WHEN: Today, Tuesday, September 30th

WHERE: CNBC's Business Day Programming

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with eBay President & CEO John Donahoe. Excerpts of the interview will air throughout CNBC's Business Day programming today. Video from the interview is available on CNBC.com.

All references must be sourced to CNBC.

DONAHOE: First of all, David, eBay and PayPal have been better together over the last 12 years and certainly over the last six. But what's changed is we've just come out of our annual strategic planning process, the same process that the board and I do every year, where we look forward. We look forward about how to best position the company over the next three to five years. And really, four things that changed came out of that. One is that as we look forward we see that payments and commerce landscape, competitive landscape, changing at an accelerating rate, which creates enormous opportunity for eBay and PayPal. Second, we now believe that eBay and PayPal are best positioned to compete going forward as independent companies because it gives the kind of strategic focus and flexibility that we think will be necessary in the coming period. Third, the synergies that I talked about back earlier in the year are still there, but they naturally decline over time. You know, when you look forward, eBay will be less than 15% of PayPal's business three years from now and we can achieve many of the benefits of the synergies through arms' length commercial relationships.

FABER: John, you know, it is funny that you list three reasons why because I was looking back at a conference call you had when you were at the beginning of a proxy fight, that ended your way, against Carl Icahn. And then you cited three reasons that the two companies were best together. You said first eBay accelerates PayPal's success. Second, eBay makes – eBay data makes PayPal smarter. And third, eBay funds PayPal's growth. I would assume those things are still true?

DONAHOE: Yeah, they're exactly the things that can be done now through commercial arms' length commercial arrangements. Let's just take each of them in turn. Fueling PayPal's growth. eBay today accounts for roughly between 25% and 30% of eBay's new users. That drops to less than 15% three years out. So that can be handled through a commercial relationship. Second, the data. The data's something we really dug into this summer about seeing if we could give the benefits of data sharing for PayPal's risk models and eBay's risk models through a commercial arrangement. And we became comfortable we could. And then third, in terms of fueling the capital structure of PayPal, we've looked at and we can create two independent capital structures that set each business up for success. So those synergies and those reasons that have been there for the last six years have been powerful, but as we look forward we prioritize the value of focus, strategic agility and the ability to move quickly in a changing competitive landscape as being more important.

DONAHOE: PayPal's got about 80% penetration on eBay today and we don't see that growing much in the coming years. It's sort of reached its natural limitation. And PayPal is the only payments network out there that's now much larger off of its home network than on. And so when you look forward, PayPal as an independent payments company can serve not just eBay, where it's got 80% penetration, but serve all of the commerce ecosystems. All of the merchants. And as PayPal gets larger and larger and as the payments landscape changes, the opportunity we see for PayPal is to serve all merchants, all payment ecosystems, all technology ecosystems.

FABER: So do you not believe that trend is no longer valid? In other words, commerce and payments don't belong together?

DONAHOE: Well, they're coming together on the various ecosystems. And so many of the commerce providers are trying to do payments within their own environment. We want PayPal to be the foundation on which they build those payments platforms. And that gets to the very strategy we're talking about, where if PayPal can help power payments, whether it's on a Skype or a Facebook or an Uber or an AirBnb, that's the opportunity PayPal uniquely has, and that's what the focus will be going forward.

FABER: And to what extent was PayPal prevented from doing that as a result of its being part of eBay?

DONAHOE: Well, independently PayPal will be able to move more quickly without worrying about if they're helping a competitor to eBay. They won't have to worry about that consideration. And I think they'll have the kind of strategic focus and agility that will ultimately allow PayPal to achieve its full potential, which is enormous.

FABER: Well I mean we've seen changes recently in payments, or at least announcements that seem to be auguring change, whether it's Apple pay or Visa doing some interesting things. The public offering of Alibaba and the huge e-commerce company that that is. Did that figure into the board's thinking at all?

DONAHOE: Well it is exactly the kind of change I was talking about earlier. When we look out three to five years we see the pace of competitive change in both commerce and payments accelerating. And the changes that have happened in the last month are just I think early indicators of what is to come. And so a more focused eBay and a more focused PayPal we believe will enable each business to compete more successfully in that environment.

DONAHOE: My ultimate responsibility is the same as it's been for the last ten years since I joined eBay, David, which is to do what's best for the overall company. And my most important responsibility going forward is having made this decision to separate, over the next year to ensure that we set each business up for success and that these operating agreements get done in the right way. In addition, we've got two great leadership teams. Devin Wenig will become CEO of eBay. And he's been the president of eBay for the last three years, doing a great job, and the right leader for that business going forward. And as you know, we're also announcing today that Dan Schulman will be joining PayPal, initially as the president over the next nine to 12 months until separation and then the CEO thereafter. And Dan brings wonderful qualifications. He has a technology background. He understands mobile. And he knows the payments industry. So I feel thrilled about both leaders as the right leaders for these businesses going forward. And I'm not going anywhere. I'll be CEO of this business throughout the next year until we separate and then I'll go on one or both of the boards and I'm deeply committed to seeing this thing all the way through.

FABER: Would you become potentially chairman on one of the boards?

DONAHOE: If that were appropriate, absolutely.

FABER: But you know, I've been doing this a long time. It's rare that I've seen a CEO, a young CEO, who's had success, voluntarily say, "I don't need to be CEO of the company," that is left behind or the company being spun off. Were there any disagreements between you and your board of directors that led you to believe or led you to think about this differently?

DONAHOE: Not at all. The board is 100% supportive of this course of action.

FABER: Are you 100% supportive of this course of action?

DONAHOE: Absolutely. I want to do what's right. I've gotten up every morning in the last 10 years with a burning desire to do whatever we can to set eBay and PayPal up for success. And that's what's behind this decision and that's what's behind my actions. And our board is 100% behind that.

FABER: What – after this year and you say goodbye to these two companies, do you see yourself perhaps becoming a CEO of another company?

DONAHOE: You know, David, I haven't given it any thought. I've focused 100% of my attention on getting this decision. I will focus 150% of my attention over the next 12 to 18 to 24 months to ensuring we land it in the right way and in the way that's best for both businesses, for their customers, for our employees and for our shareholders. And at that stage I'll worry about what's next.

FABER: But if I'm on your board, and I've watched you perform and create all of this value, aren't I saying, "John, don't leave. Don't go. Please, be the CEO of eBay." You know, can't we create an opportunity for you that will keep your management talent here?

DONAHOE: You know, David, coincidentally I had a good role model named Meg Whitman. And Meg was CEO of eBay and she said she was going to do it for a decade, ten years. And she stepped down eight years ago at the age of the early 50s and created opportunity for me, for which I'm enormously grateful. Coincidentally, next year will be my tenth year at eBay and I'll be creating opportunity for two great leaders to become CEO. So I think there's more than precedent around it. And I want to do what's right for the company and ultimately that will work out what's right for me.

DONAHOE: Back since 2008 we looked exhaustively at whether eBay, PayPal and Skype were better together or better apart. And as you know, in 2008 we made the decision Skype was better apart and we divested it. And at that time we thought eBay and PayPal were together. And we revisited that decision annually each year. And we've always known that the synergies were going to run their course and at some point it would probably make sense for eBay and PayPal to be separate. And that was still the case in 2013. We thought, "All right, the synergies have not yet run their course." What the proxy fight forced was me to come out and articulate our plan of record, our position at that moment. And that's what I did. And had to do that forcefully and clearly. But at the very same time we were just beginning our planning process in 2014 using the same process we've used all the way along. And if you go back you'll see that I said many times during the proxy that, "We will be open minded and objective and we will continue to evaluate all of our alternatives." And that's just what we've done with an eye toward the future. How do we best position each business to be competitive and to succeed into the future? And we believe this path, when you look forward, is the right path for eBay and PayPal.

DONAHOE: We're going to move forward in this separation over the next nine to 12 months, do it as quickly as we can with as much clarity going in. That's why I'm very pleased to have the CEO of each business clearly identified. We have a plan in place so that we can execute this and get through this in a way that strengthens each business instead of causing unnecessary distraction.

FABER: There still will be distraction. There has to be.

DONAHOE: Well, each business knows who their future leader's going to be. Each business knows what the competitive environment is. I think the recent changes in the competitive environment have brought intense focus from everybody across the company, because they see the opportunity. And they also see the challenges. And I think this move will accelerate the pace of change. The value of focus is non-trivial and I think this will increase the focus, the agility, the speed with which we operate and I think that's an important dimension in the competitive environment looking forward.

DONAHOE: E-commerce is still in its infancy. E-commerce even when you add mobile commerce in, is still only 15% of retail, and eBay's well positioned to capitalize on that future. And I think a more focused eBay will enable it to move more quickly. I think a more focused eBay and an independent eBay will enable eBay to take its own cash flow and not have it redeployed into another business, but rather to take its own cash flow and focus it on its own growth, on its own M&A if appropriate, or buying its own stock back. So I think this sets the eBay business up to succeed as well as setting the PayPal business up to succeed going forward.

