Have not thought about. Apple has a patent for face recognition on phones. That got their thumbprint on the model 5s and they have the idea of scanning faces for security. Tore are interesting ways employ this. It also is a privacy concern. It raises concerns. Is looking at this. Privacy is a big issue. It is, you mentioned the retailers will set at the table to come up with these voluntary standards but privacy groups will do this as well. The Commerce Department will bring together the retailers but alsoaclu and they will meet in february and they will come up with a code of conduct by june. The technology we are talking about remember the movie minority report in 2002 . It portrayed a world where cameras in Public Places could read Public Places and target ads to that individual. We are not quite in that world just yet but the technology is there. We have been talking about Companies Including apple. Cameras can take better pictures in Public Places, Geolocation Technology is everywhere in internet giants can match photos to people like facebook. We talked to one of the pioneers of the industry and he calls it a Disruptive Technology and the perfect storm. The tagging technology that facebook has launched using face recognition is a game changer to some extent. As more and more people start putting images of their life on facebook and automatically creating a database, it allows you to search and retrieve and create links. Be big business. One Research Firm estimates the Global Market for facial recognition products could reach 6. 5 oh yen dollars by 2018 but privacy will continue to be a concern and any regulation could affect that number. How does this work . Its as simple as a fingerprint. They look for certain things within the face. Thedentifies landmarks like eyes and nose and mouth and starts to look for certain things that are unique. The database works like a fingerprint database. Fingerprints count the number of points and the same with fickle just facial recognition. Any tension at these meetings predicted . You will have groups like the aclu sitting down wit groups representg reilers. The retailer priority is that any sort of regulation that gets put in place does not put a block on technology being developed. For the privacy groups, are people going to be able to opt into the technology . Will people be able to be anonymous in public anymore . You see the companies starting to offer some of these things saying its for customers who voluntarily opt into this, trying to put that concern out front as opposed to making people worry about it. As we have seen with any sort of internet advertising, the lure for the customers are deals. If you opt in, you are more likely to get an ad or deal. Thank you. Google is on a shopping spree in the robot is ms. Boston dynamics bills robots. They are not saying how much google is paying for the company. This is the eighth Robot Company google has bought in the last six months. They plan to honor the Current Pentagon contract that boston dynamics has but will not go after further military contracts. If you dont want to run, you can fly. The aig ceo is Bob Ben Moshe a. He has agreed to sell their plane leasing unit for 5 billion. Aircap holdings is the name of the company. After a group of chinese investors missed a deadline, repeated deadlines to buy the leasing unit, he has been looking to sell it. Aig is focusing on its Main Business of insurance. Lastly, the aig chairman spoke to Bloomberg Television. Its a greatgh company, its not a good fit with an Insurance Company balance sheet. Its a very capital intensive business like that and does not belong in an insurance portfolio. We love the company and the earnings but we will get on with selling it. Bloomberg news has been on the story for quite some time is ourning us now reporter covering this. This is a tough thing to sell with lots of planes and that. Over the last year, they have been working to sell to the chinese. They could not get it done. Wasnt part of the problem that the planes were older . Yes, they had a series of writedowns on those planes. How good is the business . Downs,cause of the write it has not been possible this year. It feels like the future in leasing, people are flying. It seems like its an intriguing business. Is it a growing business . There is a lot of demand for air travel particularly in china. Fora was there everpoint where they decided not to sell it . Always the possibility they would sell it to a foreign investor . They have been working to just get rid of it and an ipo was a possibility. It seemed like over the last year, they wanted to get it off their balance sheet. With . At is aig left done selling these noncore assets they have accumulated in the years before the crisis. This is the last big 1 does that mean a change is afoot at aig . They are really focused on insurance. They have been bulking up for Life Insurance business. They have made some moves into international Life Insurance. Why couldnt the chinese and aig get together . Was it on price . It seemed like the chinese could not come up with all the money. This has been going on for a long time . About a year. Was it a situation about regulatory issues in china . It seems like an unusual business for china. Thats right, its a tough deal to get done. It has a lot of debt and i think that made it harder to close. Thank you so much for joining us, zachary tracer. We will be all over this story about aig selling their Aircraft Leasing unit. Theofficials have argued inability of congress to pass a budget is holding back the economy and making the Central Bank Job harder. Congress actually passed a budget or at least the house did. It makes the Central Bank Job harder as well. Michael mckee is here to explain. Its a new dilemma. Company haveand been urging congress to change their policies. Now that they have, it may force its the fed to change policy. For the past two years, but that is been telling people that went on implement gets to 6. 