Ukrainian police crash proiranian demonstrators. We look at the catalyst behind the chaos. All that and more coming up. First, lets get the market. A mixed market with the dow just barely in market territory. The s p is up a quarter of a percent. A little bit of a rebound in the nasdaq up 7 10 of one percent. Up 25 points right now. Want to get to the big three. Stocks and watches as we had to the close. Olivia stearns is watching them for us. Lets start with amazon. It has been bearing the brunt of the selloff in the past couple of days. Facebook google also up high today. Investors are buying back into amazon. Amazon still has a price to earnings ratio about 578. A different story in biotech. Biotech is still down today. Leading and lowering the shares off about three percent. Come undernuing to pressure to lower its price tag of its 84,000 new pill to treat hepatitis c. Scripps came out saying, they will not reimmerse customers reimburse customers. This is an interesting story. A little changed today. This comes after a u. S. Jury ordered eli lilly along with a japanese drug company to pay 9 million in punitive damages. Little change because lily said its agreement stops them from having to pay out any damages. Thank you. We will see you shortly. Time for the big story. Comcast on capitol hill. The Company BoughtTime Warner Cable for 5 billion. It is almost done. Hearing begins tomorrow where regulators will examine whether the merger gives comcast to much power fear the merger thed make the Company Largest u. S. Operator. At a time when cable is losing out to competition to online screaming streaming, does a monopoly really mean anything anymore . Now me michael, i know you opposed to this murder merger. How much do you think media consolidation will affect competition . It will affect competition in a number of different ways. It is not just media consolidation. Consolidation of all these Cable Networks and conservatives and distributors. You wonder about the Pricing Power they have. Spoke with the executive Vice President of comcast, david cohen. I want to share with you what he had to say about competition concerns over the deal. This particular transaction actually raises few competition concerns. The number one reason why is and conquest comcast they do not compete against each other in an area. The transaction will not lead to any reduction in Consumer Choice to any market. Do you believe it will not result in reduction . Absolutely, but that is a red herring. He is talking about Cable Service and the solution will be Internet Service. Comcast has 40 of the internet provision market. You put that together with Time Warner Cable and they will have close to 50 at a lot of people are saying they will be 60 if you look at fast rod band. That makes them almost a monopoly. A monopoly of Internet Service. Comcast and top and time warner both know and everybody in cable knows there may be five years left of cable and it will all shift to the internet. That is another conversation we will get to. Why should they be willing to go forward with the merger if this is a company that will have so much control . Is therehome harm with the control . Take a look at google fiber taking out a new internet broadband service. Think about years past, different cable companies, time warner in particular, has looked at google fiber as an experiment and thrown them out. Notthey are saying, it is an experiment but they are a real threat here and a competitor. They seem at less of a monopoly. Of course. Breaking news. There is a rumor coming out of comcast that they will get heavily into the wifi business and why . Thatse it is a lot cheaper is wired to Internet Access and also puts them in the internet business. That is the future. Respects, if that is in fact the future, it sounds like could really take hold of a big portion of america, providing americans with wifi access and are maybe we should all hell threatened by this socalled monopoly. That will be up to regulators. They will have to force the regulation of Internet Service and comcast will make a lot of concession thanks to people like michael and all the other opponents testifying tomorrow. Comcast will say we have artie given at least three or four more years of Network Neutrality under our acquisition of terms, buying nbc universal. Do not worry about anything. We have got it under control. What is the number one message you want to communicate to lawmakers . Comcast is an Important Message to keep in mind. If you have a company that controls 50 of highspeed broadband in america, anyone trying to raise funds has an additional question to answer, which is, where does comcast stand on this . Less of that lot innovation and a lot more of the same old. One question that needs to be asked on your wifi point is you could say this is chipped because comcast has become a competitor from the wireless industry. Regulators broaden that out and say, you will now compete with at t and verizon, that is something we like. An interesting issue. Who ultimately wins this . Will it be the broadband wifi whatever or will it be stream crosses your mobile phone . Qwest broadband providers because it will all be wifi and internet. You we wireless tells will have tremendous video capability and it will be cheaper and faster. Cheaper is the operative word because 2535 cheaper to serve wifi van wireless. No more big cell phone towers told on top of church steeples. It will all be in the cloud. There are major capacity issues in a World Without where all of our video is going over wireless. There are spectrum issues and things working against wireless. Ultimately, time warner comcast, this will be a deal we will look back on and say what . Mostmcast is the sophisticated and successful lobbyist ever to get into media. Are you surprised . Not at all. It will go through. By the end of the year. That is what Brian Roberts is saying. Does it mean my bill is going up . It probably does. When they were asked exclusively, with his mean prices are going down, they said no. Go upot mean prices will any slower. Even if youre talking about cost production, there is no mechanism in place. There is no upside. Prices will continue to go up but youll have fewer choices. Fewer choices. Potential upside and that is that comcast has a better service. If anyone will be arguing that, they will have more content here there is that upside. , that is true. Watch bloomberg tv online in several places, including amazon fire tv as well as your web, mobile device, and apple tv. President obama making use of his executive power, signing orders today on equal pay. Is the payday the pay gap as big as he says . Not so much. Whom ones were. The imf cuts russias growth. I will be right back. Qwest president obama is making use of executive orders. The first ends orders federal contractors sometimes used to prevent employers from discussing