Stocks after starting out looking like it was going to be a rough week. Well see how friday finishes out but things are flat right now. Jack dorsey heading back to the helm of the company. Hell going to run things why they try to find a replacement for dick costolo stepping down on july 1st. Shares did pop on the news yesterday afternoon and you can see theyre up almost 5 in the premarket and as we said we will be talking more about that in a little bit. In addition alstom is defending General Electric deal to officials. The french Engineering Group is trying to sell its power business to ge. Reports of a statement of objection from the European Commission did not prejudge the outcome of the inquiry. Retalked about this on the show but they suggested qe needed to offer bigger concessions to win eu approval it needs to pay for an expanded recall of cars. In other corp. Gnat news we just talked about blackberry may put Google Android software on one of its devices for the first time. Reuters says the change well according to reuters would be an acknowledgment that blackberrys devices failed to win mass appeal. So reuters figured out that no one has a blackberry except becky anymore. Reuters shunned android saying the blackberry 10 line would be able to win back market share lost to apples iphone. Hopefully nobody tweeted anything about you yesterday. When i have my iphone charged i can see it there. I didnt have it charged the other day when you were sending me things. So if you had to pick one to charge and one not to charge. Its the one that i have the charger for and by the way, the iphone runs out of charge faster than the blackberry does. Is it an iphone 2 or something . 5. 6 is a little better. A little bigger and a little better. You have the 5. I have the 6 regular. You do . I do. No i have the six regular. Does that make you superior to me. No. I do not feel anything. I feel completely what have you got there . Thats true. Hes got the six. Yeah i do. My kids bought that for me. You thought it meant something. You thought i was one of those militia types in western jersey in the bunker. On todays squawk planner well have inflation data. The may ppi rising by. 4 and eight ten a first read on june consumer sentiment. A key number for the energy market. The north american rig count will be released at 1 00 eastern. Thats a weekly census of the number of riggs actively exploring for or developing oil and natural gas in north america. By that i mean United States and canada. Mexico. Mexico is part of it. Lets get a check on the markets this morning. As we showed you, the futures are relatively flat but you have to look back at whats going on this week. Stocks were up once again. They didnt hold on to the gains we saw around this time yesterday because there were concerns that the imf said the greek bailout talks had stopped and they werent making these discussions anymore but you did see the dow up by. 2 yesterday. If you add up what happened over the last couple of days its the best two day gains for the dow and s p 500 in a month. Theyre on pace for the last week since late april. The dow snapping a five game losing streak if it can hold on to things today. Take a look at the early trade in europe and you can see modest declines this morning. The dax is down slightly. Ftse is down by. 3 . In asia overnight you saw that the nikkei was slightly higher. It ended up over. 1 . The hang seng up 1. 4 . Oil prices look like they are sitting right around 60. They have given back around 1 . And if you check out the yield, on the ten year note youll see its yielding back below 2. 4 . 2. 39 after touching above 2. 5 . Highest levels in about 8 months. The dollar this morning is up across the board. Euro trading at 11188 and gold prices look like they are slightly lower. 1,000, 179 an ounce. Lets get back to the biggest story of the morning. Costolo stepping down at twitter. Just two weeks ago kara asked him directly if he was planning to stick around. Listen to their exchange for a moment. So youll be there at the end of the year . I have to focus on my job and what ive got ahead of me. I dont worry about am i going to be working here on this date or that date. I focus on my job. And you feel youre in sync with the board. I dont feel like im in sync with my board. I know i am. We communicate regularly. I probably overcommunicate with them and were in sync. He told investors theres never a right time to begin a transition. We want to show you whats going on over the past couple of years here. Look back at the leadership. Theres been a lot of transition and maybe explains a little bit about how they have developed this narrative about how organized it was this time and then Evan Williams stepped in and kicked out jack dorsey out of that role. Someone they trusted. The relationship went sour. This all went down from the height of the financial crisis and then what you had was Evan Williams had been running the company and then he jumped in and took his role when things were not working out there either and well now were back to jack dorsey. I have been making lots of calls. Theres a couple of points to be made. Yes it looks like he jumped but it was it appears that he jumped before he was pushed. He started making noises about this in january that he might want to leave but there were already noises on the board before we started talking about it that he should be leaving. So theres a disconnect of whats going on. One of the things they tried to say over and over again is im leaving and im not taking no severance pay. Because he is stepping down himself. However two things one is they extended the contract to july 1st so he gets 6 million. Thats the day that the shares vest, his last so he gives up 10 murder in the second degree. You can say what you want about that. But the other thing thats the larger point is if you really wanted to leave on a high note you would have tried to sell the company. One of the things i did learn over the past couple of hours yesterday was that they have had talks with people like google and others and its not so clear that google and others want to buy this company. Thats why the market cap is 23 billion. Thats the biggest problem that they face. If you really western being pushed there were a lot of other things that would have happened. He is giving up 16. 8 but hell still get a different 5. 6. You say that comes down to giving up 10. I think its closer to giving up 10. They use a 17 million and then 5. 8 million. Because theres 5. 8 million that comes due literally in just a couple of days. Right. Nonetheless anyway i will just i have serious questions about the narrative of how this happened. I also think they began looking for an ceo two or three months ago. Theres feelers been put out by Board Members and other things. Whats interesting is dorsey is not on the committee. And another thing is somehow he says if i leave the company right now then it makes the transition easier. Wont be rumors and speculation and well be able to operate our company. Hes staying on the board, right . Hes staying on the board and now that jack dorsey is in this role it will happen anyway. Hes not on the Search Committee and Evan Williams is. Thats true but does that change the dynamic in terms of the rumors and speculation of who is going to take over the job and what its going to do to the company . They can ask dorsey to stay . They could. But he doesnt want to pursue a different strategy than the current strategy thats already laid out which isnt working. I dont know if its not working but he lost a lot of its hard to work for costolo it seems like. Right out of the gate with him. Some left on hill. Some of them he pushed out. Anyway the decision to leave twitter at the end of the month causing a frenzy of tweets. Whats next for twitter . The person thats got the answer this morning, she knows more about this than all of us combined, she is in los angeles this morning. Good morning to you. Jack dorsey back as the interim ceo o ceo. He is sticking with the companys current strategy. One of the reasons that im stepping into this interim role is because of the belief i have around our direction and our strategy and specifically around the product. I have a lot of context for it as chairman as talking with the Management Team running its and i believe its right and i dont anticipate any change. He will remain on the board as twitter begins its search for a new ceo. Former ceo will be part of the Search Committee. Now internally there are two names in focus. Adam bain currently head of global revenue and partnerships. Hell well liked in the Advertising Community but criticized as not having product experience. He noted the companys cfo is said to be too much of an outcider to Silicon Valley as a former wall street banker and lacks that product experience. This management shake up is likely to fuel more m a talk. A long timeshare holder saying that twitter would make a good fit for google and on the press call he said while the board would evaluate any offer the po cuss is on maximizing twitters value for shareholders and theres no reason that twitter cant do that as an independent company. Thank you julia. Join oing using us with more is anthony. Hes security senior analyst. You heard our discussion earlier. What does the company need and who is the person that could theoretically do that . They need someone very product focused. You have to think about it in terms of user growth which is stalled and then in terms of modernization which is decelerating. Can it be a financial person . Can it be the cfo . Its more likely and probably most likely to be a product person. Somebody that can convince the mainstream what to use twitter for. How do you keep regular people coming back to twitter . Right now theres a lot of Internet Properties charger than twitter in term of users. Facebook, marijuana, instagram, more than likely a product person. If youre not in the use business like us i dont like tweeting very much. But i like once in awhile instead of going to a news service ill see it there. Thats where i found out about the Boston Marathon bombings. All of that. You see it all there. But if i wasnt a news person i dont know whether id want to hear what someone was saying and i dont know if id want to say anything so that everyone else can hear. Id go to instagram if i wanted to share pictures. What is going to attract people. When twitter was founded there was a conversational element it was real time public tweeting and conversation with celebrities and political figures and things of that nature. Messaging apps have taken a bit of the market share of that use case and twitter has become a broadcast in a lot of cases. Its for big events. Lets hit twitter for the latest real time information about that. That has value but most of us would like to connect with our family and friends and thats the case for book. Twitter has one fifth the users of book. Is it because the market capitalization is at 23 billion . Are they being coy . Thats a factor. We know they had interest in it in the past and the valuation of twitter has come a long way and its long rumored that google could be interested. They already Work Together in two major ways. The search agreement that was forged and the double click deal. Once you have that agreement in place you actually need to own the company. Yeah. Youre already leasing what you need. Why buy it. Right. So once people admit im going to stay on it how do you get somebody to buy something based on using it . Thats the second thing. Now i understand i get promoted tweets. But theres this idea that eye balls will translate into some positive thing that happens to people that put stuff on it. Im not convinced it does that. Thats a tough sale too. The monetization part. They did hit a wall in the First Quarter in terms of the ad growth. Its about direct response advertising. So these are commerce based ad formats that twitter has on its feed and the engagement rates on those ads are quite low and that suggests the engagement with the content is low. If youre not going to favorite it youre not going to click on the tweet. Then its less likely youll engage with the ad and that really puts a lid on the monetization. Do you get those things and i see it and its like what is this . And then i hit it and it says get rid of it tweet is irrelevant. It gives me choices for why im getting rid of it. Whenever anyone that i dont follow tries to i feel violated and i do tweet is irrelevant and it goes away. Youre happy again. Im happy again. Thats a sponsored tweet. Not only am i not buying what theyre sponsoring but it annoys me. Maybe what some might say is that google or facebook have come a long way in terms of number of advertisers, their add technology, their ability to measure the effectiveness of those adds could strategically help twitter in terms of the adds. Whats the value of this company . Somewhere in the low to mid 30s. Thats a premium from where it is right now . Yeah the thing about it is it does have unique characteristics in terms of that news broadcast use case but it has a history of volatile management. Thats lower than where it is. Thats lower than where it is. Its at 37. Im neutral on it. Youre thinking 23 million market cap. Stock price. Im talking market cap. You think below where it is right now. So the question really is because of the volatility in leadership is it worth more in the hands of somebody who has a greater tool of advertisers to draw from who has better ad technology. Thats a hard question but its the question well ask. Roger was here and he said last week that look its great product. Somebody could do something with this but you sound less convinced. You can do something with it but not from here. Its an excellent niche product for the use case that were talking about this morning. I think its unlikely that it becomes Mainstream Media reach product the way Network Television is. The way the ambitious statement of the company lays out. I think it has a place and its a very valuable place but its less of a mainstream audience. A great line yesterday, sarah lacy wrote his biggest problem is he was the coo of a company while book exists which is basically its not book and it never really will be facebook. Yeah. Even though they sort of built this argument and arc that they could become facebook one day. They do have something that facebook doesnt have. They do have a use case thats unique and different but they havent been able to grow those users. 