You also have to stand up. Just because some of the comes in and says you should change the business model, it does not mean you have to go do it. That is what leadership is all about. Him and confidence in his stockholders have confidence in him, they will let him go and ride with him through the tough time because yeah shown in the past that he can do it. He is not going to make all the right decisions, but longterm, he can keep going. The Life Expectancy of ceos in america is 45 years, depending on how you measure it. Social media puts an instant referendum on improving. Everything. Things are different here. Still, Great Companies like Goldman Sachs and other big banks here have gone through good times, bad times. They have regulators that are rational, irrational. Markets that they could control, markets they could influence. Stephanie are you saying that there are some markets that Goldman Sachs can control . Mike no, but they can control how they approach those markets and he can put in place the right people and the right systems and which businesses to go in and which businesses he has confidence in. It is not everything and he has to make those decisions. Look at thetime, history of Goldman Sachs. On balance, they have made the right decisions. Not everyone, but on balance, this is a company that is still going. Lloyd on activist, and has forced people like myself and others to engage shareholders more than they have in the past. When you engage shareholders, you better have something to say. To the point that activists are trying to stimulate shortterm gains, you are in a position to say, talking to your own shareholders and persuade your shareholders that the shortterm gains is a sacrifice of longterm success. You make your case to the shareholders and they make their case to the shareholders. It is a market and it is not a bad thing to have that. Stephanie is it going to affect your outlook on the economy the moves you make with your company, how you advise your clients when we see this Interest Rate hike . Lloyd i think it will be jarring that we see an Interest Rate hike because we have not had one for some time. I think people get out the smelling salts, take a smith, and recover. Because when we have that first hike, the fed has already suggested that it will be very conservative at the trajectory of future hikes. Ratesend up with interest at. 5 , or if we went over time againstear future to 1 the growth rate, it will only be because the growth rate is a trend growth or maybe even higher it will still be substantially easier for financial conditions than we usually have. Is a funny set of circumstances that make Interest Rates so low growth one growth is so embedded. That is because the uncertainty that the growth is really truly embedded. He said would rather take a risk theng rates to soft fed would rather take a risk on having rates to soft and longer rather than running the risk of all they have accomplished and where the economy is now. Mike you can also argue that because congress is so fragmented and paralyzed that we have no fiscal policy and the fed has no choice to do things that it was not really designed for and i do not think Monetary Policy is the right way to go about it. But if nobody else is going to do something, they feel obligation that they have to do something. Having said all that, there does seem to be a lot of job creation. I do not know any businesses personally that will build a building because Interest Rates are at. 25 versus. 25 . Policyrest rates and tax are the guiding factors in terms of whether an investment make sense or not, youre making the wrong investment. The fact thats fed action almost seem so important to investors, or shortterm investors is that the right move . Mike theres no question. There is question that low Interest Rates have exacerbated the wealth gap between the poor and the rich because the rich have assets. That is what is being hiked here because of low Interest Rates, whether they own stocks or real state or whatever the case may be. That is a very big problem for the country. And you do not solve the problem as the populace were argue by taking things away from the ritz. You solve the problem by giving opportunity to everybody and by creating jobs. Some the policies are missed dollars misguided. Ive never been in favor of raising the minimum wage. I think you should raise the income tax credit, which does the same thing for the same people, but it spreads the burden across all the taxpayers rather than just a small number of business people, who the inclination would be to cut back employment. Income tax credit does not cut anything that. Lloyd i would cities data points take say that these cutish in look terms of policy. Since the fed is data dependent, the next data point takes an outsized importance. That is just the way it is. Stephanie we are talking policies and a fragmented congress. We are coming up on an election. Is there a possible candidate who can help us get through this . Many of us put our hands in the air when we look at washington. Were just going to be in this gridlock forever. Is there an opportunity to get out of the situation . Mike this a lot of choice if here. It is a very long way from now until the primaries. It is a year from the election. F the people running today most of them will not be there then. Theyll be people there that arent there now. There will be issues talking about that we never thought about. All the gossip that you read about every day in the paper will go away and be replaced by something else. The press has to have crisis. They have to have