Transcripts For BLOOMBERG Charlie Rose 20141119

From our studios in new york city, this is charlie rose. Digital journalism is changing the way we consume news. Information and social media has a landscape that has had a far ranging impact on our daily lives, including investment decisions. Here to talk about it is josh ltz asseto of ritho management. Joe weisenthal of bloomberg news. Felix salmon is executive Senior Editor at fusion. Megan murphy is head of fast ft , a service that delivers marketmoving news 24 hours a day. She will become Washington Bureau chief for the Financial Times in january. What is it exactly you do . Give me a sense of your day. I started at bloomberg a week ago. Picture, when i was at it wasss insider, basically reporting on the news in real time, trying to bring financial journalism up to the speed that the internet and also take advantage of the due outlets that we have, social media, getting the Financial News through the proper channels. With Global Markets the way they are, what time would you get up and what would you read . For five years, i got up at 4 00 in the morning. Business,rted in the there was the euro zone and all of the different financial crises going on. There was so much to catch up on. If i got into the office at a normal hour, i would have felt impossibly behind. Basically since i started, my first read in the morning was twitter and following Financial Experts all around the world, waking up and saying, what did i miss . Usually people will tell me what happened while i was sleeping. Would get a snapshot then. That would be my first snapshot of the day. Very similar. I would get up at 4 30 in the morning. A launched two years ago breaking news service at the ft, which was a huge change internally. We have never had anything like it. Trying to do is respond to what we could see, which was that readers of the ft were going elsewhere to get news because we were not breaking news in real time, because there were so money so many other outlets out there doing it. We did not want people getting news that we felt we could deliver fast. But it is definitely a long day. And your first read in the morning . Always twitter. You can see exactly what has happened overnight, whether it is japan, asia, europe as well. One important aspect of twitter for editors is you can see what stories are breaking through and people are continuing to talk about. Lots of events happen, but not everything continues to get talked about throughout the rest of the day. Those are the topics you want to be on top of. About are not concerned velocity as much as they are, are you . I am slow velocity. I like to take a couple of minutes to think about things. I am also concerned about keeping people on the website, whatever website that is. I am very happy to start linking anyone. I have no need to replicate that. Try and just be smart and aggregate and try and tell the stories in a way that can be juststood rather than aiming stuff at very fast traders who want to move quickly and do not care about anything else. Just talking about style, everybody says you have a perfect kind of style for a blog. I really like creating and consuming the bitesize content that is wellsuited to social media. One of the cool things about media these days is there is such a different range of story forms. You can have a long article, a medium article. Short ande is is hopefully that tells the entire story. In financial markets, that is all you need. I really like looking at everything that is going on and saying, here is the story of the moment. Japanese gdp. One sentence, done. Theing and aggregating highspeed, high velocity stuff. What are the hottest subjects today . I would say today, japan. Because they are going into a recession. Probably the worlds most fascinating experiment in Monetary Policy right now. Today was not a great day. What happens going forward, but i think it is a great issue. I think oil is going to be a huge issue. I think u. S. Energy demands it. Josh, what are you looking at that interests you . The most interesting thing that happens always, but now especially, are these dichotomies between what the news is and how the markets interpret it. That is what my specialty is. People are doing this even though the news is that. What is everyone missing . It is not that i always have the answer, but that is the question i find most fascinating. That might be the most profitable question anyone can ask. With japan, the point is welltaken to it is fascinating and yet japanese stocks closed at a sevenyear high on friday. We find out the country is in recession. On the nikkei, down 3 and then down oneead nikkei point 5 . The market is looking through this and that is interesting to me as an investor. What is it doing with respect to the u. S. Economy as well . The markets are way ahead of where the economy is. I think markets should be right. Should beket is, it somewhat ahead. Maybe during this recovery, it has gotten way ahead, but one of the more interesting you talk about dichotomy, the people who move markets by virtue of how much money they have, for them, the recovery has been unbelievable. For people with no financial assets, there has been a huge difference between their perception and that leads to endless columnists or bloggers you see the market makes new highs. What about wages and inflation . There is an angry group of investors, traders who hate the whole thing. They think everything is a bubble blown by the fed. It is because of this dichotomy also, i think successful investing requires putting aside and trying toes figure out what moves the market. Perspective, i really do not care about markets that much. These guys care about markets much more than i do. This is one of the reasons why i do not think markets are that important to the fed can print loads of money and stocks can go up and bonds can go up and rich people can become richer and they become happier, but