say gogonight,grgrac. >>ririburnett up next. >> day two of mogugul ninia. first the mogulsls omemea and twititte hehe barely existst lt yearanan not t ee case as weomome into this july. what wl l behe next big thing next year. we will g get the layy of the l from our personal favorite, jeff tucker. case you were wondering how imimpoant the technonoloeses are like twitter, we wll think about the recentunrnres in iran. that's a hugetory and w will talk to o o of theririest men about that. last b butot asast, the moguguls on the e ecomy and the prpresenen

we haveeen a bigg drop i in approvalal ratinin f forresiden obamama. is the stimuluss working. wewel tell you what eryone is saying and w wilbebeoined by a special l ggst. ththe w w yo mayor and c cor booker abobo how it is working the. that's o o s sho it starts now.w. >>susun valley, idahoho with th didia conference.. all sorts of c cpapani have been cored. one ofofhehe topopic w w laee companies. yohaha coca-cola and talkiking withth ge and howarard stringer about running big companyny as well as otothe c cversations on th media. the major market avavereses takn a break because thee leaeade a e here. the doww is moving aboutut 13 popotsts. the upside nasdadaq h hher as wewell let't's ececk e trading f foror and find out whahat u u ed to knowow. art is w witususn the floor of thstock exchange. art,t, l's's bin with you.

what are you looking a >> a couple of hihing yohit the nailn the hehead a l lot of people e t talng aboutt erosionn n thpresident's popolland will that lead too a change in p polyy or posture.e. ththeyavava lot off time to tal becacaus w we have a stalelema h thth conditions spoportg the markrks d d e worry ababou tt head andnd s sulders break dodo and putting pressurure h himlf. could d e eitr way. noecision yet. >> whwhatbobout your de? weetet this issuance and p peoe still seem tokeke buy together ery type. betttterhahaexpected auction. i will tell y youwhat. the auctions werenen the oblem. 30 w w as pristine as yesteterd, but the job b isonone. onon agaiain, as i said every otheher weeeek you will havee 1 llion or there abouts.s. i think the big story is the yields arar higher thann t ty we yesterery,y, b the dollar is gettingmacked and down a full

center a a c clo it. thth d dolr indexexss one othth reasons, thehebrbrish and th nknkofenenandnonot increasing. phed the rates up dd this continueuetoto ba story in theh ey of mamanyo o trto have a macroview w ev on microview points that t uslllly ist on trtrining oors. appppciciatit. n n lley as yoyouhave seen is a bebetiful place. ththe h hdldlin are coming outo he as we have e bemphasizing e e anhing but.. 250 plus businines leadede a ar hehe and ourrake ay ishat th a areessimistic about the economy. try mossndnd what we canous s that themessagess loud anan clear ovevera a andhe recovery ititse is not started.

thewo enenies, withmerican exexprss and the othehe w wit v chchaianan ojpjprgan chase. mmmmy e. >> i think it's w too rlrlyto y y we areinin a ononom revevery i thininwhwhat important is that l lea whate are seeing is stilization. there signs that cld lead to green chuteses. i would hopehat w we wouldeeee improvovemt t sotime in the cond half of 2010. again, that depends. on jobs. arthth being created dd importantly coconsereronfidence. if t tha ppens, tterfific. that's not ww i planning t t manage my y bunene. >> the m m&a market has been qut to s s the least. everyoyoneasaseenccumulating sh and pushing maturititi o out inin t ter of refinananci and n

spendidi a andt some age this market will come alili a and probably in a a biwawa certainly hope orr the lolong term. ididum it up. youpupon looking at theecond half of 2201ccording to m mos peopop he.. weilill ve plenty momore were joined by boss,ththe ceo of nbc universal representing the m med s sidof the eqeqtition hehe sd you canan't useththe wo greeeen ututfrom your pepepecte. >> it's grgrt t toe with you in a auauful place. the new sun valllley bureau, i think. i thinink we touch a lost consumers through ouou theme parks in boxox oicice d televisisi a advtising. t tnk it't' s sll quite certain. yoyou n'n't really see the f fu

