marcus: of course. the decisions are basically the structure of the governance is one where there are certain things which should be hard to importantd those are things to the spirit of how the network is supposed operate, the spirit in which the reserve is supposed to operate. i believe when it comes to the reserve, we will need oversight. senator: will there be a constitutional body of rules that would be agree to ahead of time that would guide the decision-making? mr. marcus: yes, and it will be made public. senator: and how do you look at minority rights versus majority rights versus majority writes on the board? mr. marcus: as it stands, the every member, will have equal voice. senator: what if there is a disagreement? automaticallyy overwhelmed by the majority? mr. marcus: it will depend on the type of decision. not all decisions will need super majority. senator: so it seems to me possible on any board or group me thats, it seems to there is a big question about how every voice is going to be hea

marcus. you may proceed. >> thank you, chairman. chairman, ranking member brown and members of the committee, thank you for the opportunity to appear before you today. my name is david marcus. life i have been an entrepreneur, building products aiming at improving people's lives. for many years, my focus has been financial services. i became paypal's president after it acquired my start up and i moved to facebook five years ago to run messenger and more recently to lead blockchain efforts. in my written testimony i describe the mechanics of libra. today i want to explain why i am optimistic about what libra can offer the world. before i get there, i want to make clear, we recognize we are only at the beginning of this journey. federal reserve chairman powell has said publicly that the process for launching libra needs to be patient and thorough rather than a sprint to implementation. secretary mnuchin reinforced those views yesterday. we strongly agree with both of them. we will take the time

marcus: yes. >> if i don't the dark web and start offering to trade that, to have any technical way of stopping me from doing that anonymously? mr. marcus: yes. there are on and off ramps and all of the on and off ramps are properly kyced. >> all of them. so once a large fraction of libra would be transferred into self custody and there starts to be significant flow among the self custody entities on the dark web or other places, how do you prevent that from actually allowing things like ransomware? mr. marcus: a very important problem and the way we are tracking and the way the soociation will enable tools that law enforcement and the different wallets can understand where the movements are happening to prevent those issues is going to be one of the ways we'll will address this. going to have to be absolutely dependent on the fact that every single wallet is in a regulatory regime that we trust. is that right? if there is some wallet that does not follow the u.s., are we just out of luck, and tha

>> absolutely not, marcus. [laughs] >> so what i think you have to think about is my ability to add margin to the current business, pays for itself immediately. my purpose is to invest in the company, and in the people, and in the process, and in the product so that this business can be built from a $4 million company to a $10, $20, $40 million company. >> yes. i know for--i know it would be no problem for me. >> nancy, how about you? >> well-- >> nance, i think with marcus onboard-- >> and no money in our pockets? that's kind of-- >> listen, i'm not saying it's the greatest deal and all. but on the path we're on now, it doesn't work for me the way it is. so i'm willing to go down a different path. >> 50% is not good for me for 500 grand. the way i feel is, i don't want to be left with 25% of the company. you know, we started it from the bottom. i just-- >> she can play hardball all she wants, but here's the deal. if i give up more percentage, i go home and collect the check, and i'll go do something different.

-marcus. -lemonis: hi, guys. with some major changes to the burger and the building, i feel like we're making a lot of progress. i just want to make sure that we stay that way. this looks a lot better. as you went through this process of cleaning this place, what did you learn? sammy: i think we had a good start. tranchina: yes. and we need to get back to basics, yeah. sammy: we went off track a bit, 'cause we used to stay two hours past when we were closing to make sure the floors were scrubbed down and things were put back together. -lemonis: what is that? -sammy: that's a camera. lemonis: there's one in here, too? sammy: yeah. todd: you know why? 'cause we're having people that walk out with product. lemonis: who put the cameras in originally? todd: the cameras were here from day one. fuji: there were more added cameras... -lemonis: they added more after? -fuji: ...and more and more. lemonis: and who added them? fuji: it was between covello and todd. lemonis: fuji, i have to ask you -- every time this camera t

hank, i'm marcus. >> marcus, nice to meet you. >> nice to meet you. how are you? >> thanks for coming by. doing well. thank you. >> you've got a beautiful shop here. >> thank you. >> lot of history. >> a lot. >> by the way, that's a killer picture of your dad. >> thank you. >> when you took over officially--your dad passed two years ago? >> yes. >> is that when you officially kind of stepped in? >> yeah. >> how much money will this business lose this year? 100,000? >> no. less. >> and last year? how much did it make or lose? >> last year was 20,000. >> 20,000. and the year before? >> a loss of 20,000. 40,000. >> and if you had a couple bad months and you ran out of cash, what do you do? >> get a loan from the officer. >> your mom? >> yes. >> okay. and how much would you say she's put in here in the last... three years? >> probably close to 200,000 as loans. >> is that the only debt on your books? >> and we've used our line of credit at the bank. >> how much is that? >> 100,000. >> that's tapped out? >> yeah. >> over the years i've met a lot of second-generation bu

