That the damage is not significant and is no threat to the reactor. News is just now being disclosed. The power plant is not in an area where ukrainian troops are fighting prorussian rebels. Opinion polls show that Prime MinisterBenjamin Netanyahu is the favorite in an election set for march. He put a new vote in motion by firing to cabinet members yet been fighting with. At issue, the budget and a plan to enshrine israels jewish status in law. In washington, get ready for battle over faulty airbags on capitol hill. The corporation has rejected a demand by u. S. Regulators for a nationwide recall, and for at least four deaths. Has recalled cause only in states with high humidity, blamed for the malfunction a congressional hearing is set for today, later this morning. Thinksader says takata it can get away with defying the government. Thinks the Auto Safety Agency of the department of transportation is a patsy, that will not throw the full force of , which against takata has been sitting on the airbag effects for years now. City regulators say they are safety regulators say they are planning their next move. 17,880,closing at giving credit to big oil. Oil prices stabilized after the big fall last week. ,ets get to the news on takata on a collision course with regulators. A company executive. You explain to a house panel line takata will have to expand to a house panel why takata is ignoring demands for a nationwide recall of the airbags leading to five debts. Peter cook has more. Defy thisven able to call by the government to recall the airbags . Is a highlyty, it unusual move but we will see if takata changes its tune over the course of the hearing, but they are on a collision course with regulators. A midnight deadline last night on a recall of airbags that have been linked to as many as five debts around the world including four in the United States. So far takata has responded affirmatively. The mandatory government recall. Ould take several months David Friedman adds in a sharesnt that takata responsibility for keeping drivers safe and anything short of a National Recall does not live up to that response ability. David freeman will be testifying in front of the subcommittee and so will a takata executive, one of the top executives for safety. He will reiterate, going to the written testimony already submitted to the committee, that the Company Believes that the focus should be on High Committee areas of the country. That is where they believe the problem is most likely to occur with exploding airbags and he will say specifically that Public Safety is best served with identified areas of humanity humidity. Companyment from the has been all along that if you have a National Recall you could die for replacement kits to communities that dont need them and that could put more americans at risk. Are they taking other steps to respond . They are taking other steps to respond, but it remains to be seen whether it will be satisfactory. We heard from the ceo of the company yesterday in a statement in which she again expressed regret for the fatalities and deaths that have taken place and says that the company will show a new commitment to Public Safety, and to show that he announced several steps. They include not one but three seven former senators of transportation guiding the company through the crisis. The former transportation secretary under president george h a b bush, sam skinner, will lead an independent audit. You also have the comedy stepping up to say that it is going to continue to the company stepping up to say it is going to good to need to replace kits including using the matters using competitors equipment. It will do more testing of airbags in the United States to get a better fix on where the problems are. Betty, i can assure you that not only nhtsa but members of congress on this panel in both parties will be very tough on in lightday especially of this decision to thumb their nose at the federal government and ignore the calls for recalls. I imagine it will get very heated and emotional on the hill. Automakers are also going to be testifying as well. What are we going to likely here . . The automakers had the airbags in their vehicles and they felt pressure from the national highway Traffic Safety and administration. Executives from at least three companies that had these airbags in their vehicles also testifying today. Interesting to see as to what extent they backed takata and to ask that they distance themselves from suppliers. So far there have been careful not to distance themselves too far. They continue to use takata airbags. Chief washington correspondent peter cook. Nine months ago, socgen a della took the reins at microsoft and set out a bold new strategy for the software giant. Hashe nadal area, microsoft adopted a cloudfirst focus. Today he will get a chance to address some of the issues, ranging from compensation to diversity at the company. Bloomberg west editoratlarge cory johnson has more on his report card scorecard, really. As he delivered enough value to investors essentially to keep them quiet . Keep them quiet, no. Iss is out with a Shareholder Meeting saying to look at what the company has done. In terms of the stock reaction to stewardship of the company, brief as it is, the stock is done quite well. Nasdaq, downto the about 14 . The stock has certainly done well in a rising market. But we are talking about a big pay package and that is one of the issues that shareholders will be looking at at this meeting today in washington. Outline for me what iss is concerned about. I think what theyre phenomenally concerned about is the struggle this company has had over the years and the allocation of cash. This has happened through buybacks, through dividends as well. When you are looking at a guy who has a chance to make 18 million the year, after making 11 million in the last year, that is a point of criticism. The incentives are in there, the sally, the 1. 