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Quest Means Business

Mayweather, Pacquiao Set for Final Press Conference; Boxing Fans Priced Out of Tickets; Fight Could Break Pay-Per-View Record; Live Mayweather, Pacquiao Press Conference; US Markets Lower After Weak Growth; Global Growth Slow; Strong Euro Hits European Stocks

Aired April 29, 2015 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[15:59:55] (NEW YORK STOCK EXCHANGE CLOSING BELL)

RICHARD QUEST, HOST: So, the market bell is ringing, the Dow is down some 69 points. The Dow is down, but not out. Hit the gavel! One, two,

three. A hefty gavel. It's the end of a knockabout session on Wall Street and --

(BOXING BELL RINGS)

QUEST: -- the beginning of a real knockabout. The showdown between Manny Pacquiao and Floyd Mayweather. The two men are about to have a press

conference. It's going to be a press conference ahead of the fight of the century. You're going to hear that press conference, you're going to hear

those involved on this program.

I'm Richard Quest. I mean -- ha! -- business.

Good evening. It's a knockabout, rock-and-roll session tonight on the program. Forget the world of business in its purist sense or, indeed, much

else. What we're going to bring you may be the biggest money spinner in sporting history and the prelude to it.

(RINGS DESK BELL)

QUEST: This hour, you're going to see Floyd Mayweather and Manny Pacquiao square off for the last time before they finally take their

corners in the ring in Las Vegas this Saturday.

Now, they'll be putting the gloves aside and they'll be sparring with words alone at a press conference that's due to begin any minute at the MGM

Grand in Las Vegas. And there you see the feed to us coming from Las Vegas, and we'll be bringing you that press conference.

Bear in mind, you're talking about tickets for this fight, which sold out in minutes, and which are now changing hands for $125,000. The pay-

per-view prices are $100 for an individual feed. Of course, there are many parties and the like.

So, while we put this in to get all perspective, earlier I spoke to Manny Pacquiao's promoter, Bob Arum, and I asked him about a comment that

he made last week. Thinking of the cost of how much these tickets are going, he said, "The One Percent have so much money, they don't know how to

spend it. We've never seen anything like it in all of boxing, and I don't think for any sporting event."

(BEGIN VIDEOTAPE)

BOB ARUM, FOUNDER AND CEO, TOP RANK (via telephone): It's part of the world we live in. One percent of the people are making money like they

can't imagine and the cheapest commodity that they have is the cash money. So, whatever is charged, if people want it, they'll pay it.

I've never seen anything like it. I'm 83 years old, so I've been around different eras. But what's happening now with the One Percent,

whether it's buying yachts, fancy cars, or whatever, has really changed the academy.

QUEST: Do you regret, Bob, that perhaps in the audience, in the auditorium, there will not be as many true boxing fans because they simply

couldn't afford the tickets?

ARUM: Well, I think that's so, Richard. I mean, so many people will have been priced out of this fight. That is sad. And then, of course,

there's, well, why didn't you have lower prices for the tickets? And the reason is, because that wouldn't have helped either. Brokers would have

scooped up all the tickets and charged the same amount as they're charging now.

QUEST: We're talking about good, old-fashioned supply and demand, Bob, economics. You can't beat it, can you? You have to just ride it as

best you can.

ARUM: Absolutely. And it would be hypocritical to me to deride it when myself, my company, and Manny Pacquiao and I guess Floyd and his

company are deriving so much benefit from this.

QUEST: At least you can see both sides of that point. So, the breakdown of 60 percent, 40 percent, does that suggest Manny is the

underdog? And if that does suggest that, I've seen your comments say it ain't going to save him from getting knocked out by Manny. But going into

the fight, how does it look?

[16:04:57] ARUM: Well, the reason we agreed to a 60-40 is that Manny for years has been after me to make a fight with Floyd Mayweather. And

with Manny, he's not particularly money-driven. So, he was willing to take the short end of the stick in order to get the fight done.

And believe me, the taking the short end of the economic stick will still be a lot of money, and he will have the satisfaction not only of

winning the fight, but beating Mayweather up and perhaps knocking him out.

QUEST: Ah, you're predicting a knockout there, Bob.

ARUM: I'm predicting a knockout or extraordinarily decisive victory.

QUEST: Was this the hardest fight that you have had to put together? Five years in the making, if not longer. Certainly the negotiations seemed

to be long and torturous.

ARUM: Absolutely, Richard. It was a very, very hard road. And one of the reasons it was is because the people with Mayweather didn't want the

fight to happen, because like me, they foresaw what would happen this coming Saturday, a victory for Manny Pacquiao, and they didn't want to risk

Floyd's undefeated record.

QUEST: How important are these press conferences? How important are these last-minute chances to psych the other side before the actual fight?

