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tv   Street Signs  CNBC  June 11, 2013 2:00pm-3:01pm EDT

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yield drop down to 2.18%. massive moves in the currency markets with the dollar yen and dollar euro. seeing big moves. seen almost a 3% move in the dollar/yen. you never see that, ty. >> look at the live shots. explosions going off in istanbul. we'll be covering it all afternoon. that's it for "power lunch." >> "street signs" begins now. "a" may be apple but should the company get the c-minus on its latest innovations? we ask are apple's best innovations still to come, or are they in the rear view heror? some say bernanke is now on the back burner so we ask who is really in charge of these markets right now. plus, are the amish getting fracked over by the oil companies? a shocking report on that just ahead and the irobot ceo is here live with some incredible things robots will soon be doing. first as sue and tyler reported,
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we're monitoring the breaking news out of turkey. that is taksim square where you can see there's select clashes between protesters and the turkish police. it is nightfall there, and can you see there's a wyatt swath of people running out of taksim square which looks to be tear gas. richard engel of nbc news reporting earlier and having to wear a gas mask because of the amount of tear gas in the square. you can see the police have brought in an anti-riot dispersion vehicle, the white truck on the far left. it looked to be either flash bang grenades or fireworks going off in that square just moments ago, what you saw at the end of "power lunch." we'll be bringing you much more on these developments which have turned increasingly violent. here you go. that's what we're referring to. explosions. look to be flash bang grenades used by police to scatter crowd. don't know. trying to get richard angel back up. once in a safe and secure position, we'll try to get richard engel on camera or by phone to give us exactly why we
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are seeing the violence escalate in istanbul, turkey. mandy? >> indeed, continuing to cover that story. meantime, let me fill you in on what's been happening for the markets, a real wide ride. we erased the triple-digit losses after being down 152 points at this point, moving back down now. we're down again by triple digits. the s&p nonetheless is on pace to register gains for both the first quarter and the second quarter for the first time, folks, since 2007. that is not true for the dow, but it certainly is true for the s&p 500. let's get down to our market reporter bob pisani at the nyse and rick santelli in chicago. obviously, bob, before i get on to what's happening in the stock market here in the united states, we've been watching the violence erupting out there in taksim square in turkey. is there any kind of jitters in terms of what is happening there at emerging market and what kind of impact it might have here on our developed market? >> well, certainly, turkey is being watched, but i have to say in a broader sense it's what's
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going on with interest rates and now late in the afternoon, even with the dollar/yen relationship, that i think is a little bit more important. everybody sees explosions in turkey and gets a little bit concerned here. i want to show you briefly the interest rate situation in the last three or four weeks. since mr. bernanke gave his testimony on may 22nd, that's proved to be a bit of an inflexion point. put up the interest rates, and we've moved up about oh, 0.2% to 2.2, that might not seem like a lot for the ten-year but a fairly significant move overall. there's the move for the one-month on the ten-year treasury. bond funds have reacted to that rather noticeably. the stock market and s&p down about 2.5%, but you can see bond funds. high-yield bond funds down twice as much, over 4%. lock-term treasuries and corporate bonds have also declined. that's the day that mr. bernanke gave that testimony, and we got out some of the minutes as well. want to put up the dollar/yen
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relationship, another factor moving stocks in the last couple of weeks, and as the yen has been strengthening, that also gives gyrations to us. this afternoon, last in the afternoon, you see the yen strengthening. as this chart moves down, that's a sign of yen strengthening. that happened late in the day, and that's when we took another leg down in the market. a couple factors affecting things overall. finally, i've been asked today why citigroup is so weak. a number of people have asked me about this. well underperforming the market. you can see down there, down more than 3%. bloomberg had an article out talking about potential losses and currency exposure citing a research firm, and i think that's probably the main reason. there you see more pictures of explosions and fires in taksim square. i've been in that square. it's a beautiful square, and it's quite a scene to see that kind of -- that kind of fire in that particular square. >> absolutely. turkish riot police. looks like they are firing water cannons and tear gas into the protesting crowds.
