We talked to glu mobiles chief executive. Cleveland Officials Say that lebron james is going to have a half a billion dollar year affect on the local economy. All that and more over the next hour. Lets get headlines from carol massar. Live has agreed to delay its start in new york city. The car sharing business as it needs to dot the is and cross the ts. A judge did not issue an order prohibiting the company from starting up its service but it extended the status quo. Boeing is said to be nearing a deal for 9. 2 billion worth of plane orders. The company is poised to win two deals with companies. Ebay working the 1970s to get sought after collectibles and artwork available online. They will place some live offerings up for bid in april. Thank you very much, carol massar. Another headline involve the citigroup. The bank of paid 7 billion in fines. The News Conference in washington today, eric holder detail the reasons behind the 7 billion fine. They sold effective loans to countless investors, including federally insured Financial Institutions and they made false statements to investors. In marketing materials and documents filed with the securities and Exchange Commission. They let investors and the public to believe that these Financial Products had been originated in compliance with the law and key underwriting guidelines when this was often not the case. Here with me to discuss the latest in the settlement is keri geiger. You have been doing this all day. We want to go to the details. Citigroup, lets start off of the fine. Is that considered to be a big fine . 7 billion to some people might be a lot of money. It is definitely a big fine and for the department of justice, it was a huge a fine. It was one of their biggest to date. They are getting 4 billion with the other 3 billion dollars going to various state attorney generals as well consumer relief fund. The settlement came out on earning announcements. Because of the fine and the enormity of the fine, citigroup earnings were down 96 . Essentially all the revenue that citigroup had generated as a net profit for the Second Quarter was basically pulled back by the department of justice and paid out as a fine. Why would be shares of citigroup react so positively to the decline in trough it, but also to define itself . We call this postsettlement bounceback. We are seeing a trend. We saw with credit suisse. We sat with bmg para boss. The share prices bounce back up because the fines are related to analyst expectation. When you fear that off the board for these big banks, investors are happy and be shares bounce back up. Citigroup is not the only bank to pay a variety of fines related to cases. Who is next and who is left . The mortgagebacked securities once have extracted the largest one today. Jpmorgan chase was 13 billion last year. Citigroup had 7 billion today. Bank of america is expected to be 13 billion and 17 billion for potentially selling securities back into the market. Was that linked to their acquisition of countrywide . Bank of america is going to be larger because the acquisition of merrill and acquisition of country ride that countrywide which makes their exposure to the mortgagebacked securities much larger. We have other banks that are facing different types of fines and settlements and sanctions that are basically run under a full spectrum of regulatory infractions. The Security Industry associations and Financial Markets association is calling or stock market reform. It has recommendations on how to go about this. Sifma represents 400,000 banks and asset members. I want to go to washington with the chief executive and president , ken bentsen, joins us now. Tells about the proposals. Thank you. This is something that our members feel very strongly about. Market participants from all facets of the markets from very large retail houses to interdealer brokers to Asset Managers to large dealers and coming together to come up with a list of concrete, tangible recommendations that we believe the securities and Exchange Commission can adopt in short order. Those included either a laminating or greatly reducing Market Access fees, limiting or putting a floor on who has quotations, so we do with the fragmentation and complexity of the market right now. Look at data dissemination and say everyone should have access to the same data as a same time as opposed to what we have now were some can get private data feeds ahead of data from the sif. Also, institutional customers and the disclose of they get in terms of order restitution and how that operates. Just quickly, these type of reforms that you are putting forth are similar to other reforms and other regulatory agencies such as the fcc, the surgeon attorney generals are putting forth. How do you separate this from the rest of the pack and how that is going to change this market, which is so under scrutiny right now . Lets start with the premise that the markets today are more efficient than ever before in terms of execution and in terms of price as it relates to spreads and commission. There is no question that the markets are more complex, fragmented, and clearly that is serving to undermine Investor Trust and confidence. We think that the recommendations that we put forward dovetailed very nicely with much of what chair white announced a few weeks ago. This is something our members have been working on for many years. At the highest level of our organization, across the different types of firms from across the country, really came together and what we think this does is to provide varied rawbased support for market art is offense, both the buy and sell side, both institutional and retail behind a package of reforms that we believe can help buttress Investor Trust and confidence in the market. Ken, are these proposals already supported by their membership . Have they signed off on this . That is right. This is