Noted therces have u. S. Has taken a standoffish approach in terms of the interarab squabble that has emerged between qatar and saudi arabia. We should also note the at the administration, including Jared Kushner, have maintained close personal ties with the saudis and last night the emir of qatar meeting with top Business Leaders in washington, d. C. Along with President Trump. The situation has been fascinating to watch the geopolitics and personalities as the global geopolitical chess game continues and again iran lurking evermore loudly in the background. David as i noticed from the guest list, we had banks will representative with both citigroup and bank of america ceo attending the dinner. Thanks to Kevin Cirilli from the white house. Lets go to the other end of pennsylvania avenue to sahil kapur and talk about the president ial race on the democratic side. One more and one less. Sahil thats right. Just in the span of 24 hours, californiall, the congressman dropped out of the president ial race, the first immigrant contender to do so. This morning we have new entrant, billionaire financier tom steyer who is best known for activism for Climate Change and the drive to impeach President Trump. He is now added to the long list of democratic president ial contenders. David go over to the public inside. We have someone who will challenge Mitch Mcconnell for his seat in kentucky. What is that about . Mcgrath, sahil amy the Fighter Pilot, the veteran, has decided she will challenge Mitch Mcconnell who is the leader of his conference and the Senate Majority leader for his seat when he is up for reelection in kentucky. He is held at sea for over a long time and is very strong in that state. He is not popular but he has that state pretty well wired which is how he has been able to survive many reelections. It will be a tough battle for the democrat, but democrats are happy with the candidate they have. They do not think they can do much better. David why did they think she can win . Didnt she lose a race for the house last november . Sahil that is exactly right. She lost a race for the house in a district that is more friendly to democrats than the state of kentucky overall. Uphill battlet an this is for democrats in a state as red as kentucky. Democrats believe Mitch Mcconnell is vulnerable. He is not loved by his own side, that he is widely respected by many republicans. They wanted a candidate, they wanted the best recruit they could get. As far as the democratic sources ive talked to, they cannot do better than amy mcgrath. David thank you for reporting from capitol hill. Therego to london where is not an uphill battle for Boris Johnson. Where are we in this process . I thought it was supposed to be over. This is a postal ballot of the 165,000 conservative grassroots members. Many have already started to send back there ballot papers but we will not get the final result until the week of the 22nd of july. There is debate tonight, Boris Johnson and jeremy hunt go headtohead. Hunt has been saying that the timing for the debate is not ideal because some people have already voted. A reminder about what conservatives want. Most polls so they are in flavor of brexit and one paul show their in favor of a no deal brexit. That is why Boris Johnson is the front runner. Yes consolidated a strong lead over jeremy hunt. He has said he will take the u. K. Out of the eu with or without a deal on october 31. It is not just bores johnson in favor brexit. It appears the president of the United States is in favor, and Boris Johnson embraced the president. Do people in england say they like Boris Johnson better because he is close to President Trump . Emma that is an interesting question. The way trump has tweeted about not just the ambassador but about theresa may. That is a bit of a minefield. Johnson has built his campaign on opposing Theresa Mays Brexit plan. He resigned a year ago from her cabinet because he set her brexit plan amounted to surrender. Interesting that among the storm, it is controversial the way trump has late into the ambassador and also the prime minister. He chose to take the safe route which is to say i also criticized Theresa Mays Brexit plan. He chose the least controversial piece of trumps comments. David the week of the 22nd it will all be over, finally. Now it is time for a check on the markets with mr chandra with emma chandra. Emma we are looking at a mixed picture in the u. S. The down s p 500 in the red. He s p 500 just in the red we are off the lows of the session but still down on the day. The nasdaq rising. 