Says it arrested four people. The Obama Administration has officially told a texas judge it will appeal his ruling temporarily brought blocking the president S Immigration action. The decision block the administrations plans to process applications that led us many as 5 million immigrations stay in the u. S. Also taking aim at brokers. The administration is pushing a proposal to require advisers to abide by a standard and will make it harder for brokers to push extensive expensive products like higher neutral bonds. It is really unfortunate the white house would engage in this type of political discussion when in fact, theyre really taking the side of the 58 million households and the registered representatives all across the United States to get the education that they need to save for retirement. The white house says the goal is to and backdoor payments to help rochers. The pharmaceutical industry guide is buying pharmaceuticals for 10. 1 billion, the biggest acquisition yet. Taking a chance here. One of the big drugs is up for fda review. Here is the ceo on that drug. We feel quite comfortable this is the case and will be approved. Terms of timing, we are hopeful for the spring. Still focused on small and mediumsized acquisitions going forward. The titos republican commissioners of the fcc want to delay this weeks scheduled vote on net neutrality. Demanding the chairman tom wheeler release the three engine two page proposal to the public. They want to table the vote until until the public has seen it. Chairman wheeler says it will keep the internet fair and open. To the lead, it is a critical time for the paytv industry. Subscribers are leaving satellitetv s company Like Dish Network are scrambling to find ways to make up for lost revenue. Founder charlie is returning as the ceo of dish, replacing a 65yearold who Just Announced his retirement. And raising the states arguably more than any country in the history of technology, 50 billion on special without really saying what it will do with it. Joining us from new york is alex sherman, but first, lets go to the s p i q senior analyst. I know you are just on the call for dish. There are a lot of questions out there about what they will do with all of this. Anything cleared up . I suspect that was the dominant theme throughout the call. We left the call not closer to any potential clarity on the strategy here. A number of offers on the table potential partnerships monetizing through potential sales of the spectrum, we still believe building out the network is the least possible path here. The result of the last auction it kind of reshuffled the deck and we think dish is much more attractive as a potential partner to maybe tmobile and sprint. I still believe there are a number of options here that have opened up as a result of the latest acquisition. Alex chairman, who covers deals as well as anyone, i wonder, does this make them a likely acquirer, partner . What is your take today . I think dish has always been a likely partner. That is part of the strategy and partially why he renamed himself ceo today. Charlie has been sort of behind the scenes in the past few years, orchestrating the strategy of dish and working on buys and now the auctions most recently. Now the the added a accumulated storage, it is time for stage two, to have the reveal. Of course it did not going anywhere in 2013, but the time has come in 2013, but the time has come again where they will likely make their next wireless move and i think charlie will probably try to either partner or acquire an existing wireless carrier, tmobile, brought up on a call a few minutes ago. Again, he denied he was interested in acquiring tmobile. Im action that is probably option number one for him as we go to the next few months of the year. Also during the call he said something about the existing spectrum they have will give hims him coverage of 70 of the United States. To do what with . Do they just want to be a mobile carrier . The plan is to use their new tv product, video over the internet, and bundle it in with the wired this the wireless network. Charlie on the call reiterated, the whole plan for dish is to have some sort of mobile video product. That is what he thinks the next iteration of dish network is. He wants to get away from simple paytv satellite dish and get rid of the acquisition cost every month for every person that they sign up, because you have to install the satellite and pay for the satellite, move it online, push it to mobile video, where he sees the future of the business going, and that if he cannot do any of that and no one will play ball he will have to think about selling the spectrum or selling the company. During the call i wonder, as it relates to what the project is, is that enough for a 50 billion cost of special acquisition . The simple answer is no. It is still very early in that world. It over the top video pier no one is really sure of how the economics of that will evolve longterm. What is clear is that it kind of gives them kind of a plan b to kind of defend themselves in a potential kind of attrition in the paytv universe which is an industrywide phenomenon. What you are seeing now is kind of trying to hedge their bets and trying to keep their auction options open and make themselves a little more indispensable, especially since some of the content providers themselves are taking the content online. When you talk about wireless question came up whether the wireless strategy and online video strategy are independent and i think in some ways, the spectrum dish is acquiring can become even more vulnerable in the over the top video universe world where the industry is now gravitating to and remember, that 50 billion valuation, which came from bloomberg reporting, that is not what charlie spent on the spectrum. That is just what we are value evaluating it hat. The idea here is that he would buy it for cheaper and then theoretically sell it or use it and he would have a