next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential loan, i use the standard five c's of credit. the first one is character. what we are looking for is a minimum score around 640. we would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. if we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may be. it cannot be, i did not want to pay that payment any more. the second c, conditions. basically, how precise will the money be used? we are looking at a business plan. when you look at a business plan, that is just a start up. we are looking to see where there will be the need for lending. if you are an existing busi

good for wells fargo. would love to hear that. >> that combined with the volunteer efforts and the other assistance they give us is really invaluable. >> of course, if you'd like to make a donation, you can still do that. you can make a donation online. of course, happy holidays and merry christmas to you. >> thank you so much. >> back to you. >> very nice. thanks. >>> thousands gathered over the weekend to help and eight-year- old pennsylvania girl battling leukemia for filling her dying christmas wish. >> and that wish was a street full of carolers. nearly 10,000 people gathered to help make her wish. she is also affectionately called laney. it came true. she was too weak to see her wish come true, but she said she heard it and she felt it. >>> santa shows up at an aquarium in minnesota. and it was the man behind a beer that made it an unforgettable day for for young kids. we will explain coming up. >> and a reminder if you've got a consumer problem or a question, give our hotline a call. volunteer stand

hannah williams was working when the cotton ball bandit hit the terra linda wells fargo in october. >> he just walked in and handed the teller a note and walked out. >> i feel like with our last teller that got robbed if it was the same person and he did have a gun this time, i feel like she did her job exactly the way she was supposed to. she kept everyone safe. >> reporter: now, there are similarities between today's suspect and the cotton ball bandit. today's suspect passed a note and struck on a wednesday. the cotton ball bandit almost always strikes on a wednesday or thursday. again, right now investigators say they do not know if today's suspect is indeed the cotton ball bandit. today's suspect did, however, undergo surgery for nonlife threatening wounds and police are hoping to release his identity sometime tomorrow. reporting live from san rafael, i'm jodi hernandez, nbc bay area news. >>> it's happening again. tomorrow will be another spare the air day in the bay area. here's a live look at san jose. tomorrow will be the fifth spare the air day in a row. that's a new record.

wells fargo advisors. together we'll go far. p.ozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. liz: facebook hit a new all-time high today, $55.18. it could be in part due to revenue streams that are new here. the social networking site adding new features including video ads that will make their way to your news feed sooner than you note it. david: this could really transform the way advertising could be done. jo ling kent joins with us more. this means a lot to all the social networking sites. >> absolutely, david and liz. video ads will start playing in your facebook news feed both on the web and mobile automatically with no sound as early on thursday this is part of a initial test but we know this the is beginning of a big change. facebook wouldn't indicate how much ads will cost, saying we don't disclose pricing. the goal of the test fea

and you see it not just at wells fargo. i see it at banks across the country. ll street the same kind of activities. it's got to be changed. >> you know mark here's what's interesting. wells shares are actually up 0.8% today but the extent to which the banks are so eager to put, for example, malpractices during the mortgage bonanza behind them a story like this lands and does it not represent major litigation and legal risk for them at least over the next at least, five-year period. >> it certainly does kelly. while it's certainly hard to condone, i certainly don't condone the activity that went on at wells fargo. what we've seen in 2013 is an unprecedented environment of extremely aggressive regulatory activity. over $20 billion in fines. over 194 individuals and entities indicted or enforcement action brought against them. what i'm concerned about, as bill point out, these blanket indictments that wall street is dirty. we have the scandalous films coming out like the wolf of wall street around the holidays. people need to understand the costs of these fines, t

last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should get us know when we go back outside. not sure what to expect. second, i thank speaker pelosi for all the work she did to support the jobs act and before that, the stimulus bill, the original american recovery act bill that allows sba to be able

