That is the guy he interviewed yesterday with the baby, right . Thats andrews face. Thats andrews face and gal gallaphanakass too bad its not hangover 2. Andrew was they have it. Yes, you are that predictable. Im not going to try anything. Who did that . Rob . Who was it . Thats really bad. He did it. Who came up with all that . Who knew he was going to go there . That really was not that is no, but in reality, andrew is hes a very good employee. He just is. And hes very diligent and you know hell be there, hell be prepared. And i have no tsh even in vegas. Even if he did have some fun, he would make sure that he was did happen lets get a check on the markets this morning. Asian markets down sharply overnight. The nikkei down 2. 5 . A lot of worries about chinas growth. There is another number coming tomorrow and people are concerned ahead of that number. You can see the nikkei was down by more than 2. 5 . The hang seng was off by more than 1. 6 . The mining and metals stocks, if you were watching at any of these things, mining and metal sectors took a big hit. Copper prices tumbled 5 . There are some indices that measure that measure different sectors and some of those are actually looking at this point to be near bear market territory. The chinas enterprise index, sank to an eightmonth low. Its now down 19 from a december 2nd high. Emerging markets overall, the stocks fell to onemonth lows on this. Currencies weakened. Take a look at whats happening in europe. The cac is down by more than 1. 1 . The ftse is down by 0. 8 . And the dax in germany off by just over 1 . Here in the United States, all of these concerns are adding up to a little bit of concern. Red arrows, but no massive declines at this point. Dow futures are down, but only by about 27 points. S p futures are off by about 4 points below fair value. Shams of gm fell more than 5 yesterday. That is its worst oneday performance in over two years. Of course, theres a report saying that the u. S. Attorneys office in new york now is opened a criminal probe of the company and its handling of the ignition switch recall. Prosecutors are reportedly examining if gm is criminally liable to properly disclose the problems with the ignition switches. Gm sells cnbc it does not comment on ongoing investigations. And tesla not getting any loving. New jersey, this is something we talked about yesterday, and that is the Dealer Network versus direct sales. A new Jersey Motor Vehicle Commission has voted to ban the direct sale of automobiles like tesla in the garden state, forcing tesla to use dealers, instead. This vote makes new jersey the third state after arizona and texas that will not allow tesla to sell its vehicles directly to customers. This is not fair. This is not fair at all. I mean, what makes this not a dealership that you cant come in here and get an oil change . I dont think so. Its a dealership. Thats the Business Model. Competition ensures that theres a vertical monopoly in the sales process. And it restricts consumer access to very valuable and very important Public Safety considerations. Mainly warranty and Public Safety is there a commission called automotive realtors . I dont know. I cant believe we would mess that up instead of retailers. One of these states is not like the other one of these states just doesnt belong arizona, texas, new jersey . What its weird. We dont understand what goes on with these. Dealers are entrenched. We talked about that yesterday. We got some mail in for people that made a good case for not having dealers, that its all about money and lobbying and forcing them to have dealers . Thats not a free market, either. They talk about getting up the look, and a lot of it is local politics. Tesla is reportedly going to stop selling cars in new jersey. I lashed out against governor chris christie. 230. Down about 4. Its probably a current nasdaq listing. The Prime Minister of ukraine is meeting with president obama today at the white house. Theyll be talking about the intense situation in crimea as well as u. S. And International Support for ukraine. I thought that was the guy that no, we were saying he looked like the bitcoin guy, hes not really the bitcoin invent inventor. Did you see the New York Times did a story yesterday, they called every im worried. Whats the guys name again . Nakamoto, they called every one of them in japan. And there are a lot of them. The point was by looking at that last name, the surname, is the 468th popular name which makes it the equivalent of brian here in the United States. So there are a lot of these guys out there. But newsweek had more than just the name, didnt they . Theyve spoken with him and at the time where he spoke with her, he said i am no longer involved with that. Acknowledging that he had been at one point. She had used m. I. T. s language nas sis experts to say this was the guy. But the New York Times yesterday made a point of its a fairley common name, particularly in japan. But you would think for newsweek, you would want to be sure. Werent they almost gone a couple of times . This is the first print edition thats back on the stands for newsweek, too. Missed it by im surprised we havent heard more definistly. We are. We asked her to join us on monday, but her schedule was too full. President obama in new york city late yesterday, but before leaving for home, he stopped at the gap and had a chance to talk about raising the minimum wage. I want to congratulate the gap for doing the right thing. I think that anybody who is out there shopping should be supporting Companies Like costco and the gap and others doing right by their employees. And these Companies Understand ultimately its going to be good for their business because it means greater loyalty from their employees, less turnover, greater productivity and also longterm more customers. So congratulations to gap and i am very pleased with my i think hes right. And finally, its good to see him come around and let Companies Set their own minimum wages