All that and more. First, headlines with olivia stearns. The Obama Administration has extended the deadline to sign up for Health Insurance by one day. He begins january 1 at midnight tomorrow for most of the u. S. It was announced after high traffic for the online enrollment system cause a queuing system to deactivate. Bill ackman has shared Additional Research about herbalife with regulators. According to a letter to investors, he is pursuing the claim that it is an illegal pyramid scheme. His arty loss of as much as 500 million, betting against herbalife. A 1. 5 a bank has rejected billion dollars takeover proposal from mens wearhouse. They offer. Ignificantly undervalued is one ofall street the most anticipated movies of the year said to be released on christmas day. Dicaprio. Leonardo his rise and fall became the stuff of a legend thanks to the bestselling book. Bloomberg sat down with bill ford himself. Turned 26, im a 49 million which me off because it was three shy of 1 million a week. Wherever i went i brought insanity with me. Was this legal . Absolutely not. There hoping to get this cautionary tale. When i was in the bottom and everyone was writing on the horrible person, i was not as bad as people as i was saying and when i was on top i was not as good as people were saying. Want to place blame on anybody, especially a fictional character who appeared his looking sexy as hell and his 2000 suit. I think a lot of people bought into the notion that it is about making as much as you can as fast as you can and not focusing on who gets hurt. It is not true. I was taking enough drugs for a pride of elephants each day. I was not caught up in the reality. I am not making any money on the books or the money. The only way i would is if everyone got paid back. Until then, i do not want to make any money. A broker or a traitor, you. Re not creating your trading on the ingenuity of other people. Nothing is tangible attached to your profit. You have it in tunis to the money you make. You try to attach meaning to spending. You stayed on the path of creating value in focusing on the firm has opposed to instant gratification. Now by Jonathan Hanna spirit he is a partner at kirkland and ellis. He is one of the nations top restructuring will years. Help us sort through the liquidation of the firm. I want to thank you very much for being here. We were just looking at the clips delivered from the movie and also from an interview. Can you describe your role and what happens . Cracks we came in after the sec shut down. Tovey miller was brought in be the trustee under the security Investor Protection act. We represented him. Our first job was to go in and secure the premises. We went here. We have a locksmith with us. There were there was a huge trading floor. Huge offices all around. We went in and we took it over. We got all the tapes. You can hear what all of the brokers were doing. Our job was to go sort through that mess. Figure out what happened. Thise out how specific corporation could protect the customers and distribute whatever money we could find and get. You met most of the people involved in this, didnt you . I never met him. This was all through deposition. We met a lot of the young brokers. That is how we really heard the story about what happened then. It was very easy to see. What was it like to sit with these people . It was amazing. It is somewhat human nature. You had these young kids, some 20 two or 23. They were promised riches. We were told go sell the stocks and sell them anyway you can. They would get on the phone with elderly people with their iras into you have to buy the stock today because bill gates or Warren Buffett is jumping in. You want to get it before they do. They were great salesman. But they were lying. They were completely lying. When you would say did you know youre doing something wrong, the response was i was driving a porsche, i had an apartment in the city, i was living the life. I was not thinking about that. I think it was pure greed. Pure greed. You listen to the tapes. Any surprises . One were the stories they told to get people to sail and how hard they push. They did push. They took advantage of peoples desire to become rich. And all people, too. They were changing the iras. We would get claims that would come in from the customers that said they were defrauded. We would say we told them to sell that stock or to stop buying that stock. Will listen to the tapes in you when i hear it. Memories ofifferent people would have the psychological damage they had. When you sorted through the , didle of Stratton Oakmont you get anything about the regulators . Was there any oversight . Sec when they had inblems, they liquidated january 1997. The sec had been on them for a wild. He knew the tapes were there. This put them in place. It was very amazing. Knowing the conversations were taped, they still do not stop. They did it anyway. They thought either were not going to get caught or in their own minds are not really doing anything that wrong. You are an attorney. You have an experience not only in this particular case but in restructuring and a lot of financial services. Away feelingome how the business works . Most Brokerage Firms out there are good, legitimate firms trying to do their best. Theyre trying to do a good job for other people. People a while you get who start small. It