302 million users and facebook acquired whats app and that has north of over 700 million users. I know. Facebook messenger. Wheres the audio guy you said it. You brought it on yourself. I stopped doing that to you . He used to get so mad. Thats amazing you guys pulled it up that quickly. Cannot we get it up quickly buddy . Am i right . Or am i right . Thank you. Thanks for having me. Programming i got that. Got to be quick. Got to be quick. Thats for sure with you. Youre quick. I know that. Anyway. Kidding this squakward moment is brought to you by joe kernen. I disagree with that. I vote in favor of you. Im going to get more awkward here. David faber will be joined by this is amazing, dick dick costolo and jack dorsey at 10 00 a. M. Eastern and then an exclusive with rupert murdoch. Im kidding. He broke that news and now hes going to have these guys this week. Did anyone over at the other organization mention that cnbc broke the news about thats embarrassing isnt it. I dont know what organization youre talking about. Thats a little embarrassing to have to in your report say cnbc first reported. Its complicated. It s. But he doesnt have rupert. By next week maybe. Lets hope. What did you say earlier, hope springs eternal. I saw the other night the person that coined that term and i forgot who it was already because im old. They did say that and i cant remember. Ultimatelyall about the markets. Its good to be hopeful rather than give up. Morning in america. Morning in america every morning. Whats up . See you later. Come back. Will you come back . Absolutely. Well talk about netflix. Coming up when we return shocking new numbers on cell phone saturation and how much data well all be using just a few years from now. We got the ceo of ericsson thats going to join us next. But first heres a look at this date in history. Implths welcome back. Smartphones are a tapel in our every day lives but is this just the tip of the iceberg. Ericsson is out with a new report of revealing findings on our obsession. They believe by 220 70 of the worlds population will use smartphones and carry the equivalent of 4. 2 billion movie downloads. Lets hear more from hans who is the president and ceo of ericsson and joins us from stockholm. Thank you for being here. Thank you. The numbers that i just shot off, what does that mean . How much growth do you think well be using in term of the data we pull off the Network Every day by the year 2020 . Its staggering numbers. Well see exponential growth in the next 25 years. We need to remember its 500 million subscriptions in the world on 4g and the majority of the mobile subscriptions in the world are still on 2g. So the next five years theyre being built up but the prices of hand sets coming down makes this in the Biggest Technology that has ever been deployed so this will have not an impact on people like you and me having a smartphone. Well see industries being transformed and of course society where impact is going to be on everything from health care education, et cetera and thats what were going to see and well already see a lot of disruption based on whats going to be so vastly deployed all around in the world. We had localities of discussions here in the United States about how were going to handle all of that data. The networks need to be built up substantially to be able to handle that. How does that play out for people in terms of paying to access broadband . Who pays the networks and are we up to the task of being able to do that . So far thats what we believe in the future. The data will grow. We believe its going to grow nine times the next five years and three ways were going to solve it. One will come out more spectrum in the world. Second every new technology from 2 g to 3g or to 4g is more efficient and finally we constantly innovate new ways of sending all of these data bits in the air. Were spending 5 billion u. S. Dollars in research and development every year to innovate that. Those three together mainly will make it happen and actually then were going to see all of these Networks Coming out all around the world. Were in 180 countries. We see what is deployed and we see the movement from 2g phones to feature phones to smartphones and the networks is already there. We believe this is a se mario thats very much likely. I think its a physics question or maybe a question about the world of cable and television in the future. Were talking about this in the context of smartphones and Smart Devices and maybe they all still will be. But do you see a time 5 to 10 years from now where people in their home get a majority of their Video Services wirelessly . Yes, i do and if you look into that nine times data growth the majority of that is video. We believe that in all the networks by 2020 60 will be video. We are talking about the whole world. The majority of the worlds population will not have a tv set. They will enjoy that on some sort of a connected device in 2020. In africa its 70 million mobile broadband connections. By 2020 700 million. So its a tenfold growth on how many people in africa thats going to have access to a connected device that can stream down tv and media so were going to see a transformation on the whole tv and Media Industry that we havent seen the start of because so many people on earth can access it in a totally different way. All right. Thank you very much for joining us today. Coming up we have a story every consumer should hear but actually knows about. You know how they do this. You just open a bag of chips. How companies are raising prices without you knowing it. I think you suspect it. But well talk. New york state is reinventing how we do business by leading the way on tax cuts. We cut the rates on personal income taxes. We enacted the lowest Corporate Tax rate since 1968. We eliminated the income tax on manufacturers altogether. With startupny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. All to grow our economy and create jobs. See how new york can give your business the opportunity to grow at ny. Gov business can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . Speaking of twitter, i might use this picture. Its not a great picture but yesterday as i was railing on you about the seersucker. You found the actual picture. I remembered my high school. And look at the tree. The plastic tree behind me. You know ive never i was adopted. I found my whole birth family right . So i have a brother. A surgeon in cincinnati. He is awesome. He found this and sent it. He when there. This is my high school yearbook. He had a way of finding it somehow. What i was going to say is obviously ive had a baldenss issue. I was obviously totally bald. All the way back then. But i had a seersucker for my high school graduation. Its beautiful. You tweeted out all the shot from all the senators. Youre in good company. Youre in good company. Big thick tie and did you see that feaux wood tree thing. That was feaux wood . Yeah it was this thick. And remember that was a long time ago andrew. It was in the 70s. You should get that on facebook. Why dont i put it on my twitter thing. Thats a good idea. So do you feel better now . When i wore it was 45 years ago. So i was walking down the street in my seersucker suit yesterday. I didnt know if i was in a Halloween Costume and people were saying good look. That wasnt a mullet by the way. What do you consider that . That was the feather. Did you have a comb in your back pocket. Handsome man. I was better looking when i was young. Another story is how to come up with price increases when the consumer and public is not ready to go through with it. We were talking about how twitter stepped in it im sorry, netflix stepped in it when they raised prices so suddenly and the analysts we were talking to said they tint do it the right way which is to sneak it in in ways that the consumer done realize. Thats been creating a problem lately. You know about this. This doesnt surprise you. Im not surprised but the ftc is pushing back in some places. Companies are giving you less and less. Theyre not shrinking the packaging size but putting less of the product inside. Consumers are so upset they brought class action lawsuits. Competitors that brought lawsuits saying theyre cheating. Theres regulations about how far you can push it. It used to be 8 and now its 6. But it does note on the front net weight. But they cant raise prices so they do it this way. Procter gamble old spice faced complaints like this in september. You cant see how much was in it but they were putting less and less in the bottles. Slim jim got in trouble for violating some rules. Do you know what its called with toilet paper, desheeting. Thats what i said. Did you see that . I did see that. [ toilet flushing ] there you go. The comedy jokes. It will not stand up in court. Its because im from cincinnati. I say robutt. Its a little funny. This squakward moment i said desheeting. One of Elizabeth Warrens former colleagues says the senator has it all wrong on the sec. We want to hear from you this morning. What story is grabbing your attention. Tweet us squawk cnbc and well share the best of the bunch. At 8 50 eastern time. Squawk box returns in just a moment. When a moment spontaneously turns romantic why pause to take a pill . And why stop what youre doing to find a bathroom . Cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use. Insurance coverage has expanded nationally and you may now be covered. Contact your health plan for the latest information. You wouldnt take medicine without checking the side effects. Hey honey. Huh. The good news is my hypertension is gone. So why would you invest without checking brokercheck . Check your broker with brokercheck. I dont know if we have shown that shot but thats the team that makes this whole thing operate. Have we shown the shot of the control room before . Theres the dream team right there. Right this. Who is that Homer Simpson character right there . Who was that . Its from a simpsons episode where mr. Burns, homer puts on a toupee and he says i like it. That was your husband. You were going to out him . No you are. Thank you. Homer quick. Were going to turn the conversation to Elizabeth Warren and a lot of drama. Now one of her former colleagues from harvard weighing in on a new opinion piece. Its titled why he liz belgElizabeth Warren is wrong about the piece. We should tell everyone senator warren slammed her in a letter earlier this month and in your piece you wrote the following, our attention should not be on sensor warrens flimsy attacks on chair white. Instead we should be focused on the regulations that would protect investors ensure our markets remain competitive. I want to play a quick clip of Dan Gallagher that defended chair white. I have been on the losing side of way too many votes with her. She has been ruthless in pushing through some of these rules. I reason her ability to do that and her desire to get them done but the notion that its stalled is just silly. Talk about this piece, you have a problem we Elizabeth Warren but do you have a problem at all with Mary Jo White or any of the things she has been critical of . Are you me do i have a problem with that . Whether any of her criticism, this is Elizabeth Warrens criticism of Mary Jo White is valid. None that she recently voiced, no. So for example she raises issues about conflict of issues with Mary Jo Whites husband which have created all sort of problems when it comes to votes. She has had to rekuzcuse herself. You have no problem with those things . Senator warren said she focused on one out of 1400 enforcement cases. Theres no evidence that Mary Jo White has rekuzed herself on more cases than other sec chairs in the past and focussing on one, you know seems to me to not be a good idea. This is a tough prosecutor. Thats why she was chosen as sec chairman and shes had a lot of experience which helps her do her job and if you have experience in the past there will be cases where you recuse yourself. Shes been in the job about ten years. What kind of grade would you give her. A plus. Even when it comes to dodd frank. They are left on the table. Theres a lot left for everybody. So i dont see any evidence that the fcc has been you know dragging its feet at all. Theres a total of over 450 rules that had to be implemented as a result of dodd frank. Some of them incredibly complex. The sec spent an enormous amount of time dealing with money market reform you know those are major undertakings and, by the way, all of that requires funding. And i have not heard anything from senator warren about add adequately funding the fcc. A number of people said it doesnt need any more money. Its budge increased about 12 compared to the banking agencies. Why does senator warren call out for more funding. Did you get along we Elizabeth Warren at harvard . Did i . Yeah. I was a great supporter of her coming to harvard and she was a great professor at the law school. How would you judge her in her new role then . As a senator . Yeah. I