FABER: When it comes to eBay though, I can see where PayPal can now go and say, "Alibaba, come. We are no longer apart of eBay. We want to be one of your payment engines." Amazon. What new opportunities, if any, does this open up for eBay?

DONAHOE: Well, perhaps one of the most important new opportunities it gives eBay is control over its own destiny. When you're inside a portfolio and you're the lower growth business and you have the kind of cash flows that eBay has, often those cash flows get redeployed to other businesses. This allows eBay to take its own strong cash flow, its own strong operating margin and reinvest back in their own growth. And I think will lead to more focus. Will lead to greater strategic agility and the ability to move more quickly and take control of their destiny.

DONAHOE: PayPal's got the ability to provide a payments platform that can be used on the web with merchants all over the world and on mobile devices. And those worlds have been relatively separate and distinct. With the way technology's evolving, with the tokenization guidelines coming in, with the mobile operators like Apple coming in, many of the technology ecosystems want to enable payments, but they don't necessarily want to get into the payments business themselves. And the opportunity, the unique opportunity we see for PayPal is to power, to enable payments on multiple technology ecosystems.

FABER: A couple of the developments you mentioned. I mean Apple and Visa, those happened very recently. The board seemingly made up its mind about this split prior to that, did it not?

DONAHOE: Sure. But they're only early indicators. They're just the early stages of the kinds of changes we think will be happening over the next three to five years. The way technology's evolving, the way mobile technology's evolving, we think you're going to continue to see profound changes in how consumers shop and how they pay.

FABER: Has Apple gotten a lead on you guys?

DONAHOE: Oh, I think we have a strong lead in payments. You know, we have 12 years in payments—

FABER: But on the technology side, if I can swipe my thumb in front of this thing and then just go like this and I know it's secure, more secure than that piece of plastic in my wallet?

DONAHOE: Well, PayPal did $27 billion in mobile payments volume last year. We've done over a billion mobile payments. So I think there's a lot of opportunity in the mobile payment space and PayPal's clearly investing heavily in that and out ahead.

DONAHOE ON BEING BETTER SEPARATE

DONAHOE: The consistent thing, David, has been from the beginning we've always tried to do whatever positions the company for success going forward. And I think we've demonstrated, back in 2008 when we divested Skype, an opened mindedness to do whatever it takes to set each business up to succeed and compete in the future. And so this decision is simply a continuation of that mindset. As we've continued our annual assessment, looking forward three to five years about how we can best position eBay and PayPal, we think the competitive position and the competitive environment of commerce and payments are going through accelerating change. That creates new sets of opportunities, and challenges, for both eBay and PayPal and that operating independently and separate will give eBay and PayPal focused strategic flexibility, and an ability to move quickly and decisively in this changing environment. And as the synergies run their course, as they become less and less important as a percentage of PayPal's total business, we think the commercial agreements can achieve those synergies.

FABER: The commercial agreements that eBay and PayPal will enter into, they're not going to be able to completely replace the beneficial parts of the relationship, are they?

DONAHOE: Well, I think they'll create appropriate incentives for eBay to create new customers for PayPal. For PayPal to provide its very best payment experience on eBay, which it's always done. And I think the data, there are strong incentives so that the data can be shared in a way that, particularly for risk purposes, allows the safest possible transaction on both eBay and with PayPal throughout the web.

DONAHOE: I think our shareholders have confidence that we will do the right thing. We will do the right thing for our businesses and we will do the right thing for shareholders over the short, medium and long-term. And so I genuinely believe this course of action is the best thing we can do for the company over the short, medium and long-term, as well as for our shareholders. And so I feel confident they'll support this action.

FABER: Carl Icahn's going to be saying, "See, they listened to me after all." He's going to claim victory. Is that going to tick you off?

DONAHOE: No. You know, I want to do what's right. And Carl said separation he thought was right back a year ago at the beginning of this, and that's the course we're taking. So I give credit for Carl providing an input and a perspective that we've ended up acting upon. It is not why we did, but he's a smart guy and we're happy to have him as a shareholder.

FABER: Yeah, and to those who would say, "Well, you wanted to avoid another proxy fight." Not necessarily with Icahn but it takes a lot out of you, these proxy fights, even when you do win. But to those who would say, "Well, they're just getting ahead of what might be the next proxy fight," what do you say?

DONAHOE: You know, I'm saying we come out of a very deliberate process to do what's right for the company over the medium- to long-term. Very consciously we didn't make a reactive decision in Q1 based on a short-term event like a proxy fight because we have a long history of being thoughtful and deliberate of how do we set this business up to succeed over the long-term. From the beginning, Pierre Omidyar, our founder, has a deep commitment to the long-term. Still owns 10% of the company. He's still chairman of the board. And this process has gone through what is the best way to help eBay and PayPal succeed over the long-term. I feel confident this is the right direction, and that's the reason we're pursuing it.

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Summary: CNBC Exclusive: CNBC Excerpts: eBay President & CEO John Donahoe Speaks with CNBC's David Faber Today


They’ve been accumulating trash for weeks. They’ve got thousands of bees ready to go. And they’re bringing it all to Kendall Square.

The exhibit by the Best Bees Co. is one of 26 events taking over Kendall Square Thursday as part of the ideas festival known as HUBweek.

At “Inside Kendall Square,” the public will be able to mingle with scientists on the cutting edge of cancer, neuroscience, and genetics research, and hear from company founders about how they build a welcoming work environment. Events range from the intellectual to the festive, including a discussion between a painter and a software engineer about beauty, a demonstration of the latest health gadgets, and a block party to wrap up the night.

“This is a Kendall Square open house,” said Danielle Duplin, a HUBweek producer.

At the bee exhibit, visitors will use the trash — old T-shirts, shoeboxes, and bottles — to create “hotels” they can take home to attract bees to their backyards. And those of you with apiphobia (fear of bees) shouldn’t fret. The bees at the event will be contained in see-through hives.

The weeklong event series dedicated to the intersection of art, science, and technology will last through Oct. 10 at venues throughout Greater Boston.

In fact, honey bees shouldn’t be feared but appreciated for the role they play in agriculture, said behavioral ecologist Noah Wilson-Rich, one of the company’s founders.

People have an appreciation for flowers and fruit, Wilson-Rich said, but “you have a pollinator in the middle that doesn’t get any attention.”

One of the hives is made of glass and was 3-D-printed at the MIT Media Lab, part of a new partnership between the lab and the bee company. Admittedly, the hive looks like a standard glass box, but it’s lined with wooden frames, each latticed with wax and honey. And it’s brimming with bees, of course.

The partnership between the Media Lab and the company just started, and Wilson-Rich said the first step was to study how bees responded to living in the glass hive before trying out other, as yet undisclosed, collaborations.

The Media Lab itself will be opening its doors for the event, as will other MIT-affiliated research centers. (HUBweek is founded by The Boston Globe, Massachusetts Institute of Technology, Harvard University, and Massachusetts General Hospital.)

Absent from the lineup, however, are many of the pharmaceutical and biotech companies that have distinguished this area as a biomedical hub.

Some are involved — Pfizer, for example, is hosting an event with its scientists, and Novartis is cosponsoring a discussion at Google. But for people trying to get a peek at some whiteboards and boardrooms, organizers say maybe next year.

Draper Laboratory, where scientists study everything from artificial intelligence to tissue engineering, is wading into the e-commerce world.

For sale: custom-made silicon chips that allow researchers to study tiny amounts of liquid samples.

So-called microfluidic devices are a powerful tool in biotech labs, since they allow researchers to do cheap, quick analyses of how fluids react, for example, or the toxic effects of a molecule on a cell.

The venture, known as the Sembler initiative, marks a departure from the lab’s usual model of scientists-for-hire. Traditionally, Draper partners with a corporate, academic, or governmental group on a specific project. But in this case, anyone with an Internet connection could be a customer.

Draper says its program will be more affordable and faster than other options, whether that’s buying similar supplies from companies or partnering with a university to access its equipment. Some startups also craft their own microfluidic devices, but that takes them away from their research, said Nathan Wiedenman, Sembler’s program manager.

“These people want to be testing their concept,” Wiedenman said, not building tools.

Sembler customers can upload their design specifics online, and Draper will manufacture and ship the devices within a few weeks. The microfluidic chip is the first of what the company says will be a number of products geared toward biotech startups — a way, Draper hopes, of using parts to open doors to further partnerships.

The man leading the research at one of Kendall Square’s most prominent — and most curious — laboratories is leaving.

Robert Johns, who has been director of the Volpe transportation center since 2009, is departing at the end of the year, Volpe officials said. Johns, who directed the University of Minnesota Center for Transportation Studies before coming to Cambridge, will join that university’s Humphrey School of Public Affairs as a senior fellow.

The next director will be coming on at a pivotal time for the US Department of Transportation complex.

The government is planning a new research facility for the site in the coming years, which will allow the center to expand its studies in fields like drones, while maintaining a focus on issues such as pedestrian and bicycle safety.

One challenge for Johns’s successor: spreading the message of how that research affects daily life. In an interview earlier this year, Johns acknowledged as much: “There’s a lack of awareness of what happens behind the walls here.”

