The market chatter is building around economic releases that come later this year, adp tomorrow. Theres a key ecb meeting on thursday and the big nonfarm payroll report on friday. There is new data suggesting the individual investor may not be actively participating in the markets. Maybe theyre not making a lot. E trade is reporting that its customered averaged 14 fewer trades than in april. Pimcos total return fund suffered its 13th straight month of outflows. The Worlds Largest bond fund posted 4. 3 billion in net outflows in may. The fund was up by 1. 25 in may and that beat 79 of its peers. Andrew, ill send it over to you. Thank you, becky. Corporate news this morning, pill pillgrims pride. Last week tyson offered 50 a share for hillshire. Well see where that all ends up. Hillshire at 58, up a little over 8 in the premarket. Apple says it will allow Software Developers to include Virtual Currency transactions in their applications. The announcement may pave the way for new forms of money to appear on iphones and 50i6789 pads. If you take a look at bitcoin, man is that spiking on that news. Also speaking of apple, the Company Holding its Worldwide Developers conference in california this week. New operating systems and a move into the health space and the home. Apple revealing whats calling its health kit which lets various users use Health Apps Share data. Home kit is zuned to make the iphone a Remote Control for a connected home. This allows this to communicate with the scale, to communicate with all these Different Things coming into one device. I will tell you, i know you dont think the folks in cupertino care about what i have to say. I do want to thank tim cook. I watched this thing live, streaming. Im satisfied. I thought whatever they came up with next is not going to be enou enough. Whats going on. I can get rid of the keyboard. They have all these other keyboa keyboards. Api . Is that an Oil Indicator . So now youll be able to ill have a much better keyboard experience. Some of the application stuff, some of the notification stuff, its finally on its way to being 10,000 times better, comparable to all the stuff thats in the android that i like but with a better interface on iphone. This is a huge thing for me. I sat there with a smile on my face for two hours. You did not watch for two hours. I did. I was upset about how long it was. Thats the intersection of what i know about android and apple. This is where you earn your you know this. That looks dirty. It does. I dont know what that is. I dont know what that is. I thought you were saying he listened to tim cook and he convinced you about the beats deal. No, he did convince me that i wanted the next iphone. As long as the screen is bigger he won the game yesterday. In cupertino, theyre setting up there are balloons, confetti is coming down. I did have somebody going on a Corporate Board yell at me across the room, hey, guess what, im going on such and such board. But you already know all about that. You talk about it every day. We have a good audience, an audience anyone would envoy. French government weighing in now on this bnp story, that bank paying a 10 billion plus fine to the united states. Frances foreign minister says this country will defend the interests of the bank, calling the penalty unreasonable. Bnp has been investigating with authorities who are investigating whether the European Bank evoded u. S. Sanctions. This story is from a corporate comprehend sags p compensation perspective is good for me. Lets say they pay him 1. 5 million. He said no, please, dont do that stuff. Would that have been worth saving the 10 billion or would it have still been the wrong move . 1. 5, no one deserves to make that. Do you know . If you had gotten a better ceo why is that ridiculous . Because the point is its illegal. Theyre transferring money to sudan. What if they had a ceo that was more in tune with what was happening and a better corporate ethically . You mean not ethically challenged . You dont think theres a ceo around who would have avoided this problem by not doing business with sudan. Not because of how much theyre being paid. Thats a world compass thing. You dont think any ceo ever earns their pay. They make hundreds of decisions a day. Your argument is that he was such a dope hes clever. He was an idiot because he wasnt paid enough. Youre penny wise and pound foolish. You are over there wringing your hands about how much youre paying your ceo. You just lost 10 billion because youre dealing with countries that have sanctions. The government has gotten involved. That will help. Theyre making at pale saying why are you coming after them. Youre suggested they couldnt find a talented ceo that would have caught this . My argument is that ceos can be really good and really good at managing risk and running a company, really good at protecting shareholder value and good at protecting customers of the institution. I think ceos can make a difference and make their way. Can i say this . As everyone knows i am a huge fan of jamie dimon. Everybody dont know that. Ive said it on the set many, many, many times. Youve written articles that are totally wrong about him. Jamie dimon who i think is one of the greatest managers of a bank lost 23 billion. That was a shakedown. Thats different. Hold on. If you read the papers in france, they are calling this a shakedown. One mans shakedown is another mans legitimate fine. Exactly. There are people in the u. S. , i disagree with it because i thought some of this was a shakedown, too, in the u. S. You and your friends would be the first to argue. Even though jamie dimon was paid a lot, he still couldnt avoid the 23 billion. I believe in this particular case the opposite isnt true. You are in the same position of arguing. You guys are exactly. Pay your ceo. Get a decent ceo in there and maybe you wont be paying 10 billion. It may not matter whether you have a good ceo. It may or may not. You cant say whether it would. It might have mattered if they had a guy in