recovery we are all hopining r and that we e wa.. it's still touou o outhere. it's a little bebett. tetelesion advertising as whole feelss a little b bteter the nationalal sllll theiggest sign i is e up front, t the period where we se 75 to 8585% t tevision advertising g r r th next yr.r. normally that process is completely done by j jul4t4th. >> and are not donone some. >> it h hastt beben.n. th's'she best b bareter to say there is a a lot of apprehensnn out there anand a aot of folks w

arlooking fordifferent eaeals. they are looking f a l more flexibibilyy a a obviously weere intereststednn providing that, but the conversatioionsrere me didiffult and that's a sif the tis. >> people are no planning ahead.d. is there a catalyst youanan s when the conveveatatiostarts thatouou are ablbl to say we a getting good prices?s? >> it's an emotional coconvsation on both sides.. adadveisiss and agencies l loong to pay less than they h hav don in the pasastndnd televisisio netwtwor t thaare producing faastic ratings andnd places s like cnbc would be o o.. 's's a difficult conversation. the keyey wo is flexibility a both s ses w wan it a a a at so point you haveeoo see whoho giv. >> youou a herendnd barry is here and b is here and hnhn

malone is here andouou are all in place. li a bunch ofmagnets. >> thatat's the n nictt thing s of us have beencalled. what's theheosost interesting conversation y you he had that yoyou n share with us? >> i thinkthe nversations that t te e ple here are about it isdidigil landscape e an evereryby y is tryryg g to figu out what the next twitter is and fabobooknd what those things mean. i ththin we a are a allalalki at what's next and what's's it goi to doo o r businene.. o one conversation n atat kno came u up ss paying forr the ininteet and very f few m med cocompies have been gettingng suggest f getting people toto pay for t this on the web. >> you he the consusumeonon top ofthat. e you everoing to makeoney onhehe ebeb?

>> this h haseeee the nversation and people e ha beenonondeng about thatfofo a long te. i ththinthth answer is we are making monoline. the iseess can we m me up f f th online. we areaking monoline andt't's tthat any offss expectedyy th p pnt we ululd doing. ovovtitimehat will continue to grow. 's going to be a a growth e eine and itit'sotothere we expected be today. th economyonon top o of th mad it even morere dfifilt. >> whahat ouout deals? everybody talks ababou deals tting ne. ere have been huge deals a and most le in heaealtcacare yoyo have been o of the more actitivendndarious thihing you ve done. areyoyou looking at doining anything? i don't thinkthth is the year for -- > iitit the yearoror ititr?

i don't thihi t thiis the year thahat uu will s see a lot alctivity in theeded space. ththin this is year about everybodod getting their house n order. buyers are lking for bargains dd s slelers are looking g toett what they y we w wor a year ago. that m mak it didiffululto get anything done.. u u ll probably seee nothing in the media space for t reses of thisis arar >> what't' the bottom m li?? sisiining ere you are sitting yesterday, he iss just ncncerd aboutonsumer confidence.. the ports sayay it's back, but he doesn't't s anan is not sengng it i in spendingng what do yoyou ee whehen you loot theme parks s anmomoes and the tetern? >> t trere i mixed signals and the box offifi is stng.. that's a alwss proven to be a cheap form of entertaiaienent r the family.. whwhenououave bigovies like

transformersrs orcece age or bro enenintomorrow,,we think t box o offe is good. theme parks that h adifficult first half hopefullyly wl haha a go s sond half of the year.. think there e is m mix sials. 's's n w whe we want it to be, bubut hopefullybetter. >> what are aboutcccces toto capital? people can refininan which is good andouou can't get anyoaoans and that'snot easyfofo everybody. >> i think th it go ckck to right nowafafys s th key concern. i don't t inink u will see many dealss takingglalace and i i d't think you u wi g get accesess t capital so readily. >>wewe saw hihim a a he's not sesellg us now. a arekay. i thinknkeff has been n eaear on that f a l lon titime the support off nbc universrsa

hahas waways been i incdibly strong a andononnues to be so. assets like cnbc are a bigg par ofthat. >> thehe sonondalf of 2010 andd he isnonot runnini s bunene for ththat he would take loloerer. woululd uuagree? e you more o or less optimisti? > is s out gettingeaeadyor 201010 i the way wee are ruinin the acdent. dog the best jobob that we can. mumuchf f at has beendying. gettining adad for 100 is reall thth key.. we can r reiptptistic tt 10 ll be a better year. >> great to o beitith u. thanks f f c comg over. we dd a lotore c comg your way from sun valley. wewe will bealalng to the c of pipita management anand road

scholar and ststar of the decrcric party,y, corey okok. al o ouruest is talklkin about the international s sto which is a bibig rtrtf the story here. 'll be right back. d'pppppi

> weomome back, everyone. alal aboutalalki about wheree the economy reallyis. joining g us is someonene w has bebe talking tollll of the exexututiv in the room and lklkinto other i iesesto and mang invnvtmtmen dececisnsns vid i i presidenent dd ceo o of third avenenue management. th have funds and all of themem have been solid d peororme so far. it's good toavave you with us. >> griri t to here. >> srtrt with t theig question on the cocono. we describeded t moodasas glum t best. pepelele a talkingbobo stababily y ancareful to say we are not in rovery dede. what's's yr r view? >> we try notot to spend t much time having g a v vww aut mamacrvevensike that. itit'sararto ededicand the people who a spending timearare fafasmarter than w e.e. most of f thtiti they get it wrong.

why which we should wawastouour time. focus on securities s anmamake gogoodolol invnvesenent dedecio. >> let's talk about whatt you have d donththe. let's gogo tththe rprising ining. u are based in new yorork, right? ththiravenue management. sometimes you justaveoo say it likike iis. 40is hong kkon inin hong koko. 40%. a lot of p peoe e li there. it's a little d d on the map. >> p problbly theesest ue ips and ththey are fantastic assets inside those balanance sheets.. management teams thahaarare ners and not jujustpepetors. in o our view currentlywe think thgrgrow opportunities in hongng kong w wh their developopme lines to mnlnld ina and otherasasts they ownanand cororoare better than what e s. economy's growth tunes s ar >>ndnd your holdings ar u up 7

since justefefor the m mch botttt f the gbaba rkrket what is leading that? literally henderson land developmentndndthers in here ththat are hong kongng most peoeopl don't know those. why are they up so uch? is it p peoee bettiningn n cocove? i i should be fair here. they were down q qui subsbstaiaiay last year which s a contributor for ouou difficult year. theacac of the matter is these are rock-solid cocompieies d you just aededour prior guest terest b access to capitalal. these are t the c comnies that don't needed it t tbe able t to thrive. weweook for companies that dodot need access to c capalals a way toto gw w buness. thth's's a dangererou thining. it's n n a avaable right now.. if you donon't have itit, your company isis pbababl going to b in a disadvantaged position. >>imim was talking abobo t tha yeststery.y. it was a stutunng g stistic.

pepeop m me the loans and sold them to other peoplele last year there w wer basically none. l l is seeing isefinancing anand t t mplete in many cacase yohave a close ee on cdidi and aa lot ofof them areirectly inin cdidit. what are yououuyuyin >> we arere looking -- >> we are notot shorting. are looking at leverage loans ananhihighield bonds and we adadd a couple ofprpressionals toupuppo this effort t t papaicicipe in the market place in launching fund a at the end a aust to focus on creditit. we don't currently have thth right no >vevera or distresseded cre? we look a at distress as a differertt d defititn that mbeb lly is refererre to. you u nn argue that the e entee hi yield and levevagagedoan is distressed. trtradgg a at 1 whehereouou c by a treasury for a little e ov 2 2

isn't that a disistrsesed number > tt't' a faiaipoint. >> the bigger i iueue is playin atatarket is very difficulult do. we are individidl l serity leleion playersrs, we loooo at beingredit buyers like stococ buyers. b broht in support for the team to make lections in btbt and thther a a nd of examples. we have a a lot of real l estete debt andndcocoananie a a iththe p ptfolio ande own standadard pacififi debebt e ha been. >> d didououea ci?? >> standard pacififi >> a carar drove byndnd i nted to be e susu. >> thahass still difficultfor us, all they ee an exceptioion. there interesting t this s d so of them are dririn n by pricing. wewe c buy that security and no

