because there aren't the jobs in the middle, wilbur? another reason many say they're mad because they see 95% of the income gains of the recovery have gone to the top 1%, they haven't been shared and they're very concerned about that the reason they haven't been shared is the lack of upward mobility [ bleep ] i got out of school, out of harvard business school, i had what in those days was quite a lot of student debt. so what did i do? shared an apartment with some other guys in new york. saved up. each month gradually paid down the debt and eventually worked my way out of it. people nowadays seem to feel that they can borrow the money, and as i understand it, some of these student loan programs not only lend them the tuition but lend them entertainment money. when i was at school, in addition to having student aid, i had to work. >> so do you think that -- >> i had little jobs. >> do you think that -- people think they're more entitled now? they think they're entitled to a middle class way of life and don't work as hard? >> well, i thi

wilbur had died a few years earlier. they developed an airplane that was a powered biplane, no pilot. it was eye proscopicly controlled. that's sperry's input on it. and this, this hinge actually flew -- this thing actually flew. >> [inaudible] >> i beg your pardon? it was developed in 1917, 1918, and it flew, and they were starting to build them in quantity, and hap went overseas in the summer, early fall of 1918. his mission was to, well, work out the details for bringing those things over and deploying them against the germans. and if it hadn't been for the fact that this coincided with november 11th, the 11th -- you remember the 11th hour of the 11th day of the 11th month when the guns fell silent? if the guns hadn't fell silent on the 3 19th -- 11th, the kettering bugs would have been overseas and they would have been america's first military drone in combat. so hap was planning ahead. another interesting fact about the kettering bug at which robert mentioned earlier when we were talking, this thing was, remained cl

i was trying to think of a joke for you to tell wilbur. delivery, you've got to admit. >> he's done very well. >> he has. >> i'm giving him a lot of credit right now. >> in terms of this country, wilbur, 3% this year, we had a little weather issue or is there some slowdown? can any of your assets here, can you tell whether there's something more to this than just weather? >> certainly weather was a big factor in the recent period. and that in turn led to some other kind of multiplier effects. i do think obamacare and its meaning that people don't need work in order to get health care is going to have a negative influence on the economy. you can't have more and more people making the decision not to work and expect the economy to keep growing. that i think is a very serious structural problem. and frankly, i don't regard it as a legitimate choice for an able-bodied adult to say, you know what, i prefer it not to work. so the rest of you should support me for the rest of my life. i have total sympathy for people who have disabilities for one

like sparry famous for scopes, and hap was there, and wrights were there -- well, not both wrights, wilbur dieded a few years earlier. they developed an airplane that was powered biplane, no pilot. it was controlled, that's the input on it, and this thing actually flew. it was developed in 1917-18, and it flew, and they were starting to build in quantity and hap went overseas in the early fall of 1918 with the mission to, well, work out the details where they brought the things over and deployeded themselves against the germans, and if not for the fact that this coincided with november 11, the 11th hour of the 11 month, the guns fell silent. they had not fell silent on the 11, and the bugs would have been overseas, and they would have been not only america's first military drone, but the first one in combat, so hap was planning ahead, and in which robert mentioned earlier when they were talking, and this thing was quiet. classified until world war ii. it was still classified in world war ii. that's something in the memoirs hap scratched his head about, although he was proud of the fact tha

>> i think wilbur is talking about a small piece of the regulatory environment. the federal reserve has enormous capabilities, has enormous breadth of responsibility and they will execute that. i think what janet yellen said which is good is that she recognizes that the banks that they're regulating, under the collins amendment, it's important to understand that banks need to be regulated one way and we need to think about the way we regulate insurance companies and regulate in a slightly different way. that recognition is important for us and quite frankly as i've said all along, the federal reserve, working with the industry over time with come up with the right model that they can speak for all of us in the insurance companies to say that our holding companies of the insurance companies, that those are in aggregate running soundly and it won't bring down the financial system. >> are you more or less confident or about the same, seeing her testimony? do you feel comfortable with her as now the fed chair? >> i feel comfortable that she sees the issues. we'll see

