All that and more. Heading out to julie hyman. News that just came out in the last hour affecting the stock. That is a settlement over a cleanup related to companies in a choir. It is a 5. 2 billion dollars settlement. Looks like the stock is rising. The discount brokers today. E trade, ameritrade, Charles Schwab. Seems like they have been caught up and concerned rum highfrequency trading in the. Ake of the book Charles Schwab has called it a growing cancer. We are seeing those stocks pull back today. Finally, seaworld, which has though been troubled shares pulling back my nearly two percent. Thank you. The u. S. Chamber foundation is hosting its 13th annual aviation summit today in washington. The event is called navigating the true cost of client. David barger, taking part in todays summit. Great to have you here. The event really takes a look at the Critical Issues facing your industry. What was umber one on the list . One . Mber always great to be on. Thank you for having me. The true cost of flying. The number one issue was really about First Quarter weather. If i can sum it up, number one issue here today. Have you been able to update figures for the full impact of the Winter Weather we have had . We have not as of yet because the First Quarter of the books being closed. Mother nature was really tough on airlines, all of us in the United States the past year but certainly in the northeast. Was a 30we had million pretax impact. Then there was storm after storm after storm. For us, our airline headquartered in new york to train washington and boston, congested air case. The number in the First Quarter. Numbers. Eport we will report numbers. Start to take a look at easter and passover track it traffic. Snowbird still continuing to travel as well. Taking a look at the broader airline industry. In 2000 13 airlines took been almost 24 billion dollars in fees. That is double Airline Profit forecast. Just seems like that is the way you have to make money. What kind of fees is jet blue considering in the future . Because interesting here are the numbers. People get caught up in the numbers. You guys are so good at crunching numbers. 2013 tom a we also know in the bottomstates airlines, line is they profit for appointment of 2013. You look at the all a part fees and all in pricing and we are not about nickel and dime in but a Value Proposition. We will not charge you for the in seat assignment. We do not overbook. The predictability, transparency that is what is right for us. The loyalty has been about creating a better Value Proposition at a fair fare. I have you on record, saying you will not charge me for the live tv that you have. Where are you with that idea gekko on the record with the tv, we have not been charging customers for the tv. That is embedded in the satellite radar. What were looking at with the wifi product, true Broadband Internet into the aircraft, we will see what that looks like because we are pleased with how that rolled out across the fleet. Speaking of the premium experience, june 15 we started again. At the end of the day when we talk about pricing come i will not go too far except to say we will continue to be disruptive. And we look at what cost to fly across the country at a premium experience, you could be looking at 3000 oneway. We will be disruptive, and that is our plan. Using miles is pretty hard, too. Talk to me about the consolidation we are seeing in the industry. Compete onder to fares . Just flew in the entire industry. Jetblue and the entire industry. We like organic growth. The right partnerships. At the end of the day when you end up with bankruptcies and then mergers and acquisitions, rightsizing the capacity, we all benefit. That is difficult for those types of cities. Those are real tough situations. I like to do it without gouging the public. That is what we will continue to do. Went to ask you about the missing malaysia and jet. What has that done to make you rethink your safety operation . First of all, from a headline perspective, it is unacceptable in todays day and age to not know where an aircraft is. There is Technology Available today to know where airplanes are as they traverse the world. As we take a look into our safety program, there is always Lessons Learned from every event. We do not know what the causal factors were. We are still at the point where you start to reach out to those with members on the aircraft. Im there will be Lessons Learned i am sure. It might take a while to further embed into the safety program. No doubt Technology Innovation front and center in the debate. Ceo of jetblue, thank you for joining us. Coming up, we will be joined by bob reich, the former and sec chairman. Under his leadership the company more than quadrupled its revenue. We will find out what his passion is now. We will be joined by the king of the craft brew, boston beer founder. How he is celebrating 30 years of brewing some sam adams. Another nail in the coffin for discovery tv. Pairing up with hollywood form, as to launch new studio focused on producing online short. The latest challenge to the latest tv business model. In recent days amazon launched tv. Myney spent 500 million to to buy maker studios. Really goingevices fast. Joining me now to discuss rbc Capital Market is jon erlichman. An exclusive interview with ron howard himself. Thank you for being here. What kind of content are they looking to create . Short forms stuff. 