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QUEST MEANS BUSINESS
Alex Ferguson to Retire as Head of Manchester United; How to Manage Like Fergie; Manchester United Stock Check; New World Trade Chief; European Markets Advance; Dow Holds 15,000 Level; Dollar Down; Diamond Heist Arrests
Aired May 8, 2013 - 14:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
RICHARD QUEST, HOST: Alex Ferguson calls it a day, and tonight, his management style: teamwork, transformation, trophies, and the hairdryer treatment.
The new head of the WTO tells CNN he wants to restart the Doha talks.
And a haul of stolen gems and a clutch of arrests. The case of the $50 million diamond heist.
I'm Richard Quest, we've got an hour together. Of course, I mean business.
Good evening. We start with something different on our business agenda tonight. Alex Ferguson retiring as the manager of Manchester United after 26 years. Why do we lead with this tonight? Because Ferguson transformed what is now one of the most famous brands in the world and, of course, in doing so, took Man U to new heights. His departure is as shock for fans and investors alike.
So, we are going to explore tonight the management style that made him a legend. But before we look at management, let us look at football and the man himself. And Pedro Pinto is outside the club's Old Trafford stadium.
One of those classing things, Pedro. It's one of those things that everybody knew had to come someday, but they're probably crying into their beer tonight in Manchester.
PEDRO PINTO, CNN SPORTS CORRESPONDENT: Yes, they are. It's a little bit of a gloomy atmosphere here around Old Trafford. Not too many Manchester United fans are happy about it. I can tell you, the blue side of Manchester, the City fans, might be celebrating, though.
You know, you were talking about how you're leading a business show with a sports personality, and that really shows how he transcends the sport. He is seen around the world as a leader. He is an icon. He is one of those people that we call living legends.
That term kind of gets tossed around a little bit too cheaply, but when it comes to Sir Alex Ferguson, this guy is really the real deal when it comes to being an icon in the world of sport and beyond.
A lot of people, Richard, have been questioning why now? And I was just thinking about that, because I wasn't expecting it, the players weren't expecting it, the fans weren't expecting it. But it all comes down to the philosophy he's always had throughout his life, which is -- he does things his way, and he decided now is the time and everybody just has to react to it.
I think if there was a soundtrack to his career, it would definitely be Frank Sinatra's "My Way," Richard, no doubt about that.
QUEST: All right. Now, as -- there's no questioning the success he had, but as a manager and if -- we're going to look in a second at his management style -- but Pedro, but having -- I've never met Ferguson, and for those who have, they say that meeting him and interviewing him or being with him is an extraordinary experience simply for that intensity.
PINTO: Well, I can relate. I had the pleasure and privilege of interviewing him a couple of times for CNN in various situations, before big games, after big games, and I completely agree. He had that certain je ne sais quoi that a lot of icons have.
He had an incredible amount of charisma. He was intimidating. A lot of players have used that as well that have worked with him. His hairdryer treatment that has become a famous phrase in football, was used when he was quite upset with players and was dressing them down in the dressing room.
And there's so many famous phrases that he coined in the world of football. There's no doubt that this man was a true leader, and I think if he hadn't been a football manager, he could've been a general, maybe in his past life. He could've been someone like Napoleon. This was a man who knew how to lead other men, and did it expertly. Definitely someone special, Richard.
QUEST: Now, as for the team and the club --
QUEST: -- and the company, because not only is Man U losing its manager, the CEO is going as well by the end of the year, and one's tempted to say you had better not move too many deck chairs at once before the ship becomes the Titanic. Is there a risk that Man U loses something through these major changes and --
I mean, Gill and Ferguson have worked together for many years. It has been a team that has been successful, and now that's being pulled apart.
PINTO: Look. Of course they'll lose something. They'll lose something as soon as he leaves the dugout at the end of the season. There's no doubt about it. This man is probably the most iconic football manager ever.
There are a lot of pieces that will be moved here at Old Trafford. But like you said in the beginning of our chat, it would have to happen sooner or later. David Gill, the CEO, and Sir Alex Ferguson, the manager, have worked together into creating a culture of success here, and that will be lost eventually.
I would say that the main challenge for United won't be the first year. It might not be the second year. It might be the fifth year, the tenth year, because where do you go from here? And will they find the manager who can nurture the same feeling and can create the same atmosphere that Old Trafford has had over the last 26 seasons?
It's quite an amazing accomplishment of what he's been able to do. You mentioned the 13 Premier League trophies, you can talk about that. He won two European Cups, he won countless more titles here.