she had somewhere between $100,000 and $1 million in stock in wells fargo. last year, she was part of the court in turning down an appeal by a couple that accused wells fargo of predatory lending. owned her colleagues also wells fargo stock and said, i cannot dissipate in this case. she did not. she owned up to $1 million of stock in the company. we contacted california and they said, oops! ourre going to look at standards and set up systems to make sure this does not happen again. host: did you find direct instances of stocks or gives directly related to a decision favoring holdings and gifts? did.: yes, we we had a number of cases where a judge offered an opinion on cases that favored a company that they or their spouse have stock in. we had several cases. when we'd contacted the judges, some of them inclined -- when we contacted the judges, some of them declined to comment. they said, i thought i should be fair and rule on it. standards of their states, some of the justices were not required to recruit -- to recuse themselves. host: other ways judges are

we continue our conversation with the former chair and ceo of wells fargo.s it possible to have a win win win? the banks, the anti-bank activists, and the regulators seemed pleased with the way the parole or rule turned out. rulee way the volcker turned out. >> the details have to be worked out but the framework seems to be reasonable. are two overarching truths that we must be sure that we understand. the first one is that there is no evidence that proprietary trading either caused or even contributed to the financial crisis and that has not been portrayed that way. the value that banks , businesses,conomy and consumers is taking risks. we add no value unless we take risks. there is a perception out there that we should be eliminating the risks and banks. if he did that, he would not perform the duty. the businesses will grow, consumers can get loans. -- volckerl rule rules not made for your kind of bank. they took the approach that the best hedge against bad credit was good underwriting. now, the rule deals with two things that did not really concern you,

i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certi

wells fargo chief portfolio strategist $236 billion in assets under management. it is easiest question here, how do you take that money and put it to work in 2014? what do you say? >> what they should be looking at doing is adding risk to their portfolio, getting out of cash and getting into equity or perhaps getting into higher yield fixed income investment when it is appropriate for your situation but for too long people have been thinking for some reassn this market run-up has got to come to an end, things must end badly for some reason it is not going to. what we will see our continued gains. the last four years have been a major market correction getting us back to normal and back to normal means from this point forward maybe 2014 expect to earn from 7% to 9% if you're investing in a broad index like the s&p 500. cheryl: a lot of the viewers took a beating in 2008. they're still looking to recoup those losses and buil bill out e losses. one of your strategies is free cash flow. can you give me examples? >> i cannot talk about specific stocks but what they sh

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the agreement resolves all repurchase claims against wells- fargo over loans it sold before 2009.annie mae, and freddie mac were facing bankruptcy brought on by bad loans when the government stepped in in 2008. >>> digital first media announced it has finalized the merger between two giant newspaper chains. they will now operate under the digital first name. it is the country's second largest newspaper name and has 800 multiplatform products. locally, it will run the san jose mercury news and tribune, among other papers. >>> some were planning to fly out to wisconsin. if you want to see the 49ers on the frozen tundra of lambeau field be, tickets are going for as little as $140 on stubhub. that's the nfl ticket exchange. flights for $800 to green bay, or fly into milwaukee for a little less. >> milwaukee is about 120 miles out, then go in on game day. >> 49er fans who don't want to make the trip to wisconsin will be packing into bars all over the city on sunday. one of the bars getting ready for a very big crowd. sunday's playoff game is right here on ktvu, fox coverage begins at 1

the agreement resolves all repurchase claims against wells- fargo over loans it sold before 2009.nie mae, and freddie mac were facing bankruptcy brought on by bad loans when the government stepped in in 2008. >>> digital first media announced it has finalized the merger between two giant newspaper chains. they will now operate under the digital first name. it is the country's second largest newspaper name and has 800 multiplatform products. locally, it will run the san jose mercury news and tribune, among other papers. >>> some were planning to fly out to wisconsin. if you want to see the 49ers on the frozen tundra of lambeau field be, tickets are going for as little as $140 on stubhub. that's the nfl ticket exchange. flights for $800 to green bay, or fly into milwaukee for a little less. >> milwaukee is about 120 miles out, then go in on game day. >> 49er fans who don't want to make the trip to wisconsin will be packing into bars all over the city on sunday. one of the bars getting ready for a very big crowd. sunday's playoff game is right here on ktvu, fox coverage begins at 1:0