510 minutes. I am glad you highlighted a few. Vents that is not like a billion dollar price tag. These kinds of deals are so important in talking about where we are going, whether it is the hollywood content providers like ron howard and brian grazer who could live in film and video for the rest of the life theyre like if they wanted to but also thinking about where the future is going to be and a company like discovery that is very profitable come about also seeing there is so much traffic tied tied to online video. Is not like the cable business or broadcast business where you are getting a license. Were taking advantage of the worldwide infrastructure. Whether it is on the web, ive had, cell phone. So we see ourselves on every one of these screens. The great thing is a great piece of content its pushed all around the world. Moving away from cable and tv and tv in making shows instead for the online forms out there. Movie, apollo 13. For the record, i loved apollo 13. Could but like the longest movie ever. What is the kind of upfront capital for discovery here . John has upfront discovery has thet upfront on discovery. We do not know the numbers yet but my sense is it is a pretty small lump pretty small number compared to this bigger ones. I think the key is like a call option. Represents ak it massive strategic shift. I think it is a call option. The amazon device is not about content but about distribution. Ecosystem itself is still anchored to gold in new and and Time Warner Cable channel 30. There is bloomberg tv. To needs tod stay intact for the companies to benefit of the new initiatives as they mature. We think it is a great time in media where we think you can take advantage of the small call options but the core business remains the focus. I am wondering if there will be a crossover from the short form asthe long firm an experimental venue to create programming. Did they say anything about that . One thing i ask is the and is to not just have ron brian grazer creating the content. Also the expectation they might bring others along to do it, too. I said, are those the kinds of people that will master this or the next generation that has been successful . I think there will be an intersection. Maybe that is what we can provide. The infrastructure that may where they are producing network and Cable Television and producing film and involved in creatively curious. Here is a place where you can explore and experiment and the place you can intersect with people that are committing careers are ready to the internet and their voice on it. David described it as a call option, and yet it is very clear he do not know where the road goes yet. I think that is why so many people are fascinated by it. One thing that really interested me was that the discovery franchise, to me, the greatest strength is in the docudrama, realitybased programming area. This initiative is like scripted. Hort form comedy one of the greatest scripted producers in the world right now. That, if anything, through me. Seems like an association with this company, while it may be us maybe a fantastic strategic moved it seemed a little in congress. We know that discovery went out and started building the business by acquiring provision three, which is different content than the kind you are talking about on the cable channels. Knows the scripted marketing is a smaller chunk. I think that was the thinking on that. Maybe not unlike what discovery did where they branched out from discovery and Animal Planet and dealt with a very known celebrity in Oprah Winfrey to create the opera network. That is where it is. If you can cover more territory, why not cover more territory . What kind of Earnings Growth do you expect from discovery over the next few years . The stock is trading at a high multiple. Discovery is a combination of two things. Probably the highest growth in the pure play media cable channel sector. The highest multiple but highest growth rate. Arguably consistent 20 plus Earnings Growth. The highest multiple in the group, the lowest nice to earnings ratio. Still looks relatively cheap with a nosebleed 20 times multiple with growth in excess of that. It is an odd thing. Really high multiple but could argue it is still cheap. Chinas largest Ecommerce Company is boosting u. S. Investments. We will talk about what is behind the push. Plus, boston beer celebrating 30 years of for winning. We will talk to the man who tastes every batch of sam adams beer, jim cook. Time for todays global outlook. This is the newest funding and round of u. S. Investments. The companies bolstering its presence here, investing in Companies Like shop runner. Sarah frier joins me now from the San Francisco bureau. Spree in theng u. S. Not aw . Alibaba household name in the u. S. But in china. Iants they are listing the stock soon. Preparing for an ipo in new york. I am wondering what the strategy is . If you break down the businesses they are investing in, messaging, ridesharing is there any cohesiveness here . To get a sense of why they might be doing this, it might be helpful to look at the home market in china. . 10 has been making move into ecommerce. Been making aas move into ecommerce. They also recently made it possible to hail a taxi through the app. That might be a reason. How does investing in u. S. Companies help them with competition in china . I think it helps them get a sense of how the markets will work. These companies have had international expansion. Asia is a huge market for messaging. A huge potential market for anyone making an app these days. There are giants out there that they would want to have some stake in. Have there been concerns among analysts or investors that they are diversifying a little too much away from the core product . I think we will hear a lot of that in the runup to i the oh. It is being valued at 200 billion, making it the second most viable Internet Company behind google. Google got their hands and lost the same. To compare. I think there will be concerned about diversifying the market. Competitors in china. They will be spreading into the u. S. Any word on what u. S. Alilators or lawmakers of baba making so many investments in u. S. Companies . These are very small venture capitalist investments. I do not think it is affecting the bottom line. Definitely a part of the Silicon Valley conversation. The pr continues. Where are we on the ipo . Where are we at . Road they are on the way. We will hear a lot more