Summary: Open house in Kendall Square will feature tours, talks — and lots of honeybees.


Trader disclosure: On August 25, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, SINA, YHOO. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE. Karen Finerman is long BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, M call spreads, SUNE call spreads, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. David Seaburg: No disclosures.

Summary: The "Fast Money" traders reveal what they're watching as they get ready for the new trading day.


We're barely halfway through the football season, and there are already five coaching vacancies -- including four among the Power 5 ranks. After Illinois dismissed Tim Beckman on the eve of the season opener, new jobs have opened up this past week at USC, South Carolina, Maryland and North Texas.

Of course the USC job is catching all the attention, with names from both the pros and colleges being mentioned as likely candidates. Chip Kelly is purportedly at least mildly intrigued. Sean Payton is said to be on the short list. Ever since Steve Sarkisian's summary dismissal, nearly every big name in college football has been in some ways associated with the Trojans' opening, including even Nick Saban.

But the hottest coaching prospect has got to be Justin Fuente, whose Memphis Tigers are 6-0 after an impressive takedown of Ole Miss on Saturday. The Tigers are one of three unbeaten American Athletic teams, all vying for a New Year's Six bowl berth now that Boise State is out of the running after being routed by Utah State on Friday.

Should the Tigers continue their winning ways, Fuente, 39, almost certainly won't be back at Memphis next season. Any Power 5 program looking for a young, dynamic offensive coach will be casting a lustful eye.

Fuente, who played quarterback at Oklahoma and Murray State, helped develop Andy Dalton while he was the co-offensive coordinator at TCU. At Memphis since 2012, he's resurrected a program in a downward spiral into a consistent winner, going 10-3 last year with a Liberty Bowl victory over BYU.

Fuente is unlikely to land at USC, however, as after the disaster of young-and-upcomer hires of Lane Kiffin and Sarkisian has not exactly worked out. Look for him to land a lucrative new gig in either the SEC or Big 12.

The more things change ...

The 2015 college football season is playing out much like the 2014 college football season, with just a couple of minor variations. This despite some early-season upsets, mid-season turmoil and the presence of a cyclone named Jim Harbaugh. If you look across especially the Power 5 conferences, it's like watching a rerun of last fall's blockbuster:

* Despite repeated attempts by many to declare Alabama dead, the Crimson Tide is right where it was a year ago. They have survived an early-season upset loss to Ole Miss (just like last season) and are humming along toward another SEC title. Standing in their way is not some emerging new threat but their old foe LSU, which is now the only unbeaten SEC team after knocking off Florida on Saturday.

* In the ACC, the only unbeaten teams are once again Florida State and Clemson as they careen toward a collision course for the division (and really, the conference) title, just like last year, and the two years before that. The Tigers are ranked higher this time around but until they can prove otherwise, the Seminoles are still king.

* There are three undefeated teams in the Big 12, but the title will be decided by the two teams that shared it last season -- TCU and Baylor -- in the regular-season finale. Sure, both teams will have to defeat unbeaten Oklahoma State on the road, but at least this time around the Big 12 is ready to crown "One True Champion" via a tiebreaker if necessary.

* Despite Harbaugh's best efforts, he won't be able to break up the Ohio State-Michigan State monopoly atop the Big Ten in his first season back in college ball. The Wolverines' late-game mishap (see below) pretty much ensures the Nov. 21 showdown between the Big Ten's two unbeatens will decide the East division title, with the winner the prohibitive favorite to take on the conference's only other undefeated team (Iowa) in the title game.

* The Pac-12 is the only Power 5 conference to have altered the script, as Oregon's character has been usurped by Utah, the conference's lone unbeaten. The Utes dethroned the Ducks with blowout win in Eugene and have answered the bell against Michigan, Cal and Arizona State thus far. With both L.A. schools reeling, they're headed to Levi's Stadium to take on perhaps the winner of the Big Game for the Pac-12 title.

Five of the teams that finished in the top six of last season's AP poll are again playoff contenders, with four of them still unbeaten. Yes, Harbaugh and Florida's Jim McElwain did their best to crash the party in the first year of their respective terms but both of their plans got derailed for now thanks to special teams blunders Saturday.

Michigan State 27, Michigan 23: Unless you were stuck on Mars with Matt Damon, you have already seen the replay of Michigan's botched punt snap that gifted Sparty the game a thousand times. The Wolverines were 10 seconds away from putting their lil' brother back in his place when disaster struck. Harbaugh thus became the seventh consecutive Michigan coach to lose to State in his first year.

Derrick Henry, Alabama: The Tide's junior running back shredded Texas A&M, rushing for a career high of 236 yards and scoring two touchdowns as Alabama silenced the Kyle Field crowd early and coasted to victory. Henry is running in Leonard Fournette's shadow (who isn't?) but he'll get a chance to emerge from that when LSU visits Tuscaloosa on Nov. 7.

1, Utah, 2. LSU, 3. Clemson, 4. TCU, 5. Baylor, 6. Michigan State, 7. Ohio State, 8. Florida State, 9. Stanford, 10. Alabama, 11. Oklahoma State, 12. Iowa, 13. Notre Dame, 14. Florida, 15. Memphis.

-- Samuel Chi is the managing editor of RealClearSports.com and proprietor of College Football Exchange. Follow him on Twitter at @ThePlayoffGuru.

Alabama Crimson Tide, College Football, College Football Playoff, Justin Fuente, LSU Tigers, Maryland Terrapins, Memphis Tigers, Michigan State Spartans, Michigan Wolverines, NCAAF, South Carolina Gamecocks, USC Trojans, Utah Utes

Summary: We're barely halfway through the football season, and there are already five coaching vacancies -- including four among the Power 5 ranks. After Illin...


FORTUNE — I wasn’t in Berlin for the unveiling of Galaxy Gear — Samsung’s attempt to steal a march on Apple AAPL by introducing a smartwatch before Tim Cook can — and I haven’t seen the device, as the Apple line sitter put it in that 2011 Galaxy S2 ad, with my hands.

But I’ve seen enough product introductions to know that Samsung co-CEO J.K. Shin is no Steve Jobs. Or even Phil Schiller. And that Samsung still has a lot to learn about making a splash in high tech.

Summary: A sense of showmanship is one thing Samsung hasn't managed to steal from Apple.


Intel will lay off 175 employees from its microchip factory in Hudson early next year as part of a long-running closure process.

The layoffs will begin Jan. 1 and continue for “a number of months,” the company said in a letter filed with Massachusetts labor officials on Oct. 30. Santa Clara, California-based Intel Corp. announced plans to close the facility in 2013, when it employed more than 700 workers.

Most of the affected workers work in manufacturing, according to a list attached to the company’s WARN notice, which businesses are legally required to file before a large layoff. Other employees filled technical, engineering, and administrative roles. Intel said some employees may find another job elsewhere in the company.

The fabrication plant was built in 1994 by Digital Equipment Corp. and was sold to Intel in 1997.

Summary: The factory, which has long been slated for closure, is laying off 175 employees, Intel told state labor regulators.


That said, there is plenty of good news, too, and investment opportunities exist in niche areas. India has always leapfrogged ahead in innovation, skipping layered growth.

The wireless revolution in India happened, as an example, before fixed line. Wireless connections bypassed fixed-line connections in 2004, but wireless Internet usage has also passed fixed-line Internet usage in 2012.

E-commerce is leaping. It has created a larger footprint in a shorter time than store retailing. E-commerce in India, currently $2 billion, constitutes 0.25 percent of the overall retail industry. In comparison, e-commerce as a percentage of retail is 6 percent in China, 9 percent in the U.S. and 4 percent in Latin America. Growth in e-commerce in India thus looks immense. Justdial, India's version of Yelp, is a good example.

(Read more: A $1 billion Soros-backed fund to change the global supply chain)

Mobile banking is also exhibiting huge growth and will probably replace credit and debit cards. India will predictably apply fresh restrictions (e.g. protocols, new net worth norms) after it experienced some pain (after some scam or loss as in the Vodafone case), thus making the country a follower rather than a leader in this space. In the past, such restrictions have slowed growth initially but saved money and resources over the long term, benefiting local players, including Bharti Airtel.

In health care, additional insurance schemes have increased the propensity to spend. New opportunities exist in hospital growth, doctor and nurse training, medical record-keeping and all ancillary businesses that support health care. Take Apollo Hospitals, expanding by getting more and more single hospitals into its fold. Its brand allows it to charge premiums. Another sector is pathology lab companies, which have received venture capital investments. One, Dr Lal Pathlabs, is expected to list soon at a value of $850 million.

In pharmaceuticals, India is now a serious global player, featuring companies including Sun Pharma and Cipla. In generics, India controls a significant part of the world market. Multinational pharmaceutical companies are investing in India, as they find it a cheap place to manufacture, as well as to gain the fringe benefit of the potential huge local-growth opportunity.

In April 2013, Unilever announced a 21 percent premium to market bid to buy back 22.5 percent of its local subsidiary HUVR:IN, valued at $5 billion. Other long-term players, such as Diageo and GlaxoSmithKline, have recently increased their ownership in their local subsidiaries. These are positive signals.

