the ceo of alcoa, klaus kleinfeld, is here.e president and general manager of davenport, malcolm murphy, is here. and an old friend of mine who actually drove me around a couple times while i was traveling around iowa, skip mcgill, is here, president of the local usw. you know, i know you've been seeing a lot of politicians around lately. something tells me that you may see a few more before february is over. but iowa, you and i, we go a long way back. and those of you who are coming over from the illinois side, we go even longer back. so we've got some history together. and together we're going to make some more history for years to come. and that's why i'm so glad to be here at alcoa. all of you are showing the future we can build here in eastern iowa and all across the country. almost every airplane in the world has some kind of alcoa product in it. think about that. every airplane in the world, you guys have something to do with. in fact, it turns out that you're responsible for the wings on air force one. so i want to than

it was a pretty smooth ride thanks to alcoa.dent named charles martin hall 125 years ago. and back then it produced about 50 pounds of alum numb a day. and it was so hard to sell, that folks kept on telling charles that it was pointless even to lock up the plant at night, because nobody wanted the stuff. but when the wright brothers -- you heard of them, right? the wright brothers -- when they needed a lightweight material for their plane, they turned to alcoa. and this company hasn't looked back ever since. when president kennedy challenged america to go to the moon, your engineers produced the alloys to help get a man on the moon. in afghanistan and iraq, you've helped provide our troops with the armor they need to protect their vehicles from roadside bombs and ieds. when i go to walter reid or bethesda and i think about all the lives you guys have saved, it makes me proud of what you do right here. and today your new aluminum lithium alloy is making some of the world's most advanced airplanes lighter and tougher. and more cos

new planes made by airbus will be covered in alcoa aluminum. in a $1 billion multi-year deal, alcoa will provide the jet maker with aluminum sheeting and alloys. airbus plans to use alcoa's products on virtually all of its commercial jets. those alloys are said to be 10% lighter than the composites being used by other manufacturers. it's back to jail for former media mogul conrad black. a federal judge today said black will have to serve 13 more months on his convictions for fraud and obstruction of justice. he's already served over 2 years for cheating shareholders of newspapers he owned out of money. last october, a federal appeals court threw out two fraud counts against him. his total jail time was cut today, from 72 months to 42 months. >> tom: the recent stock market weakness has not left any major stock sector untouched. since the beginning of june, all 10 major stock sectors have lost money. alan lancz is the director of research at lanczglobal.com. >> tom: welcome to nightly business report. nice to see you. >> thanks, tom. >> tom: so

that takes alcoa below $15 per share for the first time all year. bank of america also continues to pressure the dow. look at this move. off almost another 3% today. b. of a. shares are at their lowest price of the past 52 weeks-- in fact, the lowest since may 2009. more on bank of america coming up in "street critique." life insurance firms saw the biggest loses in the financial sector, hit by their own falling stocks and the drop in the market hurts their investment portfolios. lincoln national, met-life and genworth fell between 4.3% and 5.3% each. we saw a strong move up in the u.s. dollar. this is just the past 90 sessions of the dollar index. the weaker dollar trend has been around longer than that, but since may, we have seen the currency try to turn around. today popping higher. johnson & johnson is getting out of a business it all but invented. the company will stop making drug-coated heart stents-- the tiny springs that prop open clogged heart arteries. it's a $4 billion a year global market. j-n-j will take a charge against earnings this

alcoa was the biggest gainer inside the dow jones industrial average. home building stocks found buyers, even if existing homes aren't. as we mentioned in the newswheel, existing home sales fell last month. this is the past 90 sessions of the exchange traded fund following home builders. it's most recent bottom was about a week before the latest market bottom. it has turned up since, adding almost 2% today. we saw buying back in several chinese online stocks. sina, baidu and sohu-com are online media companies in china. sina rose between 18.5%, baidu up 8% and sohu was up 6%. these stocks have seen wild price swings in sympathy to trading halts on other chinese- based u.s. listed stocks over accounting concerns. but they have not been involved directly in the controversy. semiconductor maker advanced micro devices advanced almost 5% on heavy volume. there's speculation about a new c.e.o. the firm has been without a permanent chief executive since january. and that's tonight's "market focus." >> tom: the return of the greek debt crisis and the approachin

