Learn about the bands chart topping success and its tour. All over the next hour. First for headlines. Heres my radio host carol massar. Back in august he was found liable for his part in a failed one billiondollar investment. The u. S. District judge ruled he must pay 657,000 in penalties and give up 175,000 of his bonus plus interest. He cannot seek reimbursement of the penalties from goldman. Krispy kreme stocks soaring in afterhours trading. One other stock to tell you about, williamssonoma. Topping estimates for earnings. That is the top headlines. Bill ackman is making herbalife his fight to the end. The company is facing more scrutiny after the ftc launches an investigation into the companys practices. Julie hyman has more. How much of a win is this for bill ackman that the government is looking into herbalife . This is something he has been fighting for for quite some time. His allegation is that the company is a pyramid scheme. He has been saying in one of his main tenets is that the government is going to shut it down because he contends that it is illegal. He has been doing a lot of lobbying in washington and around the country to try to push regulators to investigate herbalife and ed markey, a congressman, he convinced him he should try and spark this type of investigations and looks like he has been successful on that front. He has been successful at least today in terms of what the stock did. It felt 7. 5 and plunged after this news was announced and finished the day down about 7. 5 . He has to see the stock fall quite a bit more until he makes a profit on his short bet on the company. Someone also has made a long bet on the company is carl icahn. He has made money betting on herbalife. What happens now to bill ackman if the ftc hands him a little victory . This is a oneday victory. At the end of such an investigation the ftc only makes an announcement if it finds that the company was in the wrong. It does not make an announcement and say, we cleared them of any wrongdoing. They might say they close the investigation at that point and herbalife might come out and say we have been cleared here in the investigation and it is finished. Herbalife said we welcome this investigation, there has been a lot of misinformation and we hope this will clear it up. That is what they have been saying ever since bill ackman began his scrutiny. A oneday victory for bill ackman but there is still a ways to go before the ftc comes out with any kind of ruling. I want to thank you very much. You will be following that for us on going. Lets turn our attention to medical charts. What do you do if you have a lifethreatening disease and the medication that can help you is not available . It exists but it is not available. The family of sevenyearold josh hardy knows about this. The drug that could save this young boys life is being tested by the Biopharmaceutical Company chimerix. Josh is receiving this drug through a trial. He is a sevenyearold boy fighting for his life. How does he figure into the story . He is an equitable example of what patients go through. This kid is so incredible. He is seven years old and has been battling cancer since he was nine months old. He had a bone Marrow Transplant and that left him with a suppressed immune system. And then he got a horrible viral infection. It was very serious for him and his doctors identify the drug as the only thing that could potentially help him but it is still in Clinical Trials and that posed a huge conundrum for the family and the company. Describe for us the status of the drug, the relationship of your company to it. It is in a phase three Clinical Trial to prevent another type of dna virus called cytomegalovirus. It includes adenovirus but the prime one is a virus. We ran a trial on patients who already had this adenovirus infection that we reported data from last august and this is one of the catalyst for interests. When you heard about this from the family, they were asking for compassionate use and you had a Compassionate Use Program in place but you no longer had it. Can you explain what the designation is and why it is it applies in the situation. It might have applied but lets go back in time. From 2009 to 2012, we made the drug available to over 400 people in the compassionate use protocol. But in 2012, the funding we have been receiving for that ended and we decided to focus our efforts on the approval of this drug. The process for approval so we could make it available to many joshs. The issue that has been difficult is that josh is a lovely little boy, i have talked to his father several time and several family members but there are many joshs. From our perspective we have had over 200 requests for the compassionate use of the drug for many viruses and over 80 people have requested it for adenovirus, the exact same virus that josh has and we have been unable to fulfill those requests so we concentrate our efforts on getting this drug approved. What we had to do here, i think it is important for people to understand, it is the many joshs. We were able to craft an agreement with the fda to create a phase three Clinical Trial where josh is the first patient. This allows us to help josh but also potentially help many joshs. Patients of different ages at different hospitals who might have a need for the drug for added no virus. Are there Similar Companies caught in the same situation . Ricks absolutely. Im not sure you could name a major drug company or Company Working on an important drug that has not had Something Like this. Not enough data are available to know how many requests come in and that is something people want to see more of but just in the last year, another company was caught in the same kind of Media Attention as chimerix was. A woman was dying of ovarian cancer. They did not