think about an oil spike again at some point, maybe next year.more prepared to adapt to the next oil spike than the last one or the one before that or the one before that? one compelling alternative that we have in abundance in this country, as you notice, is natural gatt. we have talked a lot about that, and i confide personally am torn on the issue, and i'm the first to say i'm not adequately informed to exercise any particular judgment, but when i'm in discussions with t. boone pickens and others, it's easy to understand the argument about the clean-burning domestic energy source, but then when you start dealing with the individuals at extraction, or the actual residents in places like pennsylvania is their patriotic -- our specialist is ben grumbles, former assistant administrator for water for the epa. >>> are we any closer to know whether the disruptions in the water supply, the disruptions in the deepwater drilling, the potential toxicity above the surface which seem to be the three areas of debate is being resolved? is anyone even resolvi

bay area bike along with others turned out to protest a recent spike in violent protests. today they marched along international boulevard. that was close to wear a three year-old child was shot and killed in a drive-by shooting. demonstrators say they are fed up. >> when people talk about motorcycle riders a look at us and an it perspective but we are not. we're taking our city bag. and those in the community is doing the violence, which are not going to except it. >> there have been more than 70 murders and oakland so far this year. >> change our and the judge for tall were convicted of espionage and around. there received a eight year sentence on saturday. today their families said they were encouraged by comments made by the wrong for a minister who said the two men would likely be released. they have filed an appeal. there were arrested two years ago after crossing into are on from a rock. they claimed that they were lost while hiking. >> it was a great weekend. fog in the morning, fog in the afternoon and fog in the evening. there were some breaks in sunshine but it

f you look historically you typically don't have another spike for quite some time. that's generally the pattern. also if you look at forward equity returns, from fire spikes in volatility and looking back over a bunch of market cycle-- cycles you can see the 4 to 12 month equity return positive. >> you've given a lot of reasons to be positive. we thank you for that thank you for coming on the program. >> good seeing you, thank the. >> we've been speaking with jeffrey applegate, chief investment officer rat morgan stanley smith barney. >> tom: still ahead-- we go beyond the scoreboard. our look at the business of sports heads to fantasy land and the millions of dollars spent every year on fantasy sports. moody's investors service thinks america is struggling to avoid another recession. it puts the odds of dipping back into recession at one in three over the next year. in light of the debt debate, the s&p u.s. credit downgrade and stock market volatility, moody's says its near-term outlook has fallen sharply in the past month. it now sees the economy growing at about

in -- it would be sort of naive to think that will not see some spike. these folks have a 77% recidivism rate. so they have not been very successful in their attendance -- attempts to renter -- reenter in the past. we believe there is a part better likelihood that between the services we can provide services that adult probation can provide, especially their partner agencies in the city, that we have an opportunity to provide better services for this population. so that over time, and i do not know what the magic time would be, but over time, you would start seeing these people be more successful at their reentry into less likely to agree offend. but we do know that even with programs that the sheriff has had in place for 25 years and the success we have had in those areas, we still have people that recidivate they come out of the county jail system, and we know that some people require more than one attend in order gibbs -- more than one attempt in order to get their life back on track. so we think there will be a spy, an increase in sentenced people, j

treasury prices spiked, briefly dropping the benchmark yield to its all-time record low. markets seesawed back and forth six times until stocks made a steep and steady climb before the closing bell. oil futures swung higher, thanks to a new report showing crude inventories fell the most since june. >>> the day's dramatic swings saw apple pass exxon mobil as the country's most valuable company. aol stock lost a quarter of its value, as investors showed impatience about the company's transformation. >>> and the notorious hacker has apparently set its sights on facebook. any youtube video, anonymous has threatened to destroy facebook, on november 5th. >>> a walkoff winner for texas. and a winning streak marches on. >>> plus, a big slip-up by the twins at the worst possible moment. and it leads to a painful loss. >>> welcome back to "first look." i'm lynn berry. and players love doing well against their former clubs. and last night in new york, former yankee, bobby abreu had a great time. here's nbc's fred roggin. >> less than two months left in baseball's regular season. and

