Will Twitter IPO This Week?: 9/30 Full Show

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Sept. 30 (Bloomberg) -- Full episode of "Bloomberg West." Guests: White House Director of Communications Jennifer Palmieri, ZT Wealth Chief Economist Max Wolff, Cooliris Co-Founder Austin Shoemaker, Founder & CEO of Academia.edu Richard Price, Global CEO of Interbrand Jez Frampton, and Bloomberg’s Julianna Goldman, Peter Cook, Jon Erlichman and Jordan Robertson. (Source: Bloomberg)

Live from peer three and san francisco, welcome to the early edition of "bloomberg west." i am emily chang in our focus is on innovation, technology, and the future of business.

This could be the week we learned what had is inside the twitters secret ipo filing.

The documents could be made public this week setting up a trading debut this fall.

Apple and google become the world's top two most valuable brands knocking coke out of the number one spot for the first time in 13 years.

Why is tech home to the hottest brands?

What does the end of "raking this could be thebad" mean for amc?

Let's turn to a story happening outside technology, a potential government shutdown.

House republicans are now demanding a one-year delay in the affordable care act in exchange for keeping the government running through mid- november.

Let's bring in julianna goldman from washington.

She has jenniferpalmieri with her.

I am joined by the white house communications director.

We just heard from the president speaking in the oval office with the israeli prime minister and said he has not resigned himself to a shutdown and is eager to hold ago she asians over some kind of long-term debt deal.

When will we see the president meeting with house speaker john boehner and harry reid to start these negotiations?

I expect you'll see that resident reach out to the leaders at some point.

Forit looks like that well happen.

And terms of negotiations for the bill before us now, we are not talking -- the house and the senate are not trying to pass a major deficit reduction till or budget bill.

This is just a two-month bill to keep the government operating at current levels.

You want to do that now so you have more time to negotiate a broader budget deal.

The president has been wanting to do for many months.

We are just talking about a two- month bill to keep the government open, there is not a lot to negotiate or talk about.

You say between now and the next 11 hours, the only way to avoid a shutdown is for there to be a clean continuing resolution.

What if the house came back with a provision to keep government employees from the contributions to their health care plan?

What the senate will do, i suspect, is take the standard practice of doing a funding bill that has been flat for two months, keep it at current levels and pass it without any sort of additional restrictions on unrelated matters.

We believe that's what the house on the senate should do.

We think the senate will probably put the bill back in the house's lap that allows them to do that.

Then we can address the longer- term budget issues in a more reasonable setting.

The president will not accept extraneous things that have to do with healthcare and not the budget.

Some of this might increase the deficit.

How reasonable can be the negotiations since we are staring down the october 17 deadline for the debt ceiling?

You will not have the president and his budget -- last year we negotiate with speaker john boehner and put together a long-term package that would help reduce the deficit and make important investments we need to do in education, research and other things.

Have been working since then to get support for that package within congress and we are happy to do that.

What we will not do is allow the house republicans to use the deadline of a shutdown or to use the threat of having government defaults in order to extract concessions on political matters that have nothing to do with the deficit.

They need to get these matters behind them and we can focus on the long-term.

Thank you so much.

That was white house communications director, jen palmieri gearing up for another busy few hours and few weeks.

We are going to be covering this throughout the day right here.

We could be just weeks away from twitter going public and days away from learning more about its business.

According to sources, twitter is planning to make details about is confidential ipo filing public as soon as this week.

Once that happens, we will learn more about how they make money and if the ipo moves ahead, twitter to be trading late october or early november.

There is a catch -- if congress cannot avoid a government shutdown by the end of the a, it could impact agencies like the sec.

They would be left with a skeletal staff during the shutdown and that would slow procedures with twitter and other companies going public.

I am joined now by max wolf.

You have been following the timing on this.

How drastic a change could this be on the twitter ipo?

Certainly, it is a risk.

We are unlikely to see the longer-term multi-date shutdown that would delay the spread we see a whole lot of companies trying to get through the ipo door while it's open.

That means a lot of work load for a somewhat light staff.

The door seems to be open and you are one of the guys who thought twitter would go public in 2014. what do you make of this faster timing?

It looks like it will be late in 2013 and this is exciting because it is our first test case of a marquee company using the disclosure provisions to go public.

If it's successful and there is every reason to believe it will be, you will see many people try to jump on the bandwagon if twitter does as well in its approach to the public markets.

It seems that twitter is moving at speed.

They could take their time if they want to.

