Youre watching Market Makers on Bloomberg Television. Down pouring in new york. Shes in a sunny locale but working hard. Time for the news feed top of the stories around the world. The nations job situation continuing to improve. Government report showing new unemployment claims at their lowest levels in seven years. Fell to 310,000 last week. Amazon is planning to introduce a smart phone later this month. According to a person familiar with the plan. It would ramp up if rivalry with apple. The company tweeted about an event it will hold in seattle on june 18. A picture of its thin black device offering a hint of what the phone might look like. Military jet slammed into a california neighborhood yesterday afternoon. Amazingly no one was killed or injured in the crash. The pilot ejected before the plane crashed into a residential area in southern california. Two homes were destroyed and a third was heavily damaged. General motors c. E. O. Mary barra held a town hall meeting this morning to address the companys recall scandal. She revealed the findings of an investigation of the mistakes g. M. Made over the past decade and 15 people have been fired. For more we bring in matt miller. What were the most important things we heard from mary barra this morning . There were the facts, one you just mentioned, the 15 people maybe not fired but no longer with the company. She wouldnt confirm in the q and a section after when our tim higgins asked her if those employees were fired, if they were retired, if they even received buyout packages. She said that was a personal issue between the employees and the companies. She gave us a few other facts as well. Saying that five people were still with the company but eceived disciplinary measures. Said that ken finebergs fund hes going to administer the results of that. Will start to roll out in the next couple weeks. Well start to find out whats happening as far as victim compensation. It may be more than just the 13 deaths that g. M. Has linked specifically to the ignition problem. She and mark royce both made very clear as well as dan, who sat there, taking questions from reporters, that they will want to compensate anybody that ken fineberg feels necessary to compensate. Any families that had deaths due to this problem or any people that were seriously injured. I think the most important part we got out of this town hall meeting, though, were not the facts from the lucas report. Well all be reading that and pulling out the facts for ourselves that we find most interesting, most important, but the most important thing was the cultural ask that mary barra had of all of her employees. Remember it was an internal event. It was a town hall for the company. She wants whistle blowers to come out from now on. She wants a change in the way the company operates. Not watching your own back or the back of your supervisor, but watching out for the company as a whole. Listen to what she had to say about that. If you are aware of a potential problem affecting safety or quality and you dont speak up, youre part of the problem. And that is not acceptable. If you see a problem that you dont think you dont believe its being handled properly, elevate it to your supervisor. If you still dont believe its being handled properly, contact me directly. I want an environment at g. M. Where the customer is at the center of every action and decision we make. After all, we exist to serve their needs not ours. So its interesting. Previously General Motors employee who went to a supervisor with a problem and then was turned down would never gone directly to the c. E. O. No matter what level he or she was working in. But now it seems that thats what shes asking. And she seems very sincere in that. Its a real cultural shift that i think the entire industry, some of those companies in the industry have gone through, but the entire industry has brought that on and is pulling g. M. They have no choice but to come along. Is this the end . What does this do for the congressional and d. O. J. Investigation . I think this is definitely not the end. In some ways its the beginning because they are finally going to get the answers to the questions they put to mary barra a couple months ago. And didnt yet then. So theyll be getting information. Theyll be obviously moving on a lot of that information. And we are going to see a lot more come out. Remember, next week is General Motors shareholders meeting. Next tuesday well be seeing what the investors in the Company Think or what those who want to speak publicly think and how they are going to vote about General Motors leadership. It will be interesting. Its definitely ongoing and its not really a solid turning point. Its just another piece in a story thats going to be a long one. Matt, thank you very much. Sprint and t mobile are zeroing in on a merge. They have talked about joining for years and now a deal could finally be on the table as soon as july. The companies had made headway on price agreement, capital structure, and termination fees. We bring in walter. Welcome for the merger that might happen at some point. I have heard anything from 10 to 50 goes through. Alex, your reporting . Its hard to say. Thats just a better question for walt. Its anyones guess. At this stage of the game sprint has spent months trying to make a case toward regulators privately to pitch their idea these two companies longterm have an untenable future. The only way they can compete with at t and verizon is by putting them together. At this point we know that deutscha telecom and softbank, owns 80 of frank, deutscha tell owns 2 3 of t mobile. Those two companies have an agreement on the main nngs points. Price will be 40 a share. Capital structure roughly 50 50. And termination fee which will probably end up being closer to 1 billion which is what many masa wants. But the deal wont be out until july or august and thats because these Companies Continue to Work Together to put a model for regulators to say, hey, heres what we need to show them in order to convince them that this deal should