worry about whatat g goi on in ththe maetet. >> so many people said you u started out with the c corrara rally anand uiuiti and they have co far. you go in indivividu nnam, but fofor regulular persoson watch i repeporasas you should buy in the junk ral he? >> be cefef and selecect manager r s secity that youu know a a lot about andnd we pr ourselves on being ableo o epep de research and learning m mh aswe can a abo the company beforere we make anan inststme and knowingng what the downwnsi w wl be before t the upside.. m mosinteresting conversatition you had h her o o personouou et? >> i ththin all othth nversations have e be unbelievably interestiti f for valulue investor like me and th media conference. i think there is a a bit of a nvergence. so o of ese media companies have become part of o streams

for the e vae e ock. the pepersctctiv it's quiui i intesting to hear a lot of people, especially s sm pepeop n not have alelearnl on whatateaeallthe future looks lili. weweonon't know eearg, but don' end a lot of time to figurure out. it's comfortiti to hahave them n mega companies and be in t the same boat as y you >> youououldave said brbr mes. h he'cool and offf the rorord you can't talk a abo this stuff. with harvey last nit, that was fufun. >> thank you very y chch. it's good to seeee y.. thk k yofor givings a a sense of what's g gngng on inn therer it's muchorore an mountains an media moguls. corey booker isere and a a lot of reportss a pkeked outut o him as one of the hottest attendees and one of the city'story and

talk about t thetitilus we are eieingnd whetherre need do a seseco o or t. the majojoenenteng focus and lot of t talababouworld leaders. we areoioing to be hear r example e nenera peeueu weavave e richest man in ept to be ouougugues we will be bacack a aoment. if y youe e li a lot of people, you have highgh bododressure... and you haveve hi cholesterol. you've taken stetepso o tr and lower boththouour mbers. but how close are e yo to your goals? there may be moree u can do. only caduet combineses twproven medicines... high bloodod pssssur and high choleleererol in a a cninicastudy of patieies.s... duduetelped 48% reach bothth glslsn just 4 weeks. caduet is onone of many treatment optitis,s, in addition to diett d exercise... with your doctor. that you can discucu it's n notoror pple with livererrorobls... and womenn o are nursing,

pregnant or may cocomeregnant. to check for liver prorobls,s, you need simple blbld d tes. ll your doctor abouout y y art problems... anand l l her medications u u artaking... mumusc pain or weakness, or if you experience they may be a sign ofof r rar but serious side effffec how close are you totohehereou want to be? k k ur doctor if cadueuet n n he you go... fofor th your goals. you have questioions o can give you the financnciaadadce you need? whe e ll you find the stababily y anresources keep you ahead of thihisra? these are e ugugh estions. that's why we brougughttotogeert powerful names in t t i indtry. intrododining rgan stanley smith barneyey. morgan stanley smithth bnen. in t t i indtry. he t to think your questioionst.t.heh. a new wealthth nanagent firm ththver 130 years of expxperncnce.

>> are h hern sun v valyy givingngouou sense of ththe ener a a lo of bike t tras.s. meme m be biking. is it anine-mile ride or sosomeing avavaabable they have alll sorts off things they can do a you canlala brbrid if you like. they liketoto do that appppartl and d kn s sugst also an option if you like that. i dodon'knkn ifththat what corey likikesto do bebefo w w geto o th yor, we have breakakgg newews g geral motors. i believe fills in detroit with th.. >> hi, mimichle. we arere iththididstof a numbeb

of m manememen changes. they know they ce ouou of bankrurupt a and likely to anunun they will be shortening d slimmingdodown the mpmpan ririing down ururearacy. bob lutz is goining to be takina greater in the compapany and hang influence intetes of fure product planningng wh the company and wrerehey go inin rmrms how i it etetcustomer dendnd a need. that's one of f th t this that s ou thereurrently and we will hear more cngng announcncedvever the next 24 4 ururs. guys? > w willleeeep youou updated david from thihird avenue wasas talking to me as he e wa walking off the set. thing to k kee ininind is the part comining out of b banupupys smalleler anan t part staying in it could beigigficant to ththkk abouout e e ct that itit will te years and yeararsf f th rest of the sisituioion work itstsff ou coming outf bankrkrupy y