their play their pay. The president emphasized today when it comes to equal pay, America Needs action. Do not have to sit still. Make sure you are putting pressure on members of congress about the issue. If you are a voter, you have a daughter, you have a sister, you have a mom, i know you have a mom. This is something you should care about. Not stand still, either. Im joined now by a scholar at the American Enterprise in june and professor of economics at the university of michigan campus. Also, phil knightley. Phil, lets start with you. Tell the viewers exactly what the executive actions will do if you could just line it up or is. The white house is basically going for transparency. What they want to do with the gag order theyre putting a ban on and also a president ial directive to the Labor Department requiring federal contractors to see race and genderbased pay information theyto label to labor, are trying to shine a light on it. White house economist and officials hope thatll contractors will self correct those. If not, the Labor Department will be able to bring in enforcement action. That is what theyre going for here. A significant political arena here. Mark was the talk of the White House Briefing room today. May have frustrated jay carney, it is safe to say. That is an accomplishment. Joining us now. He is referring to this oped in the wall street journal. We were talking about some of the st. Louis fed numbers that showed the . 77 on the dollar that women are supposedly making is correct. Lly entirely when you look at the other factors, there is a 3. 5 wage gap between men and women which is still not great there it is the dollar. on you wrote the gender disparity also economically a logical. If women were paid . 77 on the dollar, a firm could dramatically cut labor also cosy replacing male employees with females. They do not ignore the opportunity because it does not exist. Women are not paid . 70 on the dollar for doing the same work as men. Is the president trying to make an issue out of something where there is not an issue . The issue here is that when the president talks about a 23 pay gap between men and women, people understand and are led to believe the entire 23 pay gap is caused by discrimination on behalf of employers and when the Target Corporation are hiring women and they pay 77,002 , economists know that is not the case. Can be explained by a lot of variables and factors besides discrimination. When there is a three or four percent pay gap and maybe that is because of discrimination, but the 23 cannot be because of discrimination. Tell us the reaction to the out today and put other economists are talking about. They did not this unit. That is the key issue here where mark hit the nail on the head. Terms of put out in undercutting the . 77 argument is something jay carney was not going to say is incorrect. What i think the most ,nteresting part mark put out the political aspect of this. It is undeniable democrats are moving into midterm elections and women are a key constituent and a need to rally their support. Pay issue is something the white house have been pushing since they have been in office. Withush is tightly ported senate democrats, Democratic Campaign committees on the senate side, and Landmarks Research comes out and starts to undercut some of the numbers they use, the white house is worse to address the political implications of what theyre putting forward. It is logical. If you are a business and you ,an get an employee so cheaply i suppose you can only have women working for you. This pastork to session. There were a lot of concerns men by womeng displaced and part of that was maybe because women were making less. What do you say to that . It is true men were disapproved disproportionally affected but that is generally because they have a disproportionate number of jobs in industries that got hit the hardest, including manufacturing and construction. That is where the disparity came in in terms of a higher Unemployment Rate for men and women and more job losses for men and women is because women tend to work in more Stable Industries like education and health care and men tend to work likere Industries Construction and manufacturing. It is an interesting issue and probably one we hear more and more about as we head into midterm. I appreciate you coming on. Up, continuing in the ukraine after fight rate out in parliament. We will talk about this situation after the break. Plus, acid, lead paint, sheet rock, just some of the ingredients found. We will take you into the 75 billion black market for fake drugs. Unrest continues to mount as ukraine sends Security Forces to deal with prorussian protesters that set fire to government buildings in the region. John kerry says russia has been chaos. Ukraine to create the russian government responded saying the crackdown on separatist risks, sparks a civil war. Washington ism the Deputy Director at the institute of advanced russian studies. Great to have you, as always. About about little what is unfolding right now. The west is really concerned fore protests may be cause to push into the ukraine. Is Vladimir Putin actually creating a contrived crisis as secretary of state kerry suggests . He may well be. Events will play out over the next few days to see if that is true. The unrest in the eastern cities is very worrying. They could be used as a pretext if they get out of hand for russia to send troops into eastern ukraine. It was an explosive situation and it is still unclear how events will transpire. Goal . What is the ultimate aspirations to restore russian to the power it once had during usr our days ussr days. There is a Political Movement he is invoking. Ae we actually going to see civil war in ukraine as Vladimir Putin tries to a cover more territory . More likely we will see a proxy were than a civil war. If there is violence in the ukraine, it will be led by russia and we will bring russians into the ukraine and find some russians. Think the citizens of ukraine. Ekingncludes the russians citizens of the ukraine looking for work. You see that because the protest themselves have been relatively small. They are not the same types of protest that occurred. What would be a great concern is that russia uses these events, the instability, to decide it will intervene into eastern ukraine. That remains a huge worry. Let me share with you some video from parliament. We saw there was quite a fight that broke out there. What is your take on this . I do not know if you can even video but you have probably heard about it. The rain in parliament breaking out in this massive brawl. Is there a lot of unrest there . There is a real tension in the ukraine. There was an accusation by beattys about the success of nationalism ukrainians. This is also a potential spark. Interim government has been very careful to control. We talk about the black market for