Good morning. You are watching Market Makers on Bloomberg Television. The top fathers day gift is no longer a weed wacker. Eric is just a guy to do that interview. All my goodness. It is time for the news feed. The botox maker has rejected the takeover. Undervaluesion bid the company. The market value is about 49 metlife will spend as much as 1 billion on the buyback. Systemically important institution. Donald sterling has changed his mind once again about the los angeles clippers. He will not support the sale of the team to steve ballmer. He will pursue a one billion dollar antitrust case against the nba. This is very mysterious. His lawyer told us earlier this week last week when you were in puerto rico that Donald Sterling and the nba had come to terms and everything was fine. A longer told you something that turned out not to be true . That is so weird. Barrow is mary meeting with shareholders. The annual meeting kicked off just about 30 minutes ago in detroit. She took questions from reporters, including our own matt miller who joins us from detroit. Did she say anything new . She is on a very tight leash as to what she can say. She has been asked every question in the book. One thing she did say that i found interesting was she had received a lot of emails. She released the results of the lucas report looking into these switch problems. She asked employees in a town hall meeting to email her directly or contact her directly if she noticed they noticed an issue. She received hundreds of emails. Them related to actual problems of the company. She did say she has been looking far and wide for other problems like this problem they had with the cobalt and the saturn ion. When you look at this issue, it was a unique series of mistakes over a long. Of time. We find an issue going across, there is nothing like this and we have been digging pretty deep rooted we will continue to do it. We will address those issues. Key there being unique. This problem is not something that is going to pop up again. Shareholders will be worried about that. They will worry about money they may have lost because of the recalls in the value of their shares. Gm shares have gone up five percent since the recalls were first announced. Shares of ford have gone up 15 . That is a big difference. Thank you for giving us the latest with the gm meeting in detroit. Cast asidener just the largest magazine publisher. They made their trading debut yesterday. Of their sights on the new media. In talks to buy a stake in vice. That would make the Company Worth 3 billion. Jon erlichman is in los angeles with more. You know vice well. Your conversation with the founder not long ago suggested it might be worth many multiples of 3 billion. What is the story here . Shane smith is the founder of the company. He is a very confident guy. Is worth as company lot. There is a relationship between vice and time warner. Watchers knowdia vice because they have a show on hbo. They didnt follow the traditional media model and go after advertising dollars. They thought that was a losing bet. They took bran the sponsorship money and use that to go out and do gung ho journalism. That caught on with the next generation of news junkies. This gave them a library of interesting content they could sell to all sorts of tv players around the globe. There is a lot of discussion on whether this is just about time warner buying a stake or maybe them giving more of their real estate over to vice. In aoke about the interest more traditional cable company. He talked about a big valuation for the company best on revenue they are generating. If we hit our numbers this year and project out to next ber, are worth would exponential. Billion ofoing 1 top line at a 50 margin in an everincreasing scale, that would be worth as twitter i would think. You are close to generating 1 billion in revenue . Plan in the next 12 to 18 months. A journalist and a businessman. What does this mean for cnn . Is this what news looks like, vice . Stodgyrns its nose up to cnn. Greathink that is a point. That makes a slightly awkward twist to the story of vice. They have been taking a few punches at cnn over the last month or year. Soon they might be partners with time warner in a bigger way. They are watching the world change. They are interested in driving ratings in getting people to tune in to the various cable outlets at the own. They own. I was thinking jeff beauteous for a moment. Separated at birth. Vice gets a valuation of 3 billion or 30 billion, shane smith is going to be the winner. Also win . Pert murdoch fox invest inury vice . That sounds about right. I think one thing that will still have to see is if a deal fox this results in both and time warner stain as investors in this business. There are two different paths for vice to go. They could do an ipo someday. He wouldnt mind staying independent. You could have different Media Investors in there. They already have tom preston of like,. Viacom. With fox and time warners investors in the business, having them has to be helpful to vice. Settingbout shep up shop around the world. They can take this stuff as we mentioned, all of this content they are creating, and selling it to pay tv providers around the globe. This is a very interesting set of negotiations read thank you very much, jon erlichman. What is this going to be valued at . Course coast corresponded. Go daddy is set to hit the public market. They sell web hosting products and domain names. They are best known for their super bowl ads. We want to bring on leslie picker. Company thata private equity guys liked. This is a 17yearold public that is just now is going public. Domain name should be a 1 billion revenue. We are seeing an interesting time for this company to go public. The executive chairman is stepping down. Is taking a step away from the company. This is the founder. He is controversial. Upset done things that peta with elephant hunting. He is the man behind the controversy all sexy ads during the super bowl. I know we were watching some of them this morning. They are pretty racy ads. They have given them some