you could spike in that period. first quarter or second quarter.will happen next year. >> boone, thank you for stopping by. >> you can't don't care about me on this reduction in our credit rating? >> i do. what do you think? >> let me tell you, it is the worst performance i have seen for congress to go through there and give you a trillion write down. s&p told you what was going to happen. don't ever crowd a professional that has protect credibility and s&p had to protect their credibility. it was a downgrade and a sync, h. get an energy plan for america. >> okay, thank you, boon, boone pickens. as boone pointed out. we'll talk to john chambers hidded had of the s&p committee that was a wrenching call to downgrade the credit rating. the message from s&p not just the size of the debt plan but the speed of the cuts. lizzie, what was the issue? >> it was long-time fiscal outlook for the u.s.. s&p said we are not considering over the 10 year time frame. s&p could move to downgrade to double a status in two years time. behind the scenes, there was an be

the nasdaq spiked 124. taking a look at overseas trading this morning, in tokyo the nikkei grew 94 points, and in hong kong the hang seng rose 452. >>> as we reported earlier, wall street welcomed what little relief the fed had to offer yesterday, and markets overseas this morning followed suit. asian shares bounced back overnight as investors there drew comfort from the fed's promise of low interest rates through 2013. however, as traders continued to buy up gold, seen as a safer bet, it's clear many are still concerned about how long this relief rally might last. one big reason for that caution? the central bank's sobering language about the u.s. economy, which it expects may stay weak for another two years. likely the reason why the fed also left the door open for more stimulus down the road. >>> investors' initial reaction made for a wild day of trading. treasury prices spiked, briefly dropping the benchmark ten-year yield to its all-time record low. markets seesawed back and forth six times until stock

. >> and it's played by spiking it and to make the rattle sound and also creates this. (applause). >> (speaking spanish) sorry. (speaking spanish). >> this is the kahita and it is created as the -- i don't know that word. how do you say that? the piggy bank. you know where the boxes and the churches collect money? yeah. this is the original he here. yeah. >> (speaking spanish) (laughing) (speaking spanish). >> this instrument is called c carete and with the right hand and the left hand and open and shuts in a rhythmic time. >> (speaking spanish). >> so this instrument is called sen sero but it's actually a cow bell. >> (moo). >> it was made out of material. >> (speaking spanish). >> but for the african and any instrument that create a rhythm or a sound will become an instrument. (speaking spanish) (applause). >> (speaking spanish). >> these are the spanish influences. >> (speaking spanish). >> they adapted to the style of this type of music (applause). >> (speaking spanish). >> these are just simple spoons, kitchen spoons. (applause). >> (speaking spanish). >> and here

drive * spiked from a 17-16 minutes of live up to 25 minutes.d as for 5 minutes of your drive time heading down the sfo. here's a check on weather. >> as temperatures will actually warm up to date. tomorrow is one the temperatures are expected to spike. >> rivalry on the football field turned ugly. fides broke out during and after the forty- niners and traders preseason games. in a 24 year-old man is in critical condition after being shot several times in the stomach. he was wearing and anti 49ers sure to. and another shooting a 20 year-old man was shot after the game and treated for less serious injuries to his face. no arrests have been made. then there were scuffles, fiats and a beating in a bathroom. the man was beaten up and knocked unconscious. here is a description of the man they're looking for for the beating. >> keeping eyes on wall street. the dow shot up over 180 points. steve massocca from with the securities is joining us. >> we had an early rally that was inexplicable. all eyes will be assumed to the speech on the twenty sixth fro

to remind colleagues that if we fail to act, most economists believe we would face an interest rate spike and for everyon percentable point increase in interest rates, we would add $1.3 trillion to deficits and debt over ten years. mr. president, if there was only a 200 basis point increase, that would wipe out all of the ficit reduction that is in this package. so colleague need to keep in mind the consequences of our actions and how critically important it is to prevent that interest rate spike. in addition, david beers of standard & poor's global head of sovereigratings said in an interview on cnbc on july 26 the following -- "to avoid a u.s. credit rating downgrade, the s&p wants to see bipartisan debt-reduction effort." mr. president, he said specifically, "we will measure this mter on a number of pameters. one is, is it credible? and credibility, among other things, means to us that there has to be some buy-in across the political divide, across both parties, because politics can and will change going forward. and if there's ownership by both sides of the program, then that would gi