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of course, the protests are against prime minister erdogan. i believe there's lots of police vehicle and water cannon vehicles in place around there. we'll continue to follow this story, and nbc's richard engel with his tear gas mask on, will be joining us as soon as he possibly. can we eel continue to follow that story for you and show you the turkish etf any second. meantime, let's get back to rick santelli because bob was telling us, rick, a moment ago, about the lack of new boj action igniting the further selling in bond, the yields at the highest in years. how hoy can we go? >> let's put a chart up there that starts in september of 2011, and you can see in the fall of 2011 and again in the spring of 2012 we had a double top, just a whisker shy in both instances of a yield of 2.40. i would think that's the outlier, but the fact that we've dropped down to a 217 yield
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shows to me the biggest story is what bob was talking about, dollar/yen. back to a 95 handle again, and i do think that de-leveraging is indiscriminate but if you look at southern countries in europe, if you look at equities, even our equity market, i think you just scoop a bit of it away on carried trade leverage, and is this is something to watch. i do think interest rates are important and all the fed issues are tied up with it, but in the end i think interest rates are more of a cast than the protagonist. watch dollar/yen, implied volatility, not to be fused by price volatility. i'm talking option volatility. >> you showed a 3% drop in dollar yen is a really big move in markets. let's take a look at the turkish etf. it's down by near hi 3% as welsh and, of course, we'll continue
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to follow that story. >> rick santelli, hey, it's brian. i've got a question for you. i know you guys have tvs and see what's going on. why isn't the bond market going on? when violence erupted in greece, people got nervous and the bond market shifted. what do you think is going on there? >> whether it's turkey or syria or greece, there's lots of problem spots in the world, and i do think markets are more in tune when it's clear what the u.s. may do, whose side will they be on? which side is the right side? i think all of those makes the market proactive. i think moving with respect to the market are two different issues these days. >> change us is paul hickey. we saw similar images from
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greece. what's different here? >> we've seen a selloff on the pictures, but we've been seeing this year after year in europe now for a few years now, whether it's egypt, europe. so, you know, i think selling on the pictures that you're showing on the screen right now is probably not the greatest idea because it hasn't been the greatest strategy in the past either. >> well, paul, take the other side of that as well. i mean, you hate to see this because there's obvious ly an indication that much of the world still has serious problems. >> you're exactly right. that's been our view and been our view for two years now. we want to be focused on the u.s. as sluggish as growth is in the u.s. and as mess washington is and all the problems we, have i mean, we don't have what you're seeing on the screen now, so we
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want to be focused on u.s.-based companies and more specifically companies that generate most of the revenues in the united states and that's port of the discretionary stektor, parts of health care and even some technology. >> part of reason there's so many volatility in the argument today is the fear, paul, that the waterfall of liquidity coming from around the world, might now start to try up. is that overstated and unjustified? >> the fact that japan didn't expand their qe last night, renewed worries that the fed is eventually going to step back, and the fed will eventually step back, and when they do step back, we'll see short-term pullbacks like we do every time after a period when the fed has been easing for a while, but looking forward now. we think that's going to be further out than sooner, and it's -- >> how further out? what time line are you looking
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at? >> i mean, end of the year at the earliest and we'll probably still be talking about the fed tapering but the fact is growth has been tinnially speen pockets, we're right now only at average levels on a historical basis. >> paul hickey, thank you very much for joining us. >> thank. >> we'll move on to our top corporate story. we'll bring you any developments from turkey. it's dark there. prime minister saying get out of taksim. any new democrats, richard angel from nbc news, we will bring you
