1000 for a mans haircut . Crazy. Guess what, it is your head. A guy does not have the opportunity with makeup, hearings, heels. Well, he could, actually. Some do. On that note, i will do this to myself. Top business stories from around the world. Sayutives at General Motors an internal review of a car recall will be good news for ceo mary barra. It is believed to the investigation will clear her of any wrongdoing. The report is expected to name those responsible for a delayed recall blamed for at least 13 deaths. One of japans biggest insurers is expanding into the u. S. Daiichi will buy Provident Life for 5 billion. And the new adp employment figure came in a little light. Adp says private employers adding 179,000 jobs last month. We get the government jobs report on friday. I was waiting for adp, so now i have to do some recalculation. 211, that is my number. I will not be here on friday. I may call in for you. President obama has arrived in poland as part of his tour of europe ahead of g7 meetings. Hans nichols is in brussels with more on obamas trip. You met with he met with the ukrainian president elect, Petro Poroshenko, for the first time. What did they talk about . I imagine it is kind of obvious, but you know better than me. A substantive conversation about the future of ukraine and how to unwind attention. We saw a fullfledged embrace from obama. The meeting was important for a variety of reasons. Signal to investors, to other institutional leaders that this is a person who can lead ukraine out of crisis. Two, laura tango has a really 2, 4 shank out Petro Poroshenko is well and mediated to solve a problem and unwind tension. I have been deeply impressed hisis vision and partly by experience as a businessman, and what he knows will help ukraine grow and be effective. The meeting when it goes 15 or 30 minutes later, it is either a bad or a good outcome. He has arrived here in brussels. But in poland he cast a larger struggle as not just about ukraine but also about the march to progress of freedom in eastern europe. As we have been reminded by russias aggression in ukraine, are free nations cannot be complacent in pursuit of the vision we share. A europe that is whole and free and at peace. We have to work for that. We have to stand with those who seek freedom. The president also came bearing gifts. In nightthe 5 billion vision goggles and armor. That is nonlethal assistance. That is to the ukrainian i still struggle to see how night vision goggles can be clearly on the nonlethal side. I will leave that for you and stephanie to discuss. Hold on. It is unclear to you why it would be on the nonlethal side . It is just goggles. You are using goggles that night to patrol your border. I imagine you could make the case that maybe they are playing freeze tag or something, but for the most part i suspect night vision goggles are used for violent means, violent ends. A g7 meeting, not a g8 meeting, but president obama and president putin are going to find themselves in the same place in just a few days. They will both be at the palace in paris. They will have separate dinners planned. Clearly they are going to meet. The idea that they will not have a conversation putin has said he would like to meet with obama. Obama will probably find some time to talk to him. They are very clear about that. Are they going to exchange pleasantries, get into the substance . That is a question we do not know, but it is clear both sides are signaling. slot of president obama rhetoric has been more conciliatory toward valette amir , theward Vladimir Putin endgame in winding down the situation instead of escalating it. Notwithstanding the nonlethal assistance, obama seems to be in a position that he wants to reach out to put in and have a substantive conversation. Our international correspondent, hans nichols, from brussels today. Goldman sachs Small Business smallm was held to set up businesses. I had a chance to sit down with goldmans ceo and chairman like buying fine chairman Lloyd Blankfein and michael bloomberg. The two share their experiences with graduates of the business program. If you are wondering why they are so anxious and nervous on the show yesterday, that is why. Take a look. I remember being a great listener just like a smart and diligent and great athletes. But i have a feeling we are all alike. Do you feel like the image generation wants to take note and wants to learn from them before . Right now when they have icons like mark zuckerberg, the guys from snapchat becoming multimillionaires and billionaires, they do not necessarily want to learn from their elders. They have to understand those are so rare, you have a better chance of winning the lottery. Really no chance. You have to get used to the fact that you are going to have to work your way up. It is going to be a struggle. You will have ups and downs. That is just the real world. And i dont know very many people who are successful that didnt have lots of downs in their careers. Anybody that has a meteoric rise just is getting ready for a fall. Knowing how hard you worked in your career, it does not give you pause to hear from young people who want not to work on the weekend, who say they dont want to work for the man, who say they want to be part of a community, they want to be more thoughtful . It is darwin at work. What do you mean . Because they are not going to be successful. You can always buy a Lottery Ticket and win 1 trillion. But generally speaking, if you are going to get into Goldman Sachs or progress at Goldman Sachs, or at bloomberg or at the cornerer score store, you have to work very collaboratively, be honest and be flexible. If you tell me you do not want to do this or do that, i would not hire you. I want to know what you want to do. I used to write letters. I am a 1000 letters, and terrible typist, but i typed them out until i cut them