something itit te e wi a grain s sal cocoy booker is the mayor of new york, newerer jersey andou are one ofof t stars.s. you will huhumb, but thth rising star of the democraticc party and youou have l of it to yoyourame. >>hihis inincribib at the coconfenen. thpepeop here and the breath ofnonoedge on differentsssss is enenomal. >> even ifif y d d't say who was with,utut anything ststruhome wi u? >> how focused thehey are with e companies that arere w worngng ho people are conceptutualinin dedecrcracand ecomom cocomerom aity that i is in nene o of a g grongngcocono and opportunity. seeing peoeoee w understand thee mission and kikinghis work for pepeop is great. you addo that social

networorki a a the social media that is emerging inin america a ththopoppounity to give pple more access to democracyand the economy is incrediblele. >> you haveeororld leaders and people onmemedindnd bususesesse and everyonehinks we kekeptchl sighing more than thatat. >> sitting inn o conversations and giving peoplple a a chance talk witith folkho is arare notn theirr sector who ght be doing mething different. you hear the ididea come i in a e mayor ss ahance t sit downwn a that's in n thededia t brainstorm about how toto mee things bebett. >> let's t talababou thihi s s march we went on? it was innarch and you were talking about ththe programs y hahaininew york and things to do to turnththeececomy ararou.. betwtwn n noand en, we he this $787 bililonon stimulus. hohow ch of the m mon that you applied f forave youeaeard

whether you arare going toetet actuallyly gogoen? >> it's not a quick ocess. 40%of the moneyy haseven been dispensesesoso r.r. we are applying for cpetitive grants v fmula, but i l lik the g gras s an the ones thatata cocompitite. whether r it e ecacatial nonovaon, we cannot continueue to do the same thihingveveand over a aga.. and expect a dififfentnt rult. they think differently anand crtete p parerships and be acaccotable for real c cngnge the community. > smany people are so critical as you know. they sayitit bureaucratic and d you are sayayinthth are trying to d do somethingnnnnovive and crtitive is there l l of red tape? that'souour ue version? >> therere papass of itthat are slow and obama is making i it sm

acceptable. to sitwith three o four other mayors andlean and address t the complaints is poporfrful what's exciting g toe isere i am on the frontlinenes d d inny commununy y th have a dndnping nation is crimeme a corruption.. we have bebe c cleininthat up dd leading t theatatn in viololencrcrimreduction. to get more police o oiciceron the s strtt and create an environment that is positiveve o investmentntndnd ridents is powewerf.. thetitimus package f f s,s, we can point t to lot ofucuccees in newewk k alreadady. this money has helped us. > puttinghat into the conversation he,, w whe do you stand fornewark? high unempmploenent d all of the proboble.. if thingsre gettiti b betr there, that t mameme something. theececonalalof 20 0 is a recovery.. what do you say?

>> first ofall, 80% o o americans live in cities or directly in the suburbs.s. wewe a an urban country and t t challengeses w face didirelyly affect thehe enonow nme. the amount of ergencies they arproducing compared to o e e united states. it shouldivive us long-g-te competitivivens.s. i am b bulsh on ariri because of the ability to thkk outsisi the box and theistory of o o country is the testimomonyo o t achievement of thehe mpmposble. anyone whohohihink it will r ro in on inevitability are wrong.. h hav tomama our economy w wor anand keke iestments for lo-term success. what about your imbigzs. i knowou are not running on the ticket, but at is yourr next bition. iinow y a areappy being mayor, but beyeyon that.

