Whether or not it will pay off ahead of the First Quarter earnings. Plus we are live on the for from new York Auto Show. To catapulte going sales . All of that and more, coming up in this edition of street smart year ago markets are near the highs of the session there. Thehe green, same story on nasdaq, julie hyman has the big three, watching the stocks you need. Some of the upside we are seeing today has to do with Industrial Production. Janet yellen did not seem to hurt matters. Yahoo is out with numbers, but it is sort of an interesting story here. Yahoo s earnings were not that fantastic. It seems to be more gaining because of the figures come ali baba. Of course, they own 24 of alibaba, that Company Reported a surge in sales of 66 . It will not be relying on it forever, they will becoming public, but for now it is still helping matters at yahoo . A different story is bank of america. Unexpectedosted an loss. Not what analysts have been looking for. Bank of america, like so many competitors, had many Legal Expenses as it tries to tie up the issues related to the financial crisis and mortgage practices. Those fees still coming in higher than the bank and analyst had bargained for. Speaking of banks, the First Investment bank coming public today, raising less than initially expected. Shares are rising in his first day of trading after pricing at 25 apiece. All right, thank you, julia. We will be talking to you shortly. Google is on deck today after the close, they have been consistent as a performer, seeing organic Revenue Growth for the last 16 quarters. At their core business could be in jeopardy. Ad spending on bing has increased 60 in the First Quarter, more than doubled googles 29 gain. Slowly beeno stealing market share. Something that google has noticed, they are trying to branch out, ochocinco product categories. Like google glass, finally hitting the market. Yesterday, just for one day, of course. Does this quarter market turning point change course . I am joined by tom forte, jonathan keller, and pete stossel. Great to have you all here. I will start with you, tom. They are talking about products. There is concern about the advertising revenue. How would you characterize the situation for google right now . What is generally speaking i am more optimistic than the picture you painted. I think they have done a good job growing their way through this transition. A significant increase in activity, their page views, with pressure on activity as a result. Are you worried about being at all . Not so much. If you look at this quarter in particular, theyre going to aport motorola as discontinued operation, creating an easy comparison. It could be some good news for google. So, yesterday is a oneday thing. I have had them for a little while. I have been an advocate in a slightly ironic way. What is the irony . That they look very silly. You are right. It is hard to take people seriously when they wear them. I think the design is a mistake, but the myth the technology is great. You bring up an important point. I thought it was just me saying that i would not wear those. A lot of people are concerned that they look a little bit funky. He was going to pay 1500 . Very few, though they did report that they sold as many as they had, if i dont know if that is the same as selling out. Of the white,ut but they have the other color . Manyey said they had as places in the Explorer Program as they had to give out. To translate that, i dont think its gangbusters, but it was a decent get a decent day for google glass. Jonathan, have you tried out google glass . Did you see that on a daily basis . I have no interest. You have to try it. That is like me and catch up. I am not going to try it. I think it is hard enough for , a watch, i band dont want anything near my face. To google go back glass in a second, but jonathan, i know that today he reported google looking at bringing fiber to new york city. I mean, we have seen it in some loan markets throughout the country. Nowhere near such a cosmopolitan area, like new york. What will this mean for google . I think this is the best thing ever to happen to new york. I cant tell you how many Time Warner Cable subscribers will literally break down doors to have some other option at this point. I think this will be a huge thing for the city. Even the startups in the tech industry, this is a major, major thing if it happens. A major thing if it does happen. Great thing for the company . Google fiber is talking about expanding into 34 markets. In new york city, that would be huge. If you look at their initiative, they are looking at expanding connectivity on both sides of the project. A drone acquisition. With google fiber on the other end. They acquired nest recently for 3 billion. Keep, any concerns that this company is getting too scattered, trying to do too many things all at once . I dont think so. First of all, i dont think that they are very worried about being. I think that that will make the company thrive in the near future. But these moon shots, these longterm projects, if any of them payoff, self driving cars, fiber, drones, it will create a hole in the market for google, potentially giving them dominance in a whole new category. I mean, this is critical for them at this point in time, that they continue to take market share in an expanding area. If they dont, we have seen what happens to Tech Companies that fall behind. Tom . They have a lot of staying power, they deserve a lot of credit for that. They have done a good job seeding these future investments, be it the driverless car, google glass, or these other initiatives. I think that they will be ok. At the same time i think that facebook has done a good job and they are positioning themselves well for the future. Everyone is on this acquiring spree lately. Even yahoo , obviously, trying to remake itself, jonathan keller, with Marissa Mayer really making a push into the content space. When you look at the landscape for google, who is their biggest competitor . Tough, i dont think that they really know who they are yet either. They are still in the process of figuring it out. Content seems like a big play, but i would say that that is spread out amongst a bunch of categories. News, media, content, getting into what looks like news really heavy. There is not a direct comparison, but it seems like they are still figuring it out. Seems like they want to do a little bit of everything. Your price target . 