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tv   Bloomberg West  Bloomberg  May 30, 2014 1:00pm-2:01pm EDT

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>> live from pier three in san francisco, welcome to "bloomberg west," where we cover the global technology and media companies that are reshaping our world. i am emily chang. ahead, steve ballmer has reached a deal to buy the l.a. clippers for a whopping $2 billion, shattering the record for an nba team. trust allowed be fell after donald sterling was banned from the nba after making racist comments. bomber has vowed to keep the team in l.a.. spacex seven will be able -- ballmer has vowed to keep the team in l.a.
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to have al be able reusable dragon capsule. reversingnership slumping sales. the company just launches brand-new mario kart 8 game and players will be able to drive a mercedes for the first time. nintendo's mario or her also appears in a mercedes commercial in japan as nintendo tries to make more money from licensing. of the day -- steve ballmer have something new to get excited about and retirement. the former microsoft ceo known for his emotional speeches during microsoft events, jumping up and down, has reached a deal to buy the l.a. clippers for $2 billion. that shattered the record for an nba team. 550previous high was million dollars pay for the milwaukee bucks this month. in a statement, ballmer says -- i love basketball and i intend to do everything in my power to
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ensure that the clippers continue to win and win big in l.a. signed the agreement with the sterling family trust, which moved to sell the team after owner donald sterling was banned from the nba for life or making racist remarks. the big question here is -- did ballmer overpay? the clippers always been second fiddle to the lakers. our senior west coast --respondent jon erlichman thank you so much for joining us. first of all, what kind of an owner is steve ballmer going to be? >> i cannot wait to see the clippers play the mavericks to see cuban out jump ballmer or ballmer out jump cuban on the front row, and that is what this is all about. these are people of billion to want to sit in the front row. he just bought a two -- a front row ticket for $2 billion. he promises to keep them in l.a. jon, do you believe him?
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he lives in seattle. >> oh, definitely. people are excited about this. financially, it would make no sense at all for and to try to move the team, and that has a lot to do with the financial power behind having a team here in los angeles with a tv rights deal that is expiring after the 2016 season. we saw when the doctors were acquired for a huge price tag. they were able to turn around and cut a huge tv deal. a new channel where there is a huge opportunity to make some money, and i think that is how you ultimately get to the $2 billion price tag. oflarry ellison, the ceo oracle, try to buy the team. >> he is now zero-for now, right? >> what do you make of tech people getting into -- >> i do not think this has to do with micro. this is about micro and it is about buy-in highballs. i totally agree you are by a bl a market. they are not going to seattle. this is an incredible move
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forward. this was speed dating in franchise. i talked to a sports investment banker today and he said he has never seen anything like this. donald sterling goes off the deep end, and two or three weeks later, it is done for $2 billion. about asset appreciation. sterling -- 9100%. when is steve ballmer going to realize a 9100% asset appreciation? tt is worth wha somebody paid for it. it is like art. he is now a member of an exclusive club, and he has been trolling for an nba basket while team for a long time. >> can we put out the irony here, jon, that donald sterling probably made more in this deal then he would have had these remarks not been made public? >> absolutely. and he just said it -- this happen so quickly. it is like any hot piece of property. people have to get their bids in quickly. generally speaking that
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means a higher price. i agree that he out more as a result, assuming everything continues down this road, then he would have received otherwise. not to say that steve ballmer is overpaying because, as i mentioned earlier, when this new tv rights deal is worked out, all of a sudden we may say hey, that is kind of interesting. all of a sudden the clippers of a mass amount of cash flow coming their way. >> do you think the clippers can take on the lakers, and the y> ? >> the verticality of the clippers may be greater than the lakers. >> what do you mean about verticality? how high they can jump? >> the lakers on that town, the dodgers on that town. this is spectacular. do not say full of it. >> full of the one-liners.