think, you know certainly she has become prominent for a particular point of view. One which i dont share. But i think she has been articulate in that point of view. Where i find fault is in her increasing tendency to make personal attacks as in the case of Mary Jo White. She has done this before. She attacks scott alvarez, the incredibly well respected longterm General Council of the Federal Reserve for speaking out on a factual issue about whether the push out rule would really make a difference. By the way a rule that warren opposed but president obama supported. So i have no problem with her positions even though i dont agree with them. What i would find fault with is personal attacks. When a very well respected wellknown senator as senator warren is attacks individuals it gets a lot of attention and im afraid that it kind of almost borders on bullying and demonizing, a word actually that warren buffet used. Youre going to be accused of some type of gender discrimination just for saying that professor which is the other thing that drives us all crazy here. You cant even criticize Elizabeth Warren. It immediately goes to someone said yesterday jaime dimon was man banking because he tried to defend banking. Thank you for joining us this morning. You know that your husband and i have been together longer much longer than you and your husband have. Thats true. 23 years. Yeah. I love him. You know that. Youre not mansplaniing. I love Homer Simpson too. You have a long history. We do have a long history. When we come back this morning, consumed, the real restaurant business. Well talk to a woman behind the new york city upscale business trying to win over the citys critical food press with an expensive relaunch. Well be right back. Some breaking news out of europe. Former imf chief dominic strausskahn acquitted. Dsk said he did not know the woman who took part were prostitutes. Todays verdict closes four years of legal drama. Try to say that with a straight face. And thats the story. Is that really is that like a broadcast term . The word there you used. I think we maybe should have gone with procuring. You used the p word. Pimping. I feel i was just for claritys sake. You are stepping out now too. Right now lets get to a special guest from cnbcs consume. The real restaurant business. Vermilion is an indian latin restaurant. Joining us now is the owner and founder of vermilion restaurant. And thank you so much for being here today. Pleasure to be here becky. Lets tell people quickly. It started out first in chicago. It was the first restaurant about 11 years ago. That was a huge hit instantly. Here in new york you launched back in 2008 2009 right when things were in the middle of the financial crisis and it has not been the huge hit that it was in chicago. What happened . Let me start by saying that new york to me i think is the worlds largest, most competitive restaurant market and toughest to operate in in many dimensions. One is just the breadth of offerings. The depth and the breadth from all cuisine. Ive travelled to well over 30 countries and this city is Something Else. Despite being in chicago which is no stranger to amazing dining as well. And then there are the operators challenges. Its expensive beyond belief. Whether youre talking about garbage, water, or rents. And then theres the consumer. So sophisticated and demanding and jaded and seen it all. Its interesting. Its a perfect trifecta of horrors for an operator but at the same time its your personal kilimanjaro or everest. You want to be in new york. Exactly. So Celebrity Chefs flock to new york. Many people see their dreams die and many make it. Its an amazing platform for expansion. I think the show consumed does an amazing job of covering very different breadth of restaurateurs from a mom and pop to chain and expansion and takes us beyond the nittygritty of what you imagine might be a restaurant. Its not just sitting there and having drinks with Robert De Niro niro. I wish it was. Whats been your biggest struggle, you think . Just around the corner on lexington. Its the corner of park and 46th. Ive taken on a very challenging niche. Its indian and latin, the melding of the two. I think new york being such a progressive city is the sophisticated market i want to break into. The International Press has been amazing. The financial times, wall street journal, esquire, the works. New york times not so much. Local press has been really tough to crack into. If i was whats the word. If i was selfpitying. But its a challenge ive taken on. This relaunch is not just about winning other the press but winning over each and every new yorker. We started well. Four stars from the new york daily news. Fantastic. And from others. So optimistic. Well we cant wait to see more of the story on consumed and since youre around the corner, well make a visit. Absolutely. Heres my marketing hat. Thank you for joining us. My pleasure. Coming up this mornings top stories including a management shakeup at twitter. You probably know xerox as the company thats all about printing. But did you know we also support hospitals using Electronic Health records for more than 30 million patients . Or that our Software Helps over 20 million smartphone users remotely configure email every month . Or how about processing nearly 5 billion in electronic toll payments a year . In fact, todays xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. With xerox, youre ready for real business. Twitter Ceo Dick Costolo is out. What it will take to get the social network back on track. Hope springs eternal for a greek bailout deal. The imf walked away from negotiations and an eu leader told athens to stop gambling with its future. Tom friedman weighs in on the future for greeks. And a trade battle comes to a vote today. John engler tells us why he thinks its essential for the economy. The second hour of jurassic squawk begins right now. Every time weve unveiled a new attraction, attendance has spiked. These animals got to eat. You have an asset out of containment. Keep your eyes on target. Light it up. You are some action hero. Did you see your shot there . Did you see beckys shot there . I did see beckys shot. I wasnt going to mention that. Welcome back to squawk box here on cnbc first in business worldwide. Took a lot of work. Youd think it was a universal movie. We just like Jurassic Park. Im joe kernen along with becky quick and andrew i wanted to call you andrew raw sorkin at the beginning because of wrestling. Thats what my daughter thought your name was. Which is cooler. The latest installment of the Jurassic Park franchise hits theaters today. Been 22 years since Jurassic Park debuted on the big screen. We watched it the other night. Theyre running it again. I saw it last week. Theyve been running them back to back. Still great. 14 years since the third movie in the franchise came out. The first Jurassic Park brought in more than a billion dollars for universal studios. It was the highest grossing movie of all time until titanic passed it in 1997. Wow. Wow. I cant wait to go see this. I was kind of caught up in the trailer. I love raptors. Even if they werent really like that. I saw someone complaining its not scientifically accurate. Opposed to the rest of the movie . Exactly. They cant open the door. They open the door handle. And if you cant move that the rex cant see you. We have a lion opening a door in a video recently. If they can do it i think the raptors can figure it out. Thats right. Lets get to other top stories this hour. President obama lobbying for votes for todays trade bill in the house. He made an appearance at last nights congressional baseball game. Many of them oppose the bill. He then headed to the gop side if where he was cheered by chants of tpa by supporters. Well talk trade with governor john engler in about ten minutes. He is the president of the business round table. Then coming up at 8 15 eastern time, paul ryan will join us ahead of that key vote. In other u. S. News new internet regulations take place today. An Appeals Court rejected a request to suspend those new rules pending legal challenges. Internet providers will be banned from blocking and slowing down access to websites and applications and wont be able to strike deals for priority delivery of traffic. Also overseas greek officials continue to strike a hopeful tone for bailout talks. Earlier today, one state minister says greece hopes to clinch a deal on june 18. That comment comes after the imf walked away from negotiations in brussels yesterday saying there had been no recent progress in narrowing differences on key issues. Our special guest this morning will be columnist tom friedman. He will join us to talk greece isis, and a lot more. Thats coming up at 7 30. News just breaking in the last few minutes. Former imf chief Dominique Strausskahn has been acquitted. He was on charges of aggravated pimping. Specifically sex parties involving prostitution. The verdict was not a surprise. Five out of the six accusers dropped their claims against strausskahn and the prosecutor recommended acquittal. One of the long lists of reasons of why we love france. And we were talking about it. The bar is very high to get a conviction on Something Like this. Right . Am i right or am i right . Im not touching this literally or figuratively. Yeah. I know youre going to be a wimp about this. I am. Is there a french word for fidelity . Theres the Motorcycle Helmet the aggravated pimping. Whats going on over there . I think the bar is very high to get convicted in any of these cases. I like the aggravated pimping terminology. Its the aggravated with the pimping. Its like, well wheres the line that they draw . Thats what i mean. Obviously there must be laws written that says hey, this average pimping is fine but when when it gets aggravated thats what the prosecutors had to prove which they obviously failed to prove it was aggravated. Who would you be aggravating . Everybody joe. The hooker or the client . I dont know. That is technically the phrase. I know. I really cant believe it. I thought pimping was not a broadcast term. Its almost slang. I thought procurement might be more suitable especially for a New York Times columnist. But thats actually what its called. Theres a great article on a website called above the law that actually does a legal description of what aggravated pimping actually is. I do love i can hear the keys being typed in the google search. While people are googling that, were going to talk about the other big story of the morning. They might be twittering this because theres a big shakeup at twitter. Ceo dick costolo announcing hes going to step down on july 1st. Hes going to be replaced by jack dorsey on an interim basis. Jon fortt is here to give us more of a back story. Weve been debating what actually took place. I made calls last night that raise questions about the narrative thats being developed here. Yeah. Its a difficult narrative. Because twitter has been a really difficult company to run. And part of what it comes down to is growth for twitter. You think about the fact they got around 302 million active users as of last quarter. Facebook messenger just reported 700 million monthly active users. Twitter used to be in this apparent horse race with facebook. Doesnt seem to be the case anywhere. The sidekicks that facebook has in its arsenal are outrunning twitter at this point. If you look at the situation now, jack dorsey appears to maybe want this job. Some interviews he did last night when asked directly by Business Insider do you want this job, he said im not focused on that right now. Asked again, he said its not where my focus is whether i want this job permanently. And youll recall a year ago the chief operating officer over at twitter was forced out. Nine months ago, the chief of engineering Jeremy Gordon left. So theres been a lot of management turnover here. Theres been a lot of drama in the top ranks. It also doesnt sound like the committee thats looking for a new ceo which includes Evan Williams, which includes peter curry, which inside peter fenton also. Theyre in a big rush to find a new ceo. Apparently theyre going to take their time. Theres a lot of rumors about who they might want to bring in. Maybe they even do a hire over at flipboard. There was talk about perhaps twitter wanting that company. But theres also the possibility that twitter ends up being for sale. Ive talked to some people about this last night. Theres some head scratching over who might do this. Because right now the market cap of twitter right up around 25 billion. That would be a huge buy for anyone. Names like google gets tossed around. But its really tossed around outside of google. Talking to people who have been at twitter in the past. Doesnt sound like googles really made offers specifically for twitter even when the market cap was a lot lower. Might facebook do it . Then again, they paid a billion dollars for instagram which has outgrown it. 19 billion for whatsapp. I was thinking even amazon could be a fit. But, you know amazon 30 billion buy. I dont know. Suggested when they were doing this last search deal with google that there was a little bit of dancing around the merger issue and google is not that interested. Now that they have that search deal in place why buy the cow . Right. You have access to all the information without actually having to own the product. Yeah. So we will see. Stay right here. Were going to bring mark right into this conversation. Hes the lead tech analyst at rbc capital. Mark before we get into who should run the company and what should happen, are you buying the story and are you worried that if this story isnt true that Something Else is going on behind the scenes . Lets see. The story remains the