But it's about more than that. It's about creating this aura of success, and it will take a lot for anyone else to be able to do that in the future, Richard.
QUEST: Pedro, who is in Manchester tonight. Thank you, Pedro. That aura of success, well, it won't be completely lost. Ferguson joins the Manchester United board, and his managerial abilities will extend far beyond football.
He's so admired that the Harvard Business School published an academic study on his management skills, and he later gave a lecture at Harvard on his various policies and secrets. Join me in the trophy room.
Now, we've got three things: creativity, criticism, and control. The management-speak of Alex -- Sir Alex Ferguson.
On the control question, he says you can't ever lose control. Well, he did it a couple of times on the sideline, but not very often. And he says quite clearly if anyone steps out of my control, that's them dead.
Some would say that's almost bullying tactics, but it certainly was a treatment for its time. Remember, control: you can't ever lose control.
As for criticism, Ferguson was renowned for the hairdryer treatment, literally blasting people who got things wrong. But it was a nuanced approach, he said. A nuanced approach was needed. Case by case, Ferguson said, and he's truly believed that nothing was more important than hearing the words "Well done."
Control, criticism, and creativity. Finding new ways to inspire a team. He saw Andrea Bocelli and used it as an inspiration, telling the squad that an orchestra was a perfect example of the teamwork that he sought.
Put all this together and you do have a unique management style that many managers today could learn from. Sky Andrew is one of England's best- known football agents who's dealt with Ferguson and says inspirational quality was the key to control, criticism, and creativity.
SKY ANDREW, FOOTBALL AGENT: How can I describe this guy? He was an amazing Man manager. He would get groups of players -- and good players -- and turn them into absolute world-beaters. He would create a world where second-best wasn't good enough. He would deal with individuals and explain to them why they weren't playing.
And that's something that's often aimed at managers. Players would often say, "Tell me why I'm not playing. Tell me why -- what I've got to do." That's what he was good at.
QUEST: But you have seen many managers, and you have seen those who've got it and those who haven't got it.
QUEST: Can you recognize it when you meet him and when you see him in action?
ANDREW: What you can recognize with him is that he knows how to deal with people one-on-one. And often, if you're trying to convince a player to join your team or you someone to play for you -- this is the big thing in football, getting a team of players to play for you.
A lot of people think, "why do you need to do that?" Because it gives you that extra 1 percent, when you've got a group of players fighting for the cause and fighting for you.
QUEST: As a management strategy, because he's the manager, he's not the coach. He's the man who's responsible for making the thing work.
QUEST: As a manager and as a management strategy, what do you think?
ANDREW: The management strategies, he could go into any business and get the best out of people, because he knows what people want, he knows how to inspire people to want to perform. And that's not easy.
ANDREW: Because in any group of players, you've got your right teams and your performers that are up for it all the time, but he knows how to get that blend. In a team, you need a blend, and that's what he's been able to do over all these years.
QUEST: So, if you had to take his strategy, if you were telling me as a manager -- I don't mean a manager in a football sense, I mean a manager in the business sense -- if you were telling me, what's the one thing to learn from what he did and what he does?
ANDREW: He inspires individuals. He inspires individuals to want to be part of a team even though they're not immediately involved. And that's the hard thing to do.
QUEST: Now, the real problem, of course, with this sort of management strategy -- and it's not unique to Man U, I can give you 1,001 companies -- is when they leave, it falls apart. How do you prevent that?
ANDREW: Again, behind the scenes, you would hope that there would be some things that he made, and then you would try to put the strategy in place. But how do you follow Sir Alex Ferguson? Over a ridiculous long period of time, he has managed to keep that team at the top of Europe, winning European Cups, FA Cups, Premier Leagues.
Why? Because he always knew when to bring someone in, when to let them go, how to inspire individuals, how to run a squad of players. Football isn't about 11 people anymore. It's about 25, 30 people. So, he's not only speaking to the 11 that are playing, he's speaking to the coaches and the people who are not playing.
That's how he galvanized this group of people to want to fight for the cause. Everybody that joins that team do not accept second best. He set the standards, he raised the bar, and everybody that played for him had to reach those standards.
QUEST: That's Sir Alex Ferguson. Man U's shares fell on the news of the departure, they are down 1.8 percent in -- that's New York trading now. But if you take a look at the share price over recent times -- well, we will do it eventually -- then you can see exactly how it has performed. Bit of a dip and then quite a long -- a sharp rise thereafter.
