Transcripts For BLOOMBERG In The Loop With Betty Liu 2014111

Deportation. Senate supporters of the Keystone Pipeline came up one vote short last night. 41 and it was a blow to senator Mary Landrieu who wanted the Keystone Pipeline to pass. Only 14 of her fellow democrats voted in favor. Here,makes sense for jobs jobs in canada, jobs in mexico and makes sense for us to stand against the tyrants of this world. The battle over keystone is not over. Mitch mcconnell says it will come for a vote next year when republicans have a majority in congress. The central bank has agreed to stay the course with record monetary stimulus. It came one day after Prime Minister shinso abe said he would delay a sales tax hike. It is blamed for pushing them into recession. The u. S. Is demanding the automakers expanded airbag recall nationwide. There has already been a recall of almost 8 million cars with airbags made by japans takata corporation. Have malfunctioned and high humidity states. A nationwide recall good peoples lives at risk by diverting Replacement Parts from the riskiest regions. Get ready for the cold. By the end of today, parts of upstate new york may have six feet of snow on the ground others likely to be more by the end of the week. A winter storm is pounding the great lakes states. Track, winterping is not officially beginning until december 21. We are still a long ways away from winter. There we are shoveling snow up north. , justng news on target that with their Third Quarter results and julie hyman has more. It looks like a Strong Quarter for target. Some of the other retailers i like as well. It looks like a beat on sales and earnings. We have seen jockeying between the two in the Third Quarter. The target revenue as well as estimates. S beating earnings were up about three percent on a pershare basis, . 54, . 47 is what analysts anticipated. Samestore sales are double and they say that was helped by online orders which rose by 30 . Target has been criticized by some for lagging its competitors on the online arena but looks like it is catching up. , a former pepsi executive, took the reins of target back in august and he has been working hard to turn around the u. S. Business as well as repair some of the damage target has done in canada. Comps sales are also up 1. 6 on sales over all, 43. 8 . It looks like some of their efforts there are bearing fruit. What else is target doing to turn itself around . Remember last year at this time, we first learned of the target hack. It was already struggling to some extent had lost some of its cachet as being the sort of cooler massmarket retailer. Then the hack attack happened and that hurt an already damaged rent. Cornell came in and doing some new and interesting partnerships. Stephanie ruhle will talk to a small boutique in new york later in her show that has partnered with target, providing an incubator or laboratory for some of its products. It is try some new things, looking at fresher products. Canada is also part of the of where cornell has set his sights and improving operations. The numbers from canada show those efforts are beginning to bear fruit. Thank you so much. Back to washington, she did not get to the magic 60, louisiana senator Mary Landrieu fell to get the number of votes needed to approve the Keystone Pipeline last night. In the meantime, president obama set to go it alone on immigration in a move that could open the door to another shut down as we head into the Holiday Season. Merry christmas to everyone. Our team and easy as following the action with peter cook on the hill and White House Correspondent phil mattingly. What happened here with keystone . She missed by just one vote . She expressed confidence early in the week that she would get the 60 votes but Mary Landrieu was unsuccessful despite all the armtwisting. She was on the floor last night as the vote was happening trying to sway reluctant democrats to back this project over the objection of environmental groups. This is a project that is critical she says to her home state of louisiana. Should push for this vote that fell short. You know full well that is coming right back at us in january. The bubble can later Mitch Mcconnell has already said this will be one of the first things in january. They want the president to consider this project so its not a done deal. On the president ial side, what will the president do . Could he possibly use the keystone as a bargaining chip when it comes to negotiating with republicans after january . White house officials dont dismiss that as a possibility. You have to look at the context its there is a recognition that once republicans take control of the senate will move this through. Expressede officials frustration that this project has become overblown, more of a big issue for environmentalist then it should be based on the impact it would have. If it does not have a major impact on Climate Change its something the it ministration could go forward with. That means it is definitely a possibility that is a bargaining trip thanks chip next congress. What does this mean for the Mary Landrieu Runoff Election . She is in an uphill fight to hold onto her senate seat. The polls show her opponent has been up the she has reasserted herself and her clout on capitol hill and forcing this vote and getting into a prominent state but the she but she fell short on this will hurt her. Her opponent supports this project of his name is on this legislation as wells was hard to imagine this fight will put her over the top. It certainly has not hurt her. There is a lot going on in washington. At the white house, the president is expected, as we are all expecting him an executive order and immigration. What do we know so far and when might this happen . This is a long time coming. We know the scope is about four5 Million People expected by this executive order as soon as tomorrow barring any major change, it will apply to children who are u. S. Citizens and their parents if they are Illegal Immigrants you get a reprieve from deportation as should permanent legal residence but there will be a Business Community piece of this. Worker permits for foreign students undergraduate in u. S. University in majors in math, science, engineering, technology, those students get expanded worker permits on the program will expand to 5 Million People as soon as tomorrow. We have an waiting for this and this will spark a fight with republicans on capitol hill. I know the president was pressed on this to answer this question. Why now . White issue an executive order and immigration when he has had years to address this issue . He has always said his hands were tied. What is he now feel he has the ability to go it alone on this . We have heard from the administration the president has been waiting for republicans to move and they have not so he has to do something. You are right that there are republicans appear who feel if the president does this tomorrow, it will be a slap in their face and a rejection of the Election Results in the other day. The reality is that cooler heads are likely to prevail. Republicans are already backing away from the talk of a shutdown over this issue. They will retaliate in some fashion. You can expect them to try to limit and block the president s ability to execute this executive action, maybe limit the funding for the agencies responsible. It will poison the well but at the end of the day, the administration and republicans think that they will be able to move on to some other issues this year. This does not make things get off on a good foot next year. Thank you so much. Lets get more on the news that u. S. Regulators want automakers to expand their recall of vehicles installed with a takatamade air bags nationwide. Jeff green joins us. 8 million cars of already been recalled. What are we talking about with a nationwide recall . Its hard to say because we dont know which vehicles. Theyre talking about driverside airbags and many of the in much of the focus has been on the passenger side. We did a study earlier this year we looked at how many vehicles have been recalled and how many were sold. About half those vehicles have been recalled in the regional recall so you can see another 7 million vehicles if they made this national. It could double. What does this mean . Takata is a japanesebased company so what forced to they had to put together a nationwide recall . Taklata will not do the recall. It will be under the automobile makers. Has can push back but nitsa Regulatory Authority and can force a recall but it may end up in court. This is something that is scaring customers. Honda is replacing airbags are people who dont have anything wrong with their car just to handle the fear. This is the kind of thing the automakers will go around takata is not seeing the evidence that was a just you need a national recall. They say this is a humidity problem. There has been many people pushing for this all along that there are cars that drive around just because i live in a state is not humid, i might drive to one. It doesnt make sense to a lot of people. This is very confusing. Takata came out with a statement that said they tested about 1000 of these insulators in nonhuman states and they said they had no issues. Nonhumid states and they set a nationwide recall could put peoples lives at risk as it would diverge replacement airbags. Replacementdivert airbags. I am really confused now. There has been an escalation all along. These things have been happening little recalls and