That was a press conference with the malaysian Prime Minister. You are watching market maker. Lets recap his comments. It was a little bit difficult to hear. We have people on site in malaysia. Here is what we know. The Prime Minister citing new data showing that flight mh370 and is in the southern indian ocean. It is unclear exactly what happened to the flight ear the implication appears to be that 0 crash in the indian ocean. Survivors oralk of wreckage. He did point out they will hold a News Conference tomorrow with further details. This News Conference was a very simple declaration that light mh370 and in the southern indian ocean. New satellite data concluded that it flew toward the southern corridor. The last known position was in the middle of the indian ocean. As you probably have an known, there is not much in the southern indian ocean. Who knows what happened. There have been reports possibly of a wooden pallet. Satellite imagery provided by chinese and other countries suggest there have been sightings of something floating in the indian ocean. The Prime Minister trying to put debate over which plane flew. Definitely ting definitively that it ended in the southern ocean. The plane is lost. Southern indian ocean. It is a story we will continue to monitor. We know malaysias government will host another News Conference with further developments. Meantime, we need to bring you up to speed on new developments in the battle over herbalife. Icons agreed to give car carl icahn three more representatives on the board to two m a closer ste step two owning more. It is never certain what carl ns intentions are. What do we know about the three people he wants to put on the board . To figuree is trying out exactly what the endgame will be for carl icahn. These three Board Members all come from icahn enterprises. One is an independent director. He is beating up his positions on this board. Kman hases as activ been able to get this investigation. On both sides the stakes have been raised. It looks like we will be in for quite a battle to come. Were reporting that after a year of losses on the short bet against herbalife, though acumen may finally be bill ackman may finally be near breakeven. Yes, a lot of that coming in ftc saysweek as the they are asking some formal questions of the company. You have seen a considerable amount of scrambling as people try to figure out what is going to happen at the end of this investigation. You could have some sort of finding along the lines of what kman has asked for. It could be a slap on the wrist. Perhaps they come back and there is no action at all. Be aboutrtain are we this. This was back in 2012. It is hard to believe so much time has transpired since that original thabet. Presumably this cost him something. At what point of ever will we be able to know where he stands. The picture is deathly much more cloudy now from when it was a simple short bet. Difficults to make it. Started buying the stock back in may 1 2012. This is while didnt i did learn had asked some questions on the conference David Einhorn asked some questions on the conference. It was noted december of the same year that he decided to act as his own catalyst to try to bring his obligations to light. As he has sure to the company to about a billion dollars. Later he did add some options. Our best guess right now is that he is very close to breakeven. Thank you very much for the update. That is Duane Stanford in atlanta. Europeident obama is in for a summit on nuclear security. The real issue is the crisis in ukraine. Hans nichols is in the dutch city. What do we expect to hear come out of this meeting . Obama wants to have is a unified response and potentially additional sanctions. Earlier when he arrived here he met with the dutch Prime Minister. Listen to what the president said in terms of the possibility of tightening the screws even more on the russian economy. I thought we had that sound mind for you. I apologize. Obama is looking for allies. Hes going to be listening to his european counterparts. Is going to be taking their temperature to see just how far torementally he can go having additional sanctions. What we have seen so far is a stepbystep approach. He went from targeting individuals to industries. It could be Something Like the banking industry. That could be a potential Pressure Point for some of the billionaires that support president clinton. T putin. Dent why is there no talk of going after billionaires themselves. To make the oligarchs feel some kind of pain and put some pressure on Vladimir Putin. Why not target them individually as opposed to some Vague Industries in the name . That is kind of what happens. You have a list of sanctions of visa restrictions on a handful of individuals who have been responsible for the moving into crimea. We have a few of his wealthiest supporters who have these as tol as government functions have these. It is taking the effect on the economy. Assia is staring at recession. Even from russian banks to get had several quarters of contractions. The other side of that is that putins Approval Rating has tripled spirit as long as he has the support largely of the people he comes into question if you think russian is a democracy or an oligarchy. If you think it is an oligarchy, you may have the ability to pressure him. If it is a democracy, you have two for the pressure on it. Hans nichols joining us. Thank you so much. We will with you in coming days. We will have more on the crisis in ukraine. We will speak to a russian expert who says Vladimir Putin is like darth vader and president obama is playing the role of when he the crew. What happens when punk culture makes online journalism . We are streaming on your smart, tablet and bloomberg. Com less than 20 minutes ago the malaysian Prime Minister out a press