—By Pashupati Advani, founder of India-based cross-border business consulting firm Global Foray and member of the CNBC-YPO Chief Executive Network.

CNBC and YPO (Young Presidents' Organization) have an exclusive editorial partnership. It consists of regional Chief Executive Networks in the Americas, EMEA and Asia-Pacific. These Chief Executives Networks are made up of a sample of YPO's unrivaled global network of 20,000 top executives from 120 countries who are on the front lines of the economy. The opinions of Chief Executive Network members are solely their own and do not reflect the opinions of YPO as a whole or CNBC.

Summary: There seems to be little to no interest in fresh overseas investment into India, and that’s a mistake, says a local expert.


Residents of Memphis in the US state of Tennesee woke up to see their street blanketed in a frosty white substance that wasn't snow - the street was taken over by millions of spiders which weaved a web more than 600m long.

Despite expert reassurances the spiders are nothing to be concerned about many locals are still irked by the infestation of eight-legged creatures, WMC Action News reports.

"I've never seen anything like this. It's like a horror movie. Never seen nothing like this before," resident Frances Ward said on Friday.

"They're in the air, flying everywhere. They all on the house (sic), on the side of the windows."

Memphis Zoo curator Steve Reichling said the spiders had probably been around before they built their giant web but had gone unnoticed.

“It could be juveniles, millions, in a big emergence event, or adults of a tiny species, probably a sheetweb spider — leaving for some reason possibly knowable only to them," he said.

"In fields and meadows, there are often literally millions of spiders doing their thing, unseen and unappreciated by us."

Mr Reichling said despite annoying locals the spiders were a sign all was well in the ecosystem.

Summary: Residents of Memphis in the US state of Tennesee woke up to see their street blanketed in a frosty white substance that wasn't snow &mdash the street was taken over by millions of spiders which weaved a web more than 600m long.


Additionally, it is difficult to argue that $9.00 per share is a fair value for BlackBerry.

For a take-private transaction for a company of BlackBerry's size, shareholders will want a fairness opinion – a formal document created by independent investment bankers that uses various information and a valuation methodology to determine whether or not the offer price is fair.

Having worked on many fairness opinions in my career, I highly doubt that a reputable investment bank would consider $9.00 a share fair.

Even with the issues surrounding the company, the premium offered was only a paltry 3.1 percent to Friday's $8.73 closing price, and sharply lower than Friday's opening price of $10.50. Not to mention that, with the exception of the past few days, the stock has only spent a handful of days below the $9.00 threshold this calendar year.

(Read more: When all else fails, go private: BlackBerry deal)

Unless a very comprehensive process had been run in the background with many potential buyers passing at significantly higher values, writing a fairness opinion to back up the $9.00 offer price would be a tremendous challenge.

The bottom line is that this take-private bid may be more sizzle than steak. The bid expiration is set for November 4th, so in short order we will see if this take-private bid has any real meat to it.

Carol Roth is a CNBC Contributor, a 'recovering' investment banker and bestselling author of The Entrepreneur Equation. Follow her on Twitter: @ CarolJSRoth

Summary: Is BlackBerry's buyout bid for real, or is it merely a stalking horse bid to either obscure another party or create a sense of urgency among strategic players?


12/09/2015 AT 11:35 PM EST

It is usually a contestant that

doesn't want to send home from

but this time, it's his girlfriend

Shelton, 39, and Stefani, 46, discussed the fact that she'll be taking a break after season nine – although the new couple did not

"I don't want Gwen to not be on the show, why can't we have a fifth coach?" Shelton said, seeming genuinely sad.

Renee Bargh interjected asking why there can't be two female coaches, to which Blake replied: "Why can't there be? I vote for that!"

Meanwhile Gwen played coy. When asked who she will miss the most she answered, "I wonder..." before explaining that she will miss the "chemistry" of all the coaches.

Hilariously, Adam Levine joked that they'll miss Stefani's style on set most when she takes a break next season.

"I think Gwen has been a stand-out moment. Somehow, when Gwen walks in the room, we all look like we've been wearing the same outfit for 10 years," Levine said.

Summary: Gwen Stefani will take a break after season nine of the show


12/23/2015 AT 12:25 PM EST

, the nation's addiction epidemic is personal.

"I am one of the 1 in 7 people who has faced addiction, and I am grateful to be in recovery today," the singer, 23, shared via

Lovato penned the message to spread word about nonprofit

, which works to help addicts and end the stigma surrounding the issue.

"It's time for us all to reflect, and start @facingaddiction," wrote Lovato, whose post includes a video that asks people to take a close look in the mirror.

She continued, "Let's stop ignoring the biggest problem in our country we often don't want to look at. We all are connected to this issue one way or another and we all need to be part of the solution. Together we can replace shame with support, hope, and healing."

The "Confident" singer has become a powerful voice for the movement since she

, eating disorders, and cutting in 2010. She has also been vocal about her struggle with bipolar disorder, which inspired her

head on, Lovato knows it's a fight that can be won.

"I'm living well with my mental illness – I am actually functioning like a very happy person would," she told PEOPLE in May. "I couldn't be happier today. Life is really, really great."

Throughout her transformation, Lovato has turned to longtime boyfriend

"I really wouldn't be alive today without him," she explained in an Instagram post about her

in March. "I love you Wilmer."

Summary: The singer urges Americans to "stop ignoring the biggest problem in our country"


01/14/2016 AT 03:45 PM EST

Olympic skier Picabo Street, who won an Olympic gold medal in the 1998 and a silver medal in 1994, was arrested for allegedly pushing her 76-year-old father down two flights of stairs in December, PEOPLE confirms.

The arrest allegedly came after an argument between Street and her father turned physical at Street's Park City, Utah, home, according to a probable cause statement from the Summit county Sheriff's office obtained by PEOPLE.

The alleged argument began when Roland Street, Picabo's father, bumped his car into the home while leaving the residence, the statement says. After Picabo allegedly became angry,

Picabo allegedly became angry, and, subsequently, Roland allegedly pulled Picabo's hair. Picabo allegedly retaliated by pushing him down the stairs and locking him in the basement, the probable cause statement says.

On a recording of Picabo's 911 call, which was obtained by PEOPLE, she tells the operator, "My father just tried to attack me in my own house in front of my children because he's trying to get the car out of my driveway and ran into my house."

"I put him down the stairs," Picabo says when the operator asks if everything has calmed down.

When the operator tells to her hold on while she requests help, Picabo can be heard arguing in the background with her mother: "Look what he did to me," she yells. "He slapped my face!"

Roland allegedly told police that he fell down two flights of stairs and may have hit his head.

Picabo Street is facing charges for domestic violence assault and domestic violence in the presence of children.

At a hearing on Dec, 28, Street pleaded not guilty. She is next due in court on Feb. 16.

Summary: Street is facing domestic abuse charges


North Korea has called for the conclusion of a peace treaty with the United States and a halt to US military exercises with South Korea to end its nuclear tests.

The isolated state has long sought a peace treaty with the United States, as well as an end to the exercises by South Korea and the United States, which has about 28,500 troops based in South Korea.

"Still valid are all proposals for preserving peace and stability on the peninsula and in Northeast Asia including the ones for ceasing our nuclear test and the conclusion of a peace treaty in return for US halt to joint military exercises," North Korea's official KCNA news agency cited a spokesman for the country's foreign ministry as saying early on Saturday.

Asked if the United States would consider a halt to joint exercises, US State Department spokesman John Kirby said it had alliance commitments to South Korea.

"We are going to continue to make sure the alliance is ready in all respects to act in defence of the South Korean people and the security of the peninsula," he told a regular news briefing.

Asked earlier this week about North Korea's call for a peace treaty, the State Department reiterated its position that it remained open to dialogue with North Korea but said "the onus is on North Korea to take meaningful actions toward denuclearisation and refrain from provocations".

The two Koreas remain in a technical state of war since their 1950-53 conflict ended in a truce, not a peace treaty.

North Korea said on Jan. 6 it had tested a hydrogen bomb, provoking condemnation from its neighbours and the United States.

Experts have expressed doubt that the North's fourth nuclear test was of a hydrogen bomb, as the blast was roughly the same size as that from its previous test, of a less-powerful atomic bomb, in 2013.

Pyongyang is under UN sanctions for its nuclear and missile programs.

Summary: North Korea says it would end its tests of nuclear devices if the US signed a peace treaty with it and halted military exercises with the South.


European officials Tuesday agreed to a deal with the United States that would let Google, Amazon, and thousands of other businesses continue moving people’s digital data, including social media posts and financial information, back and forth across the Atlantic.

With billions of dollars of business potentially at stake, the data-transfer deal was the result of more than three months of often tense negotiations between US and EU policy makers, who have clashed over what level of privacy individuals can expect when companies and government agencies follow ever-expanding digital footprints.

Part of the challenge is balancing individuals’ privacy concerns with national security obligations, particularly in light of mounting fears about international terrorism.

The agreement announced Tuesday aims to address those privacy concerns and strike that balance by including written guarantees by the United States — to be reviewed annually — that US intelligence agencies would not have indiscriminate access to Europeans’ digital data when it is sent across the Atlantic. Whether that provision will reassure privacy-rights groups remains to be seen.