ARUM: Well, sometimes they are. Like the great Muhammad Ali, as they said, won many of his fights before the fighters got in the ring because he

so played with his opponent's mind.

But Manny Pacquiao is a different, different kind of athlete. He's not looking to play with Floyd Mayweather's mind, and when Floyd tries to

affect Manny, Manny will ignore it and it will have no effect on Manny. But yes, press conferences very often are used by different fighters to get

a psychological advantage.

(END VIDEOTAPE)

QUEST: Fascinating to hear Bob Arum talking about this man right at the heart of it. Now, Floyd Mayweather is throwing a big right hook at his

own records with this flight with its $99 price tag for viewers. And many think it will break the record as the highest-grossing pay-per-view event

ever.

(RINGS BELL)

QUEST: In 20 -- 2002, the match between Lennox Lewis and Mike Tyson brought in $112 million and cost $55 for viewers at home.

(RINGS BELL)

QUEST: Mayweather fought Oscar de la Hoya in 2007. That set the record for the most pay-per-view purchases. It cost $55 as well and

brought in $136 million.

(RINGS BELL)

QUEST: And in 2013, Mayweather set the record for the most money brought in through pay-per-view when he fought Saul Alvarez. It cost

viewers $75 a pop and it took in $150 million in pay-per-view.

Don Riddell joins us from the CNN Center. Listening to Bob Arum, there, talking, I could see he was -- it was just agog to hear this man say

this is the hardest fight that he's ever had to broker and put together.

DON RIDDELL, CNN SPORTS CORRESPONDENT: Yes. But hopefully, it will all be worth it. These two guys could've fought five, six years ago,

Richard. I think what's really interesting is that if they had fought five or six years ago, when arguably they were both very much in their prime,

they would have made a lot less money out of it.

I've just finished reading Pacquiao's autobiography, which he wrote in 2010. And he says at the end of the book --

(AUDIO GAP)

QUEST: -- not a boxing aficionado by any means, so when Arum says that Pacquiao is a potential knockout or he's looking for a decisive

victory, is he being promoter, or is there strong evidence behind it?

RIDDELL: Well, there's a bit of both. Of course he wants to sell even more pay-per-view tickets. That's, I think, largely what this press

conference today is about. I don't really --

(AUDIO GAP)

RIDDELL: -- even more publicity and selling even more tickets. But Pacquiao has a chance for sure. Of course he's lost several fights during

his professional career, unlike Mayweather.

[16:09:59] But he is a very, very dangerous, explosive fighter. He throws a lot of punches. He can wear his opponents out. And he has been

known to catch his opponents unawares and --

(AUDIO GAP)

QUEST: Now, the other interesting point here is that the money is going to the fighters. Now, sportsmen often complain that everybody else

takes their cut, but those who actually do the hard grunt work don't get the full whack.

By the time you've got promoters and you've got networks, and you've got agents, and you've got marketing and all that. But here, the money is

going to them. And in an 80 -- in a 60-40 ratio.

RIDDELL: Yes, well they're not --

(AUDIO GAP)

RIDDELL: -- nickname is Money. They're called the Money Team. And he has really broken the mold and shown how athletes, when they're in kind

of individual sports like boxing, really can take control of their own destiny --

(AUDIO GAP)

QUEST: -- get your point. Thank you, Don. Don Riddell joining us.

Now, only five people in the world know what it's like to have fought both men, and Oscar de la Hoya is one of them. I asked him if he thinks

his pay-per-view record with Floyd Mayweather, some 2.5 million, is going to be broken on Saturday.

(BEGIN VIDEOTAPE)

OSCAR DE LA HOYA, RETIRED PROFESSIONAL BOXER: It feels as if this fight will break the all-time pay-per-view number. I really hope it does,

for the sake of the sport. I'm rooting for Mayweather and Manny to put on a tremendous, tremendous fight.

For me, it's kind of like a bittersweet moment, because I don't want the record to be broken, but at the same time, it's great for boxing. This

event is going to be massive, and I'm really glad that the sport is getting all this attention.

QUEST: That money is in the hundreds of millions of dollars, and most of it is going to the fighters, not to the networks, which of course is an

interesting change, isn't it? The fighters now get the bulk of the money involved.

DE LA HOYA: Floyd Mayweather and Manny Pacquiao will be looking at a substantial amount of money that they'll be generating and they'll be

keeping for themselves. So, this is probably the biggest and the richest fight in boxing history.

QUEST: Does it tell us anything about the popularity of boxing and -- the cultural aspects of boxing, or does it really just tell us about this

particular fight between these two men?