you have a shortage already. There are not enough parts to replace the airbags that need to be replaced and this is expanding and its an issue. It makes it more likely that another airbag manufacture would be asked to help come up with a supply. Takata has resisted that has the authority to let other parts supplier make their parts to get the supply out. Thats the Biggest Issue right now or where the parts will come from. We might get clarity tomorrow with a Senate Hearing on this issue. Thank you so much. Much more ahead on that demand for a nationwide recall. That has been the talk of the l. A. Autoshow and matt miller is there. Plus, a big interview from the ford America President we will get his take on this recall. Behind the scenes as things got work at blackberry, the former ceo tells us what that was like managing in a crisis. There has been lots happening at blackberry lately, hoping to carve that name back into the mobile carrier market. Fans can get an their hands on the classic blackberry after they announced the release of the phone on december 17, just in time for the Holiday Season. Company has seen many changes over the last few years. I sat down with the former blackberry ceo, Torsten Heinze einz. Rst thorston h i dont regret the time at all. It was exciting when i started. With both the smart phone portfolio rose the revenue of the company to above 10 billion. That was lots of fun and then things got hotter. You stick to what you need to do. The last two years frankly, were quite rough. But somebody had to do this. We have to save that company. We had to put it in a whole different context in a very dramatic and strategic changes in terms of the Business Model and the related r d programs. If you look back, and is always 20 20 hindsight. At that point in time, under huge pressure with an excellent team, what we did is we laid the groundwork on all the different platforms like blackberry 10 and the cloud and the blackberry that now platform o the new Management Team can execute on and i wish them the best and i wish them success that these platforms carry them into the future and that they managed to turn the company around. You did lay the foundation. Thats how i look back to my blackberry time. There is a new team and thumbs up, you have to get it done. Do you think john chen is doing a good job . Yes, from what i can tell but its not on me to judge him. Thats not what my position is. In terms of what i see from execution, what his team is doing, i think theyre continuing that path on a very disciplined especially execution. Fingers crossed that they will make it. What did people not understand or you felt like was the toughest moment for you at blackberry . What we could have explained better is in order to change the Business Model of blackberry, we would have to separate the handset from the end model. You get the handset and you get the best fee. To become an enterprise player and get flexibility what you want to do with handsets, we had to break this up. It was not easy but it was a whole new strategy of how you build the product and enterprise. Time, it was not well understood or not well communicated. That actually was the crucial element of the strategy that i laid out and executed against. They are executing a menu of things like enterprise and are looking at selling into the International Market at a different price point and a blackberry. You in the seat of telling john chen what to do but where do you think blackberry has the biggest opportunity . Is it in enterprise or emerging markets or software . I can only offer my opinion. It is with john chen to actually have a debate about this and set the direction for the company. Clearly, blackberry in my view in the enterprise. As the most modern operating system that is out there and the most secure. That gives blackberry room to explore even things way beyond just handsets are enterprise. Think about the internet of things or the internet of everything. Business will need would blackberry has. You want all those sensors and permits to be secure. Guess who is the most secure on the planet on this one . Has the elements to build a forward going strategy once he has managed to turn around to the final positive and. I am very positive about what he could do with all the elements that blackberry has at hand. The former ceo of blackberry and later he returns as he takes the reins as the ceo of power matt. Controversy over Comedian Bill Cosby will see what that is doing to his plans for a televised comeback. Plus, another Insider Trading investigation and this time it involves one of the biggest banks in europe. You are watching in the loop we live, on Bloomberg Television, streaming on your phone, your tablet, and bloomberg. Com. Bnp paribas is the subject of an Insider Trading probe with the investigation focusing on stock sales by senior officials during 2013 come a time when he was authorities were looking into the banks dealings. Bnp paribas was found find a record eight point 7 billion in june 8. 7 billion for violating u. S. Trade sections. Toronto is seeking court order to shut down uber. Has beensays uber operating there without a license since 2012 in toronto cited concerns about their operations including a lack of driver training, i lack of insurance and increased traffic and the scandals uttered by one of its Senior Executives yesterday against the press. Netflix reversed course dropping plans to run a comedy special starring bill cosby following rape allegations against the 77yearold comedian and actor. Netflix yesterday still plans to run the show after allegations resurfaced that bill cosby drugged and raped several women for more than a decade ago. The performance was scheduled to go live the day after thanksgiving. On the market, the 26 minutes past the hour and an hour away from the opening bell and Bloomberg Television is on the markets. Equity futures are slightly down and slightly in the red this morning. Housing starts are expected to be out in a few moments. One million starts are expected for the month of october in Housing Starts are estimated to rise by about 6. 3 . We are on the markets again 30 minutes. Microsoft is opening a store on fifth avenue in new york and why for the techd move company and the folks on fifth avenue. Are use private jets are benefit of falling gas prices and paul allen got his hands on one well talk with the ceo of the private of a private jet broker on this trend, stay in the loop. Breaking news out on the Housing Market is just out with Housing Starts one million starts for the month of october. That is slightly below what economists had estimated. That represents a decline, down almost three percent in Housing Starts so maybe some bad news on the Housing Market. Lets get to julie hyman whos got more on these numbers. Some stuttering momentum in terms of Housing Starts it and though the earlier month of toptember was revised higher 1. 0 8 million. The number is about one million for october which represents a decline because the earlier month was revised higher so that decline gets eager. On the flipside of that, Building Permits came in stronger than had been estimated by economists, 1. 0 8 million on an annual pace. That september number was also revised higher so that you get an increase of 4. 8 in Building Permits. That tends to be a forwardlooking measure. That could be a little more of a positive sign. It looks like whats going on is that you are seeing Building Permits could be a more positive sign offsetting the Housing Starts. Seeingicular, we are multi family projects. Thats where we are seeing the Keystone Pipeline<\/a> came up one vote short last night. 41 and it was a blow to senator Mary Landrieu<\/a> who wanted the Keystone Pipeline<\/a> to pass. Only 14 of her fellow democrats voted in favor. Here,makes sense for jobs jobs in canada, jobs in mexico and makes sense for us to stand against the tyrants of this world. The battle over keystone is not over. Mitch mcconnell says it will come for a vote next year when republicans have a majority in congress. The central bank has agreed to stay the course with record monetary stimulus. It came one day after Prime Minister<\/a> shinso abe said he would delay a sales tax hike. It is blamed for pushing them into recession. The u. S. Is demanding the automakers expanded airbag recall nationwide. There has already been a recall of almost 8 million cars with airbags made by japans takata corporation. Have malfunctioned and high humidity states. A nationwide recall good peoples lives at risk by diverting Replacement Parts<\/a> from the riskiest regions. Get ready for the cold. By the end of today, parts of upstate new york may have six feet of snow on the ground others likely to be more by the end of the week. A winter storm is pounding the great lakes states. Track, winterping is not officially beginning until december 21. We are still a long ways away from winter. There we are shoveling snow up north. , justng news on target that with their Third Quarter<\/a> results and julie hyman has more. It looks like a Strong Quarter<\/a> for target. Some of the other retailers i like as well. It looks like a beat on sales and earnings. We have seen jockeying between the two in the Third Quarter<\/a>. The target revenue as well as estimates. S beating earnings were up about three percent on a pershare basis, . 54, . 