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the moment to what happened. let's get to our esstrins question of the day. has will lost his innovation. it's cool but hardly a new idea. the other changes to its mobile operating sis tim were also on display. apple has become a little sensitive and listen paul schiller on the stage a couple of days okay. >> can't innovate anymore, my ass. >> can't innovate any mo, strong words but is the quit -- not exactly the same certainly, but some say close enough to be a little bit uncomfortable for apple not to move forward
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because we do have to be fair, right? apple invented that look, and these guys just followed apple so people are saying apple, why didn't you take another leap forward? on a light hearted note, look at this. kind of looks like all the apple execs on the stage wearing the same shirt, one button unbut tonight, untucked, different colors but almost like a. >> are we being too tough on poor old apple? >> the expectations are so incredibly high it's going to be impossible for apple to ever meet them. for apple building a $1 billion business is nothing. the market is not going to get that excited about it. if you launch streaming radio, the market won't get excited about that. they are looking for the next
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ipad and next iphone, things that can be $10 billion, $50 billion businesses. >> how much does this have to do with tim cook, or does it have nothing to do with management? one of those evolutionary things where there's a company that comes out with a lot of innovation and then it hits a peak or plateau for a while? >> i have this piece on today saying don't blame tim cook. people want to blame tim cook. fact, is he's acquired, inherited this company that got to such a great point, a point in time that most companies couldn't get to in that compressed period of time. no, i don't think it's a management issue as much as competition has caught up. you're just at that point in technology. >> apple is not copying those guys because apple create that had look and android and windows mobile have copied apple but to your point about what the expectations are. hey, i'm sorry, apple is a victim of their own success. they will have to live with that
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expectation until they prove they are not the innovator, it's a sort of damocles. >> one thing that apple is really missing the boat on is acquisitions. we saw today google is acquiring waze, a huge player in the space. the primary reason for google to buy that company is to keep it out of apple and facebook's hands and we've had a lot of companies, companies like flip board, doing things in the space that's been killing apple. >> the bottom line here is they may have been a fantastic innovator, maybe have played out, but they can't be an innovator yet. you've got to get back to the reality that apple is a great company and so are others that are catching up to it. >> thanks very much. >> on deck, we're going to flip
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it and give a reason to potentially love apple. why it could be pouring your cars for years to come. >> and cleaning a very close eye on the situation in turkey. at this point after 9:00 in turkey. what you're looking at here is very dramatic pictures of taksim square where police are launching water cannons and tear gas. they were protesting there in the square and we'll have continuing coverage on this. don't go away. so you can capture your receipts, and manage them online with jot, the latest app from ink. so you can spend less time doing paperwork. and more time doing paperwork.
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[ male announcer ] universal studios summer of survival. ♪ all right. again, you can see the situation in taksim square in istanbul, turkey, where the violence and the protests are occurring into the night. the prime minister has brought in the police to try to push the protesters out of taksim square, a very central location which has sort of become the tahrir square as we saw in cairo, egypt, and now the protesters have built what looks to be a gigantic bonfire. flash bang grenades have gone off. the situation continues to escalate, and we will bring you all the latest developments and more video as it occurs throughout what is now nighttime in istanbul. >> we'll certainly continue to bring you market impact as it becomes available as well. meantime, the $2 billion question. which media company, if any, will win the battle for hulu?
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let's get out to julia boorstin live at the biggest cable conference and she's talking to the ceo of time warner cable. >> i'm globed by glen britz of time warner. thanks for joining us today. that's the question. why do you want to buy or invest in hulu? >> i read in the newspaper we're interested in hulu, but that's really all i can say about it. >> can you tell us what you would do if you did get a -- >> we never comment on speculation like that. >> so moving on, let's talk about your business. your margins are contracting, and you're going to have to pay more for content costs while viewers are continuing to cut the cord. is the business model under siege? >> too large and too expensive for lower income people, and it would be good for all of us to work together to create a little more choice, the big package, but also some smaller packages. >> does that mean you support the unbundling legislation
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proposed by senator mccain? >> i think that having 300 networks all a la carte and the customers going through that is too extreme but having more choice and more flexibility is something that would work for consumers and be a good idea. >> you do want to break up the bundle? >> to be smaller, yes. >> now what if areo is approved by the courts? >> i don't know if it's going to be found legal or not, but i've said a number of times we would be happy to take advantage of that technology if it is legal. >> now, what are your media company partners, the companies that sell you all the content going to do about that? how will they respond if they are suing and trying to shut it down? how will you maintain those relation this is? >> aero is specifically around broadcast tv which is free through the air but if you buy it through cable or satellite you're paying submission fees
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and if it's free, that's what it should be. >> so your interest in all of these technologies, aereo, hulu and also breaking up the bundle, that indicates that you are concerned about cord-cutting. >> i wouldn't call it cord-cutting in the sense that you're meaning it. i think the one size fits all very large package is not working for some consumers and we need something more responsive to what consumers what. >> were what are the technologies you're offering your subscribers to help battle cord-cuting? >> consumers want access to any content from any source. they want it on any device so anything is a tv these days. they want to watch programming when they want to watch it, and they want to watch it wherever they happen to be, so we're trying to enable all of that. we have an application called
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wctv which can you download if you're a customer, and we now have all of our 300 linear channels and a lot of our vod available on the apple products, android products, and just today we're announcing a deal with samsung, so we'll be on the samsung smart tapp without a settop. you don't need to rent a settop from us. >> we have to leave it there. thanks so much for talking with us, glenn britt, show of time warner cable. mandy and brian, back to you. >> do you know who the sausage king of chicago is? if you do, you're going to feel really old coming up. >> indeed. following bringing news out of turkey, indeed. you know, one of the things here is it does have a washington angle as well because obviously western allies have really been concerned about the situation that's escalating in turkey. you can see that on your screen with protesters who are demanding the resignation of the
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prime minister erdogan and the problem is it's a key nato ally bordering syria and iran and iraq and washington has held up erdogan's turkey as an example of an islamic democracy, but as you can see here, democracy in its worst or finest form, whatever you want to choose, people protesting and making their voice heard and getting bombed with tear gas and water cannons. we've got the tur, the turkish etf, currently down about 2.6% and also the central bank has come out saying if necessary they will intervene to support the turkish lira as well as obviously sentiment has turned negative. >> equities to keep an eye on, one an equity, one a stock. the general market turkish etf, as you might imagine, it's down. the stock is tkc, turk cell, the big mobile phone company in turkey, and you might imagine that stock is also down 2.5%.
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we'll take a quick break again. more on the dramatic scenes from istanbul. more of your markets coming up on cnbc. [ ice freezing ] [ wind howling ] [ engine revving ] ♪ [ electricity crackling ] [ engine revving ] [ electricity crackling ] ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros
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there are your markets. the dow jones industrial average down 84. the nasdaq and the s&p are also down, but listen, not big losses here, folks. especially given what we are seeing in taksim square, istanbul, turkey, where protests, which were largely peaceful earlier, have now turned violent. you can see a large bonfire being put on by the protesters in the middle of this square. the police being demanded by the prime minister to force the protesters out of taksim square. you saw flash bang grenades. you saw police and protesters in a squirmish here. taksim square, by the way, one of the more centralized locations in istanbul. the french consulate directly abutts the square. you've got major tourist hotels such as the grand hyatt and the intercontinental which are one and two blocks away respectively, so very important economic zone for istanbul and the nation of turkey. >> in the meantime, let's get to michelle caruso-cabrera who has been in mexico city interviewing the billionaire carlos slim.
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michelle, you've obviously witnessed firsthand many situations like we're seeing unfolding here in turkey right now as chief international correspondent for us. can you give us your take on how you feel this might unfold? >> well, first of all, not surprising to see the violence because the prime minister came out today and basically gave a final warning. he said to the people who are protesting, he said i love you, but enough is enough. please leave, and if you don't, and this is what happened, they pushed police. the police decided at his behest that they were going to try to clear the protesters, and now you see this violence unfolding. they kind of drew a line in the sand saying today enough is enough. remember, they have been protesting now for weeks over basically development. remember, the guy wants to put in a shopping mall. he keeps saying it's an ottoman era historic barracks, and it will have hotels and stores and everything else in what's the last green area of istanbul which has had tremendous development. the economy has actually been doing quite well for the last decade or so.
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when i -- when i think about the prime minister here and see what he's done over the last couple of years, economic growth is one thing, but there's also been an increasing tendency towards being an autocrat. the committee for the protection of journalists has written about his frequent arrests of journalists who are critical of him, his frequent arrests of political opponents as well. we have seen this in latin america many times in the past. someone is elected, and they think democracy means that they can roll back the tenets of democracy. freedom of expression, liberty of association, et cetera, and that's what you see unfolding here i think in the streets. >> you know, i was mentioning earlier that one of the key concerns here and why western allies are watching the situation so closely, michelle, is because it's a key nato ally, right? it borders with a number of flash points in areas like iran, syria, iraq. what do you think the response of western allies might be to this? >> well, so far, they have been supportive, right. i mean, even when we knew a full
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year ago about mass arrests of journalists, bin creasing autocratic tendencies, the u.s. government has still been very supportive of prime minister erdogan for all the reasons that you're talking about, mandy, so this puts them in a really tough position about what they are exactly going to do here. >> all right. michelle caruso-cabrera, thank you very much. a huge day, a huge interview for michelle and for cnbc with carlos slim, a man who barely speaks. fantastic job. >> you can see it on dotcom. >> have a feeling we'll be seeing michelle in istanbul, turkey before too long where the scenes continue into the night. it's now 9:30 in istanbul. they are seven hours aheads of "new york times." roberts and forget cicadas, another terrifying reason for you to bug out this summer. [ kitt ] you know what's impressive?
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what you're seeing this front of you is a picture we have in our markets today. we're off the lows of the day and off the highs of the day, a wild ride. meantime, continuing to monitor the volatile situation in turkey. let's show you the pictures of what is going on there. we're watching pictures live of taksim square in istanbul. watching turkish riot police. they have been firing water cannons and also tear gas into what we believe is about 10,000 protesters who have been demanding the resignation of the prime minister erdogan. mind you, folks, this is the 12th day of protests, and it all started out as they were protesting against things such as development, economic development, as michelle caruso-cabrera a moment ago was talking to us about. we're continuing to monitor this situation. we have our man on the ground from nbc richard engel. we will bring him tow as soon as we possibly can when he's in a safe and audible place, brian? >> when we talk about turkey as
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an economy it's been very successful. >> absolutely. >> gdp has tripled in the last ten years, gnp, what the individuals produce, also triple in the past ten years. since he was elected in 2002, recep erdogan, the premise you referred, to has overseen a pretty strong economy. take a look at the tur, the turkish etf, folks. it's down today, but if you go back it's tripled off of its 2009 lows of the chart at the bottom of the screen or listening to us on the radio is the low $20 mark for the etf. now at 60. certainly if you want to analyze the protests and why people are frustrated, they have got good reasons to be from a social perspective. >> right. >> but from an economic perspective, the turkish economy has been one of the standouts in the world over the last ten years. >> absolutely. last year, the end of 2012 we did the rankings of some of the emerging markets and turkey was right up there. the turkey etf was outranking
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the other global stock markets in 2012. obviously today we're seeing quite negative sentiment come into it, and as i was saying earlier the central bank will intervene, if necessary. >> exactly. >> and our job here is not to give investment advice. >> absolutely. >> but i will say this. if you look at the tkc, the big cell phone company in turkey. take a look at the economy and a look at the concept that cell phone companies are not likely to go out of business. the turkish economy is one of the most sophisticated in the middle east, and, of course, it's half european as well so turkcell, before you hit turkcell and i'm not telling you had a to do, we look at countries like greece and egypt, opportunities sometimes when bad things like this occur, think out a and 20 years. >> let's ask on the cnbc news line. we have david gordon, head of eurasia, and i'll pose that dilemma to you, david, that brian mentioned, that whether or not what we're seeing in terms of not great events obviously on
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the ground, but in terms of the stock market, does a dip like this present a buying opportunity? >> yeah. so i -- i'm still of the view that -- that these protests in the end are likely to be contained. i don't think turkey is falling apart, that clearly you have some big divisions in turkish society, but turkey is a democratic government. it's been voted in, that there is a constituency here as well for the government. i don't think you're likely to -- to see lethal force being used this evening in turkey or any time soon against these protesters. i think this is something of a show of force by the government, erdogan, showing his supporters that he's still in charge, but the police i think have real limits -- >> do you think he'll remain in
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charge despite the protesters asking for him to resign? >> i think he is very unlikely to resign. i think the way -- the only -- the only way you get him to resign is if he loses support among the ruling party, the akp, that he's not going to resign at the behest of the protesters, and right now he -- there are elements in the akp who would like a less confrontational approach with the protesters unless and until those elements really decide to take erdogan on. he will remain in power. >> the police, and we're seeing, david, some live video and for those listening on the radio, i'm going to set the scene for you briefly. the protests escalated and the police fought. the police pulled back and now the police, we understand, are making another push into taksim square. a secondary push. there is a lot of tear gas that is visible, fairly strong wind
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as you can see from the flow of the gas vapors, some concerns that the vapors will turn around and the wind will shift towards our cameras blocking our view. you can see a few protesters out there trying to brave through the tear gas. david, i want to go back to mandy's initial point and what we talked about at the top of the show. we are cnbc so this is what we do. >> yes. >> if i look at the grec, the greece one, it's down 16% and greece's economy has gotten worse in that time. no one wants to say profit from a bad situation, but the turkish economy fundamentally is healthy, is it not? >> i think that's right. the turkish economy is still healthy, and -- and, again, this is -- there are real social tensions here. turkey is not greece. turkey is not egypt. it's not syria. it's basically a country that's
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made terrific progress over the last decade, a much bigger middle class. part of what this is all about really is a -- a debate in turkey about where -- where a middle class islamic society should be heading, and -- and that's actually a good debate, so this is a terrible event, but i -- i'm sympathetic, brian, with your view that lets -- let's not assume that because we saw pictures that look like this on syria, on egypt, on -- >> david, i was -- i was in athens for a week when a lot of the protests were going on. you have 40% unemployment among people who are under 25 years of age in greece. turkey's unemployment level, above probably where anybody would like it to be, is actually the most favorable in the region and the economy, the gdp has
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tripled in the last decade. >> absolutely, yeah. >> absolutely. i mean, that's basically i think -- that this -- that this is not -- this is not the beginning of a major political collapse and crisis in turkey. it may be the case that erdogan gets pushed out by president gould and others in the akp. let's wait and see. that's not impossible, but i -- i think right now investors should be -- should be a little cautious before heading to the exits here. >> absolutely. just to also mention that i believe it was just handed an investment grade rating in mid-may, so only about a month ago by moody's. this is a clear remind their emerging markets, while the rewards can be there, the risks are also clear and present. thank you very much, david. >> you're welcome. >> all right. up next on "street signs," face
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to face with a robot, well, actually the ceo of "i, robot" who is a human being. he is going to change us and how he's changing the game. will we get rosy from "the jetsons" to clean up? but first, bill griffith, what's coming up on the "closing bell"? >> continuing coverage of what you guys have been doing a good job on in istanbul. top central artery jists are standing by to explain how to protect your portfolio amid all the volatility we've been seeing lately and will we see the great rotation out of bonds into stocks? sort of saw that this morning, but will it continue? we have somebody here who says it will, and stocks could soar once bonds investors see their latest quarterly statements come in, and is it better to be lucky than good when it comes to creating wealth? we've got a surprising study of american millionaires coming up. maria is in washington. i'm in new york. we look forward to seeing you for that crazy last hour of the trading day here that we call
