This is "taking stock" for wednesday, april 9, 2014. today's theme is engineering excellence.
We are marking the 60th anniversary of ferrari in the united states and will be introducing you to a special for ari --ferrari.
I'll be introducing you to the chief executive of ferrari north america, marco mattiacci.
When it comes to engineering, how about excellence when it comes to food and sandwiches?
The chief executive of an air of bread.
All that and more coming up over the next hour on "taking stock." first, for the headlines let's go to my radio cohost carol massar.
Jamie dimon out with an annual letter to shareholders writing the bank had conversations with regulators before settling into trading losses.
They said they should do more self-examination and that they should be better listeners.
He federal reserve releasing minutes from the march meeting paying down forecasts saying that interest rates may rise faster than previously predicted.
U.s. stocks rallied on the news that technology shares gained the most in two months.
New jersey's credit rating was cut to a plus citing the sizable imbalance and this is four levels above the top hitting cap -- california and illinois in the category up the top.
Those are the top stories.
Back to you.
Thank you, carol massar.
We are broadcasting live from ferrari midtown.
Joining me now is marco mattiacci, chief executive of for ari north america which include central and latin america and we're here to mark the 60th anniversary in the united states.
Thank you very much for having us here.
Tell us a little bit about the history of coming to the u.s. thank you for having us here.
It's a great moment for us.
60 years is a remarkable achievement but 60 years of incredible success, racing, victories, great drivers.
The best engineering.
35,000 customers and millions of followers in all of our activities.
It's a great story.
Let's understand the grace of the scale when it comes to ferrari.
You have set a target of 6000 units and sales are estimated to maybe be about $3 billion.
You've done some work on the brand and your trying to make it a little more exclusive than some of the offerings that you have.
Tell us about strategy.
Flex one car always left down the market.
Having said that, we believe that the brand in the future will be branded through transactions.
We want the most exclusive experience.
That means quality more than quantity.
That means less people are inspired by the brand.
This is a company growing continuously bringing to the market best technologies and bringing the based activity.
We evolve and we will always be the authority in motorsports.
I just want to whet people's appetite.
There are many things that are special about the 458 but it has to do with something called sideslip control and it has to do with the blending of software and of course the drivers road experience.
What is it?
It is a slide slip angle control and it allows for a delightful experience on the track with a great distribution of torque.
Even though you are not the best professional driver, it you get the motions probably the best driver can get with a for ari.
It is maintaining the best technology that access to those who cannot drive like a professional driver.
Flex is this the kind of technology that could help our technology analyst pushed to the limit?
From what i hear, he's pretty good.
He's very experienced.
I don't think you would need to much.
But is the pedigree of the 458? what does it take from other models?
458 has been one of the most successful winning cars and racing.
We won at le mans, the 24-hour daytona.
Professional drivers are driving the car in endurance races.
This is one of the most powerful cars today.
A most powerful thev8. it is the most emotional driving experience.
4.5 liter v8 0-60 in under 3 seconds.
Will it help them to understand that the la ferrari is $1.2 million and this is $288,000. will it help customers understand that you have this range of prices?
We had only 120 units in the united states and we could have sold double.
Flex total production was?
499. we could have sold more but we really limited production.
We brought in a lot of technology from formula one.
Instead of playing golf on the weekend, if you want to have more adrenaline you have the especiale.
It has been described as an adrenaline rush as an ego.
Have you driven it at 202 miles per hour?
The fast lap is at the test track in italy?
We have more in the united states.
Sometimes i'm able to do a few laps.
I like to challenge myself.
And has a carbon fiber door panels.
This also lightens the car, didn't it?
We looked at the ratio of power to weight.
It was 200 pounds lighter so we streamed down the car.
It is the really basic interior.
Even the look and feel of the car.
We will continue the conversation.
We have more on ferrari, more on the 60th anniversary in the united states.
We also have jason harper, bloomberg news auto columnist.
We will see if you was able to put the ferrari 458 speciale through the paces.
This is "taking stock: on bloomberg -- "taking stock" on bloomberg.
? this is "taking stock." my guess into the chief executive of ferrari north america, marco mattiacci.
Also we have jason harper, bloomberg news automobile columnist.
He has just come from the track.
You have the red shoes, your special driving jacket.
What automobile were you able to drive?
I was in the speciale today.
It was the first media drive.
I'm the first journalist to put the car on a track or any bit of asphalt in the u.s. there is a key and then the red button.
You have to turn the key and then hit the red button and then hear that beautiful, vibrant sound that comes only from a ferrari.
But almost sounds like it might be worth 280 $8,000. what else is in the car that's worth it -- worth $288,000? every time it does a reiteration of the mid-engine hard-core smart car -- we need to make the difference clear.
They have the front engine, generally cars that might take a long trip.
These are ones you take on the race track and go all around.
