Agreed upon between today and july 1. Right now, members are talking. Lets see what they can do. Matt diplomats in switzerland will say they do not have blueprint for a deal. Greek banks are getting a lifeline. The European Central bank is boosting emergency funds. The ecb wants to make sure the banks stay open. Alexis tsipras will meet with vladimir putin. Some officials call it a sideshow saying food and is unlikely to give greece any money. Saying putin is unlikely to give greece any money. 90,000 workers will be paid a dollar an hour more than the prevailing minimum wage. That is only for Company Owned shops. Most of its u. S. Restaurants are franchised. The water war is now a statewide battle in california. The governor has ordered limits to preserve its best californias drought is in its fourth year in a row. Governor says the time to act is now because Climate Change will only make things worse. The climate is getting warmer. The weather is getting more extreme and unpredictable. We have to become more resilient, efficient and innovative. Matt water supply agencies must reduce usage by 25 . California snowfall this winter was at an alltime low. A senator who has been in washington nearly a decade will be facing a judge today. Robert menendez of new jersey is ordered to appear in a federal court in is accused of trading political favors poor 1 million worth of gift and contributions from a friend. Menendez denies wrongdoing. He is the 12th senator to be indicted while in office in all of u. S. History. One of the top stories we are following today. Another negotiating session overnight failed to produce a deal in the iran are talks. Peter cook is tracking negotiations for us. Are they any closer to an agreement than they were last night . Are they about to throw in the towel . The latest word we are getting is from the Iranian Foreign minister. Speaking with reporters saying they are working on some sort of statement that could be released as soon as today. They are still working on the language. It is not clear with that statement will contain. It is a press statement describing where they are at this time. It seems at this point they will fall short of the Framework Agreement that the administration has been hoping for. The question is, is this going to be enough for john kerry and the administration to be able to come back to washington and continue negotiations . This is how josh earnest characterized the state of play at the white house. As long as we are in a position of convening serious talks that are making progress that we would not abruptly end them. If we are in a situation where we sense that talks have stalled, the United States and International Community is prepared to walk away. Have these talks stalled . Weve not heard that from anyone at this point. John kerry still in negotiations overnight meeting with his counterparts this morning. We are waiting for word from the u. S. Side where things stand. The talks, still ongoing in switzerland. Matt the big sticking point. Why is it such a problem . Both sides are competing over this issue. The iranians want sanction relief right away. That means the ability to export oil. They also want u. N. Sanctions, those dealing with arms proliferation issues, to be put to the side. They want access to the International Financial systems. They want some evidence that iran is abiding by this agreement. They want sections relief to come at a slower pace. You have not only u. S. Sanctions but eu sanctions as well as u. N. Sanctions. Three different pools of punishment for the iranian economy. The sequence is very difficult and it has been a big challenge. Matt peter cook. Thank you for following this story. The new York Auto Show is underway and luxury suvs have been all the rage. Lexus and mercy these debuting new models. Infinity showing a model of its q x 50. It is heading for production. Carlos ghosn is live at the event. He joins us for a first on bloomberg. Thank you for joining us. Carlos good morning. Matt let me ask about what you are debuting at the show this year. Im sorry. Have you still got me . Carlos i can hear you now. Matt talk to me about the queue x50 the qx50. Carlos a lot of innovation. Youre going to see a lot of suvs and crossovers. This is a show where we are going to come with sports sedans. Youre going to see a lot of cars and technology in new york. Matt nissan has become the second biggest brand in the u. S. As far as car sales are concerned. How do you get there . A lot of people may be surprised. He were fifth a couple of years ago. You were fifth a couple of years ago. Carlos this is the result of a lot of investments in technology and cars. All the launches we have done in the u. S. For the last three years are doing well. Particularly in the segments which are growing the most in the u. S. With the rogue in the crossover sector. This has made a lot of progress and the gain in market share. We are coming with the relay of new products. One of the most important, the maxima, which is going to take the relay of all the cars we have launched. We are on the offensive with a lot of new products that will hopefully convince the consumer that we deserve a bigger share of the market. Matt the maxima has been a blockbuster since i was a kid. What is new this year . The 2016 model . Carlos the maxima you are going to see is going to be longer lower lighter. Much more powerful with 300 horsepower. Much more fuel efficient. 30 miles per gallon on the highway. It will have a lot of features in terms of safety and comfort. You have to drive it to see all of the details. Matt looking forward to driving it. Let me ask you about the weaker yen and euro. Is that helping you to take market share in the u. S. . Carlos the weaker yen and euro as you probably know for many years, we have embarked into a strategy to localize production. In a certain way, it does help us as much as some of our competitors were based in japan because more than 85 of the cars sold in the United States are made in north america. There is marginal profit coming from a weaker yen. It does not influence performance. We are 85 localized. Matt weaker peso right now. Wheres the best place to produce cars worldwide . Carlos i think today the u. S. Is a good market for all carmakers. I think china is a good market. India is coming back. The forecast is a 6 increase in india. There are other markets that are in more disarray like brazil. A decrease foreseen in 10 to 15 this year. The situation of the car market globally is very contrasted which ends up with a very small, 1 forecast of growth. Globally. Matt i really appreciate your time today. Have a great show in new york. Chairman and ceo of renault. Stephen went home and joins us in the next hour. It will be a fun interview, at least for me. Ask sports fans prepare for the final four this weekend, we will talk the biz the big business of george pine. Go daddy goes public. The Company Raises almost 500 million in the first day of trading. We will talk about the business. Matt here is a look at top stories. Police in kenya think out show bob is behind all should bob is behind an attack. 15 people were killed. More than 50 others were hospitalized. 