Get the notice midday yesterday that it is moving again. What happened . Another 24 hours and the reason, according to the administration, is the sheer crush, the volume they were getting on the website yesterday and they want to make sure those people had the opportunity to enroll. It was a record day yesterday, one million visitors to health care. Gov, people to sign up for obama care that would be effective january 1. That is the critical deadline they are facing. This extra 24 hours as giving those people the chance to enroll. Some of the people were told by email that it is too busy, come back and visit them a little bit. They did this is to give people the opportunity to sign up to boost those numbers they are still way behind where they should be in the president said it is clear their numbers will go up. The republicans are criticizing this extension . Surprise the fact that the Obama Administration keeps moving the goalposts and they were asking u and Kathleen Sibelius if they are going to move anything near the holidays. She did not answer the question. He put out a statement even though the administration is trying to bend over backwards to help people sign up, republicans are still criticizing the changes underway here with obamacare. They are continuing to criticize how it was rolled out in the first place. One very public sign up is the president himself. Yes, this is interesting. It is symbolism more than anything else but we heard from the white house that the president himself was enrolled over the weekend under an individual plan, a bronze plan, showing that the president himself has gone through this process. He will not use thiS Health Care. He has his own coverage from the military. This is symbolism at best. The white house wanted to show the president did it like every day americans. It took about one hour and the plan he signed up for would cost him 400 per month. Of pockete 5,000 out for the president of the united states. There is one deadline you cannot extend and that is the Christmas Shopping deadline. If you left all your present buying until the last minute, odds are, you are running around to the brickandmortar stores. Out that its found is probably going to cost you. Amazon has been slashing prices this Holiday Season. Its true, we know that if you want to get your hands on a , you are better off going to amazon. Com. It turns out that even among the ecommerce giants, amazon. Com is undercutting them on price. Toysnd the top christmas have been tracked and on average, amazon. Com for the top 100 toys undercut walmart. Com by three percent and undercut target by four percent. That is a big deal and its important because these e commerce giants used toys to lure customers as bait to by other things. What about inventory . The electronics and so forth . They have to strike a careful balance. They fill about half of these toys malaise carter and they want to sell out of their merchandise but theyve got to keep the top toys on hand so they can keep luring the customers in. Amazon. Com is doing better than their rivals. If you look at the numbers, on average, walmart. Com was 50 out of stock on those items. Amazon was only three percent. The reason is because of their marketplace. All of this has come at a cost to amazon . Of course, amazon has been on a major spending spree and investing in warehouses around the country, trying to do everything they can to improve distribution and be able to ship as many items as possible. That can hurt your margins. Their earnings for the last quarter reported a loss of 17 billion of sales. Target had about 17 billion worth of sales for the last quarter but they pulled in a profit of about 300 million. They are trying to a market share. All right, thank you. Moving and shaking this hour is the twitter cofounder and chairman jack dorsey. Disney just named him to their board. Says dorseys perspective will be valuable since the Company Wants to use the latest technology to reach more people. He holds a four percent stake in twitter. He is worth 2. 5 billion. For more on his well, check out our exclusive billionaire index at bloomberg. Com billionaires. Despite a Third Straight year of record sales and profit for disney in 2013, bob eiger saw his pay decreased 15 from last year. That is because his salary is based on target. As good as the year was for disney, it was no 2012. Joining me now is our director of north american research, all sweeney. Paul sweeney. Tell us what is it that disney missed this year . Disney had a great year but it was not as great as the year before. Is tied to hitting targets year after year. It is revenue profit target. They had a good year and made a lot of money but down a little from the year before. Highest paidt the list every single year, its very well populated by a lot of media executives. They are extremely well compensated. What were the misses . There were record sales and profits but what were the misses . Side, theybox office had problems with a couple of the lone like ranger. It did not hurt the stock but they took a big writedown for that. As wellk a hit for that as the studio chiefs. The overall growth rate was good and the core business is good, the Table Network is performing well led by espn and the theme parks were a bright spot in fiscal 13 and have been strong coming out of the recession. They are making huge investments in the theme park business in china in particular. Thats very popular. They continue to make Capital Investments there and shareholders like the returns. The distant nomination of jack dorsey to the board of directors, its quite interesting. I want to play a comment that erlichmanmade to jon about how twitter can be integrated into disney. I think there is a lot of potential there. Available toontent twitter users around the world. Its another means of distribution. Whats interesting about it is it also speaks volumes about things that are compressed and concise. We are also seeing that migration in media. Yesterdays short is todays