Founding principles and stand up for the entire bill of rights. Our future cannon can include a road to prosperity and back home and abroad. It should include a balanced budget and a singlepayer tax system. Olivia he is the son of texas congressman rand paul. In chicago today, voters are deciding who will run the city for the next four years. Mayor rahm emanuel was forced into a runoff with two county commissioner jesus garcia. Whoever wins will have a tough job because the Credit Rating is junk. He is seeking a second term. He has pointed out what he has a in this first one. We work through budget deficits and now we are number one in job creation and we are moving in and also the number one Little League team in america. Olivia a manual promise to put the fiscal house in order in the city is a nine financial freefall. Theres little suspense about what the outcome will be. Tsarnaevs lawyer said that at the bombings that they killed 160. The defense argue that it was tsarnaevs older brother that was the mastermind. Prosecutors last for the death penalty. Brendan weak readings in online competition is hurting by come. Viacom is taking a 785 million pretax chop to take for tax cuts. Also to write down the value of underperforming shows. Ratings were down 34 in the First Quarter. Comedy central is down 30 . More fallout from the discredited Rolling Stone story about again rate. The fraternity at the story plans to pursue all available legal action against the magazine. A called the Rolling Stone report affiliate of journalism. In sports do beat wisconsin. The blue devils came back from a nine point deficit to win 6863. Four freshmen scored all 37 of their secondhalf poised. Tyus jones let all good. Olivia you would want a team like oklahoma to win. It is the fifth title for duke. It is the fifth title for coach k. Brendan they were the Top High School recruits in their class and they correlated. And they coordinated. Olivia i watched kentucky lose at a bar in florida. I do not feel that bad when half of the team will end up on the nba. Tom speaking of the ncaa and Stephanie Ruhle, we brought together a group of titans. No, we are lying. Stephanie did. They took their best shot at filling out the perfect march madness bracket. Heres the outcome with real money on the line. Stephen pac leads to, coowner of the boston celtics. In second place, chambers of cisco. And gary cohen from goldman sachs. All participants ponied up 10,000. 360 thousand dollars will go to mr. Cohens charity. Brendan stephanie talk to him on friday and said that the big ten is always undervalued. They have bad records because they are playing against each other and always bet on big ten teams. Tom he snuck up on me and what me. Let us do a day to check. Let us talk about range bound. Scott will join us on the range bound market. That is about as boring of a screen that you can get. Move to the next green. Next screen. The ruble is interesting. It comes in ever weaker. Excuse me, stronger. Russia does better. Gold futures 120 and down a solid 10 this morning giving up the recent gains. Let us go to the mac monitor. Mark halperin will join us in the next hour. This is real simple. Per capita income washington texas, and kentucky. This is 20 years back on how kentucky is doing per capita. They get a little bounce out of crisis. It is that taxes boom with oil. Senator cruz on fire here versus the senator of kentucky. And there is evil washington. They both hate washington. Washington booming because of deficit tax dollars. Everything wrong with washington. Washington levels off of texas. Brendan look at greater washington. That is most of northern maryland. That is the one place in maryland that gets an amazing subsidy. Tom i noticed that the per capita senses of maryland is huge. Some of the finance behind the political from that we will bring in today on bloomberg surveillance. We need to go to chicago and not about wrigley stadium and the outrage there over on construction. It was close at least the race in the recent weeks. The mayor has reached out to black voters in crime rate in chicago. Peter cook is in chicago as mayor a manual is scheduled to take the white and black vote. What is the distinction if chicago goes to the polls this morning . Peter the . Is the black vote in chicago and who will win it. Is it going to be rahm emanuel or his challenger back up or will many members of the black community not vote in this election . It does appear that rahm emanuel is going to likely head on to victory and reelection in the thirdlargest city in america. He was up as much as 20 points in recent polls. He said it has been a humbling experience. He has done campaign ads here where he has the knowledge that he has some sharp elbows. Not everyone gets along with me. I will fight for the city. He has made the feel to black voters directly and they could be the critical deciding factor in this race. Olivia it looks like rahm emanuel is clearly in the read in the lead. But this is the first Runoff Election since 1989. Is this because of the an appeal or loss of support . Peter i would say this as much about a message as anything else to rahm emanuel. Should we garcia did energize folks with the initial election day. Since that time, his campaign has fizzled. The real question about who is going to run the city and who has the financial skills to handle the physical challenges the city faces has been a big factor. Rahm emanuel has made the case that he is the best the quest equipped to handle those problems. He has made some enemies in the progress. Brendan is this a uniquely Chicago Story or is this a broader problem of what the Democratic Party is going through . Peter there are particular chicago issues like Noise Pollution at the airport. I think there is a Larger National story about the divide among democrats. A lot of progressive democrats here in