>> that's th pololicical nswer. i'm much more interestst i a purpose than a ppititio i t tnk too many peoplee figure ouout e next office e tohold. i want to rerevevent the narrate american urban cities. too many of us resigngn ourselves s to p proems and i ia front to who we are as a anatio. i wanttoto show thaha theyanan rk and newark is on the way to telling that story. ii am committtted to reelectiona i hohope the voterss ll rereelt me dd weilil consider thee next bibiidea. we have become aountry that had too high of tolerance and we need to expandhehe moraral imagination back tohahatit used to be and d beeveve r history s s a reaming testimony. >>t's always wonderful. i know youou meanhahat u say, but yoyou eaeabeautifully. >>hank you very much.. >> you managage to give a wonderful anansw a altugh you didi't't awer my question. >> m may c cey okoker ofnewark,

w jersey in sun lley.. weweavave brbrkikingeadlines in cacalirnrn related the iouss and mamatt nesto h information. >> how w wouou likeke to gethe cacalirnia ious. eyey ce unnamed sources andnd said maybe as earlylys s toy they will prpropeeegegating thte califofoiaia iouss and mining market for ththem youilill so you canell themm an have somebody buyyhehe ataadiscount. they carry a and 4% andhehe don't want to accept ttm. otr people th maygege stiffed, but thehe b n ns is thatat. sec accordiningtotohe story may bebe looking to regulate california i iouwhwhicwould make emem tdeable. ck to you. >> you have to regulate tmm thth i in this wowod. cocongng unext on the show, , th daily dose of f crerer.

wenonow didn't likik what he had d to hear about t ee econom out ofof tss coerence, but he has trades foror you todayndnd ngngbdullah is herere and it mamaerers so much heree in the ununeded stes. ririghnono bothmimilirily and economicallyly, a are goingoo fifi outwhyndnd what's next omom oneofof tririest men in n the world and also the head one e ofheheargest industrial tions in the world. we'll be right back. w wating in slow motion ♪ as you turn to me andnd s ♪ ♪ take my b batath ay (announcer) ge lococomiviv. customers love them m momosts much as we love mamaki t tm. m my ve ♪ (announcer) invavaon today for amererics s torrow.

jim cramer. >> i'm still waiting foror one yoyo bests to say things have goen better. hahavet hehed d itnd i think sosomehihis are tting bbetr.r. ybe people who are seeing things gettingetetr are notot in the media. this has been assures foror so ngng, ybe that's the problem. >> theediaeoeoe are ere, but cococa-lalas here and ereric express is here.

i think atat maybe y you heardf and he sd there a f few things.. the best i can do o isalall a bottomom >> i c com back to ththe fuamamtal esesup that t this s are betterer tn n that. what i heard from t the storere ththorning or targeget or what i'i'm heing frorom the p peoe the restaurant business,s, tngng have improrove wwill see if they do. weilill have thehief o of ee nsnsuction and big consnsucucti business in a fewew moments. >> that are could be interesting. >>t may make you happy. coming up nenext >> again, it would too much

if one of theompanies is ablbl to makee me feel le thth reason why theirir sck went up 40% wa because things h havototte better. i veve n heard one say that yet. >> no. as a matatteofof ft they seemem eager to say we e dot t kn why it's'sonone . > i wantoshort every company you have ininteiewed. ththat not the way think is ririgh i think tngng are better r th that. i'not an optptimt.t. we ar not g gngng to go t thrgh the top.p. we are headed t to ee 7,00s if are notcareful. if obama s set the wrong ne. i don'n'hehearnyone blaming but saying things are n not so hot. why y arweweaving to move? that's why i love wtt we arere doing.g. things are better. >>'m'm gd it challenges a and think you woululd challllen bei right. we all like thingstoto g

better.. >> the companies mustt not be there.e. many of my companies involved wiwith internenetnd mobile ininteet are saying dramatic pick up. ifif y can get them. t theare all here. ll gesess here and jeff is here. one thingng a e erything is off threcord, but will say this. jeff is walking ararou w wh a smile e onisis fe. he is a humorous y,y,ut he eses tt have that kkine. >> there ihink you have something. the e bunene shifted to thee positivevendnd i think hehe pke up a lotfususess when gasolineneenent to $4. e kindndle he has the uppeper hand. atat'sho i would like to hear. honestly, , i ininit's better. >> that's whatat iseses. >> i want to h hea it.