same which is this has ubiquitous reach. Weve had more ive never seen as much sea level turnover in 1 months as an ipo youve got with twitter. Its very unusual. Somebody is going to come in who needs the product side of the business and the advertiser side of the business. Probably somebody from the public already a Public Company ceo. That makes it a pretty short list of people who could come in and turn this around. And it also is going to take quite some time. You know thats probably a year, year and a half turn around. Its a very hard job. We dont recommend the stock here. If jack dorsey were to remain the ceo, would that give you more hope or less . Well its actually a little disappointing from our perspective that hes not more publicly enthusiastic about taking on the ceo responsibility. You know, some of the greatest Wealth Creators in this Internet Technology space has been the founder ceo types. Jack dorsey coming in would probably really inspire a lot of the employees at twitter. So its a little odd that hes kind of equivocating here about coming in full bore to take on the job. So if he doesnt do it, it does raise the question they do need an external voice. He may not be e the right solution, but in terms of firing up the base he could be the right solution. Could you explain an outsider coming in with three ceos on the board now. Dick costolo says he wants to remain on the board and be active. Can you do the job with three former ceos looking over your shoulder . Yes, that would be a little awkward. Could be complicated. But start off. Youve got a large cap name. Youd be coming in on. Again, a brand thats youubiquitous ubiquitous. Its got a large user base. People talk about twitter being niche. Come on. Its 300 Million People still growing reasonably year over year and a lot of upside potential. Theres basic changes theyre even now makes. Were finally moving beyond 140 characters. It took us five years to do that. Theres a lot of low hanging fruit, we think, in terms of approving the products. Somebody could come in and say this isnt a huge opportunity. Is there a premium on this stock already and do you think theres a natural fit for somebody out there . I ask because im under the view there isnt one and that if there really was one, if you were dick costolo, you would have tried to sell this company before you said youd buy it. Yeah andrew id probably agree with you on that. Lets see here. I dont think theres a takeout of premium in the stock now given where its trading. It has a high multiple but thats because of the intrinsic of the platform. The obvious buyer is probably google, but i dont think that could get done for regulatory reasons. That would go through a yearlong review. I dont know if thered be a willing buyer or seller frankly. That could really stymy growth at the business. So theres some interesting bidders. I dont think theres an obvious one. The chances of a take out here is slim. Thank you for joining us and jon thank you for coming in. A programming note. The man whos been on fire all week david faber is going to be joined by outgoing twitter Ceo Dick Costolo and cofounder jack dorsey. When we come back this morning, congress set to vote today on whether to give president Obama Fast Track Authority on trade deals. Business round table president john engler says the bill is good for business. He will join us next. Then columnist tom friedman joins us here on set. Hes here for an hour to talk all things that are national. Isis, greece russia a lot more. Plus swing coach David Ledbetter is here to help us work on our golf game. Squawk box will be right back. The house is set to vote on two critical pieces of the president s trade agenda. Here with us is john engler former governor of michigan. Its good to see you governor. And weve watched the sides sort of get defined in this issue. And theres a lot of total misunderstanding out there that i think feeds into the confusion about what were actually trying to do here. I would think that the president supporters would at least place their trust in his discretion on this. If the republicans are going to give him a win here are willing to do it i dont understand how the far left can just all of a sudden say we dont think the president s going to do the right thing for americas workers. Its very strange. Its a frustrating process. One of the things were dealing with in the house is only about 114 members have ever actually voted on Fast Track Authority trade promotion authority. So its a brand new vote. Theres been a lot of confusion about what is this vote. This is not the treaty. The treaty will be negotiated later. This is the process that allows our negotiator to negotiate the best deal for america. It seems to me everyone ought to be for that and weve done this as Caroline Kennedy pointed out in her letter today. Weve given this to every president of both parties. I think were very close. I think the votes are going to be there today. I would say that this has probably been the best display in six years of real bipartisan cooperation with the leadership on the republican side working with the white house to get an important priority for the country passed. Its somewhat surprising because the way the union backers say its and other progressives say its sort of another win for big money, corporate interest. And its going to be negative for workers. I dont ever remember accusing president obama of siding with corporations really. I think thats a stretch. I think thats a stretch at this point. Thats why i dont you know, the whole Elizabeth Warren narrative is very strange. And as you say, all this allows the president to do is negotiate it instead of 540 members of congress negotiating, then once its all negotiated everybody sees exactly what it is. And then it gets an up or down vote by congress right . Thats exactly right. And if youre going to negotiate with a dozen other countries, you better be in a position to say, look if you make a hard commitment at the end, you give up something and we give up something that everybody when they sign their name to the bottom of the page that gets an up or down vote in these respective countries. You would never get the best deal if you knew coming back to congress it was subject to being amended multiple times. What we have i think, though is a lot of clarity. Weve done a lot of education and theres been a concerted effort on the part of a lot of groups who do believe that the 40 million american jobs that are related and dependent on trade are important who recognize the wages often average as much as 18 above other wages. So theres some good data. Weve actually done an analysis. Congressional district by District Across america. Theres a lot of objectives and this process lets congress say to they ought to be priorities. Youre going to Center Stronger labor and environmental protection. It is a multiple win for the American Economy. And it can be very good. We had defense secretary ash carter recently saying id rather have the trade deal. Its so important in asia that it has a significant contribution to national security. John we know this has become incredibly politicized at this point. In fact, ive even been reading that some of the democrats in the house who are in favor of this are afraid to vote for it. I wonder what happens in that sort of an environment even democrats who know this would be good for their district feel they cant come out and vote for it. Were attracted to this slow growth or low growth cycle. Everybody is looking at the zero sum rather than recognizing that growth can lift everything. And thats what we need is the gdp rate back above 3 . Not stuck in this 2. 4 2. 5 range weve been for nine years or so now. And i think this is a part of it we obviously think tax reform and other things matter a great deal. But to the specific politics 95 of the people we sell to dont live in the United States. So we better be engaged in trade. We look around the world, everyone else is. The u. S. Can compete. Energy prices allow us to do that. A lot of other things. Lets get it done today. You got democrats asking their people to vote against worker aid or whatever that is. Thats amazing. Thats really a because that would stop the tpa which would then stop the tpp. But its i dont know. Joe, take that as a good sign because that means i think weve got a coalition thats coming together with the votes to pass the trade promotion authority. Thats their last gap to stop it. All right, governor. Thank you. Thank you. Coming up season three of netflixs orange is the new black dropping early. Well tell you how it happened next when squawk returns. Ah aflac . Aflac i thought you said this guy was the best . Oh, hes a horrible stylist. Gah . But hes the best at paying claims fast really. Mmhmm. Paid mine in just one day. One day . Yea. Aaaflaaaac in just one day, we approve and pay. One day pay, only from aflac. Time upon a once people approached problems the way same. Always start at the starting. And questions the same asking. But that only resulted in improvements small. So we step a took back and problems turned these insideupdown to approach them newly. And thats when we it saw. Garbage can create energy. Light can talk. Countries can run on jet engine technology. When you look at problems in ways different you new solutions find. The results of our Quarterly Survey of the cnbc global cfo council are in and theres a clear prediction of whos going to win the gop nomination. Collectively represents more than 2 trillion in market capitalization. Given 15 possible choices, more than 72 of respondents say former governor of florida jeb bush will take the republican president ial nomination followed by scott walker at just 11 . Ten hopefuls received 0 and then on the economic front, theres been a major shift in sentiment when it comes to a hike by the fed. Many say it is likely to happen in september. For a full survey results, go to cfocouncil. Cnbc. Com. And as we mentioned earlier in the hour netflix Just Launched season three of orange is the new black. They did it six hours before they were scheduled. Last night at a Fan Convention the actress who plays the character crazy eyes had this question for netflix ceo reed hastings. Would it be possible for us to put all of season three of orange on netflix right now so they can go home and watch it when they get home . Lets do it. That looked so spontaneous. The stunt of the moment. The show has already been renewed, we should tell you, for season four which will begin shooting on monday. So it continues on. Odd mom out a bravo, right . Yeah. And you can watch orange is the new black any time. You can binge watch it. If they were on at the same time, theres be a quandary. But you can watch it. I do want to see it. My daughter watches it. Is it okay . Im actually thinking im going to get netflix again. You dont have netflix . I had it for awhile and got rid of it. But i think i want it. Blackberry and no netflix. Yes. Because i work and im a mom. Im a little busy. Coming up you guys have wives. Coming up tom friedman is here. His take on the fight against isis, the crisis in greece and todays key vote on trade. Ill be wlesinterested to see what he says about this. Well have that coming up. Every Auto Insurance policy has a number. But not every Insurance Company understands the life behind it. Those who have served our nation have earned the very best service in return. Usaa. We know what it means to serve. Get an Auto Insurance quote and see why 92 of our members plan to stay for life. Welcome back to squawk box. The futures right now as theyve been for most of the morning, now theyre actually down. Whoa. Okay. Before wed been flat relatively speaking. This has been a pretty good turnaround week for the markets. Were on pace for our best week for both the dow and s p in quite a while. But well see what happens if we get background this morning. I havent looked at the Interest Rate environment. My guess is greece is probably weighing on some of this. Greece as well. Lets look at the european stock markets. Before they were down but just slightly. 