Larry flynt will speak about Death Penalty reform. Six hours of talks today toween john kerry, failed defuse a standoff over the crimea region. Contexts clear in the of president putin being unwilling to make any decisions regarding the next steps until the vote has been taken. Helde referendum will be this sunday. Tomorrow night the Nation Security council will vote on a resolution that calls for a peaceful nomadic solution to the crisis. Group, andrica, citi a dozen groups sue the fdic today. The fdic acts as a receiver for 38 failed institution. Fraudulentd [indiscernible] start an ipoet to is in his april. Chinas largest Ecommerce Company is opting for a u. S. Listing as it struggles to approve a proposed governance structure. Those of the top headlines. Back to you. Thank you. Mentioned, the fast food sandwich chain quiznos filed for bankruptcy. This follows sarrow. Identify half a billion dollars in their chapter 11 documents. To tell us more is its cofounder. He joins us from denver with the first quiznos opened in 1981. Thank you for being with us. Take us back to the time when the first restaurant opened. What was in your mind when you started it . In 1981, thearted, story still there and operating, i came in here from new york. I was used eating scene which is baked in the oven. I came out to denver to go to eating summaryp and sandwiches on hotdog buns and thought there was a better way to do it. We created our first in which on 13th in grant. Bakersit through a pizza pride evan. The lines got so long when we opened. We ended up getting a Conveyor Belt type conveyor of oven. The innovation that allowed you to meet the demand . It was the recipe having to do with the bread itself. It was. The crusty italian bread. The oracles and vinegars. This was before the age of no carbs. Exactly. Producted building on a that came from the east coast. We studied a lot of submarine sandwich franchises that were starting at the time. Blimpie. You had pot bellies. You had subway. Breadere using a softer and what we were trying to do. We came out with something that more parties and on artisinal. Together. There was a deli in columbus by the name of quizin tinos. And that was that. Theyre the most recognizable. It certainly became recognizable as symbols. The company went public in 1994. Bring us uptodate. You are no longer involved in the daytoday operations because you franchised the business. It went public. Can you tell us about the difference between the corporate parent and the franchise operations . The corporate parent ended up buying it and taking it public, raising the money they need to grow it to 4000 stores. At their peak in 2001, it was the fastestgrowing franchise in the country. The fastest fast food franchise in the country. The marketing, everything they were doing at the time was spot on. The recipe for success was spot on. Everything was moving in the right direction. Going great. Was they hit the Great Recession and had to close 2000 locations. They closed about 2000 and. And, i wasnt involved at that time. I was involved in 2004 with a super bowl commercial doing marketing campaigns. Tell us about the circumstance of franchisees and their relationship to what would happen at the corporate parent in terms of their operation. They are continuing to do business. When i wasthat involved, they were part of the recipe for success was taking care of you taking care of the franchisees. Road, and down the growing to 4000 stores, that didnt happen. The Avenue Capital into getting most of the stores. Then you follow this with the issue today of the bankruptcy filing. Do think the chapter 11 will do the company breathing room to get its financial reforms in order as the franchisees continue to make sandwiches . I think a Larger Company is probably going to need to put the money into it to take it to a level where they can sustain themselves in a competitive market. You have the panera. You have a lot of fresh idea intocts, franchises coming play. Unless you have all of the research and marketing savvy 2004, iy have back in dont think he can sustain itself. T of a favorite sandwich . The italian sub is the one i created. That is the one that i think is still the best. If there is not a sandwich in your future, because we are watching our way, what else would they be on the menu . I dont know. I havent been involved since 2005. I currently just own operate a restaurant here in denver. Maybe you can make us a special founders additions sub when we see you. We can do that for you. Thank you. The cofounder of quiznos. Coming up, it is right place, right time. Youll learn how on idea that was scroll down on a napkin turned into a multibilliondollar business. The cocreator of soulcycle joins us next. It is time for our right place, right time segment. Our next guest wrote a Business Plan on a napkin. Now she has more than 700 employees, 26 locations, and at the forefront of a revolution. The fitness revolution. The cofounder of soulcycle. Thank you for being here. Thank you for having me. What happened to the napkin . We are looking for it. Down ondid you write the napkin . What did you envision . We envision having a place where people could come and find joy in exercise. Without there was a place where you could experience of thing that was fun, creative, a hardcore workout related exist. Workout. Where were you working out . Satisfyed something to your own desire to do something. That is true. I came to soulcycle as a user. I needed to use i needed to lose a lot of weight. I had to lose about 45 pounds. I could meet i couldnt lose it. My friend to me to a cycling class. I dont know if youve ever been. If you go to a bad one you want to kill yourself. Julie and i felt like we could create something that would make you feel elevated all the time. To you have any experience turning a business question my we didnt. We felt like there was a place where we just listen to our users, we would create something they could file in love with. 13 inations bring the last 12 