conference providing us with new information on flight mh370. He says new data provided by a satellite company, and these calculations suggest the last in then of 370 was southern indian ocean, remote location. This is the rough whereabouts of where the plane might have gone down. No discussion during this press conference of the possibility of survivors, even wreckage. Just this new information culled that the plane took a southern route and ended somewhere in the end of the indian ocean. Dont know whether there was foul play art was accidental. We know the malaysian government will host another News Conference tomorrow morning with update on the latest developments. In the meantime, the flight mh370 ended in the southern indian ocean. Precious little to go on. You have to feel with the families of the victims. In the meantime, we are asking what is Vladimir Putins next move . That is what World Leaders are trying to figure out. What would it take to stop him if they knew . At we want to know. That is what our next guest will talk to us about. He is a renowned criminologists. I am dying to know what you think Vladimir Putin is going to do next. Tell us. Exactl, i wish i knew the answer to that question. There certainly going to be something. Theres no way he went about this exercise to get crimea and basically use ukraine. Lose ukraine. He will be fighting hard to ensure that the government in ki ev will be there in the future and will be relatively more sympathetic to moscow than what he sees right now. The biggest concern for everybody is looking at Eastern Ukraine and southern ukraine. They are relatively more russian but not as russian as crimea. He is going to be using all the bag to make itgb more unstable. To try to provoke the ukrainians to do something that would be used as the provocation than to respond. It is still going to be a very dangerous situation. Havell do not think we mr. N the measures for putin to change the calculation. Were never going to change the calculation about crimea. The key is to change the calculation if he is giving to act in eastern or southern ukraine. Take forould it president obama and other western leaders to do to be able to change the calculation . Have hitk we should him upside the head with tougher economic sanctions a long time ago. What the president did announce on thursday was better. It has been a little bit too little too late. To be moree have got leaning forward on providing military assistance and support for Ukrainian Military forces. We have got to be careful about this. We do not want to encourage Ukrainian Military forces to do anything rash that would then be interpreted by Vladimir Putin as a reason to come in. Forwardto be more leaning so they will have a better chance of defending themselves and the cost will be greater. Deterrence is still very important. Important fore mr. Obama to work with the european allies on strengthening the capacity of the ukraine government economically and militarily perhaps rather than the sanctions issued. Colleague hans made an important point that they were heading toward a recession. Emily before the excised ukraine. Putin has made the calculation that im not going to take the measures to reform the russian economy. Im going to change the conversation. Im going to emphasize rallies. Im going to emphasize trying to that will make me popular with the russian people. That is my play for now. Why is it other president s before him, george w. Bush have almost copulated and been unable to figure out Vladimir Putin. What do they not understand about mr. Putin . It has been very hard to accept that he does not really believe, that he wants to change the results of the cold war. I think it has been very difficult for americans or europeans in general to understand thing credible psychological trauma that russian people in particular experienced with the collapse of the soviet union. It literally from one day you went from being a superpower to the next day you are a recipient of humanitarian aid. So powerfulthing and Russian National identity, being powerful and respect his. He hit that hard. He has looked for opportunities where on the global stage she can resist what he sometimes u. S. The excesses of the unilateral power. More specifically in the case of ukraine or georgia six years ago, he can rewrite what he sees to be some of the wrongs from the cold war. He does not have a grand strategy about reestablishing the soviet union. He is very opportunistic. He is very its technically. Effective technically. This guy is not going to go out with a emperor like mr. Gorbachev and the ussr. Hes going to go out with a bank. That is why the deterrent factor so important right now. His psychology is very different. Position to a influence russia as a deterrent . Would it be china . They have been oddly silent. It isis a comic aid in a complicated position. They are involved in several territorial disputes themselves right now. Of the there is a pieec chinese leaders was admiring him for the brazen move he has taken in addressing territorial issues. I do not think we can expect the putinse to talk mr. Down. The chinese will think it is great for the russians and americans to be fighting, there must be some benefit we can derive. Thank you for joining us. Lets switch gears. It is a new formula for spring training. If they build it, surely the Major League Teams will come. That is coming up next on Market Makers. It is time for bloomberg to go on the markets. We begin with a big mover. It is usually influencing the nasdaq the most. Ubshis is a report from , so muchiphone6 ballyhooed because the possibility of a larger screen will be released in august or september. This is in line with the timeline of apples previous project releases. It would not be a shocker or surprise. The idea here is that new products drive the stock price. They might be out and august or september. They are streaming live and ondemand television as well. Splashed over to the front of the wall street journal getting attention as well. Did we mention what is going on in her life . The stock is up 4. 