Brand Recognition and put some significant market share. This is the appropriate time to go public because of that market share and growth. Could a cynic look at this and say go daddy and its backers just want to go public because we are living. Doney hasnt go daddy public up until now . Has it ever made a profit question mark . It is still losing 200 million. Those racy ads, 154 million spent on marketing last year. You have got to spend a lot of money. They will pay that debt. Those are their three main sponsors who own a stake in the country. They will also do a one time payment of 25 million to the sponsors. That and thatis one time payment. That is not really a growth strategy. You cant possibly say you are going to pay back your debtors. What are they going to do with the money . That is vague. Are you kidding me . I want to go public. I am going to pay back people ill money to. Say that they may acquire, mentoring technologies. They are vague in the prospectus about what those are. Hasnt the Business Model been weakened over the last two years by the opening up of domains. It is not just about that com or. Net or. Edu. There is an effort to make even more of domains. That there is an open software agreement. They dont own the patents on how to get out those domain names. This is something that has come under pressure in terms of pricing for them. They have had to diversify their strategy. The have to diversify revenue stream. Selling email addresses. That is expensive. Doesnt this smell like everyone is doing ipos and let me go public. I say no go daddy. Thank you for giving us the latest on the go daddy deal. Coming up, carla carl icahn goes upscale. Songwriters say internet Record Companies are getting off too easy. They want to help singers and songwriters. This is Market Makers on bloomberg tv. We are streaming live on amazon fire and apple tv. Welcome back to Market Makers. I am Stephanie Ruhle with Erik Schatzker. Carl icahn revealed a stake and said he wants the retailer to merge with Dollar General store. Adopted a poison pill defense. We want to ring in julie hyman who has been following this. He knows where to get it. There is one year now. That is how long this lasts. There can be no hostile takeover. No one shareholder can garner stakes of more than 10 . You cant build up a more sizable stake than what he has right now. He can put pressure on the board to make changes. Broker ay to foster or friendly deal between Family Dollar and its competitors. What about Family Dollar . Where do they go from here . They have talked about making changes at the company. If you are a dollar store, where can you go . They are not literally a dollar store. There are some stores that are literally dollar stools and it just denotes cheap basically. Higher than are those at walmart and Dollar General. They have talked about cutting the prices more. They are also closing 370 underperforming stores. The company has embarked on a plan to make some changes and improve the business. The stock went up 13 yesterday. People dont bid up the stock because they expected to improve margins by that much. All he has done is put this company and play. Unsuccessfully. What you mean . On owned a big chunk of this as well. Pushed familyhey dollar to make some kind of deal. It didnt happen then. Just because carl icahn is making this bush does not mean it will happen. Dollar general has said it is not interested. This somewhat family control. Interested, your best strategy is to say you are not interested. We should take that for what its worth. I think ericn, doesnt have a deep enough understanding. We need to do a deep investigative search of these dollar stores. Dont you think . I can think of nothing else better to do this weekend. Thank you for giving us the latest. Technology isury being governed by rules drawn up in the 1940s. Welcome back. Beyonce, justin timberlake, katy perry. They have made royalties from Digital Music services. What about the songwriters and publishers . They say theyre cut is coming up short. Congress and the Justice Department are getting involved. I want to bring in phil mattingly. Why does washington care about publishers . Can get their hands on anything, there is a good chance they will do it. When it comes to this issue right now, every lawmaker is an agreement in a bipartisan way. The way laws are written right now is out of date. Nothing keeps up with it. Nothing shows this is much as how publishers work with laces like pandora. These guys are under an agreement from 1941. Long before pandora was even close to existence. They dont feel like they can fairly negotiate the rate. Lawmakers are looking at this. So is the Justice Department. Is anything going to come of this or we just have more conversation . What are they asking for . They want to be able to come and have a fair negotiation with pandora. Thesea says because of laws, that helps them. It helps them line up their negotiations. If pandora and these thirdparty groups dont agree, they go to court and the Court Decides what is fair. The court almost always rules with pandora. Bmi is the lead above them. They are testifying today. This is long outdated and needs to be revised. What is the distinction between the songwriter and the music publisher . That is a good question. Is thekey thing publishers and the songwriters are against the labels and the artist. Can get up to 80 of the royalties when it comes to streaming music. When it comes to the publishers in the songwriters, they are represented by Third Party Groups who feel they are not getting a fair cut. What is interesting this entire industry is governed by rules the bottom place decades ago. Ist you see right now everybody acknowledging that what is in place now is a failure and everybody acknowledging there is no way to go at this with someone a some type of fullscale over call. Overall. I do know that anybody has the answer to that. The argumenta make they are responsible for more musical consumption . Can they say be glad distribution is wider . I dont think they will say sit down and shut up. They Say Something akin to that. Because of us more people are listening to music. You are getting royalties because of us. Fights has its own across the board. I dont know that pandora has the answer. I think they feel that they are in a better position than they are in the right. Phil, give me your top three favorite artists. So much pressure. Time is up. Well be back more in two minutes. Welcome back. I am Stephanie Ruhle with Erik Schatzker. Stayathome mothers and working fathers has changed. Female breadwinners are on the rise. Is that a cause of concern . She is the founder of the court in group. 