[applause] the ceo of alcoa is here.applause] vice president and general manager of davenport is here. [applause] an old friend of mine who actually drove me around a couple of times while i was traveling around iowa this year. -- is here. [applause] you know, i know you have been seeing a lot of politicians around lately. something tells me that you may see a few more before february is over. iowa, you and i go along way back. those of you were coming over from illinois, we go even longer back. we have some history together. together, we will make some more history for years to come. that is why i am so glad to be here at alcoa. all of you are showing the future we can build here in eastern iowa and all across the country. almost every airplane in the world's has some kind of alcoa product and it. think about that. every airplane and the world, you guys have something to do with. [applause] in fact, it turns out that you were responsible for the wings on the air force one. i want to thank all of you for getting me here

he'll be at alcoa, a company that is adding manufacturing jobs in the united states.fund board is expected to vote today on a new managing director to replace dominique strauss-kahn. and nasa will talk about final preparations of the final launch of the space shuttle. >>> zain verjee live with us from london. good morning to you, the amanda knox murder conviction appeal is under way. so many of us were riveted to the initial trial of the american girl who went to study in italy and got confused and convicted of a murder along with her boyfriend and another man. and now that is all coming back to play out. >> yeah, ali, it continues to be really dramatic in court. and pretty explosive. just to update you on the latest. a man by the name of rudy guerde, got on the stand, and testified that amanda knox and her ex-boyfriend, did kill meredith kir cher. he was placed at the scene of the crime when it happened. amanda knox was totally pale as described by various reports and visibly upset. when he left the room, she got on the stan and she said, she was pained and anguished

he is touring the alcoa aluminum factory in davenport and talking about manufacturing and the economy. the white house insists the stop isn't about politics, but he will have a different message to iowa voters than the republicans who want his job. randall pinkston, cbs news, waterloo, iowa. >>> and today there is a huge wildfire burning across the mountains just above los alamos, new mexico. and it has now burned 93 square miles. crews are working around the clock. there are flames just across the road from the los alamos national laboratory, where scientists developed the first atomic bomb. lab officials say that no contamination has been released and radioactive materials are currently safe. more than 12,000 people have evacuated their homes. so far, that fire has destroyed 30 structures. >>> coming up, the fda puts the best selling cancer drug under the microscope once again. >>> i never thought in the united states i would have to beg for a drug that's keeping me and many others alive. >> why supporters of avastin will have their work cut out for them. >>> and a -- >> and i -- >>

caterpillar led the dow with its 3% jump; mcdonald's added 2.5%; alcoa gained more than 2%. speaking of overseas business, that was one of the strengths of nike's latest quarter, which we reported on last night. here's the update on the share price, jumping more than 10%. volume was more than five times its usual pace. this rally takes nike shares back to where they last march before it reported disappointing earnings in its previous quarter. online networking site linkedin received a couple of strong endorsements today. the stock went public in may with its first trade back then was $83 per share. ubs and bank of america merrill lynch both began coverage of the stock, calling it a buy. j.p. morgan rated it overweight. shares jumped 12%. merrill lynch and j.p. morgan both helped manage linkedin's initial stock offering. two other web stocks saw significant buying interest. jobs web site monster worldwide was up almost 10%. an analyst at oppenheimer voiced support for its facebook strategy called be-known and a new search product. chinese online television firm youku popped 3

alcoa the top aluminum producer sees a big future for the metal with an average growth rate of six point five percent annually the company wants russia to take a big part in that development and the vice president says if they're trying to make that happen. we have a strong business in russia has been here since two thousand and five to seven hundred fifty million dollars in the market you see we see growth in this market so we're we're going to we're going to you know focus on more sure and what we're trying to do in motion there is increased productivity and just make sure that you know both our plants reach a level for activity that is consistent with what we were seeing aluminum you know growing demand growing we look at a market like china. fifteen percent in two thousand and eleven seen in market like russia where you see a man growing probably eleven or twelve percent this year so it's double digit growth for movement there's a lot of substitution going on copper wire you change into movement and there's a lot of lightweight vehicles trucks and cars where you have to meet new emis