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"closing bell." we'll see you later after "street signs." stay tuned. all business purchases. so you can capture your receipts, and manage them online with jot, the latest app from ink. so you can spend less time doing paperwork. and more time doing paperwork. ink from chase. so you can. with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
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dave's always wanted to do when he retires -- keep working, but for himself. so as his financial advisor, i took a look at everything he has. the 401(k). insurance policies. even money he's invested elsewhere. we're building a retirement plan to help him launch a second career. dave's flight school. go dave. when people talk, great things can happen. so start a conversation with an advisor who's fully invested in you. wells fargo advisors. together we'll go far. once again, a scene that's really captivated the world right now. live pictures from istanbul, turkey. the police ready to make another
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push at the protesters who are hunkered down in taksim square in central istanbul. protesters have lit a large bonfire. the police, as we understand it, are ready to make a second push. you can see there a number of police lining up in central istanbul as well. they have been firing flash bang grenades and firing tear gas. protesters taking off their shirts, getting them wet, putting them around their face. they are ready for a standoff. this is day 12 of the protests in turkey. >> in the meantime, check out irobot. these guys make everything, from combat robots to vacuum cleaners, and the stock is up over 75% over the past year. the company's also ready to make a new robot with krisko. joining us to talk about what this all means for the company is irobot ceo colin edgen. when i heard about this, the fact that you've got ava a little bit taller than me and weighs a little bit less but can basically take your place instead of you having to go overseas or another office for a
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business trip, this is kind of like that movie robot and frank. this is the future becoming now. >> absolutely. we're trying to do, we can see the importance of getting people to talk who want another in an increasingly global economy and trying to create tools to allow that to work better is what this partnership with cisco is all about? >> but it costs $70,000, or i believe you can lease ava for 2,000 to 2,500 a month. do you think at that price there's going to be a lot of demand? >> absolutely, because that's about the plane ticket. the key was to make a system that could actually allow you to have the type of meeting that you would have if you were in person using this technology, so it's not a low-end system at all. high-definition graphicses. high definition of audio systems from cisco, a robot which has the presence and can autonomously navigate to where you want to have that meeting
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and then give the operator the type of impact he or she would if he was there trying to make a point about meeting a sales target or making a strategic pitch, so this is a very serious piece of equipment, not meant to be kind of fun back and forth on your tablet, but, instead, being an effective alternative for going there yourself and by successfully delivering that functionality, absolutely. >> it's a very cool technology, but i do need to bring in the news of the day. roomba sales slowing in europe, see what's going on in turkey. and you've seen what's going on in turkey and other parts of the world with the increasing protests, will it have an impact on irobot? >> well, we're a global company and sales in the north america and in asia are doing extremely well. europe is growing less quickly than it has been in the past, and i think that robot vacuuming
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has now become so mainstream and so significant that we're more impacted by global macro economics than in the past. as a global business, we're still excited about the prospects. the robot vacuuming industry is in fact the number one growth category in the small domestic appliances, so the newness of technology is still driving people to the stores. >> because everyone hates to vacuum, right? colin, thank you so much for joining us. coming up next, apple getting behind the wheel. tdd# 1-800-345-2550 [ trader ] when i'm trading, i'm so into it, tdd# 1-800-345-2550 hours can go by before i realize tdd# 1-800-345-2550 that i haven't even looked away from my screen. tdd# 1-800-345-2550 ♪ tdd# 1-800-345-2550 that kind of focus... tdd# 1-800-345-2550 that's what i have when i trade. tdd# 1-800-345-2550 ♪ tdd# 1-800-345-2550 and the streetsmart edge trading platform tdd# 1-800-345-2550 from charles schwab helps me keep an eye tdd# 1-800-345-2550 on what's really important to me. tdd# 1-800-345-2550 it's packed with tools that help me work my strategies, tdd# 1-800-345-2550 spot patterns and find opportunities more easily.
