Crash victims planned a protest outside that meeting. Phil lebeau will join us from detroit at the top of the next hour. Im sure well get an opportunity to talk to him about what this is all about. Web hosting company go daddy filing for an ipo up to 100 million. It said 100. 100 million. I could help them with that if i owned the entire company. You could. You could. Thats an important word, million. Could have been priced at 100. Could have been 100 a share. Who knows half the time. Thats what makes it the job would get dull. Right. Just reading stuff without actually its almost like a puzzle, almost like a puzzle of what were trying to say. If it was just reading, none of us would be we dont want to do that. No word on which exchange godaddy intends to list on or the symbol it would adopt. Go daddy perhaps best known for one of our favorite guests on this program, future race car driver danica patrick. The company was founded in 1997, acquired in 2011, kkr and silver lake. They had a model, that was her there, they had one prior to that that i thought was one of your favorites. We had her as a guest and they had the famous ads. What does the guy say . Not just a member. Im president of the fan club. A clients or whatever. I use go daddy. What does it do . I use d it five or six years ago. Some of them were so racy, they got criticism. Yes, they did. Bathroom stalls, cleavage. This years were not as racy but pretty cool, too. Racy in a different way, danica. This year was not danica. She was last year. The previous year. This year i have no idea. The thing with the big weight lifters. Anyway, its a long story. We should tell you this morning, about a couple other things. The head of paypal is stepping down to join facebook. I wonder what this means . We saw john donahoe last week. David marcus has been running the ebay unit for two years. He will soon run messaging products for facebook. That could hint that they are using transactions. This was a highlevel poach. Mark zuckerberg got in with this. It must have something to do with monetization. They bought a company. Donahoe has talked in the past about how a lot of people, he buys in, entrepreneurs, he brings them in. This was a ceo of another company they thought about three years ago. Interesting from that perspective. One other piece of facebook news, that company accidentally releasing its snapchat competitor yesterday. The new photo and video sharing app called slingshot popped up yesterday afternoon but was then pulled down. The Company Spokesman says the app will be ready soon. Facebook tried to buy snapchat 3 billion last year. Have you been snapchating. No. As a parent im not a fan of it. I dont think its the type of thing its better than regular messaging. No. As a parent you cant track what your kids are sending back and forth. Its concerning. As kids get older you start to wonder what youre doing. Not at this age but at some age. I would prefer everything disappear that they do. So it doesnt i think it makes them think things disappear. They feel like they can send stuff. You want to make sure if you live in europe now you can erase your history. Its all okay. Theres a good theres a really good piece, i was going to send it to you, becky. Does it have to do with ger s s germs . No. Its a narrative piece. I wouldnt have liked if you sent that to me. Ill take a welcome at it anyway. Yes, take a look at it. If you look deeply, its a vision. Brett stephens. International game tech knowledges reportedly hired Morgan Stanley to explore a sale. This is a company i followed for so long. Its been rumored off and on to be for sale. The Company Makes slot machines. Reuters says that igt has been working on a sale for more than two months. Lets check on the markets, even if it goes up 20 points a day, in the dow, that continues to get us remember weve been over 16,000 a few times. Now it looks like we may finally get close to 17,000. Yesterday, the s p closed above 1950. 1951. But you can see today that were going to give back a little, at least on the open. Lets take a look at it is summer. Its the summer driving season. Oil, its been quiet but theres a new price for oil and its basically 100. Tenyear, maybe 2. 60 is sort of there. Theres an interesting chart in the journal on the front page. Any questions as to why this has gone down and down and down. We should have been watched what happened in spain. You can see whats happened in the tenyear happening globally. Instead of looking for answers, the entire globe, theres the tenyear spanish bond. So if spain comes from 4 to below us, why would we be going up . I dont know why these bond experts didnt figure that. All the economists didnt figure out maybe you should look at global Interest Rates. Lets look at the dollar. I need about 1. 20 to book a trip over there. You have a ways to wait. Were you robert frank source on these luxury safaris . I was not. Hes coming on. They are really pricey. Really pricey. That goes without saying. He didnt just interview you . He didnt just interview me. I sent it to some friends. I heard about it yesterday. I saw robert. Stop try ing ing t ing ting anything higher. Oh, yes. Werent you that close to animals . He werent on a moving safari. I dont like setting up or taking down camp. You dont have to do that, do you . Oh, no. You show up, they do the setting up and setting down. Yes. You were at a structure where you stayed. Yes. The elephants would come and drink in front of you. Didnt you see lions and tigers and bears . No bear. You saw lions and tigers . No tigers. Apparently 88 staffers for 18 people. 88 staffers for 18 people . Yes. Wow. Robert has much more details on this. Thats a ratio higher than your apartment. Our ratio is 73. 