there more talented who was maybe this guy was, you know, hes french. Maybe he was taking vacations in portugal. Maybe he had no idea what was happening in the sudan. Im making a Million Dollars a year. Why shouldnt i go to portugal . Next thing you know i dont think that was the case. I do know. This happened first of all in the new york office. I think there are no controls. Exactly. There were other issues. What was the guy doing in paris with the people he hired here . Not overseeing them at all . Clearly he was an untalented dope. Exactly. They couldnt get talent. They couldnt attract a better person because they couldnt afford one. You think thats impossible . I think this is about morality and ethics. Bull shih tzu. Wow. Remember aig, people said theres no way for 400,000 a year im going to be able to keep people here . Thats correct. Dont you think if they would have paid more we would have recouped more than we recouped . You need the guys for lehman to be able to go back. The journalist envy people with corporate ceos. I have zero envy. Oh, please. The entire new york times. Why every quarter do you out these guys in the top 50 for how much money they make . Its total journalism. As does every other newspaper in the country. No, they dont. You dont see that in the wall street journal. You saw it on squawk box. They stand up, tells us who made the most money. Right. Reading right from the new york times. By the way, there was another story that theyll have us skip through. Pay for senior bankers rising 10 to an average 13 million. U. S. Banks they say handed out much more generous packages than anywhere counterparts in europe. We should not have just done that story, clearly. Every quarter, you out each ceo. You dont even mention like its up 30 . Jamie dimon is up 30 . After he was down 8 million or whatever. You dont even mention it at that point. Look, there is journalist envy. What i dont understand is, if youre so envious, go work in the gold room of goldman sachs. Go do it, become a ceo. At least this is a country where you can still go do that. Why would i want to do that . Why are you asking many he to do that . Youre making your money in other ways. You certainly do enjoy it and you certainly do enjoy the benefits of your highly paid compensation. Lets go. A key primary in mississippi today with plenty of mudslinging. Tea Party Candidate state senator Chris Mcdaniel in the middle of it all is john harwood. Is john harwood, who i just heard an echo. Who is joining us. Is that a mississippi thing or you forgot the tie . What happened . Hey, you know, were out in the field here. Its casual. And by the way, joe, im happy to rescue guys you guys from that argument still going on. I guarantee you there was no viewer who could follow that back and forth between you guys. Thanks, john, like one of your reports, i guess. Notice hes on a delay. Andrew is going to go to the mail room and make 20 million in five years . I look forward to that. Theres journalist envy about ceo pay, john. Most journalists do not think theres any way that a ceo can actually they have no problem with a lefty with a fastball, they have no problem with Sandra Bullock making 30 million a yer but they dont think theres a corporate manager with 100,000 employees, shareholders, all these responsibilities, they dont think theres a guy who can make 100 decisions a day where 90 of them turn out to be the right decision. Andrew doesnt think theres a bnp paribas ceo which journalist, andrew and becky . No. Im talking about gretchen morg morganson, the entire staff at the new york times. Oh, geez louise. Is gretchen on the show this morning . No. No. She couldnt be here today. Shes working on the next overpaid corporate ceo story. Oh, man, please. Save us. John, what are you here to talk about this morning . Go ahead, john. Im here to talk about mississippi and the republican attempt to try to retake the senate. I just want to take a little bit with the assistance of color coded maps, what the keys are to Democrats Holding or losing the senate. Republicans need to pick six to go from 45 to 51 in the senate. Theyve got plenty of opportunities on the democratic side. If you look at these blue states where democrats now hold the seats, youve got incumbents in north carolina, in arkansas, in alaska, louisiana. Democratic incumbents who are in changer. You have open seats in places like iowa and michigan where republicans have a chance. Iowa also has a primary today. But it only work the math only works for republicans to make those gains if they get six of those seats if they hold their own home turf, that is to say seats they already hold in republican states. There are three of those where there is some question. One is in georgia. One is in kentucky. Both of those have already had primaries and picked the most competitive candidates although in georgia theres still a runoff. In kentucky, Mitch Mcconnell survived, which is what the Party Establishment wanted. Here in mississippi today is the last of those pieces to fall into place. You have a primary betweened that cochran, he was elected in 1978. Hes hes an appropriator. Hes being challenged by a young state senator in a nasty race who is arguing thatted that cochran works too much with democrats, too accommodating with the other side, too enmeshed with the culture in washington. He wants to change that. The race has been spiced by allegations that supporters of Chris Mcdaniel, the tea party challenger, broke into a nursing home and snapped pictures offed that cochrans wife who is ill, has been for some time. That has produced charges against some allies, felony charges, against allies of Chris Mcdaniel. There is worry among republicans that iffed that cochran is upset today, which could happen. Its a very close race, democrats could have a chance of carrying this state, mississippi, as conservative as it is, and that would make the path to republicans taking over the senate that much longer. All right. That was not one of the great moments in american its not even politics, i guess. When you sneak into an old age home. 10 billion. Do you know how many million that is . Do you know how to do the math . 