i'm duarte geraldino. mitt romney's business experience is taking center stage in campaign 2012. at issue is whether romney was in control of the private equity firm he ran, bain capital, when it sent jobs overseas. he says no. but bain documents appear to indicate otherwise. meanwhile, president obama reflected on his first two years in office. tara mergener is in washington. good morning, tara. >> good morning, duarte. that's right. president obama says he would do a better job of inspiring if he's re-elected and this as the battle between the campaigns rages on now with accusations of lying. president obama hits the road today for campaign events in the battleground state of virginia. before heading out, he took time for an interview with cbs' charlie rose where he admitted to some mistakes. >> well, you know, he's been juggling and managing a lot of stuff. where is the story that tells us where he's going?

i think that was a legitimate criticism. >> the president says it spared a question everything about a presidential candidate and the obama campaign has some questions about mitt romney's time at bain capital. a report from the boston globe says romney filed paperwork with the government where he claimed to be the sole owner and ceo of the private equity firm as late as 2002. the romney campaign says he had no input on investments or management of the company after he left to take charge of the winter olympics in 1999. at the heart of the issue, who was in charge of bain during the years from 1999 until 2001? that was the time period when bain ran companies that went bankrupt and invested in others that shipped jobs overseas. >> does virginia really want an outsourcer in chief in the white house? . >> the obama campaign ad has been running for weeks hammering romney over the outsourcing issue. >> it's false and misleading. >> the romney campaign is hitting back with its own ads.

>> the obama outsourcing attacks misleading, unfair and untrue. >> the obama campaign. barack obama, and i approve this message. >> stands by its claim. now, bain capital released a statement saying that mitt romney was on the paperwork until 2002 as the company transitioned from his ownership to new partners, but that he did not have any role in managing the company. meantime, romney did get a boost yesterday from former vice president dick cheney who helped raise more than $4 million at events in wyoming. duarte? tara mergener in washington. thanks. you can see more of charlie rose's interview with the president and mrs. obama later on "cbs this morning" and this weekend on sunday morning. a washington, d.c. police officer is under investigation for allegedly threatening first lady michelle obama. the washington post reports the officer is accused of telling fellow officers he would shoot mrs. obama and used his phone to show the gun he would use.

the officer worked as a motorcycle escort for the white house. he's been placed on administrative duty. callus and shocking. that's how investigators describe the behavior of penn state officials in their handling of the jerry sandusky scandal. on thursday, they released a report detailing how top leaders at the school concealed child sex abuse allegations against the former assistant football coach in order to protect the image of the school and its revered football team. the report was the culmination of an eight-month investigation spearheaded by former fbi director louis freeh and it was scathing. >> our most saddening and sobering finding is the total disregard for the safety and welfare of sandusky's child victims by the most senior leaders at penn state. >> the report charged that late football coach joe paterno, former president graham spanier, retired senior vice president, gary schultz and ex-athletic director, tim curley repeatedly concealed critical facts related

to the child abuse from the authorities. the university's board of trustees, the penn state community and the public at large. >> the evidence clearly shows in our view, an active agreement to conceal. >> the report cites an e-mail sent by curley in the weeks after mike mcqueary said he had witnessed sandusky sexually abusing a boy in a campus shower. according to investigators, curley, spanier and schultz wanted to report sandusky to child welfare authorities but after speaking to paterno, curley wrote in an e-mail that he would prefer to keep the matter private and speak with sandusky. that same night, spanier responded with an e-mail reading, "the approach you outline is humane and a reasonable way to proceed." >> although concern to treat the child abuser humanely was stated, no such sentiments were expressed by them to sandusky's victims.

>> paterno's family said the coach should have done more but that he was not part of a cover-up. >> joe did not interfere with any investigations. joe in no way, shape or form ever suspected that jerry sandusky was a child predator. >> but the report is likely to further tarnish paterno's once sterling legacy. the penn state board of trustees is moving cautiously in how the coach's career will be honored in the future. >> the clarity that's come out of the report which showed that 61 years of excellent service that joe gave to the university is now marred. >> nike reacted to the findings thursday by removing joe paterno's name from a child care building on its oregon headquarters. the report could have consequences in the criminal case against schultz and curley. they're accused of lying to a grand jury. jerry sandusky is still awaiting sentencing after being convicted on 45 counts of child sex abuse. overseas, it's reported the syrian government is moving part of its chemical weapons arsenal. the wall street journal quotes unidentified u.s. officials. it's unclear if the chemicals are being moved to protect them

or if the assad government intends to use them. against opposition forces. opposition activists say more than 100 people, mostly civilians were killed in central syria yesterday. the revolutionary leadership council says syrian forces bombed one small village followed by an attack by the pro assad militia men. the government blames armed terrorist groups. a delta airlines jet bound for madrid returned to kennedy airport last night after strange wiring was found in the bathroom. but no explosives were found on the plane. there were 206 passengers on board delta flight 126. one reported the suspicious wiring. the jet safely landed at kennedy more than an hour after it took off and was met by the bomb squad and fbi. two passengers were questioned and released. on cbs "moneywatch," a big day for jpmorgan chase and yahoo confirms a hacking attack. ashley morrison is here in new york with that and more. good morning, ashley. >> good morning, duarte.

