Coowner tells us how to maintain the comfort of your pretty pooch when you go on vacation. Lets get headlines. Cut itsmf has growth forecast for this yea r. Downwards ofvised 2014 numbers. We do not think that it will be a downward spiral. We believe that 2015 will be at 3 . However we have revised our growth trend on an ongoing basis to 2 . Ofhave done not on the basis the aging of the population on the basis of lower productivity based on latest trends. She added that the Federal Reserve may have scope to keep Interest Rates at zero for longer than investors expect. General motors recalling 3 million more vehicles. Announcement rings the total recalls this years to 20 million. Addattan is poised to the most office space in 1990. Those are the headlines this hour. Thank you. More on general motors. Expected tos testify before congress on wednesday. She will be appearing before a house panel, and matt miller, bring us uptodate on what is happening at general motors. It is recalling more cars. Julie hyman put it really well earlier, they have a kitchen sink approach now to recalls. Theyre going to recall aggressively and as many cars as they can for anything they think may be out of order. In the past we have seen recalls for small things that may not affect the safety. , 3. 1 6s a real recall million vehicles they know of, with eight injuries. It is the same kind of i gnition switch problem that they recalled the vehicles at the beginning of the year for. Vehicles, it will cost them 700 million. That will be a grand total of 2. 3 billion that this has cost them year to date. That number will only continue to go up. Ken feinberg has yet to release his findings. There were probably be calls fine orgress for a real punishment of gm like we saw in the case of toyota. Criminala 1. 2 billion fine for the recall issue which had to do with the excel ridder or pedal. Accelerat fromhevy and follow a couple more buicks, and chevy monte carlo, it is a wide range and you can expect to see more of this from gm. They want to get as much of the out of the way as possible before she goes to testify before congress. Do you think that gm has a check that is signed and they are waiting for ken feinberg to tell us how much to fill in . Absolutely. They want to say that they do not want to forget about this, they will keep it in mind going forward, but surely they want to give over the top it over this hump. Says how much,rg they will sign it and given to him. They cannot get over this quickly enough. And they want customers to focus on the good products they make now rather than the products in the past that may have caused accidents, injury, or have been fatal. Thank you. Now to other headlines. A smaller is buying rival at almost 43 billion in stock. Headquarters to ireland from minneapolis, they say they will free up almost working billion dollars worth of cash that is trapped overseas because of u. S. Tax policies on u. S. Profits overseas. Discuss this is our Bloomberg Tax policy reporter. Thank you for being here. I want to start off with zach, what is the tax issue that the med tronic and other u. S. Companies face . Years, the past three they have recognized a lot of its profits offshore in other countries. They have chosen not to pay u. S. Income taxes must so as those profits accumulate they would like to use them for something, but they cannot do it until they either pay the tax man or instead with you doing now. Becoming an Irish Company that will give them access to that cash. Let talk to the Strategic Issues related to this acquisition. What does med tronic yet after it swallow this company, does it become different . It becomes a more diverse company. Largestbe the company in that is this business. Surgical lot of materials and equipment, consumables, the things you use during an operation. It will be a very diverse product line. That is why people say this is becauseut the tax, there is no synergy in terms of manufacturing. Broke, theyry first knew it had to be a tax play because there will not be a ton of cost savings in terms of what they do. Theyre going to avoid the tax man with some of this. Is it possible that the European Union is going to investigate the irish tax rate , maybe raisedns by 12. 5 . Will they try to harmonize tax rates across the eu . The situation and a lot of other countries is not that different from ireland. The United Kingdom is becoming just as popular in some areas as ireland is right now. The key differences is that a lot of countries am a big developed countries, do not tax the poor and profits of companies incorporates it into their economy. Has a highstates rate and they tax overseas income. And that is why people do not want to be american anymore. Is that related to tax s may face . It is analogous in a way because even if you live in germany and maybe have to pay taxes there, if youre a u. S. Citizen you will will be on the hook were u. S. Taxes very david, when these two finishes are able to this merger, does that increase the option for more m a . Ducknationater cell consolidation. Dowhat everyone is trying to is figure out how they can do a similar deal, and do what these doing so they are can have toward heaven quarters and not be taxed on their overseas income. Rather than have them close off any more chances of a deal like this, if parties cannot come to agreement on how they would change the tax code, you can lows off that loophole. Different yours that can do a deal like this sectors that may do a deal like this. Thank you for sharing your thoughts and giving us more detail. Up about from cover model to a model for entrepreneurs. Kathy ireland reveals the Lessons Learned from her business success. Tomorrow, the annual licensing expo in las vegas. Licensing expo is the place that you go to to do some deals. Also to build your brand. Kathy ireland started selling socks at kmart. Finding success, she is now a business. On tell people what is licensing expo for those who have never attended . Thank you. Is theng expo intersection of commerce globally. It is the Academy