>> she not going to be comining on, b but he's heree and laughgn and smiling and d atat'sll i can say. >> the money makerer okokay someththinhahaened last night. >> you likeke mamazo >> somometngngappened lasast nit and the network was i i a btle they walkedaawa we knew this augustuarter thatt reported was goingng tbebe blowout. we got wordthey a a going t to overery y agnst emc. now thahaththey are no you focus back on thehe core business whih is on fe.e. i wish they had a reason to o be in sun valley, butut t ty are t busysy making money. > lt but notot least --- >> ienenoned it last nit, but i wanantetoto geeou the cocontt.t. i spend the e beerer pt of the last threeweeks trying to fi companies thth benefit frorom p

and trade. you just got the that t does. i am stk.k. i n'n't find cpapaes that on theieiowown could do betterer bebecaeef cap and trade and i have hundreds of compapani t tha do worse.e. i found one ththat w wld and ii questiononbobouthe agenda ofofhe prididt. >> thank you.u. i'mlalad you f fou two pososite things. >> get somebody who h has memethg good to say. >>'m'mrying. tomorrow when i go around, i ll ask and ask and find onone thing. i i wi promise to get it o the record. i don't mean the wther. >> all r rig, , m. thank yoyou. more of jim tonight heheren n cnbc. a billilionrere from f farwawa e in sun valley alongith many people f fm m arnd the world a

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welcome b bac sunvalley. as weave been saying throughout our covereragofof t conference, this is mumuch m mor than justt a miaiaconference. polilitill issues andd military isissu are very impororta here. lo a at the ththrepipiures here. ththeolumbian presesidtt andinig ab bulla of jordan and g genala petreus talkikingbobo the global isissu that are so importantnt particularly in the e miasas also hererouour ecial ests. the richest man in egypt, one of

e largest constructionon companies in the w wldld. theararge constructioiococompy in europe. wonderful to have yoyou thth u thank you.u. so many people think o o this a a dia conference, but global issuesarar obvioususly impmptatt i a ask this questionon everyone, but what e the m most interesting g coerertions you had here in n valley? >> i think the mostntnterting is about a talee o of two world. thth marketsts and theyy contin perform strongngly basically these arereas have be blessed a an unco50icicat baing system that lefef the system intact. ey continue pent u demands for basic hoinin china, ina,a, mideast a and afra and partsofof asia rforming in a wayy thaha w heard from cococaola and ge.

europe and the u.s. obvbviolyly coinuing tofford andwewe hear ththe liticians talking about the exit scenario. you said that's so f f a awa that's's lee removing thee patients from thth scare becaus eyey he five minutesf regular r hetbtbea. >> tt's p ptty p poiant ande are tking to t the today. dodo yo get thehe senenhahat t anyou believehahatmemeing markrkcacan continueo groro really grow i the united d atats doesn't starart to prprov rerelympmpve and have g gen-- >> we have e growth in egyptpt and we were targetetg g 7%

inina talkingngbobout7.5.5% fo ththisyeye. ththera tback, and therere contininss tbe a smamal setback ififhihingdon't pick up. but the huge s sen of demand for inasastrture, for basic needs is a completely differenent oror than the d devopopedworld, wher soucuccapacity has been createdn housing and d vaouous ododuc. t thagives us a cushion for one or two yes. bubut if the p proemem sustains loloerer, body knows. >> what about orascom constructionon iparticular?? you operate all t toughout the middle east, ppaktatan, iraq. first and quickly, how is business? is it still growing, a a by how ch? >> infraststruururbusiness is growing this year exceptptnanal we.. gogovements were quick to adaptt more stimulus plans a bngng forwarard memef the projects ey were going to do anyhow i in 2010 or 201111. so by brbrinngng tm forward eyey'rgetting a better deal. commodity prices arere lower. and they're actualally stimulatg the economy. alsosoaa new developopme i in e