they're similar to the ones used to help you relax in the sub, but they're being spiked. police are wore yesterday kids are catching on with ads on facebook. we bring in jean elle who joins us. how common is this, jean? >> reporter: a police officer says this designer drug has caused problems on the east coast and believes it's arriving in the bay area. for about $20, you can pick up a packet of what's called bath salts. but if you snort it or smoke it, you're in for a dangerous high. packets of bath salts may seem harmless, but police say there is nothing relaxing about these salts when snorted or smoked. >> it's a synthetic compound in a bath salt that has similar effects to meth amphetamine and ecstasy. >> reporter: the police department is issuing an alert after seeing this facebook post. we stopped by that shot and several others in up to but couldn't find any for sale. but officer david blake is worried the bath salts are in the commune tichlt teenager chase crow says he hasn't seen it yesterday. >> i haven't seen anything yet. i'm sure eventually some will have it.

do you see consumer demand spike for everyone is things or slow down? >> we see them slow down in anticipation of the event and spike afterwards and i'm certain we can see a lot of demand nor emergency kilts coming up. >> how does price grabber work in terms of back to school shopping? what is the experience like? >> well, it's a free service where they can come to the site and get expert reviews on tens of millions of products and compare prices for those products across the network of over 10,000 merchants. >> what do you see right no in terms of people actually spending money? >> absolutely looking for value. so, looking for deems, looking for bundles. it's not just lowest price. it's being know doesed on their needs and finding ba ining valu. >> your consumer data shows a lot of back to school shoppers, 48% plan to spend $250 per child this year. that's 25% plan to spend more than $500. tell me what this season looks like for retailers and what people are spending their money on. >> at first, retailers overall, it's a flat issue. the expectations ar

they have slowly digestible carbs to help minimize blood sugar spikes, which can help lower a1c. glucerna products help me keep everything balanced. [ golf clubs clanking ] [ husband ] i'm good! well, almost everything. [ male announcer ] glucerna. delicious shakes and bars. helping people with diabetes find balance. [ male announcer ] glucerna. delicious shakes and bars. [ bedistracted driving. ♪ [ disco ] it accounts for 25% of car crashes. and it's why the best agents help safe drivers get a lower rate. - exactly. - oh! [ announcer ] we are insurance. ♪ we are farmers bum-pa-dum, bum-bum-bum-bum ♪ >>> where's the leadership in washington? our long-term debt is becoming the next generation's problem but with a lack of leadership at the top, how do you inspire future leaders to solve these problems? let's ask someone who teaches leadership, deepak chopra, author of "soul of leadership" at the kellogg school of management at northwestern university. welcome to the program. >> thanks for having me. >> this recent debt debacle, many questioning where the leadership is coming from a

the credit rating there is talk about spiking interest -- spiking interest rates and plummeting 401(knted, is it possible? kimberly guilfoyle and former prosecutor joey jackson defense attorney and former prosecutor. welcome what can people do? tomorrow morning we are going to wake up and it is going down, maybe. >> i don't know if you should spend your extra money calling your lawyer for that consultation it can be tough to sue these guys. i don't know if you are going to get the money out of them. there's a little thing called the bill of rights in the first amendment this is public opinion, first amendment protected, so you couldn't necessarily go after standard & poor's. there's been new developments, maybe there's a window. >> it is still difficult. there is the bill of rights watch the courts have done they've said these agencies when they make these edicts about credit ratings it is first amendment protected. we are seeing regulatory measures taken lessening the significant of the rating agencies. they are pulling back 9 credit ratings and indicating that other methods are -- n

they have slowly digestible carbs to help minimize blood sugar spikes, which can help lower a1c. glucerna products help me keep everything balanced. [ golf clubs clanking ] [ husband ] i'm good! well, almost everything. [ male announcer ] glucerna. delicious shakes and bars. helping people with diabetes find balance. >>> first it was the bass basketball brawl, and now this. >> imagine if you are a fan of a soccer match and you hear gun shots filling the air. >> i am ducking for cover. >> yeah, it's video, and listen for the gun shots. the area is known for being violent and levels of drug cartel crimes. three vehicles with armed men failed to stop of a military check point out side the stadium, and the soccer match was stopped and cancelled for the day, and the mexican president there says nobody was fortunately killed, but what a scary moment for everybody involved inside the stadium, and the players not knowing where it's going. >> what is happening in the sports world? >> that's a whole other statement. we will transition to college football. a bar fight that landed several ls