town really campaigning hard for garcia, saying that rahm emanuel has close ties the business. That is something that Hillary Clinton and her campaign will be watching very carefully. The reality is that at the end of the day, rahm emanuel had a better organization. Tom let us turn the louisville kentucky. I know that you will be watching what senator paul destiny. What is the distinction of the Paul Campaign versus jeb bush . Who will he be speaking to today to ward off the advance of the governor of florida . Peter one of the things that you will watch very carefully with rand paul and something that he can tap into that may be jeb bush has not been able to is young voters. This is a guy whos very social media savvy. He talks about issues that young voters are interested in and that libertarian feel with the Younger Generation as something that makes rand paul distinctive. I would be listening for that today. He is different from a lot of the other candidates. Whether that makes him unique and an aberration in this campaign and something that other voters will listen to that remains to be seen. Tom peter cook, thank you so much. Let us turn to viacom. It is a known fact that viacom is sort of a media disaster. It became evident yesterday. According to the wall street journal, goodwill has turned into a bad will. 400 million was on bad shows. It is enough to make you yield for the old days of mtv. We bring in a twisted view on media. This is not a surprise. What is the viacom message . What is the lesson there for the rest of the industry. Guest you want to be aware of changing audience preferences. In the canary and the clean old mine coal mine, you want to investigate where theyre going. The Advertising Products need to match that. It is interesting that viacom has complained about nielsen a little too much, but i think theres a Little Something to that too. It is mindful that if you look at settop box made of that their show that their show may declines. It is not surprising that there is a sentiment around traditional advertising is really negative right now. Brendan it is a surprising thing that there are a couple of shows doing really well within viacom. Should you produce smaller increments . Brian i think investors are certainly receptive to that approach. Traditional tv and bundles of programming and advertising work still. Brendan is a bundle of subsidy . When that subsidy ends, are we going to see more problems like viacom . Brian i think a lot of us watch and be a the tv is just on. We can argue that is not an efficient think. Olivia why are you going to do that with ondemand tv . The internet has made reruns less voluble. Brian a lot of people like tv as background accompaniment. You might be surprised that a lot of people watch bloomberg that dont actually watch it. It might be on in the background. Tom i do not even know where to go with this. Olivia dont worry, tom. Nobody ever watches you. Tom did the advertisers survive given ambient tv . Brian this is an interesting debate. I do not know. Tom thank you. No one knows. Brian no one knows in the Science Behind it is terrible. If 45 of tv viewing on average for the alaska good study ive seen on this is ambient and background and you are doing other things, is that 55 doing all the work . Tom he enjoys his 92nd birthday in may. Brian people live for a long time. Tom 92 and running a publicly Trading Company . Brian i dont think hes really involved. Olivia one source of revenues is the elections. That brings us to our twitter question of the day. We are 500 days away. The you care about the 2016 election . We are expecting rand paul to make it official later today in louisville, kentucky. He is throwing his hat in. Do we even care gekko tweet us. Do we even care gekko tweet us. The sun is just coming up in new york. Tom good morning, everyone. Let us get to the top headlines with Brendan Greeley. Brendan senator rand paul making it official. He will announce that he is running for president. He will formally declare his candidacy in louisville. He is a favorite of libertarians and the tea party. He is also the son of former texas congressman ron paul. Dukes celebrity its fifth ncaa asked ball title. They trailed by nine points, but rallied to beat wisconsin. Tyus jones led dude to became the first fifth freshman to win the final four outstanding playoff player award. The air hernandez trial will close today. Prosecution called 131 witnesses over two months. Hernandez is accused of killing a man who is dating his fiancee sister. Authorities are linking Carbon Monoxide to the death of a father and seven children. Police found the bodies yesterday in a maryland home. A generating generator was being used after power was cut off after unpaid bills. Utilities service was not say when the service was cut off. Paying off Major Hedge Fund companies. 14 this year. A person familiar with the firm says the euro is a big reason that it has fallen 11 . And star wars. The forgotten galaxy that uses dvd and bluray and now fans will legally download all six movies. They are being released friday by lucasfilms fox, and disney. They are also promising an array of extra content. The second movie seven movie hits theaters in december. Looking forward to what we have for you this morning. Tom we will speak about twitter. This is in the court and and important conversation about beleaguered twitter. Then, Brendan Greeley will look at water and the challenges. This is linked into our coverage of the drought in california. And the new york mets won. Awaits, its not a spot. We are looking at the met. We are looking at the metropolitan museum of art and its social media moment. Brendan that was your uptown, british, say tom let us look at oil now. Olivia with a perspective on oil. Olivia crude trading just above 51 a barrel. We are also seeing unusual trading value right