10 billion . Yes. Meaning 10,000 million . There you go. 10,000. You could have hired 10,000 ceos. And maybe found one good one that would have been able to maybe save you. Although somebody points out a 10 billion fine, gm fined 35 million after admitting it intentionally failed to fix it doesnt seem joe . Yes, john. Do you know how much members of congress get paid. Not much. 135. They get paid about 160,000. Do you think wed have better government if we paid them more money . Thats compensation inflation there. Thats way overpaid. You have a point there. Every quarter they should do a piece on that. I do. How come these guys like harry reid have pretty nice houses and stuff, dont they . If we paid them, joe, if we paid them a Million Dollars apiece, would we get better government . Not for just a million, no. Who goes into politics, john . Public service. People who want to do good. Like at the end of whenever we have that final, the two cancers, its like we always look at each other and go, arent there like 300 Million People in this country . This is really this is our choice and its because people dont you have to have i dont know. I think you have to have a screw loose to want to do that. Obviously youve got to pay them more. That might help. That might help. Its just market forces, john. If Sandra Bullock in gravity she didnt make 30 million. In gravity she made 70 million. Dont forget arod . The list goes on and on and on. But they dont want to talk about that side of things. Like i go to washington, get a rash. You go to mississippi, you get a rash down there. Thats why theres no tie. John, thank you, good morning. When we come back, everybody, well talk about bitcoin a little bit more. Youve heard about all the ways it could be used. Plus, seattle decides to hike the minimum wage to 15 an hour but it wont happen overnight. Well have those stories coming up in this mornings executive edge. More squawk in just a moment. Welcome back, everybody. Its time for the executive edge. A Business Group immediately announced plans to sue to try to prevent the increase from going into effect. Businesses with fewer than 500 workers have to raise wages to 15 over the next seven years, larger businesses have to meet that level within three or four years. Gentlemen . Businesses are suing. Well see what happens. Thats a long lead time to do that over seven years. They placated some of the people that are worried about it. When a city does it, i think its kind of a petri dish, lets watch and see what has. The people that say its going to cause people at the low end, jobs to dry up. The simple math you do for a company, lets say youre a Small Business and you are just barely making a certain amount of money. You can hire ten employs at 15 an hour or 20 employees at 8 an hour. It just seems if youre barely making it, if you do the math, it could hurt the number of jobs. My worry is whatever happens in seattle to the extent its successful may not be applicable elsewhere. Why would you think it will be successful. Seattle is high cost of living there. I dont have a problem with municipalities doing Something Like this. They can try it. Well see. If businesses dont like it, they can move fairly easy across city lines. Seattle is a thriving city, though. I worry about the Home Health Care workers, the people that need Home Health Care if it suddenly is at a point where, you know, medicare cant it just you dont know what the effects are going to be as youre doing something that obviously is well intentioned. We heard about income inequality and everything else. You just hope you dont end up hurting the people youre trying to help. It will be an interesting 15 is a pretty big number. Isnt is 15 at seatac, the seattle Tacoma Airport . In switzerland it was voted down. It was 25, i think. What you do in seattle, you cant do in detroit. Or mississippi or Something Like that. If the Huffington Post is watching, they should write an article that a million is not enough. If a million is not enough for a ceo but 15 is too much. There you go. Good tieing together the a block to the b block. If they are. In case you werent paying attention, theres the line. Lets talk about another sto story. Bitcoin could be changing divorce proceedings. Lawyers are warning that the electronic currency could be used by divorcing spouses to hide assets from estranged partners. Bitcoin accounts are hard to link to an individual. Spouses in a divorce fight could transfer currency quickly and almost anonymously between online wallets. You were talking about it this morning. Why . On the new iphone the apple. You can use different virtual currencies. Its going to be a huge boone, probably i assume to bitcoin if not others. Is it just an app. Its built into the the way the operating system is. Theyll have different currencies and because youre going to are able to use your thumb print is actually another thing. Before it was just on i have the new iphone 5. My thumb print never works. It doesnt work yet at least on my phone. Now it will work for all sorts of purchases. If youre amazon and you can link to it, you dont have to do a password. Its something with womens fingers. Ive talked to a lot of other women who have tried the same thing. Once in a great while it will allow me in. She probably didnt set it up properly. Its cold fingers. Shes been on the cold fingers thing for a while. I can hear you guys. I have a safe and its never not worked. You have a safe . A fingerprint safe. Youre hot blooded, no problems. Ill touch you with my fingers right now. Theyre cold. Thats why it doesnt work. Check it and see, i have a temperature of 103. Come on baby dont you wanna dance with me, andrew . Hot blooded. Coming up, its a busy week. Did i get the shih tzu in quick enough when i said the i dont know. It was like a delay of like a second. Enough for a you