betweenare heating up men's wearhouse and joseph a banks.en's wearhouse is stepping up in an effort to buy banks. the clothing company took the fight directly to shareholders by increasing the offer to $1.6 billion. cristina alesci is back to give us the update on this renewed attempt. ais is a lot of money for cheap suit. >> and it keeps getting more expensive. au can never pay too much for cheap suit. but the valuations in this fight -- the fight keep striving the valuations higher on the steel. if you look at the evaluation, it is 57 and $.50 offer, that represents 9.4 times ebit off. these stocks were both trading at five or six times a couple of months ago before this started. you can see things heating up and this just got ugly. men's wearhouse is going hostile, going directly to shareholders, saying we are going to ignore you and go to shareholders. let's not forget joseph a banks started this fight act cannot sober when it try to take advantage of the fact they had just tossed out their founder. they thought they were in a vulnerable

bank refuses a takeover bid by men's wearhouse.side aey smaller share of revenue to pay its employees of the investment banking and trading division. down for five percent from a year earlier. fourth-quarter earnings that trailed analyst as a mets -- estimates. full results will be released by 20th. january >> national security agency does tost, they have the ability under a variety of communications. were some see an obstacle, some seem an opportunity to protect your privacy. -- a phone that aims to protect your energy -- identity while you browse the internet. what is the product that you hopes to ensure anonymity when surfing the web? aboute blog is all personal privacy, and one of the issues they have is that as they are surfing the sites they go to every day, there are a lot of people that are following them, understanding who they are aware they are, and where they are going to. we are trying to bring back personal privacy on the internet. >> you have a $49 device, what does it do? >> this box takes about 60 seconds to instal

men's wearhouse -- >> you look great. wearhouse?ght by joeot they're stepping up their efforts to by joseph a bank. the hostile bid tingling a new stage in the takeover battle. -- signaling a new stage in the takeover battle. again, higher than the previous bid. it is unbelievable, urged to resume bank wanted to buy that just of a-- first bank wanted to buy men's wearhouse, and notice the other way around. >> do they not have to get a loan? becauseis the problem, there hasn't been some acrimonious talk from both sides. ,irst, you had men's wearhouse joseph a bank had been trading above the men's warehouse offer price. now the higher bid has come, and they are trading below it. that seems to indicate that it is more likely now that the deal will get done at this price command the shareable's will be able to come in -- the shareholders will be able to come in. >> how much room is there really? we were making fun of it earlier, but in this environment where men are nothing increasingly casual, and you have no child today -- tie on in m

men's wearhouse firing the latest shot in the battle with jos a bank.month jos a bank rejected a men's wearhouse takeover bid of $1.5 million. as you could hear earlier this week, a finalized agreement between jpmorgan chase and the justice department on a settlement related to the bernie made off ponzi scheme. su keenan with me now with the latest headlines from the newsroom. reported in early december. what is the push since then? >> the devil is in the details. it is likely the announcement is what to. jamie dimon put this behind the bank. this is one of the final agreements to be hammered out after they agreed to pay her team billion dollars to settle -- $13 billion to settle lawsuits. ff arrested two years ago. therding to those close to matter, the u.s. attorney has been investigating how jpmorgan handled investments handled by made off, alleging that he -- that the company turned a blind eye. the $2 billion settlement would s victims. madoff' this is a situation where the government agrees not to prosecute for a time and possibly dismisses the ch

men's wearhouse is trying to buy jos. a. bank. the two retailers have been fighting over each other since october. men's wearhouse tried to buy jos. a. bank last month, that deal was rejected, so here we go again. democrats want to play ball on jobless benefits. we will talk about it. in sports, the cash cow that is the nfl. we're talking the business of football is the playoffs move ahead. vladimir putin strapped on his skates and took to the ice. he is touring the olympic facilities. the 61-year-old putin's red team won the exhibition. imagine that. ♪ >> this is "lunch money." we are streaming live on bloomberg.com, your tablet, and your smart phone. in politics, it is a new year and back to business. president obama is back from vacation. he is feeling optimistic about 2014. >> we look forward to all of the possibilities of the year to come. we resolve to better ourselves and relationships with one another. >> sounds good. there is a lot on the plate this first couple of weeks. the senate is convening today and the house return

