No. It looked good. If there is a blizzard tomorrow morning, you know, were doing the show from out there. Good. Perfect. Three hours. Im bringing the same suitcase here. We can set up. Im surprised im sniffling and have this. They have nine hour flight into head winds. You have three straight days. We walk a mile outside to get to where were going to do an outdoor broadcast for three hours. And now were back. But well were ready to work. Well persevere. Were ready. We have everything set up and ready to go. Youre sneeszing already today. If youre traveling today. Look out more than 3200 flights have been cancelled even before the first snow flakes began to fall. I saw a few flurries this morning. Candidate is covering the story from new yorks La Guardia Airport. The situation on the ground . Reporter thats right. The winter storm were talking about expected to bring up to and over 2 feet of snow to select areas in the northeast. Were here at La Guardia Airport this morning. Things are pretty quiet. Most early flights havent been significantly delayed or cancelled. We note the bulk of the storm is expected to hit later today and this evening. Flight aware. Com is tracking the cancellation and delays in real time. Today already more than 1800 flights have already been cancelled. Tomorrow more than 1600 flights already forecast to be cancelled. Now for the individual carriers what theyre doing. Delta is refunding you if your flight has been delayed, significantly or cancelled to select cities in the Northeast Area. Theyre also waiving the change fee if youre traveling today or tomorrow. Other big names including united, southwest, jetblue, and American Airlines being flexible with travelers waiving the delay and cancellation fees. If youre traveling to select cities in the Northeast Area many asking you travel before january 30th. The Port Authority on sunday did send out a release saying they are fully equipped to handle travelers and help out people who get stuck in airplanes with cots and blanket and the Weather Channel this morning saying 28 Million People in the northeast under blizzard warning and additional 11 people under storm warnings. Thank you. We expect things will heat up a little bit later in the session and kate will be watching everything that is happening right there at the airport. This just happening. Rkt and mwv agreeing to merge in a deal that would create a combined company to be named prior to the closing. It will create i guess theyre talking about sales 16 billion company. 15. 7 billion combined net sales and adjusted 2. 9 billion. Under terms of the agreement unanimously approved by the board of both companies. Stockholders will receive. 78 shares of new co and rock will be entitled to receive one share of the new company on the cash amount in equal to the vying weight of the common stock during the five day trading period prior to when the deal closes. They get one share. This is basically rock tenn being acarekwarcquired for. 78 shares. And the two market caps are similar. Theyre saying equity 16 billion. Im wondering what the premium is or if there is a premium. What happened to my i dont have any quote up here anymore. We got i wish i could see rkt we decided there it is. Its up 1. 13 premarket. 2. 78 shares of mwv. You get stake in the new company whatever youve got going into this. Theyre looking to be a provider of packages. You wonder if the Online Shopping for it will give more online left. What is driving this is the synergy or likely the cuts that say amount to 300 million. To be achieved over three years. Well bring you more on that deal in a moment. Beyond the deal and the blizzard were talking about. There are other big stories on the watch list this morning. The top one greece as joe mentioned at the top of the show. The antius aausterity Party Winning. The leader opposed to measures part of the countrys international bailout and said he would try to renegotiate greeces debt agreement. Chris is going to join us from athens in just a minute on that. Its the front pages of every paper. Huge implications for europe germany, and elsewhere. The fed conveneing the first twoday meeting of 2015. Starts tomorrow. Other releases include durable goods, new home sales, pending home sales, and a first read on Fourth Quarter gdp. About half way through earning season at this point. Norfolk southern among the names to post before the bell. Well hear from microsoft this afternoon. Lets check on the markets this morning. Take a quick look at the futures after another rough session as we were winging our way back. Im so confused. Were going to california eventually and im, like you know trying to figure out what it is in the different places. As we were coming back that was on saturday. Hey, we were down. Were down another 79. Last week was the first week the markets ended up for the week since the year began. Yeah. But we this is going to be something that the market has to digest. I think it knew about what it was going to happen. I dont know what it means for that june or whenever the rate hike is expected. I saw, i think we have bruce cassman on later. I was reading not in our notes but he was interviewed in one of the newspaper. He said im not feeling real sure about my june forecast for a rate hike. Because how do you do i mean, these people over there are accepting negative Interest Rates just to get their money back over there. I read something from mark yesterday, too. He pointed out that rates in the United States have to come lower. You have to look at it as a global influence and the money from around the globe is going to be poring into u. S. Treasuries when you get a yield there versus a negative yeeltd on the other places. Hes saying he doesnt like u. S. Stocks at this point. I would like to talk to him. The big story, also in the weekend wall street journal the dollar has become problem. If we raise rates the dollar is strong. Were talking about party for the euro. If we raise rates the euro is stronger. The fed is in a box. Well