Guest with us.
We were just talking about wrangler from west partner principle.
I am going to kick it off with the obvious.
Janet yellen was obviously confirmed last night.
The vote was 56 to 26 in the senate.
I know that sounds good, but as a matter of fact that was the lowest margin ever by which a fed chairman was voted in by the senate.
As a matter of fact, obviously, it was worse than ben bernanke.
It reminds us, guys, of how political washington is and, frankly, how unpopular qe still is, even though they are tapering it, it is a hotly political issue.
A fair amount of senators did not vote because of the weather.
We have been experiencing this in the midwest threw two new york.
I wonder what the number would have been if everyone could have shown up?
We know that the fed has a communications issue, i would say, and that investors and politicians just want to know more.
Maybe they over communicate, right?
There is so much transparency, maybe it is too much.
They tell you they will do one thing and then one week ahead of time they change their minds.
Think about when we thought we would get the taper and we didn't. they knew something that we did not, we have the government shutdown.
In hindsight it worked out well, but i remember sitting on this desk that day and saying that this was a problem, one i cannot anticipate what they are going to do.
The bottom line, first female to had the fed, a big deal.
Economic data has been getting better.
Her job was going to be to unwind a lot of the stimulus we have seen over the last few years.
Who would want this job?
Talking about jobs, the recent election happened today, the former portfolio manager at sac capital, his lawyers tried to ban the use of the word greed during the trial.
Basically because it had an emotional connotation and did not present any facts.
The new york times says of the request was rejected.
What this point set to me is how hard it is to prosecute these guys.
It is so hard for the jury to understand what happened, they have to resort things like greed.
It brings up a philosophical sort of a question here.
We all know the quote, greed is good.
Think about our economy.
Think about capitalism.
Greed is part of what fires that.
When is that tipping point?
One of the things with insider, from my perspective, these guys are on the playing field but they are cheating.
Get them off the playing field so that everyone can play a fair game.
It is not greed that is inherently bad, it is breaking the law.
There is a desire for just more, regardless of what you have got.
That may be the definition of greed.
In this case that might not prove to be terribly complicated.
Unless the defendants try to make it complicated.
And they will.
It is fair to point out that insider trading laws are not clear.
There are points at which it is really clear.
Absent a smoking gun, it is very hard to prove.
But if they did have a smoking gun, why would they have settled?
Presumably you would think that is what prosecutors would want him to do.
The kinds of research that i tried to do as well, it would be to find out as much as you possibly can, no more than anyone else on wall street in a legal fashion.
Is what we typically call it.
Not being told the number.
Not knowing the guy who wrote the press release.
That is what some of these accusations are about.
What do you have, cory?
Vegas, baby, vegas.
Covering ces in las vegas, there is some interesting stuff going on there, not visa which happened with t-mobile.
Right before ces at&t came out and said that they would be lead -- willing to leave t-mobile.
Quite literally a colorful scene , he was called out as saying it was a desperate move.
So, he goes to the bart -- at&t party and crashes.
He said that he got his tickets for macklemore.
He crashed the party and no longer covering t-mobile, got thrown out of the party.
What happened, someone spotted him?
In his words a couple of goons said that he needed to speak to him over here.
He was wearing that famous t- shirt, exposed.
What i pointed out was that it was not looking strong in the revenues and the number of users.
He was very upset with this.
We both insisted -- that is cute.
It is not just a revenue problem.
The company made two dollars per share.
This past year?
$.53. he should stop going to those parties, right?
It has been a colorful season.
He had the michael bay thing this week, samsung trying to do apple, trying to do a big presentation and a big show.
They get transformers, michael bay, pearl harbor over here he was speaking?
Got screwed up and he walked off the stage.
Thanks, michael they, for joining us.
And awkward clap.
Basically he was supposed to be reading from a teleprompter.
The teleprompter went down.
He got annoyed or flustered, take your pick.
And he walked off.
Let me tell you, it is not easy.
A lot of people had sympathy for him.
They said it can be scary and leave him alone.
This is a guy that directs hundreds of people, big action scenes.
This is the same as working with actors?
I don't think so.
He tweeted "wow, i just screwed up at ces year ago in the moment when you are having a freak out, anyone who has ever gotten up in front of people to speak, i do not care how experienced you are, we have been here.
I am not going to throw a brick at a glass house.
But now he has millions of people now saying -- they, would you do?
The other thing about ces, every 13 or 14 years, it is the failed product demonstration.
Those are hilarious.
I cannot tell you how many times i have seen bill gates trying to demo some product, the screen goes blank, the thing does not work.
We found out from fred's great book about the apple iphone that when steve jobs first showed it off, he had five in his pocket because there were so many glitches.
The teleprompter is not going down on me.
Four hours and hours, days.
You can understand why.
You are going there tomorrow, we will be going there in a couple of minutes interviewing the man behind some incredible new products at corning.
Jon erlichman is going to handle that interview.
I am not going to give it away and i will not tell you what the latest glass is, but it will blow your mind.
This is an interesting story i have to share with all of you.
A couple of comments at the university of wisconsin, they did a study basically showing that investors will bets on a good-looking ceo.
The first day that that ceo comes in to be publicly traded, the stock will actually see a bump of three basis points on average based on whether or not that person is good-looking.
So, anybody 10% less good- looking?
They do not see that kind of bump.
Remember steve balmer?
The sweaty monkey thing?
Jumping up and down?
We know how this goes.
These presentations at the breakout sessions, you sit there at the back of the room and say -- look at that guy, there is no way i am buying that stock.
This is the story, somewhere.
It apparently starts with how hot the ceo is.
We can go hot or not with this kind of game, right?
So, marissa mayer.
Anyone in silicon valley?
She scored 8.45 out of 10 points on this website.
The economist went there and put people's pictures in and look at the results.
Mark jacobs actually did really well to.
That salt and pepper hair?
See is nice.
I handsome guy.
There is an executive at bloomberg television was a big fan.
What did you say?
I will tell you later.
People who rave about their beauty constantly, they have fans for a long time.
Apparently it helps.
We will see in two years.
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