again, men's wearhouse may boost its bid for joseph a bank. share byred $57.50 joseph a bank turned it down. the company urging joseph a bank to look into negotiations and their offer. ask on the announced earnings as well. $1.91. revenue missed the mark. carol? -- all right, scarlet, thank you so much, you are watching "in the loop," on bloomberg television, streaming on your tablet, your phone, and bloomberg.com. i am carol mosso. google selling motorola mobility -- i am carol massar. google selling motorola to lenovo. why are they doing this? >> the business was a dog. >> why today by it in the first place? >> i think it is fair to ask that. a lot of the wall street community is looking forward say hey come it is a drag on earnings, it will make things less confusing, google made phones, motorola made phones. they bought a steaming pile of junk and paid $12.5 billion for it. like that is a little harsh. standpoint, they are out there with a great spin this morning that look, yes, we tried to do phones but it did not work out because as you

men's wearhouse is trying to buy jos. a. bank. the two retailers have been fighting over each other since october. men's wearhouse tried to buy jos. a. bank last month, so here we go again. democrats want to play ball on jobless benefits. we will talk about it. in sports, the cash cow that is the nfl. we're talking the business of football is the playoffs move ahead. strapped on his skates and took to the ice. he is touring the olympic facilities. 61-year-old putin's red team won the exhibition. imagine that. ♪ >> this is "lunch money." we are streaming live on bloomberg.com, your tablet, and your smart phone. in politics, it is a new year and back to business. president obama is back from vacation. he is feeling optimistic about 2014. >> we look forward to all of the possibilities of the year to come. we resolve to better ourselves and relationships with one another. >> sounds good. there is a lot on the plate this first couple of weeks. the senate is convening today and the house returns tomorrow. the agenda, extending unemploym

men's wearhouse is going hostile.ong-running battle between men's wearhouse and joseph a bank on who will be the ultimate winner. whose management team will keep their job? we have men's wearhouse taking the fight to shareholders direct a beginning a cash tender offer. they would value their suit reads taylor at $1.6 million. >> who knew that they could be so catty? is the 13th day of bitcoin. a seller of the corn wallet -- of bitcoin wallet is celebrating the one millionth sale of a wallet. nicholas, great to have you this morning. put that in context. your one millionth wallet. what does that mean exactly? >> pinkie so much for having me. it is a pleasure to be here. i do not know if you checked the price of that coin, but it might have been wise to buy one before the holidays. we are the premier bitcoin wallet. we're the first online wallet to reach one million users. this is a historic a compliment. never have we seen so much traffic. it is a real validation for the entire industry. >> is a validation, charles? >>

men's wearhouse slightly above where it is now. tender stay up until the end of march, but what you're betting on by owning this number one is that the deal happens. but you also may have josef bank come back and do the pacman, swallow them up. it's kind of interesting but i don't think you can play it here. >> goldman weighing in on the solar stock downgrading solar to sell while upgrading solar city. >> the fact they're going away from the utility going away from the rooftop. it's down almost 9%. i think that's going to be an opportunity. it's not today. i think this will last for a few days. but then i like at first solar as a great opportunity. love the solar space. i think there's plenty of room still to the upside. had a great year last year. i continue to like this year. >> google getting a bump from analysts at ubs and morgan stanley. firms raising the price target there. anthony, what do you make of this one? so much focus on the facebook and twitter and apples of the world, but still google doing pretty darn well. >> goog

they tried to take over men's wearhouse. men's wearhouse try to take over just to pay banks. going straight to the shareholders to try to make is actually happened. there are two very intense rivals, however, they are both in the same business. we also have some of the big players in this, two of the big shareholders of joseph a. banks are also among the top 30 largest for men's wearhouse. a lot of crisscross. both have run up in the last year. about 55%. back to you. dennis: the battle of cheap suits. thanks. and it looks like just about everyone has a case of the monday's. researchers saying the first monday back to work in the new year is the most miserable day of the year. some reasons include returning to work after vacation, worries about paying off holiday credit card bills, and windy weather, broken new year's resolutions, the return of my double chin. if you are feeling down, you have a lot of company. happiness loom on the horizon. researchers say valentine's day is one of the happiest days of the year unless you buy your made in vacuum cleaner. cheryl: did you make