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>> let's put things into perspective. yesterday, apple -- or the day before -- bought beats by dr. dre for $3 billion, so we all go crazy about $2 billion for the clippers. a headphone company -- $3 billion. >> jon, what are fans feeling like on the ground? are they more excited about the clippers whenever? you think they can take the lakers supremacy? >> no, they cannot, this is a lakers town, but people are excited about steve ballmer. people are asking if he will live here, and see that suggested he will spend more time here. to andy's earlier point, the cuban-ballmer games, those are the ones to watch. >> certainly some fun games to come up. >> let's wait for the next chapter. former dolich, president of the golden state warriors, and i was our senior west coast correspondent jon erlichman in l.a. do any of the little guys in
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tech to really have a chance to disrupt the giant? that is next. you can also watch us streaming on your phone, tablet, and at, apple tv and amazon fire tv. ♪
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>> welcome back to "bloomberg west." i am emily chang. google is taking steps to comply with the european search to remove certain links. google just removed its online form. google will then review the request. the search giant also said of a committee to advise on the court's decision. and with us now, been laying, a former senior at google who had executive role that youtube and facebook, he has individually invested in over 80 companies today. ben, thank you for joining us.
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i want to ask about this right to be forgotten that is u,ppening in the e obviously articles about you and me make up the backbone of local's business. do you think this will hurt them? >> goal has always taken privacy to consumers very seriously. >> you went from facebook to google, which is almost like the reverse -- >> i was at google for us, then facebook accrued me, and i went back to google after that. i went for youtube. youtube, as you know, it's a huge online video destination. at the time, it was not besides that it is today, also it was a huge opportunity and a great time to go. >> you have been a venture capitalist for a year, but you investing personally before that. where are you placing your bets? >> consumer side, mobile market with data -- >> what are the trends that are exciting? >> one thing that is obvious to everyone is mobile. one of the things you see more and more of its consumers expecting the mobile device to
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theirote-controll for life. click on anything and expected to arrive. thing is mobile commerce starting with a food order. you and i are attending class, we are hungry, i order using the app, and we go to calculus class, i skip the line. i pick up my food, and you are waiting in line for a few minutes and you say how did he get his food. what happens the next day? you use tapingo. it is on college campuses like usd, santa clara -- >> what happens when everybody is using it and they'll skip lines? they use ite, everyday. what happens here is they increase efficiency for everyone. the average order value goes up, total revenues go up, and then also the students are extremely happy with this. this is a trend we are seeing.
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another mobile commerce we are excited about is called the hunt, and it is a visual search company starting with search with women's fashion. i say i love it, i say where did you get it, women take photos from pinterest, facebook, instagram, so on and so forth, and put those photos on the hunt and they say where can i find exactly something that matches is out the door is like this outfit, and team members go out and find that i don't. >> -- find that outfit. >> a guy who is famous for his investment theory and investing in black swans, how does your investing strategy to align with his? >> i like companies that had very good initial market traction and have the ability to be a breakout success. that generally is our theme. >> having worked at google and facebook, you're trying to find little companies that can disrupt these big companies.
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is there anything that can really disrupt facebook at this point? what are the chances? isi think the question here about innovation generally. when you look at innovation and disruption, it comes from a place you least expect it. we're listening to get companies that are strong for consumers, with the opportunity to expand. >> so 10 years from now, aren't facebook and google as dominant as they are today? >> just like you see microsoft as dominant, google is dominant, facebook is dominant. you will see every one of these cycles, a new goliath emerged. >> who is an up-and-coming goliath? >> one of the proposed companies is square. >> square has been facing a lot of challenges lately. >> they have done really well. from a merchant standpoint and getting consumers adoption with a variety of new products that, i would bet on the company.