a story, excitement, failure, scandal and that sort of thing. Theyve always been creating new things. Stephanie as a businessman and voter, what for you is the most important issue . What do you care most about . What i care most about is not a single issue. Its a culture and a course of dealing. I think this country has very diverse interests. And i think what i would like to see is people who go to washington not with a set of instructions to never compromise, but you go to washington to cover my spirit. Could you imagine if this country, which has vast sectional differences, a grain south, industrial north, different states or colonies with different interests, some religious, some commercial, getting together and forming a country and that is if you went to the convention and each one came with a mandate and commitment to stay on the fringe of what his specific electric commanded together you would have a country. You would not have a country. Ive confidence in the republic. But if it caps on like this, we would not have a country now. To me, i like to see i am for the moderate that is open to compromise and coming out with a stable set of crystals. Stephanie it sounds like you are asking Mike Bloomberg to run for president. [laughter] lloyd theres a lot of focus on new york billionaires these days. But my favorite one is not running. Mike cap remise is not a bad word. Compromise is what democracy is all about. You get most of the people who get a good percentage of what they want. A handful of people get almost nothing. And that is the way we come together and move. But stephanie, we keep thinking the wrong thing when we take the elected leaders, practically president of the United States. These are not policy jobs. These are executive jobs. You have to pick somebody who knows how to run the railroad. Blocking and tackling, making sure that when you throw the switch, the lights come on and when you turn the faucet, the water comes out. At the federal level, you have to make sure that we control our borders and we get the right leadership to get the right weapons for our troops and get great people to come and work as secretaries in all the different cabinets. Policy is terribly important. No president or governor or may or can have all the policies themselves. Theyve got to get people to come and help them formulate them on all the other topics. That is what an executive does. Goldman sachs is a great form not because Lloyd Blankfein makes the decisions, but because he gets the right people and he gets them to Work Together and he knows how to promote and discipline. That is what we need at the government level. Stephanie but lloyd lang find does not need to get the people who run the railroad of proof. What blankfein does not need to get the people who run the railroad approved. Mike thats part of the job. Own already have their government or will a power, but it is the executives job to whyain to the legislators his or her policies are the right one and bring them along. You do not go and do a poll and ask the public what they want and then try to take them there. That is leadership from the back. You are elected to go and say this is what im going to do. You got to convince people to come along with you and have the forces to get us all there. Stephanie does it not disappoint you, given what populist opinion is, there are qualified and talented people going to government and they cannot get confirmed into those positions because of this . Mike that is the executives job to get congress to come together. You trade, your bride, you threaten, you control. You do all the sorts of things, the same way you run to your kid. You said your kid, clean your room or you do not get your allows. You say to kit, do your homework or you cannot play angry birds. You say to your kid, youre doing a great job and Work Together. People interact on a lot of different ways. It is the executives job to do that with congress as well. Im a believer that are congress has been fractured for the last 239 years. It has extreme left an extreme right. We forget history so quickly it changes. It is still there and that is what makes it could of should do. If youre looking at a president ial candidate, what you should do is figure out who will be able to do the blocking and tackling an attractive people. Because that person is not going to make all the decisions for if that person does try to make all decisions, then you really have a problem. Lloyd theres a cycle of politics like there is a business cycle. Things get all tied up and politics and its poisonous. People are now saying that it has been horrible. Of course, it was. How many people have never said it is this bad in the United States . By the way, we did have a civil war. It has been bad and even more recently. With have apartheid and other errors in this country. There will be a cycle. By the way, its not just the politicians fall. Its electric. The electorate is putting people themfice who appeal with with the commitment to not deviate from an extreme position. That is impossible when the other person does in the extreme position to copper was on. At some point, people get frustrated. Nothing will get done and someone will come up with the novel idea of going to the voters and saying, if you elect me, i will get something done. Even if the cost of only getting 50 of our agendas through, but at least well get something through. You know something . That person will do well and it will caps on like a new fashion. The cycle will shift again. Stephanie you talk about new yorks favored billionaires. Your now on that list. Would