you want to look at those offers carefully. if you have one credit card with a very high interest rate, it may very well make sense for you to transfer that to a lower rate card. you have to be aware that some credit issuers are charging higher fees now for the balance transfers. >> that's right. >> you want to be sure and do the math. that can take the bite out of it. >> right. i love that. okay. we had credit card reform. remember that, you know, the president signed off on that way back at the end of may and i thought life was going to get better but, clearly, the numbers are getting worse. it's obvious people are making mistakes with these credit cards. what are the biggest ones? >> well, the biggest ones are failing to stay current on your payments. i mean, that's when your interest rates can really go up and you can start to see extra fees. we've seen some credit card companies that are lowering your available credit balance so that when you start -- you may go over the limit without realizing it. >> right. and that's alwa

i think you have to look at the language. and i think it's absolutely correct there is just an incredible lack of details right now, so it's very, very difficult to make fundamental judgments. but i do think it's something investors need to watch for. >> we'll leave it there. tony fratto, great to have you on the program. michael ysshikami, we appreciate your time. up next an exclusive interview with the ceo of constellation brands. he'll explain why some big changes the company is going to be announcing are going to impact the efficiency and profitability of constellation brands. stay with us. >> announcer: here's a look at some of today's byrnes and losers. >>> welcome back. constellation brands is making a big change to its distribution network. the liquor company is consolidating, moving from more than 15 distributors in the united states to just four. that will exclusively sell constellation brands products. for more on the announcement and the latest on the company i'm joined right now in a cnbc exclusive by the presiden

we're also going to have to look at aid to local government. we're also going to have to look at employee compensation. >> the governor needs to sign up to $750 million in spending reductions by labor day, and he wants your input. he is urging members of the public to comment on the budget situation on a new website to find it. just head to abc2news.com, and look under links. >>> meanwhile, the state is cutting more than $40 million from the university of maryland system. chancellor william kerwin is talking with the president of the system's campuses to decide what to do. the board of regents vote today to allocate cuts among the institutions. kerwin will report back on how the cuts will be allocated before they're due to the state july 31st. >>> yesterday we told you virginia was closing 18 of 42 rest stops because of a lack of money. now comes word that maryland will close two welcome centers because of budget cuts. sidling hill exhibit center west of hancock is now set to close august 15th. it opened in 1991, and has a four-level geological

i'm telling, he was beginning to look like the nose was normal again. total collapse of the cartilage. >> larry: in the last photos we've seen, his nose has been built up, right, he's looking better? >> yes. >> larry: was he still working at that? >> no, because i think we got to the point where he was very happy with the way he looked. filled in the cheeks a little bit. what i do with an individual patient is what i do. and what i do is just restoration work. i don't think people should look like, again, anything that's been altered. >> larry: you're not a plastic surgeon, so are you extending yourself when you do things like this? >> no, i invented injectible aesthetics. for better or worse, it's what i've been doing since 1979. i'm not extending myself. yes, plastic surgeons invented everything including the wheel. >> larry: are you on the war about injectables? >> the fda, they've gotten it approved without knowing what happens once they're injected under the skin. when you inject something synthetic under your skin, whether plexiglas, your body wil

to position themselves. you could look at the agriculture etfs, as i mentioned the energy, the financials, the tech, pretty much across the board. >> scott, does it matter. i'm going to take the other side. does it matter it's energy in particular? we're putting emphasis on this. you want to see leadership, but can it be health care, another name outside of technology at this point? >> it could be. but as we pointed out, oil is such a huge portion of the s&p. now stacy makes a great point, we've seen volatility buyers in oil names, but haven't seen directional option trades. and that may be the -- this may be a situation where it's the dog that doesn't bark is important. what this may be saying is people don't have an opinion about oil because we've seen so much volatility that even bad earnings news from oil is going to be discounted. people may well say -- oil's back above, well above $60, and we're going to -- we're going to focus on earnings going forward because now oil's fully priced. >> there's a little bit of a bac

