White house correspondent Julianna Goldman joins us now. How worried are the Insurance Companies about the numbers of those signing up today . Insurers are concerned. They are concerned about instability and consumer confusion. Aroundte house has said one Million People have enrolled in the federal or state exchange, but they originally hoped for 3. 3 Million People in by the end of the year. They are falling short of the deadline. They have not released the demographic data. The concern is while the website is working on the front end, the issues are still on the back end and will end up with the risk pool that is skewed to older and sicker people. They have announced over the past several weeks a number of delays and changes. What insurers are concerned about is that these go to the heart of the individual mandate. Last week the white house said your plan has been dropped and will not have coverage starting january 1. You can get a hardship exemption or you can be automatically enrolled. What the insurer say is these are people they were counting on to have had full coverage and full plans and that is what they were banking on in order to keep prices low. What has the white house been doing in order to prepare for today . They have been beefing up staffing. They have emailed 2 Million People who they have seen on the website. Out also said they sent 600,000 emails over the past several weeks. Just to make sure people are able to enroll. The big question becomes, what happens january 1. That is what has the white house most worried and why the on vacation. Ht he a lot of white house staffers have had to forgo their dictation. What they are concerned about is making sure people will still be covered. That they have treatments that are carrying over into the new year. It is the back and concerned that they are not fully confident about. Joe mansion more and the losses suffer a complete meltdown. The issue is that he wants to see a delay in the individual mandate for a year. Something he has been pushing on. He is a democrat. What he says is people are finding there is a cost explosion, if the plants are not what they expected, that is why the law could crumble. Seect that if we do not january 1, if we do not see the Health Care Law being implemented properly, that is a line you could start to hear in 2014, the line that they trot try to distance themselves from president obama heading into the midterm. Thank you. Day 11 of Bloomberg Television 12 days of bit point. Bitcoin. Today we are looking at alternatives that have been in the limelight lately. Matt miller has been doing this. Now there is a competitor called like wine . Light coin . Ofthere are a lot competitors. A lot of people feel the alternatives are a bit of a scam. It has become harder and harder to mine them. A lot of other currencies have popped up. They are easier to make money. Otherea is that these people are popping up to get rich quickly and not really as concerned with the movement of digital currency. Interesting. There are those who think it may be a scam. It is not that bitcoin cannot be a scam, it is maybe there are then using it to make money. There are so many others. At last count 3540 alternative all of theshows you possibilities. There is named coin. One of my favorites is doggy coin. It is interesting. There is still a massive advantage that bitcoin has over the other currencies. It has been around longer and more people use it. The market cap is like 7. 5 billion. That is a lot more than all the other alternative coins added up together. They all operate almost exactly the same principles. Chain forave a block the transaction. They all have a mechanism to decentralize for everyone else. They all have her protocol that minors use. Who is the light coin trader . It is someone who is now in charge of coinbase. Com. A coinhe monopoly trading site in the u. S. That anteresting to see lot of these alternative coins are experiments created as a way to see what other alternatives could work. Hen they are brought in bitcoin is evolving and changing. Interesting to see when someone goes out and create Something Like like wine light coin and then throws his money behind bitcoin himself as the ultimate champion. Thank you. Day 11. Moving and shaking this hour, kanye west. A sign that some luxury off even are turning the wealthiest clients. He has worked with Louis Vuitton on products that include 1000 pair of sneakers. Companys the parent slowed to three percent in the third quarter. The company has upped the price of the leather bags 13 this year. The company has not said anything about his comment. Mobile mogul Sheldon Adelson is taking an online stance against online casinos. Elliott walken had a chance to ask him if Online Gambling was similar to normal casinos. Arguments,can make and it may be familiar or similar to the argument made against landbased casinos. The point is it is some form of gambling and 48 states. Or indianer lotteries or native american casinos or commercial casinos or racing lotteries. There am a itdy is part of our society. , the one were to argue same argument can be made against landbased casino. The most important money in the justiceo department under which whose we highlye are the most regulated companies. We are more regulated than banks or any other industry. Of the Justice Department is know your customer. There is no way everyone can know their customer. You are opening gambling up to underaged children, ofage children, particularly College Students that cannot afford to play poker or to gamble on the internet. Problem of availability to which i object. I do not see any need for the government to allow operators to take a casino and put on every single Electronic Device that a young person is an expert with today and allow them to play anytime anywhere. They say you cannot whether or not a customer is an underage customer. An of age person could check in, or own own give his credit card and and then turn the phone