Else to selling prices being lower. The reason for that is selling condos on 65th street that had a much higher selling price so it makes that case stronger going into the spring selling season. You got a final trade while were at it . I could. Tyc, tyco. There were rumors there would be a buyout here. I think it comes sooner rather than later. All right. Berkshire hathaway within i bought it. Looking for a hundred dollars. We got it, now can get 105. This is up with of the places of value in healthcare. I like it. Pete . Under the radar, pharmaceutical, im looking at glaxo. Follow me on twitter. Power starts now. The second half of your trading day begins now. Good afternoon, everybody. New challenge to j. P. Morgan ceo jamie dimon. Coming from several major investors who want an independent chairman. Do they have a chance of replacing him as chairman of that company . We have the woman behind that push. And, suze says. Suze orman will join us today. On the docket, the state of the Housing Market. Are you bet are off buying or renting right now. Well talk about rollover iras, save willing for your kids college debt. Taking sense to more americans about money than anyone else in this country. Suze orman with us all hour today. All that tech money outwest. What are they doing with it . Those tech billionaires, have a new way to change the world. They have a big announcement coming up this hour, and well take it. Michelle is in for sue with the ny s. E. And we will get downtown in a moment but we want to sh t start, michelle, with investment firms and jamie dimon. They want an independent board chairman. Powerhouse up 31 in the past six months. Kayla tausche has the bumping up the jie and on the board. One executive usually it serves in the role. Dimon says this is due to inadequate oversight with the london whale trade. This is new york city pension plans. Holds about 820 million over just less than 1 in jpm shares. New York City Comptroller john liu says, j. P. Morgan would be unable to instill confidence. As lead independent director, meeting with the board with jamie dimon on certain matters. They are neither for or against splitting. It depends on the companys leadership at the time. Since proposals are just proposals, they dont create real need for the company to address them. It was on jpo morgans proks proxy last year. They saw 41 of shareholders support it. Gmi ratings says what that number did is signal no confidence saying quote if 30 of your customers were unhappy, would you take that seriously. Normally splitting the role is best for j. P. Morgan quote is now believed to generate more profit than any bank in the world. Im not sure how much an independent share person can. It is not sure what is believed best for them at this point. Lets go to michelle at nyse. Well talk with lisa lindsay, from the american federal state and municipal em employers. Outline this wp what is the mission . We think that j. P. Morgan is such a large financial institution. It has demonstrated an inability to control risk. As evidenced not only by the lond london whale, but the moneylaundering, cease and desist order. And we need someone looking out for us a on the board and running the board. Reduce risk, is what you are saying. Thats right. The fact that j. P. Morgan compared to nearly every other bank out there during financial crisis, that doesnt outweigh all of those things that you mentioned . That doesnt give you any belief . Jamie dimons ability to manage risk in the middle after cries snis. No. This isnt just about one person. We dont think that any person should be should hold these two roles. Look, we need to start we need to stop treating our bankers like pop stars. If Lindsay Lohan has a melt down in her limo, no one suffers. If jamie dimon loses 6 billion or j. P. Morgan and other billing banks drive our economy off after cliff again, well all pay the price. I guess would he argue he is one of the people this who wasnt driving the economy off the cliff at one of the worst moments so maybe he deserves more credit. Let me ask you, they have a lead director. Youre not satisfied with that . No. None of the shareholders are in the board room. And jamie dimon is the chair. He sit at the head of the table, i would think, or whatever the chair sits. He is running that meeting. You know, jamie dimon is in charge of the board setting his compensation. When you argue with Goldman Sachs about the issue, they bow to pressure from your organization and put in a lead director and you seem satisfied with that at the time. So why isnt that satisfied by j. P. Morgan . We were satisfied as an interim measure and we need the large Financial Institutions that wrecked our economy to do better. Are you going to continue with j. P. Morgan or there are other Share Holders who have taken up that mantle this year. Do you have any empirical evidence that a bank is safer with a different ceo and chairman. Separate chairman ceo is standard practice. It is only in the United States where that is not the norm. I would say there are bank fail urts all over the world that weve seen, where they had separate chairman and ceos. Okay. Also, sonys bank failure have shown in part it was due to corporate governens. That the only thing we can control at this point. Lisa, thank you so much. She is with ask me. While jamie dimon was given rock star status on wall street, Brian Moynihan was told he was not the job np. Why in in 2008, bank of america stock value went down. Now, 73 pay increase to 12. 