Money. Now, maria bartiromo. Heres a look at whats making news as we head into a new week on the money. Slow but steady. The Labor Department says 157,000 new jobs were added in the month of january. About in line with analystss expectations. The Unemployment Rate kicked up to 7. . But the job creation numbers for the previous two months were revised upwards. The dow industrials wrapped up the month of january on a down note non thursday. Though it had the best january performance since 1994. The dow closed above 14,000 on fridayor the First Time Since 2007. For the month the dow industrials were up 6 . The s p 500, 5 . And the nasdaq was up 4 . I think theres a lot of positive in the market right now. Is it going to go straight up . No. Is it going to blow up . I dont think so. Is february and march going to be choppy because of sequestration . Yes. But i think were higher from here by the end of the year. Meanwhile, u. S. Economic growth was nonexistent in the last quarter of 2012. In fact, the Gross Domestic Product contracted by an unexpected 20 . Defense spending and business inventories were down. Consumer spending was up. An encouraging sign. Big internet signings, cebook beat effect tagss, as diddia hoop. Sam am so fell short. Boeing pass eed estimates and sd the top priority is to fix the battery problem on the 787 dreamliner. Despite big corporate earnings, big investorsre worried about what washington may do. I think the hardest thing today is being in a section of politics and business dont work. Its very hard for businesspeople to say what politicians are going to do. They do think for noneconomic reasons. Meanwhile, blackberry is hoping the new phone and operating system will be the perfect ten. Unveiling the new product line. The blackberry 10, it comes with 70,000 apps and its designed so you only have to carry one phone for both personal and corporate use. Theres a music store, movie store. That indicates the audience is regular people, an yet theres this blackberry balance featurer that lets the company put their apps and wallpaper in a segregated sand box. And you cant see that stuff without the pass word. So, in other words, you can have your personal stuff and your corporste stuff side by side. Just part of the conversation taking place this week in the news. It has been an extraordinary week with the markets having an astounding month and enough Economic Data to choke a horse. We have two of the smartest guys in the room right now. Roger is with me, former deputy we treasury secretary under bill clinton and chairman of ever corp. Partners. And from a a vice chairman of t Federal Reserve he is also the author of after the music stopped, the financial crisis, the response and the work ahead. Gentlemen, its good to have you on the program. Good to be here. So much to discuss. Allen, this week we have the unemployment report in the month of january, in line with expectations. Unemployment rate ticking up to 7. 9 and the disappointing gdp report. What does that tell you . I think if you what you need to do is average through the third quarter, which was higher than it should have been. And the Fourth Quarter, which is lower than it should have be. Why do i say that . We have this big mysterious bounce up in defense spending. Government spending in general, seems mysterious in the third quarter. Then it disappears in the 40 quarter. If you average those two, ditto with inventory. Acouple lakes and decumulation. If you average those two, it looks like its been looking like a sort of a 2 minus growth trajectory, which is, you know, fa from zero but not very good. What do you think . I agree with alan. I think we are growing at around 2 and the Fourth Quarter will turn out to have been an outliar with a minus 0. 1 . I personally think as the year goes on, 2013, and we get towards the end, youre going to begin to pass out of this four to fiveyear period where the dominant force was the head winds triggered by 2008 and were going to move into a somewhat better period of growth. I think once we turn the corner that way, the risks may be on the upside. Okay. Meanwhile, throughout all of this and this uncertainty, the markets have been on a tear. So much money moving into equitys and youre seeing even the small investor begin to return to the market. So doeshis jive in your mind in terms of whats behind all the vibrancy . I think it does jive because of the point of transitioning to a stronger economy, number one. But number two, ceos are optimistic now. I think youre seeing that indirectly in the way the equity markets are perform sfwlg the Federal Reserve, not a lot of alternatives. People looking for yields, looking for returns. Where are you going to get it . That was one of the stated objectives in the feFederal Reserve. You can find that in bernankes speeches. We want to beat the rate on treasuries down to nothing so people have to go out and buy Something Else other than treasuries. Thats what theyve done. Lets talk about the debt because this is obviously front and center, aswell. I want to get your take on what we hear f from mcginnis, from t fix the debt committee. Im worried that theyre talking in ways that entrench on both sides instead of thinking about how do we focus on what needs to get done and we havent done yet . Performing entitlements and the tax code, and putting in place a deal thats big enough, bigger than the sequester, to actually put the debt on a downward path. Now, roger, i know you say we are already on that path toward getting our arms around this. But it just seems that we all know the main drivers of the debt, 16. 4 trillion in debt, this country faces. Health carecosts, medicaid, medicare, social security. There arent any real plans on the table to slow down spending. I think the mixed picture is as follows. Yes, i think more deficit reduction is occurring than most people realize. If the sequester actually occurs or cuts equivalento the size of the sequester occur, 1. 