fit the criteria for what they call expanded access. Ultimately the patient has to past away. Is there a possibility of some nonexistent status that could be conferred on these types of drugs so that their liability would be limited but these patients could receive these kinds of things and they would still be studied under the current regime . Yeah, i cannot speak to novel regulatory processes that might be considered but people need to understand that the pharmaceutical Development Processes very long and very difficult. Chimerix is 14 years old. Our sole product is the drug and we are focused in and day out on getting this compound through the Regulatory Development process and getting it approved. We had to come up with a way to help josh hardy and help the other joshs out there in need. Do you think the way that chimerix has used this protocol talk of that be a model for other companies . It is a perfect question. A bioethicist has held this up as an example of how pharmaceutical companies and the fda should be thinking outside the box to be getting were these Creative Solutions so youre not having to do compassionate use and pick and choose which patients can get your drug. Thank you very much. My thanks to the chief executive ken mach. A private Satellite Company says you can help search for the missing malaysian boeing 777 jet. Using crowd sourcing technology to examine images taken from space to hunt from for any clues. That is next on taking stock. Now to charting the search for the missing Malaysian Airlines jet. Officials are investigating an unexplained lip on their radar. They say it was detected far off course from the planned route of flight 370. Vietnam said it is leading closer to the route proving to be a dead end. A dozen nations have teamed up in the boeing 777 jet using 42 ships and another 39 aircraft. Also efforts involved the private Satellite Company digitalglobe. That is where we come in. Theyre using a crowd sourcing platform that allows people from around the world to examine their satellite images for possible clues related to the jets disappearance. Joining me now to explain all this is the senior director of geospatial big data and john mcgraw. Also a former federal Aviation Administration official. Explain what digitalglobe does and its relationship to this ongoing search question mark thanks for having me. Digitalglobe owns and operates commercial satellites and they are constantly orbiting around the globe capturing imagery. As soon as we heard about the event, our satellites captured imagery over the search area. We are releasing it to the public. We have millions of people on our website right now looking and trying to identify things that look out of place. John mcgraw, based on your experience, does this make sense . I think it does. Having that many people looking at the imagery is a force multiplier. None of the Government Agencies would be able to bring that many people to bear with all the off the shelf imaging tools and tools to analyze the images they have today. I think it is a tremendous help. Especially with the uncertainty we have around the path of this airplane and where it might have gone down. The search has been focused on water. There is the potential it might have hit land somewhere and there might be an image particularly and i do not know if they can do this but if they can go back in time with some pretty specific or close intervals and look at those images they might be able to pick up images close to the accident itself. Shay, do you have that kind of Digital Library . Absolutely. We have an archive of 5 million square kilometers of imagery. If we have an image of that same area, while we do not have an image of that exact day the airplane took off we do have imagery in our library weeks, months, and even years ago. When we see something that looks out of place on the ground especially close to land we are able to go back in time and see if that was there before or something that was recently added. Can you bring the public into ongoing investigations or even searches, its like coming through a vast file of information and as you said, you have millions of eyes looking at something whereas you might have only had hundreds if not thousands. Certainly in terms of finding an airplane, in the past we have used and enlisted local communities to try to scour wooded or wilderness areas. This is taking it to a whole new level where you can involve a lot more people. For instance i think steve fossetts airplane that crashed, there was a lot of folks did the same kind of thing to find that crash site and they were instrumental in leading us to find the airplane itself. I think you will see more and more of this. We are being watched a lot closer than we ever have in the past so there is a lot more Data Available that could be used in enlisting the public. It is a great way to get a lot of eyes on this. Can you give us an idea of how may people have downloaded or participated in this search . Absolutely. We have had 2 million users on the site. We had about 130 million page views. Think about that for a second. 130 million times people have turned their brains in their eyes to solving this problem. We have the numbers but i want to take you one step further. You are making this available free because of the tragedy. The specific tragedy. Tell people how digitalglobe as a Company Makes money. You are right. Were doing it because this is the right thing to do. This is why we get out of bed in the morning. As far as the company we sell our imagery to members of the u. S. Government and different agencies and the International Government as well as to a bunch of commercial firms. Different companies that want to understand [inaudible] what the Oil Production is like, which pipelines are secure. It is a commercial application that we are applying this technology to. Shay harnoy and john mcgraw joining us from washington. I will take a look at the growing trend of mobile gaming and speak to the chief executive officer of the first publicly traded mobile game company in the United States. Glu mobile. Later on, you will meet the front man of one of the most iconic brash metal band called megadeth. More about their tour. Just today, king digital, the maker of the popular smartphone game candy crush saga said it is offering shares of its ipo at a price that would value the company at as much as 7. 