it does not actually affect the economy or normal people or real people very much. I think that the way that much of the news media keeps on coming back to markets is silly because it is really not. What is happening to the rest of them is really the story. Yes. The perfect barometer was the midterm elections in the sense that they were the only poll that was the most accurate because they gauge Market Sentiment for certain races. Whether it is a function of the 1 , there is no western that markets are the best leading indicator of what is going to happen recently, whether it is in ukraine, russia. Is a real that there world from the markets. They just do not know it or cannot necessarily see it. Maybe it is a little bit to up obtuse in the way that it has manifested. When you see stocks performing and buying back shares as opposed to hiring people, that is a negative incentive to hire people and you see that kind of thing propagate itself. In the real world, the way that is transmitted is most people get jobs as a result. I think it is there, it is just not necessarily black and white all the time. Regarding what felix was specifically, the u. S. Stock market is a reflection of rich people. Have hugearkets geopolitical implications in saudi arabia, the u. S. , asia. If you look at the broader markets, not just u. S. Equities, there are a lot of examples you where it has had a real world impact. The news industry is a test with the oneday news cycle. What happens to the stock market over the course of one day . 100 noise. S there is nothing in that story which is of any kind of relevance to 99 of the population. Yes, oil prices and other prices matter. But what we are looking at our levels which do not change as much. And most market journalism is about a timeframe that is way too small. I think the daytoday coverage i see it as being the narrator or a commentator of a sports game. Any given basket in a basketball game does not matter too much, but you are narrating the whole game. If you are good at it, you are putting the context you are putting an event in the context of a bigger story. Blogs our financial changing the market . It has changed radically the time spans are so compressed of access to immediate information. Immediate, really good information and quick information. We have never had this kind of yet people say this is a golden age of journalism. It is a golden age of content. The choice is out there for people to get opinions on both sides of the perspective. Just get a raw data feed and the access. People can filter what they want. They do not have to go to certain places. They can go everywhere and have a smorgasbord. Miami mission is to try to tell the story of what is going on in the economy but try to do it in a more visual way, a more digital way, a more immersive and interactive way than simply writing downwards and trying to come up with ways of reinventing storytelling. The compensation for that . The compensation is that you get to communicate much more directly with a generation who, frankly, does not have the Attention Span to read a large, long text piece. An excellent example of what i am trying to do, i just want to make it more interactive. You haveole range of left the New York Times, the Washington Post, have decided to leave big institutions. You have stayed. Why did you stay rather than go out on your own . Did you have a choice . Look, i believe very as aonately in the ft brand and what it can deliver. Being part of institutional change at that organization is exciting. We are trying to a daft. To adapt. There are many people who have said we have done a better job than sun people. We have a very successful pay wall and keep adding digital subscriptions. Also, there is a real appetite for change. People want to be the preeminent provider of market and Financial News. It is a massive challenge every day. Some days, it feels like pushing uphill every day in terms of what we are trying to do and the scale of change in front of us. Unfortunately, as a newspaper, you still have legacy newspapers you have to deal with in terms of advertising declined. We cannot be as nimble as other, smaller organizations can be. But we still have people that people want to come to to get their opinions every day. I want to be part of changing that organization, remaining that way for the next decade. Maybe it is a pipe dream so your change vision is to stay the same. Is to mandate of the ft make it more to present content in a different way, to present contact content in a more interactive way. Much wider, more relevant, condensed, in some ways. But the same thoughtleading, decisionmaking journalism that we have. What about martin wolf . He wrote a book he is one of the smartest economic commentators in the world. We can all agree on that. And he is good on television. Ou have read his columns they are not always the easiest columns to read. His books are not always the easiest books to read. Martin. My thing with is only valuable insofar as people understand it. I want to express my thoughts as clearly as possible and in as many different ways without making it stupid and without being false. , i felt,artin especially in his book, was making no concessions to making it easier to read or understand. What is your mandate . Bloomberg is this Incredible Organization that has resources that basically overwhelmed everyone else. Traditionally, bloomberg has not focused on the web. More the business is the bloomberg terminal, which is this amazing Information Portal that is only available to financial professionals. There is so much amazing data and amazing reporting that is being done. If even a fraction of that can get to the web in a way that makes sense not that it is not going to the web, but the strategy here has not been focused. It is a range of things. Part of it is having people be webfirst. Part of it is figuring out how to take the reporting and repackaged it in