. >> oil prices, going to spike, spike wildly? >> no, openly, oil prices will probably go down a bit if things are stable. because that would mean the roughly 1.5 million barrels a day that libya can produce will come on the market. that will be a reassuring signal. >> so tonight give me a sense -- you, you've met gadhafi, you spent time with him. what about him are you thinking about tonight? >> well, what's so interesting about t dhafi was his range. he can be the flamboyant guy who stood up in the u.n. and gave basically an off-broadway performance. or he can be a guy who is incredibly rational, controlled and reasonable. you don't run any country, even libya, for more than four decades by just being a nut. he was reaeay capable. here he is, at the end of his days, this is not the way he must have planned it. this is clearly not the way he wanted it. he wanted to pass power on to his son. my hunch is this is one awfully unhappy man because this is not the way he thought it would end. >> thank you so much, richard haass. >>> and

they have been neglect in the manner in which they have abused and illegally spiked their pipe.eporter: 8 people died here and 38 homes were destroyed a year ago. next week tuesday the ntsb will issue the final report on the probable cause of the pipeline failure. in san bruno, abc 7 news. >> experience is talking about hurricane irene on the east coast of course but here now with our weekend forecast in the bay area. >> just calm warm in the bay area with a good night. >> getting even warmer. warmed up why yesterday level and warmer this weekend. here's the east bay camera in emeryville looking at the traffic flow. you can see a little hypothetical of moisture in the air there. marine layer working its way locally across the bay. not very thick over that side of the bay at the moment but it is here on this side and was this afternoon as the satellite close-up image shows and we had temperatures today about 3 to 6 degrees generally warmer than yesterday so a little warmer in the i hope lapped location. here's a lack at the high today in the inland east bay. high pressure in the

. >> reporter: now, the owner explains that while the spike in gold bring in more sellers, doesn't bring in more buyers, not good for business. coming up at 6:30 if you're talking about selling your fine gold jewelry, we'll tell you how to avoid getting scammed. >> thank you very much. >>> we're happy to report the young baseball fan struck by a hit-and-run driver is kbroopg. upgraded ryan from critical to serious condition. he was visiting the city to watch phillies play the giants at at&t park last thursday. as he was leaving the game the 9-year-old was struck by a hit-and-run driver. in a statement released, his family says, in a matter of days, he has gone from giving a thumbs-up or thumbs down response to speaking in sentences for the first time this morning. meantime the hayworth man charged, andrew vargas will appear in court thursday. >>> the wife of an east bay man known for helping the homeless says she will continue his work. lolita powell made the promise during a memorial service last night. he was better than known as brother john. gunned down in oakland in a drive by shoot

richmond has seen a spike of violence. there was nine homicides in july. now there have been more murders, 22, this year. than all of last year. the relatives of the woman who was killed gathered here at the scene. they are hoping for answers. they tell us the violence has got to stop. >> we need to do is get the youth back, like the boys and girls club. you know, more things for the kids. they are out here running around. you don't know what is going on. the gang violence, all that is happening. >> the relatives of the woman tell us she was a good person. they saw her yesterday at church. police have not made arrests at the scene. they don't know the motive behind the shooting and they are trying to figure out if it's gang related. they say they are stretched so thinly right now, but they're doing their best. live in richmond, amy hollyfield, abc7 news. >> amy, thank you. >>> 6:03 now. in oakland, police are investigating a shooting that happened late last night outside of kimball's nightclub. police were called to second and broadway just before midnight