higher valuation at the fact. Lets talk about one of the methods he acquired that. Dish partnered with tiny and barely existed businesses to qualify for a Small Business exemption in the auction. Was that discussed . There was a question going into the call, that is a fairly amazing thing they were able to get away with. I think it was not expressly access in the discount you are expressing. I do not think what they did is any different than the traditional way they approached the auction. If you look at rules, i think there is flexibility in that regard. I think the bigger question is you know, what does this massive spectrum do, and they are now looking at kind of a spectrum play, as opposed to a core paytv business, which we saw is a very mature industry. You think about the next year or so, how this will all play out in terms of what views they put will determine whether it is justified or not which is kind of why we are neutral on the shares at this level. Right. Thank you very much, as well as alex schirmer, we appreciate it. We will be right back. I am cory johnson and this is bloomberg west. Here are tops top stories. An annualized rate of 4. 8 million. Rising prices, putting more firsttime homebuyers on the sideline. Port workers up and down the west coast are getting back to work today, finally, trying to clear a backlog of ships piling up all over the place. Union and port owners restate deal last week in a contract cutting the Labor Movement in half. It will take at least six to eight weeks to clear the backlog. The oscar for best documentary has got to citizenfour, the film it tells the story of Edward Snowden and follows him as he leaked details which had a big impact on world technology. His girlfriend appeared on the stage and snowden himself released a statement saying he hopes the oscar will show people that ordinary citizens working together can change the world. We will have more on the oscars coming up, including a look at the adding the editing technology. A former venture capitalist and current read it interim ceo is suing a former employer in her lawsuit and says she was pressure to have sex with a coworker and spent who spent five years retaliating against her after they broke off their affair. The firm says the affair was consensual and the conduct was never complained about until much later. What is the case say about the coulter of Silicon Valley and the place of women in Silicon Valley . Joining me now is law professor Kevin Williams and bill from can. And bill. What do you make of this particular case . In some ways, this is quite different than what we have been hearing about from Silicon Valley. On the one hand, i just completed a survey of women in stem and one third reported Sexual Harassment. Most of what we heard of with women in Silicon Valley is much more subtle stuff than what went on here. Women being called aggressive as opposed to assertive. Women having to prove themselves over and over again. We have situations where we will see in trial what comes out, but that there were literally quite different business rules applied to men and two women so that is this rules directly relevant to, womento comp, not being invited to corporate only business dinners. This is different than what has come out before and it was the kind of thing going on in law and medicine 20 or 30 years ago. Till, is this case really an outlier from what we know as subtle and pervasive things affecting women in Silicon Valley . Not necessarily in my view. The bottom line is the courts look at each situation casebycase to read it is hard to look at trends as would a law professor p when youre in the trenches, you look at exactly what happens here. Direct evidence that statements were made to her and that she was denied compensation, that she was sent to siberia, that men were promoted over. It is somewhat typical i think of most Sexual Harassment cases, and particular Silicon Valley or no Silicon Valley, women faces all the time and it will be a situation of what the jury feels has really occurred and how they want to dole out the damages, if they think this was a problem. I do not want to take the devilss argument here, if the case proves she certainly alleges she was sexually discriminated against, and indeed she was a crummy employee. Is the if the case does prove that is it still useful to look at the issue through the lens of this case or is it damaging to do so . I sit is important for a number of reasons. She did not even allege Sexual Harassment as one of the claims. What she alleged was retaliation it once she brothers to peoples attention they say she did not bring it to their attention, but what she said is once she brought this to many peoples attention, the coo, the set of the head of the hr they basically were not responsive or they were inappropriate. For example, she alleges that one partner suggested a oneonone lunch with the man who she alleged harassed her it is not a professional way to handle that kind of a complaint. Really important messages for employers are that if you have an employee alleging either Sexual Harassment or gender discrimination of any kind it is very important to take it seriously and get on it immediately, to conduct a really thorough and responsible investigation, and act on it. Quite i would say doc except d i would sayuh i would say duh. Is it not healthily to have this discussion even if it is the case someone is a comedy invest to gator investor . Ive no idea. Basically, every one of these cases, you have the same situation. The employees are saying they have been retaliated against. That things have happened. And the employer saying there is a legitimate business reason. That is a given. The investigations went on and what is really striking to me is the fact that the case is actually going to trial. There will be a lot of inquiry into the way the company does business p are no one likes it when people look into the way you make salami. On the other