DE LA HOYA: It really shows us what boxing can be. If you take a look at the history of the sport, Muhammad Ali and Mike Tyson and myself

and Julio Cesar Chavez, the greats of boxing, we've always been able to --

(AUDIO GAP)

DE LA HOYA: -- numbers, we've always been able --

(AUDIO GAP)

DE LA HOYA: In this particular case, we've been waiting for this fight for about five years, now. And so, the anticipation of the best

fighting the best has been going on for so long now that people cannot wait to watch this fight. It's going to be a great fight. People are paying

any amounts of dollars to witness this historical event.

QUEST: Now, you've fought both men, and I'm just going to quote some of the lines that you've said about. You say, "Manny is strength,

conditioning, and heart. He wants to always prove that he's better than you physically. Mayweather just outthinks you, outboxes you, outsmarts

you."

So, sir, when Mayweather meets Manny, which wins? Is it the outsmarting and the outthinking or is it the physical strength, the

conditioning, and the physicality. Which is it?

DE LAY HOYA: If Manny Pacquiao shows up on May 2nd and does not get tired, and he throws punches every minute of every round, he has a great

shot at surprising Mayweather. But if Mayweather has any -- the slightest vindication that Pacquiao's getting tired, then Mayweather's going to

capitalize and then bounce on his toes and maybe win a relatively easy decision.

QUEST: Who do you think is going to win?

[16:15:00] DE LA HOYA: My head is with Mayweather and my heart is with Pacquiao.

(LAUGHTER)

QUEST: And you're a true diplomat. You're an absolute -- will you be there to witness it? Having fought both men, you should --

(AUDIO GAP)

QUEST: -- watch.

(LAUGHTER)

DE LA HOYA: I actually do have my seat, but I'm still thinking about it. This is an event that is a must-see, and I'm really looking forward to

it. As a boxing fan, I will be there.

(END VIDEOTAPE)

QUEST: Oscar de la Hoya talking there. And with the seats going at $125,000 on the black market, well, maybe, you get a good seat and you sell

your ticket, and you can still watch it online.

All right. This is the press conference that's taking place at the moment. Let's dip in and just listen to the promoters before we hear from

the men themselves.

UNIDENTIFIED MALE: -- state of Nevada to host and regulate a fight of this magnitude. Our commission and our executive director, Mr. Bennett,

have done an amazing job of vetting and selecting the officials for Saturday.

The officials have worked their entire career to ensure they are prepared for any fight. They have studied, they have trained, and they

have proven they can do the job.

As regulators, we embrace the opportunity and take the responsibility extremely serious. Let me be clear. We are ready.

Thank you to Mr. Mayweather. Thank you to Mr. Ellerbe of Mayweather Promotions, and to Mr. Arun and Mr. DuBoef of Top Rank for hosting the

upcoming fight in Las Vegas, Nevada, the fight capital of the world. We appreciate Showtime and HBO for promoting our great city to the world.

Another thank you is to the MGM and Mr. Stern. I hope as I continue to grow up, I'm able to maintain a calmness through chaos that Mr. Stern

has displayed through the last few months. Thank you, Mr. Stern.

We'd not be here today without two of the greatest athletes in the world. So, Mr. Mayweather, Mr. Pacquiao, best of luck to you. Thank you

for what you do for our sport. See you Saturday.

(APPLAUSE)

LEONARD ELLERBE, CEO, MAYWEATHER PROMOTIONS: Now I'd like to introduce our co-promoter, none other than legendary Hall of Fame promoter

Bob Arum.

(APPLAUSE)

ARUM: Thank you, Leonard. And as I've said to everyone, you're a real gentleman, and I mean that to the bottom of my heart. And it was a

pleasure working with you to the extent we were able on this promotion.

This is a great, great promotion. Two great fighters. It is wonderful for the sport of boxing. And indeed, I hope that this sport will

help elevate the rest of boxing. I think, based on the interest in this fight, there has been an increased interest in boxing as a whole, and

that's great.

I'd like to thank Lucia McKelvey, the marketing director of Top Rank, who has secured for the event so many of the sponsorships. Principally --

and we'll hear from them in a few minutes -- Tecate Con Caracter, Paramount Pictures and Skydance Promotion -- Productions, "Terminator Genisys."

Paramount Pictures and Skydance Productions "Mission Impossible: Rogue Nation."

The Weinstein Company, the new movie "Southpaw," in theaters everywhere July 24. Mexico Tourism, Mexico: Live it to Believe it. And

Smart Communications of the Philippines. This is an outstanding array of sponsors, and they have helped finance this event in record, record

amounts.

I also want to thank Lucia for securing great sponsorships for our hero, Manny Pacquiao. Namely, Footlocker, Nike, Wonderful Pistachio,

Nestle Butterfinger Cup, and a surprise sponsor that will be revealed in the next two days and will knock everybody's socks off.

[16:19:58] But now, I'd like to introduce, representing our principal sponsor, Tecate, which as you know has supported our Top Rank boxing

program for over the years, they're great, great friends, and representing Tecate is a gentleman from the parent company, Heineken of Mexico, please

welcome Franco Madden (ph). Franco?

(APPLAUSE)

UNIDENTIFIED MALE: Ladies and gentlemen, it's a true honor and privilege to be here this afternoon representing Tecate. In fact,

representing Tecate for Mexico and for the United States. It is truly, truly an exciting moment for Tecate. It's an exciting moment for the

company. Also personally, it's an exciting moment being here so close to so much talent, so much character, so much strength.

Many times we've been asked why we wanted to be part of this. The reason is very simple. This is history in the making, and we want to be

part of history. With Tecate, we want to be the most recognized brand with box, connected with box.

QUEST: All right. So, there we're going to take a -- going to leave Las Vegas just for the moment. As you can see from the coverage so far,

the two men, Mayweather and Pacquiao, are there. They're listening.

What you're listening to is a fascinating side, because you're hearing the business side of boxing, the thanks to the sponsors individually. The

prospect of another sponsor coming onboard for Pacquiao in the next 48 hours.

Be assured, we will be back in Las Vegas when the men start to speak and answer questions to see how they psych each other up ahead of the

fight. We'll take a break and come back in a moment. QUEST MEANS BUSINESS.

(RINGS BELL)

(COMMERCIAL BREAK)

QUEST: QUEST MEANS BUSINESS, we're going to be listening in on the press conference with Floyd Mayweather and Manny Pacquiao. The conference

-- there's a lot of talking going on at the moment -- well, obviously, that's what they do at a press conference -- but by the promoters and by

the -- everybody and their brother seems to be making a speech.

Oh, the history of the sport, on we go. Lots of hyperbole as well. We'll be back with the two men to hear them speak when it's time.

To the markets and how they've traded. US markets closed the day lower after signs of economic growth were sluggish at the start of the

year. The market was very sharply down just around lunchtime, but did sort of recover towards the end of the day.

But this worry about economic growth -- and what's interesting about this, of course, is it should, of course, suggest that the Fed will keep

rates lower for longer. So you have to just really take one day at a time when you see these sort of numbers.

The American economy has cooled down, and that's what we learned today from the GDP number. Analysts had expected a growth of 1 percent in Q1,

but if you look and see, that was the estimate of 1 percent. The strong dollar put that on ice. It's made cars, US products, exports, more

expensive abroad, such as vehicles, and less attractive to foreign buyers.

[16:25:03] Also, business spending fell dramatically. Investments in the premises -- that's things such as offices, workups, warehouses -- they

were dramatically down some 23 percent between January and February. The worrying trend, of course, if that continues, does it move over into

consumer spending, which would be disastrous for growth?

There was the cold weather. Record snowfall in some parts of the country in the US, canceled flights, businesses shut, schools that were

closed.

So, instead of that 1 percent number we were talking about, you get economic growth of just 0.2 of 1 percent. An estimate of 1, a reality of

0.2 In the future, there may be a bounce back, there may be a claw back. That has to be seen.

I spoke to Bill Rhodes, the president and CEO of William Rhodes Global Advisors. He's a senior advisor to CitiGroup, and I asked him why the

world was seeing such slow growth at the moment.

(BEGIN VIDEOTAPE)

BILL RHODES, PRESIDENT AND CEO, WILLIAM RHODES GLOBAL ADVISORS: Well, I think we're in a slow growth world economy. Just take a look at what's

going on in China. I think the figures of 7 percent for the first quarter are not realistic. I think it's more 6-something. Some people go even

into the 5 range.

And I think that what happens in China really, as the world's second- largest economy, really affects the rest of the world. Europe is coming back, but at a slow pace. And then, of course, you have the BRICS. And

the only BRIC that's really having decent growth, now, is India.

QUEST: And even there, of course, with the new government in India, there are some problems, which have still -- many problems still to be

addressed.

RHODES: Exactly.

QUEST: So, in the United States --

(CROSSTALK)

RHODES: But Modi -- but you've got to give Modi credit, because he's turned the momentum around.

QUEST: In the United States at the moment, as it heads towards an election, there is growth, unemployment is down, but you've now got these

racial problems, which are just seemingly exploding. How worrying is the situation?

RHODES: Well, I think that's something you always have to worry about, and I think that's a longer-term issue. A lot has to do with

education and jobs. And they have to be worked on, there's no doubt about it.

And one of the things that's going to happen in this next election, I think it's going to be what I call the middle class revolts syndrome, in

the sense of the middle class feels that they've been left out. I think areas like education are going to be very, very important, as well as jobs.

QUEST: Where do you now still think the Fed is going to tighten this year?