500 others are unaccounted for. Al shabaab. A story out of yemen. More than 300 inmates have escaped from a prison there. An official says al qaeda militants stormed the facility and turned them loose. Among those freed, a terrorist leader who had been held for four years. Lawmakers in arkansas and indiana are scrambling this morning, backtracking on a controversial religious freedom hill critics say would allow discrimination against gays area Governor Asa Hutchinson of arkansas says he will not sign the bill until it is revised. House leaders hope to give final approval to legislation that addresses the governors concerns reader today. Later today. Shares of go daddy are up slightly in the premarket, one day removed from a big debut on wall street. The Company Raised 460 million and a larger than expected ipo. Go daddy provides internet dont a main internet domain Name Registration services. It had a post ipo market value of over 3 billion. Tiger woods has a week to decide whether he will play in the masters. Indications he will teach it up at the first major championship. Woods has been away from competitive golf for two months now. Those are your top stories on this thursday morning. Still to come he manages 13 billion, mark pinto. Where he is finding opportunities in this market. The fed chair making comments on economic mobility, still to come. College basketballs arnold for will take to the hardwood to decide who will play for the ncaa championship. Players will be fighting for the points but march madness is also big business. A trip to the final four generates 8. 3 million for that schools conference. That is eclipsed by tv ad revenue expected to top 1 billion. Joining me now to talk about the business of sports is george pyne. Founder of bruin sports capital. Thank you for joining me this morning. George great to be here. Matt march madness is massive. I have to imagine it is the second business second biggest sporting event in america after the super bowl. George the cpms you are able to get are the highest on television. The reason is because of the demographic in College Sports. 80 million females. 130 million men who earn over 100,000. A big audience, great demographic. Matt it lasts a long time so that is great. Better than the super bowl which is a oneday event. Who is this benefiting the most . A few Million Dollars colleges get. A billion dollars in revenue in ad revenue. Who gets the most . George at the end of the day the money goes back to the schools. They use that to operate their athletic department. Matt what Investment Opportunities do you see in the ncaa . George the business around College Sports is big business. A platform for corporations to reach this demographic. When you see the fans this weekend for wisconsin or kentucky, they are passionate people. Your colleges statement of who you are. Matt are they failing to cash in on some trends . George i think sports and media is changing. As the media landscape changes, it will create new opportunities and platforms. College sports is a great segment to tap into. Matt only basketball and football seem to be where we are focused. George that is where the interest is. The money follows the interest. The interest is in football and basketball. Matt i feel like hockey im from columbus ohio, so i feel like that is an opportunity that they do not cash in on. George a great product. A lot of passion in hockey. It is still more regional in the college landscape than football and basketball. Matt professional hockey does not seem to get its due. What are they doing wrong . George you to look at it from a north america standpoint. In canada, there is a passionate audience. In the United States there is a from the double audience. A formidable audience. Matt i love formula one but i am one of the few people in america that is into these Big International motorsports. Few people realize nascar pales in comparison to the sports. Why dont americans get into motorsports as much . George formula one is an incredible franchise. I was in germany meeting with the cmo. I used to marvel at what people pay. I used to ask him a wide you spend so much money . They say, you tell me what else i can buy that gets me matt a billion people watch formula one races. George formula one is every year. A global platform. It is an aspirational product. Formula one is an incredible franchise. I think there is opportunity for more growth in america. Matt the race in austin has proven to be successful. Do you think americans will catch on . Every couple of decades we try to get formula one back into the u. S. George over the longterm, it catches on. The more the world connects, i figure will both well for formula one. Matt thank you for joining us. George pyne, under of bruin sports capital. The end of an era for madmen. The season braces for its final season. A look back at how madison avenue has evolved. March jobs reports out tomorrow. In five minutes we will be breaking initial jobless claims. Just because im away from my desk doesnt mean im not working. Comcast business understands that. Their wifi isnt just fast near the router. Its fast in the break room. Fast in the conference room. Fast in toms office. Fast in other toms office. Fast in the foyer [pronounced foyyer] or is it foyer [pronounced foyyay] . Fast in the hallway. I feel like ive been here before. Switch now and get the fastest wifi everywhere. Comcast business. Built for business. Matt you are watching in the loop. Im matt miller, in for betty liu. Still with me, george pyne, founder of bruin sports capital. You just invested in the nfl making a separate is this of its hospitality unit. Big business. George it is the first time the nfl has taken the business and licensed it outside of the nfl in partnership with 32 equity the owners of the nfl. Were going to further develop a business to provide access to the super bowl, pro bowl, hall of fame game as well as provide a Premium Hospitality experience. Matt what is that . George it gives you access to hospitality inside the security perimeter during the super bowl. A great experience to entertain guests and clients. The big headline for us is, we raise 250 million in capital in x months. Within six months. We are announcing our deal which is Game Changing as terms in terms of the model sports. Matt it is a Game Changing deal. It opens a lot of doors. I guess you could do this in College Sports as well. George the idea i have always built platform businesses. I think what the nfl found attractive is, they do a great job with nfl businesses and maybe someday we can build platforms outside of football and further help rights holders interact with fans. We want to focus on the nfl and do a great job but also see if there are other opportunities. Matt we talked about formula one. Soccer is also massive globally. Something else american has not really latched on to. Is their opportunity there . George soccer is gaining traction in the United States. When you look at world cup ratings, they were terrific. The mls getting an increase in its right space and you look at the value of mls franchises increasing, i think soccer is starting to take hold in the United States in a way it had not in the past. Matt are people watching mls . George people are watching and attending. It is building overtime and continues to do better. As well as International Tours that come over in the summer. As the face of america changes