gets bigger and bigger and so you cannot turn it around. When people start to do that theyre really making money. They are living the light. The life. Theyre doing the drugs. People get carried away. 20 firms you may have one bad one. You hope he had the oversight. It is hard to catch. When it is caught, youll people serve their time. Have you seen wolf of wall street . I have not. I plan when it comes out with a bunch of friends who did this case with me. Were hoping for the sequel because then we can be in it. Restitution when it comes to a case like this. It has to pay back hundreds and tens of million. I do not think it has been paid back yet. That was not part of our job. I have seen how they start launching their money. Will keep them on the run with his money for a long time. Do you invest without checking the brokerage . Do you insist everyone double check everything when you are with yourg someone financial future . A something seems too big to true, it probably is. If someone is saying bill gates is just about to buy the stock, it is probably not correct. Maybe call the sec or you. Thank you very much. The movie. Go see coming up, plaxo makes a big investment in Shopping Centers. You will meet the chief executive of edens necks. It is monday, time for mystery guest clue number one. He likes to say cheese. Last week we told you about blackstone moving to residential real estate. Investment in Shopping Centers. It is paying about 720 Million Dollars for a stake in edens that owns more than 100 Retail Centers along the east coast. Jp morgan and the new york state retirement system is injecting money into this. Tell me more is terry brown. Thank you so much for being here. You got an early christmas present, did need. Tell us what happens. Work for most of 2013 2013 to fund an investor to take out one of our longstanding investors. In a very successful run with us. We needed to find capital to grow the company. Business very vibrant plan. Fund 700 Million Dollars to replace the spirit we needed another 750 million to grow the company. You find blackstone or they find you. Had you come together . A little bit of both. We try to find the right partners for us. It is a very unique culture. We have had a great relationship. It was a challenge. We needed to find someone who believed in our strategy and our people, someone who could get with our existing investors. Described some of the specific shopping malls that are a product of this deal. We own 111 centers. A corporate level entity. Blackstone is investing in all 111 of our Shopping Centers. This is the first time they have done this. This is the first time they have made a core longterm investment in a company that is performing well and is going to be a longterm hold. As far as the real estate business goes right now, what kind of trends can you tell us about . In thes good especially Shopping Center business. We will be benefiting from a recovering economy. There are some questions as to how quickly it will be recovering. We are going to have significantly less new than we have had. Talk more about this idea that theres not a lot a new supply coming into the market because of what happened in 2007 in two thousand eight. The funding dried up. It is true. Levels not even approaching 25 for deliveries. Maybe some people would argue this is too much. Not enough of well located space. It has to be in the right place at the right time. It has to have the right design and the right merchandising. It has to be engaged out only with the Fiscal Community but with the virtual community. What do you mean . In ourgreatest trends business is creating the most opportunity. Online retailing. It is the single biggest opportunity over the next few years. It is things like being able to order online but maybe pick it up at the mall or go to the mann decide what you like in order it and it means it will be delivered later to your home. Absolutely. The whole Shopping Experience is being integrated. It is very difficult for retailers to even know where the purchase originated, whether it was made a home, mobile home, physical store. To the retailer they care about sales. Being able to of drop brands for the merchandising create a place that will draw people out of their homes. If you could add one retailer to the staple of all the retailers that youve got, what would that be . Would have almost all of the really great retailers in our Shopping Centers. First of all, i think we are focused on a lot of the expanding concepts of some of the very best retailers in our space. House. S like shop those are treating the best opportunities for us going forward. I want to thank you very much. Congratulations. Thank you. We appreciate it. Coming up, we will tell you about luxury homes that are being sold as legacy gifts. We will tell you what that means when we talk about the new trends in real estate with real estate executives from some of sothebys. Consider luxury real estate. Theyre the hot new trend in real estate. I want to bring in seven of the chief executive philip. Thank you very much for being here. I keepsay sothebys thinking of the auction house. Rolet you to describe what the Youth InternationalReality Division play. We have a licensed agreement with sothebys auction house. We bought from them about 10 years ago. We have a Strategic Alliance with the auction house. We work very closely with them around the world. Necessarily auction properties. I wanted to make that distinction. Lets talk about legacy gifts. I never use those for those terms used to describe that. What does that mean . The luxury market which we focus on, any properties which are sold for cash can be really designed as a gift for a family. It is almost essentially were someone buying an expensive property in colorado may be buying it for the benefit of the entire family. Is that a trend . We have seen it. It is nothing that has happened just recently. Thetarted to see it over last number of years. What about the prices . Are they any different than what they were . Is 100 25 . We have some recommendations. The threestory penthouse. For 125 million. It has the original ballroom with magnificent views. It should come with the fabulous views. This also come with a providence . There always interested in where they came from. What about Something Like this . It was owned by a wellknown stock picker who unfortunately died fairly recently. From lady fairfax from australia. Lets talk more about some of the other properties. A you are not interested in penthouse, what about San Francisco . We have a recommendation for San Francisco. Theres the property with multiple bedrooms, a small bath overlooking the Golden Gate Bridge for 7. 5 Million Dollars. Nearly a million. It sounds like a bargain. What about Jupiter Island . Jupiter is a very famous place. Is a popular spot. A magnificent pool. 200 400 feet on the ocean. For 70 million. 72 million. They are looking for sports for activities. What are they looking for . This is whether it is golf, ski, waterfront. This is what they are looking for. And manyfind this different places. They may not be searching for a specific location. It would be a lifestyle. Is anything that is more popular now whether it is a ski lifestyle or those that may have beaches or warm weather . What is the trend . The waterfront is one of the top lifestyles. Skiing is as 12. Is as well. Inany new states that are this legacy . It is not only aspen. It is tell you right. It is banal. It is beaver creek. Telluride, vail. It is beaver creek. Today have to salve have the same level of amenities . Private jets . They all do enjoy some similar amenities. I want to thank you very much. It is 26 past the hour. That means it is time for on the market. The dow jones adds 73 points. At 1827. The nasdaq gained 1 . I and him fox. To olivias stirring. It looks like Holiday Shopping got off to a good start in november. U. S. Consumer spending rose by the most in five months. Purchases in greve have 1 after a gain of 4 10 of 1 . Tiffany must pay swatch 449 Million Dollars for a breach of contract. It involves an agreement that the companies had to develop under the tiffany brand. Jack dorseylected to join its board of directors. He is an independent director effective immediately. He still will stand for a election at the meeting. Those are the top headlines. Thank you very much. Back by popular demand. Bashir is the world top gamer. He is here to discuss getting into the holiday spirit from the hottest games to Stocking Stuffers as well as how as gaming can jumpstart philanthropy. Yes. To mention that you have a very good social following. You will explain what that is. My twitter feed was flooded with a variety of questions and responses to your last appearance. Heres a question for you from one of your interested followers. What is your endgame . Where are you going with this whole gaming for good stuff . It is a website that i started that lets them donate games. They can unlock the games. Almost 10rate million. Even if we fall short by the end of the year, we will have this feeling up. Idea once again of donating games. How do you donate a game by going to a website . Them. Contact we put them. When people donate, they walk. The donations go to watch . They all go to save the children. We do not take any cuts, nothing. Not at all. This is a technological marvel. There is no middleman. No one has to worry if it is going to the actual charity. Indeed. Do you know how may people have anticipated participated . Around 100,000 people donate it. Theres also the industry that and other Gaming Companies helping out. That is why weve managed to raise so much. Twitch, razor. What was the last one . Urse while we are speaking with you, we will see how far we go. We know that one of our producers is looking right now games for good to see if we can get to the 10 million mark. Aboute what is going on the vegetarianism. These are other twitter questions that have flooded. They want to know about you being a vegetarian or a vegan. Know that there is sometimes controversy around that. I just like to choose to eat vegetarian because it is easier for me. Thesele you are paying videogames. What is hot right now in the world of consoles . Er. I think skyland it is a new type of you by the game and you can also buy characters ande you can play as them. When you connect them to your console, you can play as the characters. It is becoming a very successful model. This is a combination of off line and online. You can actually buy these little statues and the toys. The gamean play online. Indeed. Children love to play with figurines. To play with those figurines. That is number one. Other than sky for us, what about