First off, your reaction when you heard about jamie dimons throat cancer . Betty, i am a human being too, so we are all aware this type of thing could happen. It is horrible, i wish the best, and i hope he requires recovers quickly. As he was saying, it was detected early, it is curable, and he will be working throughout. There are questions about who will succeed him, and he noted they have Succession Plans for the immediate future, in three years, and in five years. Had thisst time we conversation about succession at jpmorgan was one jamie dimon was president obamas favorite banker and people were thinking he might be the next treasury secretary at some point. Stated, and aons successor was, sort of, anointed, and of course, that discussion faded and that person eventually left jpmorgan. Now, once again we are in this discussion, and people are talking about the head of asset management, and gordon smith, who runs the commercial management, and of course, the coo who used to run the Investment Bank is a perennial person that people talk about. So, they do have a deep bench, bill, or what are your concerns . They have had a heat bench in the past. There has been a lot of turnover in the executive suite. Ismy lee, who you mentioned, coming back from wherever he was to speak to people. He has been there for a very long time. Right. He is a vice chairman, but he is not likely to become ceo of the firm unless the short term is very shortterm. Look, there are 200,000 people at Jpmorgan Chase. They have talent. People do leave. They lost Mike Cavanaugh to carlyle group. They lost other Senior Executives recently. These three people that people generally talk about our very talented, but whether they could be ceo of Jpmorgan Chase, i do not know. Who could be ceo of Jpmorgan Chase . It is a booking with. Behemoth. Jamie dimon was clear in what is going on with him and what his treatment will like, and he mentioned there is a deep bench to succeed him if that is necessary. Riskdless, does this becoming a distraction for jpmorgan. Does inn, of course it the same way that it became a distraction for apple with steve jobs getting ill. Jamie dimon it so closely associated jamie dimon is so closely associated with jpmorgan, their leader for 10 years, not the same way as steve jobs was with apple, but he is the longestserving ceo on wall street at the moment. Figure, a a public leader, of course, it raises questions. Many potential successors to him have left the firm, so it does raise questions. Look, they are out in front of it. I have talked about it early. Yeah. They will deal with it. It is not the first time we have heard from other ceos disclosing their own illnesses, you mentioned steve jobs, and im thinking about in motion a bob benmosche. Correct he did a great job in he did a great job and they had a successful Succession Plan put in place. It is terrible that this is happening. Hopefully he beats this. He said he will and he can. He is obviously a fighter. We all know that. He was a boxer at some point, a pugilist himself. They do have a deep edge. 200,000 plus people. Bill, thank you for joining us on this. Lubricant into being editor bloomberg pinchhitting editor bill cohan. Contributing editor bill cohan. Moving and shaking, and moving and shaking, former french president Nicolas Sarkozy. Investors want to know if his Political Party got political funding from moammar gadhafi, and they are looking into money he received from an air to the loreal fortune. A lawyer says it will not hold up. Nicolas sarkozy has been hinting that he might run on run for office again. In washington, president obama announced this week he would use executive action to reform immigration after roadblocks in Congress Left no chance this year. At that Clinton Global Initiative in denver, willow bay spoke with bill clinton about the subject. Immigration reform is really important. It is also really important to our values. We have always been a nation of immigrants and if we walk away from it, it will hurt us economically, and all the people that think that it will make them happy will not, so i predict we will become more or less polarized by shutting our barriers. I think it is more important to create opportunities and then aggregate our differences. Tonight at 9 00 30 9 30 p. M. Eastern time, do not miss our full interview with former president the clinton and other leaders about ideas bill clinton and other leaders about ideas to spur growth. Tmobile is accused of profiting from bogus fees. We are in d. C. With more on that onry, turning the tables tmobile. What are they being accused of . That is exactly right it is called cramming, a practice where the phone carrier faces charges on a consumers bill for Services Offered by a thirdparty Company Without telling them. Yet in the case of tmobile, the federal trade Commission Says that at least as far back as 2009 through 2013, the carrier placed unauthorized thirdparty charges for things like flirting tips, horror scopes, and celebrity gossip. It earned hundreds of millions of dollars. This disregarded telltale signs of fraud, ignored complaints, hd deceptively hit charges id charges on bills. The ceo said the ftc complaint was unfounded and without merit and that it is misdirected because it is the thirdparty providers that should be held accountable and taking to twitter he tweeted so, this lobbyists big carrier in washington work. The fcc is adding fuel to the fire, announcing they are also investigating customer complaint and is coordinating a probe with the fc ftc. Is the irony lost on him at all, yang yang . Not at all, because they have been marketing themselves as the un carrier. Fightinge tmobile is harder than any other carrier to change the way the industry works. He says they are the ones being singled out when everyone else is guilty of this. Win or lose, this was just filed in federal court yesterday. It was not good for tmobiles image. The ftc has taken action against three companies for cramming but tmobile is the first to be identified