3 . We are looking at materials, the worst performer within the s p 500, down about 1 today. We are seeing commodities tumble. If we switch up the board, we are a lot of chemical names for the day. Basf. Down and of course, basf the big german chemical giant. They were out with a warning saying they were reducing their guidance on the backs of the u. S. China trade war. That is still unresolved. That is what we are seeing the u. S. Based chemical giant fall into the red. I have a nice chart for you. I want to be on the show you if we took another step back, take a look at the s p 500. This is the daily move for the s p 500 over the course of this year. There are three red bars falling down. That means we are on pace for our thirddown day, precipitated by the better expected jobs report on friday and ahead of fed chairman jay powells testimony to congress this week. We are looking at the s p 500 getting close into the grade. It will depend on whether we see a rally that takes us into the green. Movers within the recent Public Company spaces. Uber, bothlyft and rising today as barclays say they could be a pickup in fundamentals. This is new pricing this as new pricing models and initiatives take hold. Downlooking at chewy, 3. 7 . That is the pet product retailer that went public a few weeks ago. A lot of analysts weighing in. Five buys and seven holds. Analysts saying they like the companys scale, but perhaps it is falling in the stock reflecting caution over valuation. 2 on reports there is a flaw in the app that could allow some websites to take over users webcams. David thank you so much. While she was giving us the Market Report we saw the emir of qatar right at the white house. If there is news coming up, we will bring it to you. Coming up, fed chair powell is headed to capitol hill tomorrow. Well talk with one of those in front of whom he will be appearing, senator cramer of north dakota. This is bloomberg. David this is balance of power on bloomberg television. We turn to Mark Crumpton for first word news. Mark texas billionaire ross perot has died. He was a Business Leader who took president ial politics by storm, running for the white house as a thirdparty candidate in 1992 and 1996. He won almost 19 of the popular vote in 1992. In business, perot sold the First Company he founded to General Motors and the second one to dell. He was 89 years old. Of qatar has arrived at the white house. President trump says they will discuss issues like defense, purchases, and trade. Already met with Steve Mnuchin and several Business Leaders at a dinner last night. President conway says trump has not spoken to are seeing accused sex trafficker Jeffrey Immelt dean intended 15 years. The president told me he has not talked to epstein in 10 or 15 years. Else, he sees these charges as unconscionable and obviously criminal. Disgusting. Mark the president s ties to epstein have come under scrutiny because of 2002 new York Magazine story where mr. Trump described epstein as an terrific guy. Tom steyer has changed his mind. He will run for the democratic president ial nomination after all. Earlier this year he said he would not be running. In a video released today, he said the country would not be wele to move forward until end the hostile corporate takeover of our democracy. Global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. David . David jay powell appears before the House Banking Committee tomorrow followed by the senate on thursday. We welcome one of those will be asking the questions on the senate side, republican senator kevin cramer coming to us from capitol hill. Thank you for being with us. Sen. Cramer my pleasure. David lets talk about what you hope to hear from jay powell on thursday and about Interest Rates. The president has been fairly outspoken saying he thinks Interest Rates are too high. We will put up a chart we use it bloomberg to indicate where the markets are. It says the markets think there is a 25 point basis cut coming down the pipe soon. What do you think the right answer to where Interest Rate should be is . Sen. Cramer i think the right answer should be an inch should be an explanation of why. Chairman powell and the fed have a very difficult task. While they are people of opinions, they are independent. The president has one view and obviously the street has a view. Everybody likes cheap money. If you like to have cheaper money in the growing economy, it makes me wonder how much more we could cut it if we need to cut rates. We are in between right now. What im most interested in hearing from the chairman is the rationale for the situation, not a crystal ball necessarily. The United States is 20 of the Global Economy, which means we are a big piece of it but there is a percent other than us. Interested in his perspective on the Global Economy and how that would factor into a possible need for a cut. David you make an interesting and important point, which is that of the economy is not growing as fast as it is with Interest Rates at a historically low level, how concerned should we be about the role central banks, not just the United States but around the world, specifically the fed, is playing in the economy. We seem to have become dependent on the fed. Sen. Cramer you now that. That has been my concern for a long time. I am more interested in whether we will sell more soybeans to china and whether we will finish up usmca, a meritbased immigration system that provides the Workforce Demand it in our glowing economy to me that opportunity. I am way more interested in how we put more people to work and create more things in the United States. Those fundamental issues are where i tend to hang out. That many people look at the stock markets and then they look at