RHODES: I still feel they'll do it in September. Why? Because I think that the second quarter should come back pretty strongly. Because

all the events that kept it to such a bad figure in the first quarter, i.e. the bad winter, like last year, the port slowdown in the west coast won't

be there. What you have to really question is the role of the dollar.

QUEST: The role of the dollar, which weakened today somewhat.

RHODES: Exactly. Which is good for US exports.

QUEST: Greece. What is going to happen there? You have spent your life putting out financial fires, dealing with crises, parachuting in and

restructuring debt. Have you ever seen anything quite like this?

RHODES: Well, I've seen a lot of things similar, but of course, what makes it different is it's in the middle of the eurozone. And I think

what's going on here is that if you read the manifestos of Syriza when they ran in the election, you should not be surprised. Because a lot of the

party are basically former Communists.

And I think what's going on is also some differences within the government between the prime minister Tsipras and Varoufakis, who has

become an idol, now. He loves to be on television, et cetera, the finance minister. I think at the end of the day, there is going to be some sort of

an agreement, but I -- you may have a default in the meantime.

QUEST: Really? Thank you very much.

RHODES: But not a Greek exit.

QUEST: Not a Greek exit?

RHODES: Right.

QUEST: You really believe there won't be an exit?

RHODES: No.

(END VIDEOTAPE)

QUEST: It doesn't get much more blunt than that: no Grexit, according to Mr. Rhodes.

The weak GDP report in the US pushed the euro higher, and that walloped European stocks. Look at those losses! The Xetra DAX down 3

percent -- more than 3 percent. Volkswagen fell 3.5 percent, even after it reported a rise in profit.

Now remember, of course, Volkswagen had some serious problems with change at the top when it lost its chairman. The carmaker says 2015 will

be a difficult year for the auto industry, and certainly for them as they've lost their chief executive.

Yanis Varoufakis has been criticized by EU officials and sidelined by his own prime minister. The latest humiliation for the Greek finance

minister, a physical attack, apparently, while he was at dinner with his wife.

[16:29:58] (COMMERCIAL BREAK)

QUEST: Hello, I'm Richard Quest. There's more "Quest Means Business" in just a moment when we'll be bringing you all the details of what's

happening in Las Vegas. Before any of that, this is CNN and on this network the news always come first.

The death toll from Saturday's earthquake in Nepal has now passed 5,000 people. Officials say more than 10,000 people are injured. Rescue

workers are still battling against tremendous elements to get to survivors. The U.N.'s launched an appeal for almost half a billion dollars in urgent

relief.

On the streets of the capital Kathmandu where thousands of people are sleeping in tent cities, some people claim they are being taken advantage

of.

(BEGIN VIDEOCLIP)

Female: When we arrived here, they are saying we have to pay our money -- hundred to be (far head) and one thousand to (beef farms) (around

14). And how can we adjust here? How many days can we adjust?

(END VIDEOCLIP)

QUEST: Now let me warn you that the video we're about to show you, some viewers may find disturbing. New footage has emerged of the moment of

the 7.8 magnitude earthquake hit Kathmandu. You can see people walking and riding on a busy street as the shaking begins.

And as people start to realize what's happening and run, a tall gate comes crashing down to the street amid clouds of dust. We don't know if

anyone was killed by that collapsed structure.

Australia has recalled its ambassador to Indonesia after the executions of two Australian nationals. They were among eight convicts

that Indonesia executed for drug offenses. The two were said to be leaders of the Bali 9 drug-smuggling ring.

UNICEF says 1.7 million children are in urgent need of aid in the hardest-hit areas of Nepal. And the organization's appealing for $50

million for humanitarian assistance. UNICEF warns of a growing risk of disease that could outbreak at any point.

The worst-hit places are the capital - Kathmandu - and the surrounding valley districts. The impact in hilly areas is still being determined.

Now the rescue teams continue to search through the destruction. Sanjay Gupta reports.

(BEGIN VIDEOCLIP)

DR. SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT: We know the official death toll here in Nepal went up by at least one today. Neighbors

watched from nearby windows still clinging to hope. After all, this four- month-old baby was rescued after more than 22 hours under the rubble - alive with no apparent injuries.

[16:35:04] This man was buried for roughly 80 hours. Rescue workers administered oxygen and an I.V. drip while they spent ten hours digging him

out. There is hope everywhere you look and there are reminders of the people who once lived and breathed in this tiny village.

A child, once happily sipping on this bottle or seeking comfort with this teddy bear pillow, a notebook with pictures of family, a pair of

shoes.

They were carpenters, mechanics, jewelry makers. And there are the survivors old and young and ridiculously cute.

Just looking around the small little town outside Kathmandu, you get an idea of the type of people that lived here - the pride that they took in

all things around them.