10 rules for breadwinning women. Lets get our head around it. There are more women than ever making more money in the house. Is Society Ready for that . There is nothing wrong with it. We want to celebrate this. The complexity arises when she enters a male female relationship. There is a higher chance for divorce and infidelity. Society is not ready for this. Pugh did a survey last year. Most people believe it is the mans responsibility to be equipped and ready. They dont have the same expectations for women. This raises a lot of complexity when youre in a marriage. Men feel emasculated. Women can become resentful. There is a lot of emotional turmoil. Can super ambitious women who also want to have families really make it to the top . Ceos have a part, spouse that doesnt work. If they have a working husband, is it possible . They have a great babysitter. They have a housekeeper. Top position as a ceo and be the mom . It is very difficult. It has nothing to do with the facts and more to do with aspirations. Most women dont want to sign up for the power game. They dont want to report two aboard. It is a lousy job. Lousy job at doing it and being a mom . Maybe they want to have that giant job. When you have to get on at plane year, ane 35 weeks he lot of women dont want to do that. More of a more chance to she will opt out of the workforce if she feels it is a threat to her relationship. They are not making it work at home. Institutions are very greedy. The work laces not conducive to men and women to have a work life balance. Site, ise day care on a win for everyone. It is not just a womens issue. It is a benefit for companies when families can thrive in the home place. If they can make it work with their kids. They can be more productive at work. How are men responding to this reality . There is more infidelity. Is that on both sides . Have a stayathome husband. I am the breadwinner. He helps out no doubt. I cant wait to fool around. I have been propositioned on live television. Arent faithful are alpha males. Now super successful women are super alpha females. There has to be balance. Forhat is a recipe does it for disaster whether they are working or not. There is only so much time in the day. You have to make compromises. Who is going to be that person that is ok with taking a step back from career . Alternately somebody has to. If people have kids and housekeepers and nannies and all the plates are spinning, when one of those plates falls and somebody has to address it, who is it going to be . Thet is always the ceo of household which is always the mom. A lot of people want to be somebody else. The best news for all of the working moms are starting their own businesses. They are not going for the corporate ladder. They want to be in charge. I worked for myself. I could manage my schedule and my life and have a family and be getting up every morning and putting on a suit at 7 00 in the morning. It cant happen for me. Wehow many years away are from meeting a successful woman and her stayathome husband . We from years away are being ok with that . When is that going to change . It is not going to change so much. The truth is it is an ego issue. Guys want to be the breadwinner. They want to be the caveman. The wife was the caveman. If the wife becomes the caveman then she is always apologizing for the husband. It is a terrible thing. It is harder for the guys than it is for the woman. It is tougher on the guys. Why . 10,000 trying to reverse years of acculturation. It is difficult. This is just one of those areas. It doesnt change so quickly. Be aich is tougher, to woman and a mans world or a man and womans world . That is a really good question. Tougher to be a woman. Life is more challenging for women. Just a little detail of having kids. Ones still have to be the to carry the child for nine months. We have this instinct to want to be at the forefront of mother duties. Wethe same time, even if have all of the doors open for it, we stilln have have this as well. That is an extra layer that cannot be taken lightly. I had my first child at 46. I had no responsibilities. I was doing whatever i wanted to do. Child, it was an interesting lesson and again change. Rivalry, i wanted to be the best boss at work and the best mom and home. I couldnt do both at 100 and 50 . I sold my business. When you are an aggressive woman and you want to get out of life everything you want, youve got to make those compromises much more so than the men have to do it. And that is the truth. Was the biggest take away since you wrote the book . Women identify themselves as feminists dont want to hear that there is a book like this in 2014. They get angry and i can understand that. I can say please read the book first. The most successful families where she makes more are the ones who can do away with gender role stereotypes where they are in it as a team. They recognize that they have insecurities and ego and all of that plays a role. You have to be able to communicate. Our families in urban centers . Even suburban families . All over the country. Thank you so much. What, this is you some of the best advice a cool 2 million women. You should read the book. Thank you both so much. We will be back here and a couple of minutes on Market Makers errico we have got the secret for fathers day. It is no longer about weed whackers and lawnmowers. Dad wants to look hot. What do bill clinton and Harvey Weinstein have in common . They have all been named father of the year. It is not a scientific p