you want to get into government . Lloyd i want a lot of list that i do not deserve to be on. Stephanie would you like to get into government . Lloyd you know something . I have a great job. Any job has with it a lot of interaction with lots of people. And a lot of influence. And a lot of participation in the forces that are helping to shape the economy. So i love that. Can you get that same satisfaction from government . I think mike has been successful in both areas. I bet you he had better influence through his position in the government. When i think back, just small things, changing the rules on smoking. How many lives were saved by that . People dont talk about that. Will be an attractive thing to do, but a very unattractive place to get to pick. Stephanie a very unattractive place to me would be good financial industries. What would your advice be from a cultural standpoint . Thanks have made their way from the financial crisis to where they are today. Goldman sachs has put together the 10,000 Small Business initiative. We are salivating the American Dream right here in this building today. But if i want down the street in Middle America today and said, what do you think about bankers . Still, the opinion is so negative. How does that get changed, mike . Mike we have been throwing the money changers out of the temple since jesus is dated this is not new. Nobody likes the banks. They get terrible pr. Im not sure there is a way to change that. I think what they should do is be honest, enhance our growth, be great corporate citizens, do the right things, and not be too sh about bragging about it. You have to understand that they are not going to like this industry. The pharmaceutical industry has the same kind of pr problem. Lloyd other than to a disease. Cure a disease. 85, weow we died age must be doing something right. Look at it. The banks have finance growth. How beautiful today have education how may people today have education and a roof over their head . You have to look at this. You have to learn that people are not going to love you. Deep down inside, do they really hate you . And a lot of it is creation of. He press lloyd in the history of america, people do not like concentration of power. It took us we went through the whole 19thcentury with an economic crisis every 10 years even to have a central bank. A lender of last resort. We do not like people in this country best people in this country do not like concentration of economic power. Stephanie today is certainly about doing the right thing to. Generally, thank you so much. We have to blame it because mike continues to blame the press. Send it backp sen to you. Matt you did a great job. Great to hear from lloyd lake fine and Mike Bloomberg on a number of issues. So much issues and is there. I think stephanie will be there for a long time. A great conversation that will be posted on bloomberg. Com. It was really interesting. They were both asked whether or not they would go into public office. Offer mr. Mayor bloomberg, whether he would go back to public office. We have someone else speaking right now. We have coach Bill Belichick. He is speaking live at gillette field in boston. Let us listen in. Bill i talked to the team every day. Have you spoke to tom brady . Bill i talked to team every day. What is the focus about staying daytoday at the beginning of this Training Camp . Bill no. What is your potential message . Bill i just gave it. Coach, owner kraft has said that the nfl is taking this court. Does that mean youre going to go to court with this . Bill you are going to get ready for the football season. It starts today with our conditioning runs and all the players that are in here. Were going to get ready for the regular season. Whatw would you describe kind of Training Camp will be like . Bill spring cancer teaching caps. We have a lot of reps for everybody. We talk a lot of football. Now we have to go out and practice on an individual basis. They will eventually be on the pad level. The timing and the execution levels are low but different. Situationally different from what we did in the spring. I think everybody can learn a lot from the spring. I think the veterans learned a lot. Is the start of the season. It is the preparation for Training Camp. There was patriots coach Bill Belichick. Clearly not enjoying that press conference. Both he and patriots owner bob kraft have been speaking today about the fourgame suspension for star cornerback tom brady that has been upheld. Matt Bill Belichick kicked off the press conference saying, its great to see you all back here. Clearly, not meaning that. You cannot believe anything he says after that point. It is interesting that the patriots owner is really angry at the nfl about this and talking about the fact that he should not have put his faith in the nfl. Should not have put his faith elite and should not have put his faith in Roger Goodell. I think Roger Goodell council on that support when he has issues counts on that support when he has issues or any other kinds of issues. Olivia good dell leads the team owner support. Matt he is a very influential owner. Interesting to watch what is going on there. Tom brady apparently destroyed his phone. He said he did not do that to stop information from getting to the nfl. Olivia he actually posted on his Facebook Page this morning a very steamed defense against his fourgame suspension. Matt let us look at the other top stories crossing the terminal at this hour. Fewer american side contracts last month. Pending home sales fell 1. 