Many obstacles still await the deal, which must be officially approved by the European Union’s 28 member states. National data protection regulators have yet to give their support to the pact, and European privacy-rights advocates are preparing to file legal challenges seeking to overturn it.

The data-transfer agreement, replacing a 15-year-old pact that Europe’s highest court struck down in October, is intended to let the free flow of digital data — the lifeblood of many global businesses — continue as usual.

In seeking to ensure the continued free flow of digital data, the deal announced Tuesday could especially benefit big US companies like Google, Facebook, and Amazon that tend to dominate Internet searches, social media, and digital commerce in Europe. But it is also meant to let nontech companies like the drugmaker Pfizer and the industrial conglomerate General Electric continue to send customer and employee data between the United States and Europe.

Europe’s privacy watchdogs had demanded that European and US officials agree to a new deal by Jan. 31. Although negotiators missed that deadline, they had been meeting almost continuously in Brussels since Sunday to hammer out an agreement. They were driven by a sense of urgency, as industry executives and trade bodies on both sides of the Atlantic worried that the means for transferring data between two of the world’s largest economies remained in jeopardy.

Most sensitive, perhaps, were provisions demanded by the European Commission, the executive arm of the European Union, aimed at limiting how US intelligence agencies collect data on Europeans when companies send their personal information to the United States. The US negotiators, in response, agreed to provide the annual written assurances.

These guarantees, European officials said, will be reviewed each year, with US and European policy makers meeting to ensure that the strict privacy rights of Europe’s more than 500 million citizens are respected by US agencies.

“We will hold the US accountable on the commitments that they have made,” Vera Jourova, the EU’s justice commissioner who has led the negotiating team, said Tuesday.

Both sides will now spend the next two weeks completing the details of the new pact, which is to be called the EU-US Privacy Shield. If approved, it would go into effect by early April.

But the deal’s first hurdle comes Wednesday, when Europe’s increasingly powerful national privacy agencies plan to pass their own judgment on how data can be safely transferred outside the European Union.

Summary: European officials agreed to a deal with the United States to let businesses continue moving people’s digital data across the Atlantic.


A military spokesman in Baghdad said three members of the four-man crew were injured whenÂ theÂ aircraft came down hard near the town of Taji, about 20km northeast of Baghdad.

The injuries were not believed to be life-threatening.

No further details were immediately available.

It is the third US helicopter to be brought down in the past two days. On Thursday, two marine Cobra helicopters were hit by groundfire near Falluja.

The two-man crews of both Cobras escaped without serious injuries after the choppers crash landed and the US military said the crash sites had been secured.

Elsewhere, Aljazeera has learned that three US military vehicles were damaged in an attack by armed men in Hiyt, west of Ramadi. US tanks are regularly targeted by anti-US forces

US tanks are regularly targeted by anti-US forces

In a videotaped statement made available to Aljazeera, the 1920 Revolution Brigades, the military wing of the National Islamic Resistance in Iraq, claimed responsibility for destroyingÂ a US tank in Falluja city.

US military authorities have not commented on the incident but footage aired on Aljazeera clearly showed a US tank along a Falluja road being destroyed by unknown munitions.Â

There has been no information on its crew, however.

Earlier, The New York Times cited a report from an embedded journalist who described one US tank as being disabled by rocket-propelled grenade fire in the narrow streets of Falluja.

At least 22 US soldiers have been killed and more thanÂ 200 wounded since US forces launched their latest assault on Falluja on Monday, a US general said on Friday.

Five Iraqi support troops were killed and some 34 others wounded.

Of those wounded, 40 were treated and returned to duty, Lieutenant-General John Sattler said.

He said about 600 anti-US fighters had been killed but there was no independent confirmation of the figure.

Summary: A US Black Hawk helicopter has been brought down by anti-US fighters' groundfire northeast of Baghdad, the US military says.


Lindsey Vonn is carried off the slopes

02/27/2016 AT 03:45 PM EST

had to be carried off the slopes on a sled after she crashed while competing in the Soldeu Audi FIS Ski World Cup super-G race in Soldeu-el Tarter, Andorra, on Saturday.

Vonn was in the lead when she lost her balance and slid off course, the

reports. The race was interrupted for about 10 minutes while Vonn was carried off the mountain.

.@lindseyvonn was 2/3 way down + leading by .32 at split before crashing. She has been evacuated in a sled to the finish. #grandvalirawcup16

posted an update of her injuries on Instagram Saturday afternoon.

"Got caught in the soft snow today and crashed pretty hard," she captioned a photo of her

. "X-rays showed I have a hairline fracture in my left knee and will get an MRI Monday. I will wait and see how I feel tomorrow to decide if I can race. Will keep u updated. Thx for all of the support and well wishes. Means a lot!"

Vonn also offered congratulations to teammate Laurenne Ross, who ended up winning second place in the race. Italy's Federica Brignone, who had been 0.32 seconds behind Vonn before the crash, took first place.

The pro skier has a history of serious injuries. She

, had to pull out of the 2014 Sochi Winter Olympics due to a

and was airlifted out of the 2013 Alpine World Championships after

Summary: 'Got caught in the soft snow today and crashed pretty hard,' the professional skier wrote on Instagram


Additionally, investors would likely vary the percentage of income they are asking for depending on a program's track record. This would give clear signals to students about what programs are likely to be most helpful to them when they enter the workforce. It would also help connect students with fields that are in demand and would put pressure on institutions to increase quality and lower costs.

While there are a few small companies experimenting with this idea, the lack of an established legal framework regarding consumer disclosures, tax treatment, and other important aspects of these plans has prevented the growth of this market. Therefore, we will soon be introducing legislation to provide this needed clarity so that a broad array of students can have access to this innovative financing option.

Read MoreRubio to offer bill on new education-financing vehicles

Lastly, Congress should pass legislation giving students and parents more information about the performance of graduates from different institutions and programs, empowering students to choose a program that will set them up for success. At the same time, we should look for ways to eliminate barriers that block new and innovative entrants that could shake up the system with new models designed for a 21st century student body and workforce.

There is no silver bullet for student-loan reform. However, by putting in place a streamlined and dynamic repayment system for federal loans, we can protect students and taxpayers from the disastrous financial consequences of default. And by pursuing other reforms that bring market forces and transparency to our higher education system, we can empower students and parents while helping to foster an education system that is more competitive, dynamic, and responsive to student needs.

With Congress set to consider reforms to our nation's higher education laws as early as this year, these ideas would be a good place to start fixing the way our people acquire the knowledge and skills to achieve their dreams in the 21st century.

Sen. Marco Rubio (R-Fla.) was elected to the U.S. Senate in 2010; his committee assignments currently include commerce, science and transportation; foreign relations; intelligence; and small business and entrepreneurship. Follow him on Twitter @marcorubio.

Rep. Tom Petri (R-Wis.) was elected to the U.S. House of Representatives in 1979; his current committee assignments include transportation and infrastructure and education and workforce.

Summary: Sen. Marco Rubio and Rep. Tom Petri outline their plan for student-debt reform.


Avril Lavigne and Chad Kroeger

03/09/2016 AT 02:25 PM EST

, the singer said the two would remain the "best of friends," and it looks like those weren't just empty words.

at Clive Davis' Pre-Grammy Gala in February, and on Tuesday, the "Complicated" singer posted a

With guitars in hand, the two musicians have bright smiles on their faces as they pose together on a couch in the photo Lavigne posted on her Instagram.

In another snap, the singer shows off their collection of instruments and a Hello Kitty notebook (perhaps they're penning some tunes about their relationship?).

"It is with [a] heavy heart that Chad and I announce our separation today. Through not only the marriage, but the music as well, we've created many unforgettable moments," Lavigne wrote in September on her Instagram. "We are still, and forever will be, the best of friends, and will always care deeply for each other."

Summary: The "Complicated" singer posted a photo on Instagram with her ex-husband


Jonas Gratzer | LightRocket | Getty Images

A map inside the IMB's (International Maritime Bureau) Piracy Reporting Centre (located in Kuala Lumpur) shows where pirate attacks have been occurring in recent years.

As CNBC reported last week, piracy is mushrooming in the area of the Strait of Malacca and Singapore Strait, a shipping bottleneck that sees one-third of the world's annual commercial maritime traffic, making it the busiest waterway on earth.

The U.S. becomes the 20th member of ReCAAP, a Singapore-based organization that's working against maritime crime in the region. Piracy there increasingly includes not just quick robberies but the theft of entire cargoes—especially fuel oil and other petroleum products, which pirates sometimes siphon off onto their own tankers.

Read MoreCrime on the high seas: The world's most dangerous waters

"U.S. membership in ReCAAP will enable us to support multilateral cooperation in addressing the common threat of piracy and robbery against ships in the region's critical sea lanes and waters," a U.S. State Department official told CNBC on Tuesday.

The Strait of Malacca and Singapore Strait handle all of the Persian Gulf oil that makes its way to the big economies of Asia, including China, Japan and South Korea. It also handles most trade between Europe and China.