i think the future in soccer is bright. The numbers suggest it is gaining a traction. Matt watching english soccer, german soccer. George the premier league will come up again. Matt we talk about motorsports and nascar is the first comes to mind. Im a great fan of indycar. Are these smaller leagues going to come up . George i think nascar has size and scale. It is drawing television ratings. It has a meaningful audience and is national in scope. Matt indycar has not gotten their. Re. It did not really pick up. George it is a viable sport. Probably not at the scale that nascar is at. Matt you have the best job in the world. George at least i know what im talking about. It beats making chairs. Matt it does. Who do you think is the biggest winner as far as the advertising game . Who was winning out now in madison avenue . George sports still aggregates to large audiences and has passionate fans. Do advertisers use sports in the same way as digital as they do for lineal for linear television. I think the answer is yes. The more channels for distribution, the better for sports properties. Matt live sports and financial news. George that is all you need. Matt george, thank you so much. George pyne, founder of ruin sports capital. Bruin sports capital. Initial jobless claims coming out. Julie hyman has the data. Julie a little bit lower than estimated for last week with a reading of 268,000. That is a drop from the prior week. It is better than the 286,000 that economists had been estimating. We are also seeing a result. The pace of 2. 3 million in that continuing claims number. We are also seeing improvements on that front. The jobless claims do not have much bearing on the monthly jobs report we will be getting. It is only one week out of the month. There has been some trepidation about tomorrows report given the weaker than estimated adp report. Perhaps investors will see this jobless claims report as a sign of some better news. We are getting the trade balance numbers. We are seeing a narrower trade deficit than had been estimated. 35. 4 billion. We are seeing a shrinking trade deficit. Matt thanks for that. We will stay on top of that story. Other top stories we are following. Talks with iran went to the night but still no nuclear deal. Iran is saying progress was made. We reviewed all solutions. These solutions were discussed as general topics which are to be agreed upon between today and july 1 and lead to a final agreement. Members are talking right now. Lets see what they can do. Matt diplomats will say only that they do not have a blueprint for a deal. That world powers are offering to lift sections on iran if it thomas is not to build nuclear weapons. The water war is a statewide battle in california. Unprecedented new limits to save water. The governor says the time to act is now because Climate Change will only make things worse. The reality is that the climate is getting warmer. The weather is getting more extreme and unpredictable. We have to become more resilient, efficient and innovative. Matt water supply agencies must reduce usage by 25 . The state passed snowfall this winter was at an alltime low. California passed drought californias drought is in its fourth year. Former educators are facing up to 20 years behind bars. They have been convicted of racketeering for rigging test results. Prosecutors say they did it to keep their jobs or win bonuses. A senator will be facing a judge today. Robert menendez of new jersey must appear in a new work federal court a newar federalk court. I am angry and ready to fight. Today contradicts my Public Service career and my entire life. I am angry because prosecutors at the Justice Department do not know the difference between friendship and corruption and have chosen to twist my duties as a senator and my friendship into something improper. Matt he is only the 12th senator to be indicted while in office in u. S. History. If youre hoping to have a good time in havana, you can reach out to air b b. Americans heading to cuba can book through the service. The island may become one of the companys they get latin american markets. The Obama Administration loosening limits on doing business with cuba three months ago. Coming up, it could be a bumpy ride for investors as the fed prepares to raise rates. Mark pinto shares his outlook for the uncertainty ahead. Tomorrow, we will have coverage of the march jobs report. Tom keene and Olivia Sterns starting at 7 00 a. M. Eastern. Matt though Monetary Policy is not the topic of the day for janet yellen, over the past week yellen has spoken in favor of raising rates with some supporting a move as soon as june. The fed is entering Uncharted Waters and that has investors sitting at the edge of their seats. How do you navigate through the uncertainty . Q whitman site is marc pinto here with insight is marc pinto. Thank you for joining us this morning. It doesnt seem like Uncharted Waters. The last time it doesnt seem like Uncharted Waters. It does seem like Uncharted Waters. Marc the u. S. Economy is getting stronger. The fed has said they would be data dependent in terms of moving Interest Rates. The fact that they are looking at taking rates up is a good thing. They feel the economy can withstand higher rates. Matt a lot of smart people think the fed will not raise rates this year. Some other very smart people think the fed will only to turn around as its strategy unfolds. What you think about that kind of speculation . Marc it is hard to predict the timing. I think the fed has tried to give as much guidance as they can without micromanaging the process. It is going to be data dependent. If the economy continues to gain steam, we will see a fed rate hike. We see signs of weakness in the economy, they may hold back. As long as their moods are in concert with the strength of the economy, investors will be fine in the equity market. Matt jim beyond go and ellen boettner seem to think it will never happen. Janet yellen has told us. Isnt this a certain move . Marc it has to happen at some point. Zero Interest Rates are not a sustainable situation for investors. As equity investors, we want to see a strong improving economy. Rates going up a little bit is a sign of that. We cannot stay in a zero Interest Rate environment. Matt what happens after . 125 basis point hike does not change the economy that much. A single 25 basis point hike does not change the economy that much. Marc at janus were focused on individual companies. I am very focused on what is going on in the economy. Like to say we are macro aware. We are looking at individual Company Results at the end of the day. Companies like a home depot that will perform well as long as the economy gets better. As long as the fed does not get in the way and cause problems. I think it is good for equity investment. Matt you like apple. That is more of a global story than just a u. S. Story. Marc apple is a 750 billion market cap. In my lifetime i never thought we would see that. They have 80 of the smartphone profits in the world with only 15 of the units which basically means they owned the highend. They actually raised prices on the iphone. Theyre up 10 yearoveryear. It is a juggernaut. Everybody carries one. New products are in the pipeline. The watch is going to be in interesting. Matt your top holdings are apple, mastercard, Union Pacific. How does Union Pacific whether the fall in oil prices and commodities in general . 