to the broadcast. tonight we take a look at afghan strategy with andrew exum. he was in afghanistan for a month helping general stanley mccrystal with his assessment of the war effort and his recommendation for-to-the american leadership. >> if you look at afghanistan, there's a lot of reason to be pessimistic, to be very sober minded when looking at it, but on the other hand, i think a properly resourced strategy, especially one that builds capacity within the afghan government has a chance of success. but this is the 11th hour. at this point, we can't do anything in afghanistan that does not build capacity in the afghan... in the afghan government and in its institutions. ment. >> rose: we continue this evening with the "new york times" youngest and newest columnist in, he was ross douthat. >> the biggest long-term problem for the republican party right now is that all of the demographics that it's strongest in are shrunking and it's not just it's strongest among white, the white population is this ringing. it's strongest among white christians. the white chri

but, you know, have you to look in the long run at this thing. the linux based systems have been out for a long time, we'll have to see if they have the support for applications and when businesses look at these things they're going to look at that, and as some of our commentators see in the story, they're going to look to see if they can deal with the centralized control and the security, the kinds of things that have been built into windows over the few years. >> susie: so are you saying that microsoft doesn't need to worry about google? >> microsoft can never sit back and not worry. it's the king of the hill and everybody will be nipping at its toes. where they do have to worry, i think the net book is a short timer, i think we get bigger and better mobile phone smart phone devices, and google is a big player there, so is microsoft. so is palm, apple, there are a lot of players there. that could be the next wave. >> susie: i'm sure you'll keep us post on all that. thanks, scott. thanks scott, new york bureau chief scott gurvey. >> jeff: remembe

he was not actually looking at what he appears to be looking at. lots of people have shown it. >> schieffer: i saw the videotape. i don't know what was going on. but i must say i loved the caption in the "washington post" >> i just wouldn't want to be him at the dinner table. >> schieffer: what do these two people fellows share in common? they're both men. >> a little fun there. but the other picture was the picture from africa. he was back in his ancestral home for the trip. you know, he went to see the port where they brought slaves in. he compared it to nazi concentration camp. so that was a big moment. for him. and certainly had his family with him. and then at the same time kind of encouraged the world to spend more money on hunger. >> schieffer: 30 seconds left. i'm going to just ask you both quickly, will there be a health care bill this year? >> i'll say yes. >> schieffer: you think yes. >> maybe by the end of the year but not before the august break. >> schieffer: all right. thanks to both of you. we'll be back in a minute. trust is at the

so is that where you want to be looking, healthy balance sheet? > i think you want to be looking at healthy balance sheets primarily. and i think the bad thing is that some of the companies that people think are healthy today like some of the banks, you know, a lot of -- there's a lot of commercial real estate that's still got to get refinanced pape couple of trillion dollars over the next two years. >> that's what i'm worried about too. >> i don't think that's over yet, and i think in the back half of this year we're going to go from worrying about citicorp to worrying about a lot of the regional banks. you can't bail every one of them out. >> that's the thing. because a lot of companies have exposure to the commercial real estate market you that don't necessarily think of right off the bat. and so if we were to see a real shoe to drop this is going to be broad-based impact. >> and i think it will make people rethink, oh, well, are these banks really safe? and if they're not then where does credit go from here? because you can't keep running $2 tr

that's something to look forward to. . >> reporter: i'm sharon gibala live where they are tuning up for the third and final day of the african-american heritage festival. >>> taking a look at fourth of july celebrations in washington d.c. . >>> a big celebration for the african-american heritage festival wrapping up today. >>> sharon gibala is here with more on what is going on including anita baker there, in vogue was there. >> reporter: sound crews on behind the stage setting up and it kicks off with noon with gospel heading your way, we have mary wright here telling us more. >> we're excited to have the partnership with church of christ. health and wellness, financial empowerment and getting more information and resources to help you. >> reporter: you said that tent and area is the heart of the festival. >> we know the entertainment is a draw, but we want people to leave with resources, get screen for things plaguing our community and how to look for jobs and advance their careers. it's important. >> reporter: tell us how can people get here? parking can be tough. >> we don't encoura