"The high-risk waters of the Strait of Malacca are a concern for our U.S.-flagged vessels," Robert Gauvin, executive director of piracy policy at the U.S. Coast Guard, said last week. He added that joining ReCAAP will "provide a higher level of security and lessening of the threat to those vessels."

Summary: The U.S. formally joined ReCAAP, a Singapore-based, multinational organization battling piracy at sea.


(Read more: Google's future in the Ivy League)

Inexpensive training isn't the only lure. Brightpearl, an online business software management developer, started to use Udemy last fall to help train a new team of salespeople. It found that the new team produced 32 percent more in revenue compared with a previous group of new hires, who had been taught in a traditional instructor-led class.

"It's easy to go back to the application and review and improve your skills," said Carter Perez, senior vice president of sales at Brightpearl. "I think that's led them to be able to get out of the gate faster."

Online courses are not necessarily cheap to produce. Perez declined to disclose how much Brightpearl spent to launch its online university but said that the company invested about 500 hours to produce the online video tutorials, which it is also using to offer certification for its business partners. The MOOC nonprofit founded by Harvard University and MIT has said it can cost hundreds of thousands of dollars to develop one university course online.

Businesses spend $1,195 on average per employee for training each year, according to a report by the American Society for Training & Development. The ambition of the online educators is to prove to businesses that they can save hundreds, if not thousands of dollars, in productivity, as well as the cost of hiring an instructor, sending employees to a conference or beefing up their IT desk to manage, say, an operating system migration for the entire company.

(Read more: Can wearable tech boost productivity?)

1-800-Flowers has partnered with Udemy to create a Web version of its BloomNet Floriology Institute, where members of its retail florist network can take classes on the latest trends in floral design. Now its florists don't necessarily have to travel to its headquarters in Jacksonville, Fla., or to a regional seminar for training.

"They're a little bit of everything in their store, so they need a system that is flexible so they can take it when they can take it," said Lisa Carmichael, vice president of marketing and new business development for BloomNet, a subsidiary of 1-800-Flowers.

The benefits of learning hands-on with an instructor can't be erased: On average, just 4 percent of students managed to finish an online class, according to the University of Pennsylvania study. But for businesses, online learning is not so much about sitting through an entire lecture and earning an A, but being able to take new information and apply it to jobs immediately.

"We believe that if you know it, it doesn't matter if you sit through it," said Dennis Yang, Udemy's president and chief operating officer.

Compared with an in-person class or seminar, online courses also offer much more flexibility for employees, who have varying levels of skill and need varying amounts of coaching. "Not everyone needs the same instruction," said Lynda Weinman, co-founder of Lynda.com, another California-based online learning company.

Lynda.com's business began well before the MOOC revolution: The site started 18 years ago with a library of online video tutorials mainly focused on photography, graphics and design. Since then, it has expanded to more than 15,000 hours of curriculum, including 450 business-related courses, and corporate customers have become the fastest-growing segment of Lynda.com's revenues, Weinman said. Bank of America, Disney and Apple are among the companies that pay a fee to give their employees unlimited access to the site.

"It is a new era of abundant learning, where there are so many avenues for people to increase their skills," Weinman said. "It's giving people a lot of options." Their employers, too.

—By Ellen Lee, Special to CNBC.com

Summary: MOOCs may yet upend higher education. For companies, though, MOOCs are already cutting into the $160 billion spent each year on job training.


Photo: Nati Harnik, Associated Press

Myles Jack and the 49ers’ potential All-Knee draft class

The blockbuster Titans-Rams trade has erased almost any chance the 49ers select a quarterback with the No. 7 pick in the NFL draft.

The Rams, of course, surrendered a draft-pick bounty to jump 14 spots to No. 1 because they plan to replace Case Keenum with either Jared Goff or Carson Wentz atop their quarterback depth chart.

With quarterback no longer a consideration, there is an increased likelihood 49ers general manager Trent Baalke will use his first-round pick on a defensive player for the fourth straight year.

And, if that defensive player is UCLA linebacker Myles Jack, it will extend another one of Baalke’s draft streaks: For the fourth straight year, he will have drafted a player recovering from a torn knee ligament or cartilage.

In fact, Jack would count as the seventh prospect the 49ers would have selected since 2013 whose college career ended because of a serious knee injury. With the potential addition of Jack, the 49ers would have, in effect, compiled a seven-man draft class comprised of only players coming off knee surgery over a four-year period.

That All-Knee draft class would include a first-, second-, third-, fifth- and seventh-round pick, along with two fourth-round selections.

The 49ers haven’t had much success with their other rehabbing picks, but Jack would obviously count as the most decorated of the group. Jack is viewed as an elite talent, much like Rams running back Todd Gurley, last year’s No. 10 pick who was the NFL’s Offensive Rookie of the Year despite sustaining a torn ACL in November 2014.

Here’s a look at how the All-Knee Draft Class would look if the 49ers select Jack:

FIRST ROUND (No. 7): LB Myles Jack, UCLA (2016)

Injury: Jack sustained a torn meniscus in practice on Sept. 23. He did not participate in drills at the NFL combine in late February. He did not run the 40-yard dash at his pro day on March 15. Baalke attended Jack’s pro day and the 49ers have hosted Jack for a pre-draft visit.

SECOND ROUND (No. 40): DL Tank Carradine, Florida State (2013)

Injury: Carradine tore the ACL in his right knee against Florida on Nov. 24, 2012. After the 2013 season, he had a follow-up procedure to remove a mass of scar tissue from the knee.

NFL career: In 2013, Carradine began the season on the non-football injury list before he was activated to the 53-man roster, where he was inactive for five games. He was placed on injured reserve on Dec. 10, 2013. … In 2014, he played 146 snaps and had 17 tackles and three sacks. … In 2015, he played 227 snaps and had 22 tackles and one sack. During the season, Carradine began transition from defensive end to outside linebacker.

Career totals: 23 games (1 start), 39 tackles, 4 sacks

THIRD ROUND (No. 100): G Brandon Thomas, Clemson (2014)

Injury: Thomas tore the ACL in his right knee during a workout for the Saints about a month before the 2014 draft. He had torn the ACL in his left knee as a senior in high school.

NFL career: In 2014, Thomas spent the season on injury lists and did not appear on the 53-man roster. … In 2015, Thomas spent the season on the 53-man roster, but did not play a snap. During the season, the 49ers promoted G Andrew Tiller from the practice squad and Tiller eventually replaced right guard Jordan Devey in the starting lineup.

FOURTH ROUND (No. 131): RB Marcus Lattimore, South Carolina (2013)

Injury: Lattimore sustained three torn ligaments and a dislocated kneecap in his right knee against Tennessee on Oct. 27, 2012.

NFL career: Lattimore never played a snap in the NFL before he retired on Nov. 4, 2014. Said Lattimore: “Unfortunately, getting my knee fully back to the level the NFL demands has proven to be insurmountable.”

FOURTH ROUND (No. 132): WR DeAndre Smelter, Georgia Tech (2015)

Injury: Smelter sustained a torn ACL on Nov. 29, 2014, against Georgia.

NFL career: In 2015, Smelter spent the season on injury lists and did not appear on the 53-man roster.

FIFTH ROUND (No. 170): CB Keith Reaser, Florida Atlantic (2014)

Injury: Reaser sustained a torn ACL in his left knee against UAB on Oct. 5, 2013. He had a second surgery in February 2014 because his body rejected the graft used from a cadaver to repair his ACL. In his follow-up surgery, a graft was used from his patellar tendon.

NFL career: In 2014, Reaser spent the season on injury lists and did not appear on the 53-man roster. … In 2015, Reaser had eight tackles in 13 games (0 starts). He played 82 snaps.

Career totals: 8 tackles, 82 snaps

SEVENTH ROUND (No. 245): FB Trey Millard, Oklahoma (2014)

Injury: Millard tore the ACL in his left knee against Texas Tech on Oct. 26, 2013.

NFL career: In 2014, Millard spent the season on injury lists and did not appear on the 53-man roster. … In 2015, Millard was waived before the final preseason game and did not play in the NFL. He signed a futures contract with the Chiefs on Jan. 5.