1 million. Michelle, thank you. The market is taking a slight breather but we have big runs for the bull this year. Dow up almost 7 so far in 2013. Alltime high. S p almost almost 7 percent in year. Closeding in an alltime high there. Then, theres nasdaq. Now sitting at 12year high. But new data shows theres still some value there. Seema mody exploring it all in times square. We crossed an entire hurdle, a key psychological level for traders and not to mention a 12year high for nasdaq. From a technical perspective, maximum group says a close above this level would confirm a breakout in technology shares. Citi analyst says valuations will help tech as a sector outperform in 2013. In addition, citi says semi equipment records are down year over year and chip group tends to trade up when new capacity additions slow. Chips have been on the tear. Philadelphia Semi Conductor index outperforming ind ind sees. Inteal, klatencor, qualcomm to name a few. Some say this could continue to lift the nasdaq higher. Thank you, seema, very much. Power pitch strad straight ahead. And a woman with her finger on the pulse of the Great American economy. There she is. Suze orman. She needs no introduction but we introduced her anyway. We are talking your house with suze. [ engine turns over ] [ male announcer ] we created the luxury crossover and kept turning the page, writing the next chapter for the rx and lexus. This is the pursuit of perfection. Diane lives in bethesda, maryland. Hey, diana. Thats right, michelle. Housing is down month to month in january missing expectations bay lot but driven by the always volatile multifamily sector. Single family rose just under 1 but up 20 since july 2008. Multifamily is down month to month but still up 35 from a year ago and Building Permits beat expectations up nearly 2 frers december and 35 on the year. But this as Mortgage Rates continue to rise. The 30year fix now stands at 3. 78 and that is a sevenmonth high. All of this on a still shaky housing recovery which is not looking forward to the possibility of big cuts under sequestering. That is not only the ability to make new loans and finance mortgages but to sell the foreclosures it has. It could hit anybody trying to get a mortgage, if they lose a job or temporary furlough. We have more of this on the blog. Diana, if you can hang out there in a cold weather, i want you to join in the conversation now with suze orman, of course the host of the suze orman show. Author, speaker, on tour and all about a good egg. She will talk a little bit about housing. Lets talk first about whether you think the Housing Market has gotten a little ahead of it self. Are people overly enthused . Yeah. I think people are way overly enthused, tyler. You see Interest Rates go up. Oh, my god, if i dont get in now, i will miss the 2 1 2 . So they are trying to buy, even though in my opinion, they cant afford it. We have danger. When people start acting irrationally. We have irrational things that happen after that. As diana said go ahead, jump in. Suze, i just want it ask because it is such a rare opportunity, but what do you think there are so few houses on the market right now. A lot of folks say if there is so little out there then maybe i should sell now and i can get the higher price. You see prices going up but is that real m your mind. I dont think so. You know this anybody than anybody. I listen to you all the time. Why are houses going up . They are going up for the wrong reasons. Because Interest Rates have been low. And because investor have been buying. You want houses to go up because the job mark set stable. People are making money so they are lie bying a house. Economy is good. Thats not what is happening here. So people need to be careful. If you are going to sell a house, dont sell a house because now is the time to sell the house. You think this is the you sell a house because you have to sell the house. Every time is a good time to sell the house if you can get a buyer to bite house when you dont need that house or want that house any more. Lets talk about who should buy and who should rent in this economy today. Because weve had this article of faith and Public Policy to support the notion that everybody virtually should own their own home. I dont think you agree with that. I sure dont. You own your own home when you can afford to do so. Here is the problem. Your rent is 1,000 a month. Now you have a mortgage payment. 1,000. They go oh, i can afford that. 1,000 rent. 1,000 mortgage. Wrong. It is mortgage payment, property taxes, property insurance pb possibly pmi if youre not putting 20 down and maintenance. You need to add 40 to your mortgage so thats 1400 a month and thats probably what it will cost to you buy a home per month. But it is not just that tyler. It is, is your job stable . Do you have 20 to put down . Can you afford a 15 or 30year fixed Rate Mortgage and do you have an eightmonth Emergency Fund besides the 20 to put down . If all that is true, okay. You can buy if it is not, you better continue. Diana, i used to have a rule of 300. Anything that went wrong in my house was 300. That was a long time ago. Today is a 1,000. You better be able to take care of that. Those expenses, because they happen. I think renters who never owned a home are very unrealistic what it really costs to own a home. Not only do you have to buy a home but when you buy a home, there are closing costs. You have to pay to move in. Then you want your house to look good because it is a brand new house so you go out and by new furniture. Before you know it, youre in debt. Make sure that your job is secure. Even if its not secure, you can end up in trouble. Diana, you get the last question for suze. Suze, we are seeing a big trend. Down sizing baby boomers, who have seen at housing crash and what it has done to their parents, moving toward the multifamily apartment sector and into Single Family rentals because they dont want the hassle of homeownership and because they are afraid of what the economy holds. We are seeing it across that generation and it is what is fuelling the multifamily housing starts. And big surge in rent prices. Even as rent rates go up we are still seeing that demand on the rental side which doesnt bode well for homeownership and demand. We will leave it there and have more for suze. We will talk about retirement, college debt and the rising gasoline prices. Suze, thanks for being us. Any time, ty. Check out the suze orman show, of course. Cnn and fox news, the suze orman show beat their ratings last week. What else is new. Letss go