47 is what analysts anticipated. Samestore sales are double and they say that was helped by online orders which rose by 30 . Target has been criticized by some for lagging its competitors on the online arena but looks like it is catching up. , a former pepsi executive, took the reins of target back in august and he has been working hard to turn around the u. S. Business as well as repair some of the damage target has done in canada. Comps sales are also up 1. 6 on sales over all, 43. 8 . It looks like some of their efforts there are bearing fruit. What else is target doing to turn itself around . Remember last year at this time, we first learned of the target hack. It was already struggling to some extent had lost some of its cachet as being the sort of cooler massmarket retailer. Then the hack attack happened and that hurt an already damaged rent. Cornell came in and doing some new and interesting partnerships. Stephanie ruhle will talk to a small boutique in new york later in her show that has partnered with target, providing an incubator or laboratory for some of its products. It is try some new things, looking at fresher products. Canada is also part of the of where cornell has set his sights and improving operations. The numbers from canada show those efforts are beginning to bear fruit. Thank you so much. Back to washington, she did not get to the magic 60, louisiana senator Mary Landrieu<\/a> fell to get the number of votes needed to approve the Keystone Pipeline<\/a> last night. In the meantime, president obama set to go it alone on immigration in a move that could open the door to another shut down as we head into the Holiday Season<\/a>. Merry christmas to everyone. Our team and easy as following the action with peter cook on the hill and White House Correspondent<\/a> phil mattingly. What happened here with keystone . She missed by just one vote . She expressed confidence early in the week that she would get the 60 votes but Mary Landrieu<\/a> was unsuccessful despite all the armtwisting. She was on the floor last night as the vote was happening trying to sway reluctant democrats to back this project over the objection of environmental groups. This is a project that is critical she says to her home state of louisiana. Should push for this vote that fell short. You know full well that is coming right back at us in january. The bubble can later Mitch Mcconnell<\/a> has already said this will be one of the first things in january. They want the president to consider this project so its not a done deal. On the president ial side, what will the president do . Could he possibly use the keystone as a bargaining chip when it comes to negotiating with republicans after january . White house officials dont dismiss that as a possibility. You have to look at the context its there is a recognition that once republicans take control of the senate will move this through. Expressede officials frustration that this project has become overblown, more of a big issue for environmentalist then it should be based on the impact it would have. If it does not have a major impact on Climate Change<\/a> its something the it ministration could go forward with. That means it is definitely a possibility that is a bargaining trip thanks chip next congress. What does this mean for the Mary Landrieu<\/a> Runoff Election<\/a> . She is in an uphill fight to hold onto her senate seat. The polls show her opponent has been up the she has reasserted herself and her clout on capitol hill and forcing this vote and getting into a prominent state but the she but she fell short on this will hurt her. Her opponent supports this project of his name is on this legislation as wells was hard to imagine this fight will put her over the top. It certainly has not hurt her. There is a lot going on in washington. At the white house, the president is expected, as we are all expecting him an executive order and immigration. What do we know so far and when might this happen . This is a long time coming. We know the scope is about four5 Million People<\/a> expected by this executive order as soon as tomorrow barring any major change, it will apply to children who are u. S. Citizens and their parents if they are Illegal Immigrants<\/a> you get a reprieve from deportation as should permanent legal residence but there will be a Business Community<\/a> piece of this. Worker permits for foreign students undergraduate in u. S. University in majors in math, science, engineering, technology, those students get expanded worker permits on the program will expand to 5 Million People<\/a> as soon as tomorrow. We have an waiting for this and this will spark a fight with republicans on capitol hill. I know the president was pressed on this to answer this question. Why now . White issue an executive order and immigration when he has had years to address this issue . He has always said his hands were tied. What is he now feel he has the ability to go it alone on this . We have heard from the administration the president has been waiting for republicans to move and they have not so he has to do something. You are right that there are republicans appear who feel if the president does this tomorrow, it will be a slap in their face and a rejection of the Election Results<\/a> in the other day. The reality is that cooler heads are likely to prevail. Republicans are already backing away from the talk of a shutdown over this issue. They will retaliate in some fashion. You can expect them to try to limit and block the president s ability to execute this executive action, maybe limit the funding for the agencies responsible. It will poison the well but at the end of the day, the administration and republicans think that they will be able to move on to some other issues this year. This does not make things get off on a good foot next year. Thank you so much. Lets get more on the news that u. S. Regulators want automakers to expand their recall of vehicles installed with a takatamade air bags nationwide. Jeff green joins us. 8 million cars of already been recalled. What are we talking about with a nationwide recall . Its hard to say because we dont know which vehicles. Theyre talking about driverside airbags and many of the in much of the focus has been on the passenger side. We did a study earlier this year we looked at how many vehicles have been recalled and how many were sold. About half those vehicles have been recalled in the regional recall so you can see another 7 million vehicles if they made this national. It could double. What does this mean . Takata is a japanesebased company so what forced to they had to put together a nationwide recall . Taklata will not do the recall. It will be under the automobile makers. Has can push back but nitsa Regulatory Authority<\/a> and can force a recall but it may end up in court. This is something that is scaring customers. Honda is replacing airbags are people who dont have anything wrong with their car just to handle the fear. This is the kind of thing the automakers will go around takata is not seeing the evidence that was a just you need a national recall. They say this is a humidity problem. There has been many people pushing for this all along that there are cars that drive around just because i live in a state is not humid, i might drive to one. It doesnt make sense to a lot of people. This is very confusing. Takata came out with a statement that said they tested about 1000 of these insulators in nonhuman states and they said they had no issues. Nonhumid states and they set a nationwide recall could put peoples lives at risk as it would diverge replacement airbags. Replacementdivert airbags. I am really confused now. There has been an escalation all along. These things have been happening little recalls and you have a shortage already. There are not enough parts to replace the airbags that need to be replaced and this is expanding and its an issue. It makes it more likely that another airbag manufacture would be asked to help come up with a supply. Takata has resisted that has the authority to let other parts supplier make their parts to get the supply out. Thats the Biggest Issue<\/a> right now or where the parts will come from. We might get clarity tomorrow with a Senate Hearing<\/a> on this issue. Thank you so much. Much more ahead on that demand for a nationwide recall. That has been the talk of the l. A. Autoshow and matt miller is there. Plus, a big interview from the ford America President<\/a> we will get his take on this recall. Behind the scenes as things got work at blackberry, the former ceo tells us what that was like managing in a crisis. There has been lots happening at blackberry lately, hoping to carve that name back into the mobile carrier market. Fans can get an their hands on the classic blackberry after they announced the release of the phone on december 17, just in time for the Holiday Season<\/a>. Company has seen many changes over the last few years. I sat down with the former blackberry ceo, Torsten Heinze<\/a> einz. Rst thorston h i dont regret the time at all. It was exciting when i started. With both the smart phone portfolio rose the revenue of the company to above 10 billion. That was lots of fun and then things got hotter. You stick to what you need to do. The last two years frankly, were quite rough. But somebody had to do this. We have to save that company. We had to put it in a whole different context in a very dramatic and strategic changes in terms of the Business Model<\/a> and the related r d programs. If you look back, and is always 20 20 hindsight. At that point in time, under huge pressure with an excellent team, what we did is we laid the