That it becomes more and more clear to me and erik that the future is coming at us more than the experts are predicting. That means the economic consequences are coming more quickly than a lot of us are expecting and makes the discussions for today all the more important. Thanks very much. [ applause ] thank you all for joining us this morning. My name is melissa carney. I have the privilege of moderating our First Panel Discussion this morning. This panel is going to take the premise that andy and erik laid out for us, that there has been rapid technological advance particularly in the information center. We will ask the question what does that imply for the future of work, the future of workers and the nature of employment in this country in particular . As we tried to lay out in our hamilton project framing paper there are a lot of views on this topic and in particular if this will be good or bad on that or how good or bad on that for society. Fortunately this morning we have a real
Congress will raise the debt ceiling by the october 17th deadline. Monday the dow fell 137 points the nasdaq lost 38 and the s p 15. Gold added 13 dollars and oil lost 71 cents. Treasury secretary jack lew is scheduled to testify on capitol hill thursday about the dangers of failing to increase the debt limit so the nation can pay its bills. And the madoff 5 go on trial today. The are 5 employees who worked in the Bernie Madoffs inner circle but are pleading not guilty some claim they were unaware of the multi billion dollar ponzi scheme. Jim richter of Performance Trust has his eyes on the bond market for us today. Good morning. Is the bond market on edge over this Government Shutdown . Or is it not that big of a deal. Good morning angie. I would say its not that big of a deal. Over the last week or so since the shutdown, bonds have rallied a little bit over the course of the last week but for the most part there has not been a whole lot of volatility in the bond market. What would yo
Theres work and it is not a skills gap. Well show you what else is being factored in to that equation. And no fair, perhaps . Well, a big change at big blue. Ibm changing the way it pays down its 401 k . Will other Companies Follow suit . Tyler mathisen, my partner, who is always fair, always working, and is always a work in progress, according to this, is at new york stock exchange. Hi, ty. I am the ultimate work in progress. Thank you very much. Despite the assessment from the speaker of the house on the fiscal cliff, the fact he says there is no progress being made so far, the dow sort of playing past it. Right now the industrials up by 46 points at 13,120 and change. Apple is part of the nasdaq. Apple down 14 a share. Another 2. 66 today as scott mentioned a moment ago, 50 billion in market value shaved off of apple this week alone. Lets begin with those comments just 24 days to go until america confronts the fiscal cliff. House Speaker Boehner coming out earlier today and saying n
Point of earnings season. A good start. Earnings beat for microsoft, despite falling pc sales and once again, its all about the cloud. Amazon reports strong sales growth. Who cares about margins. Customers dont blink at a price hike for prime. Drum beat of new services continues. Analyst notes this morning are pressuring the stocks. Starbucks up, earnings as analysts expected. Exclusive with Howard Schultz ceo and chairman coming up, coffee, Digital Payments and why lunch is next. Ford is slipping despite strong sales. Profit did miss analyst estimates. Fords margins hit by higher production costs. Shares are dropping. Well hear from bob shanks. First up, microsoft did Beat Estimates by a nickel, fiscal had thirdquarter profit of 68 cents a share. Company was helped by momentum in Cloud Services as total commercial cloud revenue more than doubled in the period and last night during his first earnings call, nadella spoke about betting on the cloud. We will continue to invest in our clou
And Navigation Company for 21 per share. Pointkeover value is one 5 billion and alibaba has been trying to expand its services. It will allow alibaba to pete withbaidu maps and other services. Sales tour is believed half of the office space in the tower. It will be renamed cells first tower and the company will pay an average rent of 85 per square foot which is higher than the rent in the peak of the. Com era. It will be the tallest building in San Francisco once its completed in 2017. Sony is telling consumers to laptoping the biofit because the battery can overheat. There have been three cases where the panasonic made battery caught fire and this comes as sony prepares to sell its bio business. Been bouncing around today. It is flirting with small gains and losses after huge selloff yesterday and it has been a very rough month for Technology Stocks with the nasdaq topping about six percent. We have seen a wave of techipos but the question is, will the selloff give other Tech Companie