the super hexagon . It is a game i love to play. It is an action game. It is pretty hard. It is nice in between. You also have field runners that i play on my phone. It is a power defense again. It is one of the most respected ones. You can play it on android or iphone. Infinity blade three which pushes the graphics on the phone. It comes close to a console graphic. For people that maybe do not know about console graphic games, is there a huge difference in terms of the clarity and what you can do on these things . That isve rise really pushing the graphics very far. Realistic. It almost looks like it is real. Thato to the big movies hollywood makes, it is the same level of intensity. For those that are not gamers, can you describe how people can play against you . And is not as though they can call you up on the phone and say we want to have a clash of the titans against you. How can people play against you . Fundraising day in and day out. We raised so much. People can tune in on my lifestream and watch me. They can donate to charity. Thinking ialk around am the best gamer on the planet . People were calling me that. It started as a running joke back in the day. They caught on. People still call me the best gamer in the world because of the charity work we are doing. I can see a little bit that you do have a gray hair. Not much at all. When did you start all of this gaming . How long have you been doing this . What when ill when i was eight i started playing pong. Where was this . It is one of the first games that i played. It is one of the first games that went really big. I kept playing and also studying. I was always good at school. School toer skipped play video games. No. Parents thatu tell are dealing with children that love video games . Responsibly. Lay keep their focus on the books. How about playing during the rate . I was not allowed to play during the week even though i was having great grades. It depends from parents to parent him what they decide. There is a future perhaps for people in all of this. Any idea how much money you been able to make doing this . The gaming industry is bigger than Motion Pictures and the Music Industry together. It is growing every year. I have been making a lot because of sponsorships. There is a big future in it. You are the Leonardo Dicaprio of gaming. I want to thank you very much. Thank you for having me on the show. The world top video tamer. Getting into the holiday spirit by gaining new spaceborne gamingforgood. Net. What my next guess have to say about selecting the best champagne to compliment your celebration. I am talking bubbly with a master of wine. That is next on taking stock. The mystery guest clue number two is the king of a new york classic. No beverages more synonymous with celebratory times and fresh starts then champagne. To make sure your bubbly selection does not fall flat, thehappy to be joined by fourth female in the world to earn the International Title of master of wine. She is also the author of the book the one minute wine master. Sees always a pleasure to you. Before we do the individual champagnes and bubbly, what is a master of wine . It is an International Title. You have a fourday examinee had to identify 36 wines blind. It is four days of essays. After that you have to read a dissertation. Ba of not just like in mv wine. It is an International Title. That must give you a little bit of confidence. To give us an insight into the world of bubbly. With you like to start off some nonchampagnes and work our way there . There are some very affordable bubbly this time of year. This is from france. It is not champagne. It is a [indiscernible] made with a little bit of chardonnay. Is traditional methods. This is a really great value at about 12. 12 for a french sparkling white wine. Yes. Do we have processed though p rocessco. It is causing californias purple to decline. It is not declining but is growing less. Why does it have this image . Theyre doing a lot of campaigns. It is italian. It has to be good. Is it because of the way they have marketed this . It is not just an expensive. Its own thing. It is easy to pronounce. People love how it tastes. It has pear notes and softer beads, baubles. It is really quite nice. This is from italy. Were talking also about 12. This from newe mexico. Wine a little darling of tasters around the usa. It is from new mexico. It is gruet. It is about 15 to 20. It tastes almost like champagne because you have some of the yeastryy notes. It is from new mexico. That is right. Lets go all the way to france. The real champagne. In 1785. Founded a gorgeous red color. It is one of the brands that you give the hostess when you go to new years eve. It is fantastic. Mostly known for the canon film festival. Forlyn monroe is known wearing chanel number five at night and then woke up drinking eidsieck. It is a very bold champagne. It is from red grape varieties. It is lovely. Is one of my favorites. And has a story about it. You can google marilyn monroe. That is right. That is about 40. One of my favorites and then the one that i had my wedding is charles heiseick. If you can call a champagne masculine, this is like a man toman. It is quite bold. It is the rich end of the section. It is 55 a bottle. Eidsick had a history with the united states. He celebrated a 160 anniversary. It is part of denver. He owned part