1 to. 2 . I will look and see whats the 10year . Do we have that anywhere we can check that . Or greece is down in the mid7s or something. What is that . Its not that. I dont know where greece is. Greece probably is and its a friday too. Okay. Greece was down fractionally this morning. Its down 4 now. I would guess greece is the reason for this again because the dax was only down by. 1 or. 2 when we looked earlier. Now all of the european markets look substantially weaker. We have been hearing a lot of back and forth about greece. They have a hopeful tone for bailout talks. But that is a disconnect from the comments weve heard from imf and eu officials. They say there are still big disagreements on key issues. Joining us for the next hour with his take on this and much more is Foreign Affairs columnist tom friedman. Great to see you this morning. Great to be here. Greece weve been going back and forth and back and forth and back and forth. Most Market Players believe this is a big game of chicken and something will be reached. We talked to mark grant yesterday and he says he doesnt know how it plays out. That seems to be more of the way you look at this. He says they default. You know i was in germany about a month ago talking to german officials. One thing that really struck me when the subject of greece came up their attitude was they may figure out a fiscal deal here. They said the real problem with greece is there are no institutions. I mean the government has really been rotted out from the center. Its been corrupted. And thats actually what horrifies them most over the long run. They cant really implement any reforms. What do you mean no institutions . These governments have really been literally rotted out a lot more than we realize. Greece looks to me a lot more like a facing the troubles we see in arab countries today where you call someone and they pick up the phone and it comes off the wall. And thats what theyre worried about. The pulleys and gears, they arent connected anymore. And the level of microreforms the countries have to do to get this right over the longterm, to actually start to grow given some of the crazy things they had, the kind of licenses that were required to be a lawyer. To be a truck driver. I mean the level of actual reform, internal stuff, micro. Forget the big fiscal issues. I think we really underestimate. Thats their bigger concern. Even looking a couple of years ago, we started finding out about how nobody raised their taxes. But when you get to this point where there are so many crazy taxes, rules, regulations that theres an underground economy nobody is paying attention to. They can strike some macro deal. Yes well pay you this back over x amount of time. But how do you generate the growth you need . And i think thats a bigger problem. Thats why im really pessimistic. How can there be no government with 40 of employment is government employment. Is it just worker bees . No one in charge . No institutions themselves . I dont i mean i think greece joe, i think had much more in common with Eastern European economies than with western european economies over the last 40 years. We pretend to pay you and you pretend to work. Yeah. And never really develop. What is striking i find in general Going Forward is i think when the world gets this fast and complicated, institutions really matter. And being in germany for a week i was struck forget work ethic, all the just the quality of the institutions. The people you meet. The way they approach you know politics and governing. The asymmetry between that and a country like greece is just e mor enormous. You still cant start a company there. Theres too many regulations. Thats my point, joe. The chicken and the egg. You think the government comes first and then the private sector . No no. Its the right kind of government. Its smart government. Its government that will incentivize the kind of sector you want. But you have to have a strategy and institution for that. I mean you can govern in an Eastern European way. You can govern in a smart, efficient way as germany has evolved. And i think they really dont have the institutions there to do that. We have them here. They may be not as vibrant as you would like, but compared to the rest of the world, allows our private sector to flourish. Quickly, supposedly merkel said she supports all this. She normally doesnt say things about foreign currency. So her saying that knocked down the euro significantly. If the euro goes down the dollar goes up. Maybe thats why we whenever the dollar is strong. Anyway, thats the answer. One of the things when i was in germany i gave a couple of talks. One point i made is, i know this is going to freak you all out here, but i think germany is going to have the biggest army in europe in coming years. Would really be taken aback by that. You know, when you look at whats going on with this refugee problem, all these refugees spilling out of the world of disorder toward europe institutions really matter. And germanys the quality of its institutions as compared to almost all the other neighbors, i think are really going to matter in the long run. Theyre going to have to step up. Look whats going on with the uk. My god. As the scots drop out. From an american viewpoint, were losing our wingman. We used we leveraged europe in general. Britain and germany in particular. To amplify American Power in the 60 years after take that a little bit off of us with nato and we probably want someone to counteract putin. And we wouldnt immediately think of world war iii because of but you really think theyre going to have the biggest army . I do. Theres such a vacuum. Have they begun investing . I think they have upticked a little their military spending. But not so what does europe look like ten years from now . I think its germany and france quite a bit behind and everybody else. And are they connected still . I dont know. I really dont know. Youre leaving the uk out of that entire im really worried about the uk. You have the splitering. You see they built a new aircraft carrier. This has an enormous impact on us. They are the huge amplifier. They are the closest. Two United States are better than one. And in a world where then theres one and a half United States, that has a huge impact. For a New York Times columnist to say. Really two United States are better than one . Thats really really you know, they may be watching. Dont think you can say whatever you want. Isnt it only like two blocks down there . Ive not always said that. Youre not in disguise. You always have that mustache right . The reason we have seven columnists is we have seven different opinions. All of them sort of oh. This happens every morning. I got used to it. Who is that faux conservative . Brooks . David brooks. Yeah. If you look at germany, though, their interests dont always align with ours as closely as ours and the uk tend to. Merkel has been the closest adviser to putin and closest to the relationship zblps she has stood up to putin. Without her doing that there would be no sanctions, number one. But if you look at the question of the European American free trade agreement, theres enormous resistance to it led by germans. And a lot of this just has to do with sort of a hostility to the United States. And thats very worrying. What happens to germany if greece actually falls out of this . Because germanys been a huge beneficiary of the weaker euro because of countries like greece being involved. I think thats one of the thats the question theyre debating themselves. And none of us know. And one argument is what would happen if we took down Lehman Brothers and we discovered what happened. That there are all these connections that no one understood. And we paid a huge price for that. And i think thats what is worrying people. Do you have a lehman effect or not one week story or one day story but a one month story. And greece exits and the eurozone marches forward. We could talk trade a little bit more indepth with the United States in a bit. But in the meantime, we have been talking a bit about protectionism this morning and how it definitely seems on the rise in the world. You know you have youve got two things working now it seems to me. One is the post2008 weakness of the economy. Thats always going to lead to protectionism. Then you have this huge surge of technology that is eating away at jobs. And really raising i think a fundamental question which is will the American Global middle skilled still be able to be in the middle class . Because without an american middle class, there is no america engaged in the world. That america which really grew out of world war ii in particular was one based on a growing economy of economic security. And if the middle skilled cannot be in the middle class, i think this is just the beginning of the kind of pulling youll see. Were going to have much more with tom. He is our guest for the next 45 minutes or so. Also well be talking about an unconventional candidate for the top job at twitter. Then world famous golf instructor David Ledbetter is here. He will give us pointers on our golf game. Stick around 37. When a moment spontaneously turns romantic why pause to take a pill . And why stop what youre doing to find a bathroom . With cialis for daily use, you dont have to plan around either. Its the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. Why pause the moment . Ask your doctor about cialis for daily use. For a free 30tablet trial go to cialis. Com welcome back. As weve been discussing this morning, ceo of Twitter Dick Costolo is stepping down as of july 1st and jack dorsey will serve as interim ceo as the Company Looks for a new chief. Rapper snoop dogg throwing his hat in the ring tweeting last night im ready to lead twitter with snoop for ceo. He said the first order of business get that moola. Box ceo aaron levy responded saying at minimum snoop should be the chair of the committee. Yeah. Coming up leading golf instructor David Ledbetter won fame when he rebuilt the swing of nick bouda. He also worked with Greg Norman Ernie els, michelle wie, and me, actually. I got to spend a lot of time with him out at the nbc broadcasting the lpga in westchester. Were going to talk about all these things when we return. music boys . music stop less. Go more. The passat tdi clean diesel with up to 814 hwy miles per tank. Hurry in and you can get 0 apr plus a 1000 volkswagen credit bonus on 2015 passat tdi clean diesel models. Since launching the first Ledbetter Golf Academy over three decades ago, David Ledbetter has coached players to 19 major championship titles and over a hundred individual worldwide tournament victories. Hes compiled some of his greatest lessons in his new book the a swing the alternative approach to great golf. David is here to help us with our swings and give us a few tips. Hes in town for the womens kmpg lpga championship. Thats a lot of letters. Its out at westchester which all the ladies are excited about playing the west course out there. Its one of the great courses. I got to play i was wondering what that would be worth. Having you follow me for nine holes and telling me about everything swing along with michelle wie and matt lauer. But youre Michelle Wies coach. She won the open last year so thats pretty good. Yes. Shes a good player. She hits the absolute heck out of the ball does she not . Yeah. The club speed, is that 130 you think she gets . No. I would say shes about 105. Is that all . It looks like 130. I must be at 70. Youre more than that now, joe. You know what . And tom friedman is a great golfer. You love to play. Absolutely. You gave me some great tips. For those of you that will know what im talking about, if you know how kenny perry or jay haas picks the club up like this and gets his wrists in this position right here and then then way you explained it to me was your hands move far less than with the big shoulder turn and it allows the club head up here to stay open right . The big thing is yes, this alternative swing the a swing which is in the book. I tried it. It worked. See. Ive got a personalized copy for you too. We need to make golf simpler. Minimal practice maximum benefit. Im working on this with derek jeter right now. Hes getting into golf bigtime now. Its a simple back swing. For people who dont have a lot of time we have time together. You dont want to hit something. That jeter character, any athletic ability there . Youve seen mine. Is it similar, would you say . Pretty close. You dont really have to answer. So i have a lot of questions, but this just relates to me. So we probably shouldnt do that right now. Should everyone eventually look like kenny perry . Will it translate to everyone . Its a different approach thats for sure. I call it an approach not a method because you dont have to be perfect. For most golfers and if you look at even jack nichols at his peak had it up and down. Get the down swing right. But this a swing makes the back swing so much easier. If you dont have to lot of time to practice, it works. Weve played together. Does this make sense to you . Im always guarding against the snap hook. You say because with my big shoulder turn the club head is closed up here. Exactly. Let me describe it to you. Ill use you as a model. Basically its getting your hands really in and the club out. Like baseball, when the bat is up in the air. Its the same thing in golf. I was blocking everything because im afraid of that snap hook. When i let it go it worked. Best tee shot in years. Shot with a 4 iron pretty well too. Whats the biggest mistake people make in doing this . Whats the first whats the single most important lesson to keep in mind . Hands in . As you take it back here what weve really got to feel here, tom, is that the hands are in and the club is out. Majority of golfers wrap it around their body. They have so much movement. So this really makes the back swing so much more efficient. Takes all the weighted motion out of it and makes the whole thing simpler. Puts all the emphasis on the down swing which is what you should be doing. Why doesnt everybody do it . I dont golf but that sounds perfect. Its a slightly different approach for sure. Its going to cause a few waves in the teaching industry but its great. Hey, im just trying to help golfers play better and enjoy the game more. Was this a big switch for you at some point . Ive always believed in this. Its not something ive never done before. We really exaggerate it. Even if you look at the players ive worked with nick faldo, theyve all had this about them. But reemphasized it. People say just look at our website and you have a look, all these testimonials. People say this feels natural and good. For the masses out there that want to improve immediately, weve seen amazing results. Is ladies golf or at least young girl players, that could save the game. Its exploding with little girls between 7 and 18. This is a huge deal this week. Absolutely. Its on nbc. You like michelles chances . Well shes coming back on a few injuries. So do you like lydia ko . Theres so many great players. Youve got this young girl brooke henderson. Theyre amazing. My friend asked me do they just hit it straight or and i said she hit it 80 yards past me. Michelle wie. 80 yards past me. Anyway. With this new aswing, youre going to get it. Im going to get it. Im just glad. I dont know what you charge but im glad i get it for free. Youll hear from me. Thanks david. Appreciate it. I need this. You can take that out. Your kids might. The kids would love it. Coming up weve got much more from our guest host tom friedman. Plus congressman paul ryan is going to join us. Hes going to talk about the trade vote today. Stick around. The promise of the cloud is that every organization has unlimited access to information, no matter where they are. The microsoft cloud gives our team the power to instantly deliver critical information to people, whenever they need it. Here at accuweather we get up to 10 billion Data Requests every day. The cloud allows us to scale up so we can handle that volume. We can help keep people safe and to us that feels really good. Twitter unfollowing dick costolo. The ceo will be leaving amid growing criticism from shareholders. Well take a closer look at the social Networking Service and find out if jack dorsey can turn things around. Shaking up the spirits business. Sean lamprey is here. And Jurassic World looking to take a bite out of the box office. A look at the popular franchise and what you can expect in theaters this weekend. The final hour of squawk box begins right now. Live from the most powerful city in the world, new york, this is squawk box. Welcome back to squawk box, everyone. This is cnbc first in business worldwide. Im becky quick along with joe kernen and andrew ross sorkin. We are less than 90 minutes away from the opening bell on wall street. Weve been watching the futures this morning and they have bounced around quite a bit. When we came in this morning, it looked like things were you could see right now the dow futures are down by about 38 points. S p futures off by 5 and the nasdaq down by 13. European markets also giving back some ground. Much weaker than we first started this morning. The dax down by about 1 . The cac off by 1. 