counterfeit drugs next. About the success of nationalism ukrainians. This is also a potential spark. Interim government has been very careful to if you have ever thought about ordering drugs online, you might want to think again. Olivia stearns look at the 75 billion black market for counterfeit bills and what big pharma is doing right now to fight back. Watch this. It is the Drug Trafficking you do not hear about. More than 75 billion worth of state pharmaceuticals are sold globally each year. Eat inside these makeshift labs, lead paint and often sheet rock, some of the toxic ingredients found in counterfeit pills sold online to customers around the world. The problem is so big that pharmaceutical companies are now policing it themselves. Scientists are doing the legwork. The evidence will then be used to prosecute the purpose. Formula. Inning the incentive is to protect the 55nd, tainted by more than different products on the black market. Today, they are training me to spot the real deal. Class that is hard to tell. It is very similar to me. Everything,e find like chapstick. But the but viagra. Something inherently looks fake about it. Can you tell which is real . Documented. Step two, the physical exam. The color shifts from loot to purple. Step three, chemical analysis. Here are the viagras. This is fundamentally different. File the report. Years at the fbi, he is working for this company. Law enforcement does it on their own based on training they do. It is important for us to have patience and recognize when they identify a product that they know it is our product. We have gone through the regulatory process to make it safe and effective. Work, it is nor wonder police need outside help to keep up. Olivia stearns joins me right now. Olivia, it is a really fascinating piece. To likely is it, if you were order a drug online, that you would actually get something that is indeed counterfeit . I went myself to figure out how hard it would be. Viagra,ype in discount right over there on the desk, it is terrifying august of that comes up. You need a prescription but all over the internet, you can find plenty of sites that say you do not need a prescription. Phone andd over the on online chat with two different agents, can you promise me this is five sub brand viagra. They promised me and this has been shipped from hong kong. I got it three weeks later and an hiv drug. D for i finally got it and i sent the sample and they said to me it has a little bit of the active ingredient and only 10 and also has another active ingredient in tylenol, plus a little little starch. It is not the real deal. 10 real. It would not work the way you would think it would. Often, these things have very dangerous ingredients. That is scary. You think youre getting one thing and youre getting something else. Your body might have a pretty adverse reaction to it erie right. This is someone that looks at how big the counterfeit market is. They say 97 of Online Pharmacies out there do not meet fda standards. Concern. In addition to the threat of counterfeits, one thing i came across the doctors are really worried about is the issue of substandard generic. We all take generic pills are an 85 of medicine are they really worried about that or is that just the drug company saying we have to protect our turf here, beware of generics . Is not just Drug Companies that are worried, but doctors. The u. S. Havein supplies manufactured abroad. I spoke to an expert at the american enter Rise Institute and heres what he had to say. Klesko thats the 1980s, and most of the ingredients for drugs in the United States were either made in the u. S. Or europe. Today, 80 of the ingredients and 40 of the finished products, overseas and mostly from china. That means even u. S. Manufactured generics and brandname products have to secure prime their names were the regulators are not up to the job. Chinese regulators are underfunded and do not have a broad enough level of competence to oversee the vast market of hundreds of thousands of producers there it one , plenty of pills in medical supplies, five factories than by the fda. In january, the fda inspectors went out there and found the plan where you could not even close the windows. Granted flies and all sorts of pieces of broken glass. The problem is the fda cannot really operate as a global policeman of the entire pharmaceutical industry. It is hard to do. Thank you very much. We appreciate it. An interesting report. Coming up, forprofit problems. Disastrous outcome for students. Repairs areall supposed to start this week. That is if the dealers can actually get their hands on the parts. That has been calling them and will give us the real story next. Quest technology should be a boon to education, giving educators better outcomes. For a handful of forprofit companies, a turn for technology has meant big profits but disastrous results for the thousands of students attending these schools. Weeksohnson has spent going through hundreds of pages of filings and legal documents that have come up with evidence that not all Technology Driven change has been good for education. Cory, welcome. Walk us through it. You found the results are actually worse online. What is going on . The whole forprofit for education business has gotten to be really big. About 18 of all students in the u. S. Are at these forprofit schools. The untold story is that there has been a tremendous rise in the number of people taking these online. A change of law in 2006 led to a big increase of people taking classes exclusively or at least at in part online. The results of been dramatic. If you were to look at the and onlinecampus enrollment, what you find is without online enrollment, enrollment in the u. S. Would actually be declining. They have increased by nearly 50 in the last 10 years. All of that is because of online degrees. Deal and a very big largely unexamined until now. Class you have found people going to School Online im not seeing the same kind of success in terms of getting the actual degree. Why is there not the same kind of followthrough . Flex the lie is a big question but the what is industry. People do not know the results are very different. , theyrprofit schools found 46 of the oncampus getents, only 46 failed to a degree. Online, 66 failed to get a degree. That is a dramatically worse situation. Those numbers are awful. Youre talking about half of the. Ids, forprofit schools they are basically not graduating, half of the kids. It gets worse when you look at the online component. Tax dollars are going to help support some of the spear the administration wants to change that so there are better guidelines and more stringency. To some degree. What is taking the lead here is not the federal government but State Government and the state attorneys general banding. Ogether in a couple of states we had an interview with the kentucky state general. Listen