it has been dipping and diving and spiking up and down all day long.dow that has taken quite a dip, and then ten minutes ago was down 200 officer yesterday's huge colossal fall of 500 points. how do you read this? yesterday analysts said it was fear driving the markets down. what is the explanation today? >> i think it's a lot of mixed emotions. listen, there is nothing rational about stock markets and pricing the stocks, and you know, there are true emotions that drive investors, fear and greed, and it doesn't take long to go from greed to the fear mode. and folks are just kind of fed up, and investors, like consumers who are saving more and like corporate america that is fleshed with funds in their treasuries, i think investors basically are just taking risk off the table because there is not a lot of clarity and there are just too many unknowns out there, and those are the two things that investors really have trouble dealing with. we can deal with almost anything, good news, bad news, but when you have so many unknowns and so many problems, sometim

. >> and it's played by spiking it and to make the rattle sound and also creates this. (applause). >> (speaking spanish) sorry. (speaking spanish). >> this is the kahita and it is created as the -- i don't know that word. how do you say that? the piggy bank. you know where the boxes and the churches collect money? yeah. this is the original he here. yeah. >> (speaking spanish) (laughing) (speaking spanish). >> this instrument is called c carete and with the right hand and the left hand and open and shuts in a rhythmic time. >> (speaking spanish). >> so this instrument is called sen

maureen kelly spoke to richmond police and found out the reason behind the recent spike in violence. >> the fatality is still not known to but police say that this happened well known for violence. and this is known as the iron triangle district. highlighted in yellow. for over 20 years gang violence has been an issue. >> every couple of years we see a spike and young people are involved. they probably have no idea what is happening with this game violence anyway. it is even more disturbing because it is so inconsequential. with perceived to disrespect. people interacting on facebook. that tends to shuffle things and be a catalyst. >> they have formed a car taskforce with a contra costa county and the need help with the community. >> the mentors, the family members, the people of reach these people. so the message of non-violence can get through to them. maureen kelly, kron 4 news. >>pam: this woman leaves b five for children . >> what did she do to you? leaving the four children behind. what did you take herbalife? why? there are two minutes-wide to take her life? >> why? >> and the

force there of publication on my political magazine spiked in london to talk to be a little bit earlier on of course an awful lot more coverage full coverage on our website r.t. dot com of everything that's going on across the middle east all the discontent there for the past six months or so if you want to avail yourself with all the details. three years ago georgia launched an attack on the people of the small republic of south a five day war in which georgia tried to reclaim its old territories claimed hundreds of innocent lives next artie's medina cochon of in the south are set in capital city still struggling to come to terms with the losses. attacks suddenly around midnight and the first trikes happen hand of the russian piss keeping base and now what you can see behind me what's left of the base there were around two hundred fifty soldiers and they forced. the russian troops to iraq russia sent in troops to protect the republic citizens many of which were russian passport holders and we also were hiding in basements and bonet out buildings overhand twenty three soldiers were kill

oh for more on the situation in libya by patrick hayes a reporter for the online magazine is spike lee joining us live from london mr hayes now a libya's new government has revealed its new constitution it's one that is trying sharia law as its foundation now considering the experiences of iraq and afghanistan just how democratic and corruption free can such a state be. well actually if you look at the constitutional charter yes it does say that it will it will recognize a state religion. and also implement sharia law but actually in general if you go through the constitution it does actually make various claims saying it will safeguard freedom of expression equal opportunities and make sure that people all he wants muslim will actually be fine and able to pursue a prosperous life in libya that's not the aspect i'm so worried about with this and i think there is some scaremongering about the fact that the libyan government may fall into shariah hands now with the muslim brotherhood which actually i think speaks to a kind of western if left to the libyan people themselves to determine t

so much so that the index measuring fear on wall street spiked to its highest level in over a year. why? well, there's overwhelming proof that the economy is weakening and even more alarming, there are few, if any options left, to fix it. it's a mid-summer selloff, as wall street and main street are seriously worried about the prospects of another recession. just how worried? in less than two weeks, the market has erased all of its gains for the year. >> tough day on wall street today. >> today's massive selloff on wall street. >> stocks around the world take a major tumble. >> reporter: in total, some $940 billion worth of investor wealth wiped out since july 21st, while the average 401(k) saw a loss of $11,736. since last friday, wall street has been bombarded with a slew of bad news. the first, a surprising slowdown in economic growth for the first half of the year. the economy all but screeching to a halt with virtually no growth in the first quarter and an anemic 1.3% growth in the second. >> the u.s. economy is losing momentum. it shows up in the numbers. investors see those n