about it. Not sure what the data will be. We know they have picked bankers and expecting to list in new york. We should hear more about that very soon. Seems like every banker except for barclays. Thank you for joining us. Tofrom microbreweries microlending, joining us to talk about the 30th anniversary of sam adams brands. Much more after this. Boston beers mission is not just to brew craft beer but also to brew the American Dream. Also to celebrate the first the founder, jim cook. Welcome. A beer right on site. Well done. Just to give the viewer the sense of what it means, in it has meant 2008, 4000 entrepreneurs and provided 3 million in microfinancing to over 300 food, beverage, hospitality and craft brewing businesses nationwide. Truly amazing lending facility. The American Dream came out it in my kitchen 30 years ago. I have a lot of passion for beer but things i wish i had been able to get but did not get with loan money. Thats and bolts practical business advice. Program haseam microloans and coaching and counseling for Small Businesses. What has been one of your biggest Success Stories . What is the biggest success . We have had lots of really wonderful stories. Ewla. Something called br they make airy healthy ice pops. You go down the aisle in the Grocery Store where there is unhealthy stuff. Y make these rude pops brewed pops. Low calorie and low equivalent of an ice cream bar. A product that makes sense. They are very passionate about it. Yes. They are in about 120 stores right now. Last year they won the pitch room competition. Brewing the American Dream program. They have the best story and were able to present it in two minutes. One of the judges was the buyer for fairway. He put the product into the stores right away. What is the biggest mistake most people make . Think Small Business are very precarious. They often make a lot of mistakes. To me tom of the most important thing we look for in a business that we think will be successful is a great product, that is truly superior. A little business cannot be a little product. It has to taste better. If you couple that with a lot of passion, that is a pretty good combination. Talking specifically about boston beer in your business and product. You had to guide lower versus estimates for the full year. You blame that on advertising and promotion. What does that say about the huge competition that beer is having right now . Beer is going through a transformation. I think as people discover flavorful comer rich craft beers like sam adams, they are migrating away from the big, massproduced and mass marketed beers into something special. Last year we grew almost 25 . Seems like youre having to spend more on the advertising side to offset. Not only that, but we have to build up the buries. We have two foul by another tank, bottling line. Beer is capital intensive. What is the hardest part of the business right now . I am thinking it is hard to get aluminum when you try to buy it from the london metal exchange. What is the hardest thing . Or us, certainly one of the hardest is a very specialty commodity type of product called hops. They are an agricultural product. Right now, the success of craft beer has put pressure on some of the really interesting american hops. We have been struggling to get those. We also by german hops. Adams ishop in sam grown on literally a couple thousand acres in the entire world. We have to contract that out five years in advance. As the craft area beer is getting more competitive, is it getting harder . It is getting more exciting. Needing to plan in advance. You do pray for great weather in the upper midwest so that the barley crop comes in well. We buy natural gas that goes into beer where there is a spike with cold weather in the northeast. You always have those kinds of things. Luckily people drink beer every day and do not have to worry about that. The top five Beer Companies represent 48 of sales. What are you seeing . More than that when you look at the United States. 98 of the beer is made by just two big global brewing conglomerates. Then you come to my end of it, which is craft beer. There are 3000 in the United States. All 3000 of us have seven or eight percent market share. Sam adams a little over one percent. We can double. They cannot double. Here is the most important question i will ask you today, what is your most important labor . Still the original. You will find sam adams boston lager in my refrigerator. Still the best beer. Lex what are you working on next . Lots of others we are working on. We are working on things like a stout. Things on like a double ipa. On introducing other interesting flavors. Br like a shelfewers are brewers are like a chef. I can use rows for more chocolate or vanilla. I put all of those things into beer. Innovation is key. Such a pleasure to have you here. Thank you. Open up my beer form a right now . Never drink alone. No fun. Thank you for being here. I appreciate it. Founder of boston beer. Sam adams beer. A true legend joined five albright. We will see what he thinks of the time Warner Comcast merger and what has him speaking out right now. Growing up to be like your parents can be a really scary thing but almost a mathematical certainty. We will explain more when we return after this break. Breaking news. You will never do better than your parents. The conclusion of a new book. A social mobility which proves mathematically that social mobility across generations is a myth. We are reviewing this book. Particularly we thought sweden was a beacon of enlightenment, that there was good social mobility. Turns out, just as bad as the rest of us. Mobilityhe social actually mean . I am sure you have kids making more money. Generally it measures the ability to outstrip their earnings of your parents or your parents happen to be rich. Traditionally economists have measured this by earnings. Look at data that goes back 30 years. Officergreg clark, the author of