to what he had to say. We want to make sure we do not have unfair advertising when selling a product. When youre in a forprofit realm, the education is a product. We see with forprofit schools boiler rooms, paying lead Generation Companies and tracking down any they can and making telemarketing calls and when they get someone on the hook, they are spending a tremendous amount of money to train recruiters to sign up today and once they inc. The papers on those federal student loans, they are hooked. School you have got a that has been 25 of the tuition revenue on other students, it taking 10 out of forprofit, there is not a lot of money spent on the education itself. This is forgetting new students and not new graduates. President obama just announcing about two lisa go the administration intended to try to invoke regulatory change to inquiries require schools to meet standards. If they do not, a lot of them can be shut down. It is at least eating attacked from all angles. We will hopefully see better results. Thank you so much for your reporting. Moving on, zero is the number of gm dealers in the tristate area matt miller has been this story closely. We talked a little bit about this yesterday. I have been working here in new york and yang yang and watch new d. C. Devon or 48 dealers to see if anyone has these new admissions. Nobody does. Most of the dealers we spoke to said they are not even on their way. Interesting because everyone said theycause gm would be there on april 7 and they would start to do the repairs on that day. At least in the northeast around new york and watched it the he and the tristate area, im not going to ask. Is this is turning into a Communications Disaster for the day. You think about getting up there on capitol hill and saying, i did not know. You now think about the reporting you have done. The front desk they promise to make these parts there and theyre not yet there. Theyre not delivering on promises. Is a realtheyre not delivern promises. Is a real problem with communications. There is not really that much of an issue with the speed. She said she would let her own son drive a cobalt with the issue as long as he takes the keychain off of the keys. If you are just using the keys on the car, they do not worry about it. A lot of them will be driving around until then. It is really about communicating what you will do and how you will do it well. To success with this company. Quest that will be the big test right now. Thank you very much. Coming up, m a money. We will tell you i 10 million deals are the new norm. More after this. Mergers and acquisition deal makers started the with a bang. The death a 27 jump. When you start to dig into the numbers, kristi l s e has been digging into the names of m a and she is here with more. How would you characterize the m a market right now . Is it healthy . By one metric, the value of deals, that metric was really good. If you look over time, the isber of deals happening actually kind of flat and that is important because investment anchors can sometimes do make a lot more money doing a number of smaller deals than a one big one. Speak to the global cohead of m a at goldman sachs. Here is what he had to say about what we need is the for the rest of the year. They have been big drivers. We have seen a pickup in consumer activity today. If we had three or four engines running and not just two, that would really be a heel to recovery. , Natural Resources has been a big drive of m a activity over time. I do not see it coming back in the near term. There is still digestion they need to do. Time, go back over a long Financial Institutions have been a big driver of financial activity. Until the pitch is clarified, that is unlikely to happen. Class we have seen a Big Industrial deal. They have come together to create the big cement maker in a world. We can seef that, real spikes in m a activity. Class it tends to feed upon itself. If someone else sees there is another company doing it big deal and they are now like im ok, maybe it is time for me. You get a lot of conditions that are really good. Is cheap, financing is cheap. Equity markets are on a tear. We saw was going on last year. What is the difference is clean then and now . A very good question. Have gotvironment we right now and what were starting to see in the market is one where ceos are willing to do larger is the teaching eels. The first time in four or five years. Talk about the transactions in last four or five years, they were in trees intrigued by it but they were not really engaging. The environment now, the conditions that have been there, relativelyt rates, limited organic growth, are still there. For a are waiting transaction. In the last couple of quarters, it has been a very positive equity market toward m a transaction. Use the stock prices going up, counter to conventional wisdom. When you see that, that is starting to generate additional interest by companies and ceos doing that. Class one thing that was said that was very important is that the biggest risk factor to m a right now could be on the regulatory front. A lot of regulators do not want to see further consolidation of consolidation, especially coming out against it. Goldman . Out the First Quarter was tough for them. They missed out on a time warner contest. Deathly, theyre numberone and probably will be this year again. Thank you. Were back after this. Back in positive territory on the dow right now. Three minutes and 40 seconds to go. Your top 10, alcoa is trading up half of a percent. The women producer announced firstquarter earnings. Number nine is Activision Blizzard cup of up almost two percent, and this news comes after the ceo took a 55 Million Dollar cut in pay last year. He only got 10 million. That is down from a 65 million he got in 2012. Last year was also the first year in which he gained full control. He is essentially paying himself, which is why he decided to pay himself last. It make sense. Nike is trading about three percent today. Receiving an upgrade earlier today. Abercrombie fitch down two percent. The retailer announcing it will pay thousands of dollars to assistant managers due to improperly withheld wages. More are merging to join the lawsuit. Number six is ebay. Shares four percent. March comparable shares for the ecommerce website rose 7. 