groundwork on all the different platforms like blackberry 10 and the cloud and the blackberry that now platform o the new Management Team<\/a> can execute on and i wish them the best and i wish them success that these platforms carry them into the future and that they managed to turn the company around. You did lay the foundation. Thats how i look back to my blackberry time. There is a new team and thumbs up, you have to get it done. Do you think john chen is doing a good job . Yes, from what i can tell but its not on me to judge him. Thats not what my position is. In terms of what i see from execution, what his team is doing, i think theyre continuing that path on a very disciplined especially execution. Fingers crossed that they will make it. What did people not understand or you felt like was the toughest moment for you at blackberry . What we could have explained better is in order to change the Business Model<\/a> of blackberry, we would have to separate the handset from the end model. You get the handset and you get the best fee. To become an enterprise player and get flexibility what you want to do with handsets, we had to break this up. It was not easy but it was a whole new strategy of how you build the product and enterprise. Time, it was not well understood or not well communicated. That actually was the crucial element of the strategy that i laid out and executed against. They are executing a menu of things like enterprise and are looking at selling into the International Market<\/a> at a different price point and a blackberry. You in the seat of telling john chen what to do but where do you think blackberry has the biggest opportunity . Is it in enterprise or emerging markets or software . I can only offer my opinion. It is with john chen to actually have a debate about this and set the direction for the company. Clearly, blackberry in my view in the enterprise. As the most modern operating system that is out there and the most secure. That gives blackberry room to explore even things way beyond just handsets are enterprise. Think about the internet of things or the internet of everything. Business will need would blackberry has. You want all those sensors and permits to be secure. Guess who is the most secure on the planet on this one . Has the elements to build a forward going strategy once he has managed to turn around to the final positive and. I am very positive about what he could do with all the elements that blackberry has at hand. The former ceo of blackberry and later he returns as he takes the reins as the ceo of power matt. Controversy over Comedian Bill Cosby<\/a> will see what that is doing to his plans for a televised comeback. Plus, another Insider Trading<\/a> investigation and this time it involves one of the biggest banks in europe. You are watching in the loop we live, on Bloomberg Television<\/a>, streaming on your phone, your tablet, and bloomberg. Com. Bnp paribas is the subject of an Insider Trading<\/a> probe with the investigation focusing on stock sales by senior officials during 2013 come a time when he was authorities were looking into the banks dealings. Bnp paribas was found find a record eight point 7 billion in june 8. 7 billion for violating u. S. Trade sections. Toronto is seeking court order to shut down uber. Has beensays uber operating there without a license since 2012 in toronto cited concerns about their operations including a lack of driver training, i lack of insurance and increased traffic and the scandals uttered by one of its Senior Executives<\/a> yesterday against the press. Netflix reversed course dropping plans to run a comedy special starring bill cosby following rape allegations against the 77yearold comedian and actor. Netflix yesterday still plans to run the show after allegations resurfaced that bill cosby drugged and raped several women for more than a decade ago. The performance was scheduled to go live the day after thanksgiving. On the market, the 26 minutes past the hour and an hour away from the opening bell and Bloomberg Television<\/a> is on the markets. Equity futures are slightly down and slightly in the red this morning. Housing starts are expected to be out in a few moments. One million starts are expected for the month of october in Housing Starts<\/a> are estimated to rise by about 6. 3 . We are on the markets again 30 minutes. Microsoft is opening a store on fifth avenue in new york and why for the techd move company and the folks on fifth avenue. Are use private jets are benefit of falling gas prices and paul allen got his hands on one well talk with the ceo of the private of a private jet broker on this trend, stay in the loop. Breaking news out on the Housing Market<\/a> is just out with Housing Starts<\/a> one million starts for the month of october. That is slightly below what economists had estimated. That represents a decline, down almost three percent in Housing Starts<\/a> so maybe some bad news on the Housing Market<\/a>. Lets get to julie hyman whos got more on these numbers. Some stuttering momentum in terms of Housing Starts<\/a> it and though the earlier month of toptember was revised higher 1. 0 8 million. The number is about one million for october which represents a decline because the earlier month was revised higher so that decline gets eager. On the flipside of that, Building Permits<\/a> came in stronger than had been estimated by economists, 1. 0 8 million on an annual pace. That september number was also revised higher so that you get an increase of 4. 8 in Building Permits<\/a>. That tends to be a forwardlooking measure. That could be a little more of a positive sign. It looks like whats going on is that you are seeing Building Permits<\/a> could be a more positive sign offsetting the Housing Starts<\/a>. Seeingicular, we are multi family projects. Thats where we are seeing the Building Permits<\/a> its not necessarily singlefamily homes. We are seeing a lot of apartment buildings. Thank you so much. Automakers in california are unveiling therell no was models and concept cars. And are shiny and pretty cool but back in washington, regulators are pushing for a nationwide recall oftakata airbags. Matt miller is at the l. A. Autoshow. I imagine this recall by nitsa on the air back to some of the talk of the l. A. Autoshow. That was definitely the talk of the town yesterday. The show has not started yet, it still 5 30 a. M. They wake up later than we do anyway. All the journalists i spent time with yesterday and a lot of the executives as well were saying they thought it was a little bit strange that you would try to recall cars only in certain regions of the u. S. Which is what the to contact which is what the takata recall said. Nitsa said you have to recall the nationwide. They wanted to recall the problems with airbags in high humidity areas that people drive them to different places so thats fairly obvious. As far as the backlash, it does not seem to be huge since almost every single carmaker uses their airbags. Takata almost has a monopoly on airbag supply. So far, you have not seen any executives badmouth their main supplier of airbags. I know you will talk to doubt joe hendrix in the next hour from ford. What have they said about the recalls . Fields, the ceo last week what he thought about it and he said he has not seen any specific problems of the cars they tested and they have had a Good Relationship<\/a> with their supplier. Bill ford said the same thing. We have not heard any bad mouthing, any change of plans as far as new airbag suppliers. I dont think manufacturers have really anyone else to go to. No one else can make that many airbags this quickly. Beyond this news, what about the news of all the new models being shown on the floor there . What are some of the cool things you have seen . There are 66 new models here. Obviously, i am in heaven looking at these new cars. There is a new mustang gt350 which is more track focused and i think its one of the most important cars of the show and i will talk about that but there is a new volvo xc90 which is one of the biggest hits of the suv craze and theyre bringing it out again to hopefully revitalize that company. Comparedg is the show to the geneva auto show or the new York Auto Show<\/a> . Geneva is all about luxury. York is more about cars that people will buy right away. This autoshow is more about technology. Its about the Safety Equipment<\/a> in cars and the drivability. Cmoked a jim farley, the yesterday and this is what he had to say. A lot of automotive trends start here, not just electric but enthusiasts. Hereentities use live because the weather allows them to enjoy the car and thats why platinum series explore was launched here and thats why the was launched in carols house in gardena where he developed the iconic for its. Fords thoseor iconic fords. Products and the energy products, thats what makes l. A. Special for us. Basically, a lot of gearheads here. Its not the same as detroit, a little bit different, but its a car culture. Thank you so much. He mentioned, you will be back in the next hour with the ford America President<\/a> joe hendrick. From automobiles to jets, heres another impact of Falling Oil Prices<\/a> more hard to find private jets are now up for sale. The price of oil has fallen back to levels not seen since 2010. Down 38 frome is its 2011 high up 126 per barrel. Its a painful drop the Big Oil Companies<\/a> and the all Petroleum Exporting<\/a> countries in the middle east, africa, and russia. What do you do . Many businesses