something the board adopted last week and that is what we are releasing it today. You dont need any Government Action in order for your trade group to agree to all of these rules . No, but much of these have to be adopted either by the sec and or fan rough. This is Market Participants, buy side and sell side putting forth to the regulators to adopt. Barclays is under fire for some issues related to highfrequency trading. Do you think that creates a conflict of interest or issues with how certain members are already participating in the market for these regulations to take effect . I do not think it does because what were saying here is a list of recommendations to the regulators to adopt. Our Market Structure is a product of rules adopted by the as ec and the different Market Participants react differently to those rules. We say it is time for regulators to go back and make additional changes to the market to do with data dissemination, complexity, and transparency and fairness that we think will benefit and make the arc is more efficient than they are today and most importantly, help buttress Investor Trust and confidence in the market. Stock trading volumes are down. If these proposals are adopted, what will happen to liquidity . We hope that these will help improve liquidity. We hope they will help improve price transparency. Certain aspects of trading volumes are not necessarily related to the rules but we do think that if you deal with complexity, you do with fragmentation, you do with data dissemination and disclosure that you are going to give it investors greater confidence in the market and that should help with liquidity and help with trading volumes. A lot of trading volumes are determined by other economic factors. Ken bentsen is the chief executive of sifma. Also my thanks to keri geiger. Find out why Boston Market is entering the burger market. This is taking stock. Im pimm fox. According to the usda, last year marked the first time in nearly a century where americans consume more chicken and beef. Boston market is no stranger. It cooked over 61 Million Pounds of chicken last year. It is trying to sell more with the launch of its new blt rotisserie chicken burger. Here to tell us more is Boston Market chief executive george michael. Give people a bit of an update for Boston Market. There was one time or the stock of Boston Market was publicly traded. It soared, collapse, and now is owned by a private equity fund. We had three great years. We introduced new menu items. Last year we spoke about grapes which have been a success and we enjoyed a 25 lift in sales in the last three years. It has been a good friend and we are doing well. We are starting to open new restaurants now and we are here to talk about a new product we are launching today. Tell us about the new product. I was under the impression that something that was a burger had to be made. Chicken burgers are very popular in the Restaurant Industry but we believe we have a unique product because we do rotisserie chicken. It is fresh chicken throughout the whole day. We are taking that chicken and putting it on a hamburger bun and serving it as a bacon, lettuce, tomato chicken burger. It is rotisserie chicken. Real chicken made from chickens we cook fresh. You have nearly 460 restaurants . 459 restaurants and we are about to open another one sometime this late summer. What characterizes Boston Market . Which segment of the market do you participate in . We are in the fast casual segment, a segment that focuses on quality food but served fast at an affordable price. You have background in the food service industry. I am wondering if you can give people example of your previous responsibilities, at burger king, a and w. I started at a and w when i was 17 years old and going to university flipping burgers. That is how i got my start in the business. I spent my teen your is in them with canada. Five years in the u. S. And i went on to burger king for a years. Then i joined chiles, macaroni grill for two years and i joined Boston Market four years ago because i believed in the brand. As part of the brand, where does this blt rotisserie burger fit in in terms of price points . Probably at the midprice point. Were going to sell the chicken burger for 6. 49. A blt is 6. 99 and you can add a drink order for 2. 49. It is affordable. It is not a small burger. It is a burger consumed by adults. We wanted to focus on quality. Focus on the multiplication of chain restaurants. We notice the shattering of from half baked stores. Is the Restaurant Industry to be built on a traded public model, going public . It is mostly about execution. You have to be really careful with execution. You have to have the right employees and train them well. It is not just about opening restaurants, it is about making sure the employees are fully engaged, welltrained, because it is about execution. We have multiple choices where we go to eat. You only go to the places where you are getting great value. Fiu is not just about price, it is about service, ambience, the food that you get on your play. It is about where you are getting great value. Talking about value, where do you see competition and what kind of values do they offer . You get value from different chains. There are fast food chains that focus on pricing. They get the 90 nights and offers and the one dollar 99th and and then you have the fast casual, where we focus on quality of the food, on service, and we provide value as well. And value can differ based on the equation of price, service, quality, and ambience. From the marketing perspective, what about promotions . What will promotions play in valuing a Restaurant Business . Promotions work in a big way. It gives an incentive for the customer to come back more often. You promote a price point. Other times you promote a limitedtime offer. Our blt rotisserie chicken worker