bernie marcus has funded $135 million for the marcus institute, the shepherd center in atlanta. the list goes own and on. the direct impact that bernie marcus has had himself. but if you take that away, a company that he's no longer involved in has given away a half a billion to help fund veteran home remodels and accessful homes. they do a pay gap that the employees oversee. so there's a lot there. a lot that doesn't get bragged about. >> charles: you're right. what struck me is the idea that took the v.a. two years to reimburse you. imagine if the marcus foundation wasn't there in the first place how much more desperate your life would have been. we're a very giving country, the most generous country in the world. a lot of people do this without any fanfare. the idea that because bernie marcus has a candidate that he likes and supports, that people are willing to hurt or attempt to hurt financially this business. by the way, it won't hurt bernie marcus or the other rich people or executives. it will hurt veterans that are coming home and getting jobs at home depot, wouldn't it

marcus: definitely. we are seeing worrying signs from china both of economic level, weak manufacturing data. but but also, the corporate level. the challenge for us is really to discern between those companies where trade is the dominating factor. those companies where trade should in many ways be seen as an excuse. we have seen this in the past. manus: one thing that you make a very clear point about is under loved and under owned. something which lucy, one of ownedompatriots, under and under loved. what is the turning point to get global investors to reach a recap -- we participate? restarting qe, what is the turning point? marcus: it has been difficult in recent years, but i think the challenge is really accelerating growth. for the last probably seven or eight years in europe, we have only seen one year of material earnings growth and that has been one of the big fresh traders in the region. particular when juxtaposed with a very strong growth in the u.s. corporate market. fortunately, one of the ups

-sandy, this is marcus. -sandy: hi. lemonis: hi, sandy. i'm marcus. sandy: it's a pleasure to meet you. shauna: sandy's in charge of all of our candy and merchandise. lemonis: and so your full-time job is the candy store? sandy: no. h.r., payroll duties. this is last on my list. -lemonis: yeah. -sandy: yeah. lemonis: i've never seen a candy store or any retail business that has its h.r. director running the merchandise. i guess i shouldn't be that surprised. if they don't see the importance of having their ice cream be special, why would the candy be any different? it's a nice attempt at a theme, but i'm not really sure that the theme's clear to me. when you walk in the front door, it looks like they went to the local convenience store and just said, "give me some lollipops and some sweet tarts." it's not nostalgic. there's nothing really curated. and what's this -- all this bacon? why do you have bacon cotton candy? sandy: people like bacon right now. same thing with the bacon soda. lemonis: i mean, i know the craze with bacon, but how does it connec

i'm marcus. doug: marcus. i'm doug. lemonis: oh, hey, doug. how are you? doug: nice to meet you. this is my wife, cristine. cristine: cristine. lemonis: how are you? nice to meet you. this is a nice place. doug: yeah. thank you. cristine: thank you. lemonis: is this place pretty busy? doug: it's building. it's growing. cristine: it's growing. lemonis: i notice that the menu's a little different. cristine: yes. doug: we have a smaller version. so, we don't do 20-inchers or 18-inchers. lemonis: how come? doug: the 12- and 14-inch -- they're easier to make. they take up less space in the oven. 20-inchers are kind of a hassle to then put on your franchisees. lemonis: dino led me to believe that the second location is a total disaster. "they don't know what they're doing. the place is a mess." but i would argue strongly that some of the small tweaks that doug's made, like the menu, actually made the experience better. lemonis: how is this business treating you guys? cristine: good. doug: it's good. lemonis: what does it do in sales? doug: last year was $270,000. lemonis: but it's new.