and those countries and wealthy individuals are selling their assets to raise money. One of the large assets on the table is private jets. At this trend is dan jennings, the ceo of the private jet company which brokers deals for these jets. Great to see you this morning. Thanks for having me back. I know there is one very which buyer of this trend is paul allen and you spoke with his people before . He was in the market a few months ago for this gulfstream 650 and could not find it at all but now these middle east guys are selling these jets and he was able to pick one up . It was not a middle eastern a result of the there are many in the market. He waited a while and was smart and took a long time to find it but he ultimately save money. I have to give him credit. How much do think he saved . Maybe 5 million is by waiting. I feel like for a billionaire that is chump change. You are right. Do withknew what to their money and thats how they got to be billionaires. What is going on here . What is being sold now on the market . Is this the most number of jets you have seen for sale in years because of this Oil Price Plunge<\/a> . Its not exactly affecting aviation just yet but its on the horizon. Orit continues to decline goes further, you will see large sellers coming out of russia and the opec regions and nigeria, the middle east, all the regions around the world and even the United States<\/a> like in texas markets and canadian markets will be sellers. We are seeing russia right now as a large seller. Maybe its geopolitical but they are sellers, 20 of the registered fleet is for sale. When its 20 for sale, thats a buyers market . Anything over 10 is a buyers market so thats a strong buyers market. Its difficult to figure out exactly where russians register their aircraft. The planes are registered all over the world but in general, thats the number and we are doing a transaction russian now. Are they doing it because they need to get dollars . I think so. They want to get dollars out of the country and are concerned about what may happen in the future with the ruble in their own businesses and certainly most of these people are links to oil production. East, themiddle conventional wisdom is that these guys middle east are so rich that any decline in oil prices, they would be able to buffer but thats not exactly the tale being told . Yes and no. At a certain point, you are insulated from market gyrations but there is a certain amount oftweeners that support those businesses like pipeline guys in production guys and those are directly affected because there are growing companies that need that cash flow. If youre catholic is down 30 , you may be selling your aircraft. If your cash flow is down 30 you may be selling your aircraft. We are seeing a strong recovery and am worried that it might be derailed by the falling all prices all oil prices. It makes it cheaper to up your your aircraft but a lot of the worlds wealth is driven by oil so it remains to be seen whether supply and demand in the Aviation Market<\/a> begins to balance. G650ld it be like to will be sold . Many High Net Worth<\/a> individuals could possibly sell at the market continues to fall. Thank you so much for joining us. Todays big number is 3500 per square foot and thats what rents are like on upper fifth avenue here in new york. That makes it the most expensive Retail Real Estate<\/a> in the entire world. Give the credit or blame to Companies Like<\/a> microsoft who Just Announced<\/a> they will put a Flagship Store<\/a> on fifth avenue. The rents have risen 13 in the last year. Kong andovertook hong rents have fallen there almost seven percent two to the slowdown in china and thirdplace is he shone so these a in paris is the shops of elysees the champs in paris. There are many ways to order your pizza including curry flavored. You can go to starbucks to recharge your cell phone, much more on that ahead. And other is being waged between the north and the south. This time its with italian cuisine. Olive garden wants to add a new sample platter to its menu and is living it up to customers to decide between northern italy and southern italy. Vanessa longer covers the Food Industry<\/a> joins us with more. Olives another way that garden was trying to not just attach themselves to millenial s but getting into the customization movement. This is a great way for a brand to engage with their customers. You also vote online for whether want to be part of the olive garden team nor 13 south. In order to place your vote, you have to give them your email address. Its a great way for a marketer to stay in touch with their fans. Who is winning . So far team north is winning. Americas not ready for pepperoncins yet. Another way were olive garden is trying to reverse the sales declined to have seen . Right, olive garden samestore sales up and falling for the last five quarters. They try to ensure investors that things were ok by reporting 6 increase for september but their board was replaced. That was so crazy to hear. Idea of providing you with many varieties and we will allow you to customize weve got the pizza hut ceo on in the next hour where they are touting 2 billion ways to make your pizza. Are in thele that newsroom and everyone is like i dont want that, i just want plain. Is that how restaurants will attract people . I can think of maybe two pieces that i want to order. Exactly. Today, pizza hut unveiled at the menu. It has no ingredients and then a bunch of new crusts like curry flavored, pretzel crust, theyve got new sauces like honey. Irotka sriacha more variety they think means younger people look him into their stores and restaurants . This is all about trying bold new flavors and giving people more options. People want more choices in terms of how they order and what they order and how they are served. I think we will see this customization trend in fast food as they try to lure the millenial customer. I dont know these type of Marketing Tactics<\/a> are is affected with older consumers. I guess we are old here. Thank you so much. We are going to get a taste of the new pizza hut makeover. The president and newly named ceo will join us in the next hour. He will bring some pizza as well so we will get to try it. We will be back. Powermat yesterday named ceo and hines as its starbucks is rolling up rolling out its Wireless Charging<\/a> nationwide. Those doors will get bigger. Look at what communication and wireless has we call andhrough, reserve the internet wherever we are and whatever we want to do. You actually get to a point where you say do i have enough juice in my battery and have joy keep charge and keep going . Quandariesve these of people plugging in their phone so we are on the verge of solving the next big problem of going mobile by allowing people to wirelessly charge wherever a resource and they charge your device and i make sure they stay charged. And they can do it so simply and easily and wirelessly. Exactly, no Court Surcharges<\/a> needed no cords or charges needed. Innovation ist one of the frustrations i think of the investors at powermat where they previously felt this company had a big mark potential and generating very little revenue. It seems like it was not able to grow to that next level. How are you going to take powermat to the next level . Thats a good observation. Startups go to these various phases of inventing something and changing directions and changing course. Its never a Straight Line<\/a> which makes it fun. Created aey have great platform with providing the charging technology and making sure the powermat alliance becomes the standard in charging. Now its time to take it to the next level so its not an accessory light. An accessory play. At has to be ubiquitous across different locations. Charging has to be something that is associated so is integrated . Integrated in the handset and you put your handset down. Thats the future of charging we are getting close to this. But then you connect these charging spots to a charging network and you have users on that network. Think about would you could do with these users being on the network. You can do customer retention programs. For example, starbucks has a great opportunity for starbucks and powermat collectively by gathering a 10 loyalty programs. You a free donut because its the fifth time in the shop. These things matter because they create customer intimacy. Starbuckstioned the partnership and paramount has a partnership with General Motors<\/a> and other Major Companies<\/a>. Are you looking at extending to other companies and what would they be . Amazed since, i am i am talking to the powermat folks i walk through airports and there is a need for Wireless Charging<\/a> everywhere. People look for plugins in the airport. Airports are a natural place to go because people have to wait and may want to communicate because they want to talk to loved ones at home or talk business and they run out of juice. Maybe putting them in airports . Yes, airport lounges and talk to Airport Operators<\/a> and help them advertise on this network. They get a commission on every transaction that happens in the airport. So many opportunities and i think part of what i have to do is stay focused and not go to thin and not make a mark anywhere. We will select where we go. Having run blackberry and your partnerships and relationship with wireless carriers, are you going to part number with wireless carriers with powermat and leverage some of those relationships . Yes, wireless carriers are Natural Partners<\/a> and the whole wireless is missed communication with charging is a natural partner but not the only ones. Starbucks is a for example where we can go. Change can have different venues in different locations. Thats where you go and you can do this in partnership with carriers and you can do, and programs together and, in sponsoring programs. I think it is a very fruitful and Beneficial Partnership<\/a> with carriers. That was newly appointed eins. Mat ceo thorsten h Bloomberg Television<\/a> is on the markets and equity futures are still lower but not down too much by the Housing Starts<\/a> numbers coming and under economist estimates, down around three percent for october. Again 30n the markets minutes. Netflix reverses course is bill cosby special weather streaming service parted ways with the canadian. With the comedian. Johanne take on u. S. Will get jo hendrix take on u. S. Regulators and airbags pretty you are watching in the loop, on Bloomberg Television<\/a>, streaming on your phone, your tablet, and bloomberg. Com. The dow have0 and started the day at record highs and Government Data<\/a> shows Housing Starts<\/a> dropped 2. 