Gm, get this, has joined the that canuild the cars drive themselves. Driverless cars. Within two years, gm will offer a handsfree driving system on their cadillac designed to help them avoid crashes. People get into crashes and not the cars themselves. Are watchingry we closely as alibaba. Kicking off its roadshow today here in new york. Joined. , we are you are not too long ago in hong kong. What do we find out in this . Thank you. Good morning to you. If you take a look on friday, we saw four key pieces of information. This will be a record breaking deal in the United States. Priced at 66 billion dollars there it this will be the third most valuable company in the United States for an in dash for Internet Company trades here. Three is existing investors. Ot everyone will be selling the executive vice chairman will be selling. Yahoo has a 23 stake and will dilute themselves. Not is their largest investor, 34 . We actually got a fourpage letter written by the founder where he talks about the companys vision, he talks about how he knows he will face controversy but he believes it will set the stage for constructive debate. I found surprising he did not go into many details, that he will customers first, employees second and shareholders third. He did not go into too many details on what that means now the has public investors. I agree. It sounds a lot like jeff asus and the letter he writes out here and what will be notable . What should we expect on this roadshow . Meetings, how many are classifying what is happening . We know downtown a few blocks investors and the Senior Leadership that alibaba are meeting to go through various details. Do not expect too many surprises. There are going to be risks associated with this type of investing if you could outline those two attentional clients. From new york, he will do pretty much just the eastern seaboard. The then go west to san francisco. Hong kong on the 15th. He will be back here in new york again on the 18th. We expect a few shares to start trading on the 19th. Roadshows are growing. Physicallyt to be fit. Thank you. Do not miss the alibaba story,. Ur special tonight right here in the meantime, breaking news, just crossing the wires here. And chairman is stepping down from the company. Olivia sterns has more from the news desk on this transition. That is right. It is for personal reasons. Know she has been under ceosure to replace mark as because it had to restate its entire 2014 earnings. The target of several activist investors, including carl icahn. He himself has built up in a white 5 stake. Also said this morning they will proceed with plans to separate the rental business from the actual car rental business. An interesting development, under pressure to replace after seeing those results. Stepping down for personal reasons. Back to you. Thank you so much stepping down, the ceo. Back in washington, president obama says the u. S. Will go on the offensive in the middle east and he will further outline his plans on wednesday in a new speech. The tragedy will count on sunni nations to step up and take leading roles. Phil mattingly is just back from , where he also made several pieces of news lonnie was there. We heard from the president this weekend, a pretty frank conversation coming out from him. What are white house officials telling you he will announce on wednesday . Is this focus right now is an opportunity to lay out in detail everything the White House Administration and the u. S. As a whole will do to counter the state thus far and put together in a coherent way what they will do Going Forward you have seen the airstrikes going on in iraq. Hereill see a lot of that more than anything else, take a listen. What i will ask the American People to understand is this is a serious threat, we have the capacity to do with it, here is how we are going to deal with it. To make surengress they understand and support what our plan is. It will require resources above what were currently doing. He will lay out some reasons why he may take that action in the future very the president was asked about a much criticized decision. He headed to the golf course just moments after he made the remarks on the murder of u. S. Journalist james foley. Watching that interview, he sounded like he understood that was a gas there. A gaffe there. A tell you with about what the president says. They do not like feeling like they have to do something just because the media expects it. It is something the president underscored when he talked to when he talked to chuck todd. Is, it is not always comest naturally to me, but it matters. I am mindful of that. It matters. That is what the president was attempting to it knowledge during that interview. Thank you so much. Our white house correspondent. Jobs. Has 142,000 jobs in august, the worst month for growth, jobs growth this year. It is a point does this report really matter to the economy and the markets . Joining us for more is my guest host for the hour, a fourth is now ineteran who charge of not one but he does professional sports teams, basketball and hockey. Of theneil is the ceo sixers and the new jersey devils. He is on the board of a beverage and snack todd s company. He knows how the consumer is doing. Mike mckee is also draining me. Mike, you always get a dose of reality and you say, the jobs report does not really matter. It does not. Showing us theis economy is getting better. Growth itself, gdp growth, is often the first quarter. We had to snap back in the Second Quarter and it may be even better than we thought. This quarter is running about 3. 5 right now according to projections. The economy is growing. Everyone is worried about what the consumer is doing in retail. The latest numbers, back to school a little bit better than people thought. Up almost 5 in the last month of august than they were a year ago. How many job openings are there . There are over 3 million job openings out there. An acceleration in the last couple of months. Overall, things are starting to look better at a faster pace for the economy, even if we had one month where the numbers were not as good and were may be subject to seasonal adjustments. You have job openings. Are you finding it is hard to fill those jobs . We have very desirable jobs in sports. We probably hired 200 people this year. That is quite a few in our business. 