that is a spike in yield and spikes up what everybody in this room pays on the credit card. >> mike:f a person has a rate and fixed it is not going up. >> probably not but if you want to get a new one it costs more money. >> mike: buy a car dead and don't wait until mond and lock in the rate if you can. >> or spend all of your money. >> mike: i think a lot of people think come monday if they have a home loann it is a 30 fixed it is six percent >> it is locked in. >> unless it is an adjustible rate and there is a time frame. >> there is my caveat. read the fine print. >> mike: how many of the audience read the fine print. >> you should. it is hard to get through. >> mike: a hundred percent of the audience. >> sometimes the fine print said it is based on the usa keeping a triple a rating . two rating agencies say it is triple a. moody and s&p 500 say double a plus. do you go with the higher or lower . why monday will be a being day and maybe scary day in the markets and maybe a nonevent . the general consensus that stocks are going to trade off. they said one of the reasons we are down

. >>> china has reported a sudden spike in inflation in july with consumer prices rising of their fastest pace in three years. the national bureau of statistics said on tuesday the consumer price index was up 6.5% compared to the same month last year. the increase was even larger in june, when the index rose 6. 4%, the first time it had lit the 6% level in nearly three years. overall food costs were 14.8%, up from last july, with pork prices soaring by over 56% and eggs by nearly 20%. both foods are essential ingredients in chinese cooking. >>> consumer prices in china have been rising since last autumn and people are particularly concerned about higher food prices. inflationary pressure are persisting in china, despite the government's monetary tightening measures. central bank has raised its key interest rate five times since october. >>> u.n. secretary ban ki-moon has asked japan to send troops to conduct civil engineering work in south sudan. at a meeting with japanese defense minister toshimi kitazawa in tokyo on tuesday, he thanked japan for its peacekeeping mission in haiti followi

that is a spike in yield and spikes up what everybody in this room pays on the credit card. >> mike:f a person has a rate and fixed it is not going up. >> probably not but if you want to get a new one it costs more money. >> mike: buy a car dead and don't wait until mond and lock in the rate if you can. >> or spend all of your money. >> mike: i think a lot of people think come monday if they have a home loann it is a 30 fixed it is six percent >> it is locked in. >> unless it is an adjustible rate and there is a time frame. >> there is my caveat. read the fine print. >> mike: how many of the audience read the fine print. >> you should. it is hard to get through. >> mike: a hundred percent of the audience. >> sometimes the fine print said it is based on the usa keeping a triple a rating . two rating agencies say it is triple a. moody and s&p 500 say double a plus. do you go with the higher or lower . why monday will be a being day and maybe scary day in the markets and maybe a nonevent . the general consensus that stocks are going to trade off. they said one of the reasons we are down

. >>> violent crime is down over all for the year but it has spiked this summer. the mayer mayer and police chief held a meeting to tell the community what they are trying to doubts it. kron 4's jeff bush was there. >> reporter: he believes most of the crimes in east palo alto has been the work of gang members. he says fidel silva and jaime cardenas are responsible for a murder. he said they left for colorado. the chief said that they came back and committed two more murders. >> the murder of hugo chavez and we expect him. we have three people that we tie to two maybe three murders. >>> the community has been providing police are more information and that has been a big part of solving crimes and they identified hot spots in the city and increased patrol. they enhanced investigations but also contacted gang members and let them know about city programs to get them out of gangs and they are trying to get closer to the community and get feed back. >> we want to hear from the community what we are doing right and what might help them. >> reporter: information that wi

. >>> more than two dozen police officer rehired as a spike in violence hits oakland. the rehired officers will patrol the most dance our parts -- dangerous parts of the city. >> reporter: they are just a few of the 71 homicide victims in oakland this year. the city is on track the surpass last year homicide total and record another final year. for those who live here an end to violence can't end soon enough. 13-year-old. 28 months old. these are babies. we're losing babe -- babies here. she's glad oakland rehired some of the police officer but in order to be effective the officers have to build a relationship with the communities. >> we need law enforcement, we need trained people to get our community under control. they have to do it the right way. more community activities with the police department involved to build the trust. they need to build the trust first. oakland mayor said forces will begin this weekend. those two areas record 92% of the city as homicide this year. the mayor said in all 32 laid off police officer will be rehired by the end of summer. >> we'

which spiked up over $1700 for the first time ever. like you heard, a lot of turbulence ahead. got to take it day-by-day or with the stock market minute by minute. reporting live in downtown san francisco, leslie brinkley, abc7 news. >> thank you. >>> well, stocks in greece plunged to their lowest level in 14 years today. the general index on the greece stock exchange closed to lowest level. leslie talked about the gold prices. they skyrocketed. price for up on of gold rose to $1700 in early trading. gold doubled in price since start of 2009. it typically increases in value as the appeal of the u.s. dollar weakens. >>> another major story we're following today. san francisco mayor ed lee made it official this morning, he is running for office he was appointed to. >> rivals in the race quickly issued welcomes and warnings. >> abc7's eric thomas is live with the latest. eric? >> as ed lee officially entered the race. there were four key words he kept saying over and over again. i've changed. >> i'm ed lee, mayor of san francisco, i filed papers to file for the mayor's ration this

this is a look of your seven day forecast tomorrow we will see a spike in temperatures and low 90s in land nice warmup in store for us loss of sunshine as we wrap up the work week time now is 4:20 a.m. last checked traffic >> no problems to tell you about in toll lane number 16 on the bay bridge it was just a stall and is clear from the traffic lane traffic is moving well from all three approaches no overnight construction it has already been cleared up san mateo bridge traffic out towards foster city nice and easy ride southbound 101 we have overnight road work at the north tower it is closing a couple lanes until 5:00 a.m. >> a former san francisco giants in labor has been are arrested and embezzling millions of dollars he has been charged check with a wire fraud heat she amended but she took 600,000 from two giants players paychecks they found some other suspicious deposit killing a 1.5 million her base salary was $80,000 and was eligible for bonuses she used that money to buy fancy cars and a new home to workers are not being treated for injuries at an amusement park where the cra

you could spike in that period. first quarter or second quarter.ll happen next year. >> boone, thank you for stopping by. >> you can't don't care about me on this reduction in our credit rating? >> i do. what do you think? >> let me tell you, it is the worst performance i have seen for congress to go through there and give you a trillion write down. s&p told you what was going to happen. don't ever crowd a professional that has protect credibility and s&p had to protect their credibility. it was a downgrade and a sync, h. get an energy plan for america. >> okay, thank you, boon, boone pickens. as boone pointed out. we'll talk to john chambers hidded had of the s&p committee that was a wrenching call to downgrade the credit rating. the message from s&p not just the size of the debt plan but the speed of the cuts. lizzie, what was the issue? >> it was long-time fiscal outlook for the u.s.. s&p said we are not considering over the 10 year time frame. s&p could move to downgrade to double a status in two years time. behind the scenes, there was an behi

you have a spike in yields and spikes what everyone pace on their credit cards. >> let's talk about thatif a person has a rate and it's fixed, it's not going to go up. >> probably not but if you want to get a new one, it will cost a new one. >> get your credit today, buy a car today. don't wait monday. buy the home today and lock in the rate, if you can. >> spend all your money. >> but i want to be serious about it because i think a lot of people think come monday, if they have a home loan at 6%, it's a 30 years fixed and they are going to say it's not, it's 6%. >> but it's not. it's locked in. unless there's an adjust i believe rate. and probably then there's a time frame. >> read the fine print. who knows what it's going to say? >> how many people in this audience ever read the fine print with anything like that? >> you should. sometimes it's hard to get through. >> i haven't either. >> it's not easy to understand but sometimes it says it's based on the isa keeping a triple a rate being. and two agencies say it's triple a. s&p is saying it's double a plus so it's a split rating. do you

the company used only 1% or 2% in standard solar panels and when prices spiked that gave them a big advantage. >> investors and entrepreneurs might have misappropriately thought the price would stay high but like any commodity the price dropped and the price fluctuates. and they were caught in that vice in having to keep up with chinese and american vendors who were riding the price of silicon low. >> a kilogram costs as much as $475 in 2008 but it has fallen to $51 today or even $45 in the futures market. as part of the bankruptcy filing they say they will try to put the company up for sale or license its technology, however we're told that they are not likely to be compatible with what other solar companies are using. they say to expect the bankruptcy to trigger a solar industry shakeup. other companies who now have difficulty getting capital from venture expected a lifts will probably try to digest what happened at the company. >>> president obama is going to unveil a new jobs plan a week from tonight before a joint session of congress. today he urged congress to pass an extension of the f

78 in santa rosa 78 in napa or tomorrow and this is the look of the seven day forecast at 10 degree spiken land. doua we will keep it somewhat mild as we head into the weekend that is your weather now traffic >> something unusual at the bay bridge for the past 20 minutes a backup at the cash lanes metering lights have not been activated yet where a lot of people and dissipating trouble at the bart stations. it is likely within a few minutes we will see the fast-track lanes to fill in as well so far no problems going across the span the san mateo bridge when their right side is westbound traffic volume building more on the east bound side golden gate bridge southbound 101 volume building in from marin >> new construction on highway 1 in pacific out what caused traffic delays caltran is reducing the highway to one lane of traffic it all begins this morning it will go down to one lane of traffic from 7:00 a.m. when until debris in the afternoon every day for this entire week when they are building a new concrete wall above the southbound lane to control rockslide and they want to fix >> a de

police say they saw a spike in arrests saturday. you remember after the 49ers raiders game at candlestick park. >>> breaking news involving a train that left the bay area. also, a dangerous game of chicken caught on tape. this involves a teenager and a fast moving train. >>> tensions still rising between bart and some of the bart protesters. >>> good morning. there's a huge backup approaching the bay bridge because of the crash on the upper deck of the bay bridge. we'll tell you about this coming up. >>> we have breaking news, an amtrak train carrying passengers between click and the pay area hit the tracks and derailed in nebraska. >>> the california zephyr flew off the tracks hours after leaving the bay area headed for chicago. >>> police in australia have released this video of a teenager playing chicken with a high speed train. hoe ran right in front of the train, jumped on to the station platform the train clipped him. he was also ordered to perform community service and right a letter of apology to the train's driver. >>> san

. >> san jose ended the deployment of homeland security officers to help battle a spike in violence. 14 people had been killed in the first 6 months of the year. san jose has not had a gang-related himz since june 14th. >> power setback on for residents in palo alto after a power line came down. downed power line knocked out power on east bayshore road. not only that appliances were damaged by a power surge. >> reporter: just talked to a pg&e spokesman and there are 69 customers still in the dark the rest have power going back to their homes. maybe not inside their homes because this surge knocked out some of the pg&e meters. also it tripped electrical circuitry. >> nicholas showed us his walk-in refrigerator and cost him hundreds of dollars in spoiled food. >> the surge could cost him thousands if it burned out the refrigerator itself. >> i have to look for a specialist. >> the power surge happened last night around 10:00 when a branch snapped next to highway 101. it took three wires sending 400 volth to more than 200 customers. >> a lot more electricity than normal comes into your

late with the ability to dynamically spinoff new instances of server applications in response to spikes in demand. the general concept called cloud bursting allows you to do that across multiple cloud vendors, so you could do it across amazon and various other people say you could get geographic diversity and so on. people doing this extremely well, for example, would be netflix. many of you in this room i'm sure use the netflix. what they did is dynamically throw what is this is as more and more people click on movies that they want to watch. so then what they are doing is as the need scales, they then have the ability -- they pay them, and, of course, it drops off as soon as the need drops off as well. so they end up essentially paying for average demand. the technology is widely deployed around the world. >> as kind of a follow-up, individuals often use cloud services for backing up their computers. are we about to see people using their computers to back up their clout services to guarantee that they hold on to their data? >> you are at the tip of a very interesting iceberg. go 100,