Awards for the licensing industry. Manufacturing, some of the most powerful brands coming together. A company exhibits each year. The first year i had the privilege of giving the keynote speech, following the followed and the following year it was given by gwyneth paltrow. It is a wonderful opportunity. Tell us about the transition you made with your career from the modeling industry to turning your vision into a brand that encompasses many different lifestyle items. I entered the modeling industry as a business person already. It was never part of my plan, but i was grateful for the education. Being a person in design and business, the transition was always there. My eyes were opened when i worked in the modeling interest read long ago. We knew that i belonged on the other side of the lens, it just took the air while to get there. Get there. A while to and with licensing, it is the that allows powerful brands to focus on their intellectual property, route ather than working in the area of manufacturing for each of the categories in which we serve our customer. We cannot be all things to workone, but our partners with our team very closely, they follow our specifications, our design, our vision. What we get is an implementation from listening to our press tumors our customers. I have the best boss in the world, it is primarily the women of the world, and the guys as well, we are expanding our brand. Give us some specifics. Accessory, jewelry, furniture industry, your presence at all of these, tell us some of the products and things youre most proud of. It is difficult to pinpoint one area in which i am most proud. I am proud of our team, i am proud of being able to be of service to our customer. Brought in its category, everything from Home Entertainment and publishing. We have a long way to go. We are a baby brand and were just getting started. In the area of weddings our destinations, we are announcing next week that we are opening a new destination in fiji where we can serve brides. Many years ago, the little girl that i designed a bedroom set for, she is coming to us. It is all about relationships, trust, you have to give it right. Liberty endorsements are wonderful if youre a celebrity, but one of the big distinctions between a brand and a celebrity endorsement, if we have a season sell throughnot with our product, we do not get paid. Celebrity endorsements get paid, which is good because they should because they have built a brand. They should go on in that area they became famous for, acting, singing. Ir the brand that we built, was ok as a supermodel once upon a time, but i do not we could brand on a something that was so passing. This year we are celebrating our 21st year. And even before the kmart socks we were in some stores, where we focused on the inne independent channel for distribution. We were able to be under the radar for so long because independent retailers do not have large at budgets ad budgets. We build relationships one at a time. Thank you for joining us. Getting ready to go to las vegas for licensing expo. Up, as seen on tv, the creator of the infomercials describes his market for online funding. The crowd funding market is growing. And hasept was created increased exponentially with companies all looking to raise money from the public for a variety of projects and services. According to one Research Report is expected to be a 93 billion industry by 2025. Us to discuss is kevin harrington, pioneer of as seen on tv, and kendall almerico. What is your role in this whole idea crowd funding . Are infomercials, but this is a twoway street. You put something out there, and you hope people say they want to invest in that. Investors come to me every day, and they need capital because they have an idea but they do not have the money to execute the manufacturing and patents. I have either written a d, butor finance, now i can say lets crowd funded. Ers ofh the kickstart the world you are prepurchasing a product. Youre giving a donation in exchange for something. What is coming is equity crowd actually purchase stock in a company. Instead of buying a product, or helping them out with a donation, you are actually purchasing a share, a part of the company. If you hit the right company, that hundred dollars can turn into millions. What role will you play in this . U can put up a lot of things online, but you do not know what will take. There is a lot of legal involved. Andcannot just go on a site say send me money. Theres a lot of compliance, things you have to do with the sec, a lot of filing. Once you have gone through that compliance you are allowed to sell the securities through our site. It sounds a lot simpler to the public and it is behind the scenes. Is this going to change not only the way that Companies Get funded, but the kinds of products . Because as seen on tv, those are typically product base is this businesses. Are you able to guide them and offer them specific advice . Yes. Also what will happen is that people are going to be able to do some of this on their own. Ve to comenot ha to the Industry Players Like myself, they be be able to raise the capital themselves. There is a reason they come me, they doke not have the capital. They will still need advice, and that is why people like kendall will be there to give them advice on how to do it so they can comply with all of the regulations. I think youre going to see many more people coming into the market that are able to do it because they are going to use the crowd to fund their idea. An idea ofgive us what timeframe you will see this happen where you can actually buy shares in a company through these sites . The law, the jobs act, was passed in 2012. The law inosed to be january of 2013, and we are now in judah 2014. It is whenever the sec rolls it out. I will be the one telling you all about it. Thank you. And kevinmerico harrington. Coming up, 3d printing. This is taking stock on bloomberg. I am pimm fox. Now for a look at the headlines. Thank you. More on that gm recall. The company is saying it is replacing the keys on more than 3 million additional cars movese too much weight can the ignition switch out of the run position. It knows of six crashes related to this problem. Organizationntal says it lost more than 5 million last year after one of said that the euro would would read week remain weak. Level three is one of the companieslivery for google. Has yet to become a publicly traded company, get it has given us new details about its business. Thelowed Revenue Growth in Fourth Quarter and margins that contract did. He did not bode well for the shares of yahoo . About alibabaarn today . One of the biggest things we learned was that the company is not going to grow at an incredible pace forever. While it was great revenue fromh, the sales went billionbill into one 1. 