5 billion. The Company Looking to capitalize on the growing trend of mobile gaming. Joining us now is glu mobiles chairman. Niccolo de masi. Tell me what is up with the game industry. Weve had zynga, weve had glue and candy crush is 7. 5 billion. And fairly valued. This is his base that is getting bigger and becoming a real business. Even though it is going to be glu and king in the u. S. What is the Business Model . Keeping their eyes glued to some little device but getting them to pay for something. Eventually. Very few people pay for anything. For glu and you have watched as grow to a record quarter. 43 million of revenue. You do 43 million in sales. King is a much bigger business. They are 10 times our size, topline, bottom line. We are offering the greatest value for entertainment. 90 of people do not pay for anything. They are maybe looking at some ads but they are getting a free experience. Same for king. 1 or 2 of people ever pay for anything. Do you have trouble getting people to advertise . King and glu are different audiences. For glu it is a sought after it demographic. 18 to 35. We have the largest database. How many people are using the games . 70 million a month. It depends on the month. What is your favorite game . It is commando 2. We Just Launched and were very happy with that. Congratulations. What is next . We have a puzzle game coming out in the quarter. We have conquest 3 in q3 but we are playing it close to the vest because it is a more competitive space than a few months ago. Niccolo de masi, thanks very much. This is taking stock on bloomberg. This is taking stock on bloomberg. We are looking at the market moving headlines. A Federal Reserve vicechairman nominee says expansionary Monetary Policy is needed he cause joblessness is too high. He said the fed must continue robust implementation of financial reform. Shares of retail chains fell the most in three months losing 12 . The clothing Retailer Forecast lower than estimated sales and profits citing an extremely difficult start. Expectsmichael weiss growth to resume in the second half of the year. A snowstorm in the midwest has grounded over 1000 flight as it makes its way toward the northeast. About sixdumped inches of snow in chicago according to the National Weather service. The storm is expected to hit new york with rain while boston might get an inch or two of maybe ice and snow. Well done. My next guest has helped put thrash metal, it is a genre of music, it is. He has helped put it on the map. The band is called megadeth . They sold 30 million albums worldwide and have earned five straight platinum albums and are getting ready to go on to her. I am joined by megadeth front man Dave Mustaine. Great to have you here with us on bloomberg. Educate me a little bit. If i was reading the most recent bit of news about you, i would think you are going to solo with the san diego symphony. What i do right . Right. What are you going to be doing there . Believeical music, i shows up a lot in heavy metal music. A lot of the medieval type music that i was brought up with. Led zeppelin has a lot of the storytelling and classical arrangements tell a lot of stories. I was also weaned on the beatles. A lot of sir George Martins arrangements with the strings always fascinated me. I have always been a fan of Classical Music but the classical industry is dying. There is a generation of people who do not know about it that and i thought it would be cool to take my guitar and play a lead violin part. Kid,ing disney movies as a i like to the songs before the poison apple gets a bit or the wolf is about to attack or something where the music gets kind of scary. We picked some songs that we thought were really emotional, colorful songs. Are you doing the vivaldi four seasons with the symphony. You mentioned snarl. I want you to cast your mind before megadeth. It gives us a way to talk about your career. You were with another band. Go ahead and tell us what happened and how you ended up forming megadeth. I started off back in the 1980s playing guitar and i was the guitar player in a band called metallica. We had invented a musical style and we parted ways in 1983 and i formed megadeth and we are both current members of what is fondly called the big four in america. Tell us the other two. They would be slayer and anthrax. Slayer is another los angeles band and anthrax is from new york. When i think of things like megadeth and anthrax, that does not necessarily mean warm and cozy. No. How did you develop the genre and give us an idea of how it is characterized the people who play it. When youre playing heavy metal music per se, the name has to fit the power of the music. A lot of times bands that are pop bands have names that are real fitting for them. For us because we were trying to be so heavy and ultrafurious with the guitar playing performances, we wanted something that represented that power and megadeth was the only word that fit. A lot of the other bands, anthrax is a very potent disease and we were held hostage with the letters that were going along with anthrax and slayer is one of the names of the great destroyer in the bible. These are intimidating names which i think fits the style of