5 , we will talk about raising interest rates. The forecast is we will hit that level in mid 2016. Awayloyment benefits go next year and could screw things up. Workave to be looking for to get benefits. There are about one Million People still getting the emergency benefits which extended coverage for up to 99 weeks. If they dont have to be looking for work anymore, they might just stop. If one Million People drop out of the workforce, that would lower the Unemployment Rate immediately by as much as half a percentage point. Alreadyployment rate is at seven percent. We could see 6. 5 next month. What will the fed do . They might change the threshold and that raises questions about how worthwhile their guidance there their guidance is. That does seem to be a problem. Communication is not been their strong suit. Anet yellen has been in charge of that part of it. Ben bernanke said the fed could begin tapering by the end of this year. We got to that Unemployment Rate last month and this has to be factored in considering the wednesday meeting so anything is possible. Thei was reading about janet yellen comments about gold suggesting that she has an understanding of the role of old and bernanke was not up on it. Is there any suggestion that we will see any serious policy indications anytime soon . Not in terms of gold. The central Bank Ben Bernanke understands the hyster role of goal but he cannot figure out why it goes up and down these days but very few people can. People want toys see it as a store of value but they will not make policy based on it so no return to the gold standard. That would be a good headline. Thank you, michael mckee. There is another headline my book is out today. I actually had a copy for you. I will bring it to you in the next hour. I talked to some of the big bank ceos. The book is called work smarts. I got advice from some of the biggest ceos out there and what itmon talked about is like to be a ceo of a major corporation. He said a friend of mine became a ceo of a big company. Some insights there. No longer being able to whine. Im sure people will read into that. Congratulations on your book. Thing someone can ask is when your book is finished but you can actually celebrate. We will have more from other ceos and you can read excerpts from the book on bloomberg. Com. Coming up, Charter Communications gets ready to make its move. The Cable Company prepares to make an offer for Time Warner Cable and we will talk about that and do you think your has your kid has what it takes to make the big leagues . You can get some oneonone coaching from the biggest names in sports. There is a company that can make that happen. We will talk with the former party boy and broker who wins a new Leonardo Dicaprio movie, the wolf of wall street. You are watching in the loop on Bloomberg Television, streaming on your phone, your tablet, and bloomberg. Com. Mutual funds are headed for record withdrawals this year with speculation mounting that the Federal Reserve is is preparing to reduce bond purchases. Able have pulled in early 2 billion from their funds in the last week. Is the u. S. Economy recovering fast enough to turn them around . Welcome back to in the loop. These withdrawals are a big deal. How do you manage that . Its a challenge. We are first and foremost trying to keep our themes and strategies in place to match the redemptions. We keep a little more cash on hand and keep focus on what we want to extract value from the marketplace. It is a bit of a challenge. Year have we seen such huge withdrawals . Bond market isal a retail oriented marketplace and Retail Investors were earful of a rising rate environment. It is plenty of literature like the great rotation from bonds to equities. Didnt they get spooked by the detroit bankruptcy . That has overshadowed the marketplace. Those are unique situations. Detroit is a set of circumstances that is apart from the rest of the economy. When you look across the landscape, are there other detroits and stocktons where there is tremendous financial problems . The fundamentals are much better today than where they were a couple of years ago. The landscape is uneven but there are challenges which are fiscal and structural. If you can navigate it well, municipal ons bonds are cheap. There are some cities you might want to invest in and one of those cities that people of talked about a chicago. Is chicago experiencing the same problems that detroit is . I dont think chicago is on the verge of bankruptcy but they have huge pension obligations. Last month, we talked with the chicago mayor rahm emanuel. This is what he said. I have done three budgets in no propertyalanced, tax, sales tax, or gas tax increases and we eliminated the employee head tax. It, we eliminated it and are structural deficit was taken down by 2 3. I believe thats the Foundation Laying for pension reform. Thats the same dress im wearing today. That,s he been able to do not raise taxes and try to balance the budget and, at the same time, try to fight the unions and bring down the pension obligations . Chicago is not detroit. The Unemployment Rate is higher than the average in the nation is well below where detroit is. Chicago has similar challenges. Have been grappling with these imbalances every year. They have been using stopgap measures which is nonrecovering measures. We like to see the expenses match the revenue in a sustainable manner. , theension situation pensions are poorly funded. It is about 35 . It is shy about 19. 