Coming up next, complete change of subject from Man U to WTO. We will speak to Roberto Azevedo, the new boss of the World Trade Organization. It's his first TV interview since appointment.
QUEST: The World Trade Organization has a new director-general. He's Roberto Azevedo, and he'll take over when Pascal Lamy steps down in September. Now, the new man served his time as Brazil's chief trade negotiator and an ambassador to the WTO in his own right.
In his first interview since his appointment, he told John Defterios on "Global Exchange" that reviving the Doha round talks is his top priority.
ROBERTO CARVALHO DE AZEVEDO, INCOMING DIRECTOR-GENERAL, WORLD TRADE ORGANIZATION: Yes, absolutely, it's the first priority. We have the negotiating pillar completely stuck, but it's not only about the negotiations to the extent that we can't move the Doha round, we are also stuck with all the other activities of the organization.
And there is a very large trade agenda that we have to push forward and we can't because we simply are paralyzed by the fact that we're not negotiating anything. That has been the case for the last 20 years. We have to change that, and Doha is clearly A number one priority.
JOHN DEFTERIOS, CNN EMERGING MARKETS EDITOR: It raises a very obvious question here: is this going to be an organization that pushes for free trade, or more like a global policeman that takes up trade disputes within the organization without that spirit of opening up markets?
AZEVEDO: Well, the trade dispute settlement pillar of the organization is just one of the three pillars of the organization. The other two are, of course, negotiations and also the regular work of the organization.
The trade disputes are working fine. The system is functioning. The members resort to it, and we -- I think on that front, we don't have much to do.
The problem is with the rules which are applied, and that's where the negotiations have to happen. Because the rules that we have today reflect the world that existed 30 years ago. And we have to update them, otherwise there will be a huge disconnect between the world of business that we have today and the rules which we have under the multilevel trading system.
DEFTERIOS: Mr. Azevedo, as you know, during the global slowdown, there was a propensity to put in protectionist measures. According to the World Bank, Argentina topped the list last year, but the BRIC countries are in the top 6. This is not a great vote of confidence on free trade from markets that dominate the growth right now, and your home country, even, of Brazil
AZEVEDO: Well, after the crisis in 2008, there was a slippage. It's clear to me and it's clear to anybody else who has been following trade trends that protectionist measures have been on the rise. It could have been worse, however, and the fact that the WTO is in place and the fact that we have these rules in place is one very important deterrent in -- to trying to check protectionism at bay.
We don't have much to do at this point in time. We can't look backwards. What we have to do is raise our heads, look forward, roll up the sleeves, and work. And the way to work is to update the system, get the rules in place, and make sure that we don't allow protectionism to gain ground.
DEFTERIOS: This is a big nod toward the emerging markets, having a WTO director-general from Brazil, from the developing world, is it not?
AZEVEDO: Well, it's important to have the developing world and the emerging economies being participants, active participants, even in a leadership role as well. I think that is a useful way of getting every member to engage as positively as they can, together, looking forward together.
This is not about looking at the past and trying to find who is to blame about the negotiations being stuck. This is about looking forward and making sure that we all sit down at the table on a solution-finding mode and making sure that we help the system move forward.
QUEST: The new head of the WTO has his work cut out for him, at least, of course, as everybody pledges themselves to the swift conclusion of the Doha round.
And I promise you this. I'll bet when the G8 meets in Northern Ireland, that's in the communique. You can take this to the bank. I'll bet they pledge themselves to the swift conclusion or something to the Doha round.
Another record-breaking day on the stock markets, where the DAX advanced to new record highs. Just look at that. It was a gradual and gentle rise throughout the entire session, even when New York kicks in at 3:00 in the afternoon, there, you can see it.
It was an encouraging report on German industrial production. Overall, if you take the FTSE, the Paris, and the Zurich SMI, if we look at the FTSE as well, you'll see that stocks are at an -- about a five-year high, and that's what we're expecting to continue as long as quantitative easing.
QUEST: As to New York, the Dow Jones looks like it's going to hold that 15,000 level that it saw for the first time yesterday, coaxed by strong Chinese export data, solid corporate earnings, Walt Disney, a whole host of food companies, beat expectations.
In this environment, obviously with the Fed, everything we are reading suggests this rally continues. But of course, don't take our advice for it. We're not giving investment advice.
Now to a Manchester United Currency Conundrum. We've heard a great deal about how it is a global brand. Well, the club has an online store, it's called United Direct. How many currencies will it accept? One, four, or twelve? The answer later in the program.