wilbur had died a few years earlier. they developed an airplane that was powered by plane. no pilot. it was gyroscopic lee controlled that is very spin put on it. this thing actually flew. i beg your pardon? it was developed in 1917, 1918 and it flew and they were starting to build them in quantity and hap went over in the early fall of 1918. his mission was to work out the details for bringing those things over and deploying them against the germans. if it hadn't been for the fact this coincided with november 11, remember the 11th hour of the 11th day of the 11th month. then the kettering bugs would have been overseas and it would have been not only america's first military drone, but the first one to combat. so hap was planning ahead. another interest in fact, which robert mentioned earlier when we were talking, this thing remained classified until world war ii, was still classified in world war ii has something in his memoir that he was probably proud of the fact that something he worked on was still so secret that even though biplanes are a thing of the past, it was sti

speaking of the president and the olympics for that matter, tennis great, billie jean king, wilbur visitedat the closing ceremonies. -- will represent the u.s. at the closing ceremonies. listed to be in the opening delegation but stayed home to be with her sick mother. she is openly gay and she said she will honor her mother's legacy. a consumer alert for taco bell customers. the fast food chain as a launching a mobile ordering app for smart phones later this year. at fiveing tested locations in california. after ordering the food, the customer can pick up in the store or the drive-through. mac donald's and ship the late are experimenting -- mcdonald's and chick-fil-a are experimenting. i am not sure why that not done it before. >> i do not fully understand. that is too much work. taco bell. talking about our forecast. some nice changes. i know you enjoyed the snow on thursday. ande was a huge amount still at reagan airport. nothing like that in our future. we have a warming trend on the way. preachers are not as cold. 32 at reagan national. -- temperatures are not as cold. the wind at 20

in 1903 when orville and wilbur wright invetted the first flying machine to transport man, they lookeds, pigeons, for example, velcro created by george de mastral was mimicked by the looks at the end of bird bakes. biomimicry or copying mother nature's solution he from everything to symptomming bacteria to mixing water, could be just the thing to lead us out of the industrial revolution and into another one. thanks to one of the most feared oceanic species on the planet, reduced up to 40%. they spend their lives underwater and yet sharks remain algae, bacteria and barnacle-free. on close examination, dr. tony brennan discovered that's due to the denticles, tiny, sharp, teeth-like shapes found all over the shark's skin, he was determined to duplicate them. >> when you try to draw a shark's skin it's very difficult to do on a flat piece of paper. so i modified them. when i modified it, i came up with the sharklet pattern. first i did on that algae all over the navy ship, it stopped it 80%. nothing had ever stopped that bug other than toxins. it is not a toxin. it is a physical structure.

neil: wilbur ross out of florida.resident has decided to double down. >> america does not stand still and neitr will live. neil: not only his attorney general is convinced that he is on copper ground for this. >> and analysis is done that the president is acting in a constitutional way. >> which of those three categories would you do to delay the enforcement enforcement of the employer mandate? >> i don't remember looking at and i haven't seen the analysis. sometimes i'm not sure where along the spectrum that outcome. >> mr. president, when your own attorney general is not so sure your executive orders on the legal up and up, you might want to slow down. to eric holder's predecesor. welcome and it's good to have you back. >> it is good to be back with you. >> what you make of this because eric holder didn't want to be cornered in the moment. especially when it comes to changes in the health care law. but there are constitutional. but are they the constitutional up and up? >> every time that an executive order is signe