8 yearoveryear. Number five is comcast. Shares are down slightly today. It backhe ceo, expects to be in the number one spot when the tv season comes to a close. The network that aired the sochi Olympic Games and sunday night football will close with the biggest audience in prime time. The results mean the ages of 18 and 49. This is impressive in just three years, he has enabled them to go from fourth place to first place. It looks like they have had a huge success with shows. I know matt watches a lot, like the voice. I was going to ask what shows. Watch on nbc . The voice and what . The blacklist. I am usually watching hbo were netflix were playing call of duty. That is a problem nowadays. A big victory lap. Totally. His shows are doing well replacing leno. Number four, were moving on, shares are solely soaring up over six percent. The nasdaq expecting its profits sales for its fuel cell powered forklift continue to grow. The Company Expects orders to almost quadruple this year 250 million. Trading down one percent, the securities and Exchange Commission charged them with misleading investors about significant financial setbacks and improper accounting. 20 million toay settle. A sickly, nothing. A cab ride. Aking payhe company has agreed to 1. 3 billion, a little worse than cvs, to settle claims from a mortgage bond. Investors ridding themselves of liabilities tied to mortgage. The latests just bank theyre trying to put that behind them. Number one stock of the day is amazon. Shares up almost three percent after a report showing streams of instant video tripled yearoveryear. Surpassed apple and hulu in streaming. They infringed on two patents cover your rear at the close of and we have enough day have an update. Day. More than doubled what we saw on the s p. Facebook, some of these beatendown names really turning things around for the nasdaq. Just barely eat out again. We want to get some additional context for todays move. Olivia sterns joining us with more. Was also among those him and him names that we mentioned. Really call it a risk on or risk off day. Im looking at the sectors, utilities outperforming, and then consumer discretionary. The focus is earnings come out, coming out after the bell today. It is interesting because you look at what analyst seven forecast think of an package and are they said we would see overall profit increases about 6. 6 s p 500 companies. By the data survey they are expected only one percent. Everyone is downgrading their forecast for the First Quarter and that will rattle markets. We will be watching board. These are the roundup stories were talking about. Matt is kicking off, we are talking about your favorite company. I have somebody favorites that i hate to just take one, but tesla, astounded me it is now offering those buttocks for products forask fo lease. Now they going to have a real leasing program. This will allow customers to more easily calculate cost into the future. What was the other retail leasing price . There was no leasing program. Bank or wells fargo cover that was actually a Financing Program that was designed to look like a lease. A guarantee that you could sell the car back for a certain value. Aere getting a release real lease. Retailday customers still have to go through the old systems, so youre not getting a lease. It is for business customers. There are slowly phasing in and. Luxury companies have fleet government is a 71,000 car, but it was going to be a customer for this . That is what green luxury car fleet . If bloomberg leases me a for a for ari. Ari if bloomberg leases me a for ferrari oninvestment fund focused media and entertainment and found that orders of the equity firm in china will buy the about 80 million. The addition of the local chinese investors in the id years to help imax continuing spending expanding into the world left it second largest film market and tried address that local market. I was tried to do a lot of research on sequels. Imperative, asia is imperative for these movies, now youre seeing studios film specifically overseas. In order to attract the local audiences, like transformers four, totally overseas. Was big overseas because it was filmed there. The idea is that not only is it a huge market but theyre making all of these financial steps in order to do it. Quicken is pretty cool. Did you see the numbers on cap in america . The two directors are brothers, their actual brothers. That it will do better than captain america. Twitter has been rolling out a redesign of the website to its users cap and it includes a larger Profile Photo and you can pin one of your tweets on the top of your page. The new design will be rolled out to all users in the coming week. Facebook. Xactly like apparently i already had it before anybody else. You want to see what it looks like, follow me. There is a really interesting commentary on it, saying that where facebook is where the mom is that facebook is like a special circle of hell where your friends are getting married all the time, so why do you want to look like the has been when twitter is the next in line . The redesign is on the photos, so i will see a constant dream of bachelorettes. I would not mind if they were bachelorettes parties. When everyone is getting married about my facebook feed is just babies speaking of babies and moms, their rivers a historical trend. Theyre increasingly staying home. The share mothers who do not work outside the home actually rose 29 in 2012. Up from in a modern era low of 23 in 1999. This is according to a report released today by the research center. The recession getting some others out of the workforce as they struggle to get jobs. Others found a more advantageous to stay home after learning the cost of childcare against wages. Women who are staying at home they want to find a job. Were finding out why the labor force the numbers show that one third of these women are below the poverty line. Theyre looking for a job. Part of the problem below the poverty line and looking for a job or just below the poverty line . The cost of childcare is so significant that it basically negates going to work. Exactly. So it is a choice. They are either staying home on purpose rather than i wish i could find a job. Ed by marks an op. Debunking the women only make . 70 on the dollar for men. He was just on the show. We talked about it yesterday. A couple of weeks ago you also had him on here and it is not for the same job. If it is for the same job about men tend work more than what he hours, and women look for more fixable jobs, so it is not an apples to apples basis. Which would you actually see if there is at about three percent gap. That is still not good but it is not the . 77 on the dollar that the ministrations is putting out what is a very politically charged issue as well. They pointed out that single women who have never. Married ouren mary 96 instruments earnings single women who have never married are actually . 