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>> how big do you think they will be in mobile payments? >> time will tell. >> all right, ben ling, partner at khosla ventures, thank you for joining us. we will speak with the man mc's new show. and remember, you can also watch us streaming on your phone, tablet, and at, apple tv and amazon fire tv. ♪
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>> welcome back to "bloomberg west." i am emily chang. space says it will be able to
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carry astronauts into space within two years thanks to its ecraft, thed spac dragon v2. it will be able to carry up to seven people and have for tons of cargo. here he is sitting in the cockpit. >> so we have aimed for thething, version two for interfaces in the overall aesthetic, something that is very clean, very simple. 's musk says it is spacex intent to deliver astronauts into space for less than $20 million. currently the cost is as high as $76 million a piece. hitsas had a string of with "madman," "breaking bad," "the walking dead." now the network is banking on the rise of the pc era. "halt and catch fire" is set in
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texas after the ibm corner is pc market. ,"u have been watching "madmen then you have seen many commercials for "halt and catch fire." we spoke with creators for the show started by asking where the idea came from. >> my father, who moved our family down from chicago to dallas, texas when i was about six weeks old for an opportunity in computers. he started working in system software in the early 1980's, and then from there i watched his career evolved from system software to application software to the internet, then finally to security software, and about two weeks after he retired, in the mid 2000's, i had already graduated from college, his company was acquired by ibm, so ibm was really this presence in his career life and also our personal lives where it was always knitting at the heels of what everyone else was doing in texas. >> and i think the writers in
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los angeles are kind of looking we were chris and i met working together in social media at disney and we were kind of getting increasingly interested in the role of technology in our lives, you know, whether it pushes us farther apart, how it brings us together, and we thought kind of the genesis of that story was 1983 and the rise of the personal computer, and we saw an opportunity and what was happening with engineering to kind of tell people the story they did not know thomas anytime you can kind of find out, that is a pleasure for us. talk so much about silicon valley and silicon alley and we talk about silicon beach, but you are focused on silicon prairie. tell us about what was happening at that time. >> silicon prairie really deals of area between dallas, houston, and austin, and topaq was the first company reverse engineer the ibm pc, and they were out of texas.
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michael dell was willing computers in his dorm room at the time. we also at texas instruments, which everyone is familiar with. there is speech centers of there isechnology -- ationh synthesiz technology, and then the ibm-compatible machine that was sold at the market, started by the man who created to radioshack. >> we can play this to the end of the line where people have come out of these other traditional tech hubs, kind of came for their second chance, their last chance, and in a lot youays that is always what are looking for. people seeking retention, to do right where they have failed in the past, and it gave us the opportunity to do a modern western. so many tech been themed stories, movies about
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mark zuckerberg and steve jobs come in now a show about modern-day silicon valley called "silicon valley." how do you think the themes and all that material compares to the themes of you exploring your show? >> i think that the themes are very similar across the board is really about humanity cozy relationship with technology, and when chris and i first came up with this idea, we wanted to tell a story of how do we get to where we are now? there is no going back. technology is completely in our lives, and what does that mean? what is that symbiosis look like? as we look back through history, personal computing really seems like a watershed moment where we could explore that relationship, and the flavor is different from another show or another movie, but the parable seems to be always the same, which is -- technology,ates the but technology is a reflection of humanity in all of its
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imperfections. >> and i think we are becoming increasingly aware in our modern age to the effect of the individuals who made these things, per the personal imprint into the machines. i think we see the great creativity of steve jobs in the apple products, and "the social thatrk" and movies like show you mark zuckerberg, his demons and his brilliance into the facebook product. that is the way we want to cash in a way that our heroes, but our frictional company, they care about their company and products even in 1983. record sound like you have gotten approval from people -- >> it sound like you have gotten approval from people in the business at a time. some of the feedback that i've heard from people who have seen it is they are impressed. is that feedback from people who are currently the influencers in the world of technology -- is that important to you? is it important to be potential success of the show?