fits in that category. It is a limitedtime offer. Other times it is emoting different times of the year at promoting different times of the year. You promote holidays or thanksgiving. They can vary from price to a limitedtime offer two different parts of the year. Youre opening a new base. We are delighted to serve our food to be troops that serve our country. Where will it be . Fort is the first one. Thank you very much. George michel, the ceo of Boston Market. If it all go through, i have details on the deal and more on the mergers going on in the food industry. This is taking stock. I am pimm fox. Lindt is buying russell stover. The new company will be the third biggest chocolate producer in north america. With more about this deal and what it means for other deals that total 70 billion so far this year, i am joined by ken shea. Thank you for being with me. Lets talk about this deal. Lindt for russell stover. Why do they want to buy it . It expands their footprint into markets they are not strong in. Lindt is a producer of premiumprice chocolates that generally it sells to chocolate shops. It once to broaden that base to get into where it is massproduced packaged foods, such as grocery stores. At his work consumers are going. It expands the footprint from a Distribution Channel as well as a pricepoint standpoint. It wants to reach the mass consumer. Russell stover can be found in costco and varieties of grocery stores. Is this mean lindt gets better shelf space . Sure. Lindt is going to start with russell strober. It will learn to the new channels and it would not be surprising if it expanded its own supply to the same channels. They also have ghiradelli out of san francisco. It is also considered a highend priced product. With russell stover, it enters a more moderately priced market. Is this a premium product generally or is there a change in the way that chocolate is being consumed . I guess to a degree it could be. Gift boxes have traditionally been a holiday, seasonal type of thing. It is more yearround now. You see locations like pharmacies and drug stores in other locations. I think the asset went for a higher price tag than people were expecting, i believe. That is the rumor price, anyway. I think it was because there are few properties left in the chocolate category that reach such a wide audience. It is a consolidated market. In the u. S. , the top three producers will account for over 60 of sales and that is pretty high relative to most markets. Talking about consolidating markets, talk about tobacco. Reynolds american. There has been a lot chatter about Companies Getting together and being a tougher competitor to altria. If reynolds and laura laura get together, it will be a strong number two. I think a lot of it will depend on one, can reynolds afford lorillard . It is about 27 billion and the calculations we made says if it uses more than 50 debt to uses acquisition, it may jeopardize its ingress midgrade credit rating. There is a thought that they will sell brands to appease antitrust regulators as well as to raise cash. We have to leave it there. I want to thank you very much. Ken shea. This is taking stock. This is taking stock. I am pimm fox. Lets go to carol massar. Linkedin said it is acquiring and received news about them seconds from publication. Terms are not disclose. Barclays saw a decline. It is official. Adidas will take over from nike at the official uniform supplier for the English Premier LeagueTeam Manchester united. Adidas signed a deal with a 20 time champion. The agreement kicks off next year. Thank you very much. Looking forward to johnson and johnson. Lebron jamess return is looking to bring half 1 billion to cleveland, the Kim Kardashian game is expected to add 200 million in sales. That is according to one analyst. The creator of this game is glu mobile. It has seen its shares rise over 50 since the launch last week. I am joined by niccolo de masi. What is this game . A pleasure to be back. We pondered with kim about 12 or 18 months ago to build a game that is tailored around providing her fans with an experience so they can carry in their pockets and be in kims world. Kim is effectively your mentor as a player as you work your way up the rungs of hollywood to become an alist celebrity. How does Something Like this work . I understand the game itself is free but once in the game itself, you can purchase various tokens and you can purchase access to Different Levels of the game. How does Something Like this turn into money . We make money in two prints full mechanisms. There is advertising and that is 10 or 15 revenue on average. 85 comes from microtrends actions. You are buying things like energy and stamina to allow you to complete more missions, more tasks under her tutelage and to get you better kits. A new outfit, a new bag, a new apparel. How about a new dinosaur . Dino hunter is our second biggest game right now. Our stock is up 60 in the last three weeks since the game launched. Dino hunter launched last thursday and it is the number one free game in the app store. It is lower in grossing ranks but it is higher in the free ranks. I am very proud right now about where glu is performing. The stock price is higher in the last 18 months and you would be hardpressed to find a game company that has two games so different in the top three positions. Any interest in not only selling the games but selling glu mobile . [laughter] we are a public company, so as i say, for the right premium, everything is possible. We are just as interested in being a consolidator is a consolidate he. We made an acquisition last fall. As we get larger, our Acquisition Strategy can become more impactful for us and we will combine an organic and inorganic strategy in the next year. You mentioned you had the number one and number three position in free downloadable games. As for the apple ios platform. Nu