right. Until i got them right. And i got a job all through college. Every summer i had a job. In high school i had summer jobs , and parttime my senior year i worked at a little electronics company. We did not know anybody. Somebody once said that i got something because of influence, and my mother said the only people we knew whose names were in the paper were in the obituary or the crime sections. I did not know anybody. You just go out there and do it, and i still think that opportunity is there, and i dont think most kids fit into this mold of the millenial and they are too good for this and they do not want to work for the man, or in this day the woman. Handful, they are in for a rude awakening. Schools that do not want Christine Lagarde and Condoleezza Rice speaking at their commencement. I came up in a generation where people were at the vietnam war and he picketed things in hindsight we would not done today. Some of the things done or said are ageappropriate, and if you look at what people are doing as opposed to what they are saying, i complain like crazy about the long hours i had, the times i spent that i was a lawyer when i started out in a law library. I complain for hours and hours how late i had to stay. If i had left i could have gotten out a lot earlier, but i worked. I think youre doing the same thing today. The world is different. Delivering things, collating, things that do not have to be done today. Absorbing a lot more information, disturbing things with a lot greater effect than we had the ability to. Dont forget, i get older every year but the kids starting out at Goldman Sachs stay in the same age. I always talk to the group coming in, and they seem to be clearly motivated, working hard, anxious about their careers like i was. What motivates you today . You must be a adrenaline junkies. Where do you get it from today . I think when you like doing something, you do more of it. The more you do it, the more reason it gives you to like it. It, you spiral down. But the piece of advice i would give tenant any young kid who gets a job, you have to go in and you have to work harder. I always make sure i was the first one it in in the morning and a last one to leave in the afternoon. We talked about the fact that young people today say they do not want to work in banking, they want to work in tech. Remember, Mike Bloomberg left salomon brothers. Future wasthe technology. He started a tech business. Hes a tech guy. That is what bloomberg is. At this point today, 2014, 25 of employees at Goldman Sachs work in technology. It is not just old school salespeople, traders, and bankers. We are a Technology Firm and it does not stay still. On top of the technology needed to drive the business, you need technology to comply the business and to make sure that the difference is Risk Management and a couple of other layers to make sure everything you are doing is in good order. I think we first heard that from him in sports or length, and he means it because every him in from switzerland, and he means it. Fixed income etfs. Get to theer we electronic trading platforms across all businesses, the words it is for banks. They either need to get on top of it, get in front of it and embrace it, and they will take an Old School Approach saying they do not want to be in that business, the blackrock and pimcos of the world who have a produce year he responsibly for best execution, they will tell them to take a hike. Who will that hurt the most . The firms all based on relationships. If you are a fiduciary, you need to transact with the dealer they gives you the best price. Times have changed. Cofounder alibabas hopes number eight is a lucky number. We will tell you why in a moment. Plus, it is baseball versus the open days. The team wants to move, but Major League Baseball says no. Onhis is Market Makers bloomberg television. I am Erik Schatzker with stephanie ruhle. There are two interpretations for ba in chinese. One can mean gate, the other means fortune. Picker is and has been on the ali baba ipo trail. Leslie, how important is superstition to the people behind ali baba . Incredibly important. You have two very careful and seerstitious you can number eight popup in various forms of their culture. There originalas ticker in hong kong. Now they are private but that number endorses one of the wholesale websites that they have. So you see it pop up and it has served as luck for them in the past. If august 8 is feasible, that is something they are looking to do. Obviously august 8 is their ideal. What would cause their delay . They want to have a successful ipo. They want the ipo to be successful. Do they wanted to be late august . Not absolutely not. They are already in the ham tends on august 8. They are, but their thought , they haverly enough a 20 billion ipo coming in, it is not an ipo that investors can really august 8 . This is not france. People are actually working in the month of august. We will be working. We will surely be working. Leslie, thank you very much. On the 18th and the 28, too. More news on that front coming. Only hota is not the ticket these days. Are you ready for this . Young people in the country are clamoring to get in on something that seems oh so retro. Massive attack ipos and global capitalism. Is this true . Arent they too cool for the markets . Thehey are joining communist party and rose. They are talking about Young Chinese people. The china edition is off the charts. The 20th anniversary of the Tiananmen Square crackdown. The communist party is doing just fine. The chart shows recruitment levels of University Students are at an alltime high. The bars track the number of students who are members, approaching 1. 20 5 million. Million. Ching 1. 