2marc they are a diversified railroad. They are facing a number of headwinds in terms of the strike and the ports in the west coast. They are still going to grow earnings. And pay a hefty dividend and return cash to shareholders. It speaks to the strength of the Business Model that even with these headwinds, they can continue to grow. Matt thank you for joining us. Marc pinto. 45 minutes now until the opening bell. Julie hyman is taking a look at some of the action this morning. Julie lumbar liquidators is back in the news. This is a retailer that sells lumber that has been troubled ever since a 60 minutes report in late february alleging there were higher than regulated levels of formaldehyde in some of its products. The stock is rebounding this morning. We have been talking about car news. Tesla shares are rising after quit sweets credit sweets high probability given that 1400 vehicles were shipped from the Fourth Quarter to the First Quarter and there has not been a lot of buzz about potential production problems or issues. Take a look at carmax this morning. Another one that is on the rise. Carmax adjusted earnings, seven cents above estimates. If you look at the comparable basis of unit sales, they rose by 7 . Strong sales on that basis for carmax. Matt thanks for that. Coming up, the ad industry goes from don draper to digital. We will hear from one of the madmen of madison avenue who helped pave the way for digital advertising. Matt you are looking at a live shot of janet yellen speaking on economic mobility. You can watch it right now on our dedicated live event channel bloomberg. Com td. V. Disaster at sea in the water off rush upon our east coast. 56 sailors died when a russian trawler sank in 15 minutes. Rescue workers saved 53 no cause was given immediately but investigators say the trawler may have collided with drifting ice. An explosion on a gulf of mexico oil platform. Four people were killed. About 300 workers escaped. The mexican staterun oil company says more than a dozen workers suffered lifethreatening injuries. The company says it avoided a major oil spill. Full speed ahead for the European Central bank. Minutes of the ecbs last policy meeting determined revealed a determination to stick with the stimulus despite the fact that the eurozone economy is showing signs of picking up. Members agreed there is no room for complacency. Apples music streaming plans reportedly under investigation in europe. Regulators are focusing on apples dealings with Digital Music companies. Apple is planning a music streaming service. Regulators want to know if apple is trying to limit rivals that offer free service. The Floyd MayweatherManny Pacquiao fight is smashing records even though that is a month away. The wall street journal says the feed the paper view feed will cost 99. The take is almost 300 million. Coming up in the next hour, i am very excited. My favorite sports car in the entire world. Stephan winkelmann will talk about lamborghinis new car. Gary cohn weighs in on his bracket. It is a bittersweet moment for madmen fans. It has given the world a glimpse into the madison avenue culture that was and the ad revolution that shaped brands into what they are today. Joining me is mark obrien, president of edb bbb ddb. Now leading the way in the new digital age. Thanks for joining us. Talk to me about the show. Does everyone on madison avenue watch the show . Mark i would like to think most people try to watch the show. A great depiction of the birth of our industry. Matt the 60s, the 1960s, the beginning of the 1970s. What is madison avenue like today . Mark we are not tracking scotch at work in the morning drinking scotch at work in the morning. Madison avenue is still about connecting products to people. There are so many more ways to do that today. Technology has changed our business. One of the most talked about things on the super bowl was a campaign ddb did with mcdonalds where we tweeted out how much we loved each spot and did a giveaway of every product advertised during super bowl over twitter. Matt i was talking with george pyne earlier, aside from live sports and financial news, there is no reason to watch regular television. The kids are all online. Mark we hope that is not true. The great thing about television is, there is something for everybody now. We can target our audiences more specifically. When you talk about a mass audience, youre talking about sports in maybe financial news. Matt im not sure how big the audiences for financial news. Tv is changing. I only watch things on demand. There is still marketing opportunity but how do you change with that landscape . Mark we try to interact with the stories on tv. Youll see more Product Placement advertising. We try to feed into the story so people want more than the story on tv. They want to go online and see what will happen next week. We can build product interactions in. Matt i am assuming a lot of that is on the second screen. Mark increasingly on your mobile phone. These directors that are producing vivid pictures most kids are watching them on smart phones and ipads. Matt what do you do to try to keep people clicking . Sending promoted tweets . Posting facebook posts . Mark we have to engage with young people in ways that are relevant to them and give them content a want to look at. For clean and clear, we are giving them Youtube Content about singers who talk about the struggles and how to relate to products. Matt youre getting closer to the products as you do these kinds of things. If youre sponsoring content in a program you have to develop a closer relationship with the client. Mark mad men was about the creative revolution. Products have to have a purpose to engage with people today. We are engaging with clients to find what the product the perfect of the product is. Matt are you literally on madison avenue . Mark i am. One of the few left. Matt pleasure talking with you. We will take a quick break. Stay with us. We will be back. Matt tomorrow we will have coverage of the march jobs reports. Matt welcome back to in the loop. I am matt miller, in for betty liu on this thursday. Futures indicate stocks will open lower. The market looking ahead to the pivotal jobs report for march. Talks with iran went through the night, but still no deal. Iran is saying at least some progress was made. I hope we reviewed all solutions. These solutions were discussed as general topics, which were to be agreed upon between today and july 1, and lead to a final agreement. Right now p5 plus one members are talking. Lets see what they can do. Matt doesnt sound like a lot of progress. Diplomats in switzerland say only that i have a blueprint for a deal. The u. S. And five other world powers promise to lift sanctions on iran if it promises not to build nuclear weapons. Greek banks are getting a lifeline. The European Central bank is boosting their emergency funds. The ecb wants to make sure the banks stay open. The debt ridden country kospi ministers heading to moscow. Alexis tsipras will meet with russian president vladimir putin. Some are calling it a sideshow saying putin is unlikely to give greece any money. The water war is now a statewide battle in california. The governor is