Summary: The blockbuster Titans-Rams trade has erased almost any chance the 49ers select a quarterback with the No. 7 pick in the NFL draft.  The Rams, of course, surrendered a draft-pick bounty to jump 14 spots to No. 1 because they plan to replace Case Keenum with either Jared Goff or Carson Wentz atop their quarterback depth chart.  With quarterback no longer a consideration, there is an increased likelihood 49ers general manager Trent Baalke will use his first-round pick on a defensive player for the fourth straight year.  [...] if that defensive player is UCLA linebacker Myles Jack, it will extend another one of Baalke’s draft streaks:  For the fourth straight year, he will have drafted a player recovering from a torn knee ligament or cartilage.  [...] Jack would count as the seventh prospect the 49ers would have selected since 2013 whose college career ended because of a serious knee injury.  With the potential addition of Jack, the 49ers would have, in effect, compiled a seven-man draft class comprised of only players coming off knee surgery over a four-year period.  Jack is viewed as an elite talent, much like Rams running back Todd Gurley, last year’s No. 10 pick who was the NFL’s Offensive Rookie of the Year despite sustaining a torn ACL in November 2014.  FIRST ROUND (No. 7): LB Myles Jack, UCLA (2016)  [...] ROUND (No. 40): DL Tank Carradine, Florida State (2013)  After the 2013 season, he had a follow-up procedure to remove a mass of scar tissue from the knee.  In 2013, Carradine began the season on the non-football injury list before he was activated to the 53-man roster, where he was inactive for five games.  In 2015, he played 227 snaps and had 22 tackles and one sack.  During the season, Carradine began transition from defensive end to outside linebacker.  [...] ROUND (No. 100): G Brandon Thomas, Clemson (2014)  Thomas tore the ACL in his right knee during a workout for the Saints about a month before the 2014 draft.  During the season, the 49ers promoted G Andrew Tiller from the practice squad and Tiller eventually replaced right guard Jordan Devey in the starting lineup.  Lattimore never played a snap in the NFL before he retired on Nov. 4, 2014.  Said Lattimore: “Unfortunately, getting my knee fully back to the level the NFL demands has proven to be insurmountable.”  In 2015, Millard was waived before the final preseason game and did not play in the NFL.


MBTA executives on Monday will recommend revamping the transit authority’s debt, a move officials said could save $235 million over the next decade.

A key part of the plan would be to terminate some costly financial contracts the agency had entered into, called “swaps,” that were meant to hedge against rising interest rates, but instead have added to the expenses of the financially strained Massachusetts Bay Transportation Authority.

“These swaps have been around for a long time,’’ said Brian Shortsleeve, the authority’s chief administrator. “They’re costing the T tens of millions of dollars a year in interest.”

Shortsleeve will present the plan to the MBTA’s fiscal control board Monday.

Swaps were popular before the financial crisis and were widely sold by Wall Street firms as a kind of insurance on large borrowings that did not have fixed interest rates. For many public agencies and institutions, they backfired when interest rates fell instead of rising.

As the T’s first chief administrator, his job is to untangle the transit system’s finances.

For example, on one swap contract the T pays $8 million a year on $161.4 million in debt with UBS Securities Inc., or the equivalent of a 5 percent interest rate. If the authority were to terminate that swap, and pay just the current rate of 0.43 percent on the underlying debt, its interest cost would be just $700,000 a year.

Under the T’s proposal, a copy of which was reviewed by the Globe, the authority would seek to terminate the UBS swap plus four contracts with Deutsche Bank, on a combined $437 million of debt.

The T also is planning to use competitive bids to get more favorable terms on the debt — the first time the authority has done so in at least a dozen years, Shortsleeve said. In the recent past, the T has done “negotiated” deals with particular bankers, rather than issuing terms and putting the bonds out to bid. The Deutsche Bank swaps date back to 2008, when the New York investment bank took them over from the collapsed Lehman Brothers.

It’s not free to get out of the swaps. It could cost the T as much as $78 million to buy out those contracts, although executives hope to get a discount. The fiscal control board will have to decide, if it moves forward on the swaps, whether to use cash or borrow money to terminate them.

The T has a total of $5.2 billion in outstanding debt. Its consultant, PFM Group, is recommending overall that the authority allow a small portion of its bonds to float at variable rates, unhedged.

The risk is that if interest rates were to suddenly rise, the T’s costs would increase, too. In that scenario, the T could refinance into fixed-rate debt, Shortsleeve said, much like a homeowner’s moving to a fixed-rate mortgage.

Summary: MBTA executives will recommend revamping the transit authority’s debt Monday at a fiscal control board meeting, in an effort to save $235 million over the next decade.


Activision Blizzard Inc. banked on a one-two punch of growing digital sales and newly acquired King Digital Entertainment PLC to deliver strong first-quarter earnings and a more robust full-year outlook.

The videogame giant’s addition of King Digital paid off from the get-go. The mobile game maker, which Activision acquired in late February for $5.9 billion, pitched in about 23% of adjusted revenue in the quarter.

After folding in King’s gamers, Activision boasts it now has 544 million monthly active users—a metric normally used by social media companies such as Facebook Inc. and Twitter Inc. While more than three-quarters of those users come from King, the company behind “Candy Crush Saga,” Activision is growing other properties, too. It said 50 million people play “Hearthstone: Heroes of Warcraft,” a mobile game from its Blizzard unit.

Activision is eager to tout its engaged base of gamers as it builds out a division dedicated to competitive gaming, also called e-sports. Next week, Activision is expected to make its e-sports pitch at NewFronts, an annual digital-media conference.

On a conference call with analysts, King Digital Chief Executive Riccardo Zacconi said one way the company may be able to squeeze more money out of its games is through advertising. The company ditched in-game ads in 2013 in favor of only promoting its own titles. But recently it’s begun experimenting with ads again in two of its games.

“Advertising could be a meaningful revenue stream for King in the long term,” Mr. Zacconi said. “It is early days.”

Piper Jaffray analyst Mike Olson said the move would be “a no-brainer.”

“It’s basically free money,” he said.

A day ago, Zynga Inc. reported better-than-expected results in part due to growing advertising revenue.

Activision posted adjusted revenue of $908 million, up 29% from a year earlier. Its adjusted profit rose to 23 cents a share from 16 cents a year ago.

Activision’s shares, which have risen 50% in the past year, closed up 1.8% at $34.91 at 4 p.m. in New York. In after-hours trading, shares were up 2.8% at $35.89.

The results trounced forecasts from Wall Street, which already had thought Activision was playing it too conservative with the numbers. Analysts surveyed by Thomson Reuters had expected adjusted revenue of $812.9 million and profit of 12 cents a share. Both figures were more than Activision had forecast for the quarter.

Under U.S. accounting rules, videogame companies defer some revenue from certain online-enabled games. Adjusted revenue counts all sales in the quarter, along with excluding certain factors Wall Street and the company don’t consider a regular part of business.

Activision continues to reap the rewards of the industry’s embrace of digital downloads. Revenues from content sold inside of Activision and Blizzard games rose 20% from a year earlier—80% when factoring in King. Activision said it doubled the number of “Call of Duty” gamers who made in-game purchases, though the average amount of money it generated from these buyers held steady.

Adjusted digital revenue rose 48% from a year ago to $797 million. Sales of digital content such as full games, expansion packs and virtual goods made up 88% of total adjusted revenues.

Activision’s revenue under generally accepted accounting principles rose to $1.46 billion from $1.29 billion. Net fell to $336 million from $394 million.

Activision expects second-quarter adjusted revenue of $1.38 billion and adjusted profit of 38 cents a share. The company nudged up its full-year outlook. It now expects $6.28 billion in adjusted revenue, up from $6.25 billion, and $1.78 in per-share profit, up from $1.75. Wall Street expects full-year adjusted revenue of $6.3 billion and per-share profit of $1.76.

Write to Sarah E. Needleman at sarah.needleman@wsj.com

Summary: Activision Blizzard’s addition of King Digital paid off, with the mobile game maker pitching in about 23% of adjusted revenue in the quarter.


Dimitrios Kambouris/Getty Images for Endometriosis Foundation of America

05/13/2016 AT 09:00 PM EDT

is feeling the love from her famous friends.

star and creator was showered with kind messages on social media Friday, which so happened to be her 30th birthday.

celebrated his lady love with an adorable post writing, "happy birthday LD love of my life I'm so thrilled you are 30 pic taken 2 hours ago wish I was back there in the car now. I'd be in hell without lena."

by sharing a collage of some highlights from her friendship with Dunham. "One of my favorite people in the world turns 30 today and I can't help but think about how different my life would've been without our long talks, arts and crafts projects, and running-into-each-others'-arms-hugs," Swift wrote. "Thanks for being you, Lena. Everyone who knows you is better because of it. HAPPY BIRTHDAY @lenadunham."

also dedicated a post to the birthday girl. "#HBD to this brilliant, creative, sparkly lady! Keep shining bright @lenadunham, and Welcome to your 30's!!" the actress captioned a photo of the pair.

that she's "really excited" to turn 30. "When I was turning 25, I felt this weird sense of dread, like... I no longer had a cushion or excuse [to fail], because if you're under 25, you're the modern equivalent of a child," she explained. "Everyone I trust has reported back to me that the challenging aspects of your 20s – the sort of stuff

is about, actually – just evaporates into the rearview mirror in your 30s."

costars Allison Williams and Andrew Rannells were also among those who wished Dunham a happy birthday, including

Summary: "I'd be in hell without Lena," Dunham's boyfriend wrote on Instagram


NORTH CHARLESTON, S.C. — Using the grassroots strategy that worked for him in Iowa and New Hampshire, Bernie Sanders is betting that issues rather than name recognition will help him win over South Carolina’s minority voters — once considered Hillary Clinton’s “firewall” against a serious presidential challenge.

And, with the primary still more than a week away, black voters in the state appear to be giving the lesser-known Democratic presidential candidate a chance to speak to the issues that matter most to their community.