>> i think you've got to look at yum as more of an international play. now that china's stimulus has been working better than in the u.s. it's about a quarter to 30% of revenues. you might as well go in now and get some of those revenues going forward. i think it's got greater legs and not just chicken legs, if you know what i mean. >> can we extrapolate the quarter on yum to other fast food casual dining players? >> we saw ruby tuesday's last week came in with really good numbers. yum was way better than expected. i think you have to look and see that the consumer is trading down, and this is just further proof of that. add to that the commodity costs are coming down, and i think you have dinner and a movie, something for trading after dark here. >> just real quick, i think burger king is something that's overlooked, despite the creepy mascot. better earnings growth and cheaper ps than everyone else in the space. >> yeah, but the creepy mascot, that's why it's cheaper, right? >> it's creepy. i don't want him. i don't like him. >> good point, patty edward

plus, can retailers pass the back to school test? we look at the winners and losers in the retail world.. as parents and kids gear up for the new school year. and....the latest harry potter movie makes its way to theaters...why fans and studios are expecting a lot from the boy wizzard...these stories and more all ahead on this edition of first business. bahoric compound caught a bit friday on tap as the dow jones industrial average rallied almost 7 percent and a few weeks old loans and it is if three for friday as we hear from three financial companies in the u.s.. if a couple of them here bank of america and city group to set the tone for the market had one friday in looking ahead to next week if the date malcolm plans that will continue to support with caterpillar 3 m and coca-cola as the dow breaks above six month highs. we have to get too big of america and general electric that third one is a big financial company despite it has is birds and aerospace and industrial utilities. the back to school season.. is the next big test for retaile

. >> the economic crisis has forced me to look back and look into it and dissect it to say, this is what we need to do to change it to do better. just a touch of parmesan. >> todd english opened his first restaurant all of 20 years ago. today he is offering 1989 prices for his meals during his throwback tuesday. >> i love the fact that we are going back. looking at the business, we have become a better business people again. >> a few blocks away, another top chef has crafted a new strategy. todd and his chef damon came up with a way to make good use of their private dining road, not booking nearly as many parties lately. >> when the seats are empty, we are losing potential revenue, so what can we do to fill our spots when normally on an even night it wouldn't be filled. >> everything on the menu is $10. including drinks. usually, it books a room for $35 a person. >> we wanted it to be inexpense i have inexpensive to draw a group of a crowd that currently aren't coming to craft. >> one restaurant gave away a two-course dinner one night. >> it would be easy for me to sit here and say, i ho

very weak and by most expectations it will remain weak for many months to come in at contains too wary consumers. and taking a look at the scorecard for your kid a sustained rally s and p 500 of 9% nasdaq up 25% in coming up in the show run talk to one money manager who stays he would hold on for more days will tell you why coming up a little bit later. but put him on the charts as well and really take a look and find out welcome happening in your portfolio. the latest response to the market meltdown by the stock cops is to permanently ban a type of trade called naked shorting....a technique that allowed people to bet a stock would drop in price without ever actually borrowing the stock. it's one of many actions taken by the securities and exchange commission in recent months, ranging from trading rules to investigative tools, looking for fraud. robert khuzami is the director of enforcement at the securities and exchange commission. a report on what went wrong at the s-e-c with madoff has not been completed, but tomorrow on the show, khuzami talks about how enforcement is changing. even if madoff had not occurred

he wanted to look well for one group of people, his fans. he wanted to embrace and love his fans, more than any performer i've ever known. >> larry: did he have hair? >> he had lost a great deal of it. >> larry: that was the pepsi fire, right? >> yeah, but then what happened was he used tissue expanders in his scalp which are balloons that blow up the scalp and what they do is they try to cut out the scar. because he had lupus, every time they would do it, the bald spot would keep enlarging. so i mean, went that you a lot of painful procedures with these tissue expanders until i put a stop to it. i said, no more tissue expanders. he had to wear a hat all the time. it was painful for him. >> larry: without the hat, what would he look like? >> he would have a big raised ball on the top of his head because of this device that would expand the tissue that you cut out. you get too much stretch back in the scar. do you understand? >> larry: did you see him one time without his hat? >> of course, i did. he would have a stretch in the back of the sca

at it and the other way to look at if you look better system we tend to reward, we don't reward states that do more, our cost share sunset 25 percent state and local and no less than seven represent federal share and we have the option to go up to 100% heretofore is our best and is what triggers the next level. rees said per capita impact to go to 1910 and obviously katrina was off the scale and made sense but oftentimes i find that we don't look at it from the standpoint of not only the consequences of how much more is the state doing with their own money that is offsetting the cost to the federal government and only going to see the cost shared go up when is it reaches a certain per capita were in a very tight narrow part of that disaster so i am looking at how the cost sharing not only ones because of the size of the disaster by how you use it as a capability of encouraging state and local governments to a better job of managing disasters? i got acid this by the wise man, one of this as the directors of fema and asked me is there anything if they could reimburse the state and i said