not the way it is in the movies, that's for sure. >> reporter: wells fargo employees hannah williams and another may have been victims of the robbers' earlier holdups. both heard several gunshots this morning outside their bank. >> we're not sure if it's the same guy, but we were robbed on october 30. >> reporter: he is linked to at least 9 robberies in the past year. the fbi says most time he wore a hat or beanie with a cot ton ball on top and most of the robberies were on a wednesday morning like today. >> and you're right, it is a wednesday. there have been a couple of days when he did strike on a wednesday, i think it was a thursday, but that's part of what we're looking into. >> reporter: this afternoon, we learned eight agencies worked to catch their man. the police had been quietly placing banks under surveillance. the fbi admitted the operation's goal was to catch the cotton ball bandit. >> call it a mathematical equation, a calculation, but we are going to do the best we can using our techniques to catch a menace to society. >> reporter: that's as close as they got it tying

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wells fargo trades at 1.9 times tangible book. is wells fargo really that much better?ee the stock heading to $20. a 33% gain from these levels and that's not much of a stretch, considering it was 19 1/2, and not even in the midst of the great recession. j.p. morgan was at 38. wells fargo, now at 43, and there's a huge amount of catching up for bank of america to do and take it from me, this is a much better bank than when it traded at $19. bottom line, google and bank of america, ideal stocking stuffers for the holiday season and beyond. let's go to fozzy in colorado. fozzy! >> hey, foz, here, jimmy. i just want to give you a big merry christmas boo-yah and talk more about yahoo. >> same thing right back at you, foz. >> the ali baba portion will be worth $50 billion. what do you think? >> i think it will be worth double that. i think it will be worth more than $100 billion. that is why i think people should still own yahoo. yahoo email and -- i don't care. i think that yahoo is worth a substantial amount more than it is selling for, and that's because of the sum of the

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. >> john manley at wells fargo. do you agree? did a study.ll, we we looked at years when the s&p was up more than 20%. it has not had an effect. i think the single most important factor could be interest rates. >> they think they are going to keep them low due to unemployment. >> they are looking unemployment versus earnings. to raisea lot of room money. >> let's see if we can get a unanimous vote here. does the market continue to move up? echo a lot ofould the same points as far as why the markets did so well this year. there were a lot of close calls, obviously. we narrowly avoided quite a few disasters. ultimately, you remove a lot of the uncertainty, and investors have once again been able to focus on the underlying fundamentals, a stabilizing economy, corporate profits doing well, and improving housing market, less austerity here as well as abroad. >> the only caveat i would throw it all of you is the reality tryinge market is always to anticipate what is next. staytors are trying to ahead of what is happening if they get it

increase its sales in the indian market. >> and falling 12%, wells fargo rates twitter down. an agreement to buy intel's start up service. q, beganice, called on- early this year. i find this one fascinating. it is the perfect example of the convergence of everything. it used to just be that verizon was a phone provider. and then it became an internet service provider and cable into your home. now it is tv. it is what happens. it is good for customers that they are buying. >> cory johnson in the house. homes, don'tdel they have on-q? shares are gaining for blackberry. their course of action is fairly straightforward, but warns that it's cap to success -- understatement of the year -- will not be easy. >> shares of bp were up today. it signed a 30 year dear to jointly develop a gas project in the arabian desert. >> number two, lsi. 38% after avago technologies agreed to buy it. stockholders get a 11.15 per share. >> we're looking at our number one stock of the day. it is a id. they are selling their aircraft leasing business for about $5 billion. [closing bell] are at the clos

. >> so i just started walking towards wells fargo. and then, that is when i heard the gunshots. there are four shots. >> the deputies were not hurt. sky seven was over the bank of the west after it was robbed by the armed suspect around 9:30 a.m . police believe it could be the same man robbing banks across marin for the last year, known as cotton ball bandit he's been seen on surveillance video wearing a cap, sometimes has a white ball on it. the wells fargo branch was robbed by the cotton ball bandit in october. >> we think it might have been the same guy. because his m.o.is every couple weeks, wednesday, in the morning same time >> police can't say if it's the same man. the fbi is joining the investigation. in san rafael, abc7 news. >> in san yoema county assistant sheriff tells abc7 news there is no indication the deputy was violating any policies in the shooting death of a 13-year-old boy this, is according to her internal investigation. he shot and killed andy lopez in october. the boy carrying an air soft rifle. into possible criminal charges against gelhaus. >> for the f