now. They are trading lower than the average this morning. This though after oil jumped more than 6 on monday. What gives . Perhaps the report that we saw yesterday that crude inventory at cushing, oklahoma had dropped. That is the first time the report showed a decrease since november. Goldman sachs said that production could peak around 380,000 barrels. I have a note here that says that u. S. Producers responded more aggressively than expected by cutting cap excess and activity. That move they think will create modest upside to the forecast of 40 a barrel over the next three months. Tom it goes against what ed morris said. Theres a big weather going on. Olivia the other impact is what will have on the price of oil. We speak to the chairman about how iran will impact the price. The big notion will be the move to a push into the second half of the year. That is when the big reasons that you saw the jump in price today. Olivia he thinks that is the reason behind the big move. I have another note here from Barclays Says the blue sky scenario is that iran could raise by about 500,000 barrels a day from the First Quarter of 2016. Brendan we are looking at inventory stored in cushing, oklahoma. Theres also year store off on the gulf which is up 17 . In china and asia overall that numbers of 110 . There is a huge number offshore just waiting to be sold. Tom coming up, further, don oil. Frank keating will join us. A regular attendee here. We will speak to the former governor of oklahoma on the challenges of oil. Stay with us on digital and radio and television. This is bloomberg surveillance. Tom good morning. The news is that there is no news on the market. Let us do something smart right now. Let us go to Olivia Sterns. Olivia speaking of smart, im sure that you notice that your favorite jayz album dropped on spotify. Ever since jayz came out and launched title. Professor ben you go to an attorney gary rosen writing about how we need to change the music world in the 20th century. My favorite and it they say that Desmond Child, the cowriter of bon jovis living on a per, recently reported that the song have been played 6. 5 million times on pandora over three months, for which he had earned 110. Ouch. This is clearly a nice signal that something might be wrong with this music Business Model and the way that we over royalties to songwriters. Tom looks like your lady. Brendan status that is so not the song. Tom Desmond Child wrote that one. Brendan Desmond Child wrote the soundtrack to my youth. I had no idea. Tom he is known for bon jovi. Im so glad you brought this up. When you see me get on the set and all the sanctimony about digital stuff, this is what its about. James taylor is suing and others are suing. Olivia that is about copyright. This is about how much the songwriter gets for the slice that the songwriter actually gets. Brendan jayzs move to title is an increasing concern that although streaming worked out for labels, it is not working out as well for artists. Olivia it used to be the dream that everybody wanted to create the next hit and now everybody is better off and young people want to create new music sharing apps. Tom i was still old songs and regurgitate them into a hit. Olivia i know you are a big bloglines fan. Blurred lines fan. We will talk with brian loser of pivotal. Tom it is a beautiful spring morning. Spring is here finally in new york city. Lets get you top headlines. Olivia he is a frequent antagonist of leaders of his own party. That should make for interesting moments on the campaign trail. Rand paul will announce that he is running for president. He has already released a Campaign Video on youtube. It is time for a new set of ideas, a new leader, one you can trust, one who works for you. It is time for a new president. [applause] olivia he plans to focus on young voters and he will answer questions on facebook. Voters are deciding whether to give Mayo Rahm Emanuel another four years. Whoever wins will try to reverse a fiscal decline that has left chicagos fiscal rating just above drunk above junk. There is little question about what the jury will do in the Boston Marathon bombing trial case. His lawyers say the attack was masterminded by his brother who was killed in a shootout with police. Brendan 4. 8 billion for fedex to buy tnt. Want a College Scholarship . Work for starbucks. The company will pay full tuition for workers to get a degree at Arizona State university online. The chain is looking for ways to attract workers in a tight labor market. President hosts in easter Prayer Breakfast. It will not be as exciting as the easter egg bowl yesterday. The president was reading a book to the children, when these decided to make an entrance. They want sting you. Tehey wont sting year. They will be ok. [screams] [laughter] brendan the white house keeps bees to produce honey. Tom rand paul did that. Brendan that was actually congress. Tom the honeymoon is over. Twitter has to figure out how to turn a profit and make money. We have an important conversation now. We are honored to bring you the metropolitan museum of art. What can you learn from other businesses . I think there are so many different ways to reach consumers at an International Scale using Digital Media that it was not easy years ago. Tom can you monetize it . Absolutely. You have to think of twitter is a different medium. It is fundamentally different in its use and how people react to it. Brendan i want to bring up a chart. This clarifies the difference between facebook and twitter. Facebook has taken its user base and it is using it for other things. Twitter has not done that. They have not taken their social graph and used to the user base for anything other than twitter. They are starting. They are early. They are still young. Tom how did you do twitter with your exhibit on the plains indians . Give us examples about your