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>> i think so. i really love that people are responding to it in that way. people who are working in technology now, people who are not as milieu with the history of how we got here are looking at it and feeling like it is plausible, feeling like it is real, and that way they can appreciate the drama and enjoyed the story that much more. itself hasandwork changed, but the dilemma is on a human level. can you have work-life balance? can you iterate something fast enough to get it on the market before something else completely eclipses it? am i a visionary or am i a fraud? the challenges on a personal level are kind of timeless. i think we are finding a modern audience is can still connect. >> chris cantwell and chris rogers, creators of amc's new series "halt and catch fire" with our jon erlichman. coming up, with the massive growth of chinese social media
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companies like weibo, will internet censorship in china and anytime soon? you can also watch us streaming on your phone, tablet, and at, apple tv and amazon fire tv. ♪ >> it is 26 past the hour, which means bloomberg is "on the markets." i am matt miller. take a look at the indexes as we near the end of the trading session on this friday. just a couple of hours away. use the red arrows across the board after an investor was disappointed by some consumer spending figures, but still, 1918 on the s&p 500 ain't bad. one stock we want to highlight bidt now, hillshire -- the is on. tyson made a bid to buy hill shire, which would make it one of the top bids. it topped pilgrims pride by five dollars a share. hillshire's stock is trading
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above the $50 per share offered. optimism that an even higher bid may be coming along. "bloomberg west" is coming right back on bloomberg television. ♪
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>> you are watching "bloomberg west," where we cover innovation technology and the future of business. i am emily chang. bloomberg top headlines. it appears that a class action lawsuit will go to trial on july 14 over apple's alleged e-book pricing. it had challenged the decision to give the case class-action status, but a federal court in new york has rejected that challenge. apple is still reeling over last year's ruling that said apple violated antitrust laws in its contracts with th e-book publishers.
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twitter is nearing head fry steps down. ceo dick costolo has made no secret of the fact that he wants to speed up product innovation. and facebook ceo mark zuckerberg and his wife, priscilla 10, make a major donation to schools. $120ouple is donating million to low income areas are here in the bay area, east palo alto and parts of san francisco. the zuckerbergs previously donated $100 million to schools and new work, new jersey. chinese internet companies go global, the internet remains uncensored at home. how fundamental has the internet become for chinese citizens, and how much of a particular chinese communist party is it? joins us, he is author of a new book, "age of ambition: chasing fortune, truth, and faith in the new china." a longed in china for time, you cover china for a very
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long time. use all many of these changes firsthand. one of the most interesting things about this book and having lived there myself, you story oft china as a contradiction. the chinese government has fostered the internet. at the same time, it has censored the internet. how has the internet in your opinion changed chinese society? >> we think that the internet has changed our lives in america. it is even a much more transformative for an average chinese citizen. if you think about it, somebody living in the countryside before did not have the transportation, the technology to feel connected to other people. all of a sudden now you go online, you have that half of the population on my today. that means we are only halfway to the end of this story. it has gone up 60% in the last or years. it has changed the way people think about themselves politically, economically, socially, how do you get married, have you spending -- how do you meet the people you want to spend a life with? >> is that something, the
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censorship, that will ever in our lifetime? its two thingsts face-to-face. china is growing enormously fax but censorship is a fundamental fact of the little system today. the communist party believes that they need to limit information if they're going to count on political survival, so i think what we can expect is that they may mess around with the edges, they may allow certain topics like pollution, for instance, to become a subject you can discuss more freely, but fundamentally the political system is based on the idea that information needs to be controlled, so i do not expect they will relinquish that. >> do you think the internet can challenge the communist party in the longer term? can the internet bring democracy to china? >> i think that is probably too much to imagine that it will be a fundamental force against the political party. the truth is it has already exerted enormous pressure on the government, forced them to respond in a way to public pressure that they did not have to before. they go online every day and they use the internet in effect
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as a kind of intake is only to understand what people are saying, what they care about, the issues on people's minds. i think in the end, the communist party realizes that the internet from their perspective is a threat. they see it as a threat. for that reason, they will keep it under very close watch. it will be a hard road. >> what about facebook and twitter? you are visiting and advising those companies while you are here. you think those companies will get unblocked in china? if not, what has to they had? >> i do not think they need advice for me, but one thing they do know, and they are being very smart, is a recognized the future for facebook and twitter is a long game. it is not a short game. they have both been over there a lot, they have seen in the short term that there is potential for them to get more chinese businesses advertising on their services in the united states. that might be the beginning of a long-term relationship. but at the moment, the chinese government does not see any political incentive to change their ban on those two. >> at the same time, the chinese counterpart, weibo and others
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are getting bigger and bigger. are they true equivalent of what we have in the united states cap ? like they are not. you have been there, you've seen them. they are a composite of sorts. weibo has elements of twitter. we have misjudged how idiosyncratic chinese tastes are. there's something about weibo and others -- they are very chinese products. they are also responsive to the chinese government. as a foreign internet company, from the chinese government's perspective, it is better to boost and allow a domestic better than to allow a foreign one. quite do young people kerry echo one of the things i learned is that many students do not care at all about politics? they care about censorship? -- do not care at all about politics. do they care about censorship?