2 trillion over two years, you will have had 3 trillion of deficit reduction done or in the pipelines, and Simpson Bowles two years ago called for 4. 5 . You will have done two thirds of what they said. Although if they were sitting here today they would probably call for a higher number. However, its not being done in the right way. On a balanced way and adequately balanced between revenues and spending and the key to spending restraint over the very long term, entitlement reform is not as mcginnis said, part of the picture. Alan, your book. Lets talk about that for a moment. You argued the t. A. R. P. And the stimulus did their jobs. Why and what did we learn from the crisis . Well, why . We had a very sick financial system, especially a sick banking system. That had to be the first order of priority, even though it was bound to be incredibly unpopular politically, which was. And still is, by the way. Theask people about the t. A. R. P. , now they twist their heads into awful shapes and say why didnt the government ever do anything like that . Theres a reason. If that ship went down, financial ship went down, all of us were going to go down with it. It will go down in history eventually as an incredibly successful government policy. As will the unknown piece of it which is the Bank Stress Test that followed the following spring that sort of put the green light back on the financial system, the government said weveexamined these, some of them have to raise capital, they raise the pital, it looks safe. Youve gottenfinancial commandments going forward. Yeah. I especially like thou shalt reremember that people forget. This is my personal favorite. And thou shalt well it simple, stupid. Do you think they will . No. We are still remembering because the wound is type and peel are healing. As people get better they will bet carried away in yeuphoria. People will start inventing con connections that people barely understand. Including them . Including them. Some of them got caught in their own mouse traps. Certainly. Gentlemen, we appreciate your conversation. Thank you for joining us today. Up next were on the money and with the billionaire determined to give it all away, microsoft founder bill gates on his mission to change the world and what he thinks of the company he started in todays technolology in this trade. Coming up. Later, the business of broadway. How the big bets are the real showstoppers on the greathite way and beyond. Way and beyond. Stay with us. Well, the worlds second richest man bill gates has a mission to change the world one glar at a time. The billionaire philanthropist released his annual letter this week describing the work his foundation is doing to address challenges in Global Health and education across the globe. I spoke to the man who made microsoft at the World Economic forum in davos last week. The road aweighedhead for the company he founded and his success successor, steve bammer. Tech leaders, those are hard jobs. Amazing things. Be great. Microsoft has not had an easy time recently. Would you ever return to the front office . Im engaged adds chairman on a parttime basis but my fulltime work for the rest of my life will behe foundation work. Crosoft has a lot of exciting things going on. Its a competitive field. Windows 8 has done well. Surface computers are doing well. So i share lots of ideas about where office should go and, you know, i think the field as a whole should be proud of how quickly its moving and microsoft is lead in a lot of those areas. You and melinda have given away some 28 billion through your found dags. Your fortune is still more than 68 bbillion. Where do you see your work now . Well, were committed to the diseases that affect the poorest, malaria, live, all that affect childhood condions. Until we treat the health of that poor child as being as important as health of a rich child, well still have work to do. And, you know, that gives us decade after decade of needing to make progress. Malaria is a great story. The decaths have come down a lo. We dont yet have the tools to do eradication so were funding Drug Companies and bed neck concepts that will when we get them, length chully give us enough to take wholeountries and get malaria to zero and, you know, some day that will become a disease like smallpox, like polio will be soon that wont be killing anyone. What continued investment is needed at this point . In other words, who are the biggest stakeholders that you want to reach, that you havent reached yet that havent been as generous as they could . Is this process harder as we see austerity taking place all around the world . Well, the money that helps out the poorest overwhelmingly comes from government aid budgets. So what kind of priority that gets, say, in the u. S. Budget process over t the next four or five years, i would say is pretty unclear. Will the generosity go up, will it be cut proportionate willy or suffer a disproportionate cut. You know, unless we tell the aids story very well, i would be quite worried about less generosity. Let me ask you a little about technology. A massive revolution continues. Social media. Whats your take on whats going on right now and whats most exciting to you . Well,ere tataking the internet revolution and were applying it in more areas. So ex, for example, in education, the idea that not only are r. The best lecturing online but you can interact with other people and talk to other students. We o ought to be able to delive education thats high quality but dramatically low cost. A lot oft our unemployment is because kids arent well educated enough. If youre a college graduate, unemployment is very low. And so weve got to increase access to education but letting the price go up wont allow that. What are you hoping for in terms of the gopments at microso microsoft . Are there areas that you would like to see the company further into . Well, we got windows and asset windows andffice as two primary assets. In office, letting people prepare information