tv Maria Bartiromos Wall Street FOX Business April 27, 2019 9:00am-9:30am EDT
"strange inheritance." thanks so much for watching. and remember, you can't take it with you. a terrific weekend "wl street" begins right now. maria: happy weekend welcome to the program looking at the week that was i ever read bartiromo with a respected voice on the economy and then later in the program changed silicon valley forever and eric schmidt is here but first us economy smashed estimates in the first quarter 2019 going at a better than expected rate of three.2 percent boosted by higher
exports strong investor sentiment and business spending and intellectual property coming despite a government shutdown with the uncertainty over trade in a volatile and in 2018 admit story over a global slowdown. here to talk to me that all of the above kenneth it is a pleasure to see you. first reacting to the gdp numbers out on friday quick. >> i am an optimist on the economy that i did not expect this. we are growing at about two.5 percent. these numbers, and in terry's - - inventories they move a little bit but it obviously shocked people. maria: what stood out to me was spending on it and business spending because cap x has been scrutinized but if you look today they are
spending on technology and cap x that was u up. >> it's hard to know what that number means it is a bigger part of the capital stock but obviously the stock market think so with other it intensive industries. >> we have a global slowdown under way europe was lucky to slow one growing percent and president teethree made some interesting comments thursday night stayed we will protect it and provide more stock from the united states and open markets to foreigners it looks like the trade talks are yielding results. >> china has made a big deal we do things that our pace what we want to do and in fact, i think it is actually good for china because how would they have ai or dynamic
industries if they cannot protect their intellectual property. chinese say trump is the best thing that has happened to china. maria: the economy growing at 6 percent over there. do you believe them quick. >> who knows. there is no question their future growth is three or 4 percent they have a soft landing i am not convinced it is a downward slope. maria: will europe be an issue for the united states with the slow growth there although some executives told me they are seeing a bottoming out right no now. >> there is a cyclical aspect and a bottoming out but over the long term they look like japan the lack of ambition
, heavy taxes compared to the united states. what makes the us look so good is europe look so weak. maria: looking at the innovation of the united states because of the dynamism. you don't see that in europe. >> absolutely. they have more patterns but if you look closely their research teams are in the united states because they were taxed too much in the synergy with those doing research. maria: you wrote an op-ed on tech we have seen an incredible amount of breaches and privacy people think there is regulation coming. with an increasing number of people like twitter. >> there are so many issues media is one of them. they have driven media with newspapers looking more like twitter less like newspapers.
the privacy issue has to have regulation now there is surveillance capitalism? something has to be done. it doesn't have to be china but the government has to have a stronger hand. maria: what about 3 percent year even with a good first quarter i think we are headed to possibly headed the 3 percent a lot of my colleagues say no the population growth has slowed but there is a lot of catch up like mobility has been very low as jobs come that helps. maria: that's a good point. looking at the economy today the backdrop feels good quick. >> absolutely. and with 20 percent chance in
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common they were all meant toward by legendary leadership coach bill campbell. a 1 trillion-dollar coach to share how the late ivy league football coach went from the gridiron to coaching the best and brightest in silicon valley. i sit down with the book's co-authors who are google insiders like eric schmidt alphabet management advisor rosenberg so talk about the impact on the technology world. >>. >> bill was the best coach of teams we think the river was putting apple and google to the current extraordinary scale. maria: how did he do that and what was so important with his leadership quick. >> he emphasized management to
start being a good manager to understand your business listen wholehearted the be completely honest and then love people and show up and care about them. maria: it was about the people. >> there was a poster on his wall that said it's the people that went with suppor support, trust, respect after that then you can coach them and challenge them to do more in that collaborative world. maria: how do you do that i have worked with a lot of people in my career they come competitive you want to do something else the bosses want you to do something else how do you rally the troops to do what they are good at quick. >> the first thing that bill taught me is your title make sure manager but your people make you a leader. you have to earn their trust and to be captain of the team
running proper reviews and let your staff be proper. >> that was actually titles of one of the chapters what you just said most companies have a manager that nobody is acting to make it to a team. everybody is thrust into sales or marketing but nobody figures it out. but he coaches the whole team and inevitably they would be talented but with ego and ambition and disagreements the coach figures out a way to resolve those for the benefit of the team if you are coachable. maria: he had a real vision with technology.