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sometimes at the expense of politicians and regular old schmoes who are some of the famous members of yes wilbur ross was what was called the grand swipe. somebody who is kind of the master of ceremonies but there are others like michael bloomberg who wasn't intended it's when kevin roose went but he's a member john corps time hasn't been back since he kind of embarrassed himself but . greenberg. larry fink these are just a few of the many many members who have been around i mean this organization has been around since the great depression it's incredible to me all those names you know you ask the question does going to get it wrong kalpa bay to find out thinking . do they have any sway over the global financial markets right so not is not as a group because they're essentially together to have a good time essentially forwards apple and others actually something that they do but reduce makes the point that if there had been something that had happened at the st regis where this event taken place global financial markets as we know them would have totally melted down because all of the people who

neil: wilbur ross out of florida.ed to double down. >> america does not stand still and neither will live. neil: not only his attorney general is convinced that he is on copper ground for this. what does everything mean to you? with the quicksilver cash back card from catal one, it means unlimited 1.5% cash back on everything you purchase, every day. it doesn't mean, "everything.. as long as you buy it at theas station." it doesn't mean, "everything... unl you hit your cash back limit." it means earn 1.5% cash back on every purchase,very place, every occasion, all over creation. that's what everything should mean. so consider... what's in your wallet? >>nd alysiis de thte prident is acting in a constitutional way. >> which of those three categories would you do to delay the enforcement enforcement of the employer mandate? >> i don't remember looking at and i haven't seen the analysis. sometimes i'm not sure where along the spectrum that outcome. >>resiwhen own at gens not cuti and up, you mit to slow down. to eric hol

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neil: wilbur ross out of florida.nt has decided to double down. >> america does not stand still and neither will live. il: not only his attorney general is convinced that he is general is convinced that he is on copper ground for this.you s? yes sir. alright. let's share the newstomor. today we failrly busy. tomorrow we're bood solid. we close on the hoe tomorrow. i want one of these opened up. becaustomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. >> and analysis is done that the president is acting in a constitutional way. >> which of those three categories would you do to delay the enforcement enforcement of the employer mandate? >> i don't remember looking at and i haven't seen the analysis. sometimes i'm not sure where along the spectrum that outcome. >> mr. president, when your own attorneyeneral is not so sure your executive orders on the legal u

neil: wilbur ross out of florida.nt has decided to double down. >> america does not stand still and neither will live. neil: not only his attorney general is convinced that he is [ park sounds, sound of spray paint ] ♪ we asked people a question, how much money do you think you'll need when you retire? $500,000. maybe half-million. say a million dollars. [ dan ] then we gave each person a ribbon to show how ma years that amount might last. ♪ i was trying to like pull it a littlfurther. you know, i was trying to stretch it a little bit more. [ woman ] got me to 70 years old. i'm going to have to rethink this thing. [ man ] i looked around t everybody else and i was like, "are you kidding me?" [ dan ] it's just human nature to focus on the here and now. sit's hard to imagine h much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready r a longer retirement. ♪ ♪ >> and analysis is done that the president is acting in a constitutional way. >>

neil: wilbur ross out of florida.dent has decided to double down. >> america does not stand still and neither will live. neil: not only his attorney general is convinced that he is on copper ground for this. [ male announcer ] a body at rest tends to stay at rest.. while a body in motion nds to stay in motion. staying active can ease arthris symptoms. but if you have arthritis, this can bdifficult. prescription celebrex can help relieve arthritis pain and improve daily physical function so moving is easier. because just one 200mg cebrex a day can provide 24 hour relief for many with arthritis pain. and it's not a narcotic. you and your doctor should balance the benefits with the risks. all prescription nsaids, like celebrex, ibuprofen, naproxen and meloxicam have the same cardiovascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increases if you have heart disease or risk ctors such as high bloodressure or when nsaids are taken for long periods. nsaids, li

room wilbur ross former mayor of new york city michael bloomberg former new jersey governor jon quarantine architect alan greenberg former bank of america global wealth president sallie krawcheck and then citi group c.e.o. vikram and we can't leave out black rock c.e.o. larry fink as russo looked in the back of the room attempting to be as innocuous as possible he witnessed bizarre displays such as wall street execs fancy themselves as stand up comedians and performing weird al yankovic style song parodies incorporating occupy slogans into their rituals and seriously riffing on how the one percent is now a target is something relatively new for these people but the curious spectacle of male only rich boy clubs wearing drag is nothing new nor is the fact that. many secret societies to celebrate their own power and nothing exemplifies this attitude more than yale's skull and bones club a one hundred seventy two year old organization that seeks to get its members into positions of power during the two thousand and four elections that came out that bush and his opponent carried both were membe