What is the benefit to moving faster?

Does that build momentum?

Twitter has made the big- time and is on its way to becoming becoming the second screen alternative.

You see more from espn to nielsen and others integrating twitter into their advertising.

We believe that twitter will come out above $650 million in earnings this year with rapid growth.

Look at the stock price on facebook and the recovery of the other story is the positive news.

It has been pretty tough for the tech community to get out with successful ipo's and we have seen that window swing wide open and many people are trying to get through it before it closes.

You think twitter could only have something to lose if they take more time?

Especially now, when you use the jobs act and do the disclosure light, what grows in the dark is not always good.

The rumor mill goes into hyper drive because we have not seen the usual s-1 disclosures so the longer you let it go, even the fantastic numbers we're likely to see will look this appointing as the shares get bid up beyond a justifiable range.

Twitter has 21 days from the time it makes this filing public to go public.

When you look at the calendar, how do you expect this to proceed?

I think we will probably see something later this week and that might get pushed back on the government shutdown.

You want to go before thanksgiving because from new -- thanksgiving to new year's is not where you want to gear up for a roadshow.

Twitter is a company that everybody feels they understand and the press loves.

One of the major value propositions of twitter going forward is to become the first draft of history.

Everyone uses it loves it.

How do you imagine that twitter roadshow will be different than other ones that have come before.

? we have never seen the books.

Maybe we don't understand everything that is going on.

Some questions will be raised when we see the numbers.

When we see the numbers, fundamental people will get nervous about double digit multiples and total revenue and there will be some pushback.

You will see real revenue and very importantly, you will see two things -- you will see a company that waited until it figured out as revenue story and mastered mobile before it went public and those for the two major stumbling blocks that slammed into most famously facebook.

Max wolf, thanks so much.

We will watch every day to see the revelation of the twitter s- 1 filing.

The hit show" breaking bad" has come to an end but what does that mean for amc?

? welcome back.

China mobile, the biggest mobile carrier in the world, has about 750 million subscribers meeting at outnumbers any u.s. carrier several times over.

That's one indication of the size of asia's mobile market which eclipses the rest of the world and shows no signs of slowing down.

It is also why apple is working so hard to get the iphone on china mobile.

This is a look at china mobile by the numbers.

For more on the growing china mobile market, we turn to cooliris.

The company has been partnering with chinese companies since last december to grow its mobile user base.

Last week, it announced a new partnership with baidu, the largest chinese search engine which will allow over one million users to store photos using their mobile app.

Joining us is the ceo and cofounder of cooliris.

These chinese deals are pretty big.

How are you making this happen?

It has been about reaching out and making connections to the people there.

When we got together with the baidu team, we got excited about and binding our user experience with their clout infrastructure.

Plenty of social media companies have tried to launch in china and have felt like facebook and twitter.

How do you handle the regulatory and political issues that come with operating in china?

It has been easy to work with partners there.

It has really been a smooth ride to work with them and distribute our product and market it in china.

Yet facebook and twitter are blocked in china and those are two of the primary social networks.

How do you get around that?

In china, we have a specialized version of the application that demises services popular in china so you can use baidu in china.

Don't you block twitter and facebook from your app?

We work within the ecosystem in china.

You can access the services native to china.

How does the app work?

You can use it on the web or install it in your mobile device and you can pull your media into a single place and make a private group with your friends and families.

Does it matter -- twitter has clamped down on third-party apps.

Would that impact you?

Our partners have been helping us integrate with their apis''s. we are the first mobile applicatiopn to integrate withbaidu.

The next up is to make a more personalized experience for chinese users.

Cooliris, thanks for joining us.

" breaking that" came to in and that is their life left in the show for amc?

? welcome back to "bloomberg west." steve ballmer from microsoft is well-known for his emotional emotional and passionate speeches so his comment at his final company meeting was no different.

Here is a clip up tame of what he's -- obtained to what he said to employees last week set to the final song from " dirty dancing." it's not about any one person.

It's about this company.

It's about a company that is important, it's forward thinking, it's innovative, it's ethical, it hires great people and let's them lead great lives, it helps people around the world realize their full potential.

It's my whole professional world.

Microsoft is like a fourth child to me.

Children do leave the house.

And this case i guess i'm leaving the house.

He got pretty teary.

He is retiring within a year and the search for a successor is underway.

Last night saw the end of the road for the amc hit " breaking bad." what does this mean for amc?

Jon erlichman has more.