monetary policy. I understand the importance of those things, but sustainability of our economy is built on these other things, not monetary policy, especially when money is as cheap as it is and has been for so long. David people being able to make decisions and know where we are headed. I will put another chart up, the l a line indicating there is some increased uncertainty in the fed, but the uncertainty in trade is off the charts. It indicates markets and businesses are much more uncertain about our trade policy than monetary policy. What can we do to bring some certainty so companies can invest . Sen. Cramer right on point. The first thing we can do is get to the usmca and ratify that. Mexico is taking the lead and has already done that. We know discussions are taking place in canada. We know can no would like to do things more in sync with United States as we move forward, but that ball is in the hands of the speaker of the house and she has her hands full. I do not defend nancy pelosi, but she has a difficult job. She has an important responsibility and we have to get that across the finish line, the sooner the better, then you will see the optimism come back. I think you will see your line become more optimistic. Some of the other deals good news yesterday out of the usda that chinas soybean purchases are way down, soybean purchases , small grain up purchases are up across the globe. Corn purchases by mexico and japan across the globe are up. We need that big newsbreak and i think china is skewed to that. David for the people of north dakota, there is a lot of imports and exports with canada, referring to the usmca is a successor to nafta. I understand is it it is in the democratic court, but is there anything you can do to bring them along . They have concerns about enforcement. Are there areas where you can help them so they can get to yes . Sen. Cramer that is a great question. The problem with the tpa authority the president negotiated the bill with there is not a lot of room for changing the deal. You have to look at what are the things we can do as a country. I think enforcement has always been the problem with nafta and most of our trade deals. It is not so much the mechanism as how the United States uses that mechanism. Many times because we are the ones who like the free market, we can not to enforce as much as other countries or impose enforcement mechanisms. I think that is legitimate concern. To the degree we can help them with that, i would like to be able to do that. I share some of the concern over how the pharmaceutical issue was treated in the u. S. And yet. If theres some way we can be more in sync with canada and mexico rather than forcing them to be more in sync with us with regard to protections for the pharmaceutical side, i think that would be a major breakthrough. Few republicans encourage that, maybe that would be the type of breakthrough we need. That theee you democrats and their constituents are better off than fully ratified usmca as it has then not do it. We have to help them understand the reality of the situation is we gave the administration this authority through tpa, that means we get a straight up or down vote. We do not get to renegotiate it. To the degree we can we ought to be about it. David weve been discussing this on the merits. We do have an election in 2020. Is time wasting to get this resolved before we get into the election or is already too late . Sen. Cramer i do not think it is already too late. I will tell you democrats want to avoid President Trump having a good deal, the sooner the better. There is another incentive we can help them better understand. You do not want them to have a victory, lets give him a victory as far away from reelection as possible. There is plenty of incentives for democrats politically to get usmca done because it is a better deal for labor, a better deal for Small Business manufacturing, all of the states have some relationship with one or both of these countries. They should have plenty of political incentive to do the right thing. David finally, i want to ask you about one other issue, the labor secretary. President trump has just been discussing saying he supports the labor secretary. As a senator, what is the role of congress to look at malfeasance or misfeasance of people who have been confirmed for a cabinet position after the completion of the confirmation hearings and you find out something happened that should not have happened . Sen. Cramer i do not know, constitutionally or traditionally, what that role has been. Consent has already been granted is frankly, secretary acosta doing a great job as the secretary of labor. That said, the president himself has said he is looking into it. They will look into what happened in florida and whether this was a bad plea deal he arranged or agreed to or not and whether or not that would have an impact. Obviously, the circumstances in front of us are so awful, i do not think you can describe them in harsh enough terms to describe what he has been accused of and the description of it. , the ball is now in the president s hands. David thank you so much. Senator kevin cramer, republican of north dakota. Breaking news from President Trumps meeting with the emir of qatar. He says that entered a deal with qatar where they will be purchasing boeing planes. He says iran has been doing a lot of bad things and should be careful. There is also news coming out of mexico. The finance minister has resigned. The new finance minister in mexico. We will continue to bring you headlines out of the meeting between President Trump and the emir of qatar. Live from new york, this is bloomberg. David you are watching balance of power. Marriott is our stock of the hour, falling as much as 2. 