. >> : wilbur has improved background checks for strivers the companies say it strivers including riceng service will not have to go through federal and county background checks. the states and more thorough way to screen its drivers. it wasn't the driver that was arrested for the titular manslaughter. on new year's eve police say he hit a and killed six year-old girl. he is on a crop is crosswalk on shoes that. some officials say the storm damage could be worse than superstore's city. superstore s: we're looking at satellite radar pictures this evening my entering a chance of rain in the bay area right now we're not seeing much. the hard luck changed and so tomorrow and the time that went into a wearing my hit coming up good. good answer. check it out. learning's fun now. yeah, back in our day, we didn't have u-verse high speed internet to play and learn online. all we had was that franklin fuzzypants. ah, the educational toy bear. remember when the battery went out? [ slow, deep voice ] give me your abc's. all i learned was a new definition of fear. i need some pudding. yeah, there's

a couple of boys from bicycle mechanics from dayton, ohio, name of wilbur and orville wright. [laughter] yes, hap learned to fly from the wright brothers and began a career which took him to be, as the subl on the book says, the man who invented the united states air force. his entire career became part of that, of that effort to build army aviation into an independent air force. but before i start talking about his career, willie mentioned that there were some family interviews in the book, and i depended very heavily on those and, in fact, stole a lot of great stories from hap's grandson, robert arnold, and we're very privileged to have with us today robert arnold, and i'd like to invite robert up to tell a few stories about hap's early life and career. robert? [applause] >> thank you, bill. incidentally, the book bill wrote is just terrific. most of my family members have read it by this time, and and i've got positive reviews from everybody, so given the nature of my family, when they all agree on something, you know it's pretty good. i'm not an historian, i'm a wine maker

from the loop at the edge of the city this neighborhood is home to wilbur wright college. which one is it? 10 mi. from the loop on the northwest side. >> andersonville. >> i agree. >> i don't know ... nope you're wrong. let's keep playing until the tell us to stop. according to figures, after chicago was the next largest city in illinois? >> its rockford? >> aurora? we have time for another? 1858 chicago police force that uniforms and what department's switch from volunteer to paid? fire or night watch fire with killing committee or aldermen? >> i'm going to go with fire. >> volunteer firemen right? >> and going with the night watch. >> but the with the lead anchor ... you are wrong. >> i just jumped without one. >> i would have guessed fire but i would've had three in a row. >> let's try again. more trending coming up. >> you'll get another chance. >> coming up a deal between netflix and comcast what does that mean? >> and a late night win at the daytona 500 following a six hour rain delay. it was unbelievable. stocks slipped friday as investors analyzed mixed signals abo

my pig wilbur lived to the ripe old age of 19.y, i prosecuted animal cruelty with a vengeance, and crusaded to change laws to protect animals and punish their abusers. so i was seething when i heard about what a denmark zoo did to a young giraffe this week. imagine a 2-year-old giraffe having his favorite breakfast, then taken down, shot in the head, dissected, sawed, quartered, skinned, and offered to lions who continued to tear him apart as a crowd, including small children, watched in horror. you may ask was a giraffe diseased? genetically inferior? might he have been a danger to the other animals? could the zoo not afford to keep him? the answer to each question -- no! the too's reason for the slaughter, "his genes were well represented in the zoo population." yet adoption offers poured in from other zoos around the world. one in the uk with a state of the art giraffe house. money offers as high as $600,000 from animal lovers willing to take the giraffe. the zoo's response? "there might be some inbreeding in another zoo." i do