to be here. love the new look of "fast money." china has done well. dr. to take her committee and go at a you can to china about the stimulus that they've enacted there. the stimulus is working in china. auto sell as are up, 36%. home prices are now up as of june. factory orders are improving. so i think china is the place to be. if we don't get our act together in the u.s., more money is going to migrate to china. one of the areas i think you need to look at when you look at china is smaller cap company names. these are names that are not state-owned enterprises. many of the largest investments like fxi primarily own these large state-owned corporations that aren't really for the shareholder, they're for the state governments. i think as somebody who believes in the entrepreneurial spirit, we look at small cap. a small cap etf hho done well this year up 50% versus fxi around 40%. a place to look at. >> you know i'm a believer, we know china has decoupled. small caps, i'm concerned about the corporates in china. the small cap level, it's as atrocious as i

to know about artscape. >>> good morning. you are taking a look at what is going to be the biggest thing going on this weekend, artscape. it's in fact, the largest art festival in the country. lots of people will be in the baltimore area to enjoy that. they have already set up the booths, but that is just one of many several streets that are closed down today to accommodate artscape. so just make sure you get out there and enjoy that this weekend. good morning, it's friday july, 17th. i'm patrice harris. >>> let's see if we can enjoy artscape this weekend, based on the weather. meteorologist steve fertig is here to fill us in. do you usually go to artscape. >> yes, i do. i didn't know that. i just learned that. >> it's the largest. >> i didn't know it was the largest. >> the largest in the country. baltimore is on the map. >> and the weather will cooperate very decently after today. today there may be snarm thundem concerns throughout the day. look for more clouds later in the day. 86 by noon. it's going to be a hot one as we quickly warm up getti

again, thank you for the opportunity to speak here today. and i look forward to answering your questions to. >> thank you very much, mr. hill. thanks to the entire panel. this is interesting testimony. i look forward to my own questions and those of the committee. mr. mcraith, i'm going to put you on the spot for the first question. in pennsylvania, we had a company that in 2001, reliance of pennsylvania, maybe you're familiar with it, mr. steinberg who took the insurance proceeds of that and that allowed him to play the role of a multimillionaire, speculator, benefactor of the working school and art maker. is that correct? do you recall that transaction? >> i'm certainly familiar with the company. i wasn't familiar with the work and school. >> subsequently that company defaulted on bonds and bank debt your and had chosen a federal regulator of its own choice because it was a holding company. how would you say the affect of what happened there with that particular company, is that a failing of the state regulation, state to state wax would that have oc

>> i can't answer that question in the abstract because i would have to look at what the state of the state's law was on that question, and what the state said with respect to that issue. i can say that the question of the number of weeks that a woman is pregnant has been that approach to look at a woman's... was changed by casey. the question is: is the state regulation regulating what a woman does an undue burden? and so i can't answer your hypothetical because i can't look at it as an abstract without knowing what state laws exist on this issue or not. and even if i knew that, i probably couldn't opine, because i'm sure that situation might well is rise before the court. >> holman: another abortion opponent, texas republican john cornyn, pointed to the "washington post" article from may. it reported white house officials were reassuring liberal groups about sotomayor's record on abortion rights. >> there was a "washington post" it goes on to say, "white house press secretary said the president did not ask sotomayor specifically about abortion rights during their interview." is that

i think you also want to look into financials very cautiously. that's something that you could get some opportunity but you really need to proceed with caution. but certain areas at the lower end of the consumer, the consumer's not dead, but he is damaged. sought lower end there. and i think you also want to look at not integrated oil but some of the exploration companies that are part of that long-term capital outlay. so i think there are opportunities. i do believe the market will be higher six to twelve months from now. but i would be surprised if there is some -- the economy is going to be stimulus driven for a while. and you're right, we want to see revenue and we want to see real demand and real growth drive a lot of these. >> that's the thing. because people question the rally. you really haven't seen that substantial a change in fundamentals when you look at earnings, it's really a cost-cutting story. and when you look at even the housing market, yes, we've gone three good months of existing home sales, but you don't have dramatic shift in