i'm marcus. matt: hey, marcus. matt. lemonis: first off, we're gonna stop serving that weird refrigerated bread, and we're gonna serve up something with a twist. so i brought dave to milwaukee pretzel company. katie: right over there, that's our mixing station. after it comes out of the mixer, it goes through our divider/rounder, which cuts it into pieces. then it comes through this machine, here, and turns it into a string, and then we have twisting and shaping. lemonis: you might think homemade bread is cheaper and more profitable, but baking our bread, we're using a ton of labor that we could use somewhere else. by serving these pretzels, we free up our labor, and we're able to add something to the concept that increases the perceived value of the menu, giving us the ability to raise our prices. dave: i like it. lemonis: you're open to that? dave: oh, yeah. lemonis: i also wanted to take dave to maglio's, one of the largest produce suppliers in all of wisconsin. sam: first process that they're doing here is picking ou

for example marcus. well let me make an observation. i have long felt that this sense of anglo-saxon superiority is not just imbedded in the conservative can't imprison it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony on call and that is a british system so that just reinforces a lot of help feels like that this sense of anglo-saxon superiority luns through the book that runs through the brains of liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the problem is it

for example marcus. well let me make an observation. i have long felt that this sense of anglo-saxon superiority is not just imbedded in the conservative camp in britain it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony of hong kong and that is a british system that just reinforces a lot of help feels like that this sense of anglo-saxon superiority luns through the books runs through the brains of liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the problem is it i

what consume david marcus head to facebook's libra subsidiary kelly for a face to panel of senators who weren't prepared to pull their punches that facebook is dangerous. after all the times facebook is abuse the public's trust and you know that you really think people should trust facebook with their hard earned money trust us primordial and we've made mistakes in the past and we have been working in our continuing to work really hard to get better central banks worldwide have raised concerns that lever could become a rival to sovereign currencies david marcus out and out tonight that was facebook saying and promised the senate banking committee that the cryptocurrency would not be in anyone's digital wallet until global regulators was satisfied we will take the time to get this right we expect the review of libor ought to be among the most extensive ever we are fully committed to working with regulators here and around the world and let me be clear and unambiguous facebook will not offer the libor a digital currency until we have fully addressed regulators concerned and received for p

with the stadium chores done marcus heads back to the hotel to pick up the players and good time. victims a part of the biggest worries getting bank here on time still makes me slightly nervous i don't want to be late and i'm pretty much routine i'm going to be home around all sort of asked why don't you as a. woman signorelli do enough 4 hours before kickoff norbit declare arrives at the stadium you know the routine inside out for that special every time. when a man when i stop getting nervous that's when i'll stop doing it straightaway herself. last week i think you should be a bit nervous when it's your job to communicate with 80000 people. a job he's been doing at birch adult men since 1992. students 127 years if there is folk on the south terrace think i've been doing it since 99 and i've never seen anyone else there. and you can't separate an old footballer from his match day rituals commercial chances are the greatest of all the last time we won sight of their own judge again. without a script or feelings although i always have a little energy drink to belmont if it. also o

marcus? currently, the full responsibility to file suspicious activity reports are on our banks or other money service businesses which law enforcement uses to investigate and prosecute criminals. and in your july post, you spoke only after the ability -- of the ability for these law enforcement and regulators to conduct their own analysis of off the chain activities. so do you feel that this represents a shift away from libra's own responsibility to monitor and enforce anti-money laundering or can customer protections? >> no, congressman. the reason i wrote this is that that the approach that libra is taking is using a block chain, and block chain gives additional visibility to law enforcement and regulators compared to current system to conduct their own investigations instead of solely depending on banks or regulated entities self-reporting. but that doesn't mean that we on the calibra wallet side and all of the other members operating on top of this network will not have very strong progr

business report i'm stephen beard's in berlin thanks for joining us facebook executive david marcus told the new york times last month that the company's new cryptocurrency libra could be quote a profound change for the entire world and quote on tuesday markets delivered a much more subdued message to u.s. lawmakers libra wouldn't threaten the current monetary system and it wouldn't seek to replace sovereign currencies senators were skeptical to say the least take a look consumed david marcus head to facebook's libra subsidiary kelly for a face to panel of senators who weren't prepared to pull their punches or facebook is dangerous. after all the times facebook is abuse the public's trust and you know that if you really think people should trust facebook with their hard earned money trust is probably more due and we've made mistakes in the past than we have been working in our continuing to work really hard to get better central banks worldwide have raised concerns that lever could become a rival to sovereign currencies david marcus out and out tonight that was facebook's aim and promise

for example marcus. well let me make an observation. i have long felt that this sense of anglo-saxon superiority is not just imbedded in the conservative camp in britain it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony of hong kong and that is a british system that just reinforces a lot of help feels like that this sense of anglo-saxon superiority loans through the books runs through the trains all liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want the irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the problem i