. >> here is wilbur roth. >> the 1% is picked open for political -- on for political reasons. >> if they want stop being part of the 99%. again jonathan how much of this is political? all this rhetoric, is this just the democrats amping it up to help themselves electorally or do you think there may be more taxes coming down the pike? >> well there certainly is an agenda for the democrats like raising minimum wage and democrats are generally concerned, there's no question about it, far to the left, very concerned about income and equality, the spread between the very rich and the rich and then the rich and everybody else. but what's happening here a lot it has to do with information flows and partisanship but we have partisan media and we have people who listen to their side, we have conservatives who listen to fox news who listen to rush limbaugh. conservatives pull out these quotes, they don't even have, if president obama is, that's going to go over and over and over on fox news. that seems to sell well. that's what a lot of it is. >> but income taxes go up, obamacare is going ocost mo

i wrote a book about the wright brothers and after wilbur died horrible lived on with his spinster, spinster sister catherine, they're very close. the roosevelt relationship after polio reminds me of that relationship in the wright brothers family. devoted but not intimate. >> thank you. >> thank you. >> anybody else? >> in relation to all the things that you said, i remember they asked corbet out, famous novelist, if there's anybody in the public eye that he just thought was absolute deserve in as much praise as you can get them. and he thought for a minute and he said, well, he said, franklin d. roosevelt he thought was as close as you could ever,. >> is that right? i didn't know that. >> that made an impression on me because he was a man who understood, got everyone back to work, or got so many people back to work when they had really become pessimistic, and he overcame these odds, you know, that could, that could've been against him. and that always moves me, and it ties in so much with what you think you should with us. >> i think that's right. what she said was that the great novelist

. >> that was the voice of wilbur ross, billionaire investor and the guy you met earlier. he was welcoming other titans of wall street gathered at new york's st. regis hotel for the annual meeting of kappa beta phi, secret wall street fraternity only rumored to be in existence until now. today "new york" magazine published an amazing account of how reporter kevin roose was able to sneak into the event in january of 2012. kappa beta phi, a group with a membership roster that reads like a who's who of finance. it lists former new york mayor michael greenberg, dick fuld, and corzine, as members. the purpose of that evening at st. regis was simple, to speak among friends without the glare of the media. and to welcome 21 new members known as neophytes, all of whom were required to dress in leotards, gold sequinned skirts, with costume wigs. highlights from the group's past year came from warren stevens, investment banker worth estimated $2.5 billion who took the stage in a confederate flag hat then sang a little diddy to the tune of "dixie." ♪ in wall street land we'll make our

when the elites divide and have a countervailing force to the ugliness of the sam zells, wilbur rossese enlightened politics. franklin delano roosevelt was not exactly from the -- >> not at all. no, he wasn't. a huge part of that had to do -- right. a huge part of that had to do with grassroots movements at the time. >> yes. >> i think there is something about -- there is something about this kind of untethering that's happening. the entire structure of american society is getting so attenuated that you can live in finer and finer little slices of it. that's what was striking about the tim armstrong comment. he wasn't trying to be a jerk. he really wasn't -- >> it's cluelessness. >> he was trying to say, hey, look -- i think he was trying to say, hey, look, we're good people, of course we're going to pay for this because that's what we do for employees. but it's like not understanding what that would mean. >> i think what's really problematic is you can find cranks like that really in any walk of life. you hear about them more when they're extremely wealthy or running a company. the bo

the charter deal could have been highly over levered in my opinion, a long-term cable investor wilbur this transaction in my opinion. >> we will talk about one of your favorite subjects next, baseball. >> bring training. >> thank you for joining us. cristina alesci, and bobby valentine will sound off with us on what is next for the yankees as they say a long goodbye to -- derek jeter. reports of a new iphone in the works. how will it stack up to the competition? stay with us. ♪ >> as you may have heard, derek jeter announced he will retire at the end of the season. within two hours ticket rices surged tenfold. alex rodriguez suspended this year for using performance enhancing drugs. still with me as someone who knows a lot about baseball tom a leo hindery. also joining us now, a former pro baseball player who served as the manager of the texas rangers. bobby valentine, currently the athletic director. starting with you. the yankees do after derek jeter? derek jeter has been one of the best products. you mentioned apple coming out with a new iphone. derek jeter has basically been the i