time to stop trading. jim, you look great. i love to see ow a friday. why is gm still trading? why is aig trade something if either of these companies have gone bankrupt, they have thot officially gone bankrupt, but -- >> they couldn't put it bankr t bankrupt. >> one of the things and it's interesting because garry is ahead and i was reading his old book and healks about the notion and maybe there should be umpires and the government and the exchanges should be -- that stock will be san celled. worthless. they said the aig stocks will most likely be worthless. these are chops for people. this is just reading the gm's out of bankruptcy and thises meaningful? it's meaningless. someone has to protect the regular guy. they are mucmore worried about protecting the guy who makes millions of dollars. the stock should be cancelled. has nothing to do with gm. >> people are getting squeezed. two people on each side of every trade. >> it's difficult to short, but whoever is selling it and selling it will make a lot of money. it's not a stock. it's buy ag i lottery ticket for a lottery th

in recent years, we have to look more at the system. the major airlines have come to rely heavily on code share arrangements with the so-called regional airlines to connect large, midsize and small cities in the u.s., in canada, in mexico to their international hubs. this is resulting in exponential growth of the regional sector of the industry. still the major carriers exert a great deal, almost total pressure on the regional airlines to provide their service at the lowest possible price. they control ticket pricing and schedules, and they regularly move line between the regional partners. this exacerbates breaking the chain of pilot experience, couple that with 160 or more bankruptcies in the airline industry and airline pilots leaving the industry because there's been no way to protect and retain that experience in the cockpit. we start over again and again. some of the major airlines even today are outsourcing their flying to the regionals, and laying off their own pilots, losing those decades of experience in the profession. these e

maybe you could give this to us in writing. when they lookt the books at merrill lynch, they realized there was a $9 billion shortfall according to mr. lewis. and then there was a $12 billion shortfall. my question to you, and i hope that you'll get this back to me in writing. how did it get from 12 billion to 20 billion. >> that is one i cannot give you in writing, i do not know. what i heard was a call with the losses were 18 billion, there are 22 billion and what i said to people, this takes my breath away. when the market here is that -- all that i could say to you is, at the end of december -- and november were the worst months in the marketplace. this was the worst month for the economy, if you look at what was happening economically, this was the worst in terms of the credit and the bank losses. when i was looking at this i was not surprised that this could have happened so quickly, but i do not have an explanation. you have to get this from merrill lynch. >> i can see this if we're talking about millions. we are talking about billions

to politics. not with health care issues. >> hold on. when you look at the stats, combat veterans, 50% more likely to use tobacco. 37% of soldiers and 36% marines. what they find is the individual whose go into the very worst situations are far more likely to smoke. it seems to me when you want to eliminate smoking, instead of answering the question, what help do they need to drives them to smoking, wouldn't that be smarter? >> it also might be smarter to make sure our va hospitals be fully staffed, that veterans get their benefits. steve didn't complain about that. the fact of the matter is it's true. the soldiers in the more stressful frontline positions tend to smoke. that stands to reason. the question is smoking ultimately in the interest of the truths? all the health care experts inside the pentagon and the secretary of defense will come out on the side of that. >> this is the problem with nationalization of health care. the minute other people cost us money, we think we can tell them how to live their lives. you are too heavy, put tt cookie dow

some of the things we're going to have to look at, we're going to have to look at end of life care no matter what your age is. no matter what your age is. to what extent should the fund heroic measures that do not immediately improve or extend life. that's based upon the physicians determining that, not based upon some government employee determining that. so we need to recognize that, because that's a big part of cost. yes, we need to be able to get a lot of administrative costs down, leverage technology. if we're going to have to spend money on technology, we've got to require people to use it as a basis of getting paid. if we spend all the money on technology and say, gee, we'd like you to use this but you don't have to use it, that doesn't make any sense. same thing like evidence-based medicine. we need to be able to tie medicare payments and federal government program payments to that or else it's nothing more than a recommendation. and that won't work. >> david is going to be with us for the next two hours. we're going to be talking about this and other issues. >> any comments o