in a major suit like this. Yang yang, thank you so much. Yang yang in washington. Did you see the match . The world cup match between the u. S. And elgin, 100 and ium. ll jim belg 120 minutes of drama. Eric chemi, everyone was glued to the screen. Is a good thing it was not during market hours. We saw what we thought we were going to see, a lowscoring game. It was 00 at the end of 90 and that was the opportunity for the u. S. It was a super defensive game. There was not scoring until the very end. It played out at the end. Tim howard will probably get an endorsement deal. Saves, more than any goalie has ever had in a world cup game in recorded history. Belgium hadlgin so many shots, it was only a matter of time. Whenwas thinking about you it went into overtime because you said once it gets into had a better u. S. Chance. They almost pulled it off. They had a shot, 50 50. Ium will play argentina next. Rgentina is the favorite argentina is a better team than belgium and that will be a really good game. Does this change the odds are all about who might win the world cup . Overall it is still brazil. There are only eight teams left. Everyone who is in it, their numbers go up. Brazil is at the top, germany and argentina are at the top, and belgium has a 10 chance. If you look at europe and latin america, it is a 50 50 shot. They each have four teams in the final eight. Still number one for sure. Thank you, eric chemi. For the latest productions, had to bloomberg. Com rio. Coming up, remember when apple used to have the coolest ads out there . The Company Seems to be struggling, looking for its inner madman. How is it going to capture the glory days . Stephanie ruhle got a tour of the daytona us the way at a hundred 70 miles an hour. Well, it is jobs week and we are just getting the adp private payrolls report number 281,000 jobs created in the private sector, that is better than expected. Economics editor michael mckee, you have been digging through these numbers. . Ike better than expected is putting it mildly. People were wondering if we could continue the run of strong job growth with mixed numbers, but it looks like the companies are still hiring, at least that is what adp finds. 200 81,000, the strongest in quite some time. 200 81,000, the strongest in quite some time. Medium businesses added 115,000 jobs. Large businesses are the laggard, 49,000 jobs. 51,000 jobs were created in the goodsproducing sector. 12,000 in manufacturing. Adp has shown manufacturing to be week. If they are picking up jobs there, it could be a good sign for tomorrows jobs report, which is tomorrow because of the july 4 holiday. 213,000 private sector jobs to be created. This might cause people to ratchet that number up a bit. We are already seeing a reaction in the markets. 17,000, anybody . Thank you, michael mckee. Lets turn to apple, the iconic rent that used advertisements to get consumers to envision the future. The company made its decision to bring its advertising inhouse. It seems the reception from viewers has been a little bit cool. For more on apple bringing in its own inner don draper, we have ken siegel. He worked as a consultant with the company until 2008. He is also the author of insanely simple. Ken, great to see you. What do you think has happened here at apple . . Apple . The big thing that has is notd is steve jobs there, and the hall of fame created director is not part of the day today activities. You have a different crew on both side of the east asian equation. Steve jobsjobs came together on those ads. How would you describe the apple ads these days . My opinion is they are smaller. My Gold Standard is the mac versus pc campaign. They ran for over four years, was very effective, and people would talk about them the next day. Isn then the new stuff beautiful. When you mean softer, what you mean . It is beautifully shot, all around the world, but you do not sit around saying did you see that amazing apple ad . They are not as worthy like they used to be. As i see that, they are more about feeling good, and it is less about they do not go viral as much as they did, if you could call it viral in the 1980s and the 1990s when people talked about it. At that point, what does the company do . Bring it inhouse might be one way to take care of it, but it has its own pitfalls, right . That is true. It is a huge undertaking to build an agency. I do not know a lot of companies that have done it with success. An ad agency are trained professionals that do strategy and they have great leaders that have done this for, companies before. To build your own, it is a question of who is going to lead the charge. Do you have the experience . You can hire a bunch of good creative people, but you do not throw them in a room and expect great things to happen. You need to leadership and the vision, and steve jobs had that day today involvement, and he at this level of taste that was theytory and thisy involvement level of taste that was extraordinary. What did he exactly bring . What is it that made a difference . There is a great Youtube Video of when steve was asked about how we felt about microsoft, and he said basically they have no taste. He paused for a moment and he said i do not mean that in a little way. I mean that in a big way. That is exactly what he brought to the party. It is true. He had a level of taste is designed cents, his advertising ,ents, his design sense advertising, he would look at ideas and judge them in a genius type way. He did not believe in focus groups. It was i love this or i hate this, and you work until he loved something. What does it mean for the agency, the fact that apple is not happy with them and they have taken it inhouse . How do they try to win the account back . Good question. I do not know the answer. As the rumors go, we do not know what is really going on. They compete now with inhouse chains at apple, so you can only when these things by doing great work. You would assume that apple would say look, a little competition might yield something a lot more creative than what we have seen, or edgier. Ken segall, thank you for joining us. The former creative director for apple and the author of insanely simple. Coming up, lebron james and other nba stars decide to go the free agent route. Sure, they could get fat, new contracts, but it is not all about the money. First. Bloomberg. You are watching in the loop , live on Bloomberg Television and streaming on your phone, tablet, and on bloomberg. Com. Good morning. I am that a little. Diane betty liu. I am betty liu. It is 26 minutes past the hour. Bloomberg tv is on the markets. Equity futures have taken a turn for the higher. The private sector jobs report from adp coming in much better than expected. 