tv CBS Morning News CBS May 15, 2012 4:00am-4:30am EDT
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president obama defemts his decision in front of a very partisan crowd. shareholders meeting. jpmorgan chase ceo jamie dimon faces off with investors angry over a $2 billion blunder. and dangerous wildfire. in arizona massive flames and choking smoke threatened a historic mining town, but residents refuse to leave. captioning funded by cbs good morning. thanks for joining us. we begin with politics and president obama's efforts to energize his pre-core voting
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blocks, women, young people, and gays and lesbians. in a fund-raiser hosted by rickey martin, he spoke about it. >> i want everybody treated fairly in this country. we have never gone wrong when we expanded rights and responsibilities to everybody. that doesn't weaken families. that strengthens families. it's the right thing to do. >> so far the president's support of same-sex marriage does not appear to be helping him in the polls. according to a new cbs news/norm times poll 58% say it has no effect on their vote, while 25% say they are less likely to vote for him. and republican mitt romney now has a three-point lead over the president in the race for the white house. in colorado republicans defeated a civil unions bill. governor john hickenlooper
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called a special session yesterday hoping to pass a law that would give same-sex couples rights similar to married couples but republican-controlled house committee voted down the measure. ron paul says he's done spending money on the race for the white house but he hasn't given up the fight. hi says he plans to continue to battle for delegates and carry a strong message to the gop in tampa. now to the $2 billion blunder. a top executive has stepped down. shares are falling and today the ceo is going to get an earful at the shareholders' meeting in florida. susan mcginnis is in washington with more on that. good morning, season. >> good morning, manuel. these are expected to keep on moublting. more executives are expected to be shown the door and now the president is out there talking about what he thinks needs to be done. jpmorgan chags ceo jamie dimon
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will face shareholders at the company's annual meeting today. they've seen the stocks drop 13% since last week's announcement that the company lost more than $2 billion in a derivative trading blunder but jpmorgan chase remains the largest profit bank with profits of over $19 billion last year. the massive trading error caught the attention of president obama. he talked about the need for financial regulation during a taping of "the view" airing today. >> they were making bets in these derivative markets. we don't know all the details yet. it's going be investigated. but this is why we passed wall street reform. >> congress passed wall street reform known as dodd/frank two years ago but not much has yet taken effect.
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georg jpmorgan has spent more than $21 million in trying to water it down. >> not only was he the golden boy of wall street, but he was leading a very effective charge to undo dodd/frank. >> while jp is big enough to handle the loss, it may not be the case for other banks. >> you can have a bank making same bets and we might have had to step in. >> congress has announced new hearings on financial regulation. now anna drew, the executive who's due to be fired will 1450e6sh million upon her departure. it could be reduced if she's found to have been guilty. in arizona several wildfires continue to burn out of control. hundreds of firefighters are battling the 1,300-acre base near the historic mining town of crown king. 350 residents have been ordered to evacuatie to evacuativacuate, but most ar
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leaving. one resident says she knows the people who may have accidentally started the fire. >> they feel horrible. they think it's all their fault, and it's not their fault. it was an accident and i hope they're listening to this right now because it's an accident. >> another wildfire in the tanto national forest has burned more than 3,000 acres and is still not contained. california governor jerry brown is proposed deep budget cuts to close a budget gap. he's calling for health care cuts that would affect the poor and elderly and he wants workers to take a 5% pay cut and he w t wants to postpone money to schools. >> oil prices dip and a word on unfriendly skies. it was a volatile day for stocks. concerns about the greek
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economic crisis sent stocks lower yesterday. the dow fell 125 points. the nasdaq gave back 31. oil prices are down as well. oil prices fell to $94 a barrel today in asia. it's a continuation of a two-week selloff that has dropped the price of crude to a five-month low. the pilots at united airlines have launched an ad campaign called the unfriendly skies. the pilots had been negotiates a new contract since december 2009. the pilots say they're neglecting safety by outsources flights to regional carrier. united says safety is its highest priority and the union p.r. campaign is another negotiating strategy. richal knew that the ceo was having a relationship with a female employee and did not tell an audit committee. and, manny, as facebook
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prepares for a public stock offering, half of them thing that it's a passing fad. more than 14 million americans log in at least once a week and half of them tell the abc pollsters they think the company is valued too high. either way, it's been fun. it is graduation season for millions of college students. while these should be happy times, they face a grim economic reality. half of recent college graduates cannot find full-time jobs. jim axelrod spoke with one of them. >> reporter: she got good grades and a degree two years ago. the only thing she didn't get, a full-time job. >> they said it was, you know, you get a degree and you'll get a job and you're going to be a step ahead of everybody and that really hasn't been the case.