he toured an alcoa aluminum factory a plant he says stands as a model of innovation and persistence in the face after a battered economy and defended his record on the economy. >> the problems that we develop didn't happen overnight. but we will solve them. >> sarah palin was also in iowa today for the premier of a documentary about her. she didn't comment on a possible presidential run. >>> oil companies normally get a bad rap for the rising gas prices but one consumer group is pointing its finger at someone else. >> a growing threat as a raging wildfire races toward a nuclear lab what could happen in a few days that could make things much worse. >>> it is official. it is the second wettest june in san francisco's history. now the big question: the raindrops and when are they out of here? your pinpoint forecast as eyewitness news continues. ,, siege of a kabul hotel popular with journalists and diplomats has just come to an end. nato helicopters fired at gunmen on the roof of the intercontinental, apparently >>> a hotel was bombed in afghanistan. there was a siege that just ended. nat

alcoa will be first on july 11. according to thomson reuters, expectations for q2 profits for s&p 500 firms have gotten progressively better since the start of this year. still, portfolio manager jack caffrey says the bigger issue for investors will be what companies say about the second half, when some worry the economy will slow further. >> i think companies will have positive news-- are likely to have positive news in terms of what they've recently seen. that said, i would expect them to offer a bit more cautious guidance, attempting to underpromise and overdeliver in terms of managing those expectations. >> reporter: historically, the summer is not kind to equity investors. and, many strategists say the next few months could be rough. but, some also say it could provide investors with opportunities. >> on the whole, i think you're looking at fairly low expectations and i think it's at low expectations that can bias us to more positive outcome, more positive market reactions to the news we wind up getting. >> rep

he'll tour the alcoa aluminum plant in davenport, during a trip the white house says is aimed at the economy, not politics. still, the visit comes as republican presidential candidates step up their campaigns, and attacks. >> we cannot afford four more years of barack obama. >> reporter: in waterloo, iowa, tea party favorite michele bachmann formally announced her candidacy monday. and tonight, another tea party favorite, sarah palin, will also be in iowa. her political ambitions are still unclear. but she's attending the premiere of a documentary about her career. >> she was a ceo of 25,000 employees. >> reporter: whether you're a candidate or a potential candidate, iowa is considered a key step toward the white house. not only is it a swing state, it's also the first state to cast votes for the gop nomination. texas congressman ron paul and former senator rick santorum are also courting voters in iowa today. they're expected to use the shaky economy and high unemployment as ammunition against president obama. he hopes highlighting the success at this plant will help defend his poli

alcoa got hit pretty good, too.e created more than 2 million private-sector jobs over the last few months alone. that is in the last 15 months. [applause] the workers that were fired, most of them have been hired back. that is worth applauding. [applause] much numbers don't matter if they are still out of work. or if they have a job that doesn't have enough to pay the bills or the mortgage. the market is going to take time. the problems that we develop the not happen overnight and we are not going to solve them overnight either. but we will solve them because after all we have been through, , we are still the united states of america. we have the best innovators and entrepreneurs. we have the best workers in the world. [applause] together, we have got the capacity not only to get back to where we were, but to get to where we need to be. that is why i ran for president. to get us where we need to be. i believe in an america where families are not just treading water, and there are moving forward on things like clean

president obama makes a stop at an alcoa plant to talk manufacturing jobs. >> this isn't the first time that palin stepped on another candidate's announcement, is it? >> reporter: no, it's not. she was in new hampshire. stole the top headline the d d mitt romney announced. the day jon huntsman announced, she shows up at a motorcyclether rally in a leather jacket. now, she's casting a tall shadow over michele bachmann. while other candidates try to avoid stepping on their fellow partisans' announcements, she doesn't seem to worry about that. >> john hendren live this morning in washington. thank you. >>> is there a palin/bachman rivalry? michele bachmann talks live with george stephanopoulos later this morning on "gma." >>> as we head into the busy summer travel season, the government is issuing its annual report on security awareness. the fbi and the department of homeland security say while there's no specific or credible terror threats, travelers and people attending large-scale celebrations are still warned to be diligent about the possibility. >>> high-level white house meetings did

