Hear . The Nuclear Summit is the reason everyone is gathered here. The russians did not come to it. And the g7 summit has been tacked onto the sidelines. President obama called that late last week. It is really the g7 summit where the focus of conversation will be, and president obama will be in listening mode. He will be testing, probing to see how far he can press his counterparts to put on additional sanctions on russia over ukraine. Earlier we heard from the president near the scene, and there is an emphasis on being united. The question is, can you remain united and ratchet up pressure that will dominate in the next 24 hours . Why wouldnt they remain united in this case . Is this an issue of europe getting the national gas the natural gas and other energy it needs and they are reluctant to be more aggressive with prudent . That is more aggressive with Vladimir Putin . That is the theory. Givee phrase goes, Vladimir Putin and offramp so he can deescalate himself. They will have a different approach as to how hard, how to calibrate the sanctions against individuals and potentially against industries . We should note that the sanctions we have been talking about are pretty minor in scope. Against the handful of individuals, it has had the effect on the russian stock market, the equities market, but it is meant to show that they do have the power and capacity to do this, but this is not anything close to what could eventually happen if everyone is united. So why bother, in a way . Really they are symbolic, but they do not have an effect. What is the point . If we will not stop Vladimir Putin from perhaps going after an additional cities in ukraine through sections, why go through the motions . Is still the possibility, so you need to have the conversation. Think of sanctions in terms of a dial. If they can continue to ratchet up, there has just been a little bit of news about the du summit. That will be dominated about ukraine as well. Couldals are saying you potentially have additional sanctions, that they want to see how russia response. It is a very much wait and see response game. That is why youre seeing incremental sanctions. Sanctions,ittle more then back to see if there is a response. That is the pattern. It has not change the fact that crimea now has russian boots on the ground. The Ukrainian Government has withdrawn their forces and it is essentially functionally part of russia. It is sort of a titfortat situation. We sanction their russian bank, and they tell john mccain and eight others they cannot travel to russia. It clearly has not gotten to a level that will really matter significantly in terms of changing behavior, but perhaps it will with the unification and with more partners. Hans nichols, i know you will continue watching it for us there at the hag at the hague. Vladimir putin is expelled is celebrating that expansion of his country. Over the weekend he treated muscovites and crimea ends crimeans to fireworks. Ryan, what is the mood like there . Are people excited . Do they want this to happen . Did they go for the fireworks display . Many people did watch the fireworks. Generally speaking that the west has stepped aside and that this is something that russia has done and will follow through on. Certainly president hooton , if you watchn his body language, is not concerned about the sanctions so far. If he is, he is doing a good job attending that he is not. He is presiding right now an awards ceremony for sochi and has been turning a deaf ear to the threats of sanctions and western pressure for stop and western pressure. We have heard that russian Business Needs to get in there, ns therimea Russian Defense minister is there. Business as usual in moscow. There is really nothing they think they need to be concerned about. A lot of people think it will not stop here. He ultimately does have a eurasia dream, one that is important to him and significant to russians. If he were to follow through on some of his aspirations, who and what would be next . Well, one thing western leaders have done pretty well is spell out that if Russian Forces appear in the east of ukraine or in the south of ukraine, as the United States and ukraine fears, that would trigger stage three of sanctions. That would lead to economic sanctions. The sanctions we have seen thus far have affected one bank, and its 160,000 credit card years credit card users, which is significant. It is not that big of a deal when you think about the fact that there are 144 Million People. All of the sections right now are rather abstract. We have lots of economists from russian banks saying the limited sanctions we have had thus far are pushing russia in the direction of recession, but that is sort of academic speak. If you walk around, you do not get the feeling that is the case, and people do not believe here that the west intends to push this further. In which case he might be free to continue any of his political aspirations or land grabs as we move forward. We will continue watching these sanctions perhaps with more unification from our g7 partners. In the meantime, it sounds like fireworks and some excitement there in crimea. Thank you so much, ryan. Moving and shaking this hour, ukrainian billionaire dmitry firtash, who may hold the key u. S. Lawmakers who want he was arrested in vienna this month on a u. S. Warrant and bribery and other charges. He made his fortune as a middleman in russias gas trade. One analyst speculates that he may hand over information about gas deals, and that the u. S. Would consider corrupt the Senate Committee and that the u. S. Would consider corrupt. Washington, house lawmakers introduced new legislation on friday that expands u. S. Sanctions on russia and provides aid to ukraine with it without theims reforms requested by obama administration. A republican congressman joins me right now, sitting on the committee that reforms the bill. Lets start with this bill. Youre talking about aid to ukraine, but no aid to the imf to help support ukraine. What is the distinction . We need to focus on the specific challenge right now. I think the obama ministration incorrectly tried to tie in this imf policy at a time we need to speak with unity about the ukraine. The last segment of your show did a remarkable job describing the dilemma we are in right now. Russia is in crimea and it will be a challenge to get them out anytime soon. What this is really about is sending a clear message to the world that russia cannot expand any farther. We need to do that with economic relatively paltry so far, and we need to expand them. I think we need to work on broadening the trade potentials for their countries in that region. One of the Biggest Challenges right now is because of russias Strong Energy reserves, they have a dominant effect of the economies on the economies of that region of the world. Hooton itowered has empowered Vladimir Putin to do more. Is crimea effectively gone . We cannot accept that diplomatically. We have to understand we will not be sending troops in there. Russia was already in there with troops before they started. It was not necessarily from a troop perspective a new show but i think it, is essential we make clear that they cannot expand. So what is the answer . We are talking about sanctions. Maybe we need to make them harder. Do we kick them out of the g8 . They do need to be tougher. We need to expand the universe supporting this regime and send any kind of military that we can short of our own troops and weapons to that region of the world. So that ukraine can defend themselves. Let me turn to another subject that is topical right now, the issue of income inequality. The senate is expected to look at minimum wage this week, early this week, perhaps raising it to 10. 10 per hour. What will that mean for jobs in this country, and will it do anything to address this very serious and growing issue . Everybody who works hard in america and has a fulltime job ought to live outside of poverty, but the problem with the president s solution is they do not get at the heart of the problem. The problem with middleclass families is wage stagnation, that their purchasing power has been frozen over the last 10 years. One thing we could do to make a difference and have major applicationsrity is expand dramatically our production of energy. We need to make health care more affordable, too, each we can do by making all Health Insurance taxdeductible. I would support an earned income tax credit or a tax credit for employers that hire people at the 10 minimum wage. If we just raise minimum wage in the way the president s suggested, the cbo says no is will lose their jobs. Wille cbo says millions lose their jobs. It seems as if we are going through a structural change. It used to be 40 years ago or 30 years ago you could graduate from high school and get a pretty good job and be a single earner for your entire family and take care of your family. Those days are long gone. Will we ever get them back . We have to recognize the modern economy, with the expanded Education System that gives workers the training they need will be critical. I think we need a manonthemood moment. We need a president who takes our challenges economically and rallies the country to Energy Expansion that would have seemed unimaginable a couple of decades ago. In which in america the idea of being Energy Independent seemed impossible, but today it is within our reach. Creating and fostering these industries could be job creators. Innovationsuring that have created the great natural gas and oil boom over the past decade did not come from government picking winners and losers, but we can invest in infrastructure and change the law to allow natural gas to be exported overseas, and we can stop the regulatory red tape that is hurting our ability to expand energynow , too. The government has a role in way and rally the our nation. Congressman luke messer, thank you for joining us this morning. We are going to be talking about this issue of income inequality on street smart this afternoon at 3 00 p. M. Formerbe joined by treasury secretary larry summers. Coming up next, the ceo of Popular Food Delivery Service delivery. Com, how he will compete with amazon. Com. If taxpayers build it, Major League Baseball teams will come . The business of spring training. Ok, everyone, you are watching in the loop. Im trish regan. We could all imagine the potential for growth in this business. Meals at work or at home, but what does this mean to competitors of grubhub . Question tose this jed kleckner, ceo of delivery. Com. Welcome to the show. Is it good news for you . Think any Public Offering in the space is validating for any Company Playing in the space, and certainly food is what we do. We activate merchants in the restaurant business. But there is a lot of money, so they will be more competitive. If you look at the private markets, there will be activity and growth equity. Ofwe have seen a Lot Companies in the tech space, and you guys qualify you are a food company but a tech company as well. Some have suggested that gettingns are frontpage following. We stay out of the valuation game. Ebay s of amazon or for us, our job is to go to the local merchant and drive orders to them. How do you do that . We dont actually do the little every the delivery. By the way, urban sets and cosmo there was no delivery charge. Would show up on your door one hour later. The way that we function, the way we monetize is that we activate a merchant on a platform, and a consumer can either order from their phone something 10 years ago you could not do or at work or at home. They have anything available based on the address they type on the website or mobile channel. At that time they decide whether they want it on demand or later that day or that week. Minimum order . Generally the minimum order value is something we want to keep as low as possible, but most importantly we do not want the merchant to charge. That creates friction for the consumer. Where do you make the money . We take a portion of the overall value from