of denver . Yes. It had to do something with some try of debt that some and to pay him back. He was known here in the united states. He is widely known for bringing highquality champagne to the united states. I also noticed that it has the blue label. The marketing is very important what the bottles look like. It is. I think the blue here i guess is a little bit more for your investment banker or your doctor. Heres a question. When you bring a gift for new years, should you in any way encourage your post is to actually open what you brought with you . If youre going to do a sparkling, it is hard because it is cold. If you showed up with chilled that is like youre expecting to open it. If it is warm, it will explode all over the place. Be cold. Uld not what temperature should these be served up . If you put in the refrigerator, it is about 38 degrees. It is little bit too cold for sparkling wine. You should take it out a little bit and let it warm up probably about 45 minutes. You want to taste some of the flavors. Is a matter what glass you use . In france they use actual wine glasses. They want to taste the flavor. Flutes traight straight flutes and the trumpet flutes. Those are very fun. There are a lot of different options. There is a champagne saucer. It was rumored that it was molded after Marie Antoinettes breasts but it was actually invented 100 years before. Of fun, too. I want to thank you very much. Master of wine, also the author of the one minute wine master. Coming up, we will meet my mystery guest and give you the third clue. My mystery guest has a foothold on black bush. Flatbush. Oh yes. It is mystery guest monday. I have no idea who my next guess is. My producers have given me a few clues. He likes to say cheese. You can say that my mystery guest is the king of a new york classic. And he has a foothold on the flatbush. That would mean brooklyn. Lets bring out our mystery guests. Great to have you with us. It says flatbush. I soon this is brookland. Correct. Does it have to do with anything and how it connects with the cow . So you have something to do juniors cheesecake . Not many places. I have to think that you must be associated. Are you the owner . Guy in charge. Now i have to remember. I member it was like three generations in the family. I think it was like your grandfather. Was he the guy who owned the business . Writes. He owned a bunch of other restaurants. He lost them. I have 40 seconds. His last name was rosen. Howard . Was he harry. H. I knew it was in you are alan rosen. Tell people who are not familiar with brooklyn, what happens at flatbush. My grandfather first open the restaurant there in the 20s. He ran it until 1949. He went broke. Election dayrs 1950. It has run for 63 years. We first opened he said if were going to be a grass restaurant we have to have great cheesecake. He went out and tasted different cheesecakes. So come back to the bakery with his first baker. They hit upon this magic formula that they both love. The rest is history. The cheesecake. You can get the cheesecake. Otherwise there wouldnt be here. Cheesecake history is made all over the world now. It is. Inhave cheesecakes in tokyo new york in several locations. We are very fortunate to be part of a lot of peoples holidays. I do know how you got me here today. And must be busy. Talk to me about the business. In douro is now a restaurant. I just recreated it in my eyes right on 56 and third as a modern American Girl without cheesecake. No cheesecake . We do have cheesecake ice cream. Inspired you to take your grandfathers heritage and create something new with it . Tribute to to pay the legacy of my family in the restaurant business. My dad was in the business. My uncle was in the business. Myself. My brothers. It is the only thing i or he ever did. He came here from the ukraine. He was a soda jerk and build something into a real iconic new york cheesecake. Were real proud of it. I wanted to pay tribute to what was the predecessor to that. What are some of the characteristics that you learned through real experience that maybe you do not learn reading about . You have to work real hard. I tell my son, your debt is not very smart but he works real hard. You have to stay true to what you wanted to do. Whether it was have a great cheesecake or have a great restaurant with great comfort food. To it. To stay true you got to keep pushing it. Weve also got a pretty big. Ollowing president obama recently stopped by. We were fortunate enough. Can you divulge what he had . I had this cheesecake. He is one plane cheesecake. This is his first time. He had had the classic. Then he had two blackandwhite cookies. You got to finish new york off right. Do you have a favor . I like the original classic. Im a purist. I like the original new york cheesecake. Well done. What an incredible journey. All right. Who knew. It is 56 minutes past the hour. It is time for on the market. S pdow jones add 73, the 91827. The nasdaq aims 40. That. Live from pier three in San Francisco, welcome to the late edition of bloomberg west where we cover the Technology Companies and Media Companies changing our world. Our focus is innovation in the future of business. Its get straight to the rundown. Has a deal to sell the iphone on the worlds a guest carrier, china mobile. But how big is it really question mark we will discuss area the twitter