8 of october after a big surge in the prior month and the data comes as the fed prepares to release her minutes on this octobers policy meeting. Senator married landrieu and other Senate Supporters<\/a> of the Keystone Pipeline<\/a> capture of last night by just one vote. 41 senate voted 59 to against the controversial project. Mary landrieu hopes a vote in favor would boost her campaign for reelection next months runoff. She spoke after the vote. , it makes sense for jobs here jobs in canada, jobs in mexico and it makes sense for us to stand against the tyrants of this world. President obama may unveil his executive order on immigration as soon as tomorrow. Is of the provisions undocumented immigrants his children were born in the u. S. Would not be supported. Activists are getting ready for demonstrations over the shooting of a black teenager in ferguson, missouri. There were weeks of protest after a white Police Officer<\/a> shot the teenager in august. Any day now, grand jury will decide whether the Police Officer<\/a> is indicted and governor jay nixon has declared a state of emergency and activated the national guard. Im not for parent for war. Im preparing for peace. Im preparing for order and peace. Peaceal here is to have and maintain peace and to work as we have over the last hundred days. The white house says president obama has been in touch with civil rights leaders urging them to keep supporters calm. Shares of target are up more than three percent in the premarket as they posted thirdquarter earnings that beat estimates. U. S. Sales grew faster than expected and targets moneylosing expansion in canada showing signs of some improvement. Where under 30 months away from the start of trade and lets cant you down to the open with withop 10 headlines today pimm fox and mia saini. Lets start with number 10. Something else happen in washington yesterday in the senate they failed to pass a bill that overhauls the National Security<\/a> Agency Program<\/a> that conducts the bulk collection of americas stolen data and other records. Pushingvalley has been for the bill to go through and they say they have lost business because of this surveillance program. It just died. It did, i was going to let thatpause to sink in. Keystone xl took six years and the president has formed a commission to put together proposals in order to overhaul the Data Collection<\/a> thats been going on for years. What is there to know . The oval office has been bug since the time of kennedy. There have been recording devices in the white house forever. What does this mean for the country . It leaves the country more susceptible to problems we see overseas like in isis. Exacts bill can at the wrong time came at the exact wrong time and nowhere are various lawmakers impressionder the after reading a report from mi5 and they were talking about using facebook and using twitter, these are the current day tools of terror organizations around the world. They are doing sophisticated video and Multimedia Broadcasting<\/a> and we are worried about the nsa collecting phone data . That is a domestic issue. Isnielsen which will begin measuring viewership of Online Video Services<\/a> for the first time if ms. Netflix which means netflix could reveal numbers they have cap so private. Maybe they could trade the data with the nsa. It to thean sell advertisers. The contentfits creators as well as the actors who will have more room in terms of negotiating deals and people want to know their influence and want to have the influence measured. Hastings, that reed he does not take advertisers and is this inscription only business. Why should he reveal the numbers . They are available for advertisers. Its an intellectual property owned by the shareholders. You are benefiting from the content creators and they are providing the content for your platform. Contractual agreement between you and the content creator. You can share with the content creator. His programs have been very influential. Where watching those programs. En wants to stay relevant in an age where no one watches appointment of viewing television. Nielsen is desperate to be the relevant. Speaking about relevance, we have more on netflix. After some pressure, they decided yet today they will not go ahead with the bill cosby special. They reversed course saying that we are postponing the launch of the new standup comedy special. I have to say, what took them so long . We talked about this yesterday and said maybe netflix will do the right thing but what about nbc . They have commissioned a pilot program. Even if they pull the plug, they still have to pay bill cosby. This will be something they will have to address and hopefully they do the right thing as well. Theoes this bring up statute of limitations on the stupid things and stupid things and terrible things that people do in their lives . It is decadesold. I completely agree. These are decadesold allegations. Of rape and sexual assault. Bill cosby did not help his case on that npr interview. He couldve had a chance to expand what happened and he stayed silent. I think that also accelerated some of the degradation on his brand. These are not issues exclusive to the United States<\/a>. The bbc has been going to the same kind of reversal. Is there a statute of limitations . Number seven is spotify not letting taylor swift get them down. They announced last increase its workforce by about 500 as it improves software and expands into new countries. I think spotify stepping in to get headlines because they never give you a timeframe. They are tying days they are trying to get back at taylor swift and saying they will grow. We have no idea when they will do this. Are you a taylor swift fan . Im not. You can admit it. No . Beyonce. Made these headlines and suddenly everyone was saying taylor swift against a streaming service and will they be taken down by taylor swift . Does she own the Music Industry<\/a> . Sayhey are growing and they they dont need her. She has her own problems. Number six is takata facing a caronwide recall as major manufacturers have work with them for many years that it would be difficult if not impossible to move to alternative suppliers. Matt miller told us earlier saying the same thing. There may be no alternative to these airbags made by takata so what do you do . Creates 39 of airbags that these automobile players have. They have an intimate relationship and supply chain is so intact that if you remove takata all these Major Companies<\/a> would hurt. Also people are getting their cars checked immediately. Go and get that airbag checked. You do not want this to happen to you. How many consumers know about this . How do you find out about these recalls . Its a fair question. Think about the ignition switch situation at gm and how can feinberg had to set the deadline. You would think people that would would know the claims are being filed a good chunk of the country does not know that. Coming up, we go back to the l. A. Autoshow. Heinrich joins us. We will be back we continue to count down to the opening bell and we are now halfway through. Number five is the return of a legend, ladies and gentlemen, start your engines that was the sound and melody of fords allnew shelby mustang than 500roducing more horsepower and the muscle car made its debut at the l. A. Autoshow. For more on whats under the hood, matt miller is in l. A. With joe hinrichs. Take it away. Not just a v8 but thats a flat plane crank so an interesting motor and i want to talk to joe about that. Takatato ask about because that was a bombshell yesterday. Even the idea that manufacturers would only recall cars in regions where is humid is almost laughable. What you think about this airbag issue . Taking care of customers is our top priority so you we are going to evaluate everything with all of our data and we will cooperate. Remember, there is no information coming out about this and want to make sure we all do the right thing by our customers. In the boardroom and say this suppliers not working out for us and we need to go to somebody else, is there anyone who can supply you with the amount of airbags you need . There are other suppliers but as an industry, we will look at the overall capacity and make sure we do the right thing. Taking care of the customers who have bought vehicles already will be the top priority. We need to understand what is going on with the products to make sure we dont have other issues. Lets get back to the flat plane crank. Many people dont understand this but an easy way to put it ri uses. S what ferra it changes the performance of the engine and the feel of the engine. Inside with the cranks going on, the 180 degrees versus nine degrees, its true to the we want of mustang and to take you back to some of the glory days of mustang. The 5. 