The dollar is down against the euro and the pound, slightly up against the yen. Those are the rates --
QUEST: -- this is the break.
QUEST: It was an audacious diamond robbery by any standards, and it happened in the heart of Brussels airport. You'll remember the case. Well, tonight, multiple suspects are in custody in connection with that $50 million heist, and some diamonds have been recovered. Atika Shubert's following the story. She's with me now.
So, to those who may have forgotten, they broke in over the fence, they drove across the tarmac, they drove up to a plane that was waiting to leave -- (inaudible) I think it was -- and they made off with the diamonds.
ATIKA SHUBERT, CNN INTERNATIONAL CORRESPONDENT: Yes. This was a stunning thing. They just basically cut through a wire link fence. They were dressed up as security officers, possibly police. They wore masks. They didn't fire a single shot.
QUEST: But the brandished a gun, I seem to remember.
SHUBERT: They did, and for that reason, they then handed over about a dozen packets of uncut diamonds. And they were able to get away with it. It took almost ten minutes. It was very, very quick.
QUEST: So, what do we know about the people they've arrested and the circumstances of this arrest.
SHUBERT: Well, we don't know exactly how they tracked the suspects down, but we do know that two vehicles were used in the original heist. They were ditched at the side of the road. One of them was registered in France, and this is where they were able to find one of the suspect they arrested, and the believe that that person was directly involved in the heist.
Now, they also arrested another eight people in Switzerland and something like 24 people in Brussels. Many of them already had criminal records for armed robbery. So, it seems to be a combination of tracking things down, but also rounding up the usual suspects.
And they did find many of the diamonds that were stolen in that heist in Switzerland. Now, they haven't said exactly how many or the value. We do know that the original value that was stolen was $50 million. We don't know if they got all the diamonds back.
QUEST: This is absolutely -- we're all fascinated by this case, aren't we?
SHUBERT: Well, it's like a Hollywood film, isn't it?
QUEST: It is. It is. No doubt it will be in the fullness of time. What are the authorities saying? What's anybody saying on this?
SHUBERT: They're saying the investigation is continuing, so there could still be more arrests. And again, they don't know that they have all the eight people that actually carried out this armed robbery, but they do have one of them, they believe, and so there could be more arrests to come.
QUEST: All right, Atika, many thanks, indeed. This is an interesting story. You say they don't believe they've got them all?
SHUBERT: It's possible that there could be more. They're not saying at this point.
QUEST: And do they say how many diamonds they believe they've got?
SHUBERT: No. They won't say the exact amount. They simply say that they do have some of the diamonds and they have several hundred thousand euros that they found in cash.
QUEST: Just making sure you're not wearing any diamonds --
SHUBERT: I wish that I were.
QUEST: Have a few diamonds. That might be just sort of a -- it's an absolutely fascinating -- Atika, watch this one, stay on this case for us. Come straight back when there's more to report.
SHUBERT: All right.
QUEST: We thank you for that. Now, QUEST MEANS BUSINESS, we continue. How one tweet marked the end of an era for Alex Ferguson's resignation. It has big implications for financial reporting. We will talk about the tweet that changed the football world.
QUEST: Hello, I'm Richard Quest. More QUEST MEANS BUSINESS in just a moment. This is CNN, and on this network, the news always comes first.
And we're going to take you immediately to live pictures coming to us from Cleveland, Ohio, where Gina DeJesus is expected to arrive home at any moment. She and two other women survived roughly a decade-long kidnapping nightmare not far from where they grew up. You know the story well.
Three men are suspected of abducting DeJesus, Amanda Berry, and Michelle Knight are expected -- no, those are the women. The three men are expected to be charged later today. Georgina DeJesus was the one who was kidnapped in April of 2004. And I assure you, the moment we do get pictures, the moment we have something happening, we will take you straight back there.
Reaction, now, to the news that Alex Ferguson's retiring as manager of Manchester United. David Beckham said on Facebook he wasn't just the best manager he'd ever played for, he was also a father figure. Ferguson will coach his last game on May the 19th.
The World Trade Organization has a new director-general, he's Roberto Azevedo from Brazil. Takes over when Pascal Lamy steps down in September. In his first TV interview, he told CNN reviving the Doha round talks on free trade is his top priority.
Eight hundred and three people have now been confirmed dead following the collapse of that eight-story factory in Bangladesh. Authorities are still searching the rubble for more bodies two weeks after the building collapsed.