5 as the Company Faces a fine by u. K. Regulators because of the downgrade from jpmorgan. Emma chandra is your the story. Emma the fine is from the u. K. Regulators, 124 million for a breach that exposed 100 million guest records, 7 million in the u. K. The cyberattack happened in 2014 and impacted starwood hotels, which marriott did not acquire until 2016, but the u. K. Regulator blaming marriott for lack of due diligence. David part of the reason they bought it for the data. What are the downgrades in the sector . Emma i have a chart that shows how marriott and hilton have performed on the year. They have been on a huge care, outperforming the s p 500. They both have taken a tumble over the last couple of days after jpmorgan, beaver we had the news on marriott downgrading the stock, saying theres not much further for the stocks to run and saying he is concerned about revenue per room and also about Industry Trends which may tell us something concerning about the consumer economy. David thanks a much for that report on the hotel sector. 1. 4 , goingdown down faster than i can get it out. We will keep watching mexico. Live from new york, this is bloomberg. Going to the oval office where we are here and from President Trump and the emir of qatar. We very much appreciate it. We will be signing a document today, a large transaction. You will be invited to the signing, a transaction that will be purchasing a lot of blowing jets, and a lot of money spent jets,r country boeing and a lot of money spent in our country. We have a great military operation in qatar. They built one of the best military bases, i would say, anywhere in the world. It has been a great honor to work with my friend. Thank you for being here. Mr. President , im very happy and honored to be here. Thank you for the hospitality. We enjoy a very great relationship between cutter and the United States of america. We are doing a lot together. Qatar and the United States of america. We are signing documents today and our Economic Partnership has been more than 185 billion and we are planning to double this number. We trust the economy here. We are doing more on infrastructure and we plan to do more. We are working very close together. You are invited to come and see qatar and the base any time, mr. President. I enjoy the personal friendship with you, thank you. I will say, the base is incredible. What they have done their is absolutely and a great place to have it, in the middle of the middle east so obviously an important location. Thank you all very much. Of Jared Kushner and other members of your administration . I dont know anything about that. [inaudible] we will see what iran is doing. They are doing a lot of bad things right now and should be careful. [indiscernible] acosta ecretary what i made the deal to bring him into the administration, i can tell you, for two and a half years, he has been an excellent secretary of labor. Part of it is our economy is so good, unemployment numbers are at record lows. So many good things are happening. The fact is he has been a very good secretary of labor. What happened 12 or 15 years ago with what happened when he was an attorney, i think in miami, if you go back and look at everybody elses decisions, whether a u. S. Attorney, a judge , you go back 12 or 15 years ago and look at their past decisions, i would think that you would maybe find a wish they didnt another way. I do hear there were a lot of people involved in that decision, not just him. I can only say this from what i know. I know that he has been a really great secretary of labor. The rest of it will have to look at we will have to look at it closely. You are talking about a long time ago. Think,a decision made, i not by him, but a lot of people. We will be looking at that very carefully. Anybody else . [indiscernible] i knew him like everybody in palm beach new him. He was a fixture in palm beach. I had a falling out with him a long time ago. I dont think ive spoken to him for 15 years. I was not a fan. Fan of his. Then i can tell you. Forel very badly, actually, secretary acosta. I have known him as being somebody that works so hard and does a good job. I feel very badly about that situation. We will be looking at that very closely. We will also be signing a big contract in a little while, so we will see you in a little while in a different room, a different part of the white house where we will be signing the big deal with boeing. See you in a couple of minutes. [indiscernible] press, lets go we have been listening to President Trump with