This five-story temple built in the 17th century stayed standing when so many of the surrounding buildings tumbled to the ground. These lovely

smiling faces saw that as a blessing - yes, a blessing -- even while the earth shook from its core.

Last Saturday at 11:56 a.m., a woman shouted out from her second-story window to alert everyone else to the initial tremor. But then she didn't

make it out herself. She died trying to say others. They've already been able to identify the person - this woman. And she's 45 years old. They

showed us this I.D. card - her name is Pershferry (ph), she has two boys. They were able to survive and now we know she has perished in this as well.

It is such incredibly, incredibly grim work. Can you tell me what kind of person she was? How would you describe her?

Male, INTERPRETED BY GUPTA: "She was a very good person," he told me. "She was a mother and she was my friend."

GUPTA: It is clear Pershferry (ph)won't soon be forgotten. Yes, the death toll went up by one more today, but Pershferry (ph) is not just a

number. She will be remembered along with hundreds more souls who are still being recovered from this ancient city because the reminders are

everywhere, growing stronger like the flowers among the rubble.

(END VIDEOCLIP)

QUEST: Dr. Sanjay Gupta there with a report from Nepal.

Yanis Varoufakis hasn't been able to talk to his country's creditors into a deal. But still the Greek finance minister

found a use for his negotiating skills outside this Athenian restaurant. Anarchists threw glass objects at the finance minister and his wife and

demanded that they leave the area.

Mr. Varoufakis said his wife shielded him as the attackers moved in. He later spoke to the group outside the restaurant in

a conversation described as tense but non-violent.

Earlier in the week, the Greek prime minister sidelined Varoufakis in negotiations with the country's creditors. On

Twitter Mr. Varoufakis invoked the words of American President Franklin Delano Roosevelt from a speech announcing the second New Deal in 1936.

"They are unanimous in their hate for me; and I welcome their hatred," he said. He described it as "a quotation close to

my heart and reality these days."

The new Greek government is beginning its fourth month in office. And as Claire Sebastian tells us, the Greek people are

starting to lose patience.

(BEGIN VIDEOCLIP)

CLAIRE SEBASTIAN, CNN PRODUCER: Lila and her husband Stathus (ph) should be enjoying some of the best days of their

life. He is a computer developer, she is a commodities trader and they're raising a six-month-old son. Yet they're too busy worrying about the

future.

LILA FLOROU, COMMODITIES TRADER: I'm really scared and I always have constant anxiety about these years. It's really

exhausting.

SEBASTIAN: CNN met this couple back in January just before the elections. Lila had decided not to vote for anti-austerity

party Syriza while Stathus (ph) was willing to give them a chance.

STATHUS FLOROU, COMPUTER DEVELOPER : It's a new party, fresh ideas and it's going to change what is already rotten (ph).

SEBASTIAN: Three months on, he says they haven't delivered.

S. FLOROU: They have done too little in reforming and producing thoughts about reforms and acting about it. So this is -

this brings Greece to a tax port (ph).

SEBASTIAN: Greece's new leaders have spent the last few months locked in negotiations with their international creditors

with little to show for it with a diminishing balance sheet and damaged relations with Europe.

Stratos Faneras heads one of Greece's biggest polling agencies.

STRATOS FANARAS, MANAGING DIRECTOR, METRON ANALYSIS POLLSTERS: We have 55 to 60 percent of people to which is a pro government

in this situation. But we have to say that this percent is not so high as immediately after the election.

[16:40:07] SEBASTIAN: Europe wants Greece to agree to reforms including pension cuts and VAT rises - something the new

government had promised not to do. Yet 85 percent of Greeks say they do want to stay in the Eurozone.

ANTONIS PAPAGANIDES, POLITICAL AND FINANCIAL ANALYST: We Greeks have to understand there is no free lunch if we want to

stay to the Eurozone. A tall cost, we have to accept both costs and all (AUDIO GAP).

SEBASTIAN: (AUDIO GAP) and status, the costs may be too high. They are considering (AUDIO GAP).

S. FLOROU: I don't know if this is a game of poker as they say with Greece and the Celtos (ph) in the European community, this

is too much for the people in all the cleven (ph) days.

SEBASTIAN: Claire Sebastian, CNN London.

(END VIDEOCLIP)

QUEST: (AUDIO GAP) -- tion in Greece. We are watching what's happening in Las Vegas where we're waiting for Mayweather

and Pacquiao speak. Their first press conference - their last press conference before they meet each other in the ring on Saturday. "Quest

Means Business."

(COMMERCIAL BREAK)

QUEST: A "Business Traveller" update with a difference. Floyd Mayweather and Manny Pacquiao aren't the only ones that

are going to be doing battle in Las Vegas. Let's go to the press conference where they're about to speak.