over or the ipad or computer or connection to underage. Over. N turn that have someone legitimate check in and register and then turned that over to organized crime. Turn it over to money laundering. That makes every single telephone, Electronic Device and casino. I do not see the purpose of doing that. This is nothing that will help our society. Clearly he has thought through the issue long and hard. For more on him, be sure to check out our exclusive bloomberg billionaires index. Fromg up, the fallout raising the minimum wage. What it would mean for the restaurants that employ so many of the lowwage workers. By eating snacks . The Business Model. We will talk to the ceo in a moment. Not exactly the purpose person you would expect to see in your new neighborhood walmart. What was beyonce doing there. We will tell you when we come back. In the loop with betty liu will be right back. The fed may have to rethink the moderate tapering it the next guest is right. He has a bullish outlook for the economy, including a jobless bye just under six percent the end of next year. For more, i want to bring in don john herman. You are not giving up any ground here on your rosy outlook. Why is that . We have been looking at the we seery carefully something that we saw coiling in two thousand four. Those were times when the Unemployment Rate came in extreme came down extremely rapidly. Specifically what we see is this. Mathematical the coupling between the Household Survey and the nonforeign payroll survey. The household has been showing only 92,000 job gains. Whereas the nonforeign payroll 190200,000. I think what is going on is we saw that in previous episodes. The best i can determine is it is more like biased sampling, distortion. In these time series to verge done,e like they have they tend to the verge. It has been saying the non foreign payrolls are right. Harper when hot. Thehis case it will be Household Survey or Unemployment Rate that will do the majority of adjustments going into next year. 2016 you say the jobless rate will go down to like four percent. You do not buy into the new normal . Are a fewhink there factors. We do have the job improvement. The job market is very heterogeneous. Growth. Ve very good job we have structural elements that are not getting the attention of the fed. Chairman ben bernanke mentioned this and then exit speech. We have exiting baby boomers from the labor force that tends to bring down the Unemployment Rate very rapidly as well. Job growth going well. The exiting baby boomers. That is not per se job creation. And we have the issue whether we are appropriately classifying some that are more appropriate. I am not hearing in here an actual improvement in the creation of jobs or Rapid Improvement in the creation of jobs. Exactly. I am saying we should continue to run around the 190200 thousand on average. That would be my benchmark. I think you will have other elements that will coil. The unemployment will start to be a more accurate description of what the economy is. I want to play for you the ceo of manpower. Let me play for you one comment. He has the polls of the jobs market these days. Tide rises. Ly the very lumpy recovery across the united states. Is anhink lumpy discovery accurate description. When we look at the jobs silo a what we see is a jobs creation. Iny sit over large counties the united states. Los angeles, we see four or five counties in texas. Miami, new york city, boston. So we do have the silos that are therating the majority of job incidents. Geographically the way things look. Issue will be very tricky for the rest of the decade. I think the u. S. Has to look at itself as what do we really do well on a global basis that generates jobs. Baseent the big knowledge engine of the world. That is where jobs are growing. When you move out of that, you slip to lower skilled jobs. Then it is a question of two people have the skills to participate . So this is troubling. That is what we should be focusing on. That is what chairman ben bernanke gave us the message . We will be running into a situation in the economy were just doing cyclical Monetary Policy will not really solve this problem and reeducate or retrain the local label first local labor force. It is obviously a question of where the jobs are growing are going. It does not necessarily mean if the jobless rate will go down. Meandoes not necessarily we have to continue to taper or accelerate that. This is an engine that basically plays out asset prices, makes people wealthier. They buy a fancy watch. Workers inelp switzerland. It is not focused enough on the problem. Andissue is retraining rescaling and emboldening a huge portion of the population. Again, the areas the u. S. Has a competitive advantage in, we are the undisputed leaders. Businesses have done a lot of that. Look at my apple ipad, nikes acres. Sneakers. Business has made the decision for us. We have to recognize that and honestly admit it and then really focus on it. Then i think we starts getting back into more diversified economy. Great to see you. Thank you. John herman. Rate strategist at mitsubishi. Get ready to gray. A bitesized marketing push. You are watching in the loop. Morning. I am betty liu. Theer television is on markets. Equity futures climbing slightly this monday morning. This is going to be a bit of a slower trading week. We are waiting on personal income and spending numbers out in a few minutes. Up half a percent each for those numbers. An early glimpse of holiday shopping. On the markets again and 30 minutes. The iphone finally available in china. Apple in china mobile announced the longawaited deal last night. Sellings this in Retail Stores beginning january 17. 