Michael brown. 61 arrestbeen ,harges, including arson unlawful trespassing. Meanwhile, the familys Attorney Says he objected to the st. Louis county prosecutors decision to call a grand jury. As much evidence as we could and we saw how completely unfair the process was. We object publicly and loudly as we can on behalf of Michael Brown juniors family, that this process is broken. Indicted. S should be Michael Browns father stood with the attorneys and reverend al sharpton at the news conference. Consumer confidence dropped unexpectedly in november to a fivemonth low. The index fell to 88. 7 this month in october reading. The decline interrupts a steady pickup. Consumers now have no excuse to say they are unaware that popcorn has more than 1000 calories. Forlly, many rules restaurants and grocery stores. Things like new york and philadelphia already had this requirement. National rules will take effect in a year. That is a look at your top stories of the day. The st. Louis county grand jury may have spoken in the death of Michael Brown, but attorney general michael holder says a separate Justice Department investigation is ongoing. Peter cook has more on where that investigation stands. I wonder if the Justice Department investigation could reach a different conclusion and that could affect a different outcome . Is they could reach a different conclusion. We heard last night in a ongoingt that this is and he stressed the probe is independent of what happened at the local level in ferguson in the st. Louis county. He went on in that statement to make the case the decision in the end will be independent as well. They have resisted forming premature conclusions. The reality is the government has a high legal bar to clear prove officerwill Darren Wilson violated Michael Browns civil rights. The violators have to prove wilson knowingly use more force than is necessary and would also have to prove he has the intent of file aiding Michael Browns Civil Rights Era it is a high legal burden to clear. It is on the Justice Department often does not reach. Also, a separate Justice Department investigation into the Ferguson Police department itself and whether or not it has a history of using it less of oars and also race profiling. What about the president s words and the possibility you could visit ferguson . He notably did not rule it out last night in the Briefing Room a little after 10 00 last night. Of course, it would not be surprising to ultimately have the president pay a visit. The shooting death of Michael Brown back in august. He also talked about in general terms about racial tension in communities that go well beyond ferguson. Take a listen. We do have work to do here. And we should not try to paper it over. Whenever we do that, the anger may moan momentarily side. Time, americas not everything it could be. We could expect the president. O talk more about broad terms off to chicago this hour. He will try to settle executive action on immigration. Hard to imagine in that sense in that session he would not talk about ferguson. Challenging weather conditions this thanksgiving. The noreaster will bring rain, snow. Get and,ow bad will it most important, how bad for us in new york . It will be bad along the east coast. Unfortunately, because the major hubs like jfk, dulles, philadelphia international, the airport, will be impacted tomorrow, there will be Ripple Effect throughout the entire country. Here is what is going on now. Ingredients are already there. Frontal boundaries sprawled out across the eastern United States. Fromat what is showing up tampa up towards southern parts of georgia. Additional energy. What will happen, this system shots down and the store this morning gets to read and write off the used coast in the United States. Cause some major problems to the i95 corridor. This is what it will look like as we go through the day tomorrow. The other thing we want to point out, it will be a strengthening storm as it comes northward. When storms strengthen north and west of the center, you get a lot of upward motion, snow, and the storm generates his own air. Right now, were looking at a mixture of precipitation. From new york city, philadelphia, baltimore, washington, dc. Mostly rain. Jersey, parts of new west of i95, it will be a snow storm with a lot of areas picking up over half a foot of snow. In idea of the timing. This begins as rain. A little after midnight edc, were looking at 6 00 a. M. In new york city, not until noon in boston. Traveling will be a major headache tomorrow along the eastern seaboard. There is also a little bit of snow pushing from st. Louis in the western parts of kentucky. And widespread travel delays. All right. Thank you for the warnings. , it says itreaming 500 500ing interest from fortune countries. Betty liu spoke with the company ceo about the future of that company. Like wefinitely feel brought the conversation to the forefront. People are buying more antennas than they ever used to. All the things we brought to portland. We raised the question in consumers mind. Think that, definitely. I do not know what happens after this point. All right. Betty joins me now with details on this year it is interesting. Theyre not an online tv streaming service. Not now. They are not in operation anymore. This is really a david versus goliath story. To bring down the , abc,broadcast for cbs comcast, and others. Adamant in its belief that the Supreme Court is wrong, that they were wrong in looking at the company, that perhaps they were