>> how is he an okay football coach the greatest coast that ever lived in business? the rules apply whether you are technical or not in every industry. and businesses need coaches and teams need coaches imagine those political groups had a coach to resolve all the complex and those that are not working well together. so you have the people who talk all the time and then those who never talk. and then to call on those who would never speak and not for the consensus decision for the best idea as a team. >> look at apple so just ten
or 15 years ago with google but this is not the case when bill campbell first started. and then working together to produce great things. >> steve came back the second time the first boardmember he chose was bill campbell when the total market value was 2 billion now it is more than that. but then the communicator. and then that contribution. >> and with artificial intelligence and the machine answering questions were the phone or the smart car and
then with health care. and then can you assess how the ai issues work quick. >> is a young computer scientist ai was the rage then became the rage again. the technology and the algorithms got to the point computers were better at vision than humans. so much of what we do involves our own vision like driving the reason self driving cars is the aia techniques are around navigation and vision will drive better than we do because they don't go get drunk and fall asleep at the wheel. but the same is true with other fields like medicine. in certain areas of pathology and radiology we can show certain kinds of cancer
maria: welcome back a strong quarter earlier this month the company completed a major acquisition uk insurance broker and then better than 15 percent your year to date and for the company's portfolio. it's important to know on their own have been doing very well so we chose to come together all about growth and talent in capability with revenue and earnings insurance and reinsurance retirement security as well as health and employee benefits. maria: it also experience your footprint geographical.
>> sure. we are in over 100 countries but it gives a scale and to be in more 40 countries. uk is a big part of it asia and latin america and it expands the talent base with the acquisition. our view it is all about the talent. so the us getting 10000 new colleagues who are good at what they do. maria: what type of overlap? can you retain talent but also expanding what you can offer in terms of the properties. >> yes. we take two people businesses so while the cultures may be similar that we both put financials first with a great respect for the individual but
in a team environment cultures are different. we have to work hard to make sure those cultural attributes that make them unique, they are a feisty company. we want to make sure we celebrate those and they survive with a broader company. maria: talk about all these countries that you are in we talk about a global slowdown it seems like every weekend. europe will be lucky to get 1 percent for the year china is slowing down are you seeing a recession out there quick. >> i think recession is too strong of a word. 2018 was a lot of optimism and many did well so maybe we are coming off of that a bit. may be a more gradual slowdown than a spike also exposure parts rise.
and with a new start construction. you have seen it before with that expansion of short periods of contraction. . >> some analysts are worried about margin pressure. . >> looking at our business with a ten year track record of success. ten years in a row growing organically for a long stretch of time. delivering dramatic market expansion and we believe we can continue to do that.
maria: when you speak with your large clients. >> most of that claim starts with risk and that concern is the solutions if that can help them talking about insurance and the insurance brokerage makes that 45 percent of the overall business. and with management consulting but on the insurance side they get a bad rap but in some ways in terms of protection and enablement i cannot say to an industry that provides more benefits for society. without burdens of loss literally they will be rebuilt
because of insurance with the taking of risk and investment but no investment without insurance. maria: how do you want to allocate capital? looking at the world today how do you allocate capital quick. >> usa and the uk are some of the best to invest. putting $14 billion of capital to work since january 1st a great deal has been committed in the uk and the us. and who they are the advisor to but with that small commercial in different parts of the world. maria: thank you to dan. don't go anywhere. more wall street right after this. fact is, every insurance company hopes you drive safely.
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and then sunday morning futures will be life of the us-mexico border.sssssssssssssss weekend thank you for joining me i will see you next time. . >> the "wall street journal" at large welcome. the race for the democratic nomination got into full swing on thursday joe biden did what everybody had been expecting to announce he was running for president and where he was conspicuously alert. while the former vice president joins as a front runner all the news is