to market flash wih josh lipton. I spoke with a few analyst who covered the company, they dont know why we had this jump. No news. They do point out there are spikes like this before with chatter around sales and take out but no news to pin this on. Wendys enjoying a jump on solid volume. Back to you guys. Thank you very much, josh. Next scrambling for vc money on television. Coming up, power pitch. Startups, give us their 60second pitch. My name is jonathan cedar. We give you inside into the fastpaced world of venture capital. What exactly are you selling to . Do they have what it takes . Are you in or out on biolife. Stay tuned to find out. [ male announcer ] to hold a patent that has changed the modern world. Would define you as an innovator. To hold more than one patent of this caliber. Would define you as a true leader. To hold over 80,000. Well that would make you. The creators of the 2013 mercedesbenz eclass. Quite possibly the most advanced luxury sedan ever. See your authorized mercedesbenz dealer for exceptional offers through mercedesbenz financial services. Im Tyler Mathisen and this is the power pitch. Startup founders get 60 seconds and not a second more to make their pitch. Then our panel of experts get a chance to react to their business and provide insight into the fastpaced world of venture capital. Jonathan cedar is cofounder of biolife. A Product Design engineer who left his consulting job in 2009 to join his design for the solutions of real world problems. Here is his pitch. Hi, my name is jonathan cedar. Im ceo of biolife, a Company Making green. Half of the country cooks on smoky fires leading to 2 million premature deaths this year. Twice as many people that die from malaria. Same families lack access to electricity but own cell phones and spend substantial portions of their income keeping them charge. We have the biolife home stove. Product generates electricity from the waste heat of the fire and with that it is able to deliver 90 reduction in mobile phones and led lights. We create the biolife camp stove which is for use by u. S. And european Emergency Preparedness and recreation customers. Over the next five years we will bring Clean Cooking an electricity access to over 1 million homes. Jonathan is on the right side of your screen. He cannot react to our critiques just yet. Diana, real estate reporter, John Steinburg president and coo of buzz feed. More executive than resident at polaris ventures and googles teams. Folks, lets huddle up. Injury reaction, diane. Im interested in how he will bring it to the u. S. Market in the u. S. When we talk about either men i preparedness and moving things we do in the home outside the home. During sandy in Washington Square park jonathan had these set up charging peoples phones. Thats when i saw it. It was in the times. What does it cost to actually make this thing . Jonathan cedars with us now. Come on in. I see you brought your stove. You are now officially with your stove appropriately enough in what we call the hot seat. We will ask you a few questions here and you get to answer and respond to our families. Jonathan, why dont you ask. I want to understand, what the connection between the cook stove and home stove . Is there a cross subsidies . How does that impact the margin . We are not like toms shoes. It is very different. The camp stove is an accessible market with longterm capital into the emerging markets where over the long run we see a very profitable business but we know itll take us a longer time and more capital to get there. Diana . When exactly are you selling to . How are you going to market there . Are you looking at governments or organization to go to these countries . We are manufacturer and wholesaler. We work with retailers in those markets who understand their community. Who have a proven model of distribution for energy and energyrelated product in their markets. Our stoves sell for about the same price as a cell phone in those market. We believe that is accessible what will you sell this little di device in cam stores to get started. This is 130 in u. S. Markets. For sale at biolight stove. Com and will be out at rei and other retailers in the spring. We target a retail price for 40 for the home stove which is different than the camp stove. It is larger an made for cooking for families of five to eight which is the typical size of a family, say in india. How many campers out there can buy this . How do you get it to them . It was about recreation, then after sandy we saw there is Emergency Preparedness market and wanting a lowcost on demand solution for what we need it. The camping market is actually a minority share of what we believe we can do in developing markets. All right, folks. Now the moment. Truth. You heard what jonathan had to say. John, are you in or out o on biolight . It is innovative. I think the camping market makes a lot of sense. I think it is priced right, and a lot of great marketing. Im in. Diana . So many people are thinking about Emergency Preparedness, because of sandy, even going back it katrina. You just have to go into a Hardware Store the day before the storm and you know, people are getting ready more and more. And third world implications are huge. Im in. Me too. It cooks, walks the dog. I like it. Im in for that. Thanks you for joining us. And to our panel, diana and john, that is the power pitch. Three yeses. How about you . We want to hear from you. Are you in or out on biolite. Cast a vote and let us know if you are interested or not. Michelle . Cool little stove there, tyler. All right, after the break. Suze orman is back on the agenda. Sky high gas prices and her unique take on where they will take a bite out of the economy. Also coming up, their plan to change the world, think nobel prize. Were coming right back. Great, everybody made it. We all work remotely so this is a big deal, our first full Team Gathering i wanted to call on a few people. Ashley, ashley marshall. Here. Since were often all on the move, ashley suggested we use fedex office to ho