the next one begins, you begin to look at those numbers pretty closely. >> stand by. i want to remind our viewers, 10:00 a.m. eastern tomorrow morning, we'll be here, we'll be covering this hearing. the history of the next supreme court justice will take place. you'll see it all unfold throughout the coming days right here on cnn. stay with us for that. 10:00 a.m. eastern tomorrow. much more with jeff, ed and candy. we'll talk about the cia. what's going on right now? >>> and the former vice president dick cheney, lots more right here on "state of the union." you have questions. who can give you the financial advice you need? where will you find the stability and resources to keep you ahead of this rapidly evolving world? these are tough questions. that's why we brought together two of the most powerful names in the industry. introducing morgan stanley smith barney. here to rethink wealth management. here to answer... your questions. morgan stanley smith barney. a new wealth management firm with over 130 years of experience. >>> justice department has just reacted offi

i want to look through these again. hold on. just trying to get the numbers.. 28 cents a share, net income of $2.7 billion. and the top of the report, taking a look at some of the things -- the bid/ask is moving immediately. 36.70 on the bid. it was a 36.20 on the close after yesterday, up about $1.60. 36.70 to 37 opinion. >> and earnings, we saw this with the gold marn numbers, the amount that it -- the earnings per share were reduced by the payment they're saying was 27 cents. without t.a.r.p., would that have been 28 or 27? a loss of 27 for the tarp repayment. the fdic's special assessment, that created a loss of 10 cents. so we'll weigh you through and get numbers on that because -- >> but since the last time we saw this, the analysts usually know about the t.a.r.p. so the clean number is probably still the 28 cents which is -- you know, i hesitate to say it, you know, it's eight times, they beat it by a factor of seven. people were saying that they had to beat this handily because of the runnup that we've seen. 28 is strong

things continue to look very good over there. company says that it appears the economy is beginning to stabilize, but eric schmidt did come up a little short as far as what the company sees in terms of an overall economic turn-around. i should mention going back to ibm for a second, 17 deals signed on the quarter. over $100 million. on the services side of the business. really this idea of a slowdown in i.t. or enterprise spending, ibm certainly is not feeling the pinch there. going back to google, the company is saying that mobile is an increasingly important part of the company's business, and it all looks good on that front. you know, this is -- this is good news. we're seeing google trade down a little bit, probably because that whisper number on the top line was substantially higher than what google had reported. remember, that expectations were so low headed into this quarter, i think a lot of people are looking for a top-line beat and it really didn't happen to the extent that some investors were hoping for and we're seeing

we need to do this in an integrated manner. we're looking at very similar debtor the analytic work is similar. the approach and recommendations should be consistent we need to have an efficient use of staff resources. let me point out to folks in the community that will give us input, that in light of that, the filings in proceedings for the 706 report will be incorporated into the broadbent proceedings and vice versa. we'll take the comments into the record of the broadband proceeding. it will be a continuing process. this leads us to thinking about this as an omnibus broadband initiative. the purpose is to deliver on all the different congressional mandates. it is important that we create institutional knowledge on broadband beckons our ongoing policy deliberations. we will deliver a plan by the date of february 17. the broadband work will be far from over for this commission. it is important that the information stays here as the engine city continues as the expert agency on these issues. just like the dtv thing, as scott so wonderfully c

for the rest of us, we are going to look for a quiet evening. maybe some patchy fog by early morning. coming up, we will take a look at the extended outlook and the all important beach outlook. >>> the government wants to assure you that the cash for clunkers program is still in operation. the plan was temporarily suspended last night when the initial $1 billion ran out. scott thuman has the latest. >> there is no doubt that this program is a boost for dealerships. they have done more than 300 deals in one week under the program, so when it stalled, there was great relief when congress acted as quickly as you will ever see. on the hill today, a panic. paddle to the metal, an additional $2 billion to keep the program alive. will the president was thrilled -- >> i am happy to report that it has succeeded well beyond our expectations. >> few were as excited as buyers, like suzy. >> buying a brand new car, its really hard in this time in the economy. >> the system's computers froze up. dealers were working through the night. >> we stayed open until i