ordering unprecedented new limits to save water. Jerry brown says the time to act is now because Climate Change will only things worse. Governor brown reality is that the climate is getting warmer, the weather is getting more extreme and unpredictable, and we have to become more resilient, more efficient, and more innovative, and that is exactly what we are going to do. Matt water supply agencies must reduce usage by 25 . Melting snow typically helps but the snowfall this winter has been ended alltime low. Californias drought is in its fourth consecutive year. A senator who has been in washington nearly a decade will be facing a judge today. Democrat Robert Menendez of new jersey must appear in a federal court. He is accused of trading clinical papers in return for gifts and contributions from a friend. Menendez vehemently denies doing anything wrong. Senator menendez im angry and ready to fight, because today contradicts my Public Service career and my entire life. I am angry because prosecutors at the Justice Department dont know the difference between friendship and corruption, and have chosen to twist my duties as a senator and my friendship into something that is improper. Matt he is only the 12th senator in u. S. History to be indicted while in office. Those are your top headlines this morning. We are less than 30 minutes away from the start of training. Lets count you down to the open with the top 10 headlines hitting our radar before the bell today. Brendan greeley and alex brink of joining me. Lets kick it off with mcdonalds. Big story today. Number 10, some workers at the packaging may be getting a happier paycheck. They will raise pay at companyowned locations to at least a dollar more than the local minimum wage and begin offering vacation benefits as well. The move takes effect on july 1. It will only apply to 90,000 workers, which gives you an idea of how big mcdonalds is to. Alexis still not as big as mcdonalds workers would like. It only applies to franchises. Yes, big move, some folks are calling it of yards that matt 90,000 workers 90,000 workers thats a lot of people. Brendan is this optics or economics. With walmart and target making a move, it seems like because they can make one decision at all Stores Across the u. S. , they are being forced to to retain workers. Mcdonalds, it doesnt feel like that with a small amount of workers it will cover and the vacation benefits are as many hours as you work in with, per your vacation. And a lot of them are parttime workers. Brendan an attempt to forestall more demonstrations. Matt well have to compete still in a tighter and tighter labor market. Airbnb it said today it is now offering properties for rent in cuba. This marks one of the first u. S. Companies to establish themselves there since obama and president raul castro announced in december there were restored diplomatic ties after 50 years. Brendan this is an amazing test case. Usually what airbnb is competing with is the established hotel infrastructure. There are hotels in cuba, but not nearly as developed as in other places. Zero test case to see whether or not this can replace hotels. Alex that is what airbnbs pitch is here, that we will not disrupt the culture. We will not bring in the big shots to modernize what is old school cuba. The challenges are still not open to tourism, and only about 4 of the households there have internet. The owners of the homes do everything via the web. You have homeowners setting internet next door to make this work. Matt im surprised they waited, by the way. Usually these colonies dont worry about regulations. Alex you mean uber . Brendan alexs point about Internet Access is huge right now. Were basically fighting with venezuela to see who can more quickly matt double ding. Brendan double ding, never mind. Matt he hopes to make big money from platforms like twitter. Using Consumer Behavior on social networks to bet on and against u. S. Stocks. When i first heard the story i thought, this is really cool. Then i thought, is it really that cool . Brendan im surprised it took this long. Ive been reading about research for five years and im surprised this is the first hedge fund to do it. Alex Sentiment Analysis is different than looking for baseline trading decisions. Part of the problem is that twitter has this firehose of information. By now it is only open to a few companies. It is about taking the data, all of the unstructured data gobbledygook, to an algorithm and turning it into something that is actionable. That is where some of the gap has been in terms of making this work, even though it has been talked about for half a decade. Brendan i argue that this hedge fund in particular, where there is a disadvantage if their ends of the being one, disappears quickly. There will be a Sentiment Analysis person within every department. Matt number seven is Morgan Stanley. The Investment Bank gave its Ceo James Gorman the biggest pay raise among wall street executive officers last year. His salary was a 25 to 22. 5 million. Seems like he deserves it dont we all deserve 22. 5 million . Shares of Morgan Stanley were up 80 the last three years. What wasnt up 80 the last three years . The market has triple. Nice job. Brendan i never know how to talk about these stories. The story crosses the terminal and i only think one thing there is another person who makes a lot more money than i do. Alex the companies as they are not considering this 2. 6 billion settlement when they are calculating this day. They are saying look, the shares of more than 20 a year for the past three years. Seems like the guy is doing a good job. Comparably, it seems like he is the next with some of his contemporaries. Matt keeping up with the index, almost. Nice job. At least almost keeping up with the index. We are all his friends brendan no, listen, congratulations. He didnt fall off of a bus. Matt number six is bourbon. It is experiencing open while its scottish rival whiskey, is sinking. 95 of bourbon is produced, of course, and kentucky. Scott sales in the u. S. Fell 9 . Because i sometimes hang out with brandon after work, i know that he is a huge driver in this. Brendan i am part of that market. For 20 years scotch particularly highend scotch, was the byword in whiskey. That is no longer the case. Even irish whiskey. Scott still drives the marketplace despite this dropped it when you go to master distillers, the language they use to describe their own whiskey, even if they are making bourbon, is based on the palate of scotch. I argue it will always be a little bit like bordeaux, we used to describe everything else. Alex i feel like im always telling the generational part with you. Im old enough but the millennial generation, you think of scotch as your grandpas drink. Bourbon has this local flair that folks in the 2535 age range really like, the artisan feeling. Matt williamsburg, got a beer ard lumbersexual. Coming up, lamborghini sales are tearing up the pavement. Matt we continue to count down to the opening bell. We are halfway through and that means it is time for a deep dive. Number five, the auto show is on. It is featuring serious luxury vehicles, and chief among them for me at least, lamborghini. In the taken them six years as the but the maker of super cars beaten its previous sales record set in 2008. The 2014 and