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wife they do. they can complain about the fact that they cannot get a job or local, political issues. i find it hard to then realize what you mean i cannot complain about the central government? in a sense they have required acquired the experience of skepticism, and they love it. if you're a young chinese person today, you have to distinguish yourself by the force of your opinion. that is one of the ways that you get ahead. it also means it puts them into contradiction with the state. it is an interesting moment where the young people in china are raise with a different set of values than their parents. xd you think these chinese ibaba, thatike al about bu is about to go public in the u.s. -- baba has every intention of being a global competitor. products are not necessarily translate to china. it would take were to get the
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alibaba product to work in the u.s. so many chinese citizens. will this be published in china ? >> it will be published in taiwan. >> all right, evan osnos, author of "age of ambition," thank you. about how find wearable devices in social media could become a part of your outdoor experience in our series of the "great outdoors," next. ♪
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>> i am emily chang. "bloomberg west."
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we are looking at tech and the great outdoors from wearable devices to social media sharing. some of silicon valley's hottest inventions could play a big role in hiking and camping. i am joined via skype from seattle, michelle works with outdoor product brands to pick the products rei sells in its stores. michelle, thank you so much for joining us. for a non-camping person like me, what are are some of the high-tech products that would make my experience easier? >> like you said, emily, it is all about taking technology into the outdoors. some of the really cool products out there right now at rei are ight stovee our biol where you can cook your meal and charge your smart phone or device at the same time. pro helmet cameras a great way to capture your memories and share them with friends.
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those are two great products that we have out there right now. >> and you were pretty instrumental in pushing the gopro to be sold in stores. why is that, and how is it actually sold? gopro have aand long-standing relationship dating back to 2005. the companymera, continues to innovate every year, and that is what we love about them. the cameras are super light weight and more compact than ever, and they have great mounts that allow you to mount the camera on your boat or on your body and let you capture your experiences while you are having them. they just make it really easy. >> so in general, how would you of technology has changed the way people experience the great outdoors? >> well, it was only a few years ago that we would talk about the fact that our customer would
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disconnect when they get in the outdoors, and that is not the in theple recreate outdoors anymore. they stay connected in a lot of different ways. is wearable technology that allows you to navigate via gps on your height and also ck your calorie count, your vertical feet. another really fun way is after you have been outdoors all day and you want to cozy up in your there areag, organizational opportunities to , likeovies in your tent entertainment from big agnes, for example. it is making it easier and more fun. >> when you look ahead, what is the next gopro? what is the next generation of high-tech outdoor equipment? >> it is really about multifunctional devices.