the book has done is look back over centuries. He has taken last names and how often they show up. In the u. S. He looked at rare last names and how often they showed up the American Medical Association register of physicians. In the u. K. , he looked at rare last names and looked at how often they showed up at oxford and cambridge. Traditionally economists assumed they differ from country to country but the likelihood you would have the earnings of your parents was 40 . Saying 70 chance he will not move up. Reconceive variations across generations. Over across the generations, five even 10, what he found was you are likely your parents may have done poorly but likely to do roughly the same. Any distinction of what we can do to offset that. I would think new technology, education, perhaps adoption or something. Makes a big difference. All the things we associate with progress, capitalism, technology i have done nothing. Social america social mobility higher. Overall it is kind of depressing. We cannot fix income inequality. In the end, he advocates for saying he it is what it is. So the best thing we can do is mitigate income inequality. Thank you for that. You will stick with me that right right now. Talking about john malone closing the books on barnes noble. Shares getting smacked down today. 13 down 13 on the news because they need to find new allies to survive. Admittedly and Creighton Harrison join us. Edmund lee and Creighton Harrison join us. Why now . John malone has his fingers and other traps right now. He is messing with the cable industry. Is already investing in target. More things on the way probably. At the end of the day i think he is looking to cross its assets and has abandoned a share offer for serious xm. Looking across the assets and asking where are the priorities and where do i need to take cash away from and put it in . A black eye for john malone or a strategic move . Decided he hass had it and getting out. A lot of other investors moving on as well. Amazon, they cornered the market basically. You can trace the problems Book Publishing has had to the whole jump into ebooks in the first place. Just raise those took the model and undercut everyone. Jeff bezos. ] the Book Publishers say you are literally devaluing the content, we do not want that. They went to apple and said lets set the price and we take the cut. Therefore, that kind of model is hurting publishers and now hurting look stores. What is interesting about the pain barnes noble is going through is it does not necessarily mean the end of physical bookstores. Hasrprising rate of light been small bookstores. Independent bookstores have done better in the past several years. The thing were learning is the appeal of barnes noble was limitless selection. Amazon wins. Are a smaller bookstore, you can craft your appeal around Something Else. Specificlog in a very genre. Barnes noble another box store in trouble. Thank you. More flexibility. We will watch the company very closely. Coming up next, a bankruptcy filing that has billionaires redfaced and fighting over a few dollars. Details coming up after the break. Welcome back to street smart. I am alex still alix steel. The biggest bankruptcy filing in bringy and manage to Warren Buffett and Goldman Sachs together. Read childs reporting on the colossal failure of Energy Future holdings, a bankruptcy that even puts enron to shame. Most people have not heard of these this company. I covered the stress so everyone and their mother has heard of it. In 2007 they took the company private. Even then it was big. Everyone was like wow, ok. It was about investments. Natural gas limited. While natural gas was a major part of this, it probably would have been ok because the company had great hedges for a long time. The company has been buckling under this huge debt burden. What kind of numbers are read looking at here . Warren buffett already kind of walked away and said that was a huge mistake and regrets it. Sponsors are looking at one percent of the original equity investment. Earlier in the fall when they had the initial negotiations for bankruptcy a were thinking maybe 15 and that is turning out not to be the case. Is there any winners . It is really hard to say because it is so dependent on where you have bought. If you are in apollo tom of these people bought in to the unit and they want the keys to the castle. They think it is a good company and will send will end up selling it. We they do have the potential to make good money now. Where are we in the process . Where are we in the bankruptcy. I now everyone is at the table. They have brought everyone kicking and screaming to the table so we can make progress and filed this in a more orderly fashion because that ends up being cheaper for everyone and much more pleasant. Mary child of bloomberg news, we appreciate it. From seaworld to tom edison, the top 10 stocks you need to know about. The closes next on street smart. We are headed into the close. The dow relatively flat after being down 50 points. To go into positive territory for a while. The nasdaq taking the brunt of any selloff we are seeing. Time for that top 10. Andorra at number 10, reversing gains almost down five percent. Listener hours rose from 1. 5 million and february to 1. 7 billion in march. U. S. Radio listening also increased to over nine percent. I started using it is probably wide. I finally understood why it is cool. Started using pandora and you are going to get a drivers licenses. Soon. Jim bean is up. Seeking subordinated loans to help finance the purchase. The 16 billion takeover will be the Largest Overseas takeover by a Japanese Company since wereank bought brent substantially more in 2012. Number eight, intel. The ceo had his compensation cut by 40 , 9. 