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gm slashing the price of its chevy volt electric vehicles in an effort to boost sales offering as much as $5,000 cash back. phil lebeau, is there trouble in hybrid paradise? >> i don't know if it's trouble, brian. but it's clear a what the automakers -- or at least the mass-market automakers are doing. the volt is now, as you mentioned, with a deal out there for up to $5,000 cash back. that's for the 2012 models. it's $4,000 cash back for the 2013 models. one reason that gm is doing this, volt inventory is now at 140 days. really, that's double the
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preferred level for the industry. but this is the latest example of electric vehicles having special deals thrown out there. you've got the volt with 5,000 cash back. 259 a month is the new fit ev lease price. that's been cut by a third. and nissan has had huge success with the leaf with a 199 a month deal. that's been out there for more than a month. and since nissan has rolled that out, they have seen sales more than double since cutting the price on the leaf. and at the same time, the leaf is an example of nissan doing this, because they expect record sales for the vehicle this year. how are the leaf sales doing relative to the tessla model s? they've sold over 5,000 vehicles, and you can see with general motors and nissan, with general motors outperforming nissan by a wide level. the bottom line is this, guys. you will see more of this in the future, because moderate gas prices, this is one way they can
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say to people, these are good deals. you have to take a look at these cars. so they're cutting the prices dramatically. >> dave, thank you very much for that report. in the meantime, we have breaking news with amman jabbers. what are you looking at? >> we're looking at google pushing back on the u.s. government. google's chief legal officer sending a letter to attorney general eric holder and also fbi director mueller asking for permission to be able to publicize the national security requests that google gets. google in the letter saying assertions in the press that our compliance with these requests gives the u.s. government unfettered access to our users' data are simply untrue. going on to say we, therefore, ask you to help make it possible for google to publish in our transparency report aggregate numbers of national security requests, including fisa disclosures in terms of both the number we receive and their scope. guys, a dramatic request here from google asking the government to allow it to have more transparency in how much national security-type information google is turning
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over to the u.s. government. >> thank you very much. >> you bet. all right. as we go to break here, we'll show you more scenes in istanbul, turkey, where the police and protesters have squared off. although most of the protests have been peaceful, things have stepped up. we will speak with somebody after the break about turkey, their economy, and what we can expect going forward. in the meantime, turkish stocks have fallen some 23% over the past few weeks. there's been about a 200-basis point increase in turkish borrowing costs. so despite the fact it was given an investment grade by moody's only one month ago, there is jittery sentiment regarding the escalating situation you see there unfolding in front of you. ♪
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5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ we're joined now on the cnbc line by ariva, very familiar with turkey, its politics and its economy. can you explain to our viewers and listeners why we are seeing protests accelerate in istanbul? >> reporter: we're seeing it now because the police started a raid early this morning to clear out the remaining protesters, which had dwindled in number starting this morning. but you had some protesters that threw molotov cocktails, through them at police, and had people
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come out in sal dart with the -- solidarity with the protesters, and now you have a police-clearing operation with riot police in every street leading up to taksim, trying to snuff the protest movement out. but i don't think they're going to be successful on the timeline they're expecting. >> why is this such a critical time for the government? >> well, for -- i mean, this -- descent has been rising. it took a small trigger over the protests to inflame them. but, you know, it's easy to forget the silent majority when you're bombarded with teams of police. there are still millions of supporters that benefit from the akjb being in power. and so, this doesn't yet pose an existential threat to akp. >> would it be a good time to invest in turkey, very quickly?
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>> well, it really depends on what kind of investment. longer-term investment, it's going to have to adjust to a shifting business environment as some lobbyists trying to keep the distance. turkey's very high current account deficit is definitely a concern. >> okay. >> yeah. >> riva, unfortunately, we have to leave it there. thank you very much for joining us. thank you for watching "street signs." >> "closing bell" is next. hi, everybody. welcome to the "closing bell." coming to you today from washington, d.c., we are going to talk about the issues of the day here in washington, as well as take a look at the markets. i'm maria bartroma, and, bill, what a wild ride. >> so many cross-currents going on here. it started out ugly this morning, and one of the problems was higher interest rates. the yield on the


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