8 in june. That is the first drop this year. Economist had forecast sales to rise. The Housing Market has shown slower growth. That is due to tighter lending standards and a limited selection of properties on the. Arket the more jack dorsey kept talking, the more twitter stocks have fallen. Twitter shares are down 14 . Briefly rose in afterhours trading yesterday after twitter posted secondquarter revenues that beat estimates. Fell after shares jack dorsey started talking. Jack we have not yet had meaningful impact in growing our audience and participation. This is not acceptable and we are not happy about it. Over the past few weeks, ive had a chance to get it deeper understanding of where i need to focus our team. Numbers barely budge of the past few months and few at the half check twitter every day. At mastercard, secondquarter earnings still matched estimates. Wheregs fell overseas mastercard generates most of its revenues. And theres no sign that u. S. Customers are saving money because of cheaper gas. They are apparently hang down credit card debt. Olivia policymakers are wrapping up into a twoday meeting. And their statements may give a hint as to when the fed will raise Interest Rates for the First Time Since 2006. Economists that we have surveyed here at bloomberg say there is a 50 chance of a rate hike here in september. Back to twitter. Earnings,condquarter but shares are plunging as executives told analysts not to expect any meaningful growth in users anytime soon. Matt brian wiser covers twitter. He joins us now on the phone from portland. Brian, it seems like wall street is giving it a lot of credit to jack dorsey for being straight, but still selling shares. Situationsically the i dont know the . I do not know theyre giving him credit so much, but i odor. They like the canned investors are ultimately selling because the user numbers. I would argue that is vastly overdone. Hand, when the company says judges against our ability to grow users, that is a fair, on the part of wall street by saying you did not deliver on what you said he would deliver. On the business side of it, if they only had half the user base they currently have, this is still powerful foreign advertising platform. The business is still strong. Olivia i totally agree with that. They still have a client base that is the size of the u. S. Population. You think that the valuation justifies that as such and we are just overreacting or hyperventilating over user growth . Brian again, i think that when the company says judge also on this and they pound the table on users for the past two years the face of evidence to the contrary about ubiquitous appeal or left there, i think it is understandable. The street has a hard time looking at the business any further than the quarter that just happened. In that context, it is understandable why wall street reacts the way it does. Again, i think it is significantly overdone. Sentiment wise if nothing else. Olivia what do you think is the key thing twitter needs to do to start growing users . Brian lets take a step back. The first thing they did to do is focus on the good part of the story which is to say that they are running a pretty Good Business and have done something pretty remarkable, which is turning twitter to a commercial enterprise in the space of four years. They become the number four player in distal digital advertising. Google,has been facebook, yahoo , and twitter. It has been wonderful that they should for the stars, but there does one when they only get to the moon. Let us look at it for what it is. Matt this is the half of the regular users check the twitter accounts less than once a day. Is that possible . I feel like regular users check twitter accounts religiously. Users orey said 40 of daily active users or 44 rather. There are event driven activities, like when people following along with a tv program or event or something else, it is not surprising to think of the casual user. Olivia really quickly, what is the number of things that you are looking for facebook earnings after the bell today . Brian Revenue Growth and how it relates to our excitations. It is hard to imagine much in the way of disappointments coming out from there. I think it is all going to be about expectations. I think the Expense Growth is well understood. This is a reinvestment year. I think the focus is really on to line and the expectations provide color around quarter of the rest of your head. Olivia thank you so much for your time. Youve got to buy a book twitter and facebook. Matt its goodbye from you. I will see you back here tomorrow. Olivia exciting conversation between mayor Mike Bloomberg and Lloyd Blankfein. Check it out on bloomberg. Com. You do not want to miss that. In the meantime, stay tuned to live under television. Much more coming up, including the new windows operating system it is out today. While it has not cap much attention, the company says it could reignite demand for new pcs. Can you imagine that . People are actually going to buy just tops again. Best tops again. The only way to get better is to challenge yourself, and thats what were doing at xfinity. We are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Olivia welcome back to the bloomberg market a. We are about one hour into the trading session here in the u. S. We are awaiting you are here you take a look at where stocks are trading in the u. S. Yesterday from yesterday, the biggest gain in nearly two weeks. Right now it is really a story of corporate earnings. Treasuries have fallen for a second day, yields could pick up a little bit ahead of this fed statement. Inventories are out, we want to get over to julie hyman for those numbers. Julie 4. 