with the market, allow look at competitors, look at whats going on and pay more, pay whats necessary to get these. Thankfully, hopefully hes withdrawing the government control of wages and prices and i commend him on that. Did you see the is that not what hes doing . Well talk to harwood about this, but there is an article here saying obama seeks all these things are good. To require overtime pay for managers, loan officers, computer technicians and others who are currently classified as white collar executive. Its nice to agree with him that companies that are able to do this and are in a position to do it are complying. Thats good. Although hes approval rating, now were going to go to john harwood. Depending on where you sit, you either loved it or hated that zach gallaphanakis thing. I will tell you one thing, we have sent you have interviewed the president. We havent on squawk box. And we have sent people that we know that have been to some of the events at the white house have actually gotten a message to him directly that we want him to come on. He said, no, i wouldnt have any reason to come on. That just bothers me a little that he has time to do zach gallaphanakus, but wont come on here and talk about what we just talked about, minimum wage and its all on your shoulders, john harwood. Do you think youre in the same business as zach gallafanakus . You think youre in the the president is in the sales business. It sells better in a serious setting than one where they ask you about north ikea and ask you about i dont know, john, i think it would be better spent here than with zach gallaphanakas. I see some saying a record and others well below estimates early on. Its the way everybody looks at a glass, isnt it . Half empty or half full. We had a special election in florida yesterday in a district that had been well held by republicans. Democrats had been hoping to carry it and the republican won the special election. A lot of money poured into that. People were trying to look at special elections as signs of the fall. I think this, the special election is less good of a sign of the fall than our poll is. Why does the president have a low job approval . When the ask americans how the economy is doing, 57 in recession. There are some advantages have, which is that theyre less unpopular. Democrats are under water, 35 , 38 , slightly more people have a negative view of them. But the Republican Party is viewed negatively by a 2 1 margin. If you look at factors affecting the election, you can look at some of the things that how is it 2 1 . 27 favorable, 45 unfacial. I thought 27 times two is 54. Its in the ballpark. All right. If you take the 45 and turn it into 5 4, its 2 1. Okay. Go ahead. If you look at the things affecting the vote in the fall, what will make you more likely or less likely to understand the dblt, you can understand the budget deal recently struck to declare a truce of the budget cars. First of all, the thick that makes people most likely to support a candidate is one who can work across member party lines. Secondly, youve got people who can bring home federal dollars to their district. And then you talk about the federal minimum wage, we were talking about the time story and the broadening of overtime, 58 of the people say theyre for raising the minimum wage. Now, theyre also things that candidates need to stay away from, some of which are good for republicans. The most unpopular of all the issues that we tested in what would turn you away from the candidate, cutting medicare and Social Security and balance the budget deficit. Thats why theres no grand bargain. But you also look at people if youre a solid supporter of the Obama Administration, a strong plurallty says that would make me less likely to support that candidate and that tells us about the landscape that were looking at, especially since so many of the senate races that will decide whether or not democrats or republicans are going to control the senate are being held in red states that mitt romney carried. Alex fink has been on the show. And i remember it was a while ago. She held some Government Office and she was the cfo. She was the statewide governor in 2010. Before that. She was the chief financial officer. We talked to her about back then she didnt want to do any drilling, no matter how far offshore. And we were just making the point that a lot of people dont fly to florida, they drive to florida. And you want the tourists to come in, but you dont want any domestic of production of oil and gas. And then she had no idea the point were making, i just remember not being that he narrowly lost. Yeah, i know, three points or something. But im not what part of florida was it . Was there a reason to think she should have had a really good chance . The part that i used to work in and cover at the st. Petersburg times thats not like where gore was trying to harvest his wind, thats not down in no, but its a scenario thats become more democratic. It used to be the oldest district in the state. Old midwesterners, conservatives who had gone down to florida. But theyve got a Baseball Team now. The city has had a lot of economic development. Its gotten somewhat younger and more democratic. And so obama carried the district twice and the fact that democrats werent able to win was a disappointment to them. You know were having dan gilbert and Warren Buffett on about the bracketology and everything. And i know youre emotional about duke, but that loss to wake forest, but then the North Carolina who are they . How do we know who is going to show up . I dont know the answer to that story, joe. So many teams are up and down with the exception of the florida gators. Im more into this. Im excited about these tournaments right now, starting today. What sort of seed is cincinnati going to get . They should be two or three, dont you think . Sure. I think they should be two or three. They almost beat louisville. It was one second left, he threw in and the last time they