see whether that could be gdp on friday as well. Well see whether it starts swinging away from raising rates to where they start questioning whether they come back and do some stuff again. The euro was at a 11year low versus the dollar. The dollar index at 11year high. Not just against the euro but a basket of currency. A lot will play over with what were asking today about whether grexit is a reality at this point. Michelle cabrera has been standing by watching those situations in greece. What has happened after the election there. And she joins us right now from athens. Obviously, michelle World Markets are watching what you have to say today. Yeah. Grexit stands for greek exit as a result of the election. Is the grexit possible . Yes. Consensus it is not probably. There is room in the negotiations. Ill explain in less than a minute. Its a squawk tradition i show the newspaper. This is a newspaper that supports the party that won last night. The headline is nike. Stands for victory. Theres 40yearold leader of the Party Celebration last night here as he took the mantle and began forming a government. He has been able to, even though he didnt get an outright majority. He won enough with a commanding lead its been easy to form a government. Hes expected to be sworn in this afternoon as prime minister, which is incredibly fast by greek standards. But winning may have been the easy part. The hard part comes now. Because he has promised that he is going to renegotiate the terms of the bailout for greece. And one of the first things he wants to do is he wants to do a lot of things that are supposedly proibt hinted by the bailout. He wants to raise he wants to eliminate property taxes. He wants to raise the minimum wage. He doesnt want to do any privatization. The bailout partners arent going to like that. But last night it was all about victory and celebration response far well see whether or not he can manage those things. Its one of the reasons the fact theyre probably going to come to some kind of show down at some point why we have seen some nervousness in the market. But at the same time he tried to calm International Markets behind the scenes. The economic advisers have been speaking to wall street and London Investment houses. I spoke with him late last week and asked him about what he would say to the United States after he won and what he would say to investors. For the United States the message for greece the next day will be a day of optimist of hope. I think that a victory of the people will be a strong message. Of progress. Should investors be frightened . No. Theres no inferior . No fear. So youve been talking about how yields in europe are so solo but take a look at greek yields here at this point. What weve seen is theyre off the high but theyre relatively higher. What is that telling us . There are concerns about a grexit. Theyre not as high as they used to be when we see the greek three year yielding 15 . Now its around 10 , 9 . Thats a big improvement. We we have to see how the negotiation goes. Guys, in march is when we really start to talk about when they might run out of other peoples money. Because of cash flow issues here in greece. Because remember theyre getting bail out money and paying it out at the same time. The they owe a lot of money. What month do they owe the money . June or july. Like 7 billion. They dont have it. If youre asking me a question, i cant hear. Somebody in the control room go ahead. I hear you no. Okay. They owe it. What month is it they owe i dont know a bunch of money. They need to borrow more money to pay back the money they owe. Which shows you how great the situation is. If he decides to change everything they wont be able to borrow and pay it back. It could be a short honeymoon. Right. Right. Exactly. So roughly three months. Its a peter paul situation. Robbing peter to pay paul is going on here when you look at the cash fly of the country. That being said i have to tell you some of the reasons why greek yields have come down is because there are rumors they wont confirm them to me theyre talking behind the scenes directly with the germans and whispering things in their ears that the germans like. Very specifically, after asking many many people we think its their promise to cram to stop tax evasion. To really clamp down on it and bring in more tax revenues. That means taxing the rich more because they dont want to tax the poor anymore. But tax evasion as we talked about has been an issue. The imf was not satisfied with how it went necessarily into the previous government. That may be something that helps them bridge the gap with their lenders at this point. Okay. All right. Michelle, we should be westbound i guess saddened maybe that a country has moved so far left. Its for something you know ive been waiting for this. I like to watch the world turn. What is wrong with me . It means the whole experiment that, you know, having all the Different Countries with its different than nebraska versus new york and not having the same currency. How do you have the same currency in greece the other places . It seems like an easy way to get around it and a way of making a shortcut. I think that bothered you. It was a shortcut way. Youre upset because i saw the right wingers tweeting over the weekend that talking about this person is happy that greece went communist. So for some reason i wanted these guys to win. I dont know why. Because of what you said. I dont want to watch the world burn. But it doesnt work. Do things right way and you dont have the proper fiscal. If youre not together as a government then how can you be together the german word it might be a little bit of that. Watching these if theres any lesson its the elite created the crazy thing without paying attention. The bureaucrat government. Elected tech carats in belgium and each countrys has their own way of looking at this and saying we dont look what youre doing. Covering the your asia group. I did not cry when i saw this happen. Im not sure why. Maybe