96 on the dollar for mans earnings. [laughter] im going to talk about mice, because theyre not to be people away from the road that. Razy story. Er they were shut down because of a mice infestation. The big ruse allowed to reopen after it posted full reconstruction and recementing. When they reopen they had to do something kind of kitschy and so they had a oneday only krone called rocky. End. Are fighting to the they shouldve called it ratatouille. They want people to come by it. Do you give a bakery a Second Chance on sanitation . I dont. Here in new york city, if you go to the Health Website for new york cupping can actually see the grades, a, b, c, and you can see all of the past infractions that a restaurant has had. This website has been just devastating for me. Now i look up every single restaurant, and i look through all the past infractions. You cant eat anywhere. It is a disaster. Bad infectionvery recently. Guy read that they find the digging a cup of coffee over the counter. Ever in a restaurant for 10 years, youll find stuff if you look for it. You will find stuff. It is new york. Thank you very much. What does it take to convert commercial real estate into dream residential . New details on the changing face of manhattans downtown. La quinta is expected to price its ipo. What willll you happen when it takes it public. Iconic a breeze side address i manhattan 140 west located in tribeca, it was purchased for 274 million by the founder and president of magnum real estate group. That is being converted into Residential Property which rigorously served as headquarters for rise in for verizon. He joins the on set, great to have you both here. Lets talk about this. Why convert from commercial to residential . Is it really that hot a market right now . The building happens to convert you to flee from commercial to residential. Were focused primarily on delivering larger shares of apartments, something for families and the demands downtowns which seems to be primarily families and emptynesters. A lot of families down in the tribeca area. When will this building be opening up . We like to been we are expected to begin sales in september of this year. Xd of any idea which will be charging per squarefoot . Quickly expect to enter the market at a price point driven market pricing. Something that is more portable to people who are living in tribeca right now. We are not really trying to be the 157 million of downtown. Hours that are building something that can never be built again. 2 million per bedroom . Probably. You will go up to three bedrooms . Some thick bedrooms even. Six bedrooms even. Youve been watching this trend in the downtown area of manhattan your been watching Rentals Real Estate rises in manhattan just skyrocketing up 30 last quarter. What is going on echoplex or is a lot of demand for residential apartments. There is also a waste for commercial real estate in the midtown area as well. It is just a great market in new york city, and we are very opportunistic with these properties that we have a 140 west is working but youre getting out. 42 of the building theyll arent. Or did you present. So this is physically a joint venture or you are helping to develop the and the residential. We own the building together. Withinelopment is all and well take a risk on that. What other development. I . Development have you done . Townhome, can immediately get a Large Development until they called the east immediate condominiums. Rootedness and cannot. Re was a thinking greenwich and canal street. There was a thinking for many years, has started to jane . I would say yes. It has changed. Buying makes a lot of sense for younger people. For people in general. Rates are low historically. What happens on the vertical back of your work when those rights go back out. Up . I think were stable in the new york market. Theyre still moving up. Maybe not as quickly, but they will continue to move. Words of lovely commercial real estate . Commercial real estate has actually come back from 2008. Its actually surpassing word was full for where it was before. Technology has replaced a lot of workers as we have seen. And we continue debate and free time we see the jobs report each month. The mix. Is a change in new york was properly Financial Services sector, now we see is more of a balance between the Financial Services and the technology companies. Verizon gevo we still of our presence in new york city, and we have been here for a long time. It is a transformation of real changingust trading who happens to be in there. In then attack commercial side and your thing many more families choosing to live in the city. Thank you very much. So great to have you here. Coming up next. The hotel chains la quinta is being taken public by. Covenant blackstone hair and company blackstone. Their Parent Company blackstone. From new york city, you are watching Bloomberg Television. Blackstone hotel chains la quinta is expected to price its ipo tonight. Filed 37 million shares from 231 a piece. It would give the hotel chain a value of . 5 billion. Leslie, this is the third lodging company that blackstone out and took public just in the last six months. Im spotting a trend. What is going on, and what is it helping . At helping six monthshe span of it took an extended stay public, they took hilton, both shares are up, so now they are looking to take la quinta public. Does that make some people nervous at all when you start to see that many ipos in that specific a space all within the span of six months . It can, but what theyve looked at was doing a sale, which were reported a couple of months ago, and decided to do an ipo because they decided they could get a valor that higher valuation that went they could get a higher valuation that way. They said were taking this thing public, and here it is. The company was driving a sales process as well. What happened with that . Within not able to find a buyer . They thought they could get a higher valuation in the public market. With the rising stock prices, with the rise of lodging prices especially, they looked at that and said we could get a higher valuation. Doing some compilations, is true that they will get a higher valuation. About 58d treat and times earnings. That is higher than hilton, and extended stay. Looking at a premium for this company. Lets talk a little bit about what is going on the ipo market. Like street is also busy next week is also busy. What is coming out . , theyile is on tap will make 3 million on this. We will see his large. We will see how he is done in terms of convincing investors that this boutique Investment Banking model is here to stay. Tap thehave on parent of travelocity. Our travel segments are not going to end anytime soon. When you look at the pace of ipos right now, it is actually pretty dramatic. We are at a level that we do not next week last by we should surpass in volume what we had in an entire year of 2013. Is this an example of sort of the market catching up to the 30 . Our company saying that i have to get out now . They say the window is opened it and it is wide open right now. The reason your things into big push for deals now is just a calendar issue. Companies want to get out before easter, so that they can do it refer everybody goes on holiday. Incrediblen in amount of activity, that was partially a byproduct of how well the deals performed last year. Fisher, were seeing that any