Before people turn off their tvs, no spoilers.

This is a spoiler-free segment if not everyone has seen this.

I have not seen it yet either.

Amc executives have been getting questions about life after "breaking bad." they say we've got a lot of shows on the air that are doing just fine and they will carry the load and a few in our back pocket with and could be breakout hits.

Let's talk about the shows we already know.

"mad men" has been on for quite some time and they turned the last season into two so there are two more seasons they can have on their slate.

" the walking dead" is their biggest ratings hit.

As for what's to come, they have a new showed tied to the pc boom of the 1980s. they have a spin off of the " breaking bad" series.

This strategy of going after originals has helped them drive advertising revenues and re- transmission fees over the last few years and that's why you have seen of financial picture that has gone from annual revenue of $1 billion to now $1.5 billion.

Even though the series is technically over, can i still make money in posterity?

What has been and justin about this series is that it has built in audience over the years.

It goes through netflix and other services and some people are still interested in learning more about " breaking bad" because everyone talks about it.

That benefits amc when people watch old episodes.

One thing they have done with their business is to own more of it.

This is a show that is produced by sony.

If you think of a show like "the walking dead" which they think is a long shelf life, they have their own studio that produces that program that may open the door to future revenue.

Jon erlichman, thank you.

It is time for "on the markets," a look at what is moving the markets.

Julie hyman is in new york.

Let's take a look at stocks because we have seen a decline based on a possible government shut down but we have come back from the lows.

There was a report that the republicans may be considering some sort of one week stopgap measure and we will continue to check that out and give you the latest of elements.

Regenron pharmaceuticals, it is hitting an all-time high.

Piper jaffray raised its price target for the stock and reiterated its overweight rating after it got positive data for its drug that treatsedema and we are watching jcpenney.

They are treating daisy -- they are trading little changed.

The latest downgrade on the stock is coming from the maxim group and the stock could finally be settling around nine dollars which is the price where they offered shares that management still has a lot of work to do to convince shoppers and investors it can turn the company around.

We will be back "on the markets" in 30 minutes, more "bloomberg west" after this.

? . . this is the early edition of "bloomberg west." now for your top headlines.

President obama says he had a candid conversation about iran, egypt, syria and other topics with benjamin netanyahu at the white house today.

The president says he told netanyahu that he must test diplomacy regarding nuclear programs in iran.

Netanyahu is voiced skepticism about iran's motives for reaching out to president obama.

Dozens of people have been taken to hospital after two trains collided outside of chicago this morning.

Reports say an out of service train crashed head-on with another train parked at a station in forest park illinois.

And market cuban goes on trial today on civil insider trading charges.

The sec accuses the dallas mavericks owner for insider information when he sold 6000 shares of his website in 2000 four.

He avoided $750,000 in lawsuits.

Mark yuen says he did not thing wrong.

-- mark cuban says he did nothing wrong.

The next move is in the u.s. senate, our chief washington correspondent peter cook has latest from capitol hill.

Any signs of a deal, yet gekko there is the percolation's that perhaps temporary deals -- we have talked that senate republicans are floating the idea of a one-week temporary spending bill to give people more time to negotiate.

No word yet on whether that would be satisfactory to democrats.

It is something we are following closely.

The senate is about to go with the session and that is where harry reid, the senate democrats, the saving will do a promise.

-- democrats, say they will be doing what is promised.

Many on capitol hill do not like democrats or republicans.

They want eight clean spending bill when they meet at 2:00 eastern time.

The president says he is not resigned to the notion of a government shutdown at midnight tonight.

The senate has passed a bill that keeps the government open, does not have a lot of extraneous issues to it, that allows us to then negotiate a longer-term budget and address a range of other issues, but ensures that we are not shutting down the government and we are not shutting down the economy at a time when a lot of families out there are just getting themselves out of the whole of the financial crisis.

Taking to the floor this morning and challenged the senate what it houses done.

Collect the senate decided not to work yesterday.

If there is such an emergency, where are they?

It is time for the senate to listen to the american people just like the house is listen to the american people and pass a one-year delay of obamacare and a permanent repeal of the medical device tax.

John boehner has his own meeting behind closed doors with republican congressman to find out their next move.

We are already seeing the impact of a potential shutdown here in washington.

He have word from an administration official that there would be no jobs report if the government is shut down on friday.

That is a piece of news for those in the financial markets.


Peter cook, air chief washington correspondent.

Thank you for that update.

10 hours to go until a potential government shutdown.