More than 30 people have been arrested in connection with one of the world's biggest diamond heists. $50 million worth of rough, unpolished stones were stolen from Brussels Airport in February. The robbers cut through the airport's perimeter fence, stole the gems from the hold of a Swiss airplane.
(END VIDEO CLIP)
QUEST: When Alex Ferguson retires from Man U, he will leave behind a club that is barely recognizable from the one he joined. And at the CNN superscreen, we've got a super way of pointing it out for you.
So he was 26 years in charge of the club, '86 to 2013, the longest serving manager in the country. Now to put that in perspective, in the same time that he was at Man U, Manchester City have had 14 managers over the same period.
As for the number of trophies, 38 of them in all, including two Champions League titles were, of course, under his watch and direction.
If that weren't enough, the English Premier League, 13 titles there. Now before Ferguson came along, they won it for 26 years before they got the first title. By the way, Manchester United, they -- so United have won it 13 times; City, which has had 14 managers, has only won it once.
As for the value of the company or the club, which is one and the same thing, really, $3 billion in valuation. Only Real Madrid is more valuable in any single sport, and that was the listing in New York. Remember, there was quite a to-do about where they were eventually going to list.
And look at the number of fans, 659 million fans, part of the world's most popular club.
So thanks in part to the work done by Alex Ferguson, Manchester United is now one of the world's best known brands.
CNN's Jim Boulden looks back on the man who's created so much for so many.
(BEGIN VIDEO CLIP)
JIM BOULDEN, CNN CORRESPONDENT (voice-over): As a business model and investment, Manchester United under Alex Ferguson has few peers on or off the pitch.
STEPHEN CHELIOTIS, CENTER FOR BRAND AWARENESS: You know, Manchester United, because of Ferguson, has become the number one brand. I think they will remain the number one brand for the foreseeable future and but they've clearly lost a little bit of equity now that Ferguson's going.
He helped with the personality of the brand and he helped invigorate fans, both fans of Manchester United and other fans, to talk about Manchester United. So he will be a loss.
BOULDEN (voice-over): Look beyond the massive number of trophies and home sellouts spanning more than a decade.
"Forbes" magazine estimates Man United is worth $3.1 billion. That's about $1 billion more than the Glaser family of the U.S. paid to take over Man United in 2005. And just a tad under the value of Real Madrid. Still, Man United has some 350 million fans outside the U.K. That's according to consultant Sport Market. And that's more than double Real Madrid.
The Glaser's takeover was hugely controversial. Some fans took to the streets. Some refused to wear the team's red colors. Some started a new club. But Ferguson never said a word against the Glasers, and he remained beloved.
DAVID DAVIES, FORMER CHIEF EXECUTIVE, ENGLISH FOOTBALL ASSOCIATION: So I believe that the Glasers would let him get on and run the club and that they would support him.
BOULDEN (voice-over): The United sponsorship deals with the likes of Nike and Aon are breathtaking. But look beyond shirts. In its last fiscal year, Man United says 5 million branded items were sold around the world. And it has marketing deals with no ball film providers in 44 countries, focusing on fast-growing Asian and African markets.
But Ferguson has been the face of all this, as players have come and gone. Management specialists say it's unusual these days to see an executive leave not under a cloud.
CHRIS ROEBUCK, CASS BUSINESS SCHOOL: It's refreshing to see somebody who is so well respected with the self-awareness to say, maybe it's time to hang up my boots.
BOULDEN (voice-over): There are few leaders who can choose when it's time to go. But in this case, it's a man so tied to his employer it'll be hard to separate the man from the brand. That will be the challenge now for Man United -- Jim Boulden, CNN, London.
(END VIDEO CLIP)
QUEST: What is fascinating about Man United is the way it's a pretty well balanced moneymaking operation. Look at this: three major areas of revenues, commercial -- which of course is sponsorship and the like -- broadcast, the selling -- the sale of its matches and the EPL and matchday -- that's the receipts from corporate boxes and from fans and season tickets.
So commercial comes in at about 37 percent. Broadcast comes in at 32 percent and matchday 31 percent. So all in all, that frankly is one of the most balanced type of revenue streams, and a huge indication of why it has been so successful. That's the sort of balance you want to see. Because as one loses out, the other can pick up the slack.
As for what happened today, it's not just about Alex Ferguson leaving the job. It's also a bit of history, because everything changed with just one tweet from the top, from the Manchester United press office. And it said as follow: basically, "Sir Alex Ferguson retires. #thankyousiralex."