9 billion, which is great. The fourthquarter growth free reallyating accelerating, they were hoping the trend would go better into the ipo. Yahoo shares down about 5 today. What is yahoo s position on alibaba and what is going to do with the stock after ali baba goes public . Were going to sell some of it isares under the ipo, a substantial portion of the company. It will raise a lot of money. We do not know what they will do with the proceeds. Fundamentally god who will walk away fundamentally yahoo will walk away from this. They have some wiggle room. Sense ofrt to get a what the Market Reaction is going to be, they may sell even more in the ipo deal. If alibabas business is doing so well, why would they want to sell it to the public . A lot of investors want their money out of this deal. They have watched it grow to a , and when it rolled over like that, they are willing to endure the burdens of having to share the results with the public and actually tell us what is going on. Eaterurdens are gr than in years past. I think that fundamentally with this company is what we see is a company not growing as fast, but still growing wonderfully. When the ducks are quacking, feed them. That is certainly true about industry. What about those margins that were contracting . The Profit Margins and Gross Margins were a little bit lower. They have had consistently lower Gross Margins, but when they have gone to everyone percent Gross Margins 271 Gross Margins, that is a fantastic business. Lets compare ali baba and china to walmart in the u. S. Represents about 200 basis points of all of the gdp in china. U. S. , three bases points in terms of its contribution to gdp. This is a massive lay on the chinese economy. On the chinese economy. This is also the reason we see a lot of companies being acquired by alibaba in the u. S. This is a proxy for growth in the chinese economy, and the results show that. Thank you for sharing that. Lets stay with the theme of technology and asia. The worldwide 3d printing market grew by 35 last year. Meckler. Ed by alan ps just returned from the first inside 3d printing trade show in south korea. While youou witness were in south korea for the 3d printing trade show . Shock and awe. It was a feeding frenzy, starting about 10 00 a. M. On the first day of the show. Hordes of all showed up pe ople showed up. It was walltowall people. Nextsted for two days, year it will go three days, maybe four. What was amazing was some of the Korean Company said we have no knowledge of in the united that are claiming they will control the world of 3d printing. Did you have to take pictures of all of this . Any of those Companies Going to go into your mutual fund . None of them are public right now. There is one company that i had rokit. Eard of, the ceo was the keynote speaker and he came right out and said ceo spoke, that they would become the biggest 3d desk top printer in the world. Ofple are getting ahead themselves, not understanding that it is not 3d printers in the home. In this 3d printing and manufacturing, were coming into a third Industrial Revolution right now. That is the part that the Financial News and the popular news does not understand. What about the performance of the fund . You ande when i spoke at the beginning of the year when you started this fund. Main, fewer 3d printing stocks is about 30 down. But we are having a nice run right now, and we are not in that short term. Our whole model is based on investing, and we do not believe the first batch or is even out of the dugout yet to give a baseball analogy. You also have a background in the media business. Ma sought me out d china when i toure , and wanted my validation because i had been in this space for so long. You connect alibaba to what is going on in asia and the attraction at this trade show. Work deals getting done . But was not privy to that, theres no question in my mind that there were western Venture Capital people there, as well as koreans and other agents. Sians. Three other companies around the world have contacted us about starting 3d printing and other countries. We will shortly be announcing taiwan and the netherlands. When is the next important 3d printing conference that people should put on their calendars . Melbourne, australia, and july 10 and 11th. And then were doing the first whenever in hong kong at the end of august. Japan in september, and then santa clara, california in october. Some frequent flyer miles. Thank you for joining me. , how about a vacation for you and a staycation for your pet . And i also talk with the creator of an app that helps you to create your own animated videos. Would you like to create your own animated movies . What about skit . A Software Designed to be easy enough that anyone can create their own movies. The Company Behind skit has reached a deal with warner bros. To feature characters from the lego movie. The cofounder is of storytime studios. Thank you for being here. You try to describe something that is best seen. An app is something you associate with a mobile device of some kind. What would you see if you downloaded this mobile app . What would you do . The best thing about skit as it rings out the creativity that everyone has. We believe that everyone is creative. It allows them to create the story together and share