100 million revenue businesses. We have probably 100 applicants for a job and do an intense screening process very are you seeing many more applicants for each job . I think it has been the same for the last five or six years, openings for consumers is pretty good right now. Jobs are available and when and you just have to go hunt and go get them. Whens it surprising to you you saw how few jobs were created that month . I do not track it like the two of you do. Me. 000 jobs sounds good to i like it and i like where the economy is. Anecdotally when i talk to ceos is an fans, they feel comfortable. Theyre buying tickets and food very ok. In a business where you Sell Companies as well as tickets. Youre looking for sponsorships and things like that. How is that going . Pretty good. Were up considerably from last year. Functionaltle more on how is the team performing. Have hope in both markets, which is pretty good. As i am out there talking to business leaders, they feel good here they are anxious about what is happening internationally isis you nationally. The isis crisis is on their minds. , and the the economy willingness to spend. What about looking at the fed and how theyre keeping that money cheap. Does any of that play into ceo confidence . For us, that is more about fans. Some people feel a sense of wealth when the market is up. It has been the riches of the rich who have benefited from the stock market rally. The ones who are are doing really well. The top 3 really mattered to you. The top 3 , i do not know about the net wealth. Probably 150,000 dollars per year. Those are our ticket buyers for sure. Stay with me for the hour. Thank you so much. Marriott. Up to win yet another double. U. S. Open champion we will be back. Marriott international is having in international plan. The hospitality and Hotel Company will add 1300 hotels globally. That is more than 600 six hotels a week. Now. Investing less over the nextrs three years. Ceo and president joining me now. Great to have you with us. Your investors say you are holding today in washington. I know you are still investing in your hotels and still investing in your company. Why 20 less than before . Wes our brands are sought after by real estate partners. We own almost nothing. We are in the business of managing hotels and our brands. Great partners all around the world. The stronger around the platforms, the more likely they are to want to invest in us and the less our capital is needed in those deals. In the next three years, we just do not think that much capital will be needed. Because why . Because we have got great real estate art nerds out there with great app tight for growth. The model we are laying out this morning for the investment is, what in washington does marriotts business look like in 2017, making certain assumptions about the economy, of course, how samestore sales growth grow. New hotel 200,000 rooms. Most of those are in our pipeline. We know what kind of capital is necessary for them. In the entirety, it is less than what we looked at a couple of years ago when we looked at the threeyear model. Some of us made a lot of the fact about 70 and percent of your rooms are in the u. S. Expansion, international markets, will that be much more of focus in the next three years . It is a huge priority to us. Growth0 of our unit will come outside of the United States. Travelseeing global really travel coming out of the developing world, expand dramatically. We had one billion International Trips for the first time in 2012. I suspect by Something Like 2020, we will see 2 billion. Rips annually and i will be great for our business. Also, what corporate customers are looking for catering through the business traveler. Another subject of hot debate, the same debate you at here and airlines, this charging of fees, it has only grown more and more and doubled in the last decade. Keep about 89 s of those fees. Are they only going to go up and how do you feel about them . Story. Is an odd i am not quite sure why it is one that has been repeated so often. The Hotel Business at marriott did not we do not charge for bags. By large, to book a room and. Ancel it unless of course you get a lower prepaid rate, still a very unusual thing for our customers to want to do. The fees we have charged are very low in number. We are not heading toward a model like the Airline Industry and we want very much to welcome our customers. I think we are doing that. Thank you. Great to see you. President and ceo of marriott international, their investor day is today. Coming up, the new york retail and real estate market. We will talk to one of new yorks top commercial real estate brokers. You are watching live on bloomberg television. I am betty liu. Scotland is considering breaking away from the u. K. At for the first time, a poll indicates a majority of voters in gotland favor independence. The u. K. Government is trying to persuade the company to stay by offering greater fiscal economy. The u. S. Ruled last week the company was grossly negligent in the 2010 gulf of mexico oil spill. A review of the ruling that would require to pay large sums not injuredpeople in oil spill. 