Today, a somber day here in new york and across the country. We are marking 13 years since the attacks of september 11. The names of nearly 3000 people areed on that horrible day being read at what was known for years ago as ground zero. Four years ago as ground zero. The relief fund ended up donating more than 180 180 million to families of victims. Howard, welcome. When we think about people who have made such a commitment to the cause, your name is at the top. 13 years later, how do you keep this going . The key is to drive close to those families. I was Walking Around the firm this morning and i walked into a young man. George was his dad. A great guy. I see his son how old is he . In his young 20s. I was taking my son for his hest day of kindergarten and has changed. We keep the familys clothes and turn the state into something positive and something beautiful. Families close. How many of the families are still there . Just under 100 left. We had 960 in new york. We had secretaries without bosses and our Corporate Bond division. After december 2001, 150 people in new york. Now, just over a thousand around the world. We are bigger and stronger and growing. This is a bigger charity. Youre not just giving two causes associated with 9 11. Youre giving to her daughters fund, the scarlet fund. We are going to take a moment of silence in honor of those passengers on united flight 93 which crashed in the field in shanksville, pennsylvania. [no audio] a moment of silence for the victims of the passengers the passengers of united flight 93. Thanis has become more 9 11 charities. The first five years, we have promised if we could rebuild the company, we would give 25 of everything we made to the families. Ended up being far more than anyone expected. We tried to take care of a aster its a public funds now. It is big. Over 12aise hopefully million. We have lots of celebrities who tweet and help us and we try to raise as much money as we can. This labor day, i went down to the hospital where we saw guys who lost limbs in afghanistan and iraq. We take care of their families. Their moms and dads fly to their side. They stay there. They dont have the job that will pay them later, so we pay their mortgage for six months. Where do you think that comes from . I work on the floor of the Stock Exchange for a number of years and there is such a strong support for family. There was an incredible importance placed on family. Why do you think that is . People take for granted so many things in their lives. The take for granted the people next to the network. Next to them at work. Would they say i love the people i work with . If you took them all away, you would cry from now till the end of the year. These people are your family. And youly love them love your family and those are the things that are most important to you. Once you understand that, you rally around the menu help them. You rally around them and you help them. We have about 150 charities around the world that we take care of. Youmy employees today ask employees, you agree to make more money and all of them waved their pay . Think of all that youve built. What do you want your legacy to be . Thats a good question. That im a human being. That the events of september 11 allowed me to express that im a human being. That i care about people and humanity. Have you changed your goals . When you look at the Broader Market right now in the tough times that have been had, are you starting to say, you know what, im big enough. Its always good to be goldman sachs. That sounds nice. We are good at what we are good at. Bear stearns try to be someone else. Put them in a bad spot. Got exposed them and they killed in the process. We are kiev being who we are. Key at being who we are. We continue to just stay with what we are good at and be very good at it. How is it to be a finance company today opposed to the financial crisis . It is challenging. Challenge creates opportunity because its not the same for everybody. Youre in a fixed income market and they are buying all the pots. Now, they are announcing that they will buy less bonds. Lows. Lity is at historic these are tough markets to be successful. , he and time i go out she is saying there is no business to be done. Bgc in the real estate we made it w deeply profitable. Want to have a big, giant once you have a big, giant infrastructure, you can take the people who were successful there and bring them onto your infrastructure. It will be gigantically successful for us because we already have the infrastructure. You have the benefit of being in a real estate recovery. It does not look like volumes are picking up anything. Picking up any time soon. We will do extremely well with the business. When youre on your own, youre never going to get there. Maybe people will start trading. Headed over to her office later today. Thank you so much. If there is a hero since 9 11 who has done so much for the families, its you. A real honor. Thank you so much for joining us. This is the First Anniversary since the opening of the National September 11 a moral and museum. September 11 a moral and museum. Memorial and11 museum. What is the right history . We are a strong handful of people who tried to take away there were a strong handful of people who tried to take away your childs right to believe in what they want to believe and associate with whomever they want to associate with and be in charge of their own destiny. Whenorld came to our aid this cowardly act took place. Democracy has come out stronger because of this than it was going into it. This is a lesson we are going to have to keep relearning. If you dont remember history, you are doomed to repeat it. That is clearly true here. Terroristsorld have an easier route to go th an they did before because they can find out things and communicate and get information. The challenges of society are greater than theyve ever been. Our own Mike Bloomberg speaking on the 9 11 memorial and museum. President asking for help from the arab world to defeat islamic extremists. Radioshack needs a lifeline. Looking for more capital after sales keep plunging. President obama laid out an extensive u. S. Strategy to counter the rise of Islamic State last night. Now, he needs support from congress. Lets bring in peter cook. He is on capitol hill. We also have our white house correspondent, phil mattingly. Youve been talking to House Republicans there. How does it look . Meeting ofst at a House Republicans over in the capitol building. The general sense i get is that there is support in general for the president s strategy and his decision to go after the Islamic State. There is going to be an effort to change some aspects of his request, particularly with regard to training and equipping syrian rebels. He wants more oversight of that. There is not uniform support for this. I just heard from michele bachmann, strong words from the minnesota congresswoman, criticizing the president s proposal saying it does not go far enough. We are either in it to win or we are out. Suggesting she and others would support a much more comprehensive american involvement in dealing with isis. Even potentially boots on the ground. She is more of an outlier. The president s proposal. That is Michele Bachmanns thoughts. How important is congressional support . They Want Congress to be behind him. We without thereby in. Their buy in. Ve they do not believe they need congressional authorization to do anything when it comes to expanding the airstrikes. Or to move forward with the expansion in the military mission in general. They are under the impression that they have all the authorization they need. If they need some help from congress when it comes to funding, training and mobilization. When it comes to the actual military operations going on in iraq, they dont think they need congress on all. Would probablyhy beg to differ. He says lawmakers stand ready to work with the president. Is this a really bipartisan effort . This is an election season as well. The reality is that democrats and republicans dont want to cast a tough vote on anything in this moment in time. Support forartisan taking on the islamic threat and doing something beyond what the white house has done so far. There is more support for the active airstrikes in syria. The training of rebels is controversial. You have to pay for it as well. The president is going to get something from congress, but it may not be the full throated support that he was looking for initially. How much is this going to cost . Phil mentioned the authorization here for training those at syrian rebels. The original white house basel, 500 Million White House proposal, 500 million for fiscal year 15. , each day inn august, those airstrikes cost 7. 5 million. It is not cheap. This will not come cheap. They have money set aside for afghanistan. They hope to pull money from that as opposed to having to appropriate new money. What about president obamas legacy . His remaining time in office . Will it be spent as a war president . He is a wartime president. Theaw a complete shift in posture of this president when it comes to these issues. I was talking to people on his Campaign Staff in 2008. This is a speech he never wanted to give. He was of the world dedicated to pulling u. S. Forces out of. This is a longterm endeavor. Something that will likely go through his administration into the next administration. Thatident feeling shifted last night. It will be interesting to watch how a sitting war president going into new action in the middle east operates over the next few years. Thank you very much for that. Very interesting and we will continue to cover this developing story. When we return, one of matt millers favorite stores. Radioshack. Sales are down 20 . The quarterly loss is worse than expected. Radioshack needs more money. What do they need to do to turn it around . Radioshack is running out of time. The struggling Electronics Retailer is working with creditors to get more couple. More capital. Tell us how this capital will keep radioshack you have to buy more remotecontrolled cars. I buy a lot of remotecontrolled vehicles at radioshack. Thats why i think they should themselves the drone zone. That is the least of their problems. Please tell us about this capital injection. We dont know yet if its happening. Standard general may be teaming them to offer financing. Same firm that also infused capital into american apparel. It has a taste for these struggling retailers. What is it going to do for radioshack . I talked to the credit analyst about that very question. , if they getat more time, there is a possibility that they can have a turnaround strategy. However, with the new ceo, the turnaround strategy has been in place now for about a year and we have not seen any credible evidence that that turnaround strategy has worked. That leads me to believe that there is more here to be done and you need a lot more time to turn the ship around. You need a lot more runway in terms of liquidity. Money equals time for this retailer. Will that strategy even actually work . All of her atg isi he said nupathe and new signage, does that really change a retailer fundamentally . If you were going to create a retailer today, would you create a radioshack . No, but you also would not create a jcpenney. There is the question of, will you get a return on your investment . Even if the store does not up . Eed, will stock go will the stores survive is another question. There is a lot of doubt about that. Even if it gets this infusion of capital, if its still burning through cash, those comparable sales fell by 20 . Humming from that low of a base, yes, it does not take much confidence basis to increase things, but you have to keep people coming into the store. Do these kinds of investors actually care longterm about a real turnaround or do they simply want the stock to go up and then they get out . If youre looking for speaker wire or cell phone batteries most of the things it is selling are tied to phones. More than half of its sales are tied to phones. Most people are not buying their phones from radioshack. They are buying it from the Carrier Stores themselves. If you look at where people are buying stuff, this is about intentions. Radioshack come a 1. 1 of people plan to buy the next phones from radioshack. We will be back in just a few. But live from bloomberg headquarters in new york live from the overhead doors in new york, this is Market Makers with Erik Schatzker and 70 role. Welcome back. Im excited. Im excited, too. But you are excited for a different reason. You want to know who im talking about, Ben Silverman. Y . The cousin of a very exciting our coming up. One of the most romantic producers. He ran nbc for two years before leaving to partner with the one and only media mobile barry diller. He is here with us to share a preview of what hes got going on. Welcome. Great to have you here. Im so psyched to be here. What are you doing right now . Making programming across all different platforms. We are definitely a content first company. We are doing shows for nbc. We had a bear grill show on the you guysat hopefully watched. Deion sanders, ben stiller, some great guests. Ben stiller, in full survivor mode . Yes, jumping shirtless off of a large waterfall really good stuff. And when make programs for netflix and for yahoo and these new media platforms. They are investing in the best talent and content for these new platforms. Who do you want to make product for . Is it more interesting for you to be selling stuff to nbc or netflix echo or do you just care about the highest bidder . Terms of the value chain, the backend, the ownership for these producers, it still most valuable to have the hit on the broadcast channel. Part of that is because you can still sell off of the broadcast channel to other syndication. Its the holy grail of syndication. Law and order on nbc, now i can watch it on tnt, usa a show foru make hbo, you will not put it on netflix later. Exactly, because they are about exclusivity and closing the walls around their content. They are trying to buy out the content in perpetuity and not exploit the secondary windows and alternative channels. If you make a hit for nbc, you have the chance to sell it off of nbc to cable, to broadcast indication, all the way down the path. And you make a lot more episodes. And by the way, that is on the backend. Makes money up front as well. You have a sponsored driven sponsored driven model. Yes, we make more than traditional cable. But on the other side, netflix and hbo are spending a lot more on the production budget. Their investment is definitely on screen in big ticket you know, game of thrones probably season, youire know, one episode cost the entire season of bear grills. Just doing the math, it is twice the revenue against twice as many episodes. It is still a better model for the producer. I would rather be in netflixs shoes as the platform, though. Are you talking about putting bear grills in the game of thrones . No, no. Yeah, no. But in everything, we are talking about game of thrones and making a sitcom. Thrones. Ame of its a sitcom. But its not like him of thrones exactly. Is that like trying to recreate tech sex in the city after sex and the city . We love in hollywood making a great idea and then repackaging it into something worse. Are you working with Jason Bateman . We are. We have a relationship with them on a Little Company we build together called dumb dumb. That was their idea. Know comedy. We were making some advertisements for some different brand of the rig in the digital space. We also made the movie together called manson. It is through electives and it is a partnership and we are continuing to expand that relationship. We just developed a great piece of material with will arnett that he brought to us. We are loving expanding that relationship. Walked me through how you are partnering with advertisers. You are putting products into your programming . Constantly working with the Advertising Community around our content. Every time someone brings a tab, its an advertisement . He was not too fond of doing this, but i snuck a in there. We had a Good Partnership with subway. , wehows like bear grills have a lot of walmart products related to bears products in walmart. If you can go there and buy a gerber knife. Exactly, all of that. You can see the interconnection and they help to underwrite the cost in exchange. Or with College Humor, our web comedy platform, one of the best and funniest anywhere, we will actually do custom advertising with our Creative Team at College Humor for different brand who can then not only live on the site in terms of expressing their media, getting their messages out, but can have messages that are consistent with the College Humor audience from the College HumorCreative Team. All of these platforms seem amazing for smaller studios, production companies, for rtups, but what is this and what does this consolidation mean for you . It is a little scary. Bloomberg. O be on so are we. What we are building is gigantic. The like, look, we are in we are indeed, we are small. But its the best kind of i ndie. All a little scary that this creativity and voices in the hands of very few companies. Very few companies means you inl get a lot less diversity what you see from a content respecter. At the end of the day, someone at the top of the company is going to have a prison from which all these things get expressed. That makes me nervous. Is going to have a prism from which all of these things get expressed. That makes me nervous. And i dont want to put you on the spot, but that is where barry diller is very big in that sense. We are a Little Company, and other companies are little Companies Like us. We do not own broadcast or cable channels. We are not in any of those. Not at that level. Right. And the tagline wherever one likes to say content is king, is it really keen when there are only a few guys on top . When makes me nervous there is distrib