734 . This is how bad my math is. The dow which we were just talking about and the s p closed at alltime highs again yesterday. Fresh new record alltime highs. While the vix is now trading at precrisis, prefinancial crisis levels at 11, just dead in the water, joining us now to talk volatility is joe bell, senior Equity Analyst at schaeffers investment research. Who first said its too quiet . It is. Isnt this a time where you start wondering if something is brewing, joe, or not . Thats the question a lot of people are talking about whether this means theres complacency in the market. We look back historically when the vix first drops below 12, what does that mean . It its happened quite a bit, its generally a characteristic of the bull market. If you look at one month, three month and six months out, it generally doesnt trigger automatic higher volatility. It triggers lower than normal volatility versus anytime return. Even during the prefinancial crisis we dipped below 12, about 2 1 2 years ahead of the market top. Its a characteristic of the uptrend, not necessarily an automatic sell signal. At schaeffers, do you try to interpret why its happening . Or do you look at whats happening and trying to figure out where its going from here . I can make two cases. One is that the economic backdrop is kind of benign. Its almost kind of a goldilocks thing. Inflation, someone wrote a piece today that its higher than people think. Feldstein . Who wrote that . Yes, Marty Feldstein wrote one that it is above. Is it because its generally benign and a pretty Good Environment or is it what other people say, the fed is still here and they are masking the normal volatility from pumping so much money into the system . Yes. Thats definitely true. Weve been hearing that for quite some time as far as this being a fedfueled rally and things of that nature. When you talk about the volatility, even the 20day historical volatility on the s p 500, its below what the current implied volatility is. Participants are embratsing or expecting higher volatility than what weve had. One interesting thing on the vix call activity, we look at that a lot. Its become a popular hedge the past couple of years for hedge funds and institutions. That higher volatility generally happens during market declines. Weve seen about as five times as many calls on the puts for the past 20 days. Its becoming a more common theme for people to hedge and brace for the higher volatility which insulates the market, the potential downside. Theyre not going to do that panic selling if we get some sort of pullback. It creates a floor. I can see that when they make the case that someone like president goldman, that they cant trade now because theres no volatility. Citigroup will have a dropoff in trading volume. If the fed and central bankers around the world continue to keep Interest Rates artificially low, the money finds its way into Financial Assets and even if there would be something that would cause people to sell, they dont sell because theres nowhere else to go. Do you think that is part of whats happening here . Thats part of it. When you talk about the stock market, theres hundreds, thousands of different factors that go into what affects the market. Thats one key factor to look at. We look at expectations, how high or how low the bar is set for the market. You talk about rates and Interest Rates and bonds in the u. S. That goes right along with that. We saw polls where 95 of people expected higher rates than 2014. Its one example of if the masses believe one way, its often the opposite case, because they believe in one theme. Have you ever had a tom and chi . No, not yet but its becoming popular. I had never seen shank tank. Im watching it. Blake happened to see it and she says its like living the dream. Were watching reruns of shark tank. They put bacon on it, all kinds of stuff on it. That kevin oleary is that on a doughnut . No, its not just doughnuts. Its Grilled Cheese and tomato soup. I remember Grilled Cheese on a glazed doughnut. That was a specialty or something. Yes, hes in cincinnati. Thats where he started. You can get a franchise. Its interesting to watch that. Anyway, we watched this. I watched one period, until 9 00. If you couldnt win the first two games you were going to have trouble. They needed to win one of those. The Los Angeles Kings beat the rangers at Madison Square garden to take a 30 lead. And i dont know whether we have this one i mean, it looked like it was in the goal. The guys name is quick, jonathan quick. He wasnt even in front of it. He flailed and stuck his stick out. A ranger was in front and still couldnt put it in the net. They didnt put any in. Hes been amazing this guy, quick. Hes quick. He is. Stopping 32 shots for the shutout. The kings 30 in the best of seven series. Game four is wednesday night. Were Still Holding out hope. That would be the ultimate comeback is always pbl. You never know. How often has that happened . I dont know if its ever happened in almost any world series, anything that goes seven games, when youre down three, its rare for someone to come back. This should be an assignment. Well talk about hillarys book. We should read brett stephens, i like the idea that she still doesnt know if shes running. I just dont know whether im going to run. As opposed to jeb bush or Chris Christie or anybody else. Theyve all declared theyre in the race . No, theyre not on a book tour going from stop to stop to stop. It is a much bigger question if theyre going to run. This is ludicrous. I like it. I like the way they talk about the scripted nature. Well talk about miss hillary. When we come back, this mornings executive edge goes on Hillary Clintons hard choices book tour. Will they let babies and kids into first class . Thats andrews question. Choreographed reality. Coming up in the next half hour. There you go. Welcome back, everybody. Its time for the executive edge. We start with politics. Hillary clinton embarking on a book tour and a comment she made in and an interview last night getting a lot of buzz this morning. The chairman of the rnc tweeted how out of touch is Hillary Clinton when dead broke means mannings and huge speaking fees. Diane sawyer pressed her. She said, okay, it was funny, when we were trying to buy houses and trying to get mortgages. And someone said, but, correct me if im wrong, hillary, but 200,000 per speech, do you think people 5 million in speaking fees. 100 million is what they made. Hes worked so hard. Do you really think average americans, who make 40,000 or 50,000 a year, if you can make that for a twohour speech, do you