Now rumors have been spreading on Tuesday night that there was to be a major announcement and he was about to retire. And with the club being publicly listed on the New York Stock Exchange, under the regulations it was bound to report market sensitive information as soon as it could.
Alison Kosik is in New York.
This is fascinating for two reasons: the club will obviously bounce, to some extent, to bring this forward by the market sensitive rule; and secondly taking advantage of the new SEC guidelines that allows Twitter to make what would normally be done by a market regulatory release.
ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Very good point. A release or maybe a PR agency, you know, the club turned to Twitter. And that's OK. You know, think about it; it's fast.
It's got huge reach. You don't have to go through any middleman to do it and it's legit because U.S. regulators AKA the SEC had cleared the practice of using social media for announcements, saying companies can use social media like Facebook, like Twitter, to do just this, to release material information about their business, more specifically the SEC says companies can post financial disclosures and other important information on social media as long as they first tell investors where they will post the data.
So what they did was nothing necessarily unusual; it really is becoming more commonplace, Richard.
QUEST: Right. But that assumes that in -- and I mean -- and this is the -- this is the way the whole new world moves, that the investors know that Twitter is going to be the vehicle by which they would make, really, what is such a dramatic announcement.
And we've seen, of course, today we've seen the share price, which of course comes down, which makes exactly the point as to why this is market sensitive information that has to be released to the market en masse.
KOSIK: Exactly. And you talk about shares. Actually shares aren't doing too badly compared to where they were. This morning's shares of Manchester United down a little over 1.5 percent. You know, they were down as much as 5 percent after they opened, Richard. This is going to be an interesting stock to watch for many reasons.
But for one, you know, there really isn't any precedent at this point for how a sports team's shares react when a manager leaves. So is going to be an interesting stock to watch. And you know what, who replaces Ferguson, that's really going to be a decision that needs to be made quickly, because as you know, Wall Street doesn't like uncertainty.
Uncertainty breeds nervousness here on Wall Street. So investors really want to know as soon as possible who is going to take Ferguson's spot.
QUEST: Even more for a stock that IPOd in very controversial circumstances on the New York Stock Exchange, having been shopped around elsewhere.
KOSIK: Right. And it's done pretty well. It had a rocky first couple of months; it IPOd at 14; it's now at $18.50. It's doing pretty well, Richard.
QUEST: The market's having a good day, another record; in a word, yes or no, what's your gut?
KOSIK: Yes, every little incremental move it makes to the up side is going to be another record setting day for the Dow, for the Nasdaq. The gains are very small. The bulls have taken a bit of a rest. But stocks are still moving higher ever so slightly.
You know what, investors at this point, Richard, they don't have any reason to sell; the Fed is keeping interest rates. The Fed keeps on pouring money AKA stimulus into the market. No reason today to sell, at least not on investors' minds.
QUEST: Alison, good to see you as always. And this fascinating development, thank you, Alison, about Twitter.
Coming up next, I meet the man whose ambition it is to take India's infrastructure and make it world-class, "Business Traveller," in a moment.
QUEST (voice-over): Straightaway to Cleveland, Ohio, this is Gina DeJesus, returning home after nine years in being kidnapped (inaudible) of course from the house where they held captive to hospital. And now she has been released from hospital.
That's her father, where we see -- and there we see. We can't -- it's hard to see exactly who is what in these pictures. But there's obviously absolute jubilation. Let's enjoy the moment.
Now let's (inaudible) that Georgina DeJesus was kidnapped in April of 2004. She stopped at a pay phone in the mid-afternoon to ask if friends could stay over at her house. The answer was no. And that was the last time she was seen for more than nine years.
Absolute and understandable jubilation here. We all know, of course, Amanda Berry, the other person seen, last seen and, of course, no statement was given when she returned home. And we await to see exactly who and.
We know, of course, three men have been in -- are now in custody, are awaiting charges of kidnapping and various sexual assault charges. And let's listen in.
We believe that is -- yes, it's looking remarkably like that's her in the yellow.
Well, one cannot even begin to imagine the emotion that must be going through family and her, not only to have been held captive for nine years, but then to come back to this reception, this noise, this extraordinary, extraordinary return.
So there we'll leave the pictures from Cleveland, Ohio. As and when and the moment there is, of course, anything more to report on that, we will bring it to you. If -- be assured if she says anything, if she comes out of the house again, anything at all, we will be there.