the emir of qatar speaking in the oval office. They say they have a big deal to sell boeing aircraft to cutter. Qatar. To also regarding the plea deal with secretary acosta and Jeffrey Epstein, he says that he has been a great secretary of labor. Also distancing himself from mr. Epstein, he knew him like everybody else did in palm beach, and had a falling out with him 15 years ago. Turning to mexico, the finance minister has resigned. You can see with the peso is doing, down one and one third percent. Of mexico, lawmakers return to capitol hill to face a legislative calendar and limited time. The white house wants to get its new nafta deal ratified by democrats want improvements before they bring it up for a vote. The president and ceo of the Detroit Regional Chamber of commerce. Great to have you with us, sandy. Give us perspective on just how important usmca is for the state michigan. Give us a sense of how critical this is for southeastern michigan. The statefive jobs in of michigan are tied to trade. Mexico and canada are both our largest trading partners. Trade with canada and mexico is up close to 200 since nafta was inaugurated under the clinton administration. So we are completely dependent on trade here. It is not just the auto industry. We also have one of the most diverse agriculture communities in the country. David at the same time, it appears it is the democrats in the house that are the barrier, not republicans. To what extent are the democratic politicians from michigan paying attention to this and willing to go along with usmca . Have turned a little more positive on the chances of usmca passing. You are absolutely right, the republicans are behind the president on this. We just did an event with Vice President pence, so the administration is starting to pull out the stops to put some muscle behind usmca. The democrats for multiple reasons a lot of political opposition to the president from the Democratic Caucus, also some labor concern. Although when labor looks at amca, they will see it as huge improvement over the existing nafta agreement. A lot more north american increaseequirements, in pay for hour. These are all things that the unions should like. David the question is if they do like it. Ohio, played a Critical Role in the election of donald trump as president in 2016. Give us a sense from the person on the street and Business Leadership how they feel about President Trump. Has he delivered on the promises he made to the men and women of michigan . Sandy it depends on who you ask. I am probably the last person to ask. I still have a jeb bush sticker on my car, which shows you how accurate my production was on who would be the president. There are communities in michigan that are still strongly supporting President Trump. The Business Leadership as a whole i would say is relatively agnostic. They appreciate the tax cuts, obviously, the approach on regulation. They are very concerned about the trade and tariff approach the president is taking. They are very concerned about the criticism of the fed, also concerned about the chaotic feel and nature of the white house and washington these days. David we have a long way to go until november 2020. At this point, are there any candidates on the democratic side of the Business Leadership in michigan is saying, they have Something Interesting to say, i want to hear more about that . Sandy the Business Community would certainly appreciate i would not say support but certainly would appreciate a mainstream democratic candidate. Somebody like joe biden, senator bennett, governor hickenlooper, somebody who can speak to the Business Community. Obviously, a lot of democrats would concern the Business Community. Senator warren, harris. That could scare away a lot of potential business and mainstream former republicans who maybe did not vote for trump but016, maybe they did, they are unhappy with the president now. They are looking for a lifeboat, but that is probably not somebody like elizabeth warren. David thank you for joining us, sandy. Hope that you can join us as the year progresses. Hasng up, Speaker Pelosi her hands full wrangling the left wing of her caucus while dealing with a ticking clock like the debt ceiling. We speak to joe crowley next. This is bloomberg. David you are watching balance of power. Im david westin. Joe crowley served his home district for 10 years before becoming chair of the House Democratic caucus. He joins us today from washington. Welcome back. Joe great to be with you. David tell us about your former colleague nancy pelosi and what she has on her hands this month. She hassome big issues to address and her caucus is not always on the same page. Joe she does but i think theyre more on the same page than not. What an antipelosi has been able to maintain is a level of nancy pelosi has been able to maintain is a level of leadership in a very diverse caucus that not many people could do. Not an easy job. Time, she is a person who has made history, but that is not what she is about. Not about the historical nature of her being, she is about doing good things. That is shared by the overwhelming majority of the