. >>> men's wearhouse today raised its offer to buy joseph a. banks. the new bid is $1.61 billion made directly to shareholders. the new officer 4.5 pkts more than the previous one but comes with a deadline set to expire march 28th. the new bid signals new stage in takeover bid that began last year. >>> federal authorities are expected to announce a billion settlement tomorrow with j. p. morgan chase over the madoff scandal. he was convicted of running an uponzi scheme. according to today's report, jpmorgan chase and its executives will avoid prosecution in the matter. >>> wall street posted losses today. dow industrial losing 44 points. nasdaq off by 18. the losses were despite positive reports for fashg toir orders led by a surge in aircraft demand. >>> i couldn't buy my husband anything for christmas. >> an inexplicable move by the unemployment department to stop a bay area woman's payments right before the holidays. >>> how low is the water level in only reservoir? well, if i stood here a year ago, i'd be under water right now. how it's planning fo

they want the banks to start talks with men's wearhouse. that was fewer than one boeing's o. the firm says it has plans to build more planes. this is the latest from fox business, giving you the power to prosper. >> in the monday media myth is a smart phone service about to get smacked down by the supreme court? some said the move on friday to intervene in the of broadcasting studio could side with the networks. the resell the signal to $10 a month without paying the networks and a cut if the court rules in favor the nfl says it would move all games to cable. another car full breaks out the weather channel bashes the director as a deal expires next week with the new upstart weather channel right next door is ready if idiolects to go dark. is calling on viewers to contact their congressmen to say public safety is a risk. the tv critics don't buy it. sandra: don't mess with the nfl. will move lower after western powers make a deal over the nuclear program striking conversations of global oversupply. let's head to the pits at the chicago merca

the so-called "poison pills" have been put in place to prevent men's wearhouse from buying up more than 10-percent of joseph a bank stock. that threshold was lowered friday from 20%. and in the case of hertz, c-n-b-c reports activist investor carl icahn is believed to have bought up to 40-million shares of hertz on a swap. not all of it is common stock but hertz shares rose 2.4% on the news. a lack of tech specialists in washington d.c. could spur action from the government. the wall street journal reports the obama adminstration is getting ready to create a new federal unit to take on technology projects.this, of course, follows the shaky rollout of the government's heathcare.gov site, when silicon valley tech experts had to come in to help fix the flawed site. the changes are expected early this year. facebook is accused of poking around in its user's private messages. the social network is being sued for allegedly scanning private messages, then selling information to advertisers. facebook responded to the claims friday -- stating they are "without merit." the two men who filed the s

. >> men's wearhouse and joseph a. bank, the take of their dance continues. made the latest move, mounting a hostile taking itigher price directly to shareholders. it said it intends to nominate those current directors to joseph a. bank's board. jpmorgan facing a $2 billion penalty in a case tied to bernie made off. the settlement could be announced as early as tomorrow according to "the new york times." jpmorgan, madoff's primary bank, is accused of ignoring signs of his ponzi scheme. >> sirius. liberty media offered to buy the 3%pany, valuing the company above its closing price. giving liberty access to a new source of capital as it pursues a merger with time warner cable, expected imminently. let's turn to the call. earlier on "surveillance," i talked with dan alpert of of westwardital -- capital. he said now is the time to get into bonds. >> bonds are oversold. it is not just gross who is a piÑata, it is bonds at this point. again inflation and economic growth and statistics, almost any measure, bonds are oversold. eventually, we will catch up. it,here he

men's well -- men's wearhouse, on the list once again. the takeover is continuing.is a hostile bid for smaller rival, they took a smaller -- slightly higher number, intending to nominate two independent directors to the board. shares falling by the most in three months after the montgomery cut from mutual to buy, nine dollars per share on wendy's. we are also watching blackberry, discovering the smartphone maker suing the american idol host, ryan seacrest, for patent infringement. the announcement comes just days after they ended their collaboration with alicia keys. can the company afford to possibly alienate celebrities? for more on their plans, i am joined by hugo miller. hugo, we will get to the seacrest situation in a moment. there was another announcement that black area made today. they have hired a former htc executive to run their business. what is the goal therefore the device business at this point, and for this personnel change? hired a former executive at sony ericsson and htc. do not know if we should point out that both of those companies have fallen

men's wearhouse is going to shareholders in order to purchase joseph a. bank. they are raising their bid to $57.50 a share and began a cash tender offer valuing joseph a. bank at $161 billion. the offer is scheduled to expire on march 28. ireland plans to sell at least $4.1 billion of 10-year bonds according to a person familiar with the matter. the sale signaling ireland's eturn to the debt market after exiting its november 2010 bailout just last month. >> carol mentioning the cold weather. united states midwest experienced some of the coldest temperatures in 20 years. temperatures are so low and conditions have become so dangerous that schools are being closed and businesses are shutting down across the midwest. i want to go to shock traumaburg, illinois. they say hot matters, cold matters, it matters. we have the vice president of marketing, julie ryan, joining us on the phone where it is minus 15 degrees fahrenheit tonight, julie. >> it is. with the wind chill it feels like it's about minus 40. so iis definitely nice to be inside and it's actually a little