Investigators, of course, are still questioning the Castro brothers in connection with what took place and charges are expected. Let's carry on.
(END VIDEO CLIP)
QUEST: India is putting billions of dollars towards building an industrial powerhouse that could be on a staggering scale. An immense corridor of commerce linking New Delhi to Mumbai. Amitabh Kant is leading this behemoth of an investment. The man, of course, is particularly well- known because he created at least the man behind the incredible India brand.
(BEGIN VIDEO CLIP)
QUEST (voice-over): The very prospect of a business trip to India can fill you with delight or horror.
After all, nowhere is more vibrant with an economy that present business opportunities not to be found anywhere else. It is a market we can't afford to ignore. Yet this same country of opportunity ranks low when it comes to ease of doing business.
Well aware of the urgent need for reform, the message from the government is change is on its way. The signs are visible.
Take a drive through today's Mumbai. What you see isn't the cliched India of times gone by. The cities vibrate with an unmistakable hustle and bustle. Don't get too carried away. For every symbol of progress, a reminder of the obstacles getting there.
What is undeniable is India's progress fast and furious with countless projects take India where it needs to go.
Amitabh Kant is one of those driving change. He masterminded the country's catchy tourism campaign. He's now leading India into its next phase, this time major infrastructure development, the Delhi Mumbai Industrial Corridor.
AMITABH KANT, CEO, DELHI MUMBAI INDUSTRIAL CORRIDOR: It's India's most ambitious, most challenging project. It opens up the heart of six states of India and what it does is really drives manufacturing. It creates seven new industrial cities of India. That is the task before us.
QUEST: Why not be more modest? I mean, starting off with a corridor 1,500 kilometers long at a price of $90 billion seems a bit excessive.
KANT: India needs to make a quantum jump. The aspirations are so high, 350 (ph) million Indians are going to get into the process of urbanization by 2030. Seven hundred million Indians by 2050. India has to create (inaudible). That is the challenge for India.
QUEST: And interestingly, I was looking at the numbers: 7 -- roughly 6.8, 7 million international inbound. But 800 million domestic travelers. That's a growth area.
KANT: Yes. I mean, it's the rise of the Indian middle class. And by 2021, that is 7 percent of India's GDP, will come from this middle class, which will drive India's growth.
QUEST: That growth requires infrastructure and building at the right pace. Outside the gleaming walls of the Overoinga Gown (ph) lies the cautionary tale of what happens when you put development before infrastructure.
KANT: The city, once it sprung up, is now doing retrofitting. You're seeing the new power lines coming up. You're seeing drainage and sewage coming up. And actually, the city has grown much faster, much quicker, much more rapidly than the infrastructure has been able to cope up with.
QUEST: So you're aiming to prevent this sort of backfilling by getting ahead of the game?
KANT: So you need to have a very good play on the backbone of a city being created and then allow the private sector to come in at the appropriate time.
Where do you see is brilliant work by the private sector and the failure of the state.
QUEST (voice-over): Avoiding the pitfalls of this retrofitting approach to infrastructure is the cornerstone of Kant's vision and goal. The DMIC is on a different scale entirely, and the tasks ahead are immense.
KANT: India has to push for reforms at twice the speed at which it has been doing. And I think the important thing is that we must think big, think large. And that's what this project does.
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QUEST: The DMIC and Amitabh Kant. We'll be back in a moment.
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QUEST (voice-over): The answer to tonight's "Currency Conundrum" on Manchester United, how many currencies does the club's official online store accept? I would have said 12, but the answer four, pounds sterling, U.S. dollars, euros and yen.
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QUEST: Very well. The World Economic Forum on Africa has begun in Cape Town and the theme is delivering on the continent's promise. This year that promise is growth, which is forecast at 5 percent of the whole of sub-Saharan Africa.
Robyn Curnow met one woman who is part of a new generation of entrepreneurs.
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When you open the app phone, you can always just go to the application directly; open it up and it'll take you to where you were last time.
ROBYN CURNOW, CNN HOST (voice-over): In many parts of the world, using a smartphone is pretty common. But now they're taking Africa by storm. And Rapelang Rabana shows me how innovative technology she and others are developing are changing the economic and social fabric of many countries on this vast continent.
RAPELANG RABANA, FOUNDER, RE-KINDLE LEARNING: The ability of technology to be able to do something like that is what -- is what the (inaudible) game-changer is about. It's no longer going to be about privilege and access. It allows information and access and resources to filter more.