months. In size. Ve doubled it is fun. We have an Incredible Team of people who were so excited. Likes getting any sleep . Yes. Is mission as a Company Something we take seriously. The people we work with are engaged. We wanted to create a place not our where we would want kids to work, but also places where people wake up and be excited to go to work. Now we have over 700 employees. People love working at soulcycle. Next whate kinds of classes . It is indoor cycling. Designed. Cycles we that are yellow. They are. Room, you can walk in in a bad mood and walk out in a great mood. The idea is that you walk in into this space and feel elevated by being in some place that is clean, where someone is greeting you with a smile and a great attitude. The experience itself is a human experience. If you want to have a killer workout, you will get it. If you really are going to something that is part of our experience, you can get through it on the by. If youre getting through your own resistance. What is going to ask you about. Lights. T with bright that is right. Instructors. The room is lit in candlelight. You are very much in your own personal space. You can check out and check in. Joy in the exercise. 45 minutes . That is 45 minutes. A full body workout. You can it is very efficient. Can you tailor the course is to your own schedule . We have classes that run on the hour. Now we have many opportunities to take classes all over the country. Other certain times that are more popular . What is so great about soulcycle, it is something that started out as a morning business. It is now all day long. 5 45 in the morning. 10 30 at night. Lets talk a little bit if we can about fashion. Fashion trends. We know that whether it is a, athletic wear, lululemon is a fashion icon, tell us about the fashion of fitness. Fashion and fitness is important. It is something we are passionate to. We do 14 collections a year. Part of the experience is not just the core business, it is what you wear to and from. You have to look good as you are trying to look good and feel good. You have to feel a certain way. There is a consistency. The Color Palette in the fashion is reflected in what is going on inside of the studios. It is true. We do a core collection. Collectionfashion that runs 14 times a year. It is exciting. We are able to follow fashion trends. Should now and soulcycle. Chanel and soulcycle prig what would you like to happen the rest of the year . We will open another 10. We will be at 15 for this year. Are you going to get sleep question my we are having a great time. Elizabeth cutler, the cofounder of soulcycle. Coming up, a tugofwar over town between the private Equity Industry and investment firms. Both are going after young bankers. How real is the competition . Who is going to win . Private equity funds and hedge funds are offering bigger salaries and incentive to laura way young bankers from their banking jobs. Ho Ching Townley become standard procedure ho ching talent may become standard procedure. John ricco is a partner at the atlanta group. Thanks for being here. I want to start off understanding about the business now. Salaries are strong. Demand is strong . In the private Equity Industry the salaries are very strong. 510 ave gone up yearoveryear. They continued to increase. The bonuses have been strong. It is a great time to get into the industry. Is good to bet into the industry. I agree. But is an exclusive club. A lot of times theyre looking for the wall street firms and junior talent because they are pretrained. They have a deal experience. They are prescreened. They are coming from top diversities in top talent. Itll have to train them. They can pay them more. A private equity firm, a hedge fund that wants to focus on a particular style of investment, says get me a list of the top 10 people at jpmorgan and bank of america. Those people are eligible to be lord away. Yes. There might be a thousand of those people looking for a couple hundred jobs with that. There is a constriction of talent. How manyhat apply to Years Experience they have . Focusing we see, it is on the talent to fill the 2015 class. Lowerre mostly trying to lure people graduating from 2013. They are being asked, on in the summer. This is a relatively junior position. It is not like you are expected to have a book of business and clients. These are junior positions. It is backoffice. Accounting staff. I. T. All kinds of hiring from front to back office. That is going to continue. What kind of money are we talking about . It depends on the position. They have 69 months experience. You dont want to be a big firm. You want to be specialized. What are the ranges . To 200,000 depending on the right candidate. As a base salary. Saturdays off . That is part of the traction the attraction. You can get a better lifestyle. Moving up in prestige. He also going to get a significant bump in salary. Your lifestyle is probably better. Stanley, yourgan should take saturdays. A lot of firms are invoking a saturday off aussie. Big about that. The policy to take time off. It is still a demanding job. It is not as demanding. Sounds like a buyers market. Thanks. Coming up next, larry flynt. Details about the Death Penalty, next. This is taking stock for friday, march 14. I am pimm fox. I want to go to yang yang in washington. Warren Buffetts Berkshire hathaway is urging shareholders to vote against a proposal to pay a dividend. Says berkshire has more money than it needs. The company doesnt pay a dividend because he can generate better returns for investors by pursuing takeovers and buying securities. Sonys playstation for gaming console top unit sales, beating Microsofts Xbox one. It sold 90 of what the playstation 4 sold. The xbox one generated more revenue because it is more expensive. Spending on videogame hardware has increased 42 from a year ago. There is a change coming to the sec 500. Changing the same to Green Mountain coffee. Larry flynt has been involved with the impediment he of with pornography with hustler magazine. He