be approved. Consensus view on the street to answer that question is very low chances, less than 20 . The reality is that its an uphill battle, but they are trying to put together the case. They start in january, maybe there was setback then. They are doing things like showing how that might be a competitor for comcast on wired broadband. Showing how they need scale in order to invest more in their wireless network. Talking about building out in rural. They are building the case. Remember, d. O. J. Came out very strongly against it. F. C. C. Is facing pressure with a lot of transactions. Net neutrality debate. A lot of things on the debate. Low probability. I dont understand quite honestly if this deal does get announced why montason wants to spend 1 billion. The billion is a potential breakup. If you announce the deal, regulators turn it down, you have an 80 chance of failing, you have thrown away a billion bucks. His view is probably not 80 chance of failing. Do you think hes having conversations that would make him think perhaps he doesnt have an 80 chance of failing . Maybe the alternative for him not very good for sprint. He bought this company. Theyve got issues as far as how quickly they are rolling out their network. Lets keep in mind, its a 30 billion transaction. 1 billion fee relative to a 30 billion transaction is not crazy. You look at at t and t mobile, buying the same company, breakup fee 4 billion, 5 billion. Its smaller. It would be better if it was nothing. I think your point is good. It is a reasonable question to ask. Is he operating with a delusional force field around him where he lives in a world where he thinks the deal should go through he yet the evidence in front of him suggests it wont . That said, i think he may have a little bit of help from the other two telecom deals that have come before him. Its debatable whether or not these really are going to help him. You could take make a case if youre going to put together at t, directv, timewarner cable, if you look at the Telecom World including those companies and how big they are going to get and influential, t mobile and sprint, these are piddling little companies compared to these. If you are going to accept the big ones, why reject the small one . Quickly before we run out of time, was there anything that happened recently that persuaded these companies that worth continuing these negotiations and agreeing on terms in principle . I think getting over the hump as far as who is running the company. You had dan on here not long ago. I think he conceded maybe hes not the guy to run the Company Going forward. If air t mobile standpoint, when at t was coming in, it was very disruptive. If they come to an agreement that t mobile can be the guys running it, they could be the uncarrier on steroids, it makes it more pat lattable for Deutsch Telecom to try and go in frovent regulators. That was a key factor i think in moving forward. Guys, thanks so much. Appreciate your break down on that. Alex and walt. When we come back mere on Market Makers, president Obama Meeting with World Leaders at the g7 summit. Well have the latest from brussels. And forget about luxury box seats. Well show you how the high ultrahigh end way some v. I. P. s might be watching this years stup stanley cup. Its not on my couch. This is Market Makers and Bloomberg Television streaming on your phone, tablet, and bloomberg. Com. We are streaming the amazon fire tv and apple tv. Brussels, president obama is meeting with g7 leaders and the crisis in ukraine is taking the spotlight. Hans nicholls is in brussels with the details. President obama just wrapped up a press conference with the british prime minister, David Cameron. Did the president say anything about talking to Vladimir Putin at this point . He clearly left out good morning. President obama clearly left the door opened for a meeting, a sit down with Vladimir Putin. He said it is entirely appropriate, it is, for mr. Putin to be attending the event in normandy. What you see from the u. S. Administration is an approach to try to speak with one voice from the european side and u. S. Side on actions, on talking to mr. Putin. Concerted strategy. Yes, tomorrow putin does have meetings planned with cameron, with merkel, and the idea to have those three heads of state and convince and urge putin to start working with president elect in the ukraine and have some sort of wind down, some sort of deescalation of the situation. Alix, there are a lot of deadlines. At the end of the month the e. U. Meets again. You are seeing the leaders set up deadlines for potential escalation and sanctions. By sanctions i mean sectorial saxes, industries not individuals. We did saw in that press conference wrap up between David Cameron and president obama, anything significant ties between the two countries when it comes to sanctions . We heard a lot of russian countries have very much more hands off approach at this point. President obama just had this great line there at the end, yes secretarytorial sanctions will hurt the economy in europe. Theres been a broad recognition from the u. S. Side for three months. Any sort of serious sanctions on the russians will hurt a flagging economy here in europe. At the same time obama said it will hurt russia more. Theres been a great deal of effort and intensity spent on making sure that the u. S. And the European Union speak with a unified voice. Last night the statement coming out of the g7 meeting on ukraine was unified but it was pretty weak. It said additional sanctions if, and it didnt get specific on what the triggers would be. Today youre hearing a few more specifics. Youre hearing things from cameron. Youre hearing things from merkel. The question is can they get the entire European Union aligned and on the same page . Thanks so much. Hans nicholls in brussels following the g7 for us. Obama will travel to paris where hell meet the french president. Ryan, obama just said it would be improper for him to intervene in the socalled b. M. P. Affair in which the d. O. J. Wants to slap a 10 