backlog of companies that dont go out for waterburys and go out now that they fire their annual reports. The window is open. You mentioned sabr is also coming out. When you look at the travel space, would we look at the beel space, theres going to three this year in just the last six months, does this suggest midstwere in the of a real academic recovery . Economic recovery . Theyre looking for that frugal travel that will be able to capitalize on that savings they have been holding onto. Thank you. Causing aown for stir on the radio. Now in patent wars. Guess is shaking up the model for fitness. Anytimehe cofounded fitness that allows members to work out 24 hours a day without thosebothered with all pesky trainers. Theres is no permanent staff on hand whatsoever. This is paying off for the topany, revenue has grown 633 million in 2013. Welcome. What is it that people are attracted to with this model . The fitness consumer perspective, it is more convenient of it is about being more affordable. It is really but trading environment that about creating an environment that is very friendly. Work out in a whenever he can. 24 hours a day. When they join their local club they can use any of our 2500 loves in the network in all 50 states as well a 16 countries. It does not matter where you are what time it is. If you get a workout in whatever it at your life. What does it cost . Between 25g and 45 a month. Membership match a that is best for the consumer. It might be a 12, commitment or take 12 month commitment give or take. To people like the idea being a little more independent . I think so. They have athere sense of independence, a sense of empowerment can enter level of trash. A level of trust. I know are members like that empowerment of having the key with no staff available. Our staff is there 30 to 50 hours a week to motivate coveted coach, to support and to help people reach their fitness goals. We may notice be there at 4 00 a. M. In the morning. What about the issues you might have to deal with just a safety standpoint . If someone is in the gym at four clock a. M. In the morning to what kind of risk might there be . If you dont have anybody there to help oversee it, is that ever issue . Securitye a threat that is well lit, they all have security systems, panic necklaces and aeds. It is a very secure environment commanding 12 years weve never had any serious incidents. When you look at if it isnt a good most of the risk and injuries are in things like pools or courts. We do not have those convoy does have some of the lower impact machines. The risk of injuries already very low. Have you had much pushback in terms of states saying we do not like the idea of having nobody be there, and you being open 24 hours . What kind of legal hurdles have you had to climb . We introduced the beatles model in two thousand two in the robot eight states out there that had language in place well before our Business Model existed. It wasnt against our model is just something that they had not thought of before when they had made this language. Ofhad to spend a great deal time educating lawmakers and states all across the country on the convenience this creates for members. The portability it creates can especially be big about rural and nil cost america, it really creates access to fitness. In everyurn that state. Access to that is, that is great, but here we are in this country, despite all of this frenzy over fitness we are perhaps the saddest we have ever been and is a nation. Fact is we have ever been as a nation. Ge bad stuff and were dealing with iraq getting obesity rates. That is correct. The World Health Organization has come out and say we have a physical inactivity issue. Our industries position to help people be more different weather in the club, or even at work or at home. Trying to solve this issue of activity. We get ordinary a beats off our smartphone, and sit in front of our computer. We are fighting a war against lifestyle. We are also seeing some phenomenal Success Stories and markets all across the country and across the globe helping people change their lives, starting with physical activity. Europe 2400 franchises right now. What are your expansion plans . Will continue opening over 300 stores a year oblique and in the u. S. Over the u. S. And globally. Thank you so much. Stiris known for causing a on the radio, but this time he is launching campaign against a certain patent troll. We have that story, next. These days it is all about building a brand, and who better to take lessons from the household name like new york giants wide receiver victor cruz . Fromuches on everything signing with the superstar agent to establishing a Signature Dance move. I would like to think of myself as a brand first. Athlete of the embodies everything else, but i would like to think of myself as a walking brand. So fortunate to grow up about five miles from Giants Stadium about and to play with this team. I love everything that new york entails, i think the culture is perfect for not only myself but my brand as well. I want to emulate my brand, i went there jeter i wonder youd are to be noticed in the spotlight, people love him. Im always humbled, im the guy of can take hundreds pictures with anybody. I will never say no. Having jayz there and someone i can talk to, that is always good. And good job of knowing you moldings around it. Growing up, everything was nike, it was always if you do not have a pair of nikes you were the cool guy on the block. Nike was a part of my culture, it was embedded in me. It is naturally became a part of my brand. They asked me to do this also dance. Hthe salsa when im through the Grocery Store and people ask you to do the dance, im like right here . Wasas something that preplanned, but did not think it was go this far. Time for the scene where we bring you the mist is behind media and entertainment and popculture. Adam just may be its savior. Thecomedian is one of handful of visible podcaster standing up to a Company Called arsenal audio. Personal audio claims it invented the idea of podcasting back in the 1990s. It is suiting corolla and others for patent infringement. The problem of a personal audio thatpatent troll, makes no products, but makes money off of the patents it happens to hold. Suits by patent trolls make up 76 of Patent Litigation cases. 