Snowden Speaks: Leaking NSA Details Was Right Thing

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July 15 (Bloomberg) -- Adam Johnson reports the latest news about NSA leaker Ed Snowden's quest for asylum. Representative Ron Widen, a Democrat from Oregon, also speaks on Bloomberg Television's "Lunch Money." (Source: Bloomberg)

Here is what he said during the meeting.

Individual citizens have the duty to violate the must have loss to prevent crimes against peace and humanity from occurring.

Accordingly, i did what i believe was right and began a campaign to address what i witnessed.

I did not seek to enrich myself.

I did not seek to sell u.s. secrets.

That moral decision to tell the public about spying that affects all of us has been costly.

But it was the right thing to do.

I have no regrets.

My number one request would be that i have some kind of legal status to travel and perhaps stay in russia while this situation is resolved.

On sunday, political talk shows were critical of mr.

Snowden.

But he was not the only one in the hot seat.

The obama administration came under fire as well.

We essentially have secret laws that direct secret surveillance largely interpreted by a secret court.

I do feel strongly this is a debate that should have been started by elected officials and not mr.

Snowden.

He is a traitor to this country.

He took an oath of loyalty to the united states.

He is running for cover with our enemies.

Also discussed this weekend, immigration.

Republican representatives left the wednesday conference united on the need for reform but divided on what it should look like.

Moving on, coming up, there is something that will probably last for ever.

There they are.

It is the sweetest comeback ever.

They are on the shelves today.

"lunch money" will be right back.

? this is "lunch money" on bloomberg television and streaming live.

I am adam johnson.

The return of the twinkie.

It is back from the dead.

20's have been out of production cents a hostess declared bankruptcy months ago.

They purchased the brands for $410 million.

They are putting twinkies back in the stores today.

It is happening today.

Here is a taste in case you forgot.

[applause] ? creamy filling.

? try one, mom.

Tastes great, less filling.

That is different.

Betty liu spoke with the former chairman of hostess.

He was in charge of bringing hostess' out of bankruptcy and putting twinkies back on the shelf.

Any time you restart a business from zero, that is a difficult proposition.

I think the team that resulted had a very good plan about how they wanted to ramp up production in the plant they purchased.

I think they have done an excellent job on the marketing side.

That is what these products needed.

They needed some sort of kickstart.

What did they do different on marketing?

I think they have done almost everything differently.

If you go back to where hostess was, we had almost no money to spend for almost a decade on capital expenditures or marketing.

If you look at the banners , los angeles, social media, it was well thought out.

Twinkies is a well-known brand.

Did it need much marketing?

Was that the reasoning of the former owners?

I think it did.

It is a once-in-a-lifetime opportunity.

When we were selling those brands, that is what we were selling.

Not very often can you relaunched a 70-year-old brand and generate excitement.

I think what they have done it makes a lot of sense.

They will be made differently.

10% will be frozen going to the stores.

Is this part of the change, the new management that will think differently about twinkies?

We were working on extending shelf life prior to selling the brand.

Those things make sense because they go more towards how you distribute and what markets you can distribute into.

It broadens the customers you can distribute to.

Other than that, you are talking about the same product.

Where are the new markets?

I am not there now.

I am guessing.

He would like to see the products show up in dollar stores, for example.

They were largely in big box and a grocery stores and convenience stores.

There are other segments of the market.

That was the former chairman and ceo of hostess brands.

When we come back, how to make money in the family business.

Funny business.

We have an interview with the founder of college humor.

We will be right back.

? this is "lunch money" on bloomberg television and streaming live.

I am adam johnson.

Being funny is big business online.

It is hall college humor landed more than 4 million subscribers.

It has now released its first feature film.

Last week, it was reported he would step down as ceo.

Deirdre bolton sat down with him to talk about the growing media empire.

I think having been in the digital media ecosystem as well as the media landscape for the past 25 years, i have come to understand not only how media companies work but also what consumers need.

I got fired from my job at the food network.

? mitt romney star of ? -- your mission is to create funny videos that go viral.

That is a simple idea.

The secret sauce i imagine has lots of ingredients and adjustments along the way.

How do you do it?

It is something we call the sieve, how are secret formula of what needs to be added to the is to make them go viral.

I imagine with the social platforms, you get immediate feedback to know what is working and not.