billion fine we understand on the french bank. Doesnt that create a problem . Olon saidous yesterday, that matter is on his agenda for inner tonight. Yeah. Thats very clear the french intend to discuss it. The president has made it very clear. And they heard secretary kerry just the other day say that while he maybe shouldnt say this in the public domain, the u. S. Is prepared to find some kind of fair resolution and they are confident they can with their French Partners work, as he put it, through this. I think we can expect the french president to tell president obama the same things hes been saying over the last couple of months. This is unfair, that its disproportionate. To really focus on this issue first of all of it not really being within the u. S. Jurisdiction. At least as far as the french are concerned. These were dollar transactions as far as the u. S. Is concerned. That makes them very much part of its jurisdiction. But beyond that, this would be ad for the french economy. Bnps ability to land money. Possibly for the integrity of the Financial System for all of europe. As the french finance minister said, they have no intention of defending any one bank, but they are interested in defending the economy. And the french president made it very clear, the french people arent happy with the situation around b. N. P. , hes going to talk about it whether president obama wants to or not tonight at dinner. Thank you very much. That is ryan. Hes in paris awaiting the arrival of president obama who will dine tonight with the french president. Next, the hottest ticket in hockey has a whole new edge. Find out how elite superfans plan on watching the stanley cup. Alix steele today. Back in the day scoring a luxury box seat for a big game was all it took to impress a client. No longer, we live in the era of the tickets to the game are part of it. The v. I. P. Treatment available for this years stanley cup. Robert has been cure rating five star sports packages for 20 years. The one recounting is a trip to london olympics. Transportation, lodging, and tickets to gold medal games. Price tag 350,000 which includes the 18 commission that his company pocketed. What kind of access can tuckman get me for this years stanley cup finals . I have my wish list. Hang out with some of the champs. And of course play. The estimate, 15,000 to 20,000 per person. Its been 20 years since the rangers made the finals and i want more. Can i go into the lobblinger room . Very possible. Can i ride on the zamboni . Can i get mark messy to skate with my kids . You can get him to skate with your kids and give them shooting tips. Is it going to happen right before the game . Probably not before the stanley cup. If you want to do it the next day or prior, absolutely. Tuckman stumbled upon this business two years out of college. While selling ads for a sports magazine. As incentive he would often include tickets for a luxury suite. He realized these extras were what mattered. The easy part zpwegget tickets. Designing the rest of the experience is the value added. Even with the best access, it turns out some things are off limits. Can i hitch a ride with lundquist to the game . Probably. Thats difficult. He has his routine and im sure theres no amount of money in the world that hes going to change that. Ultimate goal is to win the stanley cup. Scarlett, im so impressed with how much care you put into that package. Not one image of the l. A. Kings. We didnt need to go into that. All about the ragers right now. Rangers right now. The experience of watching a game at home is so much better these days its hard to turn your eyes away from the h. D. And 3d. Thats why a lot of these teams and league need to get in bed with the quote package organizers. They need to provide an experience. Partly also because its so much easier now with stub hub and the like to get tickets on the secondary market. Youre not prisoner to the broker who could back in the day kind of charge you whatever he wanted. 4,000 or something for Madison Square garden monday and tuesday . It is more expensive for the games because its been 20 years since the rangers went to the cup. I was asking robert when is the best time to buy tickets if you have to go to m. S. G. . He says wait until the day of the game. Maybe a couple hours beforehand. The price also come down. The people who buy up as soon as they announce the finals and who is in the finals are the superfans who just cant wait. So they snap up that ticket. Thats why youre not working. Thats right. Whats the kick back for the teams . He gets 18 commission. He has relationships that he leverages with the teams with former players, with current players. To get some of the obviously grass cant be involved. Everybody who is providing a service of sorts will get paid something at the end of the day. They help each other out. He has access to other events as well. The masters golf tournament, u. S. Open. You can put that all together and its part of the relationship building. Wonder what the most expensive stuff hes ever deliffed . The olympics . Olympics. I thought it was more. He was saying after a while it got hard to come up apparently in alixs world 350 grand is a deal. Swipe it on the card. You and three members of your family. Me and the cat. Thanks. Terrific stuff. Scarlett. The e. C. B. Makes an historic move. Well talk about it after this break. Good morning once again, folks. You are watching Market Makers. Im alix steele. The e. C. B. Entering unchartered territory this morning announcing today it is reducing Interest Rates and installing a negative rate on Bank Deposits for the first time in its history. For more perspective on its historic move, we bring in a Portfolio Manager of oppenhimer funds and bloombergs market reporter jonathan. There were so many headlines out this morning. Break me down what happened about an hour ago. Lets just say we went into this expectations were up there. Mario exceeded expectations. We knew there would be great cuts, he did that. But it was about the measures they announced in the pres