2 million that you can compare that across the board. On one hand, compared to some of you like larry ellison, it is a pittance, compared to warren buffett. You can see the wide range of things. Is important this is part of the conversation we have in america about the rising gap between what the average worker makes and what the 1 makes good as we raise those numbers of ceos and make unimaginablybly, rich, it makes a difference between the places who support company technology, places like microsoft we are in puget sound and what struggling workers and housekeepers make. This is part of the big change in america, and i think that that is one of the things that goes into this consideration. , you are in the thick of it corey, in Silicon Valley. Silicon valley is right there in San Francisco, where people are really speaking about this whole income inequality and the whole issue of diversity. I understand that Jesse Jackson is going to be also attending this meeting, right . Yes, the reverend will be here as well, meeting with microsoft and amazon come asking for more opportunities for people of color, people who have been shutout, for women as well. He has been doing this across the world and Silicon Valley and we will have him on bloomberg west to talk about this. Jesse has been active for a long time with a lot of different kinds of companies. But this resonates in technology because there is this belief that technology doesnt just change people that changes the world and is part of our future. Thate notion of the fact the Booming Technology is standing apart from rising economies here in the u. S. , struggling economies in europe, although it is doing a little bit better than we thought betty, here is a little trivia. What city in america has the fastest rising rents of the last year . Ok, i would say right across the bay from Silicon Valley it is forcing changes that oakland is not accustomed to. Cory, you answer the question before i could even answer it yes. Sorry. This is why im a failure as a game show host. Wink martindale is safe as long as i am around. Thank you so much, cory johnson. This hour,shaking former treasury secretary Larry Summers and former Morgan Stanley ceo john mack what do they have in common . Gimmick tens of millions of dollars when lending club goes public next week. This is according to the financial times. Platform tonline match borrowers with lenders and is responsible for more than 6 billion in loans. On themmers and mack board and their shares and equity into this company. More on Silicon Valley we were just speaking about that with cory. They want more high skilled workers. Pimco. Oss final days at boy, were they adventurous. Breaking news on the jobs front. This is jobs week. Adp employment 2008000 jobs created in november, slightly below what economists had estimated, also a decline from last month. Olivia sterns at the breaking news desk has more. 2008000 jobs created for the month of november, according to adp. In march the seventh out of eight months we have seen private jobs gains by more than 200,000. It is a little bit shy of estimates. There were looking for 222 thousand jobs added. That hiring broadly is on pace and you should look at this as an indication that the labor market as slow down. Keep an eye out for other data points. At 10 00 a. M. We will get the isn nonmanufacturing index. That will be interesting to look for, a sign of whether or not factory activity has picked up. At 2 00 p. M. , a report of economic conditions. All of buildup to the friday jobs number, where we are expecting to see again of 220,000 jobs. Down the thank you so much, Olivia Sterns at the breaking news desk. House republicans accused the president of overreaching on the. Ssue of immigration he tries to halt deportations of some illegal immigrants. It comes at a delicate time for the Tech Industry as they launch a fresh push for visas, especially for high skilled workers stop the new congress will be republican and we are confident that the republicans want highly skilled Immigration Reform. There is a consensus that president obama says he wants it. The legislation passed to the democraticcontrolled senate. Steve jobs told president obama over five years ago that if you try this Immigration Reform to comprehensive, you will kill it. Five years later from the grave, steve jobs has proven correct. I want to bring in my guest guest hostr g this hour, was invested in comedies like Interest Companies like pinterest and stubhub. Great to be here again. We were playing some comments from gary shapiro of the Consumer Electronics association, who says, as you just heard, with the gop controlled congress, we will get a better chance. You agree . I think so. It is a practical and businessfocused issue to 40 of the fortune 500 companies were founded by immigrants or children of immigrants. You think of the immigration what immigrants bring to the u. S. America is still viewed around the world as the place to pursue your dreams. Our schools are not producing enough technical talent. If you think of the lack of engineers, not only in Silicon Valley and new york everywhere, we need the talent here. Ok, we have heard that on and on and on again. You have her you have set it and ive heard ceos in Silicon Valley say it and a group you have worked with has said it. All that is falling on deaf ears. It was hard to get traction on every other issue that people were trying to attach. It got caught up in congress. It is hard to get that traction. People are subverting the issues of general Immigration Reform versus skilled Immigration Reform and