trading in positive territory rebounding after a long streak of losses and tracking gains in europe alcoa is leading the gains on the dow it's up to. well procter and gamble's losing ground zero. stock markets in europe ended tuesday's session slightly positive was gaining on the foot c.h.m. be also quite positive in london after the company said it secured new financial agreement with its banks and utility stocks were up in germany on leading the way on the day it's. moved to russia and stocks jumped so by a hefty amount they are ts up two percent my sex one point eight percent this is on the back of rebounding oil prices and metals prices if you look at individual shares you'll see ross snapped up two point four percent that's on the speculation that it may acquire a stake in rival oil producer t m k b p o c t t v's is up to gas prom was up four and a half percent the company is negotiating gas prices with ukraine and belarus than banking stocks were also on the rise from t.v. up normal to six. is insults he will be back in fifteen minutes time with play next up on r.t. the headlines wi

they're trading in positive territory rebounding after a long streak of losses tracking gains in europe alcoa is leading the gains on that was our troops have injuries losing point four percent. stock markets in europe and the tuesday slightly higher for itself by just the notion of that point three percent miners and retailers were high while the utility companies in frankfurt working in the marsh. and in russia stocks so saw the gains the r.t.s. up two percent my six one point eight percent on tuesday on the back of the oil prices and metals prices look at some individual share moves on to my second as the blue chips were higher this hour rose next climbed on speculation it may acquire stake here no rival oil producing team k v p i think he was also actually right cass braun shares were up four point five percent as it negotiates the prices with ukraine and bellow roos and banking stocks are also on the rise with the e.c.b. up more than a percent. because considering selling fifty percent of its gas pipeline operator bell trans gas they would only happen if moscow agrees to export natural g

in this particular case, the alcoa building, the structural members are on the outside of the building. so you can see it right away. what's the danger with this building? glass. good. glass. so you have your typical office. what are some of the hazards here? remember, earthquake island, what are some of the hazards? the lights, glass windows, yeah, glass we already talked about, the bad things. how about all the book stuff? building is still standing but everything else will fall right on top of you. bookcases, you want to secure those; right? this is what's going it happen. if you as nerts you went in there and got a report that there may be people trapped, where would you start looking for them? upper floors and void spaces. again, we talked about glass. are these people a little too close, do you think? did they give you a rule of thumb how far away to stay from buildings. well, actually 1 1/2 times the height of the building. so if you are in a 30-foot building -- you already did the math -- you want to be 45 feet away. glass falls out, too, do you think it just falls straight dow

earlier president obama visited the alcoa aluminum plant to promote the manufacturing sector as crucial for job growth. >>> california governor jerry browowis expected to sign an $86 billion austerity budget approved by lawmakers last night. now, the package closes a $9.6 billion deficit, but it's likely to be challenged in court. both parties are unhappy with aspects of the budget. republicans don't like the new fees. democrats oppose deep spending cuts. >>> an air force f-16 fighting falcon like this one has crashed during a training mission about miles from las vegas. now, there is no word on the pilot's condition. the $18 million plane was the type that's used by the air force's aerial demonstration team the thunderbirds. it can hit speed ss of 1,500 miles an hour. >>> the first named storm of the atlantic hurricane season is making a beeline for the eastern coast of mexico. tropical storm arlene is expected to pack 60-mile-an-hour winds when it makes landfall this evening and could bring rain to texas but forecasters say it will not pose a threat to the u.s. >>> on that note, let's

month traveling around the country visiting quite a few manufacturing plants even today he was at the alcoa plant in iowa talking time and time again about the role of manufacturing in this country when you talk about the middle class that's certainly a role that they've played no i certainly agree i think most people would that obama talks about the need for infrastructure roads and bridges but also right now we're seeing the new san francisco oakland bay bridge being sent to the bay area in pieces from china will be put together there of course but essentially one of the best examples of new infrastructure here in the united states has a made in china label on it so my question to you is how can the president save manufacturing here when it's simply not cost effective for most companies to use native american products. well you highlighted the problem the challenge are there so there's sort of two things going on the first obviously is that we want to see more of the kinds of jobs in manufacturing and otherwise that we once that once from the basis for sort of the middle class i think it'