Democratic Caucus in the house of representatives right now. David she appears to be intensely pragmatic, but address the debt ceiling. Gone up in september. They have spending limits and different views on what to do about it. How is she going to her that needle . Joe the debt ceiling and spending limits are two different issues. The debt ceiling is about money we have already spent, and obligation the u. S. Has to pay its bills. There, i think democrats are less likely to want to hold it up as a hostage. In the past, republicans have held it up, creating these fiscal deadlines that were unwarranted, and put the American People through something that was unnecessary. On the spending and of it, some differences in terms of prioritization and where democrats want to see the money spent, how much they want to see in certain areas. Curtailing other areas like the border for instance. Where the fight will be more at. You have some folks who are nita very experienced in lowey, in particular, the chair of the appropriations committee. Line, folks that had experience in negotiating, puts democrats in a good spot. David give us a little bit of a peak of what is going on in congress with respect to appropriations, spending money. From the outside, it looks like the democrats want to spend a fair amount of money on their programs, the republicans want to spend a fair amount of money the solution is to do both and run up the debt. Of debt issue becoming more of an issue on both sides of the aisle, now that we are going beyond the 22 trillion point at this point in time. Theres an open debate about the percentage of debt to gdp and whether or not we are going to service, that the debt on the debt itself is more hampering in terms of what we can do with the government. Both sides have played into that. For democrats, priorities in peoples lives need to be addressed, helping people move forward. That is where the priority will be for them. Me one thought on alex acosta, the secretary of labor under fire now. Theydent trump saying that may look at it, but says it is from a long time ago. Joe the statute of limitations on things like this do not run out in public opinion. A long time ago, there was a deal that was cut between the secretary of labor and this i dont even call him a gentleman should never have been caught in the first place, a sweetheart deal. This man was able to have future victims because of it. There needs to be a reckoning. Moral effectsome on his job. David thank you for being with us today. Roleore on alex acostas on the plea deal and Jeffrey Epsteins highprofile ties, we welcome tim obrien. You know the story well. How big of a problem is this for mr. Acosta and donald trump . I think more of a problem directly for alex acosta. Some issues about how he conducted himself when he was the u. S. Attorney for the Southern District of florida. Jeffreyally why he gave epstein a slap on the wrist to the charges against him. A federal judge already said that he believes alex acosta and his lawyers broke the law when they did not tell the victims that they had arranged a plea bargain with epstein. It is an issue for donald trump in the same way that it will probably be an issue for powerful men in palm beach and new york around to the view issues. What else does Jeffrey Epstein have in his pandoras box, incriminating information . The other thing is how the Jeffrey Epstein go about making his money . We know he only had one big investor in his fund. After that, its a mystery. But he maintained a lifestyle that couple decades allowed him to fund money into homes, traveling. It will be interesting when they explore his money. David when we ask how this could happen . To pick up on what President Trump said, he said it was not just mr. Acosta, it have to go all the way up the line to the justice department. Wouldnt you look at that and say, really, we are going to have that light of a sentence for that accusation . Office of any organization, there can be a lot of latitude even to people inside what offices. Historically, the u. S. Attorneys office has given great way to the independence of local attorneys. That is true of the Southern District in new york. They reached a different conclusion about the nature of epsteins crimes. Whennk its a distraction the president says we need to look up the food chain. Alex acostas behavior is what matters. David you also have to wonder about the search warrant. They found a lot of photos and videos that were incriminating. Why didnt they do that in miami . Great question. Why did they extend in unity agreement to his coconspirators in florida . That has also been blown up by the actions taken in new york. There is a lot that alex acosta did hear that was out of whack. David the president has been implicated in other things before but has always been fine with his base. Any reason to think that this would splash back more than others have . Said, hemp famously could shoot a gun on 5th avenue and get away with it. He has had a barrage of accusations about his personal and sex life that would normally topple another politician and he has not yet. David bill clinton also