for example marcus. well let me make an observation. i have long felt that this sense of anglo-saxon superiority is not just imbedded in the conservative camp in britain it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire at the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony of hong kong and that is a british system that just reinforces a lot of help feels like that this sense of anglo-saxon superiority luns through the books runs through the trains all liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the problem is

tad: thank you, marcus. lemonis: look, i've told the team that they need to to upgrade their game when it comes to presentation -- the tables, the signage. and tomorrow's going to be our first test. what is tomorrow's event? tad: barbecue at a chevy dealership. lemonis: so i brought everyone to an auto-parts store simply to get inspiration and some props. tad: i'm just thinking of something for the front. lemonis: see, like, look. tad: yes, yes, yes, yes. i love it. for the signs, let's get a few of these. man #5: yup. tad: i'm gonna get like four of these, because we've got a few salads. man #5: real quick, so how many of these do you want? tad: maybe six. man #5: yeah. lemonis: for me, catering is nothing more than putting on a show. it's theater. and the more memorable we are, the more business we're going to attract. tad: okay. lemonis: all right. tad: let's head back to the shop. tad: okay, bye. lemonis: all right, guys. yeah, let's go. tad: i think we got some good stuff. ♪ tad: mikey, give us as muc

trevor: hey, marcus! lemonis: one of the things that i thought we could talk about is what the plan and the process are gonna be. we're gonna rebuild a brand using social media, using packaging, using product development. my biggest concern is, i don't know what your story is today. we probably need to go back and make a brand-new generation-one watch. and it needs to be something different and proprietary that nobody else can get to. we're no longer gonna downplay the fact that this company has a mission. in fact, we're gonna amp it up. we're gonna get back to the 10 colors and the 10 charities, and then we're gonna add some things that make it even more unique. all right. let's go to work, guys. trevor: beautiful. ♪ karlo: hello, guys. welcome to shiekh. lemonis: how are you?! karlo: how you doing? lemonis: i'm marcus. karlo: my name is karlo. nice to meet you, marcus. lemonis: are you the manager here? karlo: yes, sir. i'm the store manager. lemonis: one of the things that the guys need to think abou

marcus: if you are a u.s. resident and want to use a wallet, the wallet operating services in the u.s. will have to be properly regulated in the u.s.. >> we will have to have an ongoing discussion. i would like to mention cybersecurity. one of the main jobs of have stock is to oversee cybersecurity. you have seen fit to make a new programming language and i spent a little while looking over that. there is some creative stuff in it. some of it is copying things that have been done before, some of it is brand-new. even if it had zero creativity, there would still be a problem that one wrong line of code could generate a whole that would crash the entire libre system. that would crash the entire libre system. i understand you will be distributing runtime executable and things like that so that all of that has to be bulletproof for cybersecurity. i was wondering how you would deal with the governance of that? mr. marcus: two ways. we agree with you that this is of absolute importance. the way we are dealing with t

of your business report i'm stephen beard's in berlin thanks for joining us facebook executive david marcus told the new york times last month that the company's new cryptocurrency libra could be quote a profound change for the entire world and quote on tuesday markets delivered a much more subdued message to u.s. lawmakers libra wouldn't threaten the current monetary system and it wouldn't seek to replace sovereign currencies senators were skeptical to say the least take a look consume david marcus head of facebook's lever a subsidiary for a face to panel of senators who weren't prepared to pull their punches or facebook is dangerous. after all the times facebook is abuse the public's trust and you know that you really think people should trust facebook with their hard earned money trust this primordial and we've made mistakes in the past and we have been working in our continuing to work really hard to get better and central banks worldwide have raised concerns that libor could become a rival to sovereign currencies david marcus out and out tonight that was facebook saying and promised th

marcus. i'm sorry. this is conservative. it looks like you went to the grocery store and bought everything. well, rene did that. rene also came with the room. this phone is just for you. my own private butler, on call 24/7. how many rooms are you handling right now? just yours. one per room? dedicated to you. yes, sir. lemonis: but i didn't want to stay in my room. i'm here for the action. -welcome. i'm martina. -nice to meet you. so, this is roulette. do you know roulette? -you're gonna explain it to me. -i sure will. how about -- do you have a rewards card with us? total rewards? i do. watch out. -all right! -there it is. my first dollar on the diamond card. i asked martina for a quick explanation. so, you can bet on one number. that pays 35-to-1, by the way. okay. you can bet on two numbers, which pays 17-to-1. you can bet on three numbers, 11-to-1. four numbers, 8-to-1. this is the only spot on the board for five numbers, which pays 6-to-1. lemonis: honestly, i had no clue. or you can bet

