on it. it's going to rock. >> instead of rock, the stock fell flat today. many say that is because it's trading at a price more than 100 times it's earnings. >> you have to see them increase revenue stream. there is companies growing like crazy. >> sarah didn't buy it. her daughter did. >> i think the was because of living in silicon valley. it -- a lot of hype. >> the company raised more than $18 billion and there is disappointment, many are relieved i'm glad it didn't stop today. i think we set the bar that much higher to justify the value. >> the value does signal a milestone for silicon valley shining a light on menlo park. >> now, whenever you hear facebook you hear headquarters here. that is a great thing for the

park and san mateo county. >> some wait to see how the social media giant plans to build its model others couldn't be more thrilled to part of the ipo. >> i'm in the trying to be a mill yain yair. i own some stock of face wook. -- book. it's something to brag about. >> it is today. if we see 10 shares only made $2.30 today he's looking to the future, coming up at 6:00 we'll take a look at where many say facebook needs to grow in that future. >> bono is he key denied reports he's the world's richest rocker saying he's not in the kbrinl yair league with paul mccartney. his firm owns just over 2% of facebook with a balance of $1.4 billion. he says most is controlled by institutional clients.

>> rock stars and investors are not the only beneficiaries. state of california had a good day as well. there is where the investment stock helped the state budget. >> the state budget stands to gain a lot it will not save the entire deficit. >> this is video from facebook. mark zuckerberg ran the opening bell. many became instant millionaires. because most of them live in california. the budget will get a boost. california treats capitol gains like wages so it will be taxed at 9.3%. the governor believes that will bring in $1.5 billion yu tloou june, 20130 -- 2013. it close hider on day one of trading. the most immediate benefit will be from zuckerberg

himself filing with sec. >> there is based on current tax rate, exercise of options will generate $195 billion in revenue for the state of california from one individual alone. >> the budget expected to get a bigger wind fall in restrictions empire on facebook employees and they can begin selling stock. and a report reveals numbers are off and it's hard to sell tel what workers will do, and when. >> we deent know whether they delayed sales and have other strategies so that is just another one. >> facebook workers could see taxes jump another 3% adding another $400 million to california treasury. there is a wind fall when

google went public in 2004. leading to kbrinls of taxes over three years this, sounds great, that not enough to lose the deficit and you saw thought the tax bill was high his federal bill expected to be worth $700 million. live in sacramento abc 7 news. >> thank you very much. you'll have plenty left overs. and there is more coming up at 5:30. and what will employees spend their millions on? answers that may surprise su coming up right after this newscast at 5:30. >> and then, coming up on abc 7 news at 6:00 there is a

gathering of entrepreneurs and how they're taking inspiration from the instant mill yain yair autos something a hit and run suspect left at the scene of a deadly bicycle accident. police say attorney spencer freeman smith left the scene of the crime tuesday night. and there is wayne freedman to explain. >> they charged him with homicide in leaving the scene of an accident. all day yesterday, police were outside this house in san ramone, waiting for them. this is not normal for police to be staking out the house in san ramone. >> waiting all day, all night. >> and does the neighbor think it was unusual to not see the black mercedes-benz out front. >> wondering why he wasn't

driving his car anymore. >> police say it began with a hit run accident. they found a 60-year-old visiting national on the soldier to remains of a mercedes-benz sedan. police used serial numbers to identify it. and starting price about $19,000. >> there is a listing of everyone who bought a 2012 model. from maenz mercedes-benz. >> the attorney was first on their list because he lives just up the road and smith's web site talks about seven figure legal victories. he's a good family man. >> he's a nice guy. i don't know if that is his wife, that is his wife, there are two little kids over there. they're so quiet. holidays they have parties but they're quiet people. i don't believe that that man

ran over someone and kept going. and that person is dead. that is horrible. and place called mr. smith who met them at the house with his attorney. >> once serving a search warrant we found the vehicle inside of the garage. >> were there parts missing on the car? >> it was consistent and missing part we'd found at the scene. and it had extensive front end damage. to the bumper and the windshield. >> mr. smith is already posted $60,000 bail. police want to know where he was before he allegedly hit this bicyclist. among questions, was he possibly drink something in san ramone, wayne freedman abc 7 news. >> thank you very much. and in berkeley now new details about a deadly crash killing a woman in this mosh

morning. police say three people in the cadillac that crashed into a tree are berkeley residents. it happened on california street and family man driving the vehicle still in the hospital there. is no other car involved. the cause of the crash is under investigation. and a fremont police are advising drivers to avoid kato road because of a deadly accident involving a cement truck and big rig. this is about 8:30 this morning. police say it's going to stay closed until they finish their investigation. >> police want to find a person left white powder and a threatening note at a nail salon in willow glenn. an employee found it with a liquid in clear bottles at the salon's front and back doors this morning. that note appears to have been written in vietnamese and mentioned plochlsives.

officers closed lincoln avenue. the hazardous materials team tested what is left outside nail spa by tammy. police told merchants to stay inside. >> he said that we don't know if this is baby powder or anthrax. or anthrax? >> i closed the door. >> the scare for students to shelter m n.place for two hours. >> concord sent a letter to local sports leagues warning them thieves are targeting cars. one home was burglarized after thieves stole keys from a car. he's suggesting they ask to patrol where events under progress. >> officials in santa clara county moving forward with a plan to remove some coffins and remains discovered under a hospital parking lot. today a judge granted permission to unearth 100 graves in the hope documents

buried with bodies will help them locate family members. crews discovered a thousand graves during construction and the judge's order allows for removeal of those located in the path of the project. >> and coming up the state where gay couples aren't allowed to marry but they can now divorce. >> what you don't know about the imported shrimp you eat that could hurt you. >> i'm sandhya patel. warmer today, i'll let you know if temperatures continue to inch up for weekend plans. the forecast is coming up. >> thank you. and bill cause by goes back to school with a message of inspiration for graduates. abc 7 news continues in one minute.

>> closed captioning brought to you by mancini sleepworld.

a police dog is expected to survive being shot in the face. that began this morning after 10:00 in the land end area of sacramento. nearby schools went on lock down. the car theft turned into a pursuit then an officer-involved shooting. >> a short foot pursuit. and fearing for the safety of himself the handler fired rounds at the suspect. >> the suspect died at the scene after hours of waiting parents were given go ahead to pick up their kids. the dog is in critical but stable condition. >> same-sex couples can not marry in maryland but can divorce there now there. is a rule that they can untie the knot in maryland. by the way same-sex marriages

and divorces have become legal there january 1. >> encouraging news on the stock market. unemployment fell in california and two thirds of states last month. evidence modest growth is boosting hiring. california's jobless rate dipped to 10.9% in april. down from 11% in particular. california's rate was 11.8% a year ago. but the state still has the third highest rate in the country behind nevada and rhode island. >> there is a server problem caused wait times to run longer than normal today at dmv offices. computers stopped or started to run slower than normal. it left services at a stand still. some folks left and others decided to wait it out. >> that is about. >> there are people calling out appointment times.

>> this turns out one server in sacramento went out affecting 169 offices across california. and there is a a spokesman says it was not related to outages last year when new applications were put on the service. >> 10,000 pounds of turkey burgers made in turlock being recalled, they contain soy a known allergy. it's not listed on the label. it invoflz 10-pound cases. this is ready to cook boneless mediterranean style turkeyburgers. and that is burgers sold in six western states. there are shocking new details about the dangers of store-bought shrimp. 90% of shrimp sold in grocery

stores is raised overseas many grow in crowded conditions that promote disease. chemicals are used to keep the shrimp alive and growing. a report found 10% of the imported shrimp contained illegal cancer causing antibiotics that are banned in the united states. coming up tonight on world news at 5:30 what the fda is doing about this problem and what you need to look out for next time you buy shrimp. >> one action group called save california is running a media campaign against harvey mic day. >> your boys and girls being targeted for immoral indoctrination at school on harvey mic day. >> save california is urging parents to keep kids home on tuesday. many school districts dedicate some of the day to gay rights pioneer. but safe california says students should not be forced to participate without written consent. it's the second year california held a day honoring