think they can empathize with you. She did a great job trying to answer the question. I think they had millions of dollars in legal fees. Its hard for an average person to relate to any of that, including having millions of dollars of legal fees. Going into the white house, you have a lot of costs while youre there. If youre trying to maintain a household in washington, d. C. And back in your home district and pay to go back and forth a lot of those people do go into debt. That is true. When you come out the other side you have a chance to make a lot of money back because of the prestige. They might have had a few more legal fees than some of the other inhabitants that went into the white house. There were things going on. I have not seen the lewinsky stuff yet with diane sawyer. She probably has that totally down on how to handle that. She has benghazi down. Did you read the lewinsky piece in vanity fair . I did. What do you think of that . It was very well written. Bill maher feels bad . I think she had help with it. It was incredibly well written and it made me rethink some of the things i thought before. For benghazi she was saying, diane sawyer was pushing her on whether she wished she had done been more concerned with the safety of the embassy. She was saying, well, i put a lot of pressure on people who knew how to do things like that. They know how far away barriers have to be to prevent a saw cried bombin suicide bombing. I pressed them hard myself. She had a pretty good answer. You figure she would have. Thats why shes going on tour to put a lot of these things to rest ahead of a potential campaign. Exactly. We dont know. Potentially. Donald sterling is pulling his support from a deal to sell his l. A. Clippers to former microsoft ceo steve ballmer. Sterlings Attorney Says he will pursue a 1 billion lawsuit against the nba. We thought this was a done deal. Privately some suggested this is because the nba said it wouldnt reverse the lifetime ban or cut the fine if he went along with the sale. He thought that somehow if he sold the team hes not saying that now. This is what people are speculating. He wants to sell the team as long as he can go to the games . Hes saying the whole deal is off, forget about any of it. This was based on private recordings that were illegally made and used by the nba, so they shouldnt be able to take any of these steps. I think he wants to hold on to the team. Do we believe the tapes were illegally made . Those two deserve each other. V. Stiviano. Phil jackson, hes very tall and won a lot of championships. He hired derek fisher. Hopefully hell be a great coach. He was a great player, point guard put he doesnt have a lot of experience coaching. 5 million a year for five years. In your view, you think ceos may get overpaid. Because theres no real market. Dont you think they could have gotten some dude in here for 600,000 a year to coach . They could have but they couldnt have got phil jackson. No, not phil jackson, derek fisher. Yes. They could have gotten a lot of people why go right to 25 million whether you dont know if hes going to be any good or not . Do you think he would have taken the job for 600,000 . I dont know. Somebody else might have taken it. You could have gotten a good basketball coach. You dont know that. You dont know if you could get a good basketball coach for a million a year . Theres plenty of coaches around that would do it for a million a year. He wanted that one. Theres a market for that guy and then theres the market for the other dude. No one else was offering derek, necessarily, a job. How do we know . Maybe derek didnt want to work. You had to pay him a certain threshold. I think we should be happy when someone does well. I dont disagree with you at all. Even if ceos, the only thing i think that we should care about is the cronyism issue that youve discussed, putting that on you now. Good. I like it because i think youre right. I think hes said that the crone did i boards, that has largely been dealt with. I dont know if thats true or not. Would you serve on a board . Youre on boards for charities. If i wasnt a journalist, yes. Youre on a charity board. I was on the board of Robert Wood Johnson university hospital. I stepped down when i had kyle. That was the only board i served on. No ones asked me. A Public Company board . Were not allow eed to serven corporate boards. Thats good because thats why i dont do it. Because im in demand. Lets talk about one more story, a private u. S. Cybersecurity unit is accusing a unit of chinas military of hacking. The firm says that the chinese unit conducted farreaching hacking operations. The Security Company suggests the shanghai based unit has attacked networks of western Government Agencies and defense contractors since 2007 and, guys, this was sophisticated. They would send out something that looked like it was an ad to go to a yoga studio in france or something. It was a glossy looking thing. If you clicked on it, they could get in and steal your secrets. Dont click on stuff if you know who its coming from and may look a little weird. The nigerians have stopped emailing me. Thats not a real offer . No, sorry. Youll be waiting a long time for that to come through. The nigerian guy is not youre not going to get a call back. Thats 100 times what the average is that 100 times . 50,000 thats how much hillary was making speaking. Ten times 50,000 is 500,000. So the guy, his starting salary is 100 times the average salary. Im proud of him. Good for his family. Its good for his family. I agree. I celebrated whenever anyone does well. I dont really feel like you reciprocate there. More to talk about when we come back. Well get back to the markets on a recordbreaking streak as the dow marches toward 17,000, well check out some stocks to watch in the next half hour, including a banking join the that could have room to run. Take a look at yesterdays winners and losers as we head to a break feeling hot hot hot did you know a tensecond test could help your business avoid hours of delay caused by slow internet from the phone company . Thats enough time to record a memo. Idea for sales giveaway. Return a call. Sign a contra