2 , gasolinerrels inventory down 663,000, distillate inventories are up by 2. 6 Million Barrels here. A bigger drawdown than was estimated. This big drawdown is causing a bit of a spike in oil prices. Not significantly higher, definitely representing a switch from where we were before the numbers came out when we saw oil prices continuing to slump. If this is sustainable, olivia. There has been a lot of volatility in commodities in recent days. We will see if this is enough to keep those oil prices higher. For top stories crossing the terminal at this hour, fewer americans signed contracts to buy homes last month erie a lot eight are sent in the month of june, their first drop this year. Rise,les forecast would showing slow growth. A limited selection of properties there on the market. I can attest to that personally for the market in manhattan. P. M. We known at 2 more about when they will in fact raise Interest Rates, plus the head of the International Monetary fund expects an increase. The u. S. Economy is showing strength. Certainly it is well into the recovery process. We should expect a variation on that policy in the nottoodistant future. A different story for the rest of the world, calling Global Economic growth tepid. The next round of job cuts in the oil industry may hit a big producers. 2 vron says that it may hit of the global workforce. Account forroducers 150,000 industry jobs trending last year. The head of soccer in europe says that he will seek the presidency of the fourth world governing body. He is the second candidate running to meet fifa. Is stepping down. Officials are accusative in taking bribes from countries hoping to host tournaments. Tom brady says that he will fight his fourgame suspension for the scandal known as deflategate. He took to twitter to make his case, saying that he did nothing wrong and no one in the Patriots Organization did either. The suspension was upheld yesterday, saying that rate he tried to conceal possibly relevant evidence by destroying his mobile phone. Those are your top stories at this hour. Microsoft has officially launched their new operating system, windows 10. This is the first major update since windows eight was reduced introduced in 2012. We sat down with the microsoft Vice President on what separates this release. This is a significant release for anyone who uses a piece the and wants to get things done with technology. We brought things in like enabling the internet to happen. I think with windows 10 we will workingc use, taking creativity, getting it done and rejuvenating it. In a lot of ways you are correcting some of the mistakes made with windows eight. Whats different is mark whats better . What has dramatically changed . Joe they tried to enable windows to work on a new class of devices. They focused on the touch experience. Mouseof people have older and keyboard type pcs the did not like that new user. Xperience we have try to learn from that experience and create something that can flex. If you have a mouse and a keyboard, we have the familiar start menu there for you, but its better, you will get a digital personal assistant that can help you with work and find things. If you have one of the most modern pcs, like a surface pro or convertible, it can transform from a laptop to a tablet in an elegant way. Windows 10 gives you the best of those experiences. Still ahead, Goldman Sachs says Small Business growth is the key to american Economic Growth and they are now adding their money where their mouth is. Olivia welcome back to the bloomberg market day. It is time to get you caught up on all the Market Action around the world. Lets start heading over to europe. High, olivia. Stocks are up and ready for you, a second day of gains right now. The commitment being fueled for similar reasons as yesterday. Earnings in. And in here in europe. I will to get to, highlight a few for you. These three have been some of the biggest gainers today. Man group arising under new asset management. Secondquarter profit was be as well in their Plastics Division this year. Oil stocks, crude oil continuing its decline in a bear market. But they have been shrugging that off. The stock is rallying, not such good news for oil. Investors believe that it should be punished and it is down 4 this year. Biggest oiltalys and gas contractor, their biggest loss for the second quarter. Of course, i have to show you a bit of the currency market, given that investment in europe also focused on the fed policy statement coming of course after the European Market closed right now. Julie stocks in the u. S. Appear to be moving towards the highs of the session, though not much changed, particularly when you look at the nasdaq. For the second straight day, take a look at my bloomberg terminal and the map of the areas sectors. You intend minutes ago we were seeing much more even distribution of the green and red, but now technology and are the only utilities leading is higher. Look at oil prices once again. We look at the 10 minutes ago and after the inventory came out they held and after we drawdown in barrels. Prices right, staying higher, still over 50 per barrel since the big slump, but still off by 1 . Gold prices, we have seen stability in recent days. After that big ten day slump over the past five sessions. Now sentiment on gold is overwhelmingly negative with hedge funds short gold in january from the folks that we surveyed. You are looking at 984. Finally, a quick check on copper as well. Things little changed today, interesting story on bloomberg about copper miners, they still remain profitable and keep mining. 