harvey mic. -- milk. >> and the fastest growing population in the count story made up of asians and pacific islanders. there is some bay area trailblazers talking about the issues facing this growing community. chef lee talks about food and science. >> there are opportunities as chefs now that chefs from a previous generation didn't have. and it's to interact and work to fine tune things. >> and this sunday at 10:00 a.m. there is a special edition of abc 7 "beyond the headlines". >> university of san francisco graduates received sage advice perfect one and only bill cause by. he received a honorary doctorate. and he later addressed graduates, urging them to trust their abilities and not be overwhelmed in the face of

add ver ti. >> we don't want to hear you say i was nervous. you have this education. you have these expectations. there are parents waiting for to you move out. >> by the way the doctorate recognized his humor in full evidence there, compassion and commitment to service during his work educating and inspiring children and adults. he does that so well all of the time. >> best timing. >> he does. >> always comedy. >> and timing is right for a great weekend. don't you think? >> sandhya patel is here. sit warming snup. >> it was warmer today. we're going continue throughout the weekend. there is so much going on this weekend. asian american heritage month. celebrations saturday. san jose, on sunday, and here

is a view from our sutro camera. looking towards marin headlands skies nice, sunny. there is another live picture from our camera. looking across the bay back towards san francisco, nice view now and there is a small craft advisory until 9:00 tonight due to choppy waters. not as windy as yesterday. here is what contributed to warm up. there is temperatures ranging from mid-50s to low 80s inland today. five-15 degrees warmer than yesterday. here are the readings. 58 degrees in san francisco. it's 54 in half moon bay. there are warmer days this weekend. windy cooler weather this

week. we're concern btd weekend. for the weekend out with the trough in, with the ridge. there are mild days for weekend. if you're taking part in races this weekend i want to show you a forecast. there is skies should be clear. we're looking at 57 degrees, sunshine, and at noon time finish line along the great highway. 60 degree temperatures, perfect weather for walking and running. not going to be too hot which is good. winds will be light. pulling out here there is something else happening. there is a partial solar eclipse. that is great viewing. the partially eclipse, peaking at 6:33 p.m. we're expecting it to be a spectacular viewing conditions because of the clear skies.

remember, you owe do not want to look directly into the sun. you need to have special classes -- glasses or look down on the ground. find a shady area with trees overhead. there is mid 40s to mid-50s so a cool start like this morning. then, tomorrow afternoon there is a beautiful sunny day and there is napa, 79 degrees, 72 in oakland. fairfield concord is 83 and there are 79 degrees in san jose and around the bay. there is a lovely day as well. 68 salinas. there is graduations going on, too. there is perfect weather. low 60s to mid-80s saturday.

there is that range sunday, cooler monday. you notice around the middle of the week wednesday, thursday, turning windy. cooler thursday, friday. mid-50s to low 70s. don't want to scare you or anything but computer models perhaps suggesting could be some rain drops maybe, next following saturday. >> really? >> so far out. keep an eye on it. >> yes. yes. >> everybody wants to hang out on the weekend. >> this will be a following saturday. >> thank you very much. >> coming up next don't go away. finney's friday free stuff taking you to wine country. >> silicon valley goes old school. at 6:00 there is a start upturning board games into a

we have made it through another week. you deserve a reward. right? >> we have just the guy. there is some, too. there is this safe skies lock. you can lock your luggage with it. and tsa has a master lock to unlock them. and so they can open and

search if they want to. here is the deal. they're not supposed to ever cut this lock off. and should they do that by an estate, the company will send another for free. >> and there is up to the wine country here. this looks good, too. flip into photo aesthetics. there is a $45 gift certificate good for 30 minute spaishl. you can get waxing done and part of a massage. you can put it on anything you want. they're located up in napa. there is a sign up. how do we get this. >> there is any time, log on to abc 7 news.com. there two items to get to those go to michael finney consumer blog. >> there two additional things

beyond that? >> beyond that. >> thank you. good stuff. >> and we'll be right back. ab

tonight at 6:00 the facebook ipo. how creation of hundreds of

instant millionaires could trigger a wave of new innovation. and a tip prompting an fbi investigation of the police department of the oakland unified school district z a remarkable bay area woman helped a quarter million college students with their home work. its coming up at 6:00. now back to dan and cheryl. >> and that is going to do it for us. >> from all of us here, we appreciate your time. hope to see you again in a half hour at 6:00. >> have a great weekend.