1 . The ftse down by. 6 . And greece down over 4 . You made comments about what merkel had been saying earlier. In the past shed been opposed of qe. Now shes coming out in favor of what the central bank has been doing. I dont know how you read that with how the european markets go down. I hope its not because shes starting to be less optimistic about a chance for resolution. That would seem to be part of it. But when you start saying yeah because they know more than we know i think about whether greece really is is it a hard line right now that theyre just will there come a point where germany says no mas and where greece agrees were not going any further and it happens . Then youd want qe in europe. Youd want as much as you could, right . Greece reminds you, joe, why the biblical ancients had a year where they said well wipe all this out. Theres no way to work out of this hole. Unless you leave the euro and get the drachma back and devalue it. But at the end of the day, i dont want to beat this horse too much it is about the governing institutions. Whether youve got drachma, euros, whatever. And can you construct a partnership that could govern the u. S. . The start would be the imf. Yes. Start there. Lets also tell you about todays top corporate story. Dick costolo stepping down as of july 1st. Julia boorstin joins us from los angeles. She has a look at where twitter goes from here. Julia, good morning again. Good morning to you, again, becky. With costolo stepping down as twit twitters ceo, jack dorsey is stepping back. One of the creators. Hes thought to have what it takes to help ramp user growth that has been stalling. Now just over 300 million. Dick costolo talked about focusing on making twitter easier to use and more engaging and delivering new apps and services. Dorsey saying in a Conference Call yesterday he believes in twitters strategy specifically around twitters products. I do not foresee any changes in strategy or direction. I believe on the course in the course the company is on. And the Management Teams ability to fulfill and execute on it. The question is what changes a new permanent ceo might bring. Another former twitter ceo board member Evan Williams is on. Theres no obvious successor, but the name drawing most attention is adam bain. Hes well liked by twitters ad and Media Partners but he doesnt have key product experience. As twitter looks at possible candidates across Silicon Valley, m a chatter is back in focus. Pointed to google as the most natural fit. Its been a rumored suitor for twitter on and off for careers. Well have to see if its interested in twitters about 24 billion market cap. Back to you. Thank you very much. By the way, dont miss david fabers interview with dick costolo and twitter founder jack dorsey. Were back with more from our guest host this morning. New york times columnist and Pulitzer Prize winner tom friedman. One topic we have not hit on yet is isis. You have made the point you cant defeat isis and be a supporter or have an iraq at the same time. Thats what i worry about. I worry about the choices. You can have iraq or defeat isis and you cant do both. Why is that . Because isis at root is a sunni arab backlash against the government in baghdad. But these guys didnt invent barbarianism. Shiite militias in iraq and power drills. A look at the matches that come up on google for that. This phenomenon grew out of a deep resentment of sunni arabs there. I think the only way out because we cant defeat isis. Only the sunni iraqis of those regions can defeat isis. Why would they want to do that if they see isis as a protector . And theyll only do that if think the sunnis of iraq can get the same deals that the kurds have. That it will have its own oil revenue, own militia to protect itself. I think thats the only way and how do you create that environment . Thats the tension. You want to support the central government. Central government was led by ma law key who drove them over the edge. You have to have a new something they agree to. The other problem is ask yourself this. Look at the map of iraq. Look whos surrounding iraq. Turkey in the north, giant army. You have saudi arabia on the south. What is saudi arabia using its power for today . To bomb yemen. Why arent they fighting isis . What is turkey doing . Staying out of the fight. If it isnt important enough for them why should it be important enough for us . Its telling you something. The other thing that drives me nuts is why is it our guys always lack training but their guys who havent been trained by anybody keep winning . So surely cannot be about training. Its about the will to fight and people are and why is there no will to fight then . Ill put it this way. To recover mosul, someones got to go doortodoor. Thats the only way you do it. Are the kurds going to go doortodoor in baghdad . I dont think so. Are the shiites going to go doortodoor to hand it over in sunnis . I dont think so. Thats the problem. There is no iraq anymore. Is that an argument for us of just washing our hands and walk away from it . I dont think you have to wash your hands and walk away but my outlook is contain it. We want to contain this phenomena. Contain the walls, kurdistan, jordan turkey. The countries of decency there. And amplify anything theyre ready to do. But they have got to take the lead. Ultimately, look. Isis is a combination of two things. Its exsunni army officers. This is the revenge of saddam hussein. Theyre the ones directing this. Thats why its been militarily so effective. And second youve got all these sort of this sort of muslim foreign legion thats coming from all over the muslim world. These are mostly young men who have never held a job, held power, or held a girls hand. And isis has a real proposition for them. Come here well give you power, well give you a gun, well give you a job, well give you employment, and well give you a wife. And its a powerful message. When you talk about some of the neighbors that weve partnered with that were friendly with like a jordan. What are their plans . I have a hard time seeing how jordan really stages anything to go against this. At the end of the day, they are more frightened of iranian shiite power and expansion because iran now indirectly controls four air capitals. Thats what theyre obsessed with. And at the same time, you know this is a problem that gets into the iran nuclear deal. Were worried were going to do this deal theyre going to get all this money. Iran cannot help but expand toward the arab world. Its such soft tissue there, becky. Theres so little quality governance and thin is this result of 60 years of mismanagement. 60 years ago asian leaders came to their people and said heres my deal. Im making this up but this is directionally right. Were going to take away your freedom but give the best infrastructure, education, and export led economics. 60 years youll build a middle class big enough to take it back. Arab said heres the deal. Were going to take away freedom and give you the arabisraeli conflict. Were going to give you a shiny object over here to distract you. And arab leaders were autocrats but they were predators. And from that period where and now south korea alone dwarves the arab world, from that division has grown a huge gap. So were dealing here with a Human Development disaster area. And thats why i think we have to be very careful about putting our power into that place. Im ready to amplify whatever they do. But thinking its just about training. Who trained the taliban . Who trained al qaeda . Who trained isis . You know . Its about the will. And theyre fighting about something they believe deeply. Whats tragic is what they believe deeply in is crazy. Theyre fighting over who is the proper heir to the Prophet Muhammad from the seventh century. I noted in a column that the arabs are trying to get them to take over yemen. If egypt invaded yemen it would be the first case where half the women cant read. Takes over a country where the water comes out your tap once every 30 days in a fight over whos the proper heir to the Prophet Muhammad from the seventh century. That cannot end well. And until somebodys actually fighting for something we believe in and share, theres no way we should be in the middle of this fight. I was going to bring it back to the u. S. For one sec to say were in this president ial election thing thats starting. Is there anybody that you see who sees the world the way you do now in terms of understanding the issue and appreciating the issues youre talking about right now . You know i dont really feel anyone there is resonating with issues that i think are important. Frankly, abroad or at home. I think the Biggest Issue for the world today is the health vigor, and vitality of the American Economy nap if we go weak as a country, your kids wont just grow up in a different america. Theyll grow up in a fundamentally different world. A world ordered by russia or china or more likely nobody at all. So i think whats at stake right now, you know inning us back to the fundamentals that built this country. Infrastructure education, education, and the right rules to incentivize risk taking but prevent i think i heard rand paul on Foreign Policy argument you were making, didnt i . I dont go afar as he does joe. But youve got to be very very careful about how we use our power now. Its so important. We hold up you know we make all kinds of mistakes. Lord knows we have. But at the end of the day, we are the tent pole that holds up the world. Some think if we dont defeat isis over there that well have the lone wolf here. But you might be better served to try to stop the lone wolf here than to cut it off at the source. Youre going to have lone wolves. Im not going to tell you this is the end. This is the world we live in. But theres a question of do we have a lone wolf in a growing, vibrant strong country. Right. Tom, stick around. Thank you for that. We appreciate it. When we return this morning, the clock is ticking for congress to vote on the fast track trade bill. Congressman paul ryan will join ugh o us in a few minutes. Heres a look another whats to come this hour including summer cocktails with sean lamprey. Squawk box will be right back. singing you wouldnt haul a load without checking your clearance. So why would you invest without checking brokercheck . Check your broker with brokercheck. Being a keen observer of the world has gotten you far but what if you could see more of what you wanted to know . With fidelitys new active trader pro investing platform, the information thats important to you is all in one place, so finding more insight is easier. Its your idea powered by active trader pro. Another way fidelity gives you a more powerful investing experience. Call our specialists today to get up and running. Can it make a dentist appointment when my teeth are ready . Can it tell the doctor how long you have to wear this thing . Can it tell the Flight Attendant to please not wake me this time . The answer is yes, it can. So, the question your customers are really asking is can your business deliver . charge music you wouldnt hire an organist without hearing them first. Charge so why would you invest without checking brokercheck . Check your broker with brokercheck. Coming up congressman paul ryan on trading jobs. Hes our guest right after the break. Here are the futures ahead of the ppi data which will hit at 8 30 eastern time. Squawk box returns in just a moment with the dow likely to open off about 30 points down. Financial noise financial noise financial noise big day . Ah, the usual. Moved some new cars. Hauled a bunch of steel. Kept the supermarket shelves stocked. Made sure everyone got their latest gadgets. Whats up for the next shift . Ah, nothing much. Just keeping the lights on. laugh nice. Doing the big things that move an economy. See you tomorrow, mac. See you tomorrow, sam. Just another day at norfolk