. >> wells fargo has agreed to pay fannie mae five- hundred-and-91-million- dollars to settle claimsdefective home loans. the deal covers loans made through 2008. wells fargo says it resolves nearly all repurchase liabilities it has with fannie mae, the federal mortgage buyer. lenders including bank of america, citigroup and jpmorgan chase have also agreed to settle mortgage claims with fannie this year. >> happening now. america's most popular of light bulbs are about to become much harder to find. light bulbs are born to start being phased out tomorrow. companies in the united states will no longer be able to import the traditional 40 what and 60 w light bulbs. this is part of a 2007 energy efficiency lot that was signed by then- president george w. bush. instead of cadiz, consumers will find more efficient laped, halogen, wore fluorescent bulbs. you can still buy these bulbs that are already on store shelves. >> the san francisco fire department is working on a fire on fulton . this was called in at 5:42 a.m.. this is the 600 block near laguna. this is a one alarm fire. we have cr

. >>> wells fargo sold bad mortgages during the housing boom and now it will pay to settle more disputes they agreed to pay $591 billions to fannie mae. it covers loans originated before 2009 that fannie mae tried to force the bank to buy back. wells fargo acrossed to a settlement with -- agreed to a settlement with freddy mac. >>> new information about the attack on the u.s. consulate in libya. an investigation is sparking a new debate about who was behind the attack that took the life of u.s. ambassador chris stevens. >> reporter: after months of investigation the times concluded the deadly wednesday wednesday attack because -- benghazi, libya attack was led by islamist militant tactics. says a video sparked the attack and not al-qaeda. mike rogers is skeptical about the report. >> there was some level of preplanning we know that. >> reporter: four americans were killed, including u.s. ambassador chris stevens. the times interviewed several libiates who had information about the attack and found nothing linking them to al- qaeda. >> the intelligence indicates al-qaeda was involved. but

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we ask wells fargo chief international strategist.choice, makes the decision tomatoes you what he likes, but where he is avoiding it. an interesting country that you might not have thought out. and the market's composite closing at 4:00 p.m. eastern, but i am on call. just a test foxbusiness.com. what you will get is that top headlines of the day, especially the late breaking ones, big interviews, and what you need to be watching. the most important 19 seconds of financial news delivered right to your smart phone. i am coming right back. come on. angulate me. ♪ (vo) you are a business pro. you can separateunyridiculo. seeker of the sublime. from fason that flies off the shelves. and you...rent from tional. because only national lets y choose a caand go.e aisl.. you can even take full-sizor above,nd still pay the mid-size price. (natalie) ooooh, i like your . (vo) so do we, business pro. so do we. go national. go like a pro. liz: okay. two blocks norris -- north from fox business, there is a line. you cannot even get within 30 feet of

wells fargo advisors.>>> we're talking about a lot of different things with our guest host tom friedman this morning. and i guess i -- i kind of like to keep it here to some extent. off camera, we talked about how we fix these political issues and entitlements. and we agree on this. it's a problem we can't do it in a bipartisan way. but if we elect three branches of government that are the same and they do it their way, that's not going to work either. we can't do it bipartisan, can't do it partisan. it's not going to get fixed. >> well, it's the definition of stuck, joe. and what sort of depressing about any of these recent political upheavals we've had, what you sense is no one gets punished for bad behavior, you know, and that's the real definition. >> they were elected by people -- >> right. exactly. >> what some people view as bad behavior. >> i don't know who can break us out of this, but we definitely need to. i hope somebody throws a hail mary here. >> there was a glimmer with paul ryan and patty m