music. Have you become less intimidating in terms of your music as you have developed . I think as you grow up things kind of change. It is hard being an anarchist when you have a mercedesbenz in your driveway. This morning i was thinking about rolling up and how i was homeless when i started my career, a product of a broken family, i was basically watched during the day by the boys club of america. It is one of those things where you go from being a poor kid, having lunch tickets and food stamps to being a millionaire. It is an american success story. Who are some of your heroes along the way . Guitar playingwise i look up very much to jimmy page, another guitar player and i also really like, as far as the songwriters, i was more into john lennon vs. Paul mccartney. John lennon was more in your face. You are known for being able to rewrite certain kinds of songs and updating the various lyrics. Is that something that you are still interested in . I think maybe youre talking about the Lee Hazelwood song that i changed the lyrics for, these boots are made for walking. At that time, i was a lot younger. The things that motivated me were different. I was single about the times are talking about sex like it was cheerios was not a big thing. Looking at it now, we had to go back to that song and beep out a bunch of words that i changed. When mr. Hazelwood was alive, he was cashing the check and when he read the lyrics he said i turned the song into a violent offensive lyric. But he didnt give you the money back. No. People were saying what was violent and offensive is that he took your money. I said i am not that uptight about money. Tell us about the business of megadeth. Youre doing the symphony but youre going on tour. Tell us about the business. We have got this great opportunity right now. There is a renaissance of heavy metal in america. As the west does, so the world follows. We got back from playing in india and zoomed over to new zealand and came right back to get ready for this symphony performance. We have a couple of oneoff shows and we are heading down to south america to do a big tour down there. We went down there with black sabbath and we were playing stadiums. We did this one crazy looking like a field or soccer Stadium Place in mexico city. We are going to Different Countries and bringing our brand of music to them. Since the 1980s, what is of the Biggest Challenges that new bands face, it is not the same world it was when you started out. It certainly is not. The Revenue Streams have dried up. The money that you would generate from record sales has all but vanished. In order to be successful and to keep your self in business, you have to find other ways to pay your bills which predominantly art touring and merchandise. A lot of people have endorsements of sponsorship deals and things like that but because of filed transferring, it really change the music industry. If we were to get a look at your pandora or iheart radio list of music, what would we find Dave Mustaine listening to . All kinds of crap. I have stuff like old hardcore country stuff like george jones and johnny cash and the classical stuff i have been brushing up on to really obscure stuff like Robert Johnson and split enz and i have a broad vocabulary with music because it is kind of like being a painter. Do i want to taint in blackandwhite or have as many colors as possible . Thanks for sharing your story with us. Dave mustaine is the front man for megadeth. If you are feeling stressed out and you need some relaxation after all of this heavy metal music, how about speaking to the Top Executive of a billiondollar Massage Company . We will talk about the bloom in the business. Taking stock radio has a tour of its own. Tomorrow i will be cohosting with carol massar. It is a celebration in boston. Our guest is the managing partner at bain capital and he is coowner of the boston celtics. You will meet the massachusetts state treasurer, steven grossman. Tomorrow on Bloomberg Radio at 2 p. M. Eastern. This is taking stock on bloomberg. I am pimm fox. Spanext guest offers services around the country. Since launching in 2002, massage envy has grown to 960 clinics. They cover 49 states. They give over 70 million massages. Here to help us understand this business is the chief operating officer. Is your job stressful running this whole operation, lets just start there. It was not that stressful until you put me after a global mega rock band icon. You can do it. Tell us about this whole business. 960 locations, 1 billion worth of sale to this franchise. It has been an amazing ride. First of all we are celebrating our 12th anniversary today. And you guys have us on for thats i do appreciate that. 12 years ago go we opened up our first massage envy spa in scottsdale, arizona. We have opened up 100 locations a year and in 12 years she went from one to a billiondollar brand. Is it stressful, no. It is an absolute blast. Tell us the details of what it is like to open up one of these franchises. We have a pretty set process where we are structured around the country with Regional Developers who look and vet out franchisees. Once we find franchisees they go through a qualification process that ensures we bring on great people who are focused on leading the brand with solid leadership, focusing on business, have solid business acumen, and are passionate about what we do which is about making peoples lives better. We have a good success rate. One of the things is by producing some kind of consistent regulation and licensing requirement throughout the country, there is a way to produce a consistent product, right . You bet. Absolutely. All of our therapists go through Massage School and they have to get a degree and licenses depending on what the state and local requirements are. We do make sure