5 Million Dollars from almost 16 million in 2012. They will begin changing the pay structure this year im a requiring more executives to own to operatingnuses gold. Discovery communications down slightly after the company ronunced they would join howard and brian grazer to form a new studio that will create short webbased video. Number six, imax up slightly after news there will be 11 new theaters to existing locations. Eight of those will be in the u. K. , three others and Central Europe and israel. Number five, seaworld. The stock is down. A 13 decline in attendance of the theme parks. Shareholder blackstone continues reductions in the shareholding of the company. Lso of five back obviously seaworld continues to have issues. Has been trying to offer discounts to get people through the door. The movie called . I cannot believe anyone could go to seaworld and contribute to the slavery and torture of these there has to be Something Else going on there, too. I think that people look on the even before i had seen the blackfish, i was already horrified at what they do to the animals. After i watched it, i would never go again. Enlightenment never fails to astound me. This is brendan by the way. I am just here to make fun of matt. Number four, the manufacturer down. Con edison. Do not make me doubt it. Semi conductor and technology signed a threeyear contract with solar cell supplier. Under the agreement, they are expected to produce 660 megawatts of solar cells. Switzerlands secondlargest Bank Reporting losses. Credit suisse faced with more by the department of justice. Barnes noble down 13 . It will sell most of its stake in the struggling bookstore chain. Liberty media will abandon one of its seats on the board. You just heard the closing bell and our number one stock is google. The search giant is offering 330 million new shares today through its shock dividend through its stock dividend distribution. You just heard the closing bell. The dow is relatively flat. The nasdaq is the biggest loser by far. We will get some additional context with julie hyman. When i was reading economics reports after all of the data, relatively positive. Keep in mind the context of where we were, right . We were at a record close for the s p 500. We reversed the gains we had yesterday. The nasdaq was up about one percent yesterday and it is down one percent today. They were weaker than estimated. It does not matter. What matters is tomorrow and the jobs report. No one taking any big positions. It is time for the roundup. Julie and matt are still with me. Julie . Lets talk about the Supreme Court decision because political candidates are wasting no time, hours after the decision paving the way for a new gusher of political cash, they hit of donors for more money. He formerly served as the speaker of the texas house of representatives. He had already given the maximum amount for this years rational elections. For this years congressional elections. Barnes got some calls. He was solicited by two democratic members of congress seeking more money. The contributor will be able to spend 3. 6 million, 30 times the old limit. X yould give your ma should be able to spread it out and give it to many candidates. What the majority said was, we do not see any possibility of corruption so long as it is not explicit quid pro quo. They were not saying that either. To read it to me you . Spending large sums of money in doesction with elections not give rise to quid pro quo corruption. Exactly. There is not evidence that it does. They are not rooting for i think that is fair, and i think this will have a limited impact. The appeal of super pack money is so huge because it is so much more flexible. It is anonymous. You do not have to have anybody track what you are giving in candidates do not always do the things you want them to do. Why would you start donating to candidates when you have this vehicle that does exactly what you wanted to do and nobody can see who you are . Citizenam an american and i have earned money fair and legally, i should be able to spend it how i like. Off i want to support you if i want to support you unless it leads to corruption. Evidence that leads to corruption. I am like most of the rest of the country. It is entirely possible that i could be wrong and we will see money flooding back into these official channels. They are trackable. Entirely possible that this has nothing to do with influencing candidates. Way is to make sure we track that. It is still a free country. For now. Motors the company is building up its team to respond to the recall of small parts small cars with faulty ignition switches that are tied to 13 deaths. Mary barra announced they would higher ken feinberg, the lawyer who managed funds for victims of the september 11 terrorist attack, he was in charge of executive compensation. He is widely thought of as an unbiased middleman to go to if you are in need of such. You were down there in d. C. , right . Are these changes enough to reaffirm her ideas . Built. Rmula is being if something horrible happens and you are in charge of the company responsible, the key is, try and know as little as possible. Do not even talk about it around me. Whole bunch of famous allstars to try to help you out of it. A whole bunch of famous allstars to try to help you out of it. Ken feinberg, you can pay to bring in. I thought that was the most interesting part of the story because they hired ken feinberg. If an organization is going to pay out a lot of money, you hire Kenneth Feinberg and he tells you what those to whom. That is what they are planning to do. I wonder what the price tag is. Nothing even close to what the u. S. Taxpayers gave in the bailout. Is that a law for gm . Is that going to be painful . Compared to selling no more cars because the American Public thinks you willingly kill people . Isnt there also the possibility that the number of victims is going to go up . I would assume so. If you have a case you could tie to this and that could be lucrative, you will want to tie this to the case. Feinberg indicates there are litigation risks that we are not aware of. Michael