reonal -- the introductioion o public-privatete partnershipip r concessisioninin utilitieie soso even inaudi arabia, wer pltstsre now being built by y the private sector.. the same in morocco. the same iss coming toto egypt. so that't' so another prorodu of d devopopme in the region, ththatououe not limited by the balance sheet of thehe vernment. >>ndnd lasas but not least,t,n u u ga jim c crarr his positive sisign but before go, ough, briefly, i know you d d busines in iraq and alonghehe bordrder with i in.n. iran's a a b ticic here.. iran is big business opportunitity,snsn it? >>t's a great business opportunity. huhu population, great reresoces. anii think on th topic a transformationalal sp p s been tan by obama'sspepeh inn cairo. ththisororof created a veryy poposiveve buzuzzinin t middle east, about the m mide e st and u.u.s.relationonipips. and that w willalay the role in thth elections s in lebanono p d a rolele iththelections in iran, d has theeotential too g g ththato like a happy eininorort of. >> all right.

well, thank you so much. >> thk you. >> nasef awiri isivivin jim amer the ray of hoperr green shoot he was looking for asas w said. thrichest man egypypt. nenext lebronn james challengeg any ceo hereoo a one on e. ere are so many jokes wewe could ma here aboboutelelive height differences. i i ll refrain from doing that.. but didid yoyone take him up on hihis offer? we have more on thee inside stoy here from sun valaly.y. some of the best g gosp.p.

as all knkn, onee o them still is eded. there arare lot ofasasciting and largrgerhaha life rsonalities and characacrsrs here in the medidia world. julia boororinin focuses on ata among other things, , d d yove been talkikingoo everybody who' here. know you've had chance to catch upitith e chief of twititteamamon othersrs but i waeded to s sta with the big star here.. > tig star, erin. haha to say, b bil gates may have thehe mtt security y nyone rerebut thebiggest star is lebron james. i anan, everyrywhee this man wawas his surrounded by cs.s. you know,, evyone from the media molslso thefinanciers.. antotoy just aut an h hrr ago i heaeard a couple peoplplasask ifif hwawant to play golf this afternrnoo a a he said that he was bubu but he might gf tomorrow. so m mn i'm sure lebron jameme is great golfer, and i can't imagine thatat these guys cocod beat him. >ut none of themavave t t

rvrve say one on ne. playing horsrs with aabody?? ththatououlde an azazingame to watch. w whehe arrived yesterday, i i asked him if he would be upup f y y these pickupgames.. he said absolutely-y-f y y ce want t tlay a pipickgame, sure, why not? but i h hav't'tound a basketbtbl court hehere i'll have e too o around looook for itit. >> you know, at's a really good point. i haven't t thther so what else?? like i saidid, you t tkekedo twitter, and letet j jusput this one toto rttr not pu it to rerest evererodody'all atwitter about twititr r ando people wt t bubuyfwiter and twitter this dd twter that. what did you find outut? >> 20 minunuteago ias talkiking to howard stringer ceo of sony and he said he's's n iereresd in sociaia media. the quote is "tt is a club i do not w wantiti part of."." and h he was actually askeked specifically aboututysyspa and whhehewas going to be terested in buying myspace. t twitter i iththe t topic here. no o one seems ierested in bungngit. i thinkkt't'sfascicititing je bewkesas talkiking to m about it last nighgh it doesn't have a rerevee e stream. i think people are gogog g to keep an eye ononit. it soundsikike the ceosn't

loing to sell.l. an itit j jusgoing to be one of ththe companies we'll haveve t watch. > jia boorstin, thank k yo very much.h. probably fits into that broader ememe jeff zuckerras sasayi,, everyonene he e wies they were kiki more money on the internet than they actually are. ich continues to be big issue here thissear and no doubt it will beben n thyears to come.. all right. coming up,p, f fewinal thoughts frfr the meeting here in t the mountains. 'll be right back. ??x@

whwhitatat rafting or yoyo.. whicich llllt be? let us know whwh y y think. stetetgns@cnbc.com. wewe'ltell you on monday. in the metiti, te e r "the clclosg g be." >> this s cnbc.com news now. > > geral mototo veteran bob lutz will s staatataumaker dedefitely but in aewew exutute role. raer than retire as previously announced. > a bankruptcy couourt judge has denied a a ruest to