United airlines, jeff smisek. Airlines are very complex businesses, first of all,. And they have very different fleets. They have different facilities. Rose different routes. Different technologies, different routes, different cultures that you bring together as well. And in many cases, underinvestment that you have to do catchup investment on just to bring to the state where you need it to be. There are also theyre also heavily unionized, so youre dealing with labor unions and individual contracts and joint contracts. And change is hard. Even when change is good, people resist change because its difficult to go through change. Rose kutcher and smiesec next. Captioning sponsored by Rose Communications from our studios in new york city, this is charlie rose. Rose Ashton Kutcher is here. He is, as you know, an actor, but you might not know that he is an investor. In 2011 he created a Venture Capital fund called a grade investments. A grade has invested in spottify, uber, and four square.
Merkel and others committed to some day doing the kinds of physical transfers of Banking Units they need. And there has been some Real Progress even off that cleanup. But none of that is going to offset the unemployment numbers, barred from that the lack of investment, the constraint on demand from the austerity programs, the feedback in europe. So, again, it is Real Progress, but thats not going translate to growth anytime soon. When you say not going to translate into growth, what is the outlook . To me, what ive been saying for a few months is that europes past is bounded from below and from above. Weve ruled out the worst of the crisis, thank god. But the austerity, unemployment and continued downward wage pressures put a tight ceiling on growth. So germany is growing less than 11 . France is toying with recession. Spain and italy are going to be in actual recession and i think the imfs latest update is much closer to reality. I still think they the only upside surprise i can see h