7 . Short, carl icahn long. He is adding three of his nominees to the board under an agreement that this will give him five of 13. It wield much influence. Context is key. They began an investigation into the business practices. He has been pushing for any kind of investigation. He is raising the stakes one more time. They appear to have found the magic formula how to attract the young male viewers advertisers love. We will have that story. Lions gate is hounding on nextrgent to be the hunger games. Live from bloomberg headquarters in new york, this is Market Makers with Erik Schatzker and stephanie ruhle. I am in for stephanie this week. Welcome back. Thank you. Folks, get the flu shot. He learned the hard way. Are a businessman and the city offers to build you a stateoftheart factory to lemonade all of your taxes and pay for the upkeep and maintenance of your building. Sound good to be true . Not if your business is in major league baseball. That is what they are doing first bring training these days. Tax payerdoling out supported subsidy after subsidy. Is in fort myers florida today having a look at the economics of spring training. Art instate of the spring Training Facilities is the 72 Million Dollar jet blue stadium where the red sox train in florida where we were earlier this morning. What is even more amazing it was was built just 20 years after the city lord the red sox here by building them another part. The stadium today sits empty. The county pays more than 1 million a year to keep it in pristine condition just in case another team wants to move in. A lasting years that a lot of rates. Been possibly to bring this up to the level. To build a ability new facility and keep the red sox here for an additional 30 years. So far no takers. The Washington Nationals to come. They wanted 36 nine dollars in renovation. The county had to refuse. Its been 69 million. Hammond stadium where we are now. The county paid for everything and gets almost nothing in return in terms of revenues. Same deal as the red sox get. They are getting 46 million in upgrades to this facility. Taxpayers are going to have to pay almost 500 million in the bonds. The trick is most of the taxpayers come from outofstate. These are visitor tax dollars. They are being spent on these facilities. We are enhancing facilities with tourism dollars to increase and mature future tourism through that same activity. Baseball spring training generates 47 Million Dollars of economic activity, which is what officials here say an economist are skeptical, that 1 of the10 of overall gdp. Most people come here for the beaches, not for baseball. 200 79,000 people attended baseball games out of 5 million visitors to fort myers. Economists will say it is an awful lot of money to spend for a small amount of stimulus. Debated this argument time and again whether public tax dollars contributed to things like stadiums and Stadium Parking lots. Ever pay off. How skeptical are economists . In thee is not anyone academic world who has done a study of this to agree that you should subsidize ports teams. But you are doing is taking money from one area and spending on sports as people who would spend money on other things just spend that money on the sports activity. You do not create any new money. The argument here in florida is it rings people out of state. That is new money. Raise to pay for these facilities cannot be used for something else. Economists still do not see tremendous value in it. Thank you so much. Michael mckee joining us from florida. Might just be catching a few rays in the process. We all need after the long winter. Why an 80 something media mobile loves a company that targets young males. What Rupert Murdoch sees in vice media. Type from some top media headlines. Grubhub is one step closer to going public. They have set a price range to the the ipo. They will be valued at one point 7 billion. Among the investors a Goldman Sachs private equity fund. Apple and comcast are in talks about teaming up for a streaming Television Service of wording to the wall street journal. Op would use the apple sett box and you can bypass congestion on the internet. Nokiasin the sale of cell phone division until microsoft. Asian regulators are still reviewing the deal. Microsoft agreed to buy it for 7. 5 billion dollars. It is hoping to challenge apple and samsungs dominance of the smartphone market. Next storyect of our is bearded, tattooed, checking if the media world. He runs a vice media, a Company GivingTraditional Television a run for its money. It is growing its way to a whopping 10 figure valuation. Jon erlichman caught up wishing smith. When he took over the boys of montreal in 1994, nobody thought he would hit his stride and one of the fastestgrowing media countries in the world 20 years later. Look at you with your knowledge. He is the guy that started this business 20 years ago in montreal as a magazine. Now it has become this very influential video player. To watch the growth you have to look at where it is located around the world. We caught up with him here in venice. They have 36 bureaus around the country. The latest effort is vice news, meant to give them a bigger seat at the table of the stories around the world. This is where we want to start some of the conversation. We just launched. We are still in beta. Out for twoy been weeks. It has arty been a success with our coverage of crimea and the rise in venezuela. Is it driving a lot of traffic for us but it is getting kudos by Mainstream Media who have been d