350 million received for the. Tandard Family Foundation the hourminutes past as we kick off is monday and the trading week. Bloomberg television is on the market. Olivia sterns, our markets correspondent, has much more. Thank you. Time now for futures in focus. Gold futures starting the week little changed. Are easy between russia and the ukraine over the weekend. What is likely to move the price of gold Going Forward, ken hoffman and also todd horwitz, the founder of average joe options. Com. Lets start with you. Gold traders have mystified a lot of us this summer in the face of Major Political risk. A rise of the islamic stay in iraq. Gold is down 9 in the past 12 months. What is going on . It is interesting. The number one safe haven today seems to be the u. S. Dollar. Number two is gold. If i am in great written and i have William Wallace running and saying i, have to get scotland away from britain, gold is up 2 from last week. When you are seeing turmoil in those currencies, gold is going up. People who like to structure trade to say, i think there might be turmoil and gold, you ld structure a deal where with long, british pound gold. King and thear is gold price is down. Interesting. Perhaps gold losing a little bit of its luster at the safe haven. With all of that in mind, how would you be trading gold right now . Good morning. Gold has been in a wicked congestion pattern over the last year. I will use that 1240 level and right below it, i will get out and move on. Chance to outstanding get back to the 1340 level, based on what is going on. If it loses some of its strength, that will be better for gold. Gold is benchmarked against the u. S. Dollar. We will see gold star to move back higher. To 1340. Back lets put your trade in laymans perspective. Severeld explain what congestion means. If you buy gold at the current and then you close it, gold futures covers 100 ounces. Total for the contracted 7,000. Why is that the level . Gold could go a lot higher, just as it could go a lot lower. The first target i would look for to create major resistance that might turn away. Gold eventually could probably go back to the highs of 1920s. Timeok at one level at a and the next big level in gold would be 1340 in my eyes. That would be my first, initial target. I would move up my support level and my exit point higher, hoping it would break through and go higher because i think everybody should own a little bit of gold andheir long term portfolio in debt in their investment. Thank you for joining us here , a little bitman of an expert on William Wallace. Dexia. All right. Thank you. Our markets correspondent. Last week, highend retailer announced its first ever foray into manhattan. Colossal, threestory Flagship Store in 2018. I was joined last week by the market ceo and asked her about any incentive they received. There are always negotiations that go on in these kinds of deals. Not forthcoming on that front. Someone who might have an idea, the chair of the retail group. A whos who of luxury retailers, including many of the top brands on new york ossies fifth and madison avenue and is, my guest host for the hour, 76ers ceo, scott oneill. Lets start with you. Give me a clue. What have they got . Everything area the works. This, related on a retailer, they are relentless. They had worked on trying to make a deal with nordstrom and time warner. Baileys felt we needed to have more Department Stores in new york. For a deal like this, they build the location out, they virtually give them a turn. Does that mean they build this as a loss . I do not think related is a loss. This is an anchor that will ensure traffic there are they willing to lose to gain . Even if there is a loss on the deal, and i am not saying there is, there is a huge gain for the project. It not only attracts Major Companies offshore, but it ensures they will have a retail environment. To do it better than anybody, they have showed us that all over the country. Warner,cially in time columbus circle, which no one believes in, i dont think it is a matter of dollars. It is an investment in building a city. We are talking about it now. Been in this business, per se, but you know a lot about real estate. I do there and i spent a lot of time on the real estate midtown. How do you become the clean of retail . How does that happen . Gave was a newscaster who me the title many years ago and i cannot remember which. It was a turning point and it just stuck. They now go to you. We hope so. There are others, but we do not mention them. You mentioned the anchor. Talk to us a little bit about how important it is. We believe that we believe in transference. Others will follow desirable brands there and if we do this at a breakeven, there are other follow. Ey will absolutely. They have been in conversation with several trophy retailers. They have coach therefore the authors. They are probably going to get similar. Ajor center retailers really follow each other. I have an expression that i do not want the retailers to get angry but they are like sheep. They flock together. It is the synergy of having them altogether. What this will do, it is really, the westside has never been known for great retailer, certainly not luxury. Until a few years ago, there were they were all in sweat pants and sneakers. Followed and else that went on broadway. Alumbus circle was certainly drug. The lineup is continuing. What about cannibalizing their business . That is so far away. It is very small. They call it a Department Store, but it is really a specialty store. They have clientele. With a name like this, people will follow. They set up a popup on the boat and people have been waiting for so long. Is it a little bit like whole foods . Ofy will sometimes go ahead the market and sometimes follow the market. When it goes in, it is the stamp of approval. It is. Whole foods will still have that component at this project. Whole foods is the hypermarket concept. Youre absolutely right, a Department Store is a traffic generator. A name like this, it is not goldman sachs. We love them. Please. , a lead is a new name brand. York and wen new believe in luxury and we believe in the westside. Exactly. That is key. Thank you so much. The vision is coming to life there. Thank you so much for joining us. Stays with me through the hour. Another nba team is up for sale over racial remarks. We will tell you what the owner of the Atlanta Hawks said exactly. And shaking this hour, the owner of the Atlanta Hawks pro basketball team. He plans to sell his controlling stake in the team while the nba investigates a racist email he sent to a hawks executive. He self report of the email, written two years ago. Focus on the hawks attendance problem and their inability to track suburban to attract suburban white fans.