to be. what do you look for? >> well, we have to look whether there will be stablization of the job market and unfortunately i see unemployment rate well above ten percent in year and close to eleven percent at the peak next year and there's a massive weakness because of consumers being hit by the housing wealth and falling labor income and rising debt and that's why i'm some how bearish about the recovery i expect it to occur anytime soon and that will be a negative for the markets. >> suzanne: very interesting thoughts from you. thank you very much for joining us. >> pleasure being with you. >> suzanne: my guest this evening professor nouriel oubini. >> paul: wall street went from a strong open to a mixed finish as investors focused on the continuing flood of corporate earnings. the dow opened with a 31 point advance while the nasdaq was up 11 points. but after a week of gains profit takers moved in and by noon the blue chip dow was in negative territory. the techs managed to hold on giving the nasdaq its 11th

yoyou want to look your best an you need to keep busy.y those nerves in >> very difficult. >> reporter: they came on their broom sticks from from all over the world, 300 would-be witches but only one job. have a breath. have a deep breath. who's going to get the job? >> me! >> i can't stand the thought of going back into the office again. the kids think i'm a witch. i might well make a living at it. >> this is the prize, entertaining tourists but also earning 50,000 pounds a year. no wonder things were getting a little tense among the waiting witches. >> go on you hags, go on. look at ya! >> reporter: they each had a minute to pitch for the job of witch. what unique skills will you bring to this role, sir? >> well, i'll show you. >> reporter: he didn't win. she did. calamity carla from shipton. >> i knew it, i knew it, i knew it. >> reporter: the judges said they liked her naughty side and she comes perfectly qualified. agent.now she's been an estate y itamcank caly itcarla looked especially hideous. >> she was kind of easy on the eyes, w

you have to look at their education. you have to make sure they have had criminal checks and security checks. have to look at their past employment. you have to train them. we have this preparing thiedness fatigue. trace: the baby that went through the x-ray machine. when you let a baby go through, are of the guards just so low that they are not paying attention? >> it might be an individual working who is not always assigned to that post. somebody could have called in sick. it could be somebody not even trained to do that work. that is reprehensible. and then if you do not pay them a good wage and give them the benefits and keep up the training, and have the company that provides these contract security officers -- if you do not have them coming in every single shift. and do what the gao did. trace: this is a critical job. you should be awake and alert at your post. thank you. martha: a massive cyber attack overwhelming computers in the u.s. and in south korea. a slew of highly sensitive targets, including the white hous

washington avenue will be the best bet to get around this. looks like they are going to be out here cleaning up this accident scene for some time, for at least another couple of hours. you can always stay posted on- line at wusa9.com. that's where we have an understand den map and the latest information on this situation. let's go ahead and take you to the water main break. another traffic story we have been following all morning. crews out here keeping the eastbound lanes of franconia road closed between wilton and telegraph road. what we know is detours are posted and you will be able to get around it. on 66 we take it outside and show you the traffic is very slow. very unlikely for what we see on friday. from 123 to the capital beltway. very heavy and this is just volume. and throw in there on the eastbound dulles toll road at the off ramp we have an didn't blocking that ramp, as well. to the outer loop we go. no accidents or issues to report. here, we can take a breath of fresh air and wrap it up with an accident in hyattsville. this just poppe

depend upon what the future is going to look like has been had an effect on how do you go to the banker and borrow money, and say i'm going to expand my practice? the banker says, it looks like you're going to be making less money each year. i don't think i'm going to make you that loan. this has a terribly pernicious effect on keeping physicians in practice and allowing physicians to build their practice. the far better way to do this would be for us to bite the bullet. the formula is scored by the congressional budget office as costing $300 billion to buy out of. so $30 billion a year out of ten years. the reality is the money has already been spent. there is no money in the federal treasury gathering interest. congress has already come in and said, doctor, we're going to pay you at least what we paid you last year. so there is no money that has to be paid out. it is a bookkeeping adjustment that needs to be made and congress needs to make that bookkeeping adjustment and then pay doctors based on a cost of living adjustment just as they do drug

just one accident that's going to be in the bell camp area. meantime there's a look at 95. that's our first delay of the morning. 95 southbound slow down to the beltway. you can see stop and go traffic there. otherwise the beltway still running smoothly. otherwise we're seeing a little bit more volume there. everything running smoothly and also on the west side of the beltway at liberty road. you can choose from one of america's best selections with 16 different choices at toyota. back over to you guys. >>> on this morning's coffee whiz, don and marty sit down with two documentary film makers. >> guys, welcome to the you witness news morning edition. so good to have you. we have got such a background for music in this city that you have taken your rightful place in the profession as you move into the -- into this century. you know, you go back to pennsylvania avenue, you go into early baltimore local radio, just fast forward the tape. well done, man. well done. >> thank you. >> i appreciate that. >> will people be surprised you aren't in the know, how much into the hip hop s

on monday, cambridge officials tried to look ahead. >> i am committed to making sure our city is not defined by that day. today is the day to move forward. >> the president wants to do that as well. spokesman robert gates says he could go to the white house sometime this week. >> racism and racial profiling are things both of these men know well. he spent most of his time studying how blacks are treated in america, and sgt crowley taught a class on how to avoid racial profiling for the past five years. >> breaking news about michael vick. the nfl has announced he may come back. he was suspended afte discovered having dogfights. now nfl leaders say they will allowance him to the field. the problem may be finding a place for him to play. some teams have already said they will not consider signing vick. surprising new details about the drunk driving arrest of alexandria's police chief. at the crash scene in arlington, we find out how much of the hall the chief might have had to drink. >> -- how much alcohol the chief might have had to drink. >> i am standing near where the crash happene

what we need to look at is what is relevant now? lk to our children, the kids in my school in hartford, connecticut. in hartford talk about, they see the naacp as the image awards and see the naacp as the freedom fund dinners which are corporate sponsored. >> so it's just sort of the headline or marquee and nothing behind it -- >> from the niagara movement to hollywood. >> reverend sharpton, go for it. >> well, i think that, first of all, i would agree that the civil rights issue of today is education. if you don't have equal access to the same education, you cannot produce the equality that is the goal in society and i think the president is right in identifying that and that's why some across party lines and racial lines as he has said in that speech have come together. i think though that the naacp and other civil rights groups cannot be aligned with those that would make them not address that. but at the same time there are social issues that have to be addressed around the educational experience. those same young people still ha

frustration you see in the report and that's the obligation of the prime contractor but we're going to be looking at the prime contractor system to be sure that they're fulfilling their contractual requirements. >> well, that sort of analysis look at the inhouse versus contractor accounts there were mess sergeants which is better for the taxpayers turn up the soldiers salaries if necessary. and similarly, are there rules of thumb evolving or maybe already existing in terms of the amount of contracting oversight per dollar of spent, you know, that as a rule of thumb you want one person on the ground overseeing every $20 million of money spent or something like that? >> well, what i saw in afghanistan personally is the defense contract management agency went through and identified several thousands of tasks that needed to be done and drew it down to 537 individuals, theater-wide, that needed to go out and look at that work being done. the unfortunate part was the number was either 160-something or 180-something but it was only 36% of those positions were filled. so about 2 out of 3 positions -- the

if i want to be looking at those areas to present the greatest potential for an investor from those areas that cost the financial prices those areas where we feel that misconduct were we need to make a statement in those areas which markets and transactions were those areas where individuals have fiduciary duties put a large number of investors in our response will pull in for protecting those investments unless he has moved there in part because can be particularly in areas that have predict when does a better than the sec does. more on that and new rules and program. for the first time in more than 50 years, there's been a drop in the number of utilitiy customers...on our website hear what's causing people to shut resistant to the president's plan for healtcare reform. and...should the securities and whistle blowers....you can find these stories and more atand straight ahead on thethe outlook on jobs in manufacturing...how employment in that industry is being impacted by everythng from healthcare reform to cap and trade regulations....that's coming up next. while the us job market hasn'

he doesn't look bad to me. >> he looks incredible.strong. >> larry: how does it hit you now, jermaine? >> it hits me very, very deep. very deep and in shock. very hurting in paining, the world's paining, my family's paining because he's gone too soon, too soon. >> larry: what's it like to be here? >> it's wonderful to be here. >> larry: explain. >> this is his creation. this is his -- like i said, this is the ultimate serenity at its highest level. this is his wonderment, his joy, his happiness, his peace. and i feel him everywhere. i feel him all around here. he's never left. >> larry: the thing that hit me the most, others may have told you this, is i expected to see some kind of, for want of a better term, a honky-tonk atmosphere. >> what do you think? >> larry: beauty, serenity, calmness. don't feel like wearing a tie. this is just relaxing at the water. we're going to take a little walk later over to the tree where -- i can't -- i'm totally taken aback by it. in a plus way. >> tell me this, with all the negative things that they