and share it in the interactive way, theres a ton we can do. Skype is the most popular Communication Service in the world but we can make it easier to find people you want to talk to, organize groups, get notified. So were in so many area wheres were thinking about information workers and a deeper fashion than any of the other companies. You know, weve got our Great Software skills. So i would say the opportunity is great as ever. Weve always lwaoved the amazin competition in the field. And, you know, its as exciting as its ever been. Tell me about your own technology. Final question here. It was reported that your daughters arent allowed to choose apple products. What do you carry . What is always in your hand . Windows pc for my reading. Are they t not allowed to use apple products . Theyve never shown any interest. They love their windows phone, so so there you go. Bill gates, thanks very much for joing us. Up next, were on the money and inside broadway with two veterans that have taken their show on the road all of the way to hollywood. The producers who know how to succeed on broadway, on television, and at the Upcoming Academy awards. Oh arent you broad to be in that come on, kids, lets put on a show. My next guests are om of the most musical producers across film. Best picture winner chicago as well as stage to screen musicals hairspray and the mu sin man q. And the 2013 Academy Awards program. Craig is joining us right now. Good to see you guys. Thanks very much for joining us. Our pleasure. Glad to be here. Good to see you. Look, im a big fan of smash. I want to say that right out of the gate here. You produced smash which starts its Second Season on television this we. Its interesting that musicals have become so popular on television right now. I a actually think that gle opened t ed thed the door for t happen. Glee made the audience used to see people sing and dance in scripted form. Smash took it a step further by having original music and also by having the backdrop of a broadway musical. And so its very organic and it gives us license to play with the form. Craig, smash is about the broadway industry. Is there a chance that developing this show will launch a new business for you, an actual stage production of the show within the show . You know, when we first started working on the show, steven spielberg, who hired us and asked us to produce the show with him, because it was too stevens idea originally, one day in success, if we get to that place, maybe one day well take the show that were writing for smash and mount it on broadway. It was never a game plan, but we always tught in the back of our minds that could be like a fantasy. And you know, when we were shooting, we all stand around on the set watching these incredible musical numumbers happen and we say, wouldnt this be great on stage. So weve certainly talked about it, but the actual reality, it hasnt happened just yet. Youre right, though. Yeah, what its poised for such success. I agree with you. Absolutely. Solutely. And in success, with doing that, it creates a new business for us. I mean, the idea of basically platforming an original show on tv and then having it adapted t to the broadway stage and then tours and then maybe making a feature film of that, i mean, it really, in success, its limitless. Look, you know, ive been working on this documentary on broadway and weve been hearing that broadways particularly an industry where you can make a killing but not make a living. That is the greatest quote because its so true, because maybless than 30 of the shows that are produced on broadway actually recoup. And thats not a very, very High Percentage rate were very lucky we produce two broadway shows in the last couple of years, promises promises and had a succeed in business with daniel rat cliff and both shows made their money back. So weve had a great batting average so far which makes it easier to raise money for all of our future shows. Let me askou about your current project, and its a huge one again. Youre producing the oscars later this month, hosted by Seth Mcfarland this year. How tough of a job is this to get, number one, you got it. Craig, who are the stakeholders to please . Youve got the network. Youve got thei izadvertisers. Youve t got the audience. Talk to us about the oscars and putting this show together. Well, you know, it really wasnt tough to get the job because we werent anticipating it at all. We had talked about it for years and years and years, and we said its been on our bucket list of things to do but theres not a campaign that you do. One day we were involved smash was shooting, craig was working on some other project and we got a call from the president of the Motion Picture academy and he said, w would yo guys like to do the oscars . But its really exciting because its like the Biggest Candy store you can imagine because youre dealing with literally every star in hollywood and every creative person in hollywood. And for the most part, everybody wants to be on the Academy Awards. And youve got Barbra Streisand performing, right . Is live music going to be incorporated in the show dilute . Yeah. Very much so. We have adele who is going to sing sky fall, the first time shes ever sang the song live and may be the only time she ever since it live. And streisand hasnt done the Academy Awards in 36 years. All right. We will leave it there. Guys, great to have you on the program. Beth of luck with the oscars. We will be watching. Thank you very much. Thanks. Nk hope you like it. Im sure we will. Its good to see you both. Up next, a look at the news this week that will have an impact on the money. As we take a break, take a look at how the stock market ended the week. At legalzoom, weve created a better place to handle your legal needs. Maybe you have questions about incorporating a business youd like to start. Or questions about protecting your family with a will or living trust. 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