Your latest in business -- And you're watching live coverage of the opening bell on ABC. Now when the bell this morning and he fell back. They don't marathon. I'm very happy enough for this Wednesday... See More
Your latest in business -- And you're watching live coverage of the opening bell on ABC. Now when the bell this morning and he fell back. They don't marathon. I'm very happy enough for this Wednesday November 5 hello everyone I'm -- -- -- in New York breaking business news this morning the ADP payroll report for November is out. Joining me now to discuss the report as well as all the other business headlines this morning as a new face for us. Mike cent toll senior columnist from Yahoo! finance welcome Mike we're so happy to patio. Thanks very much on here -- like let's start with the ADP payroll reported shows a 1181000. Jobs created in November. Give us your take on this number. Yeah that's. 1181000 the private sector which is -- -- DP measures it was roughly in line with the economists forecast which were looking for America 125000. It's pretty much an okay report I think is the take away. Assuming that they are correct that hurricane sandy actually did. Deduct from this number a lot of mean they're saying -- 86000. Jobs that we're not showing up in this number because of the storm. That's going to be the case for a lot of the numbers economically we're come we're going to be seeing in the next few weeks but I do think it's basically in the zone of what we were expecting. So no surprises there now a separate report shows product -- productivity up in the third quarter. Meaning workers are being given bigger workload -- think that companies are holding off. On -- -- -- because of this fiscal cliff or you just don't think they can afford to add more workers. Well I think this is a very long term trend that's gotten may be a little bit extreme in terms of companies trying to mind their work forces for more productivity the replacing people with technologies thing going off for a long time but at this point. I do think that the fiscal cliff. -- -- the drama you know the perceived uncertainty of how things are going to be next year is just another thing and -- act kind of operating as an excuse for executives not. To do very much in the way of both hiring and buying new equipment all the rest of -- -- I do think. Somewhere in that mix it fits into the story. Productivity gains at the expense of wage gains -- do you think that's something that you know again we've seen a lot of CEOs -- already been inclined to be very conservative about hiring and I feel like the fiscal cliff. Noise is just one other reason -- to stay that way. Right but at what at what point though local workers sort of revolt and say these work plans are too heavy I can't do it anymore candidate -- a -- time people are afraid of losing their jobs so they say okay okay -- is due out at a certain point they they get exhausted. It's true although I wouldn't really necessarily think of it quite as much as you know ringing the extra. Bit of labor out of every person -- I think a lot more about companies finding non -- and so -- for things to be honest with you because. To be candid be the average workweek which is a measure that that comes out with the jobs report has not been rising very which is not as if people have been you have -- have overtime thrown at them when they don't want it right I think right now it's just kind of like the standard operating -- companies right now. Is to try to first see if you can do without adding an extra body. Before you actually -- that. Hi -- rights are right now. But -- -- the latest on the fiscal Clapp President Obama will be addressing more than a hundred CEOs today as part of a roundtable. Event in Washington one of his latest what can he say. To get their backing on the debate over the fiscal clips you think. Well it's very. Say he's going to be just in the business roundtable it's kind of this marquee CEOs group out there and it's part of a broader campaign started yesterday you know the president. Giving an interview to Bloomberg News trying to get at the the business world. Really what he's trying to say is you are -- traditionally Republican constituency. And we really think you -- -- deal -- which insurers are very much the case CEOs just want this thing secured in one fashion or another so he's trying to essentially saved. -- -- -- the tax rates let us get on the path to some kind of a long term you know deficit solution. And he's going to try to court them with that idea that we need some kind of some kind of middle ground get this deal done before the first of the year so I don't think there's going to be necessarily a lot of kind of new talking points and he's gonna throw at this group. But I think it does it is a matter of standing up there and sounding very reasonable when to a group that that isn't necessarily automatically inclined to support -- democratic president. A -- I was gonna say how successful do you think his argument is going to be in front of this group regardless of the fact that they of course want to have this wrapped up do you still think that they're gonna walk away. Saying all right sounds like a plan. I actually think that you're starting to see that the CEO community which is really a lot more pragmatic than they are. Doctrinaire about certain things lying absolutism on tax rates and things like that. Isn't a little bit more inclined to say you know maybe this -- yesterday. The CEO federal express FedEx said you know if this mythology that higher tax rates is gonna hurt growth -- -- now top -- ever see. You know -- kind of a mainline hardcore conservative Republican really say so I do think you can. You can kind of make some points. With this group it's not a matter of you know they're gonna throw their whole weight. Behind -- be -- democratic proposal but I do think it's a matter of innocent of divide and conquer. Sounds like guys sounds like congress could use a little bit of that flexibility -- -- Alright. You know it's all about what you're incentives are behind you -- -- -- -- let's move on to Starbucks now -- announced this morning it is going to add at least 15100. Cafes around the country over the next five years. And you -- not so long ago we remember it was closing down shop so they have things changed that dramatically. I think they've changed in the sense that they they did feel like they need to slow down and stop just opening locations for the sake of opening and stop. There's they wanted to be more thoughtful about exactly where they were doing they don't -- -- and -- from their own existing stores but now I do feel as if the brand. It's almost like people expect the Starbucks to be ubiquitous if you go to most cities you kind of walked the block saying. You know why am I -- three blocks and there isn't one so I think they're playing on that idea -- by the way also making some acquisitions in -- they've wanna recently -- chain. Agreed to do that I feel as if they are becoming you know kind of this lifestyle brand a lot more integral to people's everyday -- I mean her company it's a sign of civilization right where's the -- -- not expect all right now Ryan Seacrest also announced today is buying a controlling stake in -- marketing firm Optimus purchase benefit -- he seems to control so much. In the entertainment world already. He does control so much but you know if it's a matter of getting the word out and what you know what we're really is the enduring streams of money in media. Is about essentially marketing and distribution making sure you can maximize how you get in front of it. There -- greatest number of eyeballs in recent greatest number of people so to me it's all about -- -- to secure that long term infrastructure for getting the content out there was trying to figure out the right -- of how to. This is -- -- work and if you actually you know can steer your way. Toward toward owning a piece of it is probably what the -- -- based on rationales. Smart move all right Mike we're gonna take one more look at the -- -- alleged outlooks like wept about 50 points this morning -- cent toll from Yahoo! finance. Thanks so much for joining us my -- thank you.
This transcript has been automatically generated and may not be 100% accurate.
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