southern. Sorry, tom. We were really getting somewhere with our golf swing there. But weve got congressman ryan here. After two days of debate in the house, the showdown on trade, paul ryan is here chairman of the ways and means committee. Joins us now from capitol hill. Many times i have asked you, mr. Chairman, why on earth youd even get into this business. And thats what people say. We dont get good people in this business because youve got to be crazy to do it. You are always optimistic and always have a great answer. But the latest thing is that because you said, well, once we do tpa and then get the tpp, the president does it then well see whats in it and well vote on it one way or another and that was immediately conflated by your political enemies to being pelosis comment on obamacare. Thats when i just leave. I would just say im going back to work at i dont know somewhere in wisconsin. This happens a lot in politics and this times no different. Look what were talking about here theres a lot of conflation like you say. Tpa which is what were voting on today which we do have the votes for tpa, that is a process under which we consider trade agreements. And this process brings more transparency and more accountability to how we consider trade agreements. And it gives congress more control over the outcome of theess trade agreements. When we reach a when a trade agreement is reached between nations, we make it public. Theres no requirement for that without tpa. Then its public for 60 days so everybody can see whats in it. And then Congress Begins to consider it. Thats another 30 days. So were not voting on a trade agreement today. Were voting on a process under which we consider trade agreements to give congress more control and the country more transparency. And so yes, youre right. There are those who seek to try to stop this from happening. Were trying to misinform and take advantage of that. Its unfortunate. Unfortunately thats the give and take in politics. But we have the votes for trade promotional authority. The question today is whether or not the democrats are going to deliver their votes for something called trade adjustment assistance which is a necessary component and has been for many years. Thats really the question before us today. But we do have the votes for tpa. You know why . Because we need the trade. We need trade agreements. We need to write the rules of the global economy. We need to open markets for americas producers so that we can have more jobs. And if we just walk away from the field, we are seeding the field to the rest of the world, to china, to europe to whoever else would be able to write the rules of the global economy. Get those markets and we wont. There are 3. 2 billion people in the middle class in asia in the next years, we should be able to sell to them on a level Playing Field. The taa, and you know you guys will never learn. Thanks for naming everything taa, tpa, and tpp. Public has no idea what youre talking about. In the past democrats have insisted on that to help retrain workers. So thats a democratic initiative. Correct. Youre actually going to see Democrats Use that to try to block the tpa. Thats right. And you wonder why people shake their heads. But the question i have for you is you got taa. You dont have taa to get the tpa, do you . You may not get that. We have the votes for tpa. You have it for taa . So we were going to produce the three times the amount of votes we normally have on taa, but youre right, joe, it requires democrats to support you got it . You have to ask nancy pelosi that question. Its a question of whether or not democrats are going to support their president , the leader of their party or not. Thats going to be answered today. I dont know the answer to that. I cant believe that you dont have more pushback from your side of the aisle on giving the President Authority to do something. Giving him taking congress out of the negotiation. You actually have a bunch of republicans and conservatives saying i want to hand this authority to president obama to negotiate for us and youve got members of his own party trying to prevent that from happening. Its impossible to understand. Let me get to there, joe. Were note giving the president any new authority. Were not giving him any authority. Actually, were taking authority away from him saying if youre doing b a trade agreement, heres how you have to do it. This is congress way of doing it. Right now its whatever the administration wants to let us see with these negotiations. We demand to be able to see it at any time. We also can participate in travel to the negotiations if we want to under tpa and the country sees a trade agreement as soon as a trade agreement is reached it is made public. We dont fast track it to congress before anybody can know whats in it. It will be 90 days from when an agreement is reached before Congress Even considers it. Thats with tpa. If you dont have trade promotional authority, look at iran. Its a good example of he can do whatever he wants, negotiate whatever he wants. We have no idea what hes negotiating and hes not coming to congress before he agrees to it for a vote. Were saying congressman. Yeah . Tom friedman from the New York Times. When youre home in wisconsin, what do you tell Labor Union Workers in wisconsin why this would be good for them in the long run. Because one in five jobs are tied to trade. Those jobs are typically pay more. I was at the case new holland factory a few weeks ago. 33 of the tractors rolling off that line have to be exported for those lines to keep running. So we need to make things here and sell them overseas. By the way, getting trade agreements removes those barriers so we can make things here in wisconsin and send them overseas. You have to open up markets so we can make and grow more things in america to send them overseas. 95 of the worlds consumers live in other countries. And we need to get these. The rules of the 21st century, theyre being written right now. Theres no question about that tom. You write about this all the time. The question is whos going to write the rules . Are we going to write the rules with our allies so we can protect our intellectual property so we can have fairness and a level Playing Field . Or are other country going to write the rules . Thats the question being answered right now. We know that trade leads to that and we want to be able to make things in america and send those things overseas. Without trade graems big multinational corporations plop into another country to sell in that country to get around the trade barriers. Lets remove the trade barriers to keep the factories here in america. All right, congressman. When is this vote happening today . Couple of hours. Its throughout the day. We have a number of votes throughout the day. So this is happening today between now and, say, 3 00. All right, congressman. Thank you. You bet. Tom, we are just about out of time. We want to thank you for being here for the last hour. If theres one thought you want to leave us with what would that be . Russia. I pick up the paper now, i see american jets and russian jets you know flying inches apart in the last few days. I think putin has given up on trying to make russia is strong country built on russian talent. I think hes looking for dignity in all the wrong places and that really worries me. More so than Everything Else we talked about all morning . Yeah. The country putin threatens most today is russia. Grandma said never destabilize a country that spans nine time zones. You going to read this book . He was on earlier. He said the oligarchs took this no level guy and made him into vladimir putin. Thought they could control him and they were wrong. They cant. But i dont believe the polls in russia saying we love crimea. I dont buy that. Watch out. Thank you so much for joining us today. Thank you. Stick around, folks. When we come back we have numbers straight ahead. The ppi. You are looking at two airplane fuel gauges. Can you spot the difference . No . You cant see that . Alright, lets take a look. The one on the right just used 1 less fuel than the one on the left. Now, to an airline a 1 difference could save enough fuel to power hundreds of flights around the world. Hey, look at that. Pyramids. So you see, two things that are exactly the same have never been more different. Ge software. Get connected. Get insights. Get optimized. Welcome back to squawk box. Inflation breaking news. May ppi up. 5 . A bit higher than expected. No revisions to last month that i can see. Lets strip out the allimportant food and energy. Up. 1 as expected. We can go through a litany of other data breaking this down. Final demand here year over year. Energy up. 6 . Thats an important one. Food and energy trade year over year also up. 6 . Theyve retweaked these numbers obviously to get much more accurate. I see many more numbers, less accuracy. Im looking at. 3 still. This number really is having very, very little effect on the market. Preopening dow still down 66 points. And of course the dollar index having some volatility overnight. Continue to watch Interest Rates in europe. They did have a bit of a bounce higher in rates based on whats going on with greece. A lot like the ppi thing here things dont get traction one way or the other. Joe, back to you. All right, rick. Thank you. Appreciate it. Now were going to talk about changes in the leadership at twitter. Eric says if it wasnt for the facebook and twitter, users would be considered a success. The question now is can a new ceo fix whats broken at the giant. He was a former ceo of both Huffington Post and davis. You know something about running a big dotcom thats unfair. I shouldnt call it a dotcom media company. Social media. First of all, you hear this announcement and you say to yourself does that narrative even make sense to you that somehow he jumped before he got pushed . Do you even believe that . Well there have been rumors now for a number of months that he was going to go. And the q1 results were pretty terrible according to the street. So he probably gave up. But theres a disconnect between the reality of the business which is not bad at all and the expectations on the street. And therefore you look at A Jack Dorsey can he fix the problem . Do you think he wants the job . Thats the other sort of underlying question that i think people have this morning. Hes had the job before so i doubt he wants the job again. And hes not leaving his own company path. Square. You know, hes known as a great product guy. But its a question of how much you want to tweak the product. If you have facebook envy and you start moving towards facebook youre probably going to destroy the core of what twitter which is a network. Although that has been something we talked about with people here including roger last week. He said look they are afraid to tinker with the original tool because they think its a perfect tool. But if they dont do it his idea is thats what you have to do to actually fix this. Its the opposite of what you just described whats that worth . 50 billion . They have to turn it into something that actually is a moneymaker, right . Theyre doing about 2 billion in revenue annual and theyre just getting started. The question is 300 million active users is three times more than snapchat. If you say to yourself i need to get to a billion users and youre going to be a me too facebook . That makes no sense. The politicians use you, youre great for live events. Dont change it. You have to make it easier to use and monitor. But going back to what joe said is that what is that value. And do you say to the street were not what you think we really are. I think the pricing of the network in terms of advertising should be three times what facebook advertises. But i think that power of reaching this argument should be priced accordingly. And its not. And therefore but if it was, would you be able to capture that value in a company that has 23 billion market cap right now . Just about, yeah. Look. Its a tough question. I think the expectations were set the wrong way. And now the next ceo is going to have to hes going to have to define what the positioning is. Dick was a great ceo. But with the three top if you could choose the next ceo, three possible names you like . Oh boy. I think adam bain whos head of who is the president is has been able to describe what twitter does to advertisers very well. He might not be the right product guy. Its really a tough one. Would you say to sell the company . If google came about, i would sell. But if you use eyeballs and put a valuation on eyeball, is that really real in terms of future monetizization . And is it possible that the Business Model of one company could make eyeballs worth ten times what the other Business Model would allow . Is it an apples to apples thing . Just saying ive got a billion people, therefore its worth this much . Yeah i think can the eyeballs be worth more if you market it the right way, yes. Can they be worth zero . Can they be worth a minimal amount because youre not going to generate anything . A twitter eyeball is worth more than a facebook eyeball. Really . Yes. Because the inference you know, when you guys tweet, people listen. And when youp put a post of facebook, your friends listen. But not people i use it. Its an essential tool for me and everybody in the Venture Capital world for business. Completely essential. That makes sense. The quality of the eyeball. Yeah. Eric, thank you for coming in this morning. Thank you. David faber will be joined by dick costolo and twitter founder jack dorsey at 10 00 a. M. Hear it right from the horses mouth at that hour. One follower im blocking. Entrepreneur and entertainer sean lamprey is here. Well