200 81,000 jobs created last month, well above estimates of 2005000. That leads 2005000. That leads to tomorrows jobs report. A Controversial Program that forces google and facebook and other Web Companies to hand over email and other web traffic is legal and effective in preventing terrorist attacks, but the Program Needs to be revised to protect americans policy. That is the conclusion of a government oversight lord. Chief washington board. Chief washington correspondent peter cook has more on one of the programs leaked by edward snowden. One of his biggest regulations revelations. It raised questions about whether the nsa was sweeping up the email of average americans as they searched for foreign terrorists, and whether Major Tech Companies like the ones you mentioned were allowing it to happen. This report released by the privacy and Civil Liberties board, a Bipartisan Group appointed by the president and confirmed by congress, largely finds that not the case, and that the pogrom at its core is sound. Overall, the information has been valuable and effective in producing useful foreign intelligence, and the board has found no evidence of intentional abuse. ,he report does go on to say however, some features outside raise programs core questions regarding the reasonableness of the program and the report goes on to spell out several recommendations for bolstering Privacy Protection including requiring the government to require more targeting justification. There must be a clear foreign intelligence purpose. More limits on the fbis access. More written guidance for nsa and cia analyst and what to do when a query produces u. S. Citizen communications, and more filters to exclude domestic medications in the first place, something Tech Companies are very interested in. The panel said the recommendations do not require legal changes, but it is up to congress and the administration to see if any of these ideas make sense. Congress will vote this morning on a meeting in a meeting here in washington. What does this report means to the Tech Companies involved . It could be a boost for them, giving them political cover to the criticism they have been facing, especially overseas. Edward snowden revealed a long list of companies that have been forced to turn over information. It was to their dismay. This report provides an independent review and it could help the companies show they are not willing partners in the government surveillance programs and it offers more transparency on the program itself, something they have all been lobbying for. The report provides details on how the information is collected and processed, the most detailed to date. It is also evident this will not satisfy all of the prism criticisms. Thank you, peter cook, on the prism program. Here are the top headlines this morning more problems for general motors, not a recall, but an explosion at a factory in indiana. A blast killed one worker and injured eight others. The factory is back up and running this morning. Tyson foods and hell tire brands are moving ahead with merger plans. Tyson announced they will acquire all outstanding bands of brands avail shyer. Hillshire. It comes after the announced it would take a fee to end the merger. The first storm of the season is put in a damper on fourth of july celebrations. Byricane watches were posted the North Carolina outer banks and Tropical Storm watches are in effect for parts of north and south carolina, virginia, and florida, expected to bring heavy rain to new york as well, just in time to spoil the weekend. As we have been reporting, miami james, the wayon he, and chris bosh, stunned , and chrisyane wade bosh donned fans by saying they would opt for free agency. As a wayhis is viewed for them to get more money, but that might be more simplistic. Rosenberg by brian who teaches sports law. Tell us, what else could there be besides i want more money. Good morning. Is more considerations. The legacy of winning nba championships is a strong consideration, pacific lay those that are in the middle or late in their careers. How does becoming a free agent work then . It allows more flexibility on side, as on the player they can certainly discuss different arrangements where they could fit under the nba salary cap, but on the flipside, if a large number of individual are free agents it gives them flexibility to compile players and rosters for the upcoming season. We are talking about three major stars for the miami heat. Clearly, they know their worth, and they know how to back a team owner up against a wall. His is not unusual that the three of them would come together and do this . This is an unusual fact pattern. Four years ago there was a large number of free agents, but the defense was they were all coming from different teams. The anomaly here is that a large number of them were previously on the same team and they were quite successful. They made the nba finals four consecutive years, winning two out of four. Right. It the difference is they all simultaneously declared for free agency. The miami heat, the composition of their roster next year could be markedly different. This is all speculation right now, but as a team owner, how would you respond to this . What would be the strategy here . That is what is interesting. So, the nba collectivebargaining agreement, the agreement be