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That is ahead on bloomberg west. Apple design guru jony ive has a numeral is the first chief design officer. A new role. Ive mostly shaping the look and feel of apples products and take on current design products new ideas. Ive has two deputies will be taking up the day today managerial duties but what are the implications of this unprecedented move . Joining me is a man who has helped google and twitter come up with design strategies. Thank you so much for joining us all of you. The first time i heard of a chief design officer, not necessarily a common thing to do. I want to start with you wh...

Contingency required to cover the additional risk. I just want to make sure you heard you correctly you said only covering 65 percent with our current budgeted these are things that may happen or may not happen so we run an analysis to get the probability of how much of the list budget we think might need to be used. So you dont think well have enough money . Thats not what im saying. So actually were 65 percent confident that the remaining contingency will cover the remaining construction risk in the program. Thats not very comforting that you are 65 percent confidence id like to hear that yo...

Risk profile has diminished and 65 percent would be an appropriate level for where we stand today. Certainly it is a policy call and so as the policy component of our organization if you would like us to revisit that 65 percent we would certainly be willing to do that but this is what we believe to be the best but if theres concern over 65 percent and a desire to go with a higher contingency profile certainly we would do that. I think i want to add i want to thank commissioner torres i think the conversation is valuable and then your response about whether or not we want to take a long hard lo...

65 percent would be an appropriate level for where we stand today. Certainly it is a policy call and so as the policy component of our organization if you would like us to revisit that 65 percent we would certainly be willing to do that but this is what we believe to be the best but if theres concern over 65 percent and a desire to go with a higher contingency profile certainly we would do that. I think i want to add i want to thank commissioner torres i think the conversation is valuable and then your response about whether or not we want to take a long hard look at that policy but i want to ...

[laughter]. And you also dont want to tell your contractor that just in case you have another hundred thousand tucked away in in a corner. So to cover a hundred percent of it we think would be inappropriate but we also think 50 percent is too low, 65 seems appropriate. Before you start again so the will of the body is we want a short memorandum and once we receive that memorandum well discuss whether we want to revisit or change or delete or leave it as is is that our will . I dont think its a Commission Policy more a policy as it relates to industry type of practice when you are doing a progr...