long. I think we have to be mindful of that. Ceos tends to talk about social media when they dont know how to use it for their business. For disney, what is the value of twitter . Disney loves to connect with their consumers through all their properties and theme parks and cable networks. It is important to extend that disney branded deeply into the consumers lives. To the extent disney can become part of the online social discussion, i think that is important for disney. What does it mean exactly . It has to be more than just promoting some tweets. I think disney is all about extending their brand across the consumer. For example, they can have the gets for their tv shows into their fans and have the theme parks reach out to users over the twitter account, i think that will be important. Disney has always been fairly tech savvy. Steve jobs was the largest shareholder of disney when he was alive and sold pixar to disney. Bob iger and the board have been attuned to technology. They have not always been successful. Disney interactive has been a big disappointment for the company. Out at never figured probable model for the interactive side of disney. That is not atypical. Many of these countries have had a difficult time transitioning into digital. They dont want to eat into their own Business Model . Right, but they recognize that consumers are consuming their contents much differently. They have to be there and think of some models. At the same time, they cannot cannibalize their core existing business. If you look at twitter, it is not a game changer for disney. It is another avenue where they can more ingrained their product and experience into their customers daily lives. What do you think dorsey will add on the board . I think he will continue to push disney to continue to invest in their digital properties. Im sure there are some people on the board who say that disney has spent enough money and not generate a great return and maybe its time to step back but dorsey will be a board member who says you have to continue to push the envelope. You and we will be back with you to talk more about the Entertainment Industry including netflix. Next, the ondemand Video Service is debuting its first original series for whodren and the producers come up with the content on television are not happy with the way netflix pays. We will hear from filmmaker ken burns. We will talk about tesla and how it makes its hotselling model s. We are just Getting Started on this tuesday. You are watching in the loop, on Bloomberg Television, streaming on your phone, your tablet, and bloomberg. Com. Bloomberg sat down with ken burns who explained the Service Netflix provides. He is looking forward to the next deal thatpbs strikes with netflix. My traditional platform has been, for 30 years, distribution on pbs, that reaches the largest number of eyeballs. Kid i was growing up, every had memorized the entire primetime schedule. Now we know weve got hundreds of choices and we cant possibly memorize and have appointment tv. I am thrilled with the access. I am thrilled with the idea i am flying across the country and want to watch episodes of house of cards, i want to be able to do that. Thatve cleaved to the fact the consumer is king. It is not the Almighty Network it the programmer says you shall watch it now. This is liberating for everyone. We have been convinced, sort of, that it works. Everything is in flux and there thatt really the model sends us into the future with any real confidence the way we used to. Now we are in a new area in which the middlemen reap the lion share. There are too many middlemen getting too much stuff on the cheap. Dealix is going to make a with pbs and we get a large share of that because we are the most watched of the pbs shows n at the. Downto abby. It suggests there is a coming struggle when those United Artists get together as they did early on in the old hollywood system and said this is not working for us. That will be an interesting turn of events when the folks who were there say this is not as good for us as the people who are not doing anything except pressing buttons. This Holiday Season, netflix is hoping its users will have a soft spot for turbo. Fu talks about the effort to grab kids attention. Apparent inhas been a user of netflix knows they target kids. How is this different . This is the first netflix step at original content for children and its an important way for netflix to make sure that parents continue to pay the monthly fee without thinking twice. This is a different strategy than how netflix unveiled house of cards. They are not releasing the entire season at once but five episodes at a time. Netflix says that kids watch tv differently than adults. They rewatch episodes and dont care whether it is in order. It means that perhaps animation was not ready. The problem for net flicks is the movie only made 80 million at the box office. Made 283it only million. What are the analysts saying . One analyst says that this really is a big deal for netflix. He estimates that half of the netflix subscribers are those with a child in the household. He says original kids content is the mechanism by which netflix can eventually raise prices. They may not raise prices on you by two dollars but if you have a child in your household, they will offer a child programming option or maybe four dollars per month. This probably will not happen right away because dreamworks is part of this deal. They have 300 hours of programming and it is to bridge the gap until the deal with disney kicks in which is 2015 at the earliest. Tvy will introduce four series with marvel characters and get exclusive rights to the disney movies in 2016. It dovetails into what can burns was talking about. Netflix does not pay all that much for content but they have a lot of it and they need a lot of it. Enter in original programming, the latest stab at that because they need to stave off Companies Like amazon. Its extra ordinarily competitive in kids programming. You have disney