he will report on the gdp in china lifted overseas markets this morning. the nikkei gained a fraction snapping a six-day losing streak, while hong kong's hang seng added a quarter percent. concerns over earnings sent wall street lower. for a sixth straight day. the dow fell 31 points while the nasdaq was down 21. today jpmorgan chase ceo jamie dimon will deliver the quarterly earnings to investors. it will be the first earnings report for the bank since it announced a multibillion dollar trading loss. jpmorgan has lost about 15% of its market value since that announcement. a group of senators wants to see more investigations into whether some global banks tried to manipulate a key interest rate that affects mortgages, credit cards and student loans. last month, barclay's bank admitted they tried to rig the libor rate. barclay's ceo and chairman stepped down after a $453 million penalty was paid. law enforcement officials in

san bernardino, california, are investigating the possibility of criminal activity within the city government. this week, san bernardino became the second largest city in u.s. history to declare bankruptcy. the city attorney says that the council had been given falsified financial statements and has other evidence of financial mismanagement. and hackers have leaked about 450,000 yahoo users' e-mail addresses and passwords. the hacker group claimed responsibility and says it stole the information to give yahoo's security managers a wake-up call. yahoo says only 5% of the passwords were still valid. duarte? ashley morrison here in new york. thanks, ashley. coming up in the morning news, drought dilemma, scorching heat in t midwest is putting a strain on corn crops as farmers wait for rain. this is the "cbs morning news." "moneywatch" sponsored by vagisil. count on it. "moneywatch" sponsored by vaj sill. count on it. ♪

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while extreme weather events like floods, wildfires and tornadoes have drawn headlines this year, a major drought has been quietly building in the midwest. it's already affecting food prices. corn is up 11% from a year ago. dean reynolds has more from the dry fields of illinois. >> bob bleuer's thousand acre farm is dying of thirst. >> this looks really kind of -- >> puckering up pretty tight. >> disfigured. >> it's lack of water. he and his wife pat are fifth generation farmers growing mostly corn and soybeans. they haven't had a good rain for months in channahon, a native american word meaning where waters meet. this year the water never showed up. >> the corn looks like a pineapple plant. >> in a good year, they would harvest 200 bushels of corn an acre. this year, they'll be lucky to get five. where should these be now? i mean, height? >> really? >> as high as you can reach.

>> his soybeans are faring no better under the relentless sun. he could lose $150,000 this year. >> these beans have been sitting dormant this way in height for about a month. they should be way up here. >> so they just stopped growing? >> yes, sir. they stop growing until conditions improve. >> more than 30% of nine midwestern states are in an extreme or exceptional drought. the worst in a quarter century. the u.s. department of agriculture has cut its harvest projections by 12%. >> you can see all of your hard work gone for naught. >> drying up in front of you. >> this is our end harvest, i hate to get into the unemployment rolls. but we'll go to town and find a job and try to do something else to make ends meet. that's all you can do. >> do you ever think of getting out of this? >> sure. you think about it and then spring comes and we do it again. >> this part of the midwest seldom has a prolonged drought. so farmers like bob don't have

irrigation systems. that's a problem now because no significant rainfall is in the forecast here for at least another week. dean reynolds, cbs news, channahon, illinois. straight ahead, your friday morning weather and in sports, team usa shows how it's done in basketball warmup for the london olympics. sports, team usa shows how it's done in basketball warmup for the london olympics. to your kids' wet skin. neutrogena® wet skin kids. ordinary sunblock drips and whitens. neutrogena® wet skin cuts through water. forms a broad spectrum barrier for full strength sun protection. wet skin. neutrogena®. for full strength maybmaybe you can't.re; when you have migraines with fifteen or more headache days a month, you miss out on your life. you may have chronic migraine. go to mychronicmigraine.com to find a headache specialist. and don't live a maybe life.

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miami, thunderstorms, 90. chicago, partly sunny, 93. dallas, partly sunny, 94. los angeles, thunderstorms, 86 degrees. time now for a check of today's national forecast. much of the south will see thunderstorms throughout the day. strong storms with heavy rain and some hail are likely from southern texas to the carolinas. the northeast and midwest will be dry except for thunderstorms in the ohio valley. in the west, isolated thunderstorms could cause flash flooding from southeastern california to montana. and in sports, pre-olympics basketball in las vegas. team usa versus the dominican republic. the nba superstars dominated, including lebron james an alley oop on a pass from darrin williams. kevin durant's three-point jumper, part of his 24 of the night. carmelo anthony's jam in the third as the nba doubled the dominican score, 113-59.