people like wilbur ross are on there and sandyweil and jimmy lee. jon corzine, dick fuld.ut he's on the membership list. it was a who's who of wall street. i wanted to sneak in because i wanted to see what goes on behind closed doors. >> what did you see? i am i wall street enthusiast. my mind is blown and i am massively disappointed, were you? >> absolutely. >> i rented a tuxedo. i go into the saint regis hotel to see what is happening. i see a bunch of millionaires and billionaires dressed in drag. as part of the induction process, new members have to dress in drag and had to do skits and musical acts. some of these acts are quite offensive. >> offensive how? >> sexist jokes, homophobic occupydigs about the jokes. there was really offensive stuff. >> just this morning, i saw paul qualey apologizing saying my brief remarks were at the event and did not -- they were part of the spirit of the event but did not reflect my views. the thing i have a hard time with -- what was the spirit of the event? i would be humiliated if there was a hidden camera in my kitchen and if they

later today, wilbur ross takes the ceo call. then at 7:00 a.m. eastern, st.es bullard will join us as a guest host. >>> at 8:00 a.m., an exclusive interview with sam zell, and mark mow buus will join us live from rio this morning. we'll get his view on the situation in ukraine .other hot spots. we start this morning with the rising tensions in ukraine. the country's central bank governor reassuring markets that it does have enough reserves to pay off critters. the prime minister says it hopes to get international financial aid in the near future to stabilize the gorn

that was a clip from the amazing documentary "the whole gritty city" featuring one of mice guests wilburtalk about with the young people that you mentor, does that help them to relate to you better? >> yes, it does. it helps them to relate to me and it helps me to relate to them it helps me to tell kids not to go down the same roads i traveled. i was one of the most fathered and mothered children growing up. my father was a professional drummer with stevie wonder and rail charles. i came from a musical background. my mother, she kept us -- she tried to keep us out of the environmental as much as is she could, but they both had to go to work. and my brother and i, lawrence raw license who's also featured in the documentary, we had to leave our home and go to school. yes, our past and upbringing led us to what we're doing. both of us are band directors. i find it funny that at an early age i knew what i wanted to do in life. i kind of -- i kind of took on the roll of my band director, you know, herman jones, walter harris. these guys were larger than life to me and later i met isaac graves

as reporter it was like -- >> i know wilbur. he's a good guy. it was horrible?k me out into the hallway. >> i'm glad you're okay now. >> how did they out you? >> i was taking a picture of the grand finale and a guy sitting next to me, a manager grabbed my arm and said what are you doing here? i had to identify myself as a reporter, obviously. then he said you're not allowed to be here. he tried to sort of take my phone away, then i got escorted out. >> you've heard the jokes at the friar's club roast. i was a member of a secret society, tap a keg a brew. different society. >> one other question relates to populist image of wall street. we talk about "the wolf of wall street" all the time. that is an image out there that may not be representative of modern day wall street. >> never really wall street to begin with. >> it was a period piece to some extent. do you think -- now this you've spent all this time with these guys, does wall street get a good or bad name? >> i don't think the stereotype is correct. "the wolf of wall street" is one thing. when i follow the

the great depression the members include a higher profile lead such as corporate restructuring guru wilbur ross former mayor of new york city michael bloomberg former new jersey governor jon quarantine. architect alan greenberg former bank of america global wealth president sallie krawcheck and then citi group c.e.o. vikram and we can't leave out blackrock c.e.o. larry fink as russo looked in the back of the room attempting to be as innocuous as possible he witnessed bizarre displays such as wall street execs fancy themselves at stand up comedians and performing weird al yankovic style song parodies incorporating occupy slogans into their rituals and seriously riffing on how the one percent is now a target is something relatively new for these people but the curious spectacle of male only rich boy clubs wearing drag is nothing new nor is the fact that congregate many secret societies to celebrate their own power and nothing exemplifies this attitude more than yale's skull and bones club a one hundred seventy two year old organization that seeks to get its members into positions of power du