449 million in damages after us which mark watchmaker claims of breach of contract. That will be more inventive than he earned all of last year. Said it is extremely disappointed by the decision. It is conferring with the legal team about their options. The fallout continues from the hack attack that resulted in the data breach from 40 million credit card companies. In the meantime, two senators calling for investigations into the discount retailer security issues. And major Bank Monitoring customer accounts to see which ones have been sold on the black market. Butanies may be hiring, workers are still struggling. Increasing the minimum wage is a top priority for Congress Next year. Toreasing the bill from 7. 25 10. 10. Looking at the impact on the company. Irrespective of congress, many places have said they will increase the wage on average of nine percent next her. Depends on where you decide to do business. California planning to wage raise it by 10 . The companies that have more ranch ics have up buffer. The companies that keep stores in house may run into problems. Nicole miller reagan says these names have more than 20 of their stores in those states planning wage hikes. Starbucks is very exposed. Almost 35 . Bjs with almost half of its business in california put some more at risk. What about Company Earnings . You have to take of your favorite reader maker. To pull a could be hit by as much as 40 . Bjs a 33 impact. Could be hit by as much as 40 . Dunkin donuts almost no impact at all. Labor is a big hit for the casual dining. How do the companies mitigate the risk . Menuu can raise the prices. Through sales. What will they do . To makents could aim service more efficient. For example, starbucks testing a system where you can use your phone to order, pay for your drinks him avoid the line completely and pick up a copy. To raise prices by 1. 5 . Overall, the shortterm problem according to most analysts i spoke to is if it went as high as 1010, the companies would not be able to pass along all of the increase at once. There would be an increase on companies. The most difficult would be the Quick Service restaurant liked mc donalds. Center margins. Very interesting. Thinner margins. Says they will reject the proposal to acquire smaller mens the wearhouse. They will continue to review purchase opportunities according to the company. Julie hyman has the details on this. Preks this has been back and forth that has been going on for quite some time. We have had these parties make offers for each other and then reject them. The noises the companies have been making in recent days made it sound like perhaps they were closer to some sort of agreement. Looks like that is not the case here. A lot of analysts have said av it does at this point make sense for the companies to get together. There have been struggles in the greater retail businesses. Chairman says in a statement that the board undertook a thorough review and said theration of the of proposal not in the interest of the shareholder. Continue to review acquisition opportunities. If you are looking at opportunity, they are the two biggest and the specific niche. Unclear what other acquisition there would be out there. Makes it sound like perhaps it is a price issue. We will keep you posted. Will likely hear from mens wearhouse before the day is out. D be a raised offer thank you. We will be back with more on this. Joseph a bank rejecting mens wearhouse and their offer. In the meantime, i want to read to you the breaking numbers. Personal income coming in worse unexpected. Personal spending pretty much right on track. The revision and the prior month a little bit better than expected. On how Holiday Spending has so far shaped up this year. Higher. Utures are friday we told you about netflix for nibblers. A new Service Coming over from the u. K. That allows you to order snacks to be delivered to inr horn home starting january. For more on the concept of this, Anthony Fletcher joining us. Great to have you here with us. I must admit some of us are scratching our heads. Who really is the target market . Who will buy these snacks on a monthly basis and pay a monthly fee for this . Good morning. What we found in the u. K. Is we have been one of the fastest companies. We are selling 70 million worth of snacks now. It starts in the office. They were the customers who enjoyed the product first. Healthy snacks delivered to their desk. The snacks are waiting for them and they can eat something healthy. Office workers. You are targeting small businesses. Absolutely. All about the relationship of us and the customers. They can go online and order snacks. We can deliver monthly or fortnightly as well. In thenot buy these shops. Healthy, portion controlled snacks. The u. S. Market now . We have done very well in the u. K. We have recently taken an investment from a u. S. Firm, and were both excited about coming to the u. S. To offer unique fax over here. What about competition. What kind of competitive advantage do you really have . This was set up by individual to love film. They got the backend systems working. Spent another five years making it work here. The back end is the logistics. It is the way we respond to data. E make all of our snacks what do you mean by that . What will be key here in the u. S. . Could not agree more. If someone orders a box and pay for it, they wanted to arrive. We have a postal brain. An application that hosts that calculates data. Works outhe data and the best route to use. What are the margins like . They are great. We make our own food and resell it to the end customer. That is quite unusual. Selfer gamble has to through a retailer. They do not often make their own foods. We do both. It is speed and agility. I amline grocers is what thinking about. Amazon, fresh direct. Who are focused on same day delivery. Might they become a pretty big force to be reckoned with in your Business Model . I think the consumer need is a little bit different. What we are not trying to do is send a drone in there to respond unable in an hour. It is a regular thing. Website,ed on your granola, fruits, nuts. Are you looking at expanding at all . Doing other things. We make the food ourselves and have the relationship with the enduser. We are consta