hand, a lot of personal issues will come out about her life and distress caused by other things including her relationship with her husband and her motivations. Really, nobody wins. The cases is less about money and more about vindication and position in the industry and trying to not accept each others position. Most of the time, these cases do not make it this far. There is definitely bad blood. Quickly, one of the initial principles of the company stated they would return to their highest ethical standards here does that matter a lot . It was one of the first things that came out of the trial. Classes good being in the child and when you are brought to task good being in the trial or when you are brought to task regardless of the company, it will take a hit. It is probably a good spin at this point. Thank you so much. Bloombert west will be right back. The business of Business Travel. Partners with starbucks. Starbucks is the most commonly expense restaurant for the 27 million restaurant that do their expenses concur. They now offer reward points. The chief product officer joins me right now via skype. I answered my own question, but why starbucks . You have heard Howard Schultz the ceo of starbucks, referred to starbucks as your third place. It is not your home, your office, but your third place. Our data shows us that its absolutely true. We do about 10,000 transactions at the moment in business meals and business meetings alone. The same not really a starbucks guy, but that is not really for me. I want to backtrack and little bit and talk about what your Main Business is. Some people might know the trip it is this common interesting one, but the expense is this is fascinating. Absolutely. We are laser focused on the simple and perfect business trip. Every day, we get up and think about the way auto works in terms of Business Travel. Absolutely taking the effort out of expense reports. How business how big is the business ultimately . When you look at the core business, who buys it . Wesley c customers from the individual, using some thing like trip it all the way to the Largest Companies in the world to hundreds of thousands of employees. It is effectively anyone looking to take the pain out of travel, or looking to get a handle on expenses just trying to take some of the pain out of the process, or companies trying to manage that process and get more visibility, get it integrated into their payroll and erp systems, and really remove a lot of the paper and manual processing. We saw we talked about i was surprised with a hilarious comment, ripping your company and she said, concur is only a tiny module. S p spent all their money on it. I went down to my car and thought, s p bought concur and maybe tomorrow, they will buy very clean. Explain. Explain to me why concur is anything more than a module in software . What can get it to the point where it is a really big business . There is no disputing the fact that the travel industry itself is a multitrillion dollar industry. The great thing about Business Travel is like you and your viewership, the pain of taking business trips when things do not go well, when there are delays and connection issues ive got to cut it off there. Thank you very much. We will be right back. Hes out there. Theres a guy out there whose making a name for himself in a sport where your name and maybe a number are what define you. Somewhere in that pack is a driver that can intimidate the intimidator. A guy that can take the king 7 and make it 8. Heck. Maybe even 9. Make no mistake about it. Theyre out there. I guarantee it. Welcome to the Nascar Xfinity series. The big winner at the oscars last night was bird man. That and all of the best pitcher nominees were edited it edited using avid technologies. It is going through interesting business change. Joining me now is the avid ceo. Lewis, congratulations, although you are in a no lose position there. In spite of all of the advances of your competitors, you are holding onto market share with the biggest movies out there. Is there something about the technological change of your competitors where they are not getting something . Avid started by digitizing the filmmaking process. Now that the whole process is fully digitized avid has an advantage because we are anchored at the beginning. We tried to change with the times as the Business Model has changed, which is fairly significant. We stayed in the lead position as a result of staying along with it. Talk about how those movies were made differently than movies we would have seen five or 10 years ago. The Business Model first of all has changed dramatically. Not only how you create content today, but how you optimize and monetize it. It takes somebody like the grand budapest hotel, wonderful winners last night, West Anderson had to shoot that all over the world, primarily in london germany, and here in l. A. , using cloudbased collaboration for editing and distribution and marketing the content, management, really incredible technical compliments. That is one example. Bird man, i am here in mesko city the day after the oscars. They are so happy here. Think about the complexity of that movie. Hopefully you have seen it. It looks like one continuitys som but was shot over multiple tracts. They give it the illusion as though it was one story. That is the kind of thing happening with Media Technology today. Classless talk about the cloud and how that process is very different. What is happening right now as it is being shot . We know what a movie set looks like and what the directors look like shooting a stuff and in the stuff comes out of the camera angles off that camera in a digital format and then what happens to the content then . That is the interesting thing and is probably the most important change is moviemaking. What happens after, marking it tagging it, making it available to multiple Distribution Channels globally and evenly with multiple languages is how the Business Model has cha