programming, viacom with nickelodeon so youve got big Media Players in hollywood that have invested a tremendous amount of capital for the last 50 years. It is a competitive as ms. Its a toughtflix, business to get into but netflix does not own much of their content. And its not exclusive. Thats a model that has to change. The seriesht have for the first two years but five years down the road, they have to renew those rights. Why would they do that . Why would they create programming and not demand exclusivity . It is at the early stage of the lifecycle. They said we will take whatever you can give us. Much larger getting and becoming a bigger player in hollywood. They have 30 million subscribers in the u. S. And investing in original content and i are starting to cut better deals with hollywood. Hbo owns all the stuff that makes of you can reply anything 10 years later. They dont have to pay any different way for it. That took a long time. It took 30 years to get there. It might take netflix 15 years to get where hbo is. Maybe, but does netflix have 15 years . The online video market lice is competitive but it is a market place that is growing tremendously quickly. It is the fastestgrowing segment of online consumption. They are there with first advantage. They have brand name recognition in the marketplace and hulu and amazon prime are nowhere in the marketplace. Amazon has not woken up to focus on amazon prime video. Will d couple it from amazon prime programming. Thank you so much for that. Coming up, the grand finale of 12 days of that coin in a moment. Of it coin in a moment. [inaudible] you are watching in the loop, on Bloomberg Television, streaming on your phone, your tablet, and bloomberg. Com. It is 26 ms. Pas caret which means limber television is on the markets. We will have a shortened trading session. There is still Economic Data out data30 a. M. Has economic and there will be new home sales. We will see if the recovery continues in housing. We are on the markets in 30 minutes. Morgan and Morgan Stanley have something to celebrate this Holiday Season. Jpmorgan plans to boost bonuses for Investment Bankers while Morgan Stanley will increase the cash payout of year end bonuses. Its not such a Merry Christmas the nations retailers this year just right deep discounts. Fewer americans when shopping in the last week in u. S. Store sales have plummeted 21 and retail sales dropped three percent. Private equity firm kkr raise 1. 5 Million Dollars for its first real estate fund. It will spend most of the money in north america. Targetpany said it will robbery level and debt and sizable Business Real Estate holdings. About 31 stock rose per share yesterday, breaking above its ipo price for the First Time Since 2007 which is the year the firm went public. For more on his rebound, im joined by julie hyman. Its been kind of a rebound for private equity in general . It has been, for everything. Its been a rebound for ipos. When blackstone became public, it suffered from not the best timing. It was 2007 and the stock did not close above 31 yesterday, it it broke it during the session. It is approaching it in premarket trading today. This is on the comeback we have seen. In private equity. It has been doing ipo and selling shares. That is one of the things that has helped boosted this year. In addition to rising tide lifting all boats. In 2007, thatl was the year they did that big transition with candell. Then a few years later, real estate was not the same. There is one company that which in 2006 la quinta is a midpriced hotel chain and yesterday, they filed for an ipo of that company. If a company is less than 1 billion of revenue, it does not have to give much details. We dont know how many shares, we dont know the range of the shares exactly but we know that company will become public and it was bought for 3 billion. It has about 800 hotels in the u. S. , mexico, and canada and is a limited service, midpriced hotel. We have seen other hotel ipos. From blackstone, the big one was built in. Hilton. Bought extended stay and those shares are up 20 and generally come a hotel stocks have done well this year. Maybe the blackstone timing is better this time. You hope to get that right. Thank you so much. Sadly, today is the 12th and final day of our 12 days of bitcoin because we have loved watching matt miller spend the digital currency. On his journey, he has bought everything trump pizza to groceries and beer at a bicoin bar in brooklyn. He ventured back out to the streets of new york to bring back some christmas cheer. . You takebitcoin . Why this is the second year we have accepted bitcoin but nobody heard about it last year. We accept it because i got into and in in early 2010 have been an enthusiast ever since. This is a douglas fir which is less expensive than the fraser fir. This big one is a showpiece . Exactly, this is approximately 12 feet and a few inches. Wow, so this is a tree we have decided on, the 12 foot er may be a pain in the a to transport. Weve got that. Transaction, sending transaction. Mine says received. There we go. And here is the tray. Did you decorate this yourself . Well i had some help from my producer but i did buy the ornaments and the lights myself as well withbitcoin. So he accepts pure bitcoin. Acceptsnotorious secret it as well. 15,000 retailers in the u. S. Bitcoin. App. Use the gift you can buy pretty much anything with bit coin. Retailers actually only see dollars on their end. This is what i dont get what is the difference between using fewer bitcoin and this app . The dealer that sold a car or a guy selling his house are using a thirdparty provider that gives the seller dollars and takes bitcoin from the buyer. The difference between that and what henry did and there are thousands of others, there is no thirdparty. He wants to hold bitcoin. The tour is secret wants to hold dollars. That is the split. I want to highlight they would rather pay a fee. The Companies Like victorias secret and tesla, yes. I think the fee they