wells fargo advisors. together we'll go far. desk decorated with pictures and items that make it yours? well get rid of them because it may no longer be yours. our next guest is getting rid of assigned seating in the office and literally changing the corporate layout. he is the ceo of cvre. we welcome you to fox business. thank you for joining us. this concept of the free address office, explain to me how that works because you're actually doing this and the benefits of doing this. >> well, there's a number of benefits to doing it, adam. first of all it really promotes collaboration among people in the work place. secondly, particularly with younger employees, but not just with younger employees, but with all those employees who have become accustomed to wireless, mobile environment, it is an appealing way for them to work. third, it can provide significant cost savings over time. adam: okay. so the actual concept is, for instance, if you walk into my office, you see pictures of family and of different things and all kind of clut

it was country wide as wells fargo. insuring -- issuing their own securities.tion and a private label mortgage-backed market, they all walked away. any volume they do now get sold to fannie, freddie, or held in their portfolio. to replace fannie and freddie and hope private capital comes back seems funny with that chart. not anywhereal is near coming back. qwest let slide the camera in there so you can see. this is a total implosion private label, freddie, fannie, janie, congress has got its work cut out. hopefully, they will start asking the right questions rather than searching for -- >> thank you as always for being with us. dinnersrom mcdonald's to americans airlines debut, get the top 10 stops you need to know about. the closes next on street smart. next hour, uruguay is planning to officially legalize pot. will other countries follow suit? that story is coming up in today's edition of "street smart." ♪ ♪ not worry, we're getting you caught up on the only stocks you need to worry about. number 10, mcdonald's, the world's largest restaurant chain reported m

. >> wells fargo injures settled with fannie mae.ls fargo will pay the lender more than a billion. fannie mae settedled with other groups, including citigroup and bank of america. >> two teams of elephants faced off in a friendly game of socker in nepal. part of a festival devoted to the animal. we'll hey much more from the fox news deck right after these messages. >>> a. he will rescue dozen of passengers from a strand ship in antarctica as soon as the weather clears up, according to the russian foreign ministry. officials called off an earlier rescue effort hours ago because of a blizzard. an australian icebreaker got within a few miles of the ship but had to turn around. according to one official the weather condition is not safe for that icebreaker to proceed, and it's gone back to open water. the russian ship left new zealand on november 28th on a private expedition and got trapped on christmas eve -- the group has a few weeks worth of supplies and is in good spirits. >> president obama's healthcare overhaul takes a major step f

wells fargo advisors. stop eating. take deep breaths.id bad weather. [ whispers ] get eight hours. ♪ [ shouts over music ] turn it down! and, of course, talk to farmers. hi. hi. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum ♪ >>> on april 15th, three people died in more than 260 others were injured when the enthusiastic cheers of boston marathon spectators were silenced by the explosion of two bombs. it takes a certain kind of person to run the 26.2 mile course and on that spring afternoon it took the efforts of equally xrar people to come to the rescue. among them, a man named carlos aradonda. >> when that bomb went off, you see the ball of fire, whatever it was was very bad. was very bad. >> on april 15th, carlos aradondo from costa rica became the picture of courage and compassion. he is one of the extraordinary people from all walks of life rushed in to save lives when they could have run for safety. >> no. people need my help. and i was hoping not to get in anybody's way and help in any way i could. >> in boston, it's patri

wells fargo advisors. together we'll go far. >>> tonight's money and power.target is now facing at least three class action lawsuits after hackers stole credit and debit card numbers from customers. many customers weren't biting at the discount they offered. chase put a cash withdrawal limit on customers who recently shopped at target, all of which could make for a rough holiday season for the giant. mansioning partner of may flower, i see you agree with me. customers are saying they could have done a better job at protecting their information, but how much of this sh actually target's fault? >> you know, this is a crisis. and it's a crisis when the nation's second largest retailer has a security breach of more than 40 million account numbers. it's a crisis because it is keeping people away from target stores. clearly foot traffic is down. it's a cry snis how they've articulated the message. crisis management is a lot like retail. it's about trust, confidence and execution. and in this case, the perception of the public is that target could have done to prote

wells fargo donated the bank owned house. ryan and his financee have strong ties to the central valley. >> i don't know what to say, it's breathtaking. i never would have thought this could have happened. >> the family hope to be settled into the new home in time for christmas. >>> kids are not the only ones that get to sit on santa's lap. furry friends took their seat. the photo op cost $10. the money goes towards homeless animal programs. if you missed today. santa will be back on saturday. >>> the obama's new dog got excited at the white house christmas event. right behind mrs. obama a little girl was knocked over when the girl jumped up. the first lady got down to make sure the girl was okay. there were no tears and the little girl pet sunny. >>> a cold front is creating concerns for farmers in gilroy, crews worked to protect thousands of the trees, pulled the cover over rose of small trees. as for the bigger trees farmers are hoping they are strong enough to make it through. the big trees they don't get damaged as easy a