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>> reporter: the 23-year-old wants to break into the fashion industry, so she's blogging as a paid intern at one website and working part-time at another. >> i've sent out hundreds of resumes, at least 300. forbes majored in english, but a recent study found that employers most likely to hire graduates with engineering, business, accounting, or computer science degrees. another study by rutgers university found more than a quarter of recent grads say their jobs have been work beg low the level of their education, the same percentage that have moved in with their par parents to save must-have. the median salary for recessionary gruts for their first job is $27,000, about $3,000 less than those who graduated before the recession began. forbes make $300 a week. forbes tells us she believes eventually the breaks will go her way and she'll do well, but
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in a rutgers study only 48% believe they'll do better financially than their parents. jim axelrod, cbs news, new york. coming up on the morning news, roger clemens under fire. a star witness in his perjury trial testified he gave the seven-time cy young award winner steroids. my doctor diagnosed it as fibromyalgia, thought to be the result of overactive nerves that cause chronic widespread pain. lyrica is believed to calm these nerves. i learned lyrica can provide significant relief from fibromyalgia pain. and for some people, it can work in as early as the first week of treatment. so now i can do more of the things that i enjoy. lyrica is not for everyone. lyrica may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior, or any swelling or affected breathing or skin, or changes in eyesight, including blurry vision
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the jury yesterday that using nearly a million dollars in contributions to conceal edwards' affair was not illegal. prosecutors said thomas's opinion was irrelevant and the judge agreed. now to a perjury trial. the baseball great roger clemens. he said he personally gave clemens several steroid injections. danielle nottingham has more. >> reporter: roger clemens left the u.s. district courthouse monday after hearing damaging testimony from his chief accuser. on the stand, former clemens trainer brian mcnamee said he injected the star pitcher eight times in 1998 while two were working for the toronto blue jays. mcnamee said clemens requested the shot and it was done in clems ens' hotel room. he said he received vitamin b
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shots and never used steroids. the government is trying him for perjury. mcnamee's testimony is key because he waffled on the stand a few weeks ago. mcnamee explained in detail the first injection, how everything was laid outen the table, the needle. gauze, alcohol, and steroids. he also testified he knew what he was doing was illegal. the defense is expected to cross-examine mcnamee tuesday. >> i think they'll get a lot of embarrassing and salacious details in front of the jury because he's desperate. >> reporter: they'll try to convince jurors that vials were tainted because of the way he stored them. the prosecution claims the items have tested positive for both steroids and clemo onsclemons'
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repercussions from the hazing death of a florida drum major now has a. the band program will be on hold. robert champion died in november after being severely beaten aboard a band bus. straight ahead, your tuesday morning weather. and in sports, nba playoff thunder. russell westbrook and kevin durant lead oklahoma city against the lakers. so i'm not about to always let my frequent bladder urges, or the worry my pipes might leak get in the way of my busy lifestyle. that's why i take care, with vesicare. once-daily vesicare can help control your bladder muscle and is proven to treat overactive bladder with symptoms of frequent urges and leaks day and night. if you have certain stomach or glaucoma problems, or trouble emptying your bladder, do not take vesicare. vesicare may cause allergic reactions that may be serious.
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here's a look add today's forecast in some cities around the country. new york, showers, 63. miami, thunderstorms, 86. chicago, partly sunny, and l.a. 74 degrees. it will be wet from new england to the carolinas with scattered thundershowers in georgia and florida. heavy thunderstorms will range across south texas with flood producing rain in the rio grande valley. thunderstorms will progress in the upper midwest as the day goes on. the west will be dry with near record heat continuing in the desert southwest. now to sports. and nba second playoff action. kechbt durant set the tone for thunder in the first quarter, driving for a slam dunk. durant had 25 points and russell
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westbrook hat 27 including an alley-oop pass from durant for a third-quarter slam. in boston he slammed past to tie it with the celtics. the phillies' even tur hit an acrobatic reverse layup to put the 76ers back in front. they hung on to win 82-81 to tie the second round series to game apiece. now to baseball. cubs at cardinals. it was tied at 4-4 in the eighth when alfonso soriano smacked a r bii to the left. jon lester put on a show for the crowd against the mariners throwing his second complete game of the season. he struck out alex to end the game. a 6-1 red sox victory, their fourth straight at home. and finally to the stanley cup playoffs.