Absolutely.

With the social platforms and our net how book -- our network, we can see how many hits it is getting.

If we see something start to accelerate and extraction, we will promote it more on our home page or facebook or any of the platforms out there for us to reach users.

We actively try to work on helping something already going viral go even more viral.

Are you at the money ball stage at?

We're getting there.

We are dated driven.

We have a sophisticated platform that helps us in real time understand how things are doing.

Not just videos.

We have a lot of non-video, -- content as well.

Those go viral.

We can see how those are doing.

We work with partners.

We have a great marketing and p.r. team that helps us reach out to partners and say, we have something topical or that you would like.

It is a combination of making all those leavers were -- levers work with each other.

In new york city, i am assuming you do not have a hard time finding.

Writers or designers.

We have high standards.

We want to find the best.

Our teams create a very high quality work.

It is silly jokes sometimes and funny videos, but we still believe high-quality great ideas win.

Is one of the reasons we have been successful.

We do work on finding the best people we can.

We have a rigorous hiring process.

Is it helpful to be part of barry diller's isc in that you are more legitimate than some of the companies that will try to erode your market share?

From a business perspective, it is.

Consumers do not know we're part of it and do not care.

It is about creating great comntent.

From a business perspective, it has a strong brand.

That helps.

People want to work with you.

What it helps with is having the support of iac and the opportunity to work with someone like barry diller, a captain of industry who is a pioneer and has done incredible things com, having access to his knowledge and experience in and showing interest in the business giving us support has been amazing.

We're lucky to be part of it for that reason.

What is his favorite video or game?

That is a good question.

I do not want to guess for him.

He has liked a lot of our videos.

I think he appreciates a lot of different ones.

One of the ones he really enjoyed was teh dora fake movie trailer that went viral.

I know someone who specializes in covert artifact recovery.

She prefers the term "explore." you need the world's greatest explorer.

Dora!

He gave us a lot of kudos for about one.

We talked about the videos.

You mentioned the cartoons.

You are printing into movies.

This is your first feature film.

There are video games as well.

What is a win for you with this?

Obviously we want to make our money back and a lot more.

We also want to elevate the brand and have people understand college humor is not a website.

It is a multimedia studio that creates great content aimed at people 18 to 34 and beyond reaching people wherever they are.

We're using our unique talents to expand into those areas.

Paul greenberg left college humor on friday.

He has not yet said where he will go next.

Tomorrow, coca- cola cracking open its latest earnings report.

We will give you its most bizarre flavors.

There are some weird ones.

Skateboarding bulldogs in peru.

They meet every saturday to practice.

? it is time for bloomberg to take you "on the markets." let's start with what is or is not going on in the stock market.

We're seeing small gains across the board for u.s. averages.

Retail sales missing economists' estimates by half.

We're also getting empire manufacturing on the plus side.

One other positive factors, earnings from citigroup.

The company with earnings rose by 42%. it beat analyst estimates partly on the strength of stock trading revenue.

We've seen a lot of investors rotate into the stock.

Citi holdings showed its smallest loss ever.

The turnaround for the company is in the early stages.

It is coming off a very low base.

Thus new ceo trying to cut costs to improve the bottom line.

We have now heard from citigroup, jpmorgan, and wells fargo.

Alden shown strong gains outpacing the market.

-- all of them have shown strong gains outpacing the market.

Let's preview what is going on for earnings out tomorrow morning.

Joining us from london is the managing director to her talk to us about how to play goldman in the options market.

What are you looking for from goldman sachs?

What will you be paying attention to?

To follow-up on citigroup and jpmorgan earnings last friday, we are looking for a positive number on the headline with goldman sachs.

Analysts are looking for around $2.80 a share, a 20% increase on revenue.

We're sitting around that estimate as well.

The top end of the estimate is around $3. with goldman, jpmorgan, and other banks, they have had a strong start to the year.

The first half was very strong.

We're looking for the second half to be similar.

We will talk about a strategy that gives a benefit to the upside move after the announcement and the end of the year.

What is that strategy?

You are looking at a 170 calls.

. it looks like that is assuming the stock will continue to go up.

Exactly.

Before we came on the air, we had goldman at $1.62. we're looking at a long call spread.

This text has been automatically generated. It may not be 100% accurate.

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