bikini managed to move 2530 cars. 2014 lamborghini managed to move 2530 cars. The ceo joins me now. Disclaimer here the lamborghini event adores my alltime favorite sports car. That is really almost all you sell. Steve yes, we are a twomodel company. We sell less than a man. This is one of the things the luxury business is always very limited and it is going great, and the aventador is since 2007 on the market. We have one of the Geneva Motor Show which is doing great so we are very happy, yeah. Matt why only 25, 30 yeah cap do you want to keep this limited field, this exclusiveness . Hard to produce that many cars . Steve it is a little bit of everything. The market is very low. We are selling an average of 1000, which is double the predecessor, so we are doing a good job there. Car is very attractive. We presented the car in march at the Geneva Motor Show. This year we have the opportunity to be better. The First Quarter was great. Lets see what is going to happen. If no major crisis are coming up, we can be better. Matt i got to drive this aventador on the new jersey motorsports track. Here is video of me doing that. Was the greatest day of my entire life in 41 years, as you can see there. But i learned about the racing series that you use to bring in buyers to the experience that hows that going . Stephan its going great. We started in 2009. 2012, and we had another series in asia. Since two years, we have been doing it here in north americae. This year we will start with the huracan and the first race is next weekend, 11th of april in italy. Matt very cool. You probably wouldnt race an suv. Are you any closer to making that concept a realization, the lamborghini suv . Stephan we think a third model is good for lamborghini. If it is a third model, it will be an suv, because it is a growing segment, very well the stupid amongst the regions in the world. Very well to distributed amongst the regions of the world. Matt and one of my alltime favorite cars basically became the humvee. What else can we expect from lamborghini . As the aventador is phasing out, what is next . Stephan the aventador is not phasing out. It is doing great and there is a lot in the backdrop, a lot of surprises coming up. I think lamborghini is never speaking about the future because we always have to be better than the expectations of our customers. It is a dream car. It is not a target by just not a car you buy to go from it is not a car you buy to go from a to b and it exceeds expectations. Matt i really appreciate the work you are doing for mankind. Ceo of lamborghini. Still the come, battle of the bloggers. Days after ben bernanke joined the blogosphere, he is already gotten to an online. With none other than Larry Summers. Matt we get back to bringing you the most important stories you need to know before the bell. Brendan greeley and alex barinka joining me this money could number four, ben bernanke. The former fed chair is in a battle on a blog. He started a blog on the Brookings Institution and in just two days he has gotten to a workforce with former treasury secretary war of words with former treasury secretary Larry Summers. Alex it is interesting. In the tech world, Mark Andreessen gets into between the tweetstorms. Summers and bernanke could get into a miniature novel. Matt it is not as snappy. Brendan this is what bloggers do. I think this particular argument about secular stagnation, i wonder why Larry Summers gets to own it. Matt secular stagnation . Which is . Brendan growth is going to stop, theres nothing we can do. It is cyclical and you can only get growth through population growth or innovation. There is some population growth. Maybe the innovation is over. Maybe the internet is not what it was cracked up to be good indoor plumbing hugely innovative i got dinged for saying indoor plumbing. The internet possibly not as good for productivity. Internet it ben bernanke says that is hogwash. Matt i got halfway through the story and i was bored to tears. Number three, weeding out the competition crapkraft foods and model mondeliz . It came during the breakup of the former kraft food and model these . What a horrible name for it. Brendan it doesnt mean anything dirty in anything which. Matt is it like global cheese . Brendan they look through to make sure you have not said anything deeply offensive in danish. Alex interesting to me, coming from the company news site, to see not traders labeled as a bad actor to see them place a big bed and pull out just about the shortterm crisis drop because they expect the prices to go up later. This could be an interesting speculation moving over to the company news world. Brendan 30 million bushels of wheat a year. They have a problem in the semite mcdonalds does i know, they tell us to keep moving on. It moves the market. Matt go daddy gained in its trading debut. The company made 460 million in a larger than expected ipo. I own Cocktail Party pants. Com, mrfancypants. Com. Alex and yet you are just wearing khakis. Brendan somebody emailed me to correctly saying that they offer a better product that is easier to use and superior to other web hosting companys. Alex it is potentially true. I have played around on a few of them. They offer a suite in addition to just getting into the domain. That is the that. I only own one. Which is mine. Matt alexpabarinka. Com. Brendan i own my name, plus pilgrimsandstrangers. Com. [laughter] someday my novel. Matt quick shot of that screen. Down slightly. Matt welcome back to in the loop. Lets get back to bringing you the most important stories you need to know before the bell. Brendan greeley and alex barinka joining me today. Number one is greece. The greek exit, rolls on. Prime minister Alexis Tsipras is struggling to secure a financial bailout. His chief opposition expressed willingness to join a unity government if the plan is to keep greece in the euro. Meanwhile, he is begging for money from putin. Brendan unspoken is the concern that tsipras will lose people on the left but there is no evidence that is happening. He is keeping his coalition together. I read the short know actually, the 25page note they sent to germany matt this cracks me up, by the way. When the u. S. Congress does something, it is 1500 pages. [laughter] when he sends a report to the eu, it is like a fivepage paper from eighth grade. No wonder theyre not making progress. Brendan do you think they change the type . Matt they are not doing any work brendan they are offering specifics but they cant figure out whether surplus is going to be. When they cant have higher than. 5 , it is not acceptable. Alex samaris is there to pick up the pieces. He is your guy. Matt we continue to beat the drum to tomorrows jobs report. The consensus is 245,000 jobs will have been added in march. My next guest critics the number will false my next guest predicts the number will fall short. Michael maroniss state street banks chief investment strategist. There you hear the bell. 245 is a big number and it will be another one of these big numbers. We are doing people. Michael we are doing well. 12 months of 200,000 jobs or more. I checked that trend to continue. The fat and the market will be watching the fed and the market will be watching mostly. My forecast is that we will continue the 200,000plus trend. I think we will hit around 