the president visited alcoa aluminum plant which he says is a model of innovation and persistence inattered economy. he acknowledged the slow pace of economic recovery but urged citizens to be patient. >>> the struggling economy will likely dominate the president's first formal press conference since march later this morning. george stephanopoulos will anchor our coverage live at 11:30 a.m. eastern time. >>> just hours after the president's visit to iowa, republican firebrand sarah palin arrived there. palin was in iowa for the first public screening of the "undefeated," a film about her rise in politics that has sparked speculation about her political future. however, palin insisted she is not yet ready to announce her intentions. >>> how about this. the vatican is taking a gianan leap into the world of social media. pope benedict sent his first tweet and at the vatican he says he typed it out himself on an ipad. very modern. what did he say in this tweet? he announced the launch of a snazzy new web portal called www.news.va. the leader of the world's catholics already has over 1 bi

just like alcoa, america has to make investments. we know we have to get control of our investment.re some things that aren't going to solve all of our problems, but can make progress right now. and the question is whether or not democrats and republicans are willing to put aside the exspeedance of short-term politics in order to get it done, and these folks are counting on us. they desperately want to believe that our their leadership is thinking about them, and not playing games. i think that if all the leadership here in washington has the faces and the stories of those families in mind, then we will solve this debt limit issue, and we will put in place steps like a payroll tax cut, and infrastructure development. we will continue to fund education. we will hold to a commitment to our seniors. these are solvable problems. but it does require us just getting out of the short-term, and frankly selfish approach that sometimes politics breeds. we have to think a bit long term. thank you very much, everybody. >> you have been watching president obama, a news conference in the east roo

he toured an alcoa aluminum factory, a plant he says stands as a model of innovation and persistencethe face of a battered economy. he also defended his record on the economy. >> the problems that we developed didn't happen overnight, we're not going to solve them overnight. but we will solve them. >> sarah palin was also in iowa today for the premier of a documentary about her. the former alaska governor did not commit to a presidential run and the tea party candidate michele bachmann kicked off her presidential campaign yesterday in waterloo, iowa. she happened to misspeak. she said that she had the same spirit as waterloo native john wayne. the actor is actually from winterset iowa. serial killer john wayne gacy is from waterloo. >>> fire officials in new mexico say today is a make-or- break day for a wildfire that is threatening a government nuclear facility. officials at the los alamos national laboratory in new mexico say radioactive materials at the lab are safe and no contamination has been released. the fire has now spread over 93 square miles and is burning near the edge of

i was in alcoa in iowa, one of our most successful companies. they took a big hit during the recession but still invested $90 million in a plant in makes air plane wings and parts for automobiles. they bounced back and hired back all its people and increasing market share. just because -- we know we've got to get control of our deficit. there are some things that are not going to solve all of our problems but can make progress right now. and the question is whether or not democrats and republicans are willing to put aside the expedience of short-term politics in order to get it done. and these folks are counting on us. they are -- they desperately want to believe that their leadership is thinking about them and not playing games. and i think that if tall leadership here in washington has the faces of -- and the stories of those families in mind, then we will solve this debt limit issue. we will put in place steps like a payroll tax cut and infrastructure development. we'll continue to fund education. we'll hold threw to our commitment to our sen

he will tour the alcoa aluminum plan in davenport during a trip the white house says is aimed at thepolitics. still, the visit comes as republican presidential candidates step up their campaigns and attacks. >> we cannot afford four more years of barack obama. [ applause and cheers ] >> reporter: in waterloo, iowa, tea party favorite michele bachmann formally announced her candidacy monday, and tonight another tea party favorite, sarah palin, will also be in iowa. her political ambitions are still unclear. but she is attending the premier of a documentary about her career. >> reporter: whether you're a candidate or potential candidate, iowa is considered a key step toward the white house. not only is it a swing state, it's also the first state to cast votes for the gop nomination. texas congressman ron paul and former senator rick santorum are expected to use the shaky economy and high unemployment as ammunition against obama. he hopes highlighting the success at this plant will help defend his policies. >> our business has continued to improve since the economic downturn. >> reporte