some way that is great for the web. Lots more charts, maybe changing the length of things, pulling allcertain chunks, taking of the data i mean, there is this obsession in journalism right now about datadriven journalism. I think that comes from a desire to see the evidence and show the work physically. Bloomberg has more data than anyone in the terminal. Extracting that data and showing it to people is a huge opportunity. And getting rid of the black background. [laughter] you do not like my background . Just for you, charlie. On the web, it does not work. They say a clear background is the best possible thing to have. Why is that . Because you want to concentrate attention on the thing you want to concentrate attention on and you do not want distractions. This is why you have nothing going on behind us. I am ready for a pink background. [laughter] differencemake a that you are an investor as well as a blogger . I think it does. It is funny because most of the people that i read are journalists and i am friendly with a lot of journalists. I think what they do is indispensable, but i think there is room now i mean, it is proven that there is room or someone who is not a journalist but who reads all the journalism and forms a strong opinion about which event is important and which event is not. I do not do reporting. I do not call sources. I have an Investment Management job. But i consume a lot of this stuff, i am in the markets as well, and at the end of the day, when i sit down and say, turns out everyone was focused on this but it really did not matter that much or this should have gotten more attention, i like to point to the journalist who uncovered it more because the journalist was on something before it was the cool thing to talk about. I like to say to my waiters, this was something that was valuable for me to consume. Journalists do journalism. Your colleague had one of the biggest scoops in recent weeks. You are not going to get it. Giving up sources here. I am in the investment business. Year, erarian and bill gross made 500 million. Probably each of them. Have we known everything we need to know about why they split . I think everyone at this table would agree. I will tell you something that is interesting. Whoever is winning now will look to be invincible. That is a great example of a firm with the most assets under management on the planet. Even when things are as good as they can be, you are never invincible in this industry. We learn that every year pick every year. What is wrong . Money, too many big personalities, too High Expectations on the part of the investor community. Ibm, nobody ever got fired for allocating to pimco. It became automatic. People move in streaks. The best performer one year could be the worst the next year. ,hen that realization comes out an organization is forced to deal with it. Andle point at each other nobody is above that in the whole world. , theing back a little bit presence of people like josh, barry, other financial professionals, is one of the huge aspects of this media revolution that deserves to get a lot of attention. On twitter, i follow people who are professional trailed traders, professional investors, who, in the past, would not be sharing their insights, but they are doing so all day, competing with journalists to become sources on stories. That is phenomenal. I really enjoy it. I love the fact that i can hear from people all day and see their reactions to news. But it sort of interestingly, no one picked up on that it has freed Investment Managers and hand fund and Hedge Fund Managers to be much more open on the on their views on the internet and twitter. This is fantastic. Journalists really do not know anything. We are just trying to find out what people who do know things know. What separates the good from the great . Hard work, always. In this job, waking up at 4 00 in the morning, 4 30, it has become the amount of time to you need to read so much and talk to so many people. There is so much information out there. You need to whittle it down. I say that two people every day. It is absolutely hard work. Think be able to Say Something smart in content that is expressed well. I think that is a corollary to hard work. I agree with that. Just about filing your peace and being done for the day, but being really excited about the stuff you care about. I have done really well by picking obscure topics and things that people would not pay much attention to and enthusiastically making the case to the public that these are stories that merit your attention. No one explains liquidity traps with more enthusiasm than josh. I have even more enthusiasms. A few months ago, there was a clause in the contract that was read in a certain way by a judge in new york. As a result of that one reading of that one clause, the entire country went into default. It was a big story for people. Battle . They won that he is winning the battle, but losing the war still. I know what you mean. Enthusiasm, certainly. Wanting to take on these obscure topics and break them down for readers and flag trends which no one else see. If your job is to create content that is interesting, the obscurity part is key. You already have 500 people report. About the jobs it has been done to death. ,hen there is another category probably something more akin to what i am doing, where you say, maybe there is room for a really strong opinion but i do not have the perch or the oped page at the Financial Times. I really want people to read what i have to say. A lot of it is personalitydriven. How can you get people to care about what you are saying if you do not have the New York Times, the Washington Post . Some of us have been more successful doing that than others, but that is the challenge. What separates the good from the great is getting people to care what you have to say when you start at zero. It is a big challenge, but that is a big part of where that separation happens. Is