looking at it as the first step to a broader focus. The president has outlined i thought measures of orders that were favorable to the Tech Industry. The socalled supermodel visa, and anyone who wants to start a company and get funded gets a visa. Why has Silicon Valley not come out and been like, yay, we got what we wanted . It is a good first step. A lot of those elements of the start of visa that the president was nodding his head on three or four years ago the issue is can we get that through . A lot of the start of visas were sucked up in the first week that they were available. Just not enough. I think if the president is able to follow through on those issues it would be a great first step. Why didnt we see the leaders on immigration like Mark Zuckerberg come out . They were so surprisingly silent after obamas speech. Why didnt they speak out . Because it wasnt enough. Little, little too too late. Not good enough . Good first step, but disappointing first step in that people thought this was going to happen three or four years ago. Rick, stay with me. Guest host for this hour. Much more ahead. Sprints after your business and is slashing prices to get you to your current wireless carrier style . Member gangam. T has actually broken youtube 2. 1 billion viewers of psy. Will talk about how online stars are climbing the digital charts. God, this is so 2012. You are watching in the loop live on Bloomberg Television and streaming on mobile and bloomberg. Com. I am that you you. Sprin i am betty liu. Sprint is ratcheting up mobile wars. Seven is trying to end years of customer losses. Is of apples partners guided 3. 5 billion. It has doubled its valuation since the last round of financing. The Digital Payment startup was named as one of apples pay partners. Christies has named its first woman ceo. She is replacing stephen murphy. She has been chairman of christies and the French Company that owns the option house. We are just about 26 minutes after the hour. Bloomberg televisions on the markets. Equity futures point to a mixed open. You saw the private payrolls report. Below what economists estimated. Maybe a recent we are seeing tapering in Investor Sentiment after essentially rally after rally in the markets. We are on the markets again in 30 minutes. More musicians are standing together with taylor swift in her recent spat with spotify could we learned in my exclusive interview with a rock legend applauds her decision to pull the music from the streaming service. The model is changing and i dont think that the model we have at the moment is necessarily going to be there in five or 10 years. We need something a little more equitable for musicians. I think musicians need to be paid for their work. You have major money. Made your money. I have made my money and am welloff could but for young artists, building a career, the idea of making a living out of this business is tough and increasingly so. Whatever model is created needs to be equitable. I think the streaming model is a good one but we need to be paid. Sting joins a growing chorus of artists asking to be paid fairly for their work, including garth brooks, wyclef jean, and jason aldean, was also told his music from spotify. Joining us is the founder and ceo of omni vision entertainment, a studio that produces original Digital Music content and hires online stars on a daily basis. Staying with us is venture capitalist Rick Heitzmann, who has invested in lots of companies, including pinterest. Watching this interview with sting and hearing what he says about how artists need to be paid equitably, what is your reaction . I watched it yesterday with and thought that with all his money, if you could build a time machine and go back to that moment 13 years ago when napster was created, would you kill that guy or embrace him . Which he beat the crap out of him . Beenusic industry has playing catchup ever since. It is, as you discuss, harder every day for a musician to make money. Is it ever going to get equitable . They have got to diversify. There is one way to make money, which is to sell the audio, and there are 15 others, essential for every musician touring, merchandise, licensing. People are buying less music. Doesnt this just come back to with napster people said i dont want to pay for music, i dont want to pay that much for music. And idea was created 13 years ago that it is free it i used to go on a trade with the buddy and he said i dont do that. What taylor swift has done is maybe that again to stealing is not the best way to compensate the artist. Itit is not just music him is printed content, it is video content, almost every piece of information out there is cheaper and cheaper. Also brooks, the singer, chimed in on this, and i love his quote. He said in Rolling Stone magazine, the devil, youtube. People get millions and millions of views and they dont get squat. Songwriters are hurting. Well, garth is promoting, too. Youtube is far from the devil. Youtube is the main stage were so many people are discovering talent. But if an artist makes that the full focus of where they are going to make their money, they are not going to make squat. They will make 15 of what youtube makes and that speaks to how youtubes Gas Powered Games as a promotional platform. Power is as aest promotional platform. Right, but all that money is getting depressed. It is getting cheaper and cheaper. , muchtube shares a much higher percentage than any of the record labels or anyone had ever shared before. But it is just pennies instead of dollars. Im not willing to pay for music, you are not willing to pay for me sick i am. When you pay a little amount on spotify, there is not enough to go around. Artists have to adjust. Sting was making money in the old model, garth brooks was making m