FREDDIE ROACH, TRAINER, MANNY PACQUIAO: This is some years where we have a good team, we've put together a great strategy

and they're waiting for the biggest fight of our life. This is big. This has never been - and - I've never seen anything like this in my life. So

I'd like to wish the best of luck, Manny. Best of luck and best man will win. Thank you.

BOB ARUM, PROMOTER, MANNY PACQUIAO: (AUDIO GAP): -- duce Manny, I would be remiss not to say I want to thank on behalf of

the Pacquiao team Top Rank the people at the Mandalay Bay. They have demonstrated tremendous hospitality to us, they've opened their arms to

Manny for this fight as they've done in previous fights.

It's a great, great place for Manny to have his camp to stay at the Mandalay Bay. I want to thank the COO and president

Chuck Bowling for being such a gracious host. And I want everybody to know how comfortable we are at the Mandalay Bay.

I mean that, I mean that. You know, Mandalay Bay is not like it's an outside hotel. It's part of the MGM, so it's - MGM

should take -

[16:45:02] QUEST VOICEOVER: Now we have some of the internal politics of which hotel gets mentioned, who gets praised, who

doesn't get praised. Bob Arum is a real aficionado at this. Now he's going to introduce his own fighter. Let's have a listen as he introduces

Manny.

ARUM: -- as you know. But when he says that this event is not about promoters, it's not about networks, it's about the two

fighters, that is absolutely the case.

(AUDIO GAP 05:37.7 - 05:46.7) - on the two men and the character of the two men. Over the years, they've gotten to know these

two great fighters and that has accounted for the tremendous response that we're getting - not only in the United States but all over the world.

The pay-per-view in the United Kingdom, in Germany is going to be off the charts as well as it will be here. And that's not

because of me certainly and it's not because of Stephen Espinoza or Ken Hershman, Velez Munvez (ph) or Richard Plepler, it's because of Floyd

Mayweather and Manny Pacquiao.

Manny Pacquiao means so much to people around the world. We know what he means to the Filipino people, whether they live in

the United States or in the Mideast or in Hong Kong and Macau and in the Philippines. He is the national pride.

He represents this proud people in a way that is so exemplary that sometimes Manny catches me talking about the Philippines and

the Filipino people and he says that he'll talk to his people in Congress and maybe get me citizenship.

But they are a wonderful people and Manny is a wonderful person. But look at the notoriety he has all over the world.

There was an incident that I was reading last night about nine people who were arrested in Indonesia for drug trafficking - eight men and one women -

woman. And the woman was a Filipina.

And they were all sentenced to be executed. Manny wrote a letter to the president of the Philippines - I mean the president

of Indonesia explaining that he was going to fight on May 2nd and he appealed to the president of Indonesia to spare this woman's life.

Yesterday eight of the drug traffickers were executed but the woman's life was spared. That's the type of influence

this man has all over the world. Everybody in Nevada knows that when Senator Reid was running for reelection in his last campaign, he was

trailing in the polls when the week leading up to the election he called me and asked if Manny could - was - training in L.A., could come in to support

him.

Manny appeared at a rally -

QUEST VOICEOVER: Having just listening to what Bob Arum was saying, I think we have to just say that the decision by the

Indonesian president to delay the execution of the Philippine female also had something to do with the fact that the Filipino president telephoned

the two presidents and they had - there was a conversation between them.

And perhaps not take anything away from Mr. Pacquiao's decision to become involved, in all fairness to the situation I

think we need to make it clear that there was this conversation between President Aquino and President Joko on in the Indonesia.

We're still waiting. We're hearing an enormous amount about how good Pacquiao is from Mr. Arum, but we are actually

waiting to hear from the man himself And we've still got to hear of course from the promoter and all the sponsors from the Mayweather side.

[16:50:12] Don Riddell's view is that a lot of what we're seeing at the moment is designed not just to psych each other, but

it's also to boost the already extraordinary pay-per-view numbers that we're seeing.

Bob Arum is determined to milk this in many ways for all it's worth. Let's listen in and hopefully we will hear from Manny

Pacquiao before too much longer.

ARUM: The welterweight champion of the world, Manny Pac-Man Pacquiao.

(APPLAUSE)

MANNY PACQUIAO, WBO WELTERWEIGHT CHAMPION: Good afternoon everybody. First I would like to thank God for giving us a

wonderful day - a beautiful day for us. And I want to thank you to all the sponsors, the promoter, Floyd Mayweather Promotion, (Saffron Promotion)

(AUDIO GAP) - (inaudible) they're helping a lot for this fight.

And I want to thank the facilitator that HBO for helping me since when I fought here in America, I always remember that my

first fight in America here at MGM against (Lelo Hanololiduaba), that was 2001 - June 23, 2001 (underguard) with (Scubbli Dawooya and Castilila

Leho). And that was a long time ago and since then it's (BRR) helping a lot to my career.