a bit intimidated or they did not understand. Intimidated by the new technology coming up. How fastpaced test technology. The old business model. That is the way he views it now. As you have seen, other companies have come online with video services, hbo, showtime, cbs, so it looks like the viewers want to eventually get all their content in various forms. It just so happens he had to pay for it. Absolutely. You cannot steal it. Exactly. You cannot violate rules. Of course, he thought differently and felt he was. Ousing antennas already free to the public. Right. The Supreme Court old that as theft. Ruled that as theft. The assets are really valuable. The technology is solid. He was noting their are very big internet companies. People under my age dont remember napster. This is a disruptor, i guess. We will take a global look at credit. We will talk to pimco about it. And we will get perspective on global mom and Monetary Policy. Mixed news on the u. S. Economic front today. The conference reports that Consumer Confidence unexpectedly fell in november. The chief Investment Officer at global credit at pimco joins us beach,m newport california. Welcome and thank you for joining us. Let me get your take on what we saw this morning. I was more impressed by the gdp revision than i was by Consumer Confidence. Hello. Economy is doing quite well. There is decoupling from the rest of the world, particularly in developed markets. What the gdp report shows this morning is if you strip out the government sector, for the last several years, the u. S. Economy is growing at 3 . This economy is kicking in. The consumers are benefiting. At least one of those things is finished, right . Low Energy PricesGoing Forward . Interest rates at some point have to turn around . Eventually, but here is what is happening. Oblique, not a lot of growth. Policymakers have to implement more growth friendly initiatives. You will see qe next year in europe, the bank of japan goes is allof gdp, and that taking bond yields down and flattening yield curves. That is indirectly having an impact on the u. S. For low interest rates. Thats how much are we decoupled them what is going on overseas . Acts to movel bank things up, as forecast next year, and everybody else is going in the other direction, how does that result . It results in the currency strengthening. We think that is the most compelling trade. Looking at europe with a 1 growth outlook, japan with a 1 growth outlook, and the u. S. Is growing at roughly 3 . Economically, the countries are diverging. Time, Monetary Policy is set to ease further in japan and europe. In contrast, we could start to see gradual tightening. Think thegain, we tightening will be gradual because the Global Economy is still quite weak very classless talk for a second about what you like your. At the airlines, it is interesting for people to see they have stronger Pricing Power and growth there. I always think the airlines are interesting because they go bankrupt every 10 years. But they are on an upswing right now. Exactly. They are certainly benefiting from lower Energy Prices. We noted on the supply side industry consolidation led to significant Pricing Power. The airlines are packed. They are charging you to board early, check your luggage, food, special seating, they are getting money coming in hand over fist. Theyre also benefiting from the lower Energy Prices. Now the consumer is starting to travel again. This is the perfect storm and airlines are taking off. The Consumer Confidence index is not faze you in that believe . No. The things we look at from companies in the United States tell us consumers are coming back. If you look at las vegas, of eight to 10 . More people are staying in hotels, consumers are starting to take vacations. Buildingo apparent in Material Companies and housing companies. Consumer is improving. I pay close attention to automakers. Are a good materials bet and homebuilders are, the f1 50 is good that bet. I just mean pickup truck sales in general. What does that mean for the Auto Industry . Thats the Auto Industry is doing well. Very goodhave products. Gm has a good product line coming out. It has been innovative. The truck sales, for basically sells and f1 50 truck every 50 seconds. Clearlygy revolution is helping emmie improve u. S. Competitiveness in manufacturing is speeding through into the auto sales. Well. Have come up quite thank you so much for joining us. We appreciate your time. Up, a billionaire steps down as chairman and ceo. Stephanie ruhle has details on why he quit and what he will get , coming up next. As an investor is stepping down. An investor is stepping down. Is it ok if i shorten the names . Joseph . From the activism. Lets break it down. The guy who ran jefferies is now located. The have collected 20 of company and own 20 of the shares. Six months ago, Joe Steinberg come and true whitacre took those seats. They paid nine dollars and . 80 per share. Stock is around 15. It cannot hit that because there is a name out there and a reputation that people are just not that comfortable with. Think of this as a way because his life is spared his investment . Because of his legal issues. If it is not one thing, it is another. A great pool of assets. Look at spectrum. That is a great company. Entity anday for the phils name at home, we are not getting the potential. Phil will step down now. He is not leaving the family completely. He will step up under the umbrella. That holding company, they just raised 250 million for. About an eighth of his net worth. Think about how we see activists today. Letter writing. Going to get the positive outcome you get from smart activism, without having that fight. Those looking at the mirror saying, i have got great assets. If youre just sitting here, we cannot unlock them. It is not an unhappy transition youre saying. Even though the brand is tarnished, people love to follow what he is doing. Jefferies, they have been involved in everything will has done for the last 510 years. It is not because jefferies is the only shop in town. Guy for aery popular very long time. In terms of how the stock is performing, he has got some brand issues. Thank you so much for clearing that up. Whenever i need advice or information. Whenever you need to clear it up, call me. Thank you. Is 26 minutes past the hour. That means Bloomberg Television is on the market. Lets get you caught up on where stocks are trading. We are not seeing a lot of action today. Here. Trading on records another record close. Higher for the last quarter and on the flipside, Consumer Confidence. Stocks, of individual weight launched a new Advertisement Campaign and it talks about how losing weight is not easy or simple or fund. We will see how that works. And shares falling for the most in nine months. Lets get the federal report in fourthquarter earnings shy of analyst estimates. For the coming year, it also fell short. We will have more on the markets in 30 minutes. Moore is next. Next. E is opec leaders are scheduled to meet thursday in vienna. Special envoy and coordinator for International Affairs at the state Department Bureau of Energy Resources joins me now from washington. Thank you so much for joining us. Everyone is really looking forward to this meeting that i can remember in the last five years. It is far greater these days. In the past, meaning pre2008 . Pre2010. When russian reality around the world today where people were waiting with bated breath for opec to comment and decisions today. That has really gone back and i think that is part of the reality of the Energy Market where we are. What opecess of decides, what is the record . For are the members records the quotas they mouse in the meeting . Sometimes, included in the production, it is very different than the quotas suggested. That lakota has not is another indication of the limits of the cartel such as opec. Look at thestate meeting . When this is all said and done there be awill change in any policy in terms of Oil Productions . No. I do not think there will be a difference regardless. You look the oil markets today, making sure a number of things. One is that the world is well supplied, that we understand supply and demand he needs. Also, why and demand of oil, so as long as we understand where we are and what supplies looking like, and what consuming countries have to deal with, and what the National Security shortages would be, which would be on expected, then we are in good shape. Regardless of what happens here, were going. A fascinating time for us in america. We are at least on the verge of Energy Independence and maybe we become an exporting nation . Like theonally do not word Energy Independence. Oil is a global commodity. Whatever happens, even if everything we consume here is produced here, whatever happens if there is a commodity overseas, if there is a big National Disaster there, we will feel the effects. We have made in normas strides in the country and increase our Oil Production by a couple Million Barrels already. Were looking at continued increased production next year. That has implications for Economic Growth at home and how we are perceived and seen around the world. What are the numbers you look at . Fall, does the outlook for u. S. Production change . It becomes not as profitable for our producers to go out and find oil . A remarkable story about american production, the unconventional side of american production is that the cost goes down. Where the cost reductions will be affected if the price goes down below a certain level. As we go the next year or two, we will see the limits of price go down further due to the Great Technology advancements the American Companies are going through. What really surprises people around the world in other countries as looking at the resiliency of the oil shale revolution and how can cope at prices even below 80, when there were early assumptions that beat out production and it clearly has not. This is the message around the world. Invest in technology and innovation, allow for the growth of the private sector and the Energy Sector to have a world that is more diversified. The world we live in today compared to a few years ago, when opec was able to dominate the market, we are in a different place now. It is good for america, good for the world, and good for a Global Energy economy. In that diversified global oil market, is there any preparation for the u. S. Oil producers to get ready and start exporting the product around the globe . Conversationbvious and discussion that ensues when you have the kind of growth we have seen in the United States. I think that debate will intensify next year and congress will have to take a look at it. We will follow the debate closely. Thank you so much for joining us. There from the department of state. Coming up, the battle of the shopping dollars, a look at what retailers are doing to make you spend more and more this holiday season. Closely just talked about the countrys dollardenominated last month25 following