is also involved in Capital Punishment. New hampshire has become the 19th state to repeal the Death Penalty. The founder is still the center of this debate. He wants to be heard on the issue. He remains paralyzed after being shot by Joseph Paul Franklin of 1970 eight. Despite this, he is always objected to the Death Penalty being part of the judicial policy. He spoke about the issue with market makers. Tempers were flaring. Many people felt the only way they could react was to take somebodys life or harm them someone. Probably my best argument against Capital Punishment has been in england, pickpocketing was a capital offense. On saturday, when they hung the pickpockets, people in the audience will be going around picking pockets of people watching the pickpockets getting hung. Getting hanged. They decided early on that wasnt much of a deterrent in the Death Penalty. You dont want to seek revenge . No. Our Justice System should be about justice. Not about revenge and not about vengeance. I have a problem with that. And you look at the proponents it is Death Penalty, iran, north korea, and the united states. Be lumpedly want to in with those characters . We could be more than that. Nottal punishment is accurately administer. You dont see why guys on death row. Always underprivileged, under educated people. People dont have any means to defend themselves. Theyre the ones who go to the electric chair. If you snuff out someones life, in a matter of seconds, they are gone. Their suffering is over with. Spend make that person the rest of his life in jail, he will have a lot of suffering. T is much cheaper it cost to mullion dollars to execute a prisoner because you have all the housing. You have the costs three the petitions to be filed. [indiscernible] that is another reason why it doesnt make sense. Deterrent, if the Death Penalty was really a deterrent, i could support it. Prodeathe who are penalty have not come up with any evidence whatsoever that it is a deterrent. The only thing it is is off with their heads. Known for so many things. What do you want the most known for . I have fought to expand the parameters of free speech. I think, in a good way. That the greatest right a nation can afford its people is the right to be left alone. If youre not in violation of the law, most people feel the same way i do. Leave me alone. Everyone has focused on edward snowden. Some people thought he must it he shouldve been the time person of the year. I dont think that he is a hero. Has open aat he longawaited dialogue. Americansrtant to all. People identify with him for that. We cant lose the fact that we do need a certain amount of security. Good justify the means . I dont know. Confused on the issue of free speech. I think free speech is only important if it affects if it offends. Tons of people are offended by different things. Drawing a line there, who knows what is offensive to someone. That is true. To live in athat free society, you pay a price. The prices toleration. You have to tolerate things that you dont necessarily like or you can be free. I tolerate fox news. Bill oreilly, archie bunker. We have to do that if we are going to be free in society. Larry flynt. Coming up, california identifies three toxins they want to ban from consumer products. Those details are coming up. The state of california is cracking down on toxins in everyday items. The state was to eliminate some childrens spray foam insulation. The changes following stable that was changed last year that requires companies to replace toxins with alternatives or face a ban. I want to bring and are overworked a partner at duane morris. Both join us from san francisco. I wonder if we can begin with you. Based on your experience, what kinds of toxins are we talking about . Only announced three chemicals and three types of products yesterday. Are like a cleanup list from the 1980s. These are wellknown toxins. Paint strippers. A chemical that has killed over a dozen people over the last couple of years. Chemicals in his raise. Occupational asthma. A flame retardant put in bassinets,baby mats, foam childrens products. It is a carcinogen and banned in the 1970s. It is still showing up in childrens products across america. The state of california is beginning a program called the safer consumerproducts program where they will identify the most hazardous chemicals and then try to motivate industry to identify alternatives. Of these known hazards out products currently exposing americans to Serious Health issues. Issuesng in on the legal related to this new law, give us some perspective. Why havent these things been banned . It has been a very long road. The federal government began regulating these chemicals many years ago. At theson that it is now state level is that a lot of people are simply impatient with the pace of activity of the federal agencies charged with the task. Several states, including california, but also vermont and others have begun their own tasks, essentially to pile on top of what the federal government has already begun. To identify chemicals of concern. To identify products and what chemicals might turn up. To charge the producers of those products with analyzing what they have got, and asked them the hard question of why is that product in there, and is there a better way you can make this product without that someday will be better for all who use the product or are exposed to it. That is the background. The real difficulty. Many people are asking the question, is this something that should be done on a state level, or is it better to pursue the National Level and deal with the delays that come with that. Where do you stand . The perspective of the clients i represent, most of my clients are manufacturers and mr. Beechers in consumerproducts. They are extremely concerned about the prospect of state to state regulation. Of having a product that may be legal in oregon, illegal in illegal in possibly others. What about using californias law as a basis for a more Widespread National law ques