marcus, i read the white paper. i understand the nature of digital currency and digital technology. ?hat is a libra >> congressman, libra is a digital currency. a reserve-backed digital currency. >> is that a security? >> we don't believe it is, congressman. >> is a commodity? based on current u.s. law, i believe it might be a commodity but we see it as a payment tool. >> is it a an exchange traded fund? >> it is not. >> it is none of the above in any pure form, like other digital currencies, correct? >> is designed to be a payment tool. above inis none of the our current regulatory structure, what i'm getting at is how does it comply with regulations? >> congressman, the way we comply with regulations is in a number of ways. as far as the calibra wallet is concerned, it is registered as a money services business with treasury. it is applying it has received a number of state licenses and will operate the same way other wallets operate. as far as -- >> i am asking about libra. >> as far as the libra association is c

marcus. following up on some of the previous questions, what's in it for partners not to entrench facebook or their own market powers participating in this coalition that you've assembled? >> .. that they are merchants and as a result we will have a business opportunity to do so when you think about the companies like uber and lyft that will be able to not only reduce costs for accepting payments but also a number of their drivers when they get paid and send money back home and taken have a lower cost for them. >> okay, tell benevolent. let me change gears briefly. the senator has noted in a private conversation he's had with some of the 27 members of the libra association. the association includes companies like uber mastercard as well as non-profits like facebook and mercy corps. facebook has portrayed the labor association is a collective and facebook is one of many voices in this but as schatz revealed facebook's voice is more like the godfather's voice in the family. it's true it's one o

marcus. gave the federal reserve increased oversight. we do not yet know will what you are. will you submit to house oversight? the libra association and culebra have no interest in engaging in banking activities. we will be active in the payments space like many other nonbanks are active in the payment space. we will of course comply with all regulations. >> we want to make sure that companies do not fall into this regulatory authority cannot threaten the financial system. according to the libra association white paper, members of the libra association will consist of geographically distributed endeavors services. by what criteria were the initial members of the association chosen? >> thank you for your question, congresswoman the way that the initial members pointed was the result of a wide outreach, a combination of companies that can accelerate the acceptance and utility of libra. companies like uber, lyft rideshare, and specify, accelerating the acceptance of libra within current social

jeff: thanks, marcus. lemonis: you got it. taylor: thank you, marcus. lemonis: when i write this check, i really am 100% in charge. jeff: thank you, sir. taylor: thank you. lemonis: congratulations. jeff: thank you. lemonis: so i'll see you back at the shop, okay? taylor: okay. jeff: sounds good. lemonis: all right, everybody. ernie: good to see you again. lemonis: i thought we could get some of your staff together, and let's give everybody a summary of what's happening so that people aren't in the dark. for me, the first order of business is gathering the franchisees and letting them know exactly what's happening because if they're not on board, we might as well shut the door. jeff, where is -- where's taylor? jeff: that, i have no idea. lemonis: okay, okay. so, i wanted to let everybody know, jeff and i made a deal for me to invest $350,000. that money will be used to develop a one-store, singular concept that we can all say, "okay, this is what the model is supposed to look like." new product offerings, and we're gonna change the name. tea 2 go feels

and it's back to the changing room duty for marcus and his colleagues it takes a couple of hours. solid effort to get everything shipshape. them by using your income while the guy some of the stuff in there happy that's my job done and i'll let them in paying with us and i think us about enough from the way people were much thanks i keep a lot more and a lot don't know what. the players have all they need for the jewel with this with all of it's very clear the markers boy is an integral member of the glove box team . the i'm going up with some say he's the bus driver others call him the kid manager for me for me he's motivational coach mentor and more. and we get along really well. so he's as much a part of the changing room as. he's so many sides to so many good qualities and really nice guy. in shorts he's something of a father figure to the play a relationship that naturally gives rise to its own little conflicts. and even with the canoe and the music they listen wouldn't really be my thing but i accept i think you know given the government always has its advantages my daughter

then is back to changing room duty for marcus and his colleagues it takes a couple of hours. it was solid effort to get everything shipshape. if you will come when a guy some of the staff when they're happy that's my job done i don't leave them in pain with me i think us about enough for the way. i keep a low price. for the work. the players have all they need for the jewel would just hold off it's very clear that marcus boy is an interim ember of the club but. some say he's the bus driver others called him the kit manager. for me he's motivational coach mentor and more. we get along really well. so he's as much a part of the changing room as off. he's so many sides to so many good qualities and it's really nice guy. in shorts he's something of a father figure to the play a relationship that naturally gives rise to its own little conflicts. with the canoeing the music they listen to wouldn't really be my thing but i. give it a god has its advantages.

marcus. as jim said, he's got to come up with a new nar thifr they commented how many questions the chairman got on libra during his testimony in front of both house of representatives and senate and senate banking today we'll see what mr. marcus has to say. it should be interesting to see if he can rebut this remember, it is just a white paper. they have not rolled out the product in any way at this point. certainly they will take in commentary and perhaps change the approach accordingly. >> i keep hearing a suggestion that facebook has rolled this out not to make sure they are meeting regulatory requirements in countries around the globe but also to detract attention away from the privacy concerns that are being brought up. let's get over to elon at the hearing now. what are you hearing >> reporter: that hearing has just gotten under way. i expect republicans and democrats will have detailed questions. the chairman will focus on privacy and data protection asking questions like what type of

the first to be baked over the raked over the coals, facebook's david marcus was the -- david marcus. the co-creator of the cryptocurrency project. senator brown: facebook is dangerous. now, facebook might not intend to be dangerous, but surely they do not respect the technologies they are playing with, like a toddler who has gotten a hold of a book of matches. their motto is to move fast and break things. we would be crazy to give them a chance to experiment with people's bank accounts. david: we will take the time to get this right. wouldn't it be easier and safer if people could inexpensively secure money transfers through their smartphones just like they do for so many things today? that is what libra is about. >> i do not trust you guys, so instead of cleaning up your house, now you are launching into another business model with calibra. david: we have designed this network so that facebook does not and will not control currency. >> will you commit that facebook will not develop preferential incentives that unfairly help calibra, in terms of whatsapp and messenger, that they will

marcus play for glass back him self up to reserve team level alongside a 7 stefan f. and. they are there but i thought i was a bit younger and i have to help our few times i know him well from back then. he met a few in tina just before i became kid manager here when he 1st came back that i thought he was like an older human by the don't long ago. today glad but her rylan rivals. and very good manager of the parts also has a thoughtful gift for his opposite number. thank you and this is for my former youth team coach here sadly suffered a major struggle he's a great deal. and he's always bugged me to get one of these shirts i'll give it to him tomorrow he'll be delighted. when i'm going to my pleasure. then it's back to the changing room duty for markus and his colleagues it takes a couple of hours. solid effort to get everything shipshape. the number of years in fuel from when the guy some of the stuff in there happy that's my job done and i'll leave them in pain without a movement i think us about an after the when. i keep a low rider along with the one who don't know fo

i'm marcus. i'm blown away by the interest that we already have with the concept, but closing a deal here today will give us real momentum. we've gotten a lot of applications -- almost 800 -- since we kind of launched the concept. and so one of the prerequisites we have is that there's significant restaurant experience. do you have it? -john: sure. my wife's family has been in the restaurant catering business for almost 50 years. i have a background in design and construction. lemonis: well, clearly your background is qualified. why don't we take a look at the menu board? john: you've got five burgers. are there other things than just burgers? i know it's standard burger, but... lemonis: is there something specific that you'd like to see on the menu that you feel is missing? john: i think if you add a kids' menu, i think that would be helpful, because i've got three children. if we're gonna bring the kids for lunch or dinner, you kind of want to see it on the menu. lemonis: i wouldn't be surprise

for example marcus. well let me make an observation. i have long felt that this sense of anglo-saxon superiority is not just imbedded in the conservative camp in britain it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony on call and that is a british system so that just reinforces a lot else feels like that this sense of anglo-saxon superiority luns through the books run straight at saints or liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want the irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the problem is it it'

then it's back to the changing room duty for marcus and his colleagues it takes a couple of our. was solid effort to get everything shipshape. by using your income while the guy some of the stuff in there happy that's my job done i don't leave them in pain without them leaving i think us about an after in the way. i keep a low bar that often oh i'm sure how you don't know for sure what. the players have all they need for the jewel would just hold off it's very clear the market boy is an integral member of the club but. i'm backing up with some say he's the bus driver others called him the kit manager for me for me he's motivational coach mentor more. we get along really well. he's as much a part of the changing room as off. he's so many sides to so many good qualities and really nice guy. in shorts he's something of a father figure to the play a relationship that naturally gives rise to its own little conflicts. with the canoe and the music they listen to wouldn't really be my thing but i don't give it a god has its advantages my daughter is 19 and warmer and the consequent chill