implicated. He is, but not to the degree that clinton critics are trying to portray him in. David now back to the news out of mexico. The nations finance minister has resigned. Eric martin is in mexico city with more. First of all, do we know why . On twitter a half hour ago, citing discrepancies with the Current Administration and other officials that he says was imposed on him by people with influence in the government. This is shocking news. Nobody was expecting this. You can see it reflected in the currency, down 2 . This has really shocked markets and rock confidence about the direction of the government. David what is the relationship between the finance minister and the president . He had worked for the president previously in mexico city, when the president was mayor. He also has a difficult task in terms of implementing controversial austerity measures and spending cuts. So a difficult job, one that seems, at least, eight months into the administration, has broken the last straw that it was supporting his time as finance minister. David thank you for the reporting, eric martin. More balance of power is coming up next. This is bloomberg. David this is balance of power on bloomberg television. Im david westin. Hat announced the completion of their merger today. Ceo about the red hat their strategy to lead in the hybrid cloud and how it helps to restrict transfer of data across orders. This is one of the most Important Reasons people will put in a hybrid cloud. I think of the Credit Card Company we work with today. If you are in a country like india that once the data localized, lets say i have built my application into spots around the world. Do i have to move their . Re . No. If you are on our platform, we can put the data where it needs to be. The apps and the data can be where you needed to be. Need it to be. This is the solution to that issue. Jim . is that right, if china says we want all the data to reside in china, your combination will facilitate that , so companies can say we want all of the data in china . Absolutely. Our platform is certified and works on ali cloud, so the ability to run it once, i can now move that to ali cloud without changing the code because we are delivering the same infrastructure that that application runs on, whether amazon, google, or your own data center. That is the promise we are delivering. David let me ask you the mont most bluntion question, what did you buy 435 billion . It is all open source. Is this not so much a Technology Acquisition but more the people of red hat . People of red hat are critically important, and so is the ecosystem. There is a lot of technology in red hat. This is why they are a very profitable company. That last mile for an enterprise, what you are surprised providing is support and service in packaging. That is technology and that is critical. Nobody puts that in an enterprise without those features. We could run a lot the cases where they used open source without that and had problems. Enterprises have be sure it is. Ecure and has been controlled this is actually, to me, not only a technology play, talent play, as well as ecosystem play, and platform play. If i judge this by our client reception, 100 percent from clients, whether Delta Airlines to morgan stanley. They see their future, the hybrid cloud, and they want that freedom of choice, as to whether to address a competitive issue or environment. This is what we have provided to them uniquely. David that was my interview with red hat and ibm. Finally, we remember h ross perot. The texas billionaire and twotime independent president ial candidate passed away today. Before he took politics by storm , he did the same to american business, selling the first firm he founded, electronic data systems, to General Motors, 42 . 6 billion. The second, ross perot systems, to dell. Perhaps the most famous event Business Career was freeing two of his employees who were being held in a prison in iran. 13 years later, he would throw his hat into the president ial issuesocusing on two still in focus today, the federal deficit and jobs heading overseas. He used charts and graphs to make the point, explaining with the catchphrase, it is just that simple. Leukemia ative from his home today in dallas. He was 89. Mark im Mark Crumpton with bloomberg first word news. Mitch mcconnell faces a new challenger in his relation bid. Former marine Fighter Pilot amy mcgrath announced her candidacy today. The kentucky democrat faces an uphill battle. Mcconnell has held the seat since 1985, and President Trump won kentucky by 30 points in 2016. The Associated Press reports in an interview mcgrath said of mcconnell, somebody needs to stand up to him. The president criticized the Supreme Court over its decision on the census. The court issued a ruling against the administrations proposed Citizenship Question on the 2020 senses. The president has also criticized the court on his decision to uphold the Affordable Care act. Census. He 2020 the president is taking another shot at the u. K. Ambassador to washington. On twitter, mr. Trump said the british diplomat is a very stupid guy. This is the latest in a dispute of