2 made a lot of sense it sounds incredible. Ford whyked people at dont they have something to slot in against corvette . Does this do that . We think it stands on its own. The derivative products and other products have stood out for our enthusiasts and mustang lovers. They are on their own. Mustang has its own following and stands on its own but we like the performance it will bring. People driving compared to other vehicles come i think they will be enthused. We saw october sales figures for europe yesterday. You have an improving situation there. Do you forecast it will come back sooner than maybe we would have expected . Its starting to look better. Its Getting Better<\/a> but we are not seeing it improve at the rate we saw the u. S. Come back out of the recession. It will be a long haul still. There is conflicting data command europe but we are glad to see ourselves improving and our channel mixes improving. We dont think it will be a nice vshaped come back out of europe. It will be a longer haul. Are in the meetings all the time, the japanese recession caught everyone by surprise, is the asian situation you rooting as well . We see strong growth in china as well. It slowing down but its healthy. We are watching Southeast Asia<\/a> and india is improving. There is a mixed bag but china is strong and indias improving and the rest of the economys, look at africa and the middle east, still improvements to come. Thanks so much for spending time with us. Thank you so much. Our countdown to the opening bell continues next. Welcome back. Lets bring you the most important stories you need to know before the bell. Are fox and mia saini joining may. Lets continue with number four and starbucks offering a way for you to recharge your cell phone. It will roll out powermat wireless chargers. It will roll out powermat wireless chargers. Thesestill have situations where people plug in their tablet so we are on the verge of solving the next big problem going mobile by allowing people to wirelessly charge wherever they have a venue or where they are located are waiting. They just charge their device and we make sure they stay charged. If it works, thats a lifesaver. I am a buyer. Will they make the stores they gird . They are always crowded. Will they make the stores bigger . You can have a separate line just for you. Doesnt he look familiar . Wasnt he the guy who ran blackberry . Why didnt he do this at blackberry of this was such a great idea . I agree. He ran the company into the ground. He did not run it into the ground. He kind of left the ship when it was sinking. It was already on its way. This could be a promotion. Number three as western union. It might be the next target of activist investors. That has a vulnerable board and eight lagging stock price, pretty much valued at no more than when it was spun off by first data. We dont want to give any activist investors ideas. This is where they get their ideas. This has been picked up on before. There was a Research Report<\/a> that said the entire board is up for reelection early next year. This means its easier to get rid of the entire board rather than having to wait for individuals to jump off. Now activist has mentioned this. No activist has mentioned this. The first one of the holders who has his eye on this is warren buffett. Brand name,knowable business, in the United States<\/a> will it be viable longer as it competes with apple pay and other mobile Payment Options<\/a> . Perhaps i am the activist investor. Number two is target out with better than estimated thirdquarter earnings. Expandedw faster than destin expected and theres passionate to canada is better than expected. It seems like Brian Cornell<\/a> is the ceo that has been able to do something at target that others have not. It has been a slow decline for quite some time. It appears his strategy seems to be working for now. Is just the economy tide lifts all boats. We got the report from walmart last week so maybe the economy is doing a little better. Maybe because gas is down, maybe that is responsible for having more money in peoples pockets. That is a longterm strategy. That is not a longterm strategy, that is just for the quarter. Are creating an online strategy that works for consumers. I buy groceries at target. Apparently, groceries dont work at target. Way, an interesting to statistic on retail, rental space for stores on fifth avenue is now more than in hong kong. The opening bell is next. Welcome back to in the loop. The number one story, we may finally get the longawaited raise, five years into the economic recovery, economists are seeing some signs that wages are picking up. This is relevant because the fed releases their minutes later today and we want to know when the fed will see this Wage Inflation<\/a> enough for them to raise Interest Rates<\/a>. We might finally see that. I dont think we will see that anytime soon. Wages are increasing on Industries Like<\/a> energy and oil. I dont want you negotiating for me. Is it possible when they do the surveys of wages that employers are saying we have to pay you more because our costs are going up and we still have to keep you employed but the cost of health care and insurance and various taxes come all those things are going up and they will not catch her salary. Perhaps. In places like texas where they have more students looking for jobs, you can pay them more. No doubt the jobs market is getting tighter and tighter and is howber of unemployed they measure wages. Its gotten smaller. Is good news for the economy printed job market is getting tighter. The markets are just about to open in the u. S. But i want to cross over to london where we have a special guest. We have the founder of the hedge fund verrazano capital, one of the the european Star Fund Managers<\/a> and focuses specifically on european stocks. I know you revealed one of your positions just a moment ago. Talk to us about mario draghi. We have a comment from him yesterday. When he said yesterday about monetary policy. The conventional measures might inhale the purchase of a variety of assets. I know you are looking at the eurozone. You see that mario draghi has gained more and more credibility. I think what hes had a couple of days ago is a step in the right direction. About qe and the possibility of qe in europe. One hisi had statement from yesterday is a step in the right direction. At the same time, he can do everything best cant do everything. You had an interesting angle where you had the executive board member for the ecb saying the central bank could theoretically buy things like sovereign debt, gold and etfs. Gold is interesting. We saw cold increased to the most in some two weeks time. Do you think about these unconventional purchases when they start to think about gold . I think anything mario draghi can do to reassure the market that he has every means at his disposal to increase confidence in the equity markets in europe is a step in the right direction. Im in equities specialist. I see the impact those statements have on the European Equity<\/a> market. It seems very positive for the last few days now. They have been one of the worst faces of investment this year until the comments from mario draghi. If you could give up one idea, what is the most beaten up stock or company you want to get people interested in . What is your one best investment idea right now . I have quite a few. The one i focused on today is back core the Number One Hotel<\/a> company in the world. Growth opportunities in emerging markets, 65 of their growth coming from new rooms. This is the academy of european stock you want to own. A mix of new management coming in with a real purpose to release the earnings power of the company. That will come with Pricing Power<\/a> and volume growth. ,ike many European Companies<\/a> cor has not had the benefit of performing well because they are in europe. Who is the owner . With driving this ship . About new ceo is coming that came in about a year ago. He comes from the private equity business. If you thinks he can make more r thenmanaging acco staying at one of the best private equity firms the world, that is a great little confidence for shareholders. Great vote of confidence for shareholders. I want to bring it back to the nice states. The United States<\/a>. How that isat conducting monetary policy, exiting qe, may be raising Interest Rates<\/a> next year, how does that play into our focus your focus and where you are investing . That is having an impact on the European Space<\/a> in terms of currency. Which is rather new for us here in europe. Softer euro, weaker euro it was trading at 139 last summer. We are now at 125. I could provide a very useful tailwind for the european economy and the european earnings. They are already coming quite strong. We just had Quarterly Earnings<\/a> for q3. The strongest quarter since q1 of 2011. That can only be a positive for european corporates. Have to imagine you are looking into equities that are going to benefit most from the u. S. Resurgence just like the u. S. Guys here are looking for equities that have less exposure overseas. Absolutely. Whereas u. S. Managers will look at more domestic stocks, there is a clear focus for us on some areas of the market with exposure to the dollar. That would include the big pharma names. 