we like to watch things happen because theyre interesting. I mean, this situation in greece is set to deteriorate significantly over the next three to four months. As youve been reporting with the government is essentially bankrupt. They have a 7 billion bond due to the ecb in july. They have to borrow more money in order pay it back. I think they want to pay it back. They want to benefit from qe. Thats only happening if the ecb gets paid back. The set process is going to have to come to terms with the political and financial reality. I think thats con to confront him and do that very quickly. Looking at, you know, the poor people. Thats the unfortunate thing about this. I dont know how you helped the actual average greek citizens because most of their assets are marked down 80 . Businesses they owned, things they owned, and yet they cant devalue the currency which would allow it to get into party with where they can start selling things outside greece again. It seems so impossible given they, you know, the constraints put on by the union that it almost is if they have to leave. They cant do it without devaluing well there are definitely a set of Macro Economic constraints that the government is confronted with. No fixed Exchange Rate. Fixed Monetary Policy set by the ecb, germany being the largest, lets say most significant determine factor. Fiscal policy subjective constraints. But the bizarre situation is the Economic Situation was actually theyre not doing that badly until around two months ago when the president ial elections sbrorp deuced and national elections. Over the last new months weve seen a lot of economic keydeor it your ration. Growth was picking up. They a primary surplice. Tax revenues were increasing. A lot has been upset as a result of political turbulence. Thats going impress itself upon syriza. Its going to require them to introduce more reform and austerity all though they remain opposed to that. We have to run. Did they have a positive quarter of gdp or did they just cut their losses . Theyve been in a recession for a long time. Did they finally break even or a slight positive gdp . I mean, i think probably at the margin positive but theres no doubt merkel is not going to be flexible. Hes going to have to do it. Its going to be difficult for this government. Going to be watching. As i said i guess maybe as news person im interested. I feel bad for the actual people. In five years unbelievable austerity. And longer i dont know if business has been created. Weve done some pieces a guy wanted a brewery. He was going to make it outside of athens. Impossible to do that. And at big thing is the lack of tax collection. You can tax a million things. If no one pays them. Nobody has a pool. You fly over it. I dont want to start trouble but we should have a conversation weve had the debate about austerity here and youre on the other side of the debate. No, i mean you heard what his answer is. A massive tryfect of government. Were not spending and spending money they dont have. And the germans are working their butts off seven days a week some of them. They look down there everybody is sunning themselves. The only way they can borrow the money is the promises from the ecb cheaper financing through lending. You cant give you cant get blood from a turnip. Austerity is not i get it. If you owe the bank a thousand dollars the bank owns you . The difference is if you owe the bank a Million Dollars you own the bank. Five years later the European Market is in a better shape. The germans has been setting themselves up if the greeks want to leave. If we owe china 100 billion then they own us. Well continue this conversation plus a lot more a live report from saudi arabia this morning where president obama will travel to pay respects to the late king abdullah. A multibillion dollar deal in the insurance industry. And a big day for bit coin. Getting the first license. Here is a look back at this day in history. President obama and the first lady will head to saudi arabia tomorrow. Were reporting on the same set last week but here we are good morning. Good morning, joe. Well, a couple of days or just about 24 hours u. S. President president obama will be arriving. It should come as no surprise theyll be discussing terror. The Islamic State, and certainly what is happening in yemen. The saudi arabia has an 1100 mile board we are yemen. Its mostly lyly pour lyly pore russ. The government is essentially being run by an iranian backed group. At this point you have problems in yemen. You have problems in iraq. The Islamic State taking parts that have country. Major worries for the saudis. Theyll certainly be interested to hear what the president has to say about that. And of course theyre attempting to patch up some difficult relationships. Yeah. A lot of conjecture over the weekend, hadley. The deputy not the next guy in line but the guy after him is someone that definitely the United States has worked with in the past. They can work with and shown a lot of stability. That would be the first grandson of the countrys founder. And hes educated in the u. S. Antiterrorist. Thats right. That has to be thought of as positive, i think, at least theres a stable transition taking place. Absolutely. And this was a gentleman who is running the interior ministry as well. Hes known for being a hard liner when it comes to islamists like the muslim brotherhood. Its a good thing for the United States. But you have to remember the Younger Generation as well. Most of them are educated in the u. S. They are very familiar with the west. They have lived in the west before. Certainly that helps them when it comes to making it a better relationship possibly than when these older generations try to get together and make things work. Exactly. All right. Hadley, we appreciate it. Thank you. Im sure well be checking back with you this week from time to time. A lot more news it seems more and more international. Okay. Corporate news this morning. Access capital and partner reemerging in a 11 bil