lewis released his book we are still talking about Michael Lewis . Rallied. K has take a look at case e. G. Holdings. Kcg holdings. Intercontinentalexchange group over two percent. The discount brokers were down. Rumor, sell the news . Feel hft is so yesterdays news. Why did he choose to write about this . There is stuff in that is interesting to us, us as a proxy of consumers. No one understands how that world works except for the people trading on it. Book is not going to change anything because all it did was make me smarter. You already knew the scandal years ago. What about the people watching 60 minutes . If you buy a stock and then hold it, if you research the company, by it as an investment, hold it, hft what if you want to invest in some kind of mutual fund . Going back to trading, the risk for these companies is we would all be so outraged, there would be some sort of regulatory response. There is nothing in the book that was so outrageous that there will be calls to congress. When you look at how the discount brokers are trading there could be some Retail Investors are spooked by this. There is not really any clear reason for the Exchange Stocks to be up in the wake of this. We feel like we have been talking about this for a day, it will be interesting to see if normal people read the book, whether they will be making calls. Thank you so much for joining us. Up next, a true media legend. We will be joined by former nbc chairman. He will tell us what he thinks of the time warnercomcast merger. A fight for Autism Awareness. And his favorite tv show. The deal is almost done, comcast has agreed to buy Time Warner Cable. Ofjust needs the seal approval from the fcc and the justice department. It will be the largest u. S. Cable operator. Under his watch, nbc was transformed from a broadcast network into a global media powerhouse. , formerme is bob wright nbc chairman and ceo. When you see this huge deal taking place in the cable industry, what does that tell you . The thought process has been the cable industry should consolidate. That has been going around for a wild. For a while. Cable companies do not actually compete with each other. Makes for a Better Business if you can match some of those territories. It was inevitable that time warner would either require another big business or one would be acquired or time warner would get acquired. You are no stranger to these big deals. Do you think this will be approved . Will there be a sweetener . I think the chair the share price is a function a lot of buzz about it not being approved. It is kind of a drag. I think it should be approved. It would be very hard legally to refuse it. There is no antitrust issue in terms of the size. A lot of people from outside saying it will hurt programming. It is not about the cable business because they are territories. It would be hard to make that argument. The antitrust rules were set up to deal with an existing problem and to be able to deal with them when they happen. This problem has not happened. Here is not an issue it is inappropriate to use antitrust in a situation where all you were talking about are things that might happen in the future. Talking to some analysts about your tenure at nbc. Theyre pointing out the internet looks a lot like cable did when you took over. What would you do if you were in the internet world right now . Lot ofould do what a people i would do what a lot of people are doing. You want to cover your bases as well as you can. If you are a programmer, you want to have your programs distributed as largely as possible. Web the top or going on the , continuing to produce. It is a time to pick up the pace. I am on the board of american movie classics network. They have done a spectacular job. One of the finest programmers i have ever worked with. They are really good at programming. They are a Small Company and they are out there distributing around the world. They just went international. I assume you watch walking dead . It scares me too much. Apparently they have all died. Spoiler alert. Inning are we for tv . Comcast is a pretty broad media company. Produces movies, television, distributes movies and television. Telephone, internet, major internet supplier. That is the kind of place to be. That is a lot. If you keep paying attention to those elements, you will be fine. Is it hard to merge two companies that are that big . Merging the Cable Company is not that hard. Both companies have been in the business for a long time. The technology is similar. Bob, you are sticking with us. After the break, he will talk about his fight for Autism Awareness and what he really thinks of netflix. First there was carrie bradshaw, tony soprano, and then came the noble family. The hit series is back for its fourth season, but it is not the only show that millions are watching. This is newsnight. It is 1920 and Atlantic City kingpin celebrates the don of prohibition. Dawn of prohibition. We figured out a lot about your kind. Do you ever wonder if you are a bad man . Fulle world needs batman bad men. They know i saved the city. Click Bob Wright Bob wright is here with us. Your favorite hbo show . Boardwalk empire. I have not watched that one yet. I am fascinated with the prohibition period. I think the acting is spectacular. I kind of like the earlier episodes that are. Better. It has a whole lot of history going on. It is wonderful and it is brutal. I love game of thrones. We were talking about amc. Walking dead, what is your favorite tv show right now . I spend more time watching news programs than i ever did. News isy to stay more fascinating to me because i have more time to watch it. There are a lot of Great Entertainment shows. Amc has quite a number of them. Nbc has come back pretty strong. Abc has been there and cbs continues to be strong. The Cable Entertainment channels, usa is still very strong. Who do you think wins the content for . The streamers . The other content