20 5 they made a comeback in the mid 90s. They really took off the last 10 years because the number of College Students has skyrocketed over the last decade. The percentage of students that make up the total members is at 40 . What are the career spock the Career Prospects . That is why they want to join the communist party. More likely it has to do with pragmatism. If you are a member of the communist party come you have a better chance of getting a job in the Public Sector come in which is seen as safe there which is seen as safer with benefits. Kind of like it is in the United States. It helps to have a Party Membership as well. A so this is not about political view, it is about a political aspiration. Like in the United States, they have a hard time finding enough jobs. What is interesting is the comet his party has figured out a way to work this. They have become very popular. One book i read, the author points out that the Chinese Communist party has 85 million members. Making it seem 85th making it the most populous country in the world. Scarlet, thank you. I also love your dress. Thank you. The whole thing. It works. Coming up, many consumers have a short memory. They cannot decide all the news , and snappedalls up gm cars last month at a crazy pace. It is graduation season, and that means famous people handing out lots of advice on how to succeed. This year we thought we would spend time going through thousands of hours of platitudes to bring you the only commencement address you need to see. Good morning. Distinguished faculty family members. And the distinguished class of 2014. This is such a remarkable day. You are graduating from an Excellent School today. I can see it in your faces excited, full of hope, blissfully unaware that you will be paying off high interest Student Loans well into your 60s. It is your commencement, for crying out loud. You are about to run through to an enormous field of uncertainty. You will take your lumps. But the only way you will reach any height in life is by taking that chance that you might fall. You are ready and able to do beautiful things in this world. You are a unicorn. We are unicorns. Change the world. Be world changers. I want you to remember three things. Six things. 21 items. In no particular order. Never give up. Keep the flame burning. What it meansbody for america to lead the world. To the class of 2014, thank you. Congratulations. Your journey has begun. Lets go genius. That was genius. Thank god diddy was there. Unicorns. Dr. Unicorn . Unicorns . If i was a young graduate i would be keeping that close to me. I will say, was jim carrey actually speaking at a commencement . Because that outfit was a joke. It was like a costume. You can get that again on bloomberg. Com. I have a feeling that is going viral. Stay with us. Youre watching bloomberg tv. Market maker you are watching here on bloomberg television. Im Erik Schatzker. I almost said im Erik Schatzker. Amazing. Im stephanie ruhle. Im pretty sure about that. Highprofile recalls, one might expect sales of gm cars would be a bit off but customers are unfazed by the widely publicized series of recalls the company issued. The automaker just posted its best month in six years with sales up 13 in may, so were asking the question, why hasnt the recall scandal made more of an impact on dealership floors . Joining us for insight is chris malone, author of the human brand. By book focuses on recalls tylenol and other companies. It, isnt that americans except there will be recalls and there is danger on the road, and by a car anyway buy a car anyway . I dont think so. Our company has done Extensive Research on product recalls. When we looked at the fundamentals, it was not surprising that sales have not been impacted yet because the circumstances are different from what we saw in toyota in 2010. What do you mean by that, the circumstances are different . Research,d in the five factors drive how and when customers respond to recalls. First, awareness of the recall, severity of the risk posed, the proximity of the risk of the product on the shelves today, how they handle the recall, and then the reputation once the recall starts. With gm, it is the proximity of the risk. The models most affected have been off the shelves for the last four years, so customers do not feel the risk directly. The numbers clearly bear that out, gm sales are up for two percent last month, 13 last month, but it is a sign of the conventional wisdom. One would think that potential buyers would hear the car recall, and think, i will buy a ford. Found is theve reputation damage takes longer to filter into Consumer Behavior and the pattern that we are seeing with gm is actually more similar to that which we saw with lululemon, despite being in different categories. The impact was not seen until six or nine months later. We think thats the case with gm. How much does cost play a role here . Gm stem some of the reputational damage, potential damage to its sales by offering consumers more incentives, discounts, rebates, the sorts of things we saw a lot of before the financial crisis but have become scarcer as companies become better managed . They absolutely make an impact and we may see that later in the year it sales slowdown. I think they have been reluctant to do so because the models on the shelves now are not the focus of the recall. That is often a triedandtrue trick used in the Auto Industry and we may see some of it later. But we think there are a lot of shoes left to drop in this instance, and the damage on their reputation will still have an impact, but delayed. Will we hear about more incidences, more crashes . There are likely to be more congressional hearings. There was a report yesterday that as many as 74 deaths could be associated with this recall. There are victims whose names have not been released yet, stories that have not been told. An awful lot it to be really revealed about who knew what and when. Why does it take so long for this reputational damage to t