60 exposure to the u. S. Dollar, one of the best performing sectors. Thank you so much for joining us. Chief Investment Officer<\/a> and founder of verrazano capital. Coming up, how do you like your pizza . Plane. All of, veggies, thin crust. There are million ways to order a pizza, including honey ss did funny crested honey crusted. We will be back. I wish we had it smell of vision right now so you can smell this pizza that is next to me. Pizza hut serving up serious change. Rolling up what they call the Biggest Campaign<\/a> in its 56 year history. Will have more menu offerings than ever with customized toppings, crusts, sauces and drizzles. A new logo, new uniform and new pizza hut pizza box. The move comes after two years of disappointing sales while rivals like dominoes and papa johns have grown the numbers. We are joined by the president and incoming ceo of pizza hut. Takes over officially in february. Have brought. Ou these are the new pete says. There are over 2 billion combinations. That is the skinny luau. That is less than 250 calories a slice. This is the cherry pepper bombshell featuring our new fresh spinach and peruvian cherry peppers with balsamic drizzle on top. Here, we have the oldfashioned meat for all. We have meatballs on our pizza now. Like to throw in all the meat they can on their pizza. You guys have over 2 billion ways to eat your pizza. I went around the newsroom asking people what they want in most people are like i want pepperoni, plane, veggies. By offering this much, are you getting away from your core . This is everything you is always loved about pizza, plus a lot more. We have not taken anything off the menu. Now you have the option to flavor up the crust just a bit. And some toasted cheddar or honey psoriasis off honeys sriracha sauce. There is something for everybody here. Our core customers, theres nothing they are losing. This is about bringing more flavors and ingredients to our menu. If most of your people are ordering pepperoni or plane, does this add on to much cost . Will this be a good return on investment . It will drive our sales. We are engineered it to be costeffective. Does not work unless our franchisees are making more money at the unit level. How much marketing did you do to figure out what people have wanted . We have spent a year researching these ingredients. So much talk has been made into grabbing millenials these fast food and fast casual places. Is this just your boldfaced 20yearoldst more into a restaurant . They are into exterminating with flavor. They are into experimenting with flavor. Just like nike with the id program where you can customize your shoes or pepsi with the machines. Customization, more flavors. What about technology . The dominoes and ceo made a lot about how they are using technology. Using the mobile app. How are you going to compete on that front . We feel great about the technology side. We were the first one to process and Internet Order<\/a> for pizza. When was that . Over 20 years ago. We are the first retail transaction online. Of course it would be pizza. We have seen Digital Online<\/a> and mobile users increasing their usage of technology to access our brand. Havee last few months, we seen that climbing and climbing. We are now over 40 of our transactions for delivery and carry out through those channels. What about delivering pizzas by drone . It becomes a serious concept, you know that pizza hut will be at the forefront. You hear about that, right . There is testing going on, right . Great to see you. Thank you so much. President and incoming ceo of pizza hut. Here is a look at the top tech stories. Tech companies are boosting their efforts to keep hackers and governments from snooping. Pp has added encryption. Apple and google have taken similar steps. Tmobile taking more steps to attract new customers and keep old ones. Offering a free android tablet to existing customers who sign up for a 10 a month data plan. Looks like another big Holiday Season<\/a> for ecommerce. Rise 15 ending will during the Holiday Shopping<\/a> series. Catch the latest in tech and media every weekday at 1 00 and 6 00 on bloomberg west. Lets talk retailers. The new way they are trying to reach customers. Stephanie ruhle joins us now. I know you cant keep your hands off. I just saw the pizza. Im talking target and all the other big retailers out there. Trying to rebrand. Trying to not just capture more customers, a different demographic. Wellknown guy who started with a wine business who went to become this multimedia megastar. He judged the miss America Pageant<\/a> this year. Theill be speaking to founder of a Company Called<\/a> the story. The entire idea is to partner retail, traditional brands with media. A new way of advertising. Figuring out how to go massmarket while encompassing the desire factor. Get into a target or walmart or jcpenney, its not just about the product. You have to figure out the desire factor. Desire with gary v. Ok. Im glad i came. Who would not want meatball, onion, tomato . Thats what i came for. Im taking it. Great to see you. Thank you for having me. Goodbye. Ceo. See you. Much more ahead. Massiveeping its stimulus intact. Why the country is still feeling somewhat optimistic. For the global outlook. Vladimir putin says the motive of the u. S. Is crystal clear. Accusing russia of backing ukrainian rebels and sending troops and tanks into the region. Here is putins response. The u. S. Does not want to humiliate us. And uset to subdue us us to solve their problems. No one has ever managed to do that to russia and no one ever will. Russias foreign minister says the u. S. And European Union<\/a> the bank keeping its record Stimulus Program<\/a> unchanged. The decision came a day after the Prime Minister<\/a> said he would second second lan planned that sales tax hike. Saudi arabia has widened its security zone. They have deployed troops along the northern frontier. Saudi arabia, part of the Coalition Fighting<\/a> islamic state. That does it for today. Tomorrow, heading to morocco. Speaking to Business Leaders<\/a> and innovators from all over the world. They are on a mission to help develop the next generation of entrepreneurs. They will join us live tomorrow at 8 00, right here on in the loop. Past are coming up on 56 the hour. Bloomberg television is on the markets. Lets look at stocks 30 minutes into the session. We have a bit of a pullback. The dow and s p falling from records where they closed yesterday. We did have housing charts coming in below what analyst estimated analysts estimated. Something investors are waiting on, the minutes of the federal reserves last meeting. Lets look at currencies. We want to look at the british pound. The bank of england out with minutes today. The pound is up for the first day in six after those minutes showed concern among some policy makers. Yen,ve been watching the which is at a sevenyear low versus the dollar. To sort through them, im joined by rachel evans who covers the market for us. The bank of japan on one hand. Lets start with the bank of japan, which was out with comments today. Talk me through what they said. The bank of japan maintained its record stimulus today. Consensus within the bank of japan seems to be growing as to the appropriate pace. We had a better vote in favor of that decision today. We also had comments from the governor regarding inflation and risk that inflation could that is a negative sign with regards to outlook on the economy. We had some remarks that seems to imply the government needs to take more responsibility for its fiscal position. Interesting in light of the fact that earlier this week we had the Prime Minister<\/a> come out and postpone the plan to increase sales tax. Week,you look over the whether its his delayed the sales tax, the bank of japan comments, what has been the most important in terms of affect on the yen . The election seems to have the most impact. On monday, we had a gdp figures that showed that japan had slipped back into a recession. Are we had the primary nist coming out and announcing this earlier election on tuesday that will strengthen his mandate to take action to address the fact that growth had not been where they wanted to see. The election seems to be a encompassing. What stimulus could we see at this point . Is unlikelyof japan to announce further stimulus before august. Government tohis look at further fiscal stimulus measures. We dont know what the details of that are at the moment. That could be coming through once the election is over. All of this seems to spell more trouble for the yen. What are the targets they are looking at . 145 for somehit analysts. Who knows . Rachel evans talking us through the yen action this week. Thank you so much. We are on the market again in 30 minutes. Market makers is next. Live from bloomberg headquarters in new york, this is Market Makers<\/a> with Erik Schatzker<\/a> and stephanie ruhle. A war is about to break out over immigration. President obama may issue an executive order as soon as tomorrow. 5 million undocumented immigrants could be protected from deportation. Direct sale diamond study dynasty. We will be speaking with the companys chairman. Ismortgage bond investing booming. 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