2007. S up from 42 in researching the story, and the managing partner at media tech capital partners. Let me start with you steve. Does adam corolla have a shot to give these guys . Thee has a shot, but one of problems is that the juries have turned out to be very friendly vendors,ures and and these patent trolls actually go to trial, and you are at risk of losing. Big case where is he like if you read the patent cover that they were not infringing on the patent, and it was with this same company. Personal audio is basically saying that every podcast out there is using its technology . This is not about technology, it is about ross ecig rossa processing. They essentially had people reading stories from newspapers onto cassettes, and then they distributed it to people in the personal audio devices. They consider that process to be the father of podcasts. A lot of that and trolling is exactly about this. [laughter] blank something on your tape recorder. I think i did a few podcast on my is that player cassette player. Will people have to fork over percentages of their and there are 100,000 patent suits every year on average. That averages increasing every year. It is a 29 billion industry. That is how much these settlements and litigation expensive run. How much . 29 billion. It is not going to stop. As stephen points out of it is typically a jury situation, and it is pretty easy if you have a good litigator to persuade a jury. Lets back up for a second because you still need to make sure that you are rejecting the people that are inventing things. Protecting the people that are inventing things. At the core of this is something that is good and fundamental to american success. Way, ithow, along the has gotten convoluted. Patent trolling is not new. Go back to the beginnings of this country. 1800s and earlier, they called them patent sharks because if you had a nice plow or a sledgehammer of any patented it, someone would say i would sue you if you do not give me a license fee. That has been going on and on. What has happened now is that technology has made items and complex that you could take a cell phone and look at the several hundred little parts, and if any part of that has a patent that you will cover your greatest of you hold, you will sue. There are two bills in congress right now that would essentially marrow this process. Make that the loser pays give and they would also stop the threatening letters. A lot of these letters are going , theyre going to endusers, has wifi in their coffee shop, and they say you have to pay up, instead of saying cisco. Cannot sue the enduser. That has been a big problem. Quick this is a consumer friendly set of litigation that is likely to be passed. Who is against the . It . The bar association, the law schools] theyre making a lot of money, they have to make money for those lawyers. They are worried, it is this balancing act to the two talked about. What Congress Needs to do is listen to everybody, and be very careful about it. Theres bipartisan support. What would a change system really look like . Ofit would change first all theyre telling the Patent Office and you can be more careful. Your green lighting very broad and unfocused patents. Number to cover the system would say no more suits against endusers unless you are suing the maker of the technology. Theres also the issue of the loser pays in some cases. It is who, where, when, how, and why. The research that has to be done before the litigation begins at this new legislation is making. Isback to adam corolla, he saying enough, im not going to let you come after me. As were in the midst of this whole environment, and these various decisions that congress would like to make on this in various bills, this this help them . With cowan funding as a shot go but he is not alone crowd funding he has a shot, but he is not a loan. Their various efforts at both gives the patent trolls, and most of the list because they have unlimited resources. He asked to raise 1. 5 million, and that is why people cave in pay these fees rather than taking this to court. We will be watching for it, thank you very much. Pimm, we have taking stock coming up. Indeed we do. Have the pleasure of speaking with bob saget, he has a new book out and i will find out about his time on full house. That is coming up at 5 00 p. M. Eastern. More street smart is up next with trish regan. Twists, turns, and plenty of burning rubber. Speedways 1. 5 billion empire. K its biggest ran and baddest racetracks. 56 minutes that they are, that means a Bloomberg Television is on the market. I am alix steel, lets get you caught up in more stocks ended the day th. They ended up 1 10 of one percent, rebounding from the worst threeday drop since 2011. It is still below its 100 day moving average, unable to reclaim that level. Average stock is down nine percent from its most recent peak, and that is according to the spoke. The ims came out with its annual forecast this morning, and the chief economist sat down and with Stephanie Ruhle and Erik Schatzker on market makers. They asked him about his economy, and where he things it is approaching escape velocity v i do not like that term. I think the u. S. Economy is in very good shape. I think the recovery is very solid. It is going to continue. Why do not like that term . I do not have the sense that there is some critical level of growth. When of all of your engines aligned, and it works, when a look online they can sputter, but theres no miracle growth rate or anything. With declining participation rates here in the united eight and the rise of technology, questions and the u. S. About whether or not essential growth is going to be lower from here on out. Is it the same around the world . Isare seeing a world that going to grow emotionally in recovery than it has not passed more slowly in recovery than it has in the past . In many countries, are we a ble to grow like we have before . In many cases it is no. The financial crisis may have made things worse. Country will have to look very carefully at what we can go. That is a big issue for countries like japan, also some countries in the euro zone. The imf cut its forecast for russia. Not too much. When crimeaputed was not even fully in place. Given what has happened, and the fact that this is likely to lead to outflows from russia, an increase in the policy rate for the devaluation of the Investment Climate in russia, we may well revise the 1. 3 down to. What kind of ballpark are we talking about . I think if things remain the way they are, five percent might be a reasonable guess. Largergs got worse, a adjustment might be needed because we can be looking at naked growth in russia is the bottom line negative growth in russia . I do not think so. Probably below one percent. Every year weve got into the new year feeling optimistic about was going to happen, and avery are been disappointed. Every year have been disappointed. What are we not thinking about that could take 2014 down . The issue is that the things we worry about are the things we do not even. N think about. It is the unknown unknowns. Were are not very worried about the huge risks over the next six months or year. For on the market, i am alix steel. This is taking stock for tuesday, he april 8, 2014. The theme is life lessons. Did join me and talk about his new book, dirty daddy. Will speak to an executive behind something called vocabulary. Com. And this is all water. That is next. And now