providers . I think it is going to be people can have a foot in both camps. They can have a foot in content providing and also distributing. There are many winners. You do not have to have 20. If you have one show that really works, you are a winner. Hbo happens to produce a lot of winners and that is not easy. Of cannot make those kinds judgments. You can have one solid hit and be a winner for life as a producer. As a distributor, you have to constantly enhance your effort. Hbo and netflix and netflix revenue are neck in neck. It is expensive to make really good programming. They are paying top dollar for programming. They have 33 million homes subscribers and the price is not bad and is a lot cheaper than apple. A lot of advantages. Much more with bob right after the break. Remember the days of total request live question mark total request live . Vuivo app oning the their devices. Now they can get it on amazon fire tv as well. O joins us now. What do you hope you will get with joining fire tv . We want to put our programming on every screen. It is really where we see all of the growth. Amazon and their investment in the living room and on television is where we see a lot of viewing activity. Global streams are on app. Would killmpanies for that growth in mobile. , in theglobal scale long run, the mobile phone is the settop box. The amount of people who will is always going to be much smaller. For now, we see a huge opportunity. We are dozens we are doing streams every month on apple tv, playstation, xbox. We hope that fire tv will be another big avenue for us. Bob, tell me about your relationship with the company. Doug morris and i talked about this project back in 2007 and universal music was interested putting a Satellite Service that would have music videos. We honestly did not think it could make enough money doing it. You have to write a lot of checks and that business. The royalties, of course. The team gets 56 of the gross. You have done it. The rights issues are extraordinarily awkward. You also did something we thought had to be done but we did not know how to do it, you got sony. You got a license with emi. You had to have a lot of folks in this thing. You have this big cooperative. We make a lot of money do we have a lot of profit . Not yet. When do you expect to be profitable. Right now, the focus is on becoming more global, investing more in original programming and building more distribution. We are not losing that much money, but what i am most proud of is in the last few years, we have invested over 500 million in programming. The 500 million back to artists and songwriters. Are you for sale . Never say never. I do not own the company. A little bit like hulu. Everybody wants to sell, but nobody really wants to sell. Maybe you will have joint ventures. Thank you so much. We do have some breaking news for you concerning breaking news for you. Jon erlichman . David letterman is going to be stepping down from his role in his latenight show in 2015. Have later today. Some of these tweets are coming out because letterman is taping his show for today and there was an earlier tweet from somebody at the taping suggesting that he was talking about it. All of a sudden, and we will wait for more news from cbs, we start to talk about the latenight battle. After we saw jay leno hand the baton over to jimmy fallon and all of the guessing games begin on what cbs may be thinking next for that timeslot. I never thought i would actually see the day. Jon erlichman, thank you so much. Xb, what do you make of that . I first question would be, is it true . Is it just going to be on his top 10 tonight . He has to sit down sometime. He does not have to do it now. Big loss fore a cbs . He makes an enormous amount of money. People have no idea how much david makes from that show. Maybe that is not an issue with him anymore. He is such a figure in the industry. Ves isn does les moon very sharp. Nbc has two very talented people in jimmy fallon and seth meyers. I am guessing the other people have contracts, too. It is not going to be so simple to pick a replacement. What about a woman running a latenight show . Amy poehler . Tina fey . There is nothing wrong with that idea at all. Both of them would be free to do it. They are not under that kind of a constructional and trucks rule limitation. Al contraction limitation. I do not know if tina would want that grind. When tv networks undergo this big shift in talent, what does it do for them in the short term . There latenight for 20 some odd years. You would like to think somebody would be imagery for the network for a long time. It has value beyond its own particular income. , you can haveod him there for a long time or have her there for a long time. It is really about the talent. Now you can do a lot of things with it. Look at Lorne Michaels and s l snl. Forshow has been on the air 52 years now. 52 years . I am kidding. Right is a media mogul, but he is also one activist. We will talk to him about Autism Speaks. T is lighting up the world of blue to bring a cause that is near and dear to his heart. April is Autism Awareness month. Nottill not we still do know what causes it and we need to do something. You and your wife started Autism Speaks after your grandson was diagnosed. What is the life estimate of these children . It is not particularly any different. They will get the same conditions, diseases, that we can get as they get older. There is no evidence they die earlier because they have autism. Issues haveistic other medical problems. The Biggest Issue parents have, a lot of parents say to me, they want to make sure they outlive their children. So they can take care of them. They do not have enough resources to pay for somebody to take care of an adult. It is a horrible disc and to have with people. What it is a horrible discussion to have with people. They do not fit into group homes in many cases because the way they handle themselves in terms