lemonis: i'm marcus. michael: marcus, i'm mike. nice to meet you. lemonis: mike? nice to meet you. what do you do here? michael: i'm just helping my cousin rachel out. lemonis: oh, very cool. michael: just giving her some advice on some financial stuff. lemonis: how you doing, sir? i'm marcus. david: hello. nice to meet you. lemonis: nice to meet you. what do you do here? david: i handle the sales and marketing for the company. lemonis: okay. how many different varieties are there? david: we've got nine traditional varieties and five gluten-free, vegan varieties. lemonis: okay. rachel: hi. lemonis: how are you? i'm marcus. rachel: good! i'm so happy to see you. lemonis: nice to meet you. now, is this the assortment? rachel: yes. our top seller is chocolate chip. have you tried the cookies? lemonis: i haven't. rachel: oh. lemonis: i love that they're crunchy. rachel: yeah, it's a crunchy -- so it's a six-month shelf life. lemonis: okay. rachel: but this is our snickerdoodle. lemonis: that one's good. rachel: yeah. do you like double chocolate? do you like peppermint? lemonis: yes. â

marcus, for joining us. let me just say, it strikes me as wildly premature for us to come to the conclusion that we have to act now to prevent what could be a very constructive inno investigation in financial services. i think there are tremendous potential benefits in block chain technology and cryptocurrencies. i can imagine, i think it's clear they could help us lower payment transaction costs, fi facilitate access to capital, provide other forms of currency that other forms have not. limited pickup as medium of exchange might be explained partly by the volatility of these cryptocurrencies and here we have, it strikes me as an interesting iteration maybe, including a mechanism to provide a diminished volatility, which is backing it with a basket of currencies. so -- so i just think we should be exploring this and considering the benefits as well as the risk and take a prudent approach, but to announce in advance that we have to strangle this baby in the crib i think is wildly premature. let me ask a quest

for example marcus. well let me make an observation. i have long felt that this sense of anglo-saxon superiority is not just imbedded in the conservative can't imprison it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony on call and that is a british system that just reinforces a lot else feels like that this sense of anglo-saxon superiority luns through the books runs through the trains all liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want the irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the problem is it it's

erica: that's my husband, andre, marcus. lemonis: i'm marcus. andre: hey, marcus. lemonis: nice to meet you. andre: nice to meet you. lemonis: you here to help us? andre: yeah, sure. every once in awhile, i come and help out. erica: he's been here, like, three times. ♪ andre: she's been running the business for five years, and the profitability is close to zero. it's not ran efficiently. and the margins are slim. lemonis: are they? andre: yeah. lemonis: what are they? andre: i don't know what they are, but i know -- lemonis: so, then how can you say that they're slim? andre: well, i mean, i know that she always needs some money. lemonis: so, is that the margins that are wrong? andre: i think it's the mar-- i think she also miscalculates. i used to do this full time, so i know for a fact that -- erica: andre, you never get -- lamarinette: how many years ago? erica: part time. andre: no, i did it almost full time 'cause i worked -- lemonis: so, your calculations are off, too. lamarinette: almost full time. erica: your calculations are off! ♪ lemonis: to be honest

anna: marcus, this is susana. lemonis: oh, hi, susana. susana: hi. lemonis: marcus. susana: hi, marcus. nice to meet you. lemonis: how are you? nice to meet you. susana: yeah. lemonis: don't be nervous. you guys manufacture your own stuff? anna: yes. susana: yes. anna: we manufacture in our new jersey factory. sue is responsible for design, and i'm responsible for all operations and sales. lemonis: so you handle production and sales? anna: yes. i'm very capable. lemonis: that's interesting. susana: the front stuff is too emotional for me. anna: sue is the creative engine of the company. susana: yeah. anna: so we don't want to expose her to all the -- you know, all the unpleasant stuff. susana: i don't like to be in the front of things. lemonis: okay. susana: i like to be in my world working. lemonis: you're the artist. susana: yes. i just... anna: she's very -- takes everything very close to heart. and, you know, in operations, every day there is a problem. there is -- i mean, every second there is a problem. not every day -- every five minutes. lemonis: right away i

lynn: thank you, marcus. lemonis: i was always very focused at not messing with the charm of the shuler's location. but i do like the fact that i could take a piece of shuler's and spread it across the country. when i first went to shuler's, i saw lines out the door. a great product with great demand but small profits. the good news about this business is that the story's been great. but it's not over. we're breaking ground on a brand-new building that'll have a general store and an expanded bake shop for lynn. that should get done in the next six to eight months. while i fixed the flow up front and i added another register, customers are moving through the line much faster. and more customers through the line means more money. i know the additional seating on the deck will provide a significant increase to our revenue. and doing this to leave something sustainable for little shuler to take over one day has a special meaning to me. you were very comfortable with a stranger coming into your business and sugges