750, bullish on the stock. How soon could we see that . 750 dollars. Any more thoughts on google glass before i let you go . I hope that their recent deal translates into a redesign. The technology is great, but if they could make it look less silly that could be a winner. I have got to go with you on that. I am sorry. It looks a little silly. But neat stuff. You have got to try it, though. I will give it a shot in the commercial. Tom, jonathan, good stuff. Coming up, bloomberg is live at the new York Auto Show. We will be speaking with steven cannon and the audi of America President , scott kiev. The new York Auto Show is in full swing right now as all the major automakers show off their cars. Of course, our own matt miller is there, and he has a special guest. Matt . Trish, thank you very much. I am here with the head of the americas for mercedes. We are looking at probably the most amazing vehicle at the entire show here. It is almost like you really very seriously. Tell us about the vehicle. It is kind of a crowning achievement for the amg brand. The coupe is coming later this year. To me it is the perfect intersection of beauty, intelligence, and raw performance. With the mostle beautiful class we have ever put on the road, enjoy a number of amenities, like hot stone massage and aromatherapy while her going from zero to 60 in 3. 9 seconds. About theld argue beauty, but you cant argue with and theurbo v8 technology of this vehicle. You would never want to let it drive itself. Stereoscopic camera, longrange and short range radars thomas senses the vehicle position in space, allowing the vehicle to react when the human is not reacting fast enough. It can protect critic pedestrians and crosswalks without driver intervention. That is a level of intelligence that is almost on a church gentry towards autonomous driving. Trajectory towards autonomous driving. You could see a deer at night with that night vision. That is so incredible. You have other cars here. This is probably out of my price range. Over here there is the c class. It has been getting a really warm reception. Especially from silicon valley, silicon alley kids who want the fuel economy but still want the luxury. This is our number one volume car here in the united states. The new generation is coming in september. For the first time our volume product comes out of north america, which is fantastic. This vehicle is taking a step up in every dimension. It is slightly larger, the interior space is better. It is on a level that many would describe as glasslike. We have taken 200 pounds out of the car. Highly efficient fourcylinder engine. A really complete package in the mid 30 price point that will absolutely set the benchmark in that segment. You also have an all electric be class over here. From the ultimate internal Combustion Engine to zero emissions, spanning the territory there. We have got the biggest spectrum of offerings, from highperformance to utility, zero emissions, and one of our product advantages is our great portfolio. Once we bring customers into the brand, we give them all kinds of options, places to migrate, and we do a better job holding onto them than any other luxury franchise. Am i ever going to be able to buy i want to buy a car from steve cannon, you say that you you say that you will make one and sell it to me, no middleman. We have factories all over the world, from china to the u. S. , germany, and south africa. The days of us being able to have you a car without a middleman, i dont see them anytime soon. We have a great either network that take tremendous care of our customers on the sales side and service side. That Business Model is not changing. Does it bother you that elon musk is selling directly to his customers . Let him do that, someday he will need a Service Network and when that happens, well see what happens. How do you handle recalls . How does mercedes spot the problem, contact the customer, fix the problem . We have been hearing a lot about recalls, lately yes, we have. I dont know if you saw the mercedes is the least recalled car in the industry. I would expect that fact. What it does happen, the customers come in, we give them the wherewithal to solve the problem, off they go. Obviously we take the safety of our customers very seriously. When we identify problems, we generally fix them before we are asked to. Got it. Well, if you need a product tester, i am always willing to take the coupe out for a spin. Very good. You have my number. You bet. Trish, back to you. Matt, we will be checking in with you in just a bit. For continuing coverage, check out our special channel on bloomberg s website, ipad, and tune in next to find out the havoc being wrecked on corporate balance sheets. Alas, stanley big is going to join me to talk about how it plus, stanley big is going to join me to talk about how split personality can help at the office. That and more, when street smart continues. Time for todays global outlook. Venezuela, into google venezuela style, decided to create new rules for their currency. At are you a big business operating in the country . The government is now offering you a cut rate. The official rate is 6. 3 to the dollar, but the new rate, for those privileged enough to actually secure it, is 50 bolivars to the dollar. That is almost as good as the black market rate. Confused . We have more on what it all means for corporations that have big holdings in the country. Latin america reporter tom a kottke a core zukowski, joins us right now with more on the story. It is kind of mindboggling, the government is basically saying we have several different rates and it just depends on who you are as to which one you get. Right. The essential importers get to buy at a much cheaper rate than the nonessential, would get to buy them at 10. But really, it is still such an impossibility to get dollars, most people are going to the black market, but now they have created this new system where you can get them for 50. What happens is if you are a company hang on with the companies, i want to get that and what it means to the balance sheet. If i go to venezuela right now and i take out my American Express card and try to pay for my hotel with it, what rate am i going to get . On the credit card you will get an official rate. But that is the bad rate. Right. Now, if i am a big corporation, a u. S. Corporation doing business there, 6. 