talk the business of rum. Why he thinks the spirit will be the next bourbon. And keep squawking is just ahead. Send us your buzz stories to facebook or twitter. Keep keepsquawking. Squawk box will be right back. You probably know xerox as the company thats all about printing. But did you know we also support hospitals using Electronic Health records for more than 30 million patients . Or that our Software Helps over 20 million smartphone users remotely configure email every month . Or how about processing nearly 5 billion in electronic toll payments a year . In fact, todays xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. With xerox, youre ready for real business. Welcome back everybody. Right now its time for some booze news. Were getting into the summer. Maybe no better way to cool off than with a cocktail or two. The craft brew industry is alive and well. Brew pub openings hit a fiveyear high in 2014 while the number of pub closings actually dropped. The sign that maybe more of them are succeeding. That success is also carrying over to spirit makers like constellation brands. That stock sitting at a 52week high. Now lets talk to zane lamprey. Welcome. Thank you for much. Im just the chairman. Ceo does the work and i do these kind of things. We appreciate that. Same thing around here. Okay good. I hear youre making a cocktail for us first. Yes. Its always good to start with a cocktail, right . I was going to make a daiquiri but it involves shaking this. Im going to make a light and stormy which is pretty simple. Look at this. On the jacket. Yes. I was hawking this on the show. Now we are shipping these out for kickstarter. Yeah. This is a just a built drink. Its pretty simple. Just ice and rum and ginger beer. So this is our toasted coconut. Toasted coconut rum. Yeah. Whos drinking . Ill take a sip. I dont like drinking wine in the morning. Thats good because its rum. Yeah. I can drink hard. So this ones for you. These are actually glassware we make from the bottle. So this is actually made to be a rocks glass right there. Cut it there and then a monkey in the bottom. How do you cut the glass . Well you dont necessarily. I tried. Its not safe to do. We have professional glass cutters do it. So you put some regular coconut rum in there so far. Yeah. So heres some toasted coconut rum. Then ginger beer. Any regular rum in there or no . This is our toasted coconut. And this is our spiced rum. Its good. Yeah. Some ginger beer some ice, and of course some rum. And now hes using his jacket. I have to yeah. I like that. Thank you. Has anybody ever done that before . Put a bottle opener right on the zipper . I think thats probably been done before. That ones for you. That ones for you. Thank you. This is really easy. Yeah. Good cocktails dont have to be complicated. Cheers. Cheers. Ooh. Thats good. Theres a little kick. Its rum. It does have alcohol in it. All right. So lets talk first of all, spiced rum and the coconut rum and the bar. Yeah so this is a product i started about two years ago. And then we actually had some good success in the beginning. And i just realized that i am not a ceo. You know . Im really an entertainer, an entrepreneur, so i hired some. Hes either on his phone or seeing how its going. And so weve now built and evolved the company into these products. So these are premium rums. Theyre both barrel aged. This is barrel aged for six months. This is barrel aged blended for two to three years. How much do they cost . Depends on which state. In new york 25. 99. Florida, california, its cheaper. Thats the way the rum market is. Why is that . You know, i dont know. California and florida are rum markets. So youre taking more margin in new york . Thats what youre trying to say . Is that what i said . Its not taxes . Its not a tax issue . Ian, whats the answer to that . Hes just saying yes. Yes, its a tax issue . Its a tax issue. You know what . Its a tax issue. Hey, so do you know for sure what causes what is the single worst thing for getting rid of a hangover . Heres the deal. If you drink enough of our rum, well get a hangover. What actually makes a hangover this is scientific is alcohol. If anyone tells you, you know we it could be the mixer if theres sugar in the mix . Have you ever drank a lot of soda and got a hangover . I drank a lot of yagjagermeister and thought i couldnt lift my head. If you take a shot its in the stream fast per. Now what about sprite as the hangover cure . If it was, i think we would just know it. We wouldnt be discussing it. I heard the hair of the dog is real. Youre just sort of delaying the inevitable. Alcohol is going to give you a hangover. I was in champaign, france and they said if you drink the good champagne, you wont get a hangover. So i went with the owner of this champagne bar. We drank three bottles of the really expensive stuff. Zane lets talk about your kickstarter campaign. Theres a new move. I think the ftc is trying to make sure its cutting down fraud on kickstarter. People were going up asking for money and not delivering. Yeah. I mean thats going to happen. Thats really part of the issue with the anonymity of the internet. But Something Like kickstarter could not survive without the internet. Youll have people doing that kind of stuff. Really few and far between. I mean all you can do is make sure you know of or something about the person thats behind it to know that theyre going to stand behind whatever theyre going to do. It was hugely important for your success. Yeah. I couldnt have done what i did. I launched my last tv show chug which aired on National Geographic channel on kickstarter. Then i launched this the drinking jacket. We sold about 70,000 of those on kickstarter. I needed that to kick start this project and to prove to myself it wasnt just my celebrity that was driving it. I actually found this actually, this guy found me. And he was having trouble. In about four days he raised about 5,000. And his goal of like 50,000 he wasnt going to hit. So he asked me for advice. Usually people say can you give me a shoutout on social media and the answer is no. Thats reserved for me and things i can stand behind. This guy was just looking for advice. I helped him. We shut down his campaign relaunched it and its the most successful footwear crowd funded in history. What did he do differently . His message was just a little he tried to present himself as being very polished. He went to the factory and walked around the factory and was talking to people like it was his factory. And you were like well if you have a factory why do you need me . Right. Is this your factory, no. We just shot there. You need to deliver the message. Its about truth and honesty. It is. But its also marketing. If youre using crowd funding, youre really kind of going the antiestablishment route. You know . You need to say im doing this without the proper or the normal channels because i need to. This is something edgy. This is something new and different. You know so it gives a lot of people an opportunity to launch. Believe it or not, theres more failures than there are success successes successes. You just dont hear about the failures because theyre small. And there are big successes. The coolest cooler. They launched. They launched at christmastime, tried to raise 150,000 and were unsuccessful. They shut it down they relaunched in july. Now they were shipping in the winter but it didnt matter. People are buying coolers in the summer. And they were at the time the most successful crowd Funding Campaign ever. They raised about 14 million. This isnt really beer. Is that what you got from this whole thing . No, this is ginger beer. Yeah. Its fancy pants ginger ale. Thats why we put the rum in there. Thats what causes the hangover. Yeah. Thats what causes the hangover. Its the ginger. Thanks for coming in. Thank you for having me. If youre in the new york or new jersey area this weekend, you can check out monkey rums Facebook Page to find out where he could be. Or buy it for cheaper in florida. So there. Get on a plane, go buy it and then bring it back. When we return the stories that have you buzzing this morning. What you think we should be talking about. Tweet us. squawkcnbc. And use keepsquawking while we keep drinking. Well be right back. Financial noise financial noise financial noise at chase, we celebrate Small Businesses every day through programs like mission main street grants. Last years grant recipients are achieving amazing things. Carving a name for myself and creating local jobs. Creating more programs for these little bookworms. Bringing a taste of louisiana to the world. At chase, were proud to support our grant recipients and Small Businesses like yours. So you can take the next big step. Hey, can i help you . Yeah, were interested in the iphone. We promised one to beth for her birthday. You know mobile share value plans now include rollover data, so the data you dont use this month rolls over to the next month. Wow, even better. So what are you gonna do with your old phone . Im giving it to my sister emily. She gets all my old handmedowns. Oh im into bedazzling too. And you admit that . Yeah. I. I used to be into bedazzling. Ill go get your phone. Get the iphone 6 with rollover data to share. Only from at t. 50 50. Welcome back. We asked you to send us the stories that have you buzzing and now its time for us to share some of the responses. A lot of you talking about cofounder jack dorsey running things. We told you Rapper Snoop Dogg is throwing his hat into the ring tweeting im ready to lead twitter. He says the first order of business would be to get the money. And theyre not sure he tweets us not snoop foshizzel. I think snoop looked around wheres a place i can actually get high even more frequently than i do right now . I knew you were going there. Ive got a certain amount of pot but i think i could get more. Hes going to move the Head Quarters to denver so they could have a lot of board meetings. And snoop has been outspoken about it. Maybe twitter is a place where he can take a step up. A viewer has a suggestion for a new leader. Tweeting big bird cause the little bluebird couldnt get it done. And then one getting into the mix tweeting could one run twitter at ceo entirely via a twitter account. Asking for a friend. A friend. Just asking for a friend. We hear you. And one more story. A federal Employee Union says hackers stole Personnel Data and Social Security numbers for every federal employee. That suggests the attack is far worse than the Obama Administration has acknowledged. They say the hack was carried out by the chinese. Of course its someone briefed on some of the most secret intelligence information. Harry reid even knew that mitt romney never paid any income tax wait. That was a lie. Are we not going to mention lebron james and his exposing . How do you want to handle that . Theres a vine out there. He was a little janet jackson, wardrobe malfunction. I feel for him. Pulled his pants down for a quick sec. He didnt mean to. When we come back, a movie looking to take a bite out of the movies this weekend. Is there such a thing as a sure thing in business . Some say buy gold. Others say buy soybeans. I say, buy comcast business internet. Unlike internet providers that slow down when traffic picks up, you get speed you can rely on. Its a safe bet. Like a goldplated soybean. Reliably fast internet starts at 69. 95 a month. Comcast business. Built for business. Theres nothing more romantic than a spontaneous moment. So why pause to take a pill . And why stop what youre doing to find a bathroom . With cialis for daily use, you dont have to plan around either. Its the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. Why pause the moment . Ask your doctor about cialis for daily use. For a free 30tablet trial go to cialis. Com when you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. Thats where at t can help. With the tools and the network you need to make working as one easier than ever. Virtually anywhere. Leaving you free to focus on what matters most. These animals are thinking ive got to eat. We have an asset out of containment. Eyes on target. Light it up. You look like a super hero. You do. Thats really good. The dineosaurs are on the loose again. Going inside the big numbers of the block burster franchise that hatched back in 1993. Julia in. Reporter its unusual for a franchise to return after 14 years but now the dinosaurs are roaring book with the largest ever screen count for universal release and with 800 i max screen, its the largest i max release as well. Theyre on track to bring in as much as 125 million this weekend. It would be the third biggest opening of the year. Theyve grossed 24. 5 million in china, france and six other smaller territories. That should help universal estimate its 150 million budget for the filamentm as well as some endorsements. Also cashing in nhasbro and lego. The first Jurassic Park broke records but by the third release, it declined to a third of the first films. It seems like this weekends movie could revive the franchise. Thank you so much. Its something weve been excited about. Why not do it . Batman, how many times can you do it . Fast and furious. Take a little time and bring it back. Can the little ones go . They shouldnt be but they probably will. That does it for us. Have a great weekend. Time for squawk on the street. Good morning. And welcome to squawk on the street. Im david faber. Were live from the new york stock exchange. Carl and jim have the day off. It is news everyone is talking about. Changes at twitter. We will talk to jack dor see and jack cost low later. Lets look at the trading week. We are looking at a down open at this point. Not a lot to tell you
comparemela.com © 2020. All Rights Reserved.