CURNOW (voice-over): At just 28 years of age, Rapelang Rabana is one of South Africa's leading entrepreneurs. She cofounded an innovative software company creating mobile phone apps that allow users to communicate for free over the Internet. She now concentrates on her newest venture called Re-Kindle Learning, a mobile education platform.
RABANA: (Inaudible) a mobile learning platform I'm proposing called Manage Power (ph). So I'm provided by my company, Re-Kindle Learning, it allows local teachers to create their own local content. So it's not taking American or European curriculum. And it'll make it much more relevant to the students today.
And they are able to bring that information into small chunks, present it on cell phones that allows them test themselves and reinforce the knowledge that they have gained in a classroom environment.
CURNOW (voice-over): Young pioneers like Rapelang are examples of Africa's emerging middle class, causing consumer spending to rise potentially by up to 35 percent in 2015, according to the African Development Bank. And burgeoning industries like telecommunications are attracting the eye of global investors.
CURNOW: Africa is growing economic power (inaudible) focus that Cape Town gives up for the World Economic Forum. Now the International Monetary Fund estimates that by next year, Africa's economy could grow more than 6 percent, making it the fastest growing region in the world.
CURNOW (voice-over): But make no mistake: Africa still has a long way to go. Conflicts raging in places like Mali and the Democratic Republic of Congo highlight the fragility on the continent. And deadly droughts and famines are continuing to kill thousands of people in East Africa. Much of the newfound wealth is coming from natural resources like coal, oil and gas.
And China is a major investor. And Africa's largest trading partner. Trade reached a staggering $166 billion in 2011, up from just $11 billion a decade before, according to the Africa Research Institute.
BORGE BRENDE, MANAGING DIRECTOR, WEF: Economic growth is a prerequisite for Africa when it come to also (inaudible) the young people. More than 70 percent of the people of Africa is under 30 years old. And millions of jobs have to be created. They also need to product higher up in the value chain and start to manufacture and not only export natural resources.
CURNOW (voice-over): Although the plentiful supply of natural resources have paved the way for Africa's emergence as a global driver, it is other elements that are helping to unlock the potential of the continent's future -- Robyn Curnow, CNN, Cape Town, South Africa.
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QUEST: What other business program brings you Sir Alex Ferguson, takes you to India and also stops in Africa on the way and, of course, has a "Profitable Moment" after the break?
QUEST: Tonight's "Profitable Moment": new leader, same old problems. No, no, no, not Manchester United. I'm talking about the World Trade Organization, an event (inaudible) the new man in charge. He's already told CNN he has one main priority: to fix the Doha round.
Well, excuse me, sir, if I don't start popping the champagne corks yet. The Doha round is a byword for diplomatic farce. The outgoing head, Pascal Lamy, tried as hard as he could to get it fixed, but time and again the countries involved wouldn't play ball and he failed. It's been more than a decade since we started on it.
So look, it's time to get started and deal with it and do it. I'm not a betting man, but I can't help feel that we might see another Man United boss quit. Well, in fact, almost certainly, we could see another Man United boss quit before we see the Doha round completed and done.
And that's QUEST MEANS BUSINESS for tonight. I'm Richard Quest in London. Whatever you're up to in the hours ahead, I hope it's profitable.
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QUEST (voice-over): The headlines at the top of the hour: the kidnap victim, Gina DeJesus, has arrived home. She and two other women survived a decade-long kidnapping nightmare not far from where they grew up. Three men suspected of (inaudible) Amanda Berry and Michelle Knight are expected to be charged today.
And we look at pictures from what's happening outside their home, it does seem that microphones are being set up, live pictures and we will, of course, bring you any results (inaudible) in that.
Eight hundred three people have now been confirmed dead following the collapse of that eight-story factory in Bangladesh. Authorities are still searching the rubble for more bodies two weeks after the collapsed building.
More than 30 people have been arrested in connection with one of the world's biggest diamond heists; $50 million worth of rough and polished stones were stolen from Brussels airport. The robbers cut through the perimeter fence and stole the gems from the hold of a Swiss airplane.
Alex Ferguson is to retire as Manchester United manager after 26 years after transforming the club into what's now one of the most famous brands in the world. Everton manager David Moyes is the favorite to replace Ferguson.
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QUEST: You are up to date with the world's news headlines. I remind you that if and when somebody speaks outside the DeJesus home in Cleveland, we will take you there. For the moment though, now to New York because "AMANPOUR" is live.