24 fret and profits, threatening profits. Olivia of course, its not just like you can turn on the time and turn it off. Pretty amazing. A lot of pressure. Thank you so much, julie hyman. In the meantime heres what happened in asia, chinese docs rose for the first time in four days. Nikkei, being dragged down after the japanese manufacturer plunged the most possible in seven years, cutting its profits forecast. We have more from hong kong. Said this as expectations of slowing demand for faster automation in china prompted innovation. In in income coming march, 17 lower than the april forecast. Announced daniel loeb he would take a break and february. Sharing more of their 8 billion cash, the firm agreed to double the payout to buy back shares. Now a look at the top stories on the bloomberg terminal. Headed for a deadend, Congress Takes a shortcut and they are close to passing an extension keeping transportation money flowing to the states, but only for another three months. On akers could not agree longterm plan. They are racing towards their august vacation. The Highway Trust Fund runs out of money midnight this friday and the senate has already passed a longer term plan. Fox is letting everybody into the act for the first republican president ial debate, allowing candidates with low whole members to qualify. There will be not one, but two debates on august sixth. One for the top 10, a second for the other six. George for, lindsey graham, carly fiorina, they would not have qualified under the old rules. Tead of getting an in email for every invitation to connect, users overwhelmed with invitations will only receive one weekly digest emails. Workers that belong to professional digest will get group up eggs. No more minute by minute emails, they will be cut i about 40 . Those were your top stories at this hour. We are holes hosting the Goldman Sachs 2012 Small Business event. The sixyearold initiative has pledged already half of billion dollars. Joining me now to discuss are the mayor of new orleans, mitch landrieu, who is participating, as well as two graduates of the program. Angelica rivera and bob mcclure. Great to have you all here this morning. Thank you so much. Lets start with the Business Owners yourselves. Tell us a bit about what you learned in what you took away from the program. Angelica thank you for having us. It covers everything you need is a Small Business. We covered a growth plan, we knew how to get there and reach that. We increased revenue. It is great because it covers basically everything you need is a small company. Olivia what is the most important lesson you learned, bob . A Small Business owner you can sometimes feel the you are on a lonely island and when you dont your team you are able to make sure the euro has packed and make valuable contributions. Make sure that your team has and madealue valuable contributions. Mitch Small Business is the engine of the united they to economy. In new orleans there is a great need to create jobs and Small Businesses. This was a partnership between government. Goldman sachs helped to finance the whole thing. Bloomberg has been a partner since the beginning. Creater to grow and jobs, we need training and access to capital. We need to network. Each one of those Small Businesses that has participated has grown their business exponentially and it has just been incredible and it is really wonderful to see the great work that they do in detroit and norlands. I want to ask you about the broader mood in the Small Business segment. Sentiment has turned fairly sour among Small Business owners. What are used in out there . Is that dovetail with your experience . Our company has grown tremendously. We have a projection i have 25 employees within the year. Olivia you are still very much in a growth phase . Angelica yes. Bob we are still growing double digits, yearoveryear. Revenues continue to climb as well. Mitch each cohort, for example, in new orleans 37 strong. Each has gone to the program and gained access to capital. Its been almost universally true that they each got their own jobs. Goldman sachs is showing that there is a lot of Small Businesses that have been nurtured and doing well. Israel much across sectors. Pickles companies, construction companies, who is signing up . Its all the same. Some of it is afterschool enrichment. What really matters is whether or not an individual was in the game and took a risk for the first year or two. They took a risk and committed to going through the program and on getting training economics, marketing, and when they get out of it they have access to capital. Withthey know from knowing each other, working with each other, they leverage each others assets and it produces good results. Fabulouse have this conversation with the mayor and the head of Goldman Sachs, they thattalking about issues affected Small Businesses, so i would like to get your thoughts on those, including the minimum wage. Would raising the net minimum wage negative impact your business . Angelica it would not, right now we are paying over the minimum wage. Bob we pay above the minimum wage as well for our team members. I think an increase in the minimum wage to help people contribute to their own living. Olivia it is 10. 