they will lose blake griffin out of the olympics with injury. not all olympic competitors have two legs. some use four. for hundreds of years, for actually 100 years, the elegant horse and rider event called dressage has been part of the olympics. this year, even in london, the u.s. team can't escape entirely from politics at home. a horse linked to mitt romney and his wife will be in the mix. randall pinkston reports. >> jan ebeling used to be afraid of horses, but now the german-born rider and his horse, rafalca, are training for their first olympic games. they're one of four members of the usa dressage team. >> it's amazing. it's a dream come true. >> that dream became a reality, in part, because of ann romney, wife of republican presidential hopeful, mitt romney. she helped purchase the horse for ebeling about six years ago. >> i think she really appreciated me helping her with her riding, and i think she wanted to help me achieve my dream. >> there we go. >> an avid rider, mrs. romney started training with him after she was diagnosed with multiple

sclerosis. she credits riding with easing some of the symptoms of the disease. the romneys' involvement is putting the spotlight on dressage at this summer's games. but horse ballet has been part of the olympics for a hundred years. it's based on military training dating back to the ancient greeks. in competition, ebeling and rafalca rely on their trust of each other to precisely execute a series of choreographed movements. >> dressage is really all about balance, rhythm and relaxation. >> this pair trains about an hour a day. ebeling says his horse is ready. >> how old is she? she's 15, so she's peaking right now. >> at 53, he's ready. after all, ebeling says he's been training for this moment for decades. randall pinkston, cbs news, gladstone, new jersey. and when we return, caught on camera. a high-flying crash that's being used as a lesson for drivers who run red lights. run red lights.

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here's a look at today's forecast in some cities around the country. washington, d.c., partly sunny, 81. atlanta, thunderstorms, 86. st. louis, thunderstorms, 90. denver, partly sunny, 92. seattle, partly cloudy, 80. here's another look at the top stories this morning. mitt romney has said he was not in charge of the private equity firm bain capital after 1999 when bain invested in companies that shipped jobs overseas, but documents filed with the government by bain say otherwise. penn state officials, including football coach joe paterno covered up allegations of child abuse against former coach jerry sandusky. according to an investigation commissioned by the school. investigators describe the behavior as "callous and shocking." protesters clash with police in downtown los angeles.

police say one officer was injured and several people arrested after some protesters began throwing rocks and bottles. it's unclear what set off the trouble which involved 200 people taking part in downtown l.a.'s monthly art walk event. video released by a town of new jersey shows what can happen if you run a red light. police say this car was going about 60 miles an hour when it raced into the intersection last month. the driver of the car that flipped was booked for drunk driving. amazingly, though, neither he or anyone else was seriously hurt. las vegas police say they kill one of two chimpanzees nd running loose in a residential neighborhood. the body of the 150-pound male lay in the street half an hour after the animal escaped from a backyard enclosure yesterday. animal control officers arrived in time to tranquilize the second chimp and take her away. coming up after your local news on "cbs this morning," charlie rose's exclusive

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a very expensive rock has people tickled pink. a rare 8-carat pink diamond in australia was put on display in melbourne yesterday. it was unearthed last august at a mine in western australia. so what's it worth? officials say it's so rare, it's simply priceless. now to a much more different type of collector's item. comicon. the largest pop convention in the world officially kicked off in san diego. as always, the annual event features a mix of hollywood figures and diehard fans. teresa garcia is at comicon with the highlights. >> from spider man's back flips to this guy's break dancing. >> i am a made up imaginary ninja. >> thousands of tv, movie, comic

book and video game fans are getting their geek on at comicon 2012. the lines are long to get into the final twilight preview and panel discussion. >> we've been here since sunday morning at 8:00 a.m. and we're just waiting to get in there. >> this bat mobile display is getting lots of attention also. fans can get a close-up look at six different batmobiles date dating back to the 1966 tv series. this is the latest bat mobile to be featured in the dark knight rises. but this version is the first to be named something else. the tumbler. founded in 1970, comicon was originally all about comic books. now it's a four-day entertainment extravaganza. fans lined up to hop in front of a green screen for a picture with their favorite show time tv characters. others shackled up with the walking dead show's newest zombie characters. >> the chance to jump in with props and get your picture taken, it's kind of cool.

>> comic store owner spent two hours in a line to buy collectible toys. >> how much cash do you drop? >> easily, at hasbro alone, about $1500 every year. >> the common theme among all these fans is a passion for pop culture. at comicon in san diego, teresa garcia, cbs news. that looks like a good time. everyone has a dream wedding, but here in new york city a doggone wedding that set a record. two dogs got married last night in the luxury ceremony that broke the guinness book of world records for the most expensive pet wedding. it cost more than $158,000. that includes the cost of the costume wedding dress, orchestra and sushi spread. guests bought tickets to the wedding, which was really a fundraiser for the humane society. coming up after your local news on "cbs this morning," charlie rose's exclusive interview with the president and mrs. obama. plus, inside the mind of george zimmerman. the man who killed florida teen trayvon martin. we'll look at newly released interviews with his friends and

co-workers. actor bryan cranston from the hit tv show breaking bad, that's the "cbs morning news" for friday. thanks for watching. i'm duarte geraldino. thanks for watching. i'm duarte geraldino. have a great day. -- captions by vitac -- www.vitac.com -- captions by vitac -- www.vitac.com