The speciale is stripped down, much more hard-core, and you do exactly what i do today, and i drove an hour and 40 minutes to the monticello racetrack and drove it hard for about three hours.
You can tractor into the day and get back home in it.
That is kind of the purpose.
Collect the interior has the -- the interior has the sued.
It's much less weight.
It really helps to reduce about half the weight of traditional leather trim.
We were obsessed in reducing as much as we could the weight of the car.
No floor mats.
Flex is a aluminum?
-- is it aluminum?
The door handles are beautifully crafted carbon fiber.
The seats are very comfortable.
They don't recline.
You need to feel integrated.
The scene is a fundamental part of the driving experience.
In many cases, it comes with a four point harness because you want to feel locked into the automobile.
If you have someone there, don't forget it.
They are not allowed to sell the crotch or harness automobile.
Flex unless you have a challenge car.
Let's talk about using this package.
This sideslip control, this algorithmic messages to the rear differential in order to compensate for under or oversteer?
They are not the only company doing this, torque vectoring.
They're using on the system this to do what you want to do.
In old cars you would under steer a pushing out towards the track or your car gets away from you.
This one i drove today is still fairly cold out.
On a perfect day would be 75. today it was 50. what does that mean?
I had it lit up pretty good.
We had it up to 135 miles per hour.
I was going around curves and this is a track i have spent a lot of time on and i was able to do some lines today taking paths i would not be able to do with other cars because of the technology.
With the 458 speciale, we have a telemetry package.
It allows you to put a usb or ipad app where you can record.
You know what i got up to today.
We can review everything he did.
With your permission, we will do it.
It's important because we really want the driver engaged with the car and improving performance and understanding on the track where he can improve.
Flex one other interesting thing was driving on the freeway even around town here.
When you get more of a focused, hard-core race type, it beats you up.
This car is still pretty comfortable.
You know what else happens?
Have you heard of all of the recalls from toyota, general motors?
You don't wish this on anyone but are they doing the right thing?
You must have the names of everyone who buys them so you -- i'm not in the position to judge if they are doing well or not.
We need to make sure that if there is an issue that you fix it and you communicate to your customer this issue.
You need to be straightforward.
You need to have an incredible reaction.
It is important that every new -- tahat you understand the issues.
Safety is the most important topic for us.
All the investment in formula one are in that direction.
In terms of safety you see all of these tasks and this is the philosophy for us.
You will find out more about the competition and we want to find out what mercedes has been doing in formula one.
This idea of automobiles that then take sophisticated high-end technology and it trickles down out your many cars drive on a day-to-day basis.
You look at your average kia or hyundai and this is technology would have found in an s class mercedes four years ago.
A lot of it is safety mainin ded.
I don't think you want to do self driving.
Flex it is trickle down.
We have more with jason harper, bloomberg news automobile columnist.
More with the chief executive of ferrari north america, marco mattiacci.
This is "taking stock." ? ally financial, formally general motors, set to price its ipo coming in at $25 per share, the bottom of the pricing range.
Having a washer dryer in your home is considered a luxury for many new york city dwellers in our next guest is cleaning up when it comes to cleaning up on it.
They pick up, do, and drop off your laundry.
It's a mobile based business.
You summon us by cleaning the app and we will come sometimes 10 minutes, sometimes less.
Why did you do this?
I had a couple of bad experiences that it actually shrunk my sweater to it fit on my four-year-old sweater.
They said it was not my responsibility.
I started to think about convenience, the pricing experience, everything involving dry cleaning and laundry.
How do we solve this in a better way?
You are hooking up with dry cleaners and laundromats out there.
How do you check quality control to make sure other people's sweaters aren't being shrunk?
We have quality control.
We maintain at every step along the way.
If there's a problem that happens, we do everything we possibly can to make sure it's the best experience you can have.
Thanks i assume you are screening and testing them before you hook up with them?
We have a pilot program with every single vendor.
We try to limit them to best in class to make sure we are executing.
How are you making money?
Volume, growth, demand, engagement.
What is the service cost?
$.99 per pound for laundry.
Dry cleaning can be two dollars shirt, $10 for a suit.
It is the lower end of the market for pricing and we are able to do that.
Six dollars -- $10 for a suit.
How much is profit?
We take the portion apart from cleaning.
We are in bushwick, greenpoint.
We just launched in 100303 and we want to open through the rest of the year.
There are others out there and they are kind of regional.
Prim went under.
The one to grow organically or a link up with other services?
It is really built on a technology program, logistics with dry cleaning.
We think we can expand and be the best by far.
I think i read the story of the end of december.
It's a tough market.
Just based on engagement and growth, i feel like i know delivery pretty well.
What did you learn?
It's a delivery model.
Convenience and customer service is first.
Seth berkowitz, chairman and cofounder of flycleaners.
Cutting down or wait time.
How they will get your bread to your faster.
This text has been automatically generated. It may not be 100% accurate.