Squawking From Sin City to the City of Brotherly Love
"Squawk Box" hit the road this week from Sin City to the City of Brotherly Love covering you from tech to green. Think of this "Talking Squawk" blog as your business caddie as we walk the Wall Street course and look back on the week that WAS and look ahead to the week to COME on the show.
The View From the Green
We took the show on the road Friday and hit links at the US Open at the Merion Golf Club outside Philadelphia.
Heralding from the local top-tier business school, Jeremy Siegel, professor of finance at Wharton, is looking for the Dow to finish the year between 16,000 and 17,000. However, right now he said that next week's Fed meeting "is really going to be key." Siegel was dumbfounded by how so many in the market are acting like higher rates will happen in the near term. "It's not going to happen tomorrow," he said.
Check out what Siegel and Barclays' Barry Knapp think about the upcoming Fed meeting in this video.
The Welch Way
Jack Welch is the master of management and Squawk's very own business guru. We love 'em and can't get enough of his "Straight from the Gut" take on the world. Check out his observations about the IRS and its similarities to some other government agencies (story and video). And his take on splitting the role of chairman and CEO was classic Jack (story and video).
She made eBay a giant in Internet consumer-to-consumer commerce. Now Meg Whitman is trying to turn around one of the America's iconic names in the world of technology. "Squawk" co-host Becky Quick went to the HP Discover technology conference in Las Vegas to hear firsthand how she plans to do it. (story and video)
He sits on the boards of Hewlett Packard, Facebook, and eBay. He co-authored "Mosaic" (the first widely used search engine). He co-founded "Netscape" before I knew what the Internet was. If it's buzzing in Silicon Valley, you can bet he knows about it. Check out his wide-ranging take—everything from HP to Groupon to Zynga (video) to the NSA (story and video) with Becky at the HP Discover technology conference in Las Vegas. He also said he feels "naked" without his Google Glass. (story and video)
Everybody Remain Calm
Facebook held its first shareholder meeting since its IPO. The stock is down 37 percent from its debut. When pressed by investors, CEO Mark Zuckerberg said, "[Nothing] has made me really think the fundamental strategy is wrong or that what we're building isn't valuable."
If I were 29-years-old and already on the Forbes Richest list with a net worth of $13.3 billion, I guess I wouldn't worry about it either.
Stories That Won't Go Away
Herbalife says 3.8 percent of the population had bought its products in the last three months. Hedge fund giant Bill Ackman thinks Herablife is a Ponzi scheme. We think the other 96.2 percent of the population is sick of this story.
Joe Kernen: "We are going to the US Open Friday."
Andrew Ross Sorkin: "Yes but I hear it's going to rain. I hope we have a tent."
Joe: "What? You have a tent pole?"
Inside the Labs at 3M
You probably know 3M from some very common household products they make, like Post-Its, and Scotch Tape. But 3M is much bigger than just tape. Check out this video of some very cool new ideas it's working on that make you say, "Damn, I wish I thought of that!"
The CEO of 3M joined "Squawk Box" live this week. Here's a link to the interview. (video)
Tweets of Note
(In response to Joe's on-air comment to guest host Jack Welch about why wife Suzy hadn't tweeted that morning.)
Joe has a new bro-mance: Kyle MacLachlan of "Twin Peaks," "Sex and the City," and "Desperate Housewives" fame.
Must Follow Them @
Overheard on the Set (anonymous conversation)
"Does Joe Kernen usually sit here?
"Cool, how can I mess around with his email?"
The word Jumble was suspended this week. Becky was on the road all week, and Friday we were at the US Open. Let's give them both a weekend practice word to keep them fresh for next week's return to competition.
Joe's bonus Jumbled word of the week: OSBALTOSR
Becky's bonus jumbled word of the week: ULITLEHSGO
*Answers at the end
If The Dead isn't your thing (a little too mellow maybe?), then check out @OfficialSabbath. This week, the metal band released its first studio album since 1978 with @OfficialOzzy! (Now's that's back from the dead!)
Mark Your Calendar (or Set Your DVR)
- Monday: Boeing Chief James McNerney, Live from The Paris Air Show
- Tuesday: Scott Sperling, THL Partners co-president
- Wednesday: Ken Langone, co-founder of Home Depot
- Thursday: John Stumpf, Wells Fargo chairman & CEO and Frank Calderoni, Cisco CFO
- Friday's Health Care Summit: Mark Bertolini, Aetna CEO and Dr. Toby Cosgrove, Cleveland Clinic CEO
Federal Reserve policy makers meet next week and investors are hoping for some answers on when the central bank will start to taper its $85 billion a month bond-buying program.
(Read More: Heeere's Bernanke: Time for the Fed to Be Specific)
*Joe's Jumble Bonus Word Answer: OSBALTOSR=albatross
*Becky's Jumble Bonus Word Answer: ULITLEHSGO=lighthouse