Turning now to education, betting big on science pivot venture capital firm recently bid $11.1 billion in academia.edu.

Former google and facebook executive ben ling will join as the board of directors.

Why in vest in this company?

I am joined by richard price, academia.edu founder.

The goal is not just to share but to accelerate research.

The broader context is tried accelerate science.

Whether it is curing alzheimer's or parkinson's or hiv or moving outside of the disease rome -- aziz realm, they are interested in fossil fuels -- diseasse realm, they are interested in fossil fuels.

The fundamental scientific processes much more efficient.

I spoke about this, he is into black swan ideas.

If they succeed they could change the world.

Do you see yourself as a black swan?

I think the goal of academia.edu is to get every science pdf on tehhe internet.

If i'm a researcher, why would i want to publish my research on your social network so that everyone can read it yet though why wouldn't i wanted to be in the new england journal of medicine?

You probably want both.

You want to publish in an e xisting journal system.

Competitions are at an all-time high for grants and tenures.

It is not enough to say i have been published, you also have to demonstrate impact, how many people have cited your work, how may people have read your work.

We provide metrics that give you a sense of, oh my god, i have all of these readers around the world.

I can basically sign up for this for free and have access to all of these urinals?

-- all of these journals?

So how do you make money?

Right now we are in the scale building phase of the company.

There are a lot of companies attacking us.

Our goal is to help surface science breakthrough.

Every month you have 50,000, 60,000 medical papers published.

Which ones are the diamond in the rough?

Can you give me some examples or an example of a diamond you found?

Just a few months ago there was a phenomenal story of a 16- year-old kid from maryland who was sitting in class one day and had this breakthrough idea for a test of pancreatic cancer.

His test was 26,000 times cheaper and 400,000 times more sensitive.

He was not really advanced for his years but he had a breakthrough idea when sitting in class.

He brought fresh thinking to a field of pancreatic cancer, had eluded the established scientists.

Is that going somewhere?

It is.

Test in the lab, it is interesting where it is going.

How many other insights can be harvested if we open up to the 2.5 billion people in the world that have access to the informatics -- to the internet?

Fascinating stuff.

Richard price, the founder and ceo of that -- of academia.


Move over facebook and linkedin and we will tell you how the nsa is sick really running one of the most sophisticated social networks out there.

--the nsa is running one of the most sophisticated social networks out there.

This is the early addition of bloomberg west.

Documents obtained by the new york times, the national security agency has been exploiting its huge collections of data for social connections.

This graph was created in 2010 and help the agency discover and track links between television targets.

Cybersecurity for bloomberg news -- it is like revelation after revelation.

Was this particularly surprising?

What we are learning more about now is the degree to which nsa uses the metadata surrounding digital communications.

They do not need a secret court order to actually manipulate this data.

What they're doing with that creating a social graph.

They're using all this information that they can acquire fairly easily so the mated data of a phone call, -- the mated data of a phone call, and transactions -- metadata of the phone call and transactions, it puts to shame with facebook and google does.

When you think about what the nsa is able to acquire, legally, they are able to create a very sophisticated social network that just puts to shame any of these other -- aside from facebook thing and google, what is the source of this information?


The primary sources are cell phone providers and e-mail providers.

One step i saw was that the nsa is acquiring over one billion phone records per day from one company alone, an unnamed wireless provider.

Billions upon billions of records.

You can piece together a really detailed profile of a person if you know who they call, who to transfer money to, where they fly, that of the whole ballgame.

There are some rules that exist.

We do not know if they are followed.

I hesitate to say they are exploiting a loophole in allopathy are pushing the law as far as it possibly can go.

There was a supreme court decision in 1975 but said that americans phone records is not protector -- in 1995 that said americans'phone records are not protected.

You think knowing who i call is knowing almost as much -- who i call is a must as important as knowing what i said on that call.

There are some rules but back in 1979, mated data met one thing, telephone information.

-- metadata meant only one thing . clock still ahead, apple takes the crown from coca-cola as the world's most apt -- still ahead, apple takes the crown from coca-cola as the world's most valuable brand.

Facebook is joining twitter in supplying data to tv networks.

They spoke will start sending weekly reports of the four major broadcast networks according to the wall street journal.

The report will show how ray likes comic's -- likes -- show how many likes, comments, and shares a series is getting.

Apple is now the most valuable brand him according to a new report released today from interbrand, a corporate identity brand consulting company owned by the omnicom group.

Coca-cola had held the top spot for the past 13 years.