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everyone is looking for that single device that will do it stoveo i mentioned the that has dual functionality. i think we can imagine that same stove, you can cook your meal, you can plug your smartphone in and probably light up your camp and play music at the same time. so it is really the proliferation of a multifunctional tool. >> just curious, when you venture out in the great outdoors, what are your must haves? [laughter] >> well, i love to have music around the campsite. there is always a great facilitation for fun with your friends. there is a great speaker system that you can pair with a solar powered battery pack and you can listen to music for your entire weekend. that is one of my favorites. greaten i always bring comfort item. right, good to know, rei
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general merchandising manager michelle orr, thank you so much for sharing your express with us. still ahead, super mario is back, and this time he is driving a benz. nintendo is counting on a cell of mario kart 8 to revitalize its business. plus, you can also watch us streaming on your phone, tablet, and at, apple tv, and amazon fire tv. ♪
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>> welcome back to "bloomberg west." i am emily chang. nintendo is counting on an old friend to boost slumping sales. the game maker is bringing super mario kart back, this time in a mercedes. mario kart 8 was released today,
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and bloomberg's matt miller was at the nintendo world store in new york. did you get to take a test drive? >> i did. i test drove the new game for hours, in fact. he mercedes element is only in japan, but it is very interesting. nintendo wants to branch out and find new sources of revenue, for what they're going to do is start selling the services of their character, so to speak. so mario in japan does mercedes advertisement where he gets out of a new mercedes gla and stepped on an evil much. they also have a mercedes that you can use in the game in japan. it is not in the u.s. for june and they would not tell me if they have any upcoming partnerships here in america, but they do have a really fun 8th version of this sort of old favorite only for the new console, but it is very interesting. it adds to the lineup of the games they have built so far for the u. >> do you think mario can help save nintendo? well, nintendo -- it is
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really a sad story if you look at the profits over the last 5, 6, seven years. this is a company that used to make billions of dollars a year and now they are losing hundreds of millions of dollars a year. you can see a big loss this year, lost half $1 billion in 2012, but they used to make for years, 20 years solid every year, 30% margins, some years even more. what they are hoping to do now is sell more of this wii u console. they sold 100 million of the goodnal wii, and it was so that people figure -- why should i bother getting a new one? but it does a lot more graphically, a lot more than you might expect from nintendo. it may help to boost their stock price, which has come down to 15% this year. if you look back at the last 10 years, just flat. absolutely no movement. as far as the shareholders are concerned, this is sort of the great white hope. it is the one thing they hope
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will give people to go out and buy the new console because you cannot play it on your old wii. matt, anda gamer, super mario brothers is a game even i played. wi-fi was going to say, even non-gamers lay mario. >> right. >> especially mario kart. everybody from the age of four to the age of 94 can pretty much understand it, and that has been kind of the appeal. if you look at, well, since video games were invented, mario is the biggest selling franchise of all time. i think it has sold almost 500 million copies of some kind of mario game be at super mario world or mario kart. contributely have about 100 million sales in copies to that franchise. or callestroyed pokémon of duty as far as unit sales. nothing else really comes close to it. bonus.s been the big
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they do have a harder game. i did play super mario 3d aday on the wii u, i played bit of the donkey kong game, but it is really a step forward that a lot of people would be surprised to find from nintendo. if you go into the store, you will figure it out. on the other hand, it is not the kind of game where you shoot and kill people the time like all of duty or titans fall, so maybe a little safer for the kids. >> did you enjoy it? what was your favorite? ofi was playing all kinds video games today. i think i had most fun playing these on the con game, but the fun of mario kart is playing against other people. it is the competition. you can play with four people just like you had in the previous with your home console, be confined onto their online game, their version of live, and then play against 12 other people, the uke and have really big rallies in mario, and i think that would probably be the most fun. >> all right, matt miller. >> i challenge you, jon
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erlichman, and cory johnson to a four-way game of mario kart. >> i'm going to lose. is it ok if i surrender? >> i will let you win. you could be the princess. >> all right, matt miller in new york, thank you. it is time for the bwest byte where we focus on one number that tells a whole lot. jon erlichman is with us from l.a.. john, what have you got? isbased on what method, it 1.7 million, it always brings me great pleasure to present you with fun friday bytes. more than 1.7 million views for a youtube video that brings together the opening sequence of the hbo show "game of thrones," which i know you love, reimagined to your last segment on mario to the world of super mario. it is to geek world wrapped into one and a slick video and a lot of people like it. >> oh, my gosh, i love this video. by the way, the man behind it, nick von, video animator actually with us the a skype
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from kansas city. nick, what inspired you to do this? "game of thrones," obviously, because they're opening sequence is the best intro for any show ever. i love it. i look forward to the intro as much as i look forward to the show. i was watching and i thought man, this would be a great video and it would be so easy to do, and it really was. take a closer listen to this with the sound up. nick, you actually have a contract with the video entertainment network. did they help you make this go viral? >> no, they are sort of like -- you have an idea, you posted, and they help promote it, whatever it is. they are really open to creators to do whatever you want. you have a free pass, whatever you can come up with. the sky is the limit with them, and they help you unload it and
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sort of get the ball rolling, websitesticed by other and blogs and whatnot. >> nick, for people who do not is, it ismachinima based. l.a. and warner bros. is an investor, what is a, and what does it help to? is one of the largest youtube networks, so they find people like myself and other people who are interested in the content and they say you know, if you want to join our network or our youtube channel, then we will help promote your videos, we will advertise on them with advertisements that as mario kart 8, all the new ones and stuff but i would like to advertise for anyway, and then they also put you in contact with other youtube users so you can collaborate on videos and exchange ideas, and they are really great at helping people who are interested in youtube channels start one up and get more publicity than they could on their own. >> nick, quickly, you are
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getting a lot of attention from the tech community. what else are you working on? >> right now i am thinking that how am i supposed to top this? arehave no idea how videos going to do or how they will react. and then this one people went crazy for. i thought in "huffington post," "washington post," "wired," i nowlike wow, that is crazy, i am on legitimate websites, like "bloomberg west," which is mind blowing to me. what is next? i do not know. you wouldn't have to subtract my channel and pay attention. whenever i come up with, i will start working on. you think wed are legitimate, nick vaughn joining us from new york city, and our senior west coast correspondent jon erlichman, thank you. inner member you can always get the latest headlights at the top of the hour on bloomberg radio all the time,
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/technology. be sure to turn in monday, live special cover the ceo tim cook. ♪
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>> welcome to "bottom line" on bloomberg television. let's go live to the white house. president obama announcing the resignation of his press secretary, jay carney. [laughter] >> as you know, his name describes his demeanor. josh is an ernest guy and you can't find just a nicer individual. even outside of washington. the country of course knows him for his golden voice and tones on "west wing week." the biggest viral internet hit since "between two ferns" but joran and i have an incredible history going back to the iowa
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caucuses. josh was my iowa communications director. and even when he was in that role, you'd find him spending an extra hour or two helping young staffers make phone calls or knock on doors. there was no task that was too small, no detail too unimportant for josh to attend to. at the white house he's been a mentor to many of the young people here who i know are thrilled for him today. he is of sound judgment and great temperament, he's honest and full of integrity and i'm sure you will at some point get frustrated with him as well. [laughter] but it's going to be hard because he's a straight shooter and a great guy. so my request is that be nice to jay on his farewell tour and be nice to josh during his initiation which i'm sure will
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last maybe two days. well, perhapses two questions. we're going to let him hang around a little bit to milk it for all it's worth. hank you guys. >> president of the united states embracing the outgoing white house press secretary jay carney as mr. obama just told us, to be replaced by josh ernest. we'll continue to follow this story, bring you more details as soon as we get them. in the meantime, to our viewers here in the u.s. and those of you joining us from around the world, welcome to bottom line d. we have full coverage of the stocks and stories making headlines on this last friday in may, 2014. yang yang discusses the galactic battle for the home of the george lucas museum. agricultural reporter has details on what's known as an orphan rain. we begin with megan hughs and the resignation of veterans affairs secretary


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