3 to the dollar, i am not so excited about that. What will venezuela offer me . And you want a stronger rate if you are booking in dollars. You make them and book your profits in dollars. What is companies are kind of this leading investors if they book at that rate, because in reality they cannot access that so, it creates what are they saying . When we go through their earnings statements, a Company Operating there we know that colgate, procter gamble, those are Big Companies with operations there. Other companies, like brink, for example, that you dont normally think of, how are they affected by this . The thing with a company like that, it has been an interesting short for some hedge funds. They have been booking these inflated profits at 6. 3 per dollar when, in reality, they cannot access that rate. What they are doing now is adopting the 50 rate, which slashes their profits it actually creates a huge loss or their overall earnings. But does it matter . Your money outng of venezuela anyway. Look at a company like herbalife, which has had such a big presence in latin america, specifically venezuela, one of the complaints and concerns is that how all those money that they just cant get out. It is a big concern for a lot of companies. They might as well just write it down to zero. What does this tell you about venezuela and its future . The idea that they have all of itdifferent rates . Shows all the distortions that happen when you have to capital controls like that. What is really interesting is that auditors dont seem to have consistency with what company should be booking their profits. What is the thinking right now . That companies should be honest with their investors and should be booking at a more reasonable and realistic rate. You mentioned that some hedge funds were looking to short these companies. What are some other examples . Directv has a lot of exposure to venezuela that you would not normally take about. If they were to book, the total cash or the entire company would fall 26 . Really interesting. Other examples of countries like this . Is this an emerging market problem, or a capital control problem . Well, they go handinhand. Argentina has its own multitiered currency system in a way that is not official. You have the official exchange rate, then you have the blackmarket rate. Bottom line, if i go there tomorrow i am better off taking might u. S. Dollars down to the Street Corner . Yes. Thank you very much. Really interesting story. Coming up, stanley banks has stanley bing has some interesting theories on improving yourself and your business. All right, everyone. Time to embrace your craziness. You may know by next guest, gil schwartz, a. K. A. Stanley bing, known for his business humor. He is the Vice President of corporate communications. The curriculum, everything that you need to know to be a master of the business arts. He breaks down how to harness a different persona and make it work for you in business. Mr. Bing joins us now. Stanley bing, great to have you. Pleasure to be here. What do you see as the number one quality that successful people consistently have in business . And approach to being strategic in the issues that face you. In this book i give a course of study that enables people to think strategically about the variety of real issues that people have to deal with. Like looking stupid, for instance, which is you know, a danger at every level of your career. In some areas looking stupid is worse than being stupid. [laughter] you can look stupid, you just dont want to be stupid. That is the thing. The idea that you need a strategy at every level, as opposed to being reactive or , that is allnfused difficult to deal with in business. So, a strategy. Being able to harness some of your good traits and bad traits. You talk about something called the x factor. There are a lot of negative things that you compile into this x factor. Rage, delusions of grandeur, paranoia, narcissism. Together you say that if channeled properly they . Re good i am looking at the chart right now. The x factor is a small part of your ability to be successful, but without it you are kind of drab and you will not rise to the top. Look for Something Like perfectionism, which is an attractive red on the chart. In normal life people who are overly perfectionistic are annoying to other people. In business, they are highly effective cfos, accountants, and other job descriptions. Cissism, people will people who are only capable of speaking about themselves. Lets talk about you, what do you think of me . That quality of being very selfcentered is a huge asset if you want to ascend to senior management. It is interesting. You want people to show the qualities that you would not necessarily in real life want to be showing. You make the point that the higher you get up the food chain, the easier it is to kind of unleash a lot of that. Well, that is the thing. I really believe that as you get more powerful, your ability to express who you are blossoms to the point where you are at very high levels and can be completely unacceptable and no one will call you on it. You can be 100 yourself. Great to aspire to, right . That is what people aspire to. In the middle ground you have a middling ability to do that. At the very beginning of a career, you are very often stuffed into cubicles and kind of shaped by your culture. Part of this is playing the game throughout your entire career. Maybe this gets back to what you were saying, having a strategic plan. A plan that is shortterm for problems like why is my town clark t