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wells fargo advisors.ogether we'll go far. >>> terror groups usually don't say they're sorry for attacking innocent people, but a leader of al qaeda's yemen affiliate has done just that. in a video message, he apologized for an attack on a hospital this month which left dozens of people dead. meantime, the u.s. is still shrouding its drone strikes in secrecy, including those that inadvertently kill civilians. joining us to talk about this, cnn national security analyst peter bergen as well as phil mudd of the new america foundation. i'm going to start with you, peter, real quick. it's not every day that al qaeda apologizes. so what do you make of this? >> i think they suddenly realized there's a cognitive dissonance between saying hey, we protect muslims and are defending them, then in fact killing many muslims. i think within al qaeda there has been quite a discussion about the necessity of trying to avoid civilian casualties. this is a rare public apology for the same. >> phil, let me ask you this. the u

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. >> outside a small group of activists are protesting, calling on banks like wells fargo and bank of america. >> this is a community action in protest of the game conference and the game conference is a conference of investors that they spend their money investing in for-profit private prisons. >> private prison's got just one goal. >> organizes communities against prison population all across the southern united states. >> they're in this business for a profit. what's good for business for them is great recidivism rate, three strikes you're out laws, mandatory minimum, that's great for laws for the private prison companies. and basically my personal feeling is they've locked up a number of the african americans in the community and now they're going after the immigrants. >> in washington, d.c, private lobbying, cost over $2 billion a year to lock them up. in their annual reports the securities & exchange commission both cca and geo emphasize that any changes to immigration laws constitute a business risk. to contain that risk they spent at least $25 million on lobbying politicians s

. >> she was working inside of the wells fargo branch in terra linda, witnessing the sheriff deputies outside, drawing their guns on an armed suspect. the moments before crashed his car. >> the suspect was armed with a handgun. he was shot. and has been taken to the hospital. >> the deputy was not hurt. police say the suspect had just robbed a bank in novato. sky seven hd was over the bank of the west after it was struck around 9:30 a.m . police believe it could be the same suspect whose been robbing banks for the past year. known as the cotton ball bandit. he's been seen wearing a cap sometimes has a small white ball on top. this branch she says was robbed in october. today, the suspect had the same mo. >> his mo is every couple weeks on wednesday in the morning same time he robs our branch last time. >> you're right, sate wednesday. >> fbi has now joined this investigation. >> a freeze warning continues in the north bay for a 7th day. >> skies still clear. change is that the area under a freeze warning is limited to the north bay mountains and valleys because we're not expecting wid

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wells fargo advisors. together we'll go far. wells fargo advisors. stick with innovation.power. stick with technology. get the new flexcare platinum from philips sonicare and save now. philips sonicare. . >>> more breaking news tonight, a panel appointed by the white house to review the nsa's controversial mass surveillance activity is calling for sweeping new limits. the revelation the nsa can get phone records set off an outcry that hasn't let up. the call data contains more than one trillion records. the government's bulk collection of meta data is unconstitutional and the panel hand picked by the white house says the nsa should give up the massive database. jim shutto joins me now. >> reporter: i think the headline recommendation is the word accountability. that's what a panel member said to me, to the congress, white house and american public and you can see that reflected in the 46 recommendations the panel made. for instance, they want congress to pass legislation to move all that meta data, the phone records from the nsa's possession back to the phone company so it