2007000. Matt about 2007000 . Brendan going to the jobs numbers tomorrow, what is your take on the jobs numbers and janet yellen in San Francisco where she says hold on, we will make this decision when we are good and ready. Michael im focus most on the average Hourly Earnings number. That number has been stuck at 2 now for quite a while. From my perspective, i have good news for america. Wages have bottomed. When you saw the information yesterday for mcdonalds, following information from walmart, target, starbucks, and many others, combining with 12 other states that have passed kind of minimumwage legislation that is higher. I think when the wages bottom we will see some acceleration. We are going to begin to see that. That is what the fed will be looking for. Alex where is the level where yellen comes in and says this is meaningful, this actually means something for how we are going to go forward . Michael we will have to get closer to the 3 level and it will take a while. Im not saying we go to 3 or 4 tomorrow. The news for mcdonalds and others, slowly but surely gradually going to get in there. We will see it creep up in the next few months. Brendan are we also looking for a fix to underemployment . It is not just people getting the wage that they want, they are not getting the hours to make ends meet. Is that another measure we need to be looking at . Michael i dont think it is key to the Hourly Earnings. There is an element of the cyclicality and it an element of structural change. It is a combination of both. I think that is comfortable with the Participation Rate and some of those other numbers. They have said that there is some slack in the labor market that is likely to continue. Matt the fed has to raise rates this year, dont they . We have a lot of smart people saying they wont, but dont they have to . Michael i think there are they are a bit stuck between a rock and a hard place. They have said that employment we have seen a diminished in the slack from that standpoint. On the other side that is why i am watching the average Hourly Earnings the inflation side. That is been a real dilemma for the fed. Is it structural, transitory more permanent . You will see that number creep up and you will see the fed raise rates this year. Very slowly. Brendan are you reading Ben Bernankes blog . Michael i am not reading Ben Bernankes blog. Brendan where do you fall on the stagnation debate . Michael there is a tremendous amount of liquidity and the markets are underestimating that. We have had banks put forward some type of monetary easing. Everybodys time to copy the playbooks of the u. S. And the u. K. It will lead us to Economic Growth. My view is that it will keep rates low. Matt Larry Summers uncle famously said brendan paul samuelson. Matt less than zero will keep michael it will keep risk assets very well bid. Brendan you disagree with bernanke that because there is this glut of savings, rates are so low. Michael absolutely. Given the fact that rates are being pushed low, that is going to keep Economic Growth below trend and inflation low, rates low, and this liquidity is going to find a home. You going to lend it to german banks, japanese government bonds . I dont think so. Stocks will rise in that environment. Matt if they announced qe, i will buy the bond. [laughter] you are just hoping the price continues 1. 2 trillion in the market. Michael but at, how much lower can they go at 20 basis points, how much lower can they go . Matt all right, very cool. Thank you very much for joining us. Also thank you to Brendan Greeley and alex barinka. Real pleasure having you this morning before the bell. Coming up, drug deals. Not that kind of drug deal. Hungry pharma giants are to slowing down after last years failed takeover attempts. Find out where they may bring their piles of cash next on in the loop. Matt tomorrow we will have coverage of the march jobs report with a special bloomberg surveillance. Even though it is good friday tom keene and Olivia Sterns will come to work. Tune in at 7 00 a. M. Eastern on good friday. Lets turn to julie hyman for a look at the Early Morning action. Jules . Julie one of the stocks that was having early action was micron technology. Just a little to down. It forecast thirdquarter sales short of analyst estimates. We are seeing more movement in the stock. The company has said revenue would be the 20 billion to 1. 4 billion. We have seen some chipmakers say they are under pressure because of weakening demands for computers. Were looking at Tobacco Companies, specifically two of the best performers in the s p 500 today. According to reports in a publication deborah feinstein, the head of the bureau of competition is for approving the deal between these two Tobacco Companies with some domestic shirts some divestitures. Lets check on go daddy. It was up 31 on the day after it raised money in the initial public offering. We are seeing shares continued to climb in todays session by nearly 3 . The backdrop for these movers that are moving more is the market that is not moving very much at all. We did have the jobless claims report this morning that came in better than estimated. However, it seems like investors, despite the fact that there is not going to be trading tomorrow in equities, that they are really focused on the jobs report coming out tomorrow morning and waiting to take their cues from that before we see any kind of big direction here in the market. At least that is what it looks like at the moment matt. Matt thanks very much, julie. Cashrich Companies Like pfizer are fast and furiously driving an overall rise in takeover volumes. This time around they are thinking smaller. Brooke sutherland joins us with more. Brooke, welcome to the program. What is fueling this comeback . Brroke a lot of it is Companies Pursuing huge deals that did not happen. I know all three of the companies have done deals so far this quarter but they are, like you said, smaller. On the other hand, they have a lot of fuel left. Matt they have dry powder left that they didnt use last year. Why are they thinking smaller . Brooke they are still looking for growth and these are good targets and are still pretty big. They are nothing to sneeze at, just not that 100 billion deal that astrazeneca would have been. Matt what are people buying . Does it matter . Is this a case of executives who have too much money . Brooke no i think it is a case of these older legacy Pharma Companies with drugs that are not growing as much as they used to. They need to refill the pipeline. The companies they are buying has faster growing products that will do that. Matt how do we investors feel about this . A lot of times the buyer stock goes down and the takeover rises to the premium. How investors dealing with this front of takeovers . Brooke the acquired stock is rising and part of that is because Interest Rates are low and it is easy to make the deals work. For the most part, they like them. Matt can we expect another banner year in m a this year . Brooke it sure it. It is showing no signs of slowing down now. A lot of these companies have cash and some of the targets from last year are still out there. Scheier could be interesting to some. Matt in a different tax zone. Are we still seeing these deals where American Companies just want to get out of paying this insanely high Corporate Tax rate . Brooke not as much because with changes in the regulation it is hard to do that, but you do see companies with lower Tax Jurisdictions being very aggressive acquirers, because they can make these deals much more creative than somebody matt one thing i worry about is the strong dollar. It has to give the companies more ammunition. Brooke it absolutely does, and europe is ripe with bargains. If you are trying to find something on the cheaper site, that might be the place to look. Violations are rising for some of the u. S. Deal valuations are rising for some of the west deals. Matt what is coming upmatt in the pipeline . Brooke i mentioned shire. Another one they are looking for it to do something big. Matt thanks so much for joining us. Brooke sutherland of bloomberg news. When we come back, the final four this weekend. As you probably know, if your bracket still intact, it may not be as good as Goldman Sachs president gary cohens, or the quicken loans founder. Matt todays bloomberg big number is 1. 