the president will be showing that today at alcoa. a very traditional metals manufacturer, but they are also high tech. high tech. there is this high tech sector out there, circuit boards, optical electronics. we did not care where the production occurred. as a result, we got left behind on a lot of the latest and greatest invention in robotics. having an approach that involves academic institutions, manufacturers, as well as the federal government, to provide the glue for it, will be beneficial for firms across the manufacturing spectrum, from the small mom-and-pop, to the large multinationals. host: scott paul, the founding director for the alliance for american manufacturing. you can join the conversation. republicans, 202-624-1115. democrats, 202-624-1111. independents, 202-624-0760. we are on e-mail at journal@c- span.org and on twitter, twitter.com/cspanwj. twitter.com/cspanwj. let us talk about what has happened over the past couple of months. shownacturing jobs have sai some growth. guest: of a lot of manufacturing has done we

i was in alcoa, in iowa, one of our most successful companies. they took a big hit during the recession, but they invested $90 million in new equipment in a plant that makes airplane wings and parts for automobiles. and they have bounced back. they have hired back all their people and our increasing market share because they made those investments. well, just like a company like akko, america has to make some investments. -- alcoa, america has to make some investments. we have to get control of our investment -- our dess odeficit. there are some things that are not going to solve all problems but can make possible -- progress right now. the question is whether or not democrats and republicans are willing to put aside the experience of short-term politics in order to get it done. these folks are counting on us. they desperately want to believe that their leadership is thinking about them. and not playing games. and i think that if all the leadership in washington has the faces and the stories of those families in mind, then we will solve this debt

i was in alcoa in iowa -- one of our most successful companies. they took a big hit, but they still invested $90 million in a plant that makes airplane wings and parts for automobiles. they bounced back and have hired back all of their people and our increasing market share because they made those investments. just like a company like alcoa, america has to make investments. we know we have to get control our deficit. there are some things that are not going to solve all our problems, but can make progress right now. the question is whether democrats and republicans are willing to put aside the expedients of short-term politics in order to get it done. these folks are counting on us. they desperately want to believe their leadership is thinking about them and not playing games. i think if all the leadership here in washington has the faces and stories of those families in mind, then we will solve this. we will put in place steps like a payroll tax cut and infrastructure development. we will continue to fund education. we will hold true to our commi

he's visiting an alcoa victory in davenport. michele bachmann -- factory in davenport. michele bachmann announced her candidacy. earlier she went on television and answered criticism that she's made false statements about president obama. >> of curse, they were misspeakings. that happens. i wish i could be perfect every time i say something, but i can't. >> reporter: another candidate, sarah palin, is generating a a lot of buzz in iowa. she and her huz are going to a -- husband are going to a career direct 1 document -- career documentary. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> okay. alison, thank you. >>> 7:15. well, president obama's campaign staff is working hard to attract big spending coners -- donors for his reelection campaign, you recall back in 2008 about half of the $745 million contributed to the campaign came from small donations. this time around, the president's staff is also going after more wealthy donors. they have also launched a contest for people willing to contribute $5 to the president's campaign. they are ente

well, just like a company like alcoa, america's got to make some investments. we know that we've got to get control of our deficit. there are some things that aren't going to solve all our problems but can make progress right now. and the question is whether or not democrats and republicans are willing to put aside the expedience of short-term politics in order to get it done. and these folks are counting on us. they desperately want to believe that their leadership is thinking about them. and not playing games. and i think that if all the leadership here in washington has the faces and the stories of those families in mind then we will solve this debt limit issue, we will put in place steps like a payroll tax cut and infrastructure development, we'll continue to fund education, we'll hold true to our commitment to our seniors. these are solvable problems. but it does require us just getting out of the short-term and frankly selfish approach that sometimes politics breeds. we've got to think a bit long-term. thank you very much, everybody. [captioning performed