groupon an upgrade at wells fargo to outperform from market perform. >> and the stock is responding uphe valuation range up to 13 to $14 and say group op is expa expanding beyond daily deal e-mails and taking more market share in local commerce. >> we got 3 m getting an upgrade to a buy. >> all right. target increased a whopping 17% up to 150 bucks from 128 about 21% higher than now. firm thinks organic growth, capital allocation and margins may surprise to the upside which would accelerate epf growth above consensus. >> urban outfitters announcing improved store sales. >> stock up to 37 bucks, basically same-store sales up mid single digit percentage. they posted a decline and warned about discounting. had this was a $45 stock in summer hard to cheer but still today up a little bit. >> somewhat under the radar and under water today, avanir pharmaceutical tanking. >> when a stock is down 24% to $3.25 it gets on your radar real quick. bad phase clinical 2 data, an ms drug that did not meet the points. downgrading, cutting their price target to 5 which is still $1.75 more than the stock

wells fargo advisors.we'll go far. ♪ dagen: another surprise for obamacare. connell: announcing an 11th hour rule changes that could impact health care for millions of americans. rich edson joins us from the white house to tell us the whole story. >> reporter: five to 6 million who have lost their health insurance plan. you don't have to get health insurance and pay the penalty. reeking of the catastrophic plan. visa that bare bones plans the insurance is a season not like. they're just trying to accommodate. this is a common-sense clarification of a lawful the limited number of consumers is plans to been cancelled and are seeking coverage. this is one more option. the insurance companies need the younger, healthier people to be paying more for insurance to offset the cost of insuring people who are sicker and older. this is a statement from the insurance industry saying this latest rule change can cost significant instability in the marketplace and lead to further confusion and destruction for consumers.

. >> reporter: there were sign ups for healthcare coverage and financial planning from wells fargo. >> the benefit is that the individuals can develop a relationship with thattenty and -- that entity and connect once they return. >> mike: the goal is to get them ready earlier than ever for life after jail. >> this is about breaking a cycle. and making a community more healthy. >> reporter: he doesn't have a release date but he knows what programs will help keep him out of custody. >> i could see them in person, you know, more -- i am aware of it more now and i see there is a lot available for us. >> reporter: they will give coordinators feed back with an eye towards expanding next year. david stevenson, ktvu channel 2 news. >>> the car service is warning of higher holiday fairs in san francisco during new year's eve. they anticipate fairs between 12:15 a.m. and 2:30 a.m. on january 1 could be 5 times the normal price riders would pay. users will be required to verify that they will accept the more expensive charge. demand is expected to be very high between 8:00 p.m. and 10:30 p.m. to

the fbi says the serial robber held up this wells fargo bank across the street a couple of months ago. the police chase started after a bank robber held up this bank of the west in novato this morning. the chase ended in san rafael with the suspect crashing his car. he was shot when police say he pulled a gun. right now investigators are trying to find out if the suspect is the serial bank robber the fbi calls the cotton ball bandit. >> i think we all heard the gunshots. yeah. it was, uhm, not like you expect it. not the way it is in the movies, that's for sure. >> reporter: wells fargo employees hannah williams and another may have been victims of the robbers' earlier holdups. both heard several gunshots this morning outside their bank. >> we're not sure if it's the same guy, but we were robbed on october 30. >> reporter: he is linked to at least 9 robberies in the past year. the fbi says most time he wore a hat or beanie with a cot ton ball on top and most of the robberies were on a wednesday morning like today. >> and you're right, it is a wednesday. there have been a couple of day

wells fargo up half a percent and ameriprize and blackrock new highs.great stuff, nicole we love them. liz: s&p futures are closing. let's get a window what might happen at the open with lincoln ellis at cme. lincoln? >> liz, good to be back with you. not much going on. truncated session tomorrow. fed meeting in january. and people squaring up ahead of the holiday. very, very light day here. not much more to report, i'm sad to say. david: all right. lincoln ellis, thank you very much. >> thanks, david. david: one. biggest knocks against federal reserve chairman ben bernanke and most of the members of the federal reserve that they are economic they're tish shuns but dallas fed president richard fisher says he is more business economist than academic. he will be part of the fed policy setting committee starting next year. joining us for exclusive interview since the fed's decision last week, richