Artillery killing at least 13 people. Ukrainian forces have pulled back from airport terminals in donetsk. Violence has stepped up since to negotiations between ukraine and prorussian rebels broke down last week. Germanys foreign minister said there were tangible progress in new peace talks. A new twist in the wireless wars. Google is preparing to sell Wireless Service directly to consumers. A move that lead rivals to improve speeds and cut prices. Google has reached deals use the networks tmobile and sprint. No word whether Google Service might start or what it would cost. Box is pricing its ipo after the market closes today. Shares will be offered at a discount to the latest round of financing. It is a signal box faces stiff competition in the cloud field industry. Box revenue soared 70 in the most recent quarter, but not showing a profit. Uber has raised 1. 6 plea dollars in convertible debt 1. 6 billion in convertible debt. They will continue rolling out in more cities overseas. About 15 companies will be firsttime advertisers on this years super bowl broadcast. That is the most weve ever seen since the dot com boom. Super bowl ads cost about 4. 5 million for just 30 seconds. That means spending more on one ad than it normally spends on average rising for the whole year. Advertising for the whole year. Lets head back to davos. Another beautiful day. The bells ringing in the background from their ancient church, just spectacular weather for spectacular conversation. In davos that also means people in forward when Michael Porter speaks. He is at Harvard Business school. To say he is a leading authority on too much to do with making a business in this linkage of economics to finance the business and Good Governance and good leadership, goes without saying. Professor porter, wonderful to see you. What a strange davos. All of this going on with ecb, negative Interest Rates. What i call the great distortion. Through it all, it is america divergent. We seem to be doing a better. Lets go back to harvard. Is it because we do Creative Destruction better . I think were doing better now a little bit by default. I think it is more other people are doing poorly rather than were doing better. That said, there is a resilience in america, a set of phenomenal strengths, a kind of believe in technology willingness to be dynamic and cut cost and do it is necessary that really is still quite unique. Our growth is not fast. We have a tremendous challenge for the middle class. We have any number of Economic Issues we are not addressing. High corporate taxes, high cost of doing business, high cost of health care. That said, there is a dynamism and the rest of the world is kind of stalled out on all of the usual barriers. Within that resilience, the question i get constantly is when do we get to participate . As you know so much of the gain has gone to the corporate world. When does the rest of the world participate . I hate to use this word, but when is there a labor paradigm for america that allows for a labor prosperity . I have been leading this multieffort to look at the u. S. Economy and the trajectory in the narrative of the u. S. Economy right now that we believe is the most fundamental is what you just said, that is it is the to virgins. It is the inability of people that are not elite entrained and worldclass talents and computer scientists to ask a prosperous economy. It is the middle, lower middle and that divergence is unsustainable. First of all, the massive population are the consumers that drive the economy. If theyre not doing well, they cannot drive it. The political process is completely screwed up. If we have some people a lot of people not able to prosper. This is the defining issue. What do we do about it . There are some threads starting to percolate. I dont know if you saw the Big Insurance Company aetna. Raised wages. The rationale was we have too much turnover and spinning our wheels and this is going to make us is this a change in the American Business ethos even before ben franklin, that were going to be locking in structure . I think theres a growing awareness that we are in a bad equilibrium, that business is prospering, but it is doing it in a way that is very inefficient and it is not giving living wages and incomes to the average citizen. They dont see themselves going anywhere. If business is going to have a legitimacy to continue to lead in america, i think theyre starting to figure this out. I think of john taft working in the Financial Services industry at rbc capital markets. It is a question of american stewardship of those fortunate, whether they were at harvard or whatever school. To borrow a phrase, rachel, i dont know where i got this phrase. The idea of americans feeling they have a barrier to entry. They have a barrier into the game. How does Michael Porter responded that . Tom, i think they do feel that. I think we have to respond to that on multiple levels. And some of the things we have to do our rather obvious. And we cant get them done from public policy. How do brief the president on his response with committed to colleges . Committed to colleges . That is original, people who have good skills, not great skills. How does Michael Porter responded that . The biggest gap we have in america in what are called middle skills. Is that your high end for your degree, but the important roles in the economy that can be productive and support high wage. We havent we have a broken strategy for developing those middle skills. I think the president focusing on committed he colleges, Community Colleges are important. The idea of making a free, a lot of people would say that is in the problem, the problem is childcare and not how much it cost beginning people to complete. Theres a more complicated set of issues that really are holding back people from taking that path. I personally believe ultimately, the Business Community itself has to change its mindset. What about the Political Community . We have a conservative ethos, everybody for themselves. I think that particular conservative ethos good things about conservative thinkings, but i think particular ethos, we have to reach a new synthesis in america. The Business Community itself is starting more and more effort in the Business Community to do things like aetna did. We at the school, we talk about this idea of commons. Any business depends on the comments in its community, a set of joint assets, people the commonwealth. This is a classic issue philosophical issue that goes back forever. The globalization and the accelerated markets really drew the attention of American Companies away from the commons. I think what we see now is it is important. If that isnt working, then you have this divide. If you have this divide, we will tear ourselves apart as a society. Michael porter, thank you so much. He is with Harvard Business school. We look at business and the ecb coming up later. A lot of coverage earlier. Coming up, we look at manufacturing of america and the challenges for general motors. Stay with us from davos switzerland, this is bloomberg surveillance. It is davos switzerland. That is the view of the gmc in davos. Not much use for a big greg to get you through the snow. Some years it is five feet deep. Less so this year. There is davos, switzerland. We will give you full coverage on bloomberg surveillance. On television and radio of this important day for mr. Draghi and the ecb. Right now Manufacturing America and global Manufacturing America, Daniel Ammann is president of general motors. Theres all the distractions of rebate this in rebate that. Lets talk of manufacturing discussion. Dan, why are you in davos . We are a big global company, operating in every major market of the world. Theres a lot going on in the world right now and also also volatility. We want to understand what is going on so we can adjust our business as needed. We talked to General Electric the other day. There are many major players. It is a cutthroat business. What is the gm process distinction in asia, europe, or Frontier Markets . Where we are taking the company now is reorienting our whole mindset around the customer. Starting with the customer and having a deep and profound Understanding Market by market what does each customer need what does each segment of the market need, then working backup the china make sure were delivering vehicles and services that meet those requirements. You listened to your customers. And i believe your dealers. On repressing or new cadillac. Tell me about that process. That would not have happened 20 years ago. You put out the cadillac, then you listened. We listen. Cadillac is a very important part of general motors. The luxury space is growing very profitable. We have in a conic brennan cadillac they gives us a Great Foundation to build a business back to the real pinnacle of the automotive space which is where it belongs. As we go down the journey, were engineering tremendously excellent products. We are rebuilding the brand getting the customer expense how did you price it . You said, this was a mistake, we have to change it. Did you make that decision . We said what is the market telling us and how do we repackage to make sure were delivering exactly what the customers want and not delivering what they dont need. I look at the super bowl wars and the television wars. What is the jim distinction is you sell quality, branding manufacturing you have the gm distinction you sell quality brenda, manufacturing. How are you going to position yourself . The company in dearborn, what are they called . Is it ford . It is ford. How do you compete against those guys or chrysler . It is highly competitive globally. It is our fundamental belief the more and better we understand our customers, the better we will be able to deliver exactly what they need, the service they need come in the sales experience they need. And aluminum truck . We will see. The customers will tell us. We feel very good about our truck strategy. We have a threetruck strategy. We Just Launched the chevy colorado, really recreating the midsized pickup truck segment. That is going to be a home run. Tell me quickly about labor in america. The autoworker used to be aboxe middle class, the benefits, big salary. There is been a repricing of american labor. Is that process over . Our business depends, a huge part is the middle class and huge part of our Employee Base is the middle class. It is our job and believe we need to be up to continue to grow that middle class by offering the right employment, the right wages. Keeping our business competitive so we can grow and create a win win for everyone. Travis from uber calls you up and says, were talking to toyota. If he wants to do an exclusive deal with gm, how to talk to Something Like uber all their drivers are buying cars, how do you deal with a problem like that . I dont think it is a problem. It is an opportunity. The engagement with the customer, how Consumers Want to consume transportation in the urban environment is changing on a milley. Were at the forefront of working through that. Understanding the customer how they want to get from a to b. How we can help them to do that whether it is in a driver assisted scenario new urban mobility car sharing ridesharing is a whole new world of opportunity. Over the rebate stuff . Not just gm, but other auto companies. When did this start . When is everything recalled . There is been a lot of activity across the industry. Our focus is making sure we ultimately get to zero defect. The company now is producing a zero defect vehicle. Until we get to that point, we will do the right thing for the customer. If we see any sign of an issue we will go out and address it. What is the new technology and paint . I look at the pain. My grandfather had a catalog and he said he looked at the paint job and then there was the first 80s paint job. The paint continues to evolve to be one of the most advanced part of the whole silly process. A similar process. New colors, new way of getting there, and opportunities for the customers. What are you going to do about china . China will continue to grow. It will remain the biggest market in the world so far as we consider the future. It will grow at a slower rate. Were still in a leadership position in that market. General motors, here in davos , switzerland. Coming up, vice chairman of lazard. Global wall street and particularly his thoughts on europe. It is a europe focus and frank for, germany. Gary parr. From the World Economic forum davos in davos it is bloomberg surveillance. Good morning, this is bloomberg surveillance. Our guest host for the hour. Time for the morning mustread. By morning mustread is from an economist but also keeps a blog marginal revolution, an amazing reader. He reads a tremendous volume of everything, actually. He wrote a piece on how to read fast. So lisa, i was struck by this, an amazing rule. I have all of these half finished, have started talks by my bedside. Im inspired by this to just start dumping them. Im glad he gave you the liberty. There are different kinds of reading. Theres reading for pleasure and reading to sort of get deeply entrenched in the story and empathize with the characters and then reading for information from a much more practical sort of tool. Close i only read for information. I miss that deep dive that you talk about. If youre just reading for information, why not read articles . Shameless plug. Why not read really sharp blurbs . He talks about how he misses having the time to really spend three months working through the iliad with footnotes and multiple translations to understand it. I kind of miss that. If that was your goal to get up just speed read and not interested chuck it, would you read the iliad . Would you read any of these books that take actual work to look up every single word . The trouble for me, because the books are so long, i start reading more slowly. I went through two big books recently. It took a couple of months because it was 800 pages. I also read fountainhead. But it was so long. The first book i ever decided consciously i dont have to finish this. I got about four chapters in decided there was not enough time in the world for me to finish that book. I wonder how much people feel compelled to finish a book and try to make themselves like it. The classics have that ability. People feel like they should like it or they are philistines, they really should get into it. Would tyler cowen have focused on i buy aspirational books, big biographies. History of central banking because i want to know more things. You get a chapter into them actually somebody who was a reader for the Pulitzer Prize committee decided nobody ever read these books and he wrote a great essay six years ago were he said, i give up, i cant finish your books, you win, just take the pulitzer. I like the books written by columnists because theyre pretty episodic. You are a writer. By the way, brendan is a staff writer for business week. How many paragraphs of a bloomberg story you expect readers to read . Every single word that i write. To be honest, one of the things i do i try to write short. I dont like to write long. If my idea cannot be encapsulated just jump to the fourth paragraph. It is true. Honestly, i think more journalism is trying to write to the reader who doesnt have a lot of time. It is good to have an editor that is an advocate for the reader. My problem was, i wrote too much, too slow. Still coming up that we will take a look at the big money of soccer sponsorships. This is bloomberg surveillance. Good morning, this is bloomberg surveillance. We will get back to tom keene in davos in a moment. American express is reducing its workforce by more than 4000 jobs, making companywide cuts this year. Its the profits Beat Estimates cloning 11 from a year earlier to 1. 39 a share. Sticking with job cuts, ebay will cut 2400 positions and buy back shares. It is entering an agreement with activist investor are like on as the prepared to split its marketplace and payment services. Shares dont almost 5 after climbing 2. 3 in 2014. Shares down almost 5 after calming 2. 3 in 2014. Nationals introduced a new pitcher yesterday. 210 million for seven years. It makes the 2013 cy young winner the most expensive righthanded hurler and major league baseball. He had been with the Detroit Tigers for the previous five seasons. Those are your top headlines. Sitting on a rooftop in switzerland is tom keene in davos. Thank you so much. Truly historic day as the ecb Jonathan Faro fired up about the kind of reaction we get sick on a particularly, within the press conference we will see for mario draghi. Some here all year, gary parr vice chairman of lagarde. Wonderful to have you here. The usual wall street should check, lets get right to the moment. In a you talk to mario draghi three times this morning to get the proper perspective. There is a stereotype that all banks are the same. European banks arent like fortress diamond, fortress moynahan, are they . You are right. Europe is a much better shape today than it was, say, three ors ago, but it is highly fragmented. For example, just in the last two months with the swiss franc move in even six mins earlier the russian ruble deterioration has caused all sorts of damage in a number of banks. Were looking at banks that are still recovering from the recession. Obviously, the economy is weak. Just to take currency movements create these issues that u. S. Bank stone face. You and i know, and this is a terrible bias within the industry, every time you mention european banks, we turn to the austrian banks. What is it about the oxygen in vienna that makes you and i always look to austria to see a challenge . It does happen that aust