that we have a consistent experience but we want to have a customized massage for our guests based on what their needs are. What kinds of services do you find people asking for more often in addition to the massage . There must be areas of growth within the menu of services that are offered. There are. Like you mentioned earlier, 70 million massages to date but we offer spa services, specifically facials. That is a growing category. Not only can you get a customized facial, you can come and get your facial and whatever product you need to take care of yourself when you are at home. Had you go from being on a to a career in pizza hut and then the massage business . Very carefully. There is no differences, it is about people and it is about team. We make sure that we can execute the plan and execute it well. When we take care of guests in pizza or in massage, we ensure that we get the best in class people and to be able to be part of a brand that is in its infancy stages yet at 1 billion, we have not left the United States yet. We have a huge opportunity globally as well. To be part of that brand that is so successful is quite an honor, to be frank with you. Wondering if you can tell us your connection with arthritis and the arthritis Pain Foundation . We do sponsor and work with the Arthritis Foundation in many different ways. We do walks across the country and we have what is called healing hands. We donate 10 for every massage that we do to the Arthritis Foundation and we raised over 2 million since 2011. I can tell you stories that go on and on, we have 50 Million People across the country who have arthritis. 300,000 kids have got arthritis. We went to a Charity Event a couple of weeks ago and we had a child talk to us about his struggles and how he feels it is a challenge because he is ridiculed about it. And when i realized what we are able to do to help those kids with being able to toss a baseball, walk. It just breaks your heart when you hear the stories but it makes you feel so good when youre able to do something about it. We sponsored camp for him and many children who have you get to go away for a weekend many folks who are challenged with what he has. You will see he is thankful for being a part of the Arthritis Foundation is well. I want to thank you, joe luongo, the coo of massage envy and spa. Coming up, with st. Patricks day just around the corner, we will find out what is new from one of the worlds oldest and largest whiskey makers. That is next. St. Patricks day is almost here. It is monday the 17th and the folks behind tullamore dew Irish Whiskey have something to celebrate. Their u. S. Sales are up 18 over the past three years. Good to have you with us. Thanks for coming in. Lets start off with the name, tullamore dew. You said something about the Early Morning mist but there is Something Else behind this. Dew is the initials of who . Daniel e. Williams. It is a great rags to riches story. He entered the distillery and worked his way up to manager and became the owner. It is his recipe and his name is on the bottle. This is from 1829. 1829. What characterizes Irish Whiskey . There are many things but if i was to simplify it, it is triple distilled which gives it a smoother taste and perhaps scotch whiskey. It is triple blended so you have malt whiskey which gives you the interesting fruit and pot whiskey, which is a creamy, spicy taste, and you have grain whiskey which gives it sweetness. Very complex on the palate. You have three of them. The malt, the pot, and the still. What is the characteristic of the grain that is used . It is the finest we can buy. William grant spends time and effort on perfecting our liquids. We have won the International Wine and spirits competition as best distiller. 11 times in the last 15 years so we select the finest ingredients to go in. Lets talk about the growth in the u. S. I mentioned the number 18 . To what to you attribute that popularity . I think taste is back. Before prohibition, Irish Whiskey was americas favorite whiskey. They came to an end with probation and now it is coming back again. That is a wonderful story and it has enabled us to embark on the project of building a brandnew distillery in the town of tullamore. The growth of Irish Whiskey in love of thericans spirit is growing. We hope that we can meet the demand. It comes online this week. The stills are going in. The biggest of those stills is 50 bigger than a doubledecker bus. That is a lot of whiskey. 1. 5 million cases capacity. Is that going to be mostly for export to the United States or other markets around the world . The u. S. Is the Fastest Growing market we have. We are the second biggest Irish Whiskey in the world. Irish whiskey is also in competition with whiskey from scotland which you have got a hand in that too. We have some wonderful whiskey from scotland. We have glenfidditch and [inaudible] do you use those malt whiskeys in the creation of any Irish Whiskey or it comes from the tullamore dew distillery . We use the skill in distillation to make our Irish Whiskey but the ingredients are all from ireland. What if someone were to order a tullamore dew with something other than ice . Would that be completely against the rules . No, whiskey is made to be enjoyed. I can recommend some ginger. It is an irish mule. What is the path for success in the country . Would you like to see this embraced by china . They are taking a lot of red wine. We would like to see the brand grow in the u. S. Above all else. This is where we see our main focus. It is such a big market and we would like to get back to the preprohibition days. What is they way you like to drink this . On the rocks. Cheers. Harvey purchese, from William Grant and sons. Thanks for taking stock, good night
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