Google came in second.

Don ehrlichman is back with more.

This report estimates the value of apple's to be a whopping 98 point $3 billion, which is up 28% from last year.

-- $98.3 billion, which is up 28% from last year.

Why do you think it is a bigger brand from coke?

The way we start looking at france starts with earnings.

We on -- with randomness -- looking at france starts with earnings.

You can see people waiting for the new 5s and 5c. the demand is clearly there.

They really do spend a great arm in terms of how to grow a hit brand from the experience you have on their products to the experience you have inside their retail stores.

They are a great -- they are great and really set the bar.

That does not mean that coca- cola does not own a fantastic business.

Google is seeking in between them and apple to be the new number two.

What are the biggest factors that go into determining if the brand is worth more than 98 billion dollars?

There are three elements we look at.

The first is earnings, the heart of this.

What we're trying to do is demonstrate how much money the brand actually makes for the business.

We start by looking at the earnings stream.

We use things like bloomberg for the same things as all the other analysts use.

How important is it in the purchase process?

The third is what we call brand strength, which is taking a deep dive into loyalty, looking at 10 different factors that determine how far into the future it brand might be able to deliver earnings for that owner.

You have at least a half dozen technology companies on this total list.

Compare hominy technology names have take, very powerful brands -- have big, very powerful brands today versus five years ago and you can see it on the list.

If you take a look at the top 10, you have apple and google at the top, with ibm, samsung, ge.

At the same time we have two very well known tech companies dropping off the list.

Blackberry dropped off this year as well as yahoo.

Household names like nokia have been having really tough times.

We all know they have just been bought by microsoft.

Their brand fell by almost 60%. also nintendo.

It is not an easy game.

You can be up and quickly be down in the world of technology.

Before we go, coca-cola had a 13 year run at the top of your list.

How long do you think apple can stay number one?

That is a very good question.

As we know they are locked in a battle with samsung for the smart phone market.

Samsung playing the long-term game, perhaps with more ultimate issue.

Apple having tremendous service capabilities, which gives them an advantage in the long-term.

Then you go through google, facebook, and twitter next year.

It is not going to be easy for them to stay on the top.

We appreciate the insight.

Emily, back to you.

We'll have more of "bloomberg west" after this quick break.

Looking back, i'm emily chang.

Coming up on the later edition of "bloomberg west," facebook and twitter are fighting for your tv.

Find out why two of the biggest social media players are turning their attention to the tv networks.

And it is 56 past the hour, which means bloomberg television is on the markets.

Julie hyman is in new york with more.

Thank you so much.

All eyes are on washington when it comes to people watching the markets.

As the government stands poised for its first partial shutdown in 17 years -- with the deadline set admit that tonight, markets are starting to reach for budget/is.

-- budget slashes.

Here is what to expect.

The big story is the debt ceiling.

This does not bode well for a debt ceiling crisis by mid- october.

That is why the word -- why the markets are worrying.

We could become king about it possible default.

Markets are -- could be talking about a possible default.

If we don't resolve this, then you're going to start seeing some activity in the market that is going to cause some harm to people here.

It is the best interest of the political system to function.

This is going to shave off something in the gdp in the fourth quarter.

Unquestionably it will weaken the overall economy.

Number two, far more ominously, if we even talk about the default, if we come within a day or two of default, that is a terribly negative story for the overall economy.

Everything is different when you have this subpar recovery with two percent growth.

You feel it more, you just feel it more.

I think this is a much broader issue than just a government shutdown.

We have somewhat policy and uncertainty.

At the end of each year we have hundreds of tax provisions that may expire or may not expire.

There is a lot of uncertainty, not just around the regular debt ceilings but around our regular tax environment.

Stocks don't tend to react well in times of uncertainty.

Let's take a look at how markets are doing today in the face of all of this.

The consensus that greg valliere summed up is that folks are more worried, investors seem to be more worried about a potential debt ceiling debate than they are about this potential government shutdown.

That said, because of the difficulty congress is having come into an agreement on its spending bill and with parts of obamacare up for debate and contention, there's not a lot of optimism going into the debt ceiling debate.

We are trading lower today across the board.

We have come off of levels.

Politico just reporting that there are republicans trying to put together a one-week stopgap measure.

We did see stocks rise to highs of the session on that.

Let's take a look at the treasury market.

We are seeing a little bit of a rise in yields as some investors are betting that a shutdown, if it does happen, might not last long.

That is what is going down in the markets.

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


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