10 in new. Rleans, well above the federal what have you seen in new orleans . As raising the minimum wage decreased profits . Mitch no, it has actually helped. Giving people the asset they need to do well, it has worked fairly well for us. Olivia one final question, what is the one thing that washington could or could not do to help your business . Angelica i think that anything that the government is doing is really helping. In our city it has been great. We have plans for big construction and requirements for things, 30, 30 5 , we work with them. So that they can meet those requirements. They just you doing what they are doing right now, that would anything thatia could add certainty or uncertainty . Sentiment,uing that continuing to support the Small Business and local programs. There. We will leave it angelica, bob, and mayor landrieu of new orleans, thank you. Still ahead, much more, leading the battle to define what americans, pitting science against big money. Yes which side is winning. Guess which side is winning. Olivia welcome back to bloomberg market day. Healthy diet in america is more orton now than ever. More than 70 million americans are obese, the first time that Obese Americans outnumbered those who are just simply overweight. The epidemic may only be getting worse. Companies like cocacola are out lobbying nutritionist and Health Groups in the diet guideline debate. 14 to one, in fact. A great story on bloomberg. Com right now, also with me for the next hour, pimm fox is joining in. This is incredible. You have money from the Big Companies up against the likes of the american pediatric society. What is at stake here with these new guidelines . This is something the government does twice per decade. A revision on the science of what americans should be eating. This is a review of the Guidelines Committee report from last february that has strong and specific recommendations as far as what americans should and should not be eating. Once that is released it is translated into a document by ,he end of the year by health human services, and agriculture. In between you get a lot of people trying to influence the process. What we found was that organizations that are friendly to maybe more lacks standards, less specific standards, standards that they say reflect a certain amount of science are going against the recommendations of the committee and the group it would be lobbying for dietary guidelines. Significant ring. These are the folks who have the ears of the lawmakers and government officials who influence the process that affect how americans are told what they should be eating each year. Tell usabout pimm about school lunches. Alan they have been under a lot of criticism, dealing with skepticism its 2010. Backed by Michelle Obama for what they have seen as healthier school lunches. The problem that a lot of republicans have had is that kids dont want to do stuff. Maybe it is based on nutritional content, foods are being used that children are not used to. At the same time the government says you need to eat more healthy, others dont eat it at all. What is in it that is connected to that agreement . Alan when you take a look at the dietary guidelines, you can them limiting the scope of what the final guidelines include. This is a way to get rid of some of the recommendations that they had last february towards ends , lookingcks on sodas at environmental and food supply sustainability in terms of diet choices. A way to say it is chill the process to let the government know that we are watching what you are doing. Dont look so hard at our industry. Olivia it is not just processed Food Companies worried about added sugar, the livestock and Meat Industry are lobbying against this two, correct . Alan this is interesting, people always wonder about how much meat a should be putting in their diet. Recommendation got reduced to a footnote this time around. They would like to see an endorsement in the final guidelines. It is not a big change, from 13 to 10 , right . Alan you could also look at that is Something Like a 10 drop. Thats something that the fda was talking about last week their labor proposal when they started looking at regular daily allowances for folks on Food Labeling that would actually show them that this 20 ounce bottle of a sugary beverage could have more than your days supply already. You could not see it, but we were showing some really disgusting photos of processing. Thanks so much, alan, i highly recommend you check out that story. Mom has always been one of those people who needs to keep busy. If shes not working in her garden, shes probably on one of her long walks with bailey. She was recently diagnosed with a heart condition. I know shes okay, but it concerned me shes alone so often. So i encouraged her to get a medical alert button. Philips lifeline offers the best options to keep her doing the things she loves in the home she loves. If she ever falls, or needs help, i know we can get to her quickly, and with her condition that can be critical. And even though she doesnt typically go far from home, the button always goes with her. These days, shes still as busy as ever. Just the way she likes it. Innovation and you. Philips lifeline. Lifeline is americas 1 medical alert service. Visit philipslifeline. Com caregiver today or call this number for your free brochure and ask about free activation. Olivia 11 00 a. M. In new york city. 8 00 a. M. In san francisco. 6 00 p. M. In jerusalem. Pimm happy fed day. Market day meeting might a decade of no rate increase. Details of the fed intentions. Olivia nintendo getting into the smartphone business. Is it too late . Pimm microsoft launches the latest edition of its flagship software. They are doing it quieter than before. We find out why. Olivia good morning and welcome to bloomberg market day. I am olivia sterns. Pimm im pimm fox. A look at how markets are faring. U. S. Stock is higher, s p 500 gains. 4
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