if youedged sword go over the top or you are too promotional or your stuff does not have the chops to live up to there is no notification to there is just the heartbroken realization there is a line between how promotional you are. If you are tweeting the heck out of your own links and people land on a page and say, i did not get anything out of that, you can find yourself becoming irrelevant quickly. Not like following selfpromoters. I want someone else to point to it. If someone else points to it, then it is something worth reading. Wants to josh, i have no idea if it is worth reading or not. Have drifted lower over time we built our newsroom. When i started, there were five people in the newsroom. Five people in the newsroom and the world was collapsing every day. There was nobody to write lots of stuff that were going on. There were days when i wrote over 20 pieces. By the end, i basically had to stop writing because i had mostly been doing editing. It has been going away. Funny you bring that up to me because i tried to ban it just because it had gotten so offtopic. In this very building, im having a debate with the great bitcoin component and he is saying yes, it is wonderful. I am saying, get out of here. What about someone like Mark Andreessen . Two bigs invested in bitcoin companies. One of them is base. The other one is a bitcoin miner. This is the most pointless thing you can possibly do. It might make money, but it is not going to change the world. List. Ike this falling gas prices are a bad thing. Yeah. We really believe that stock markets will fall sometimes when Oil Inventories are high or prices drop when, in reality, half the country lives check to check. 47 of the country makes less than 50,000 a year and 20 goes to energy costs. How we can interpret a falling gasoline price as negative is beyond any stretch of the imagination to me. But yet we do. Layoffs are great news. The more, the better. Go up when they announced layoffs and when they announce a huge amount of layoffs, stocks will really go up because people will point to that and say they are getting really serious about meeting their expenses. We have reached the point when labor and capital are opposed. They used to be, for many decades, linked to each other. The better the employees did, the better the corporation did. Now it has become more of a zerosum game. At best personified by ford motor company. Would ord billionaires from greenwich, connecticut, cannot understand the customers of jcpenney, kmart, and sears. You have a guy worth 15 billion and rarely leaves his enclave of the Upper East Side or greenwich. A u. S. State in a dollars retailer, when they start to run them themselves, like in the case of sears and kmart, i do not think there will be any result other than a complete and total disconnect. Hyperinflation in the that the numbers are wrong . There is hyperinflation right there. The covenant is playing by the fact that it holds over 100 billion in cash. Andpple has too much cash that has forced them not to innovate. It is like this thing that is weighing on the stock. What are they going to do with 150 billion in cash . They are never going to figure out the right way to invest it. The stock sold at eight times earnings at one point. Some companies have to earn a specific profit to the penny every quarter but others should never even think about profits. Amazon. It is actually really bad news. They lost their edge. Guysother company you see this. If another Company Misses by a penny, they will take 20 of its market cap. Are they ever going to make a quarterly profit . I hope not. Dont think they will, so dont worry about it. A friend of mine who is a venture investor and has something similar to twitter was never able to raise a lot of money could somebody finally told him why. The problem is, you earn money. When you are in money, we can assign a valuation to that. We can say it is 10 times for this. If you are nothing, it is a mystery and people can dream big. It is almost the worst thing you can do at an early stage. Wars, weather, fashion trends, and elections can be reliably predicted. The concept that this is built on is that people can do that. 5 10 with ever within every eighthour. About why this is up or down, yet they ask about commercial real estate. You know the value is fluctuating but there is no app on your phone that says your building lost 1 million today. They treat that differently. But your market investment if the market is up, it takes probability distributions and reduces them to a single point. It is impossible to know the value of a company like apple and Goldman Sachs 10. 5 either way, but that is what you wind up doing. You look at the stock and say it went up or down a percent. All of that is in a distribution where we think it should be. No one looks at stock news like that. In the last four weeks, apple has added 135 billion to its market cap, which is the equivalent of the entire market value of the home depot, which is a company that does 80 billion in sales last year. It is within the probability distribution. We do not know what apple is worth. It is somewhere around there. No new information over the last four weeks. It is sentiment surrounding apple. People take that the next step value ay, oh, the when steve was gone, people thought there were no new products in the pipeline and then you had to watch. There are new things and people said, we can rest. Apple is in good hands. What you are doing is you are ex post putting a narrative on the stock market. The stock went up and now you are searching for about 1. 