of speech or maybe some disability is going you have to spend a lot of time working on it. The whole thing is research at one end, but then it is all the services. , it would be aue challenge for any family. Diagnosis, early treatment, early education, education, medical care, teenage years. What kind of cost is associated . The last estimate that i saw person. Million per if there are 3 Million People in you areed states talking a trillion dollars. A lot of cost in there because you are losing money. The parents are losing money, one person has to do about the job to stay with the child. What are some of the solutions . Is this something the government needs to be involved more heavily and for the funding . The private sector . It is all of the above. There are certain things the federal government can only do, which is major topline research, scientific research. That is what the nih does. One of the problems we have is the medical community is not heavily involved in autism because it has a urological Mental Illness tag on it. A neurological Mental Illness tag on it. They are overwhelmed. That is a big issue. In terms of the services, it will have to be from the ground up. We are trying to focus. Walkve 400,000 people who for Autism Speaks. Drivee to help them Service Response in their own community. We did it with insurance. 75 involvedtes, with insurance. Every one of these items in their lifespan under enormous pressure, including their own personal loss of income for the family. We are trying to give everybody. He tools, plenty of willpower families that have autism are used to extremely difficult circumstances. How are we doing on awareness . Very well. In fairness, some of the increase in diagnosis is a result of awareness. On the medical side and on the parent side. Awareness was our primary objective and we have done a lot and we have done it outside the United States. She is a fairy on sesame street and she makes good things happen for children. We are an official partner with sesame workshop. Autism, explain about about how we have to be nice to these children. They have been doing this so well for other situations. We did a psa. Thank you so much. I wish you all the best of luck. Thank you so much for spending the hour with me. Leisure to have you. Pleasure to have you. Pimm fox is here. The show is about space. I will be talking to the chief executive of the mars 1 organization. They would like to make a permanent human settlement on mars. The company also is going to be talking about the hd video of earth from the International Space station. All that coming up at 5 00 eastern. Tomorrow marks 46 years since Martin Luther king was assassinated. Stan moore will release a new single, they killed a king. It is such a pleasure to have you here. What inspired you to write the song . Was an inspired thing for me. Ands asked to sing the song it came to memphis and they called me and said, would you do this song . I said, ok. Memphis and i use musicians do not just play for anybody. When they heard i was coming in to do the song, they said what does it mean to you . On her. Honor. This is the most special thing ive ever sung in my life. There is a message there that im trying to peer phrase. Paraphrase. , at he was like as a leader man of justice, a man of peace. Paraphrasing what he would have said if you would have been here today. , theyhad been alive today would not have listened to him. Sam, it is so great to have you here. I look forward to wasnt into it. Looking forward to listening to it. We are coming up on 56 past the hour. Bloomberg tv is on the markets. I am julie hyman. People looking ahead to tomorrows jobs report, but we did see some declines based on worse than estimated Economic Data on the services industry. Little change for the s p 500. The dow almost literally unchanged and the nasdaq down about. 9 . Specialist says, can the vix remain this low . Jamie, it has remain this low for quite a while. A year ago, we were at the levels we are right now. We have been at those levels since 2008. Right now, we are sitting at 13 and the unusual thing we are seeing is traders are buying puts. The vix good mean even lower, rather than calls. It is the next ordinary level of complacency. The fact that people are not concerned right now. Also look at how much the s p 500 is moving. It is moving traders who are buying puts are saying picks up 13 might even too high. Of big is the other kind same you are seeing in terms of options activity . In the front month, we are seeing mostly put fighting as opposed to the call buying. A lot of traders are betting the vix good stay or move lower, could stay in this midteen area for a long time. What about your strategy . Are you on the bandwagon . We are the specialists in the vix. We try to stay as close to flat as possible. Traders see those as a pretty good value level. When you sell those, you want to be careful not to sell to many. If we have a positive jobs number on friday, we could see a quick move downwards. I know you are looking at a relatively short term time horizon. Is there any way to get a further indication of how long we should expect to see the vix . There is a vix future listed for every month. Or 17. August, 16 it is always dicey when you are trying to bet the vix can stay at levels which are the lowest we have seen in years. The futures markets reflects that uncertainty. Ok, jamie, thank you so much. The historic lows we are seeing. It. Ly appreciate for on the markets, i am julie hyman. At this is taking stock for thursday, april 3, 2014. Im pimm fox. Todays theme is exploration. Mars one wants to establish a permanent human settlement by mars by 2025. To hear my interview with the cofounder and chief executive behind this ambition ambitious endeavor. And a drone you can launch just by throwing it in the air. Our small to big segment features a standout device
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