“In the South, it has never been about name recognition,” Wendell Gilliard, a state lawmaker and black Democrat, told FoxNews.com. “Sanders has a grassroots message that connects with grassroots people. That’s what counts in South Carolina. … Vivica Fox, Angela Bassett and other movie stars can campaign for Hillary. But I still feel the Bern.”

Clinton, to be sure, is taking nothing for granted. After Sanders met last week with Al Sharpton in New York, Clinton also was meeting Tuesday with civil rights leaders in Harlem and delivering a speech on racial injustice.

But there is a political maxim that holds candidates must visit the “barbershops, beauty salons and Bible studies” to hear what issues really matter to people, especially black voters.

And there, the Democratic race is still very much up for grabs.

In North Charleston, S.C., where nearly 50 percent of the population is black, and poverty and jobless rates exceed the national levels, the Diamond Cutz Barber Salon is known as the spot where locals come to get a trim and talk politics. Two weeks before the state’s Feb. 27 Democratic primary, the scene was more like a town hall, with the barbers and customers talking shop about the candidates and issues.

“If candidates are going to reach out to black voters, they have to reach out to the black youth,” said 37-year-old Shawn Seymour. “They are the ones who really need the help.”

Seymour seemed to lean Clinton while his barber, Robert McFadden, appeared more intrigued with the lesser-known Sanders and his concerns about women’s rights and LGBT issues.

Neither was willing to fully commit nor seemed impressed by either candidate’s growing list of endorsements, including rapper Killer Mike for Sanders.

“Killer Mike hasn’t dropped an album in years,” the 35-year-old McFadden said over the low hum of his electric clippers.

Both argued blacks too often feel like election-year pawns and candidates don’t realize the needs of the black community are unique.

“Politicians only come to the black folks when they whine or complain or want black votes,” Seymour said, “like my granddaddy used to say.”

Both seemed resigned to the fact the election will do little to help the local community, like homeless people now living in a tent city in downtown Charleston.

“There are some issues that are solely black,” McFadden said. “We want jobs.”

Hours later, in a debate with Clinton, Sanders acknowledged the black community has tremendous problems — including poverty and over-incarceration — but still described them as part of a “general economic issue.”

Clinton’s Southern state polling lead remains substantial, despite her loss in New Hampshire last week. Recent polls show she has at least a 50-point lead over Sanders among black voters in South Carolina, who account for the majority of the state’s Democratic electorate.

However, Sanders has steadily cut her overall lead in the state, from its 58-point high in September to roughly 25 points.

Clinton indeed has close ties to the black American community, dating back to husband Bill’s terms as Arkansas governor and US president. However, much of that support abandoned her for Barack Obama in their 2008 South Carolina primary battle, which Obama won by a landslide.

Her husband was dismissive of the outcome, which resulted in Hillary Clinton eventually apologizing.

Time appears to have healed those wounds. Clinton had an 80 percent favorability rating among African-Americans, according to a Gallup poll last summer. And she has increasingly tried to tie herself to Obama, while insisting she’s not running for “Obama’s third term.”

Clinton’s impressive list of endorsements spans powerful black political leaders — including the Congressional Black Caucus’ political arm and 29 South Carolina state legislators.

‘In the South, it has never been about name recognition.’

Among them is state Sen. Marlon Kimpson, whose district encompasses where Walter Scott was fatally shot last spring by a police officer in North Charleston and the downtown Charleston church in which nine black parishioners were gunned down in June.

Kimpson praised Clinton for “immediately” seeking tighter gun laws. “She didn’t wait around like a lot of other politicians,” he said. “My constituents appreciated that. … It’s what led me to endorse her.”

Sanders has won his own key endorsements, including from former NAACP leader Ben Jealous and South Carolina state Rep. Justin T. Bamberg, a former Clinton supporter and lawyer for the Walter Scott family.

He more recently also won the support of writer Ta-Nehisi Coates, considered a leading voice among young, black intellectuals.

College of Charleston politics professor Kendra Stewart said the endorsements that really matter in South Carolina are those of Bamberg and 12-term Rep. James Clyburn, the most influential Democratic lawmaker in the state, who still remains neutral in the race.

“Bamberg’s was a signal that not all black voters have to support Hillary,” Stewart said. “It said you’re going to have to work for that vote.”

Sanders’ grassroots efforts in South Carolina include radio ads specific to potential black voters and paying some canvassers and event hosts the $15-an-hour minimum wage that he has proposed, in addition to visiting churches and barber shops.

“It’s more about meeting people where they are,” Aneesa McMillan, Sanders’ South Carolina communications director, said Monday. “We’re going where the potential voters are.”

The Rev. Isaac J. Holt Jr., senior pastor of the influential Royal Missionary Baptist Church in North Charleston, told FoxNews.com that Sanders already has been to his church — about a mile from where Scott was fatally shot — and that Clinton intends to visit.

“What we try to do is present the candidates so every member can make an intelligent choice,” he said, noting he and the church do not make endorsements.

He said his congregation includes Republicans and suggested he personally feels let down by the candidates.

“They’re so beat up,” he said Friday. “Democrats say what black churches want to hear. And it’s so much about personality that it’s hard to know what they think. What’s really missing is the enthusiasm.”

This article originally appeared on Fox News.

Summary: NORTH CHARLESTON, S.C. — Using the grassroots strategy that worked for him in Iowa and New Hampshire, Bernie Sanders is betting that issues rather than name recognition will help him win over South…


For New York City, the ship's U.S. homeport, the cruise industry contributed $1.24 billion in direct expenditures responsible for $944 million additions to the economy and 16,000 jobs, according to the Cruise Lines International Association's 2012 Economic Impact Study. Additionally, the Economic Development Corporation's 2013 Economic Impact Study found that cruise passengers and crew spent approximately $141.2 million in the city in the past year, a 16 percent increase from the year before.

Christened by Her Majesty The Queen in 2004, Queen Mary 2 has hosted guests including James Taylor, Rod Stewart, and former President George H.W. Bush.

Summary: The Carnival-owned Queen Mary 2 docked in New York City for anniversary celebrations.


SYRACUSE, N.Y. (WPIX) — FBI agents arrested a man and a woman in upstate New York for allegedly producing child pornography involving a 16-month-old baby.

According to a criminal complaint filed in the U.S. District Court for the Northern District of New York, Jason Kopp, 40, of Liverpool and Emily Oberst, 23, of Syracuse were arrested this week and charged with sexual exploitation of a child and distribution of child pornography.

On March 4, an undercover federal officer began messaging with a user known as "daymein39" on Kik, an anonymous messaging app.

The user, who displayed the initials "JK" in his messages, told the undercover officer that a female acquaintance had allowed him to have illicit contact with a 16-month-old girl. FBI agents identified both the Kik user and the female acquaintance as Kopp and Oberst.

Kopp messaged with the officer for two weeks on Kik, sending "lewd and lascivious" photos. He also told the officer that he abused the child.

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To prove his actions to the officer, Kopp had Oberst share a picture of the baby with a sign that said "4 John March 16." Days later federal agents executed a search warrant on Kopp's home.

The criminal complaint says that Kopp admitted to asking Oberst to take lewd photos of the child and distribute them. He also admitted to sexually abusing the baby. Federal agents found child pornography and explicit messages on Kopp's cellphone.

Agents then executed a search warrant on Oberst's home where she admitted to taking about 50 photos of a baby and sending them to "a man named Jason."

The relationship between Oberst and the baby is unknown at this time.

Kopp and Oberst are being held at the Onondaga County jail with no bail.

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Summary: Police said on Saturday that the pair have been held without bail on charges for allegedly making and distributed child porn with a 16-month-old baby.


The smell of smoking meats, the heat from the grill, it's what summers and good weather are made for. Don't let the good vibes at your next cookout be ruined by charred chicken, a crust of burnt barbecue sauce coating your otherwise tender ribs, or dry, tasteless pulled pork.

We love grilling and smoking meats as much as the next cook, but all that time cooking indoors doesn't necessarily prepare you for cooking on a grill. Sure, it seems simple enough, and we love the easy cleanup after cooking our whole meal al fresco, but there are things experts know that take your backyard cooking from experimental to downright delicious.

To help us achieve Pitmaster-level good food, we asked some experts what they think the most important secrets are to making great food on the grill. Our experts weighed in with tips ranging from how to shop for ingredients to their favorite tools to use to how to prep your meat for success every time.

This year before you fire up the girl, consider reading through these expert tips from America's barbecue champions, chefs, and grilling experts so that your day cooking outside turns out perfectly cooked ribs, steaks, burgers, pork shoulder and more.

For the complete list of 14 Barbecue And Grilling Secrets From America's Barbecue Champions, go to TheDailyMeal.com.

More From The Daily Meal: -- Sauced! Best Regional Barbecue Sauces -- The Rib Bible: Everything You Need to Know to Make Perfect Barbecued Ribs -- How To Grill The Perfect Steak -- Grilling & Barbecue Guide

Barbecue, BBQ, Grilling, The Daily Meal

Summary:
Grilling experts offer practical barbecue pointers about charcoal, salt and oil.
Keywords: BBQ, Barbecue, Grilling