for example marcus. well let me make an observation. i have long felt a few that this sense of anglo-saxon superiority is not just imbedded in the conservative can't imprison it is also imbedded in the liberal camp in britain the conservative party its politicians and its members hold very dear to the british empire the liberal camp of course it's likes to criticise the british empire in some respects but when it comes to a country like china they will always play out what they think is the best form of rule for the former british colony of hong kong and that is a british system so that just reinforces a lot of help feels like that this sense of anglo-saxon superiority luns through the book that runs through the brains of liberals and conservatives alike in britain you know in the end where you know it's going to say the human advocating for common human rights a common humanity if you want the irrespective of national borders there's some virtue to this obviously to stand up for the democracy and you know civil rights of others but the

facebook executive david marcus defended the project. let's have a quick look now at the asia pacific markets now and how they are faring in early trade. currently all in negative territory with the nick shady lower, as with the lord's —— take a look at the nikkei. ,as the lord's —— take a look at the nikkei. , as are the lord's. —— all ords. this is bbc news. the top stories this hour: in washington, the house of representatives has voted to condemn president trump's racist tweets. four republicans backed the motion — with feelings running high. at least 180 people have died in torrential monsoon rains across south asia. millions more have been left homeless. 50 years ago today, apollo 11 blasted off from the kennedy space centre in florida. then, new generations of scientists have been pushing base exploration forward. among them, a group in surrey who have done more than 50 space missions in the last three decades. marc ashdown has their story. not as the land on the moon, but this is the science uk scientists are pionee

ana: hey, marcus. how are you? steve: marcus. lemonis: i own a restaurant franchise concept called the simple greek, and we're in need of a furniture supplier for all of our franchisees. so i'm looking for ana and steve to bid on the business together. we have one concept that's really taken off, and that's the simple greek. we have about 250 franchises sold. the last thing that's left to getting these franchises open is getting the furniture package right. and so i'd like you to lead the design process, ana. ana: okay. this is totally up my alley. lemonis: okay? i know that typically, you lead the design process. steve: yeah. of course, 'cause i've got more experience and i've been working in this industry for many years. i should be design, you be lead sales, hospitality. ana: i mean, i'm going to disagree. i am a designer, i'm a furniture designer, but, i mean, i think it should be a team effort, definitely. i mean, i would like to run things by you. steve: well, it -- it -- okay. lemonis: are you pissed off right now? you loo

guy: marcus, thanks very much indeed. bloomberg opinion's marcus ashworth joining us in london. let's get another take on this story. joining us from denver is janice henderson global head of fixed income. when you look at the european banks and try to understand how they will generate money going forward, what do you see? the environment is incredibly tough. the ecb is going to be cutting rates again. the data out of the euro zone economy gets tougher and tougher. how on earth are these banks meant to make any money? guest: well, they are going to make a lot less. there's just layers of issues here. i think we talked about the deutsche specific issues, but on top of that you have weak economic growth. europe is more bank centric, so you can't really see the competition waning at all. occurs you will likely see the ecb redeploy the same bag of tricks, and that means more negative interest rates, the flatter curve. i think the profitability picture is going to be a challenge not just for deutsche, but all european banks going forward. guy:guy: so what does european bank credit lo

lemonis: i'm marcus. howard: marcus, i'm howard. i'm the nice guy, usually, and this is robyn, my partner. robyn: i'm robyn. lemonis: hey, robyn, how are you? nice to meet you. robyn: nice to meet you, marcus. lemonis: so how long have you guys been in business? robyn: 20 years. lemonis: how did you guys get in business together? howard: we knew each other since high school. lemonis: okay. howard: best friends. robyn: this is my ex-husband. we have two human children, and bowery kitchen is our first child. lemonis: you guys are 50-50? robyn: yes, absolutely. lemonis: who's in charge, between the two of you? robyn: howie. howard: i would say me. robyn: only because it's just like howie maybe started the business, but i'm not allowed to touch the knife wall. howard: yeah. lemonis: this place is big. howard: yeah, we can take you around and show you. lemonis: i would love to see. how many square feet is it? robyn: 4,000 square feet. lemonis: it looks kind of junky to me. customer comes in, no directional signage. howard: "holy [bleep]