4 billion. Rahm emanuel has put together a plan and that plan calls for the costofliving adjustments to be addressed if not suspended and employees and employees to pay more themselves and increase determinants and define the contributions. That is playing out throughout the u. S. In terms of pension reform. We see those elements in all pension reform. Where else have things gotten better the may have looked like problems two years ago . Three years ago, every conversation we started was will they or wont we . In california, they address their issues. As a california resident, i will say we did. They have cut spending and raise some revenues. Fatigue had not settled into their budgets. That is a great example of how Public Policy can change fairly quickly. Thereof also been some big there has also been some big revenues. Californias Revenue Cycle is amplified by the Business Cycle and the hightech area within california is a growth story within that state along with some of the housing areas that were hit pretty hard. Thank you for joining us, robert amodeo. Ultimate, its the present for that sports fan who has everything, having an nba star show up to play hoops in your driveway. We will talk to the guy making a business out of creating a dream for you. You can live like the wolf of wall street. We will be back. You are watching in the loop, on Bloomberg Television, streaming on your phone, your tablet, and bloomberg. Com. Good morning. It is 26 and is passed error which means Bloomberg Television is. Equity futures are higher after a dismal week last week and stocks. We are higher ahead of the fed meeting that starts tomorrow and againon the markets in 30 minutes. The european area continues to recover from its record recession. Factory output grew. Germany, it reached a 30 month high but france fell to a sevenmonth low. Sprint is considering taking over t mobile. Antitrusthecking out complications. Tesla is preparing to sell its highend electric cars in china. Muskompany owned by elon launched a chinese website this morning. They are taking premortars preorders for the model s which is expected to be available in february. I imagine there could be some demand given how much the chinese love luxury cars. The deposits have helped tesla fuel the stuff they are doing in terms of development. It is amazing they are taking deposits on the model s when they dont expect to be in full production until the second quarter, june of 2015. Deposits is something the giants could not manage it yesterday. I was rooting for the giants. Please help the seahawks and the 49ers. What it does not seem possible. Payone might be willing to top dollar to spend quality time with eli manning. Company out there that help that happen. Suzio represents coaches and athletes. Tim hardaway has signed on as well as Roger Clemens. Tiki barber was a cofounder of the company. This is an interesting business. I am a recovering Sports Writer so i watch athletes struggle with how to deal with fans per you figure out a way to get them closer. We have built is an online marketplace where the public can book professional athletes and sports figures and coaches for experiences. You can go to the site and search over 1400 athletes from across the country. You can see who is available in your area and what they are good at and how much they charge. Range . T is the price the average price is 1400 per experience. What is a popular experience . One is called a game watch. Financial advisor bookedtiki barber for a game watch event. It means you are sitting in a bar or at home and watching football and you invite 25 prospects with tiki barber. These events can create an atmosphere where you can actually get your clients to spend time with you. When have been amazed people love stuff from athletes like autographs and experiences. Is there resistance from athletes to do these things . There was resistance when we first started the is miss about posting pricing. That was uncomfortable that we felt it had to happen in order to have an upfront market lice where consumers could have a positive buying experience like any other online marketplace. Who are the ones that are most popular . Some of the names you already mentioned. Tiki barber is one of our cofounders and is most often booked. Tim hardaway is in miami and Roger Clemens came on board a couple of weeks ago and are most popular current player is mohammed wilkerson. Prevent other clients from directly going to be athletes . Is the reason we built this because that is hard to do. Most people have no idea where to start to book an athlete. Agents are focused on contracts and so forth. The agents are not around at that point . They cannot find them and thats why we have a team of people hunting down these retired athletes to bring them on. Its a lot of work. Building a network of people who can help you infiltrate each Athlete Community across the country. Whats your background . I was act ground with seamless. Com. I happen to be a big sports fan. When i was presented with the opportunity to join this country, this company, no brainer. Alumni of certain places a big draw . Absolutely, stars that are not known at the National Level are the biggest hits on college campuses. I am a giants fan. Big ron dane fan. What has been the strangest or weirdest event you have gotten a request for. . I dont know how strange or weird it is but i think its really cool. We had jr smith booked to attend a bar mitzvah. He showed up and the bar mitzvah was held on a Basketball Court and he lifted the 13yearold boy over his head and everybody was freaking out. And then he gave him tattoos . We thought that was really cool. Sounds like a good idea. Thank you very much. Up, we put u. S. Surveillance under surveillance. Plus,