5 months ago, the market tumbled. People were like, ebola and isis. People came up with all these stories about how ebola was affecting the market. Ebola has not gone away. But you do not hear any connection of ebola geopolitics, there is a running e about markets down markets higher on signs of ukraine tension easing. Markets down on increased rhetoric from couldnt from putin. You just work backwards. The market was up, so people are like, must be easing ukraine tensions. The person who leads a company is worth 400 times more than the average person who works there. Times, theit is 366 ceo versus the average employee at his company. O1 in the was 10t 1960s and 1970s. That is an extreme that goes in one direction. I cannot find a way where that makes sense, but there are no laws against it. All of the compensation consultants come from the same schools and work in the same companies. A sensibly, everyone is competing for the same ceo position. The ceo is almost never the most valuable person in the company. . Who is it changes from company to company. Buty company is different, i have been very suspicious of any company where the ceo is the highestpaid employee. The Company Selling 10 million cars a year is worth 50 billion dollars. Another Company Selling 40,000 cars a year is worth 30 billion the it is going faster. G. M. Versus tesla. This is the ultimate question about what kind of investor you are. Gm are selling 10 million cars a year. It is steady. A huge market share. They have a huge market share in china. They beat ford to china by almost a decade. Because of buick. Either way, they are there and they are doing very well. Tesla will finish this year with 40,000 cars sold. But that is growing at more than 100 per year. People are willing to say that is worth almost as much as gm. That is a really big, difficult thing for investors to get their minds around. Was 10arket cap of ge million. That was because it was a bank and they could not roll over. That is right. Company which cannot roll over its debts is paying for it. Thank you all. Great fun. Great to have you here. Bobby ryan is here. He is one of americas most esteemed Sports Writers. For almost four decades, he has reported on many of the great athletes and teams of our time. Globe, heston uniquely captured the Boston Celtics dynasty that was led by larry bird. He writes about that in scribe my life in sports. I am pleased to have him here. Thank you, charlie. You say that covering sports is, first and foremost, about the game. That is not really the thought process of many of my contemporaries. They have an elaborate disclaimer of detachment, that they are not emotional about this. They do not care who wins and loses. I am talking people who actually cover teams. I just say, people come and go. They all come and go. The cast of characters changes, but they are all blinded by one thing, the competition, the actual games. Interestedt cues me for all of these years. Say, certainly about critics and people who write Theater Reviews and all kinds of reviews, that those who have done it best are those who have loved the game. I would think so. Crowther lovehe that theater . I wrote basketball game stories with the eye on the critic to explain to someone who was not there what he or she missed and whether it was a good and valuable experience or whether it was just another night. Say, i strongly suspect my last words will be the one. I think that is a reasonable possibility. Im am still enthralled by the competition of the games. Is au said Sports Writer twopart word and my entire life has been devoted to both aspects. Knowledge, my father was heavily involved in sports in new jersey. That does not account for the writing part. The writing part was something that was ingrained in me. He would take me to a High School Basketball game on a friday evening. I could not wait until saturday morning in order to read about the game. It was not validated in my nineyearold mind, but that is the way i was wired. It has been said that you are the quintessential sportswriter. I am very grateful to tony for saying that. I take it as a high compliment. I think it comes back to the enthusiasm thing. Maybe brett of interest. In thet just interested meat and potatoes. I developed a strong example with the olympics. That was not something i was inking about when i started out. The great New York Times editor once said that sportswriting was a great way to start. He thought that people who wrote about sports gained something in the writing game that would serve them well for the rest of their lives. I think we have more inherent freedom to write. A lot of times, we encounter a political columnist. I couldest compliment pay that person is that you write like a Sports Writer you have a freedom of writing. Aboutnot have to write what happens what accounts for p. C. If you have that freedom to now, i am just guessing but that is what he was thinking about. Were you good at sports . The only sport i could play into prep school was basketball. I played it through and got that far and went out for freshman basketball in college and was cut. But i made the first cut. Baseball has always been my favorite. Baseball, as i state very greatest game to spring from the mind of mortal man is baseball. I think it has the most intriguing possibilities. What other game so rewards an inept act like a little dribbler down the thirdbase line in the world series. There are so many circumstances in baseball. There is more conversational fodder in baseball and basketball, football, and hockey put together. And it is slow enough so you can think about and analyze and see the choices that are made. That is true. The changes, the difference between two outs and the bases loaded and nobody out and the bases loaded is enormous if you know baseball. I have done a little bit for an inning or two, to sit next to a great manager who had the luxury of paying attention to me , and had him talk about the game and watch the game in motion. What are the choices here . What are people thinking about here . What are the options here . Aboutre you know anything, the more interesting it becomes. Age when in an information is available that was not available to those of us growing up 3040 years ago. I think there is a saturation point