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devils and rangers. in the third period dan girardi scored giving the rangers all they ready need. henrik lundqvist stopped 21 shorts. 3-1 in game one of their second round seers. >> when we return, another look at this morning's top stories. and attention, walmart shoppers. a wayward rattlesnake proves it's got some bite. kiwi. soy milk. impulse buy. gift horse. king crab. rhubarb pie. lettuce shower. made by bees. toucan sam. that's not cheese. grass fed. curry. gingersnaps. soup can tower. 5% cash back. right now, get 5% cash back at grocery stores. it pays to discover. [ female announcer ] improve the health of your skin
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president obama defended his view on same-sex marriage saying it stremgtens family. and the ceo of jpmorgan chase, jamie dimon, will face angry shareholders in florida. a scary school bus accident in southern illinois injured at least 11 sixth graders and the bus driver, but looking at the wrecked bus, it's amazing that none of the 34 people onboard was killed when it collided with a tractor trailer rig yesterday. police in northern mississippi are warning people to take precautions after two people died in highway shootings in the past week. the similar shootings happened three days apart. both vehicles pulled to the side of the road leading investigators to believe that the shooter is posing as a police officer. the tropical storm aletta is
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60 miles after mexico's koeftd and is not currently a threat to land. a washington state man is recovering after a run-in with a rattlesnake at a wall mark store. 47-year-old michael cray bent down to pick up what he thought was a stick in the store and it turned out to be a rattler. >> i reached down grab it and it got me. it stayed on. it curled up. i seen kids out there. journeyed all over the snake. stomped it dead. >> other shoppers raced him to the hospital where he was given anti-ven anti-venom. the most popular girls' names last year were sophia, isabella and emma. for boys, jacob was tops for the 13th year in a row. mason, the name of kourtney kardashian's son jumped ten spots to number two and william
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apparently, and dray ya. i'm -- andrea. i'm mike hydeck. good morning, monika santami. howard bernstein, give andrea some good news. >> i'm going to tell you, we're going to clear out the second half of the week but don't be surprised by wednesday, thursday mold spores are quite high. let's talk about today, though, because we have more rain. in fact right now moderate to heavy rain going on across parts of the region. you see some of that haze out there. cloudy with light rain at reagan national. 68 by 9:00. we'll see a little sun at times. that will help bubble up scattered showers and storms. some of those could be on the hefty side. there's a lot of low level moisture so we could have good downpours with highs between 75 and 80. out toward i-81, shenandoah valley much quieter to the west. right on top of us just west of 95, you can see the heavy rains coming up toward the metro here on the west side of the metro, eastern loudoun, western fairfax, coming through much of
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prince william, southern fauquier coming out of stafford and fred rigsburg to mount airy -- fredricksburg to mount airy. there may be a flash of lightning. i saw one driving in a few hours ago. low 60s here in the shenandoah valley to the mid-60s in town. later this afternoon with a mix of clouds and sunshine and scattered showers and storms, we'll see high upper 70s. maybe 80 toward man fan sas. -- manassas. monika is back with time saver traffic. good morning. this is one of those mornings where i think you might want to give yourself a few extra minutes to head out the door. obviously at this time we don't have any volume but the rain was coming down heavy at least for my commute this morning and slowed me down a few minutes. down south 95 northbound no problems to report dale city into woodbridge and springfield. we're going to take a live look as you're planning to head into springfield, looking fine and again no big volume or delay right now to worry about on to
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395. let's go back to our maps and this time over to the north side of town. all of those major corridors it 270 and i-95 are fine. we'll go to our mdot cameras on 270 where there are no problems to the point where the lanes divide but the roads are wet. we'll go over to 66 at 4:39. 4:28. we're following a developing story this morning. a police-involved shooting in southeast d.c. a man was shot and killed in a shootout with police around 10:45 last night in the 4200 block of 6th street. officers were responding to a previous shooting in that area at the time. they approached a man matching the description of the suspect in shooting number one and we're told then there was an exchange of gunfire which left the man unconscious. he was later pronounced dead. according to "the washington post," the police officer was grazed by a bullet in this. jpmorgan chase executives will answer shareholders' questions at its annual meeting
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today. >> some lawmakers on capitol hill are using the bank's $2 billion loss to push for tighter banking regulations. susan mcginnis with the story. >> reporter: jpmorgan chase's c.e.o. jamie dimon will face shareholders at the company's annual meeting today. they've seen the stocks drop 13% since last week's announcement that the company lost more than $2 billion in a derivative trading blunder. but jpmorgan remains the nation's largest bank with profits of $19 billion last year. >> we have a trillion dollar balance sheet within jpmorgan. $2 billion is really not anything for them to talk about. >> reporter: the massive trading error caught the attention of president obama. he talked about the need for financial regulation during a taping of "the view" airing today. >> they were making bets in the derivative markets. we don't know all the details yet. it will be investigated. but this is why we passed
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