played, louisville was four or five right now, right . Two or three depending how will we should do in the tournament. Oh, youre talking about seat. Im talking about in the oh, yeah, in the top five. Well see how these teams are playing right now and in march. Especially since weve got all these new ringer teams in the acc, bigger and more successful. I dont know how far im going to take them. They look like theyre getting worse. You can put 150 is that our office poll . Dan gilbert at quicken loans is putting up the money to buy the insurance that buffett is providing. Marissa mayer and dan gilbert are the ones putting up the money. No way. No way. Ill write the insurance on that. Great. All right. You know what . The hollywood liberal connection is one thats really heart warming. Thats one thing we can always count on, no doubt in my mind. And the actors are so clued in about how many things. It would ex asperate. Anyway, let me turn it over to bocky squawk. See you later, john. See ya. Were going to be talking to andrew in las vegas. When we come back, were going to have the executive edge. Andrew, as we mentioned, checking in from sin city. Is he having a hangover moment in morning . Were going to find out in just a little bit. Is it that andrew this morning . Or how about this . Were going to see him in half appear hour. We cant wait so his what he shows up with. Where in the United States does the home depot do the most business . Sweet us. Hdfunfacts. Squawk box will be right back. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. More confusion surrounding the flights mh370. Sri now has more details for us. Thanks, becky. Im going to try my best to clarify what i learned from the last hour or so at this chaotic press conference yet again. There was a lot of information and a lot of jargon, quite frankly. But lets try this. The air force chief said that there was a possibility of a turn back. Meaning that flight mh370 we have very well deviated from its course. It could wsh theyre couching it in those terms. And he went on to say that a deviation or a turnback in Industry Parliament remains a possibility until these trails, if you will, these plots are scrutinized by the faa, the ntsb, and also the radar manufacturer. So in my mind, that isnt really going to be the next stage of this inquiry. All those three organizations are here in malaysia on top of that. We also heard that the british air accident investigation will be advising and helping with the inquiry as will be rollsroyce, the makers of the engine that are in the 777. The air force did tell us the primary military radar last made known contact with the flight at 2 15 local time last saturday. And it was northwest 200 nautical miles, i should say, northwest of an eye last just west of malaysia. Really, the bottom lean is they still havent found the plane. They havent found any trace of it. And the efforts are continuing both in the waters off the West Malaysia and in east in the waters of eastern malaysia, as well. Its worth bearing in mind theres a strong u. S. Presence here, as well, becky and joe. There are two destroyers helping with the search. The pinkeny and the uss theyre scrutinizing the waters off the coast of malaysia towards the western segment, as well. It really is scant consolation for those families to wait in perpetual agony. Sri has been following this story from the fwining and he will continue to bring us update ps. You dont know what to believe. You know, all the if there are conspiracy theories about everything, and there are, 9 11, think of the one you could design for this. You cant rule out anything at this point. Is that true about the cell phones, that theyre not totally i wouldnt bet money on just about any of that. They dont even know if theres closure in terms theyre probably still hoping against hope that it was diverted in miami or something, yeah. We will continue to get updates as information comes in. Right now its time for the executive edge. Right now, ackman says herbalife has said the Company Makes recruits paying an entry fee. He says the company is disguising sales to distributor as hourly sales for consulting fees. Herbalife says it follows local laws and the presentation reflects ackmans failure to fundamentally understand herbalifes Business Model. Chinese regulators have yet to comment on the matter. Im sure hes trying to understand the Business Model. Chinese laws have specific rules and regulations against pyramid schemes. I read that and i was thinking chinese laws about a lot of things you you know, im not sure that the disclosure in Regulatory Environment is up to par, but what do i know . Yeah, thats what they keep saying. That they have strict laws about pyramid sales. Hes saying theyre calling them consulting fees. They purchase their products for selfconsumption. 3,000 nutrition clups clubs. I dont know. How are the stocks on the s p . There are thousands. No, a famous anchor once said that. But there are over 500 stocks but only 500 companies. Right. Thats the new way that the s p 500 is going to be dealing with google and its tending stock slip where its about to become two classes of stock on the indexes. It says it will keep both of those classes in, which will make it 501 stocks in the s p 500. But as you mentioned, its only 500 companies that they were they were going to do it differently, but now they it means they were going to kick somebody out . No. They were going to take only one google class, but they decided theyre going to keep both of them. Its a trick question. When we come back this morning, were going to set andrew loose on the vegas strip. Oh, wait, thats him. Did you just see him . Yeah. Think of a dog with two tales. That works even better than bill clinton. Thats andrew. Yeah, it is. We didnt make this up this time. Thats his normal car. He may have driven out there. Wow. Anyway, andrew is in vegas. He is getting ready for home depots ceo, frank blake. Thats coming up at 7 00 eastern time.