because every commentator has to talk incessantly after every pitch. Sometimes, baseball should be savored a little bit more. There are those that love College Basketball that do not like the mpa. To those who like College Basketball but do not like the nba College Basketball, which i love and have been involved with since i was 6 00, is the best hamburger since i was six, is the best hamburger. The nba is the best state ste ak. Every single season, there are a itm of 100, 150 games does not have to be the top teams, but if that game had been played in a College Arena with the fans and the cheerleaders and the tradition behind the two schools, people would walk out of that arena and say, that is the greatest game i ever saw in my life. This happens 150 times a year in the nba. The greatest game i ever saw in my life was the 1976 celtics and phoenix triple overtime game, game 5 of the finals, which had all kinds of drama and interesting plots. It was totally unexpected because the celtics were supposed to walk all over phoenix and they could not get rid of them. Of academy of the epitome it was game 5, highlighted by a fan coming out of the stands and pummeling referee ricky powers in the middle of it. What does larry bird mean to you . When he came along in 1979, i had been covering the nba for 10 years. I thought i covered the best player i would have ever covered in john have a check. Havlichek. Signed upit to having for an art course and in walks the new teacher. Mind to riseand my to his level. I think some of the best writing that i ever did was writing about bird. What is it about bird . He embodied everything i liked about the game. The passing, the shooting, the thinking, the rebounding. He connected with the fans in a way that was just special. All those intangible things and then getting to know him and seeing him blossom as a human , intellectualkout change. What about the patriots . They are a threat to win the super bowl. About four feet under after the fourth game of the year, when they were 22. Brady stepped up. The offensive line, he can throw the ball with comfort. Belichick, why is he he has a complete command of what it is to coach and more Technical Knowledge than anybody. He has the broadest knowledge about every nuance of every position. He just sees things that not everybody sees. He is a pure student of the game. He is a prodigy. His father was a football coach and he was taken into the film room at the Naval Academy at ages 11 and 12 and started breaking down film. There is no question he is a superior intellect. He could have been a ceo, College President , general, i do not know. But his enthusiasm for football is boundless. He may have the best private collection of football books in the world. He knows more about brown then his son, mike brown, does right now. I promise you. Lebron or michael . In the final analysis, it is michael. They both have broad reaching skills and they are both reaching that the governor profession at different times in history. Michaels ruthlessness, his competitiveness, the idea of cutting your heart out, that is not lebron. Lebron is a sweettempered human being. He is a nicer guy in that regard. He does not have that element of ruthlessness. The one who comes closest is kobe bryant. But thee closest, interesting thing about it i have a chapter about michael versus lebron. They got to the apex of their profession in totally different ways. The way michael was raised, he way lebron wase raised, a celebrity at age 14. We did not know about michael until he started at North Carolina as a freshman. He had no profile outside the state. But their personalities, michael did not learn to win until he learned how to share. Lebron did not win the whole thing until he was able to accept the responsibility of being the best player on the court and acting accordingly. You know john wooden . I met john wooden on a couple of occasions. My friend l walton took me to his apartment in 1989. One of the things we did is he rattled off the starting lineup of the High School Baseball team he coached in indiana in the early 1930s. All tonguetwisting polish names. And he had put into memory and extraordinary amount of poetry. Oh yes, absolutely. I got bill russell to come in at the same time, who did not play for him, obviously. But the reverence that russell had for him he played against him. It was a remarkable story. When he left ucla, 40 years ago downyear, he turned 32,000. Not care. Of all the players that you have seen, baseball players, who had the most skill . I am a willie mays guy. What is it about willie mays . You talk about the five tools. Hitting for average, power, running, throwing, and defense. Hat is a fivetool guy in todays game or subsequent years, he would have stolen 50, 60 bases. They did not run in those days, but he could steal a base. He had power and he hit for average. And he played for the team that made him a star. Not just an efficient player. He had the star power. I am partial to him. Thegriffey, jr. Was one of best in the last 25 years. I like golf and tennis. I never got a chance to cover much. We had a guy named bud collins. Anye was no need for superfluous coverage from any ryan fellow. Cover,rite sport to , dare iof the logistics say, cannot mess up by making us play at night. X you prefer baseball during the day. This book is called scribe my life in sports. He knows the games that he covers. Thank you for joining us. See you next time. I am mark halperin. With all due respect, they aint got nothing like that arch right there. On the show tonight, the bipartisan act of steve kings iowa but first, the city of ferguson, missouri, and the country waiting for a grand jury to decide whether officer Darren Wilson will be indicted in the Ferguson Police brutality case. Governor jay nixon named a commission recommending how to deal with the fallout of the protests here. Some africanamericans called for a protest nationwide. Ou