the purchase of the merchant. Grocer, you local compete not only with whole foods but youre dealing with fresh direct. Indeed. You are in that space as well . Thats right. We started in restaurants as an anchor product, similar to how amazon started with books. As the consumer understood this is not something they can do across the entire restaurant category, we do other things that are vertical one being drycleaning, liquor. What are your aspirations . To look to be something similar to what amazon has become, enabling any merchant, whether they be in a restaurant category or other, to utilize the internet as a way to drive more orders. Thank you very much. You will stick with me and we will talk more with jed kleckner from delivery. Com. Just ahead, a rare friendly gesture. We will tell you about a common cause. Plus, gould founder larry page takes that google founder larry page takes aim at the nsa. Lots to come this monday morning. You are watching in the loop live on Bloomberg Television and streaming on your phone and bloomberg. Com. Im trish regan, interbetty liu. Here with me, we are on the market for you. Futures pointing to a higher open after a 1. 4 increase last week. Camese per limiter a pmi in lower than previous readings cameinese preliminary pmi in lower than previous readings. We are on the markets again for you in 30 minutes. Here are top headlines. It is becoming a battle. It has been a battle, heating up , between carl icahn and bill ackman. Out in forces come for herbalife, nominating three people, and herbalife has agreed to this, to the board there for herbalife. Putting a little bit more pressure on bill ackman. Billion toting 1 build the Worlds Largest global for theoud to be used internet of everything. Apple and contrast apple and comcast are in talks for a tv service to rival netflix. Settop use an apple box and get special treatment on comcast cable, according to the wall street journal. It would allow you to stream live from video stored on the cloud. We are back with jed kleckner. We were talking in the break. The senate will be looking as early as today at minimum rage, talking about raising it to 10. 10 per hour. There are lots of questions as to whether that would do anything to reverse or help close the income inequality gap that has become so significant and severe in our country. What do you think . We have over 10,000 merchants on our platforms, small businesses. Small businesses are the driver of the economy. We want people to be paid well, and one way we help in that for is thatn that forum there is an opportunity to tip the person delivering to the door, and we encourage a large tip for providing the service, as opposed to putting that as a convenience fee. Letting a consumer have a say in what the merchant is paid. But they dont necessarily have to pay the minimum wage. That is the point. We are saying that the consumer has an opportunity to be able to validate the work the person is providing. So a little more freemarket private enterprise as opposed to the government saying this is what you need to make. In addition to what the government is saying, the consumer has the opportunity to add on top. If you raise the minimum wage, or one article says it seems there is something in there for everyone. You reduce poverty, but on the other hand you are reducing the number of jobs in the workforce. What is the best path . I cannot speak specifically to a government action, but in our own version of a marketplace you can either impose as a merchant, whether it ea minimum order value, you can impose a fee there should be a balance between what the merchant imposes that and what the consumer decides. Lets go to Something Else in the news these days, the nsa. The president met with mark of facebook and eric schmidt of google friday. There has been concern in the Tech Community that the nsa has overstepped its bounds. Mark zuckerberg even called the president at one point to complain about this. Googles ceo, larry page was on charlie rose. Take a listen to what he had to say. I would like to get your reaction. Rose page on charlie talking about the nsa. It is tremendously disappointing that the government secretly did all this stuff and did not tell us. I dont think we can have a democracy if we are having to protect you and our users from the government for stuff we have never had a conversation about. Thent mean we have to know terrorist attacks they are protecting us from, but we need to know the parameters. What kind of surveillance the government will do and how and why. We have not had that conversation. And a lot of people in the Tech Community voicing their concern over the nsa overstepping its bounds. In your view, has the nsa gone too far . I was not there when Mark Zuckerberg spoke to the president , but in terms of what larry page said, i would echo the comment we collect an enormous amount of data. We are getting transactional data down at the street level. If we were to use that data in some way without letting the consumer or the merchant no, we would be kind of doing the same thing. Not letting people know what the data is being used for. One of the ways we can take the data from transactions being placed on our website is to turn it back to the consumer in a way that is useful to them. If you place an order on a website, wouldnt it be nice to know information on what is trending in the neighborhood . But to do that, we need to let the merchants know that we are using it. Ormation and and the consumer as well. There is an agreement that you can read when you sign up for the website. The nsa would probably be going too far if they went to delivery. Com to see what we are eating for lunch everyday, and we do not necessarily need to be worrying about that. But Mark Zuckerberg, eric allidt, larry page, they have real concerns because the way it is currently being presented, the government has access to information ash emails and that sort of thing what people are doing online. Do you think at the end of the day the idea that the ns