. >> men's wearhouse raised stakes for fellow suit retailer joseph a.illion offer after the $1.5 billion offer was rejected. >>> t-mobile will buy low spectrum bandwidth to allow better coverage inside buildings and rural areas. >>> yahoo! announced some advertisements on its site spread malware to users affecting 27,000 computers per hour over the past few days. the attacks primarily impacted europe and in the u.s. anyone using mack cree device are reportedly safe. >>> apple bought the owner of snapty camp. allowed users to take up to 20 pictures a second. the app is removed from the itunes store, causing speculation that it become a feature on future iphone. that is today's -- [buzzer] cheryl: well-done. lawmakers return to d.c., many members are pressing to lift the band on u.s. oil exports. david: dates back to the 70's. rich edson has the story. >> relic of 1970s aisle panic and washington should reverse it. the u.s. is more efficient and productive. oil imports are down and domestic crude production exceeded imports in november for the first time

(mens wearhouse takeover bid/online ads with twitter board) jason brooks from kcbs news. thanks.et's get a check of traffic. >>> for smaller rival joseph a. bank. that's 70 million more than men wear house's original bid going become to last year. men's wear house turned down offers from joseph a. bank for a merger. now men's wear house is taking this directly to joseph a. bank share holders in what could be a hostile takeover attempt. >>> morgan stanley downgrading the stock rating for twitter, lowering its price on the basis that tv ad dollars will increasingly go to facebox, youtube because they are bigger platforms. twitter stock is falling significantly on that news. see how the market is doing, back to normal trading levels after the two weeks of holidays. the market starting out lower this morning. the dow turned up by 3 points. nasdaq is down by 11, s and p is off by about 1 point. twitter shares down 6% on the morgan stanley dongrid. back to you. >> thank you. >>> 6:40 right now. another check on traffic. >> thanks, guys. san jose still show in those northbound lanes. th

the board of joseph a bank has rejected the unsolicited takeover offer from men's wearhouse.nd unsolicited takeover offer. the bid was up to $57.50 a share. the board has rejected that offer. they are telling stockholders not to tender shares. >> consumer, where art thou? time for a little insight in action. lastat the news over the 24 hours. ups, nintendo, and best buy trending lower. the company's guiding lower, but stocks are still up. sense.es not make any our concern is, who is next? 355 retail ande consumer stocks in the s&p 1500. on hundred 11 reporting in the next few weeks. 19 of those, analysts lowered their numbers. d, ebay, expedia, ralph lauren. if you want to see the full list , go to twitter. i posted a link to the blog. ♪ ask last year's most hated etf hoss might become the loved ones this year. tell us about some of these surprise turnarounds. >> this year so far, expect the unexpected. one example that was hated last year and is bouncing back is the ishares national municipal bond ipf -- ietf. this has bounced up 2%. it went several months without closing at

mens wearhouse is offering to acquire all outstanding shares of joseph a. banks for $57.50 per share, higher than the november offer of $55. that was a pacman situation where one guy went after the other one and he turned around to go after the other one. >>> in other news, boeing's machinists approved a crucial labor contract by a vote of 51% to 49%. the deal is that boeing will now be building the new 777x jet liner and wings in seattle. they would have considered making the plane elsewhere, or that's what they were telling people, if the workers rejected the offer. joe, over to you, sir. happy birthday. >>> thank you. >> how does it feel to be so young? >> you know, it's -- i'm glad i'm here. glad i'm here. glad i'm here, glad i -- glad i have my hair. i found it this morning. someone in this place -- glad to have my health, basically, you know. you know the drugs i take. i take -- >> really? >> well, i take the vitamin. >> right. >> and i take the fiber con. >> i know about other drugs, but we won't talk about them. >> that's not every day. that's not e

. >> i've been back to men's wearhouse three times just to see the numbers. >> you've been travelingtely hard. i have to do it. i'm kind of in a place right now where i'm forced to eat well, forced to work out. so the journey has begun on the biggest loser, i don't want it to end after the biggest loser. i want to continue to eat healthy. >> you keep working on that at home prize, as well. good luck to you both and continued success and congratulations on your marriage. >> thank you. >> you can catch "the biggest loser" tonight right here on nbc. >>> coming up next, the power of reimagining the rest of your life. >>> and later, how to heal your dry skin in this freezing winter weather with the polar vortex. but first, this is "today" on nbc. [ female announcer ] shop at safeway now through january 14th for a smart return to school box tops offer! buy ten participating box tops items in a single visit and earn sixty bonus box tops! that's six dollars for your school! plus, shop at safeway to collect double box tops on specially-marked packages. learn more at twowaystoearn.com. here's