look at some of the details, consumption came in on consensus at 3.1% of again. if we look at the inflation data, core pc came in at 1.8% and that was as economists were forecasting. jobless claims as well. we didn't see a drop from last week by 6000 to 271,000 people claiming benefits. futures higher and they are continuing to expand and in terms of treasuries, a little selling. all told, it is being received well in the markets. erik: let's return to the conversation with bob michele. these are very old data but they do tell us something. bob: it feels like bill dudley may have to have another press conference. i think the data looks pretty good. going into the third quarter the u.s. economy was fairly healthy. we looked at personal consumption expen

joining me is vonnie quinn and brendan greeley and jackson hole with protesters. protest began last year. they have joseph stiglitz. tom: i do not care what honorablypolitics is, -- vonnie: saying this is not a recovery. tom: some of the color from jackson hole, we will have much more through the hour. let's get to our top headlines. vonnie: stocks in china rallying for a second straight date making investors. china resumed yesterday. china's leaders want things to look good for a major military ceremony next week, the state agency that prop that share prices says direct stock purchases will probably end in a month or two. the u.s. rally may be running out of steam as s&p features are having a lower open, coming up its biggest rally in six years. oil is headed for its biggest weekly gain since april, the west texas intermediate up again , crude prices rose 10% yesterday after u.s. second-quarter gdp figures were revised upward. where do ringo is drenched with rain this morning by tropical storm erika -- puerto rico is drenched with rain this morning by tropical sto

with me, vonnie quinn this morning. 10 years on. it is so hard to believe.ed with the city to have moved down there. tom: my one memory is the sugar down -- superdome, whatever it is called. vonnie: it is an amazing story of rebirth. tom: much more on the markets. we almost get back to a little bit of normality. vonnie: grief stricken colleagues of two murdered tv

vonnie quinn did not watch the debate. brendan greeley watched every second away from it.hn kasich. they went for everybody's jugular, but i am completely in the tank for john kasich. he seems to have paid attention to what ronald reagan actually said and did, which is he showed optimism and he was capable of compromise. it was amazing to listen to that. tom: we thank you for staying up and watching every minute of it. she did not

initial jobless claims, vonnie quinn? what are they saying?ie: thousands unemployment benefits last week. that is the second straight time we have seen below 300,000. thes 2000 below, more than previous week and we are just on target there. the continuing claims number is also coming in on consensus. it is a little below the previous week. the four-week moving average, that is a little bit less volatile of every. , 200 60 8000, 250. that is, again, 6000 better than the previous week. erik: i want to reiterate tomorrow is an enormous day. the labor department will release the july jobs report. it will give us as good an indication as we will get of how the fed feels about rates. bear in mind where we are in the year. we will not get much. it is limited and they will not be making that decision in the last two weeks of august. this data andake make that hard decision. erik: as we have been hearing from guest after guest, that as offers forthing else a delay in a rate hike. past september. stephanie: i learn something every day here. erik: rick w

joining me, brendan greeley and vonnie quinn, in new york.to see the low interest rates. to me they are the canary in the coal mine. howdan: we've research on investors look at europe, and they are going to be asking for a higher risk premium coming up very soon for corporate debt. we will see some divergence there as well. vonnie: -26 basis points for the german two-year yield. is average two-year yield minus

let's take you to vonnie quinn in the newsroom.einal quarter showed another 5% increase in the price of homes across 20 u.s. cities according to the shiller home price index. nationally, home prices rose just about 4.5%. month over month we saw a percentof a tent of a when economists were looking for an increase of a 10th of a percent. is aome price index lagging indicator of prices. it is based on an average of three months of prices. ofis not the most immediate reads on the u.s. housing market. interesting nevertheless. you have robert shiller on later in the program in order to tell us more. erik: i can't wait. he is the cofounder of the case schiller price index. a professor at yale university. he will be here later to talk about stocks and perhaps real estate as well. metabolix at top stories. the china's central bank is freeing up money to stop -- to support the economy. the people's bank of china cut interest rates and lower the amount of cash chinese banks must set aside in the hope that they will lend it. the shanghai comp

joining me is vonnie quinn. tom keene is out. he did send an e-mail," more cowbell." pointing to a higher open. brendan: i take issue with the post showing a bear on the cover. spent last night looking up the difference between a correction and a bear. vonnie: we are three days into

vonnie quinn rumored to return and august.ched apple fall through the 200 day moving average pre-tom keene says is for at -- amateurs. i say you may not be interested in that measure but that is interested in you. olivia: that is not interested in tom keene. we've seen apple down almost 11% over the last two weeks through the big question is why it? we will be sitting down not with johnny ives but dan ives from sbr to parse through this. it was a month and a half ago where carl icon said this company is extraordinary. whether you want an iphone or not the apple ecosystem everyone was to be a part of it. brendan: here is a question from yesterday are we looking at a fundamentals question? olivia: if you look at this company and their growth and how much money they are making hand over fist. take apple versus these social media applications. they are growing and growing but on their balance sheet they are not necessarily making dough. apple makes money while you are sleeping. tom: a price target reduction on apple this morning.

joining me, brendan greeley and vonnie quinn.aking the case in front of the bundestag. we will talk with hans nichols in a second. angela merkel will not talk. we think she will put it on wolfgang schauble. we are not worried about whether this passes. the greek it will pass. we are looking at how many members of her party defect. president like the and joer

vonnie quinn is that the breaking news desk. you.e: thank we have numbers today.ant to point out that pc 1.2% and lower then the percent as the consensus. the fed is looking at that and clearly it slows. income came in on consensus of .4% but spending was not there, economist will looking for .4% and up .3%. they will look for a better start to the third quarter after those shoulder second quarter coming in at the .7% yesterday. personal income of four point -- .4% and people are not spending that oil dividend and the wages that they are getting, and inflation is tamed. the seconding for reading coming out at 10:00 eastern and that will be important. market reaction wise, futures are deteriorating and treasuries selling, so the market not liking this. not a huge reaction. matt: thank you for that. i want to get to the top stories on the kick it up with one that vonnie was discussing, oil headed for the biggest weekly gain since april. west texas intermediate selling for more than 40 two dollars a barrel and it was 10% yesterday after a report that the u.s. economy

top headlines, here is vonnie quinn. vonnie: more concerned about a slowdown in china.ts to new york. manufacturing fell to a lowest since 2009 as emerging markets had their worst week in 10 years. 5% today.more than chinese stocks have lost almost everything that was gained. europe, theacross worst day after 18 months for the s&p 500. oil headed for their eighth straight weekly boss. streak sinceosing 1986. the promised her of greece said he will quit and call for new elections. tsipras has been in office eight months but not planning to give up. an election could turn to par with a more manageable coalition. they are angry because tsipras try to get bailout money. an election can be held as soon as september 20. shares of twitter drop below ipo price of $26, down almost two thirds. the selloff was triggered when jack dorsey, interim ceo, warned that it would take a lot before twitter is able to reverse a slowdown in user growth. andsearch for a new ceo search over whether dorsey is in contention for the job and also [indiscernible] for jeb bush, no more mr. nice guy.