3 billion come the estimated profit of universals fast and furious movie franchise, no joke. Its latest installment furious 7, hits theaters this weekend. It would be the richest fast and furious ever. The latest film and the series was thrown into doubt after the death of one of its stars, paul walker. Using body doubles and computergenerated imagery, they were able to finish the late actors scenes and it seems the show will go on without walker. There are three more potential movies in the pipeline. I cant believe i actually want to see that. I want to see that movie. I can believe it. Matt things are heating up in the bloomberg rocket. I am making you 37. With us, stephanie ruhle. Stephanie i am actually in the 36. Matt that i am in the 37. You collected 10,000 from these superstars with Michael Doyle stephanie and michael bloomberg. Matt nice job on that, raising money for charity. Stephanie the finals are upon us. This morning i sat down with Goldman Sachs president gary cohn. Gary will know if you one by saturday night because if wisconsin the kentucky, mr. Cohn takes it all home for his charity. But if kentucky wins the whole thing, dan gilbert of quicken loans wins. Gary points out the reason both he and dan have done so welcome to both of them are from cleveland, ohio. You, my friend they follow big ten basketball. It is not like they were throwing darts. There is real strategy behind it, and real dough John Chambers of. Cisco if duke beats kentucky, John Chambers takes it all. If michigan wins, it becomes more complicated. Matt michigan state. Honestly, university of michigan isnt good at any sports. Stephanie John Chambers of cisco, dan gilbert of quicken loans, gary cohn. Yours truly out of it. And team owners, people who really know basketball and own teams and are pumped up about it. 60,000 is a lot of dough. Matt John Chambers, im just guessing he went to duke, which is why he chose duke. Stephanie i dont know, but duke is sure to be the wall street favorite. John chambers playing for i just want to point out, if any of these charities that are up there to win dont know what to do with the 360,000, my organization will take your doug h. Matt actually, John Chambers, West VirginiaUniversity Bachelors university and a jd an mba at indiana university. The bloomberg terminal is so useful. I wonder why gary cohn kicked wisconsin. Stephanie he follows big ten basketball. He says he did his homework, he thinks wisconsin is going to win it, and if they do, its a lot of money. Matt i pick kentucky, along with dan gilbert. Stephanie and the rest of the world. Matt but because i went to my first keg party in lexington kentucky, at uk when i was a junior in high school. Stephanie how did it work out for you, that party . Matt probably average, but the as a wideeyed junior, ive never been able to stephanie i at college. Matt this is when i was a junior in high school. Stephanie you have never been to a cake party in high school . Matt not a college keg party. Thank goodness the two of you are back. Stephanie we will talk to gary cohn about more than the ncaa. Janet yellen, oil, and the nasdaq. Matt he went to american university. Why a mayoral race matters more than ever this year. Our spotlight on chicago is next. rgest city would not manage anyone beyond driving distance to wrigley field. This year, chicagos mayor race reflects and could shape the direction of the Democratic Party, not to mention the future of American Cities at large. Bloomberg views Frances Berry explains. Francis the incumbent rahm emanuel was inspected to clear 50 . He did not get it, 45 . His challenger jesus garcia surprised people are getting 42 . They will face each other in an april 7 runoff election. Rahm emanuel was the president s chief of staff, and then ran for mayor and he won. This is his first reelection race. Garcia is a cook county commissioner who really came out of nowhere in this race. He wasnt even expected to run. The Chicago Teachers Union really helped propel him. Emmanuel strongly believes in mail for the schools. Garcia wants to return the city to an elected school board, which they had for many decades. This debate on how to reform schools is playing out all across the country. Big cities and in all 50 states to do you link student achievement to teacher performance. Do you support common core . Should it be easier to hire and fire teachers . These are battles at the core of education reform in america today. Chicago, like many cities, is facing a big problem with its pension costs. It is not Rahm Emanuels fault but he is the one having to deal with it, and that means making some really unpopular decisions and asking for more contributions higher retirement age, lower benefits from city workers. Garcia has said that he was going to tackle the issue, but he hasnt said how he would do it. That, of course, is that the question. It is a lot easier said than done. There is a moderate wing of the party and a liberal wing of the party, and these two candidates represent each wing very well. There is a big push to get Elizabeth Warren to run for president. By progressives and liberals. A lot of the same people are supporting garcia in this race. They see this as a struggle for the soul of the Democratic Party. Chicago represents the problems that American Cities are facing. Chicagos mayors race represents the debate going on within the Democratic Party about how to address those problems. Matt bloomberg views Francis Berry on the chicago mayoral race. Monday, from march madness to the race for the white house, we will talk to Mark Liberman about reaping the marketing benefits of the data. He is the ceo of viamedia. And tomorrow we are going to a special coverage of the march jobs report even though it is good friday, tom keene and Olivia Sterns coming to work. Tune in at 7 00 a. M. On your day off. Live from bloomberg headquarters in new york, this is market makers, with Erik Schatzker and stephanie ruhle. Erik mcdonalds figured they deserve a break today, so it is pumping up raises for 90,000 employees. Look for real costs for mickey ds. Stephanie we will tell you about the highprofile ceos on controversial issues. Erik and businesses at the top of our bloomberg bracket. Good morning, everybody. Welcome to market makers