And thank you to all the media and fans, the present media being there always. You know, every fight I had - promoting

the fight, letting the people know that it's going to be a good fight. And all our success and achievements in boxing is, you know, not only for us

alone but including you guys you are part of big success. (AUDIO GAP). Thank you.

I'd like to invite everyone to witness this Saturday a good fight between Mayweather and Pacquiao. It's going to be a

good fight and there's a lot of question in your minds that only God can answer us on Saturday. And, you know, I just want to let you know that

everything that I have accomplished, it's God who gave me the strength.

You know, I just want to be an example and inspiration to everybody how my life before I became a boxer. I used sleep

in the street, you know, starving, hungry. And now I can't imagine that the Lord raised me in this position and He blessed me this blessings that I

cannot imagine that the boy that don't have food or sleep - and sleeping in the street - that He raise me this level of life. And that's I want to

share to everyone.

And this fight on Saturday, what our goals is to give the fans enjoyment and satisfaction of our performance and entertain

you guys that you'll be happy on Saturday. Both of us - Floyd and I - we work hard. We've been working (AUDIO GAP).

You know, I'm hoping that, you know, nothing personal, but we're just doing our job, we're doing our best on Saturday.

You know, I believe that he's going to do his best on Saturday and I'm going to do my best on Saturday to put our name in boxing history.

But the most important thing is I'm hoping that after the fight, we have - we can have - our conversation with Floyd, you

know, sharing my faith about God, you know. (Inaudible), you know, sharing the faith about God how we believe (AUDIO GAP) especially those children

our looking for (AUDIO GAP), you know? Supporting.

So thank you. I hope this fight is going to be not only (inaudible) people but to give an inspiration to all the people around

the world and that there is God - you know - there is a God that took and raised someone from nothing into something. It's - Jesus is the name of

the Lord. Ladies and gentlemen, thank you so much. God bless. (AUDIO GAP).

[16:55:31] LEONARD ELLERBE, CEO, MAYWEATHER PROMOTIONS: This next man to the podium - he doesn't need an introduction.

He's 11-time world champion in five different weight classes. He's originally from Grand Rapids, Michigan. He fights out of Las Vegas,

Nevada. He's a current WBC (AUDIO GAP) fighter of the year awards over the past seven years, one of which was in 2013.

Over the course of his career, he's been the Boxing Writers' Association of America champion. "The Ring" magazine, BET and

Nevada Boxing Hall of Fame have all honored him as fighter of the year.

He's been named the world highest-paid athlete by "Forbes" magazine, "ESPN The Magazine," "Sports Illustrated," which is

truly a testament to his incredible popularity around the world. On May 2nd, he faces a great challenge in Manny Pacquiao. This is the fight that

the world has been waiting to see.

So (AUDIO GAP) it gives me great pride to introduce (AUDIO GAP) -

(APPLAUSE)

FLOYD MAYWEATHER, WBC WELTERWEIGHT CHAMPION: First off, you know, I want to thank God because without God all this wouldn't be

possible. I want to thank different media outlets - different media outlets from around the world (AUDIO GAP).

Training camp has went remarkable. My Dad done a tremendous job working with my Uncle Roger Mayweather. We had a great

chemistry throughout training camp and the rest of my team. I want to thank all the sponsors that's covering this event. I want to thank the MGM

Grand, I want to thank Al Haymon, of course Mayweather Promotions, Talbring Promotions (ph).

Freddie Roach, you guys done a tremendous job and our team done a tremendous job putting this event together. You know, to

all the Filipino fans that have supported Manny Pacquiao, you know, thus far, you know, I want to thank you guys. From the fans around the world

that's been behind me for the last 19 years, I really want to say thank you.

You know, it's time to fight now. You know, you guys came out here to see excitement, you guys came out here to see a great

event. And I think that's what both competitors bring to the table - excitement. The biggest fight in boxing history and I'm a part of it, so

that's a great thing, you know.

I'm just truly, truly blessed to be where I'm at. I feel good, I feel strong and I'll see you guys Saturday. Thank you.

(APPLAUSE)

ELLERBE: Before we pose the fighters, I'd like to acknowledge none other than Floyd's father who's a tremendous, tremendous

trainer. He oftentimes he's overlooked. He's a great trainer. Floyd.

(APPLAUSE)

QUEST: So now the fighters will be - they continue to have the (inaudible). We're going to see them posing any second now -

we're waiting for that picture.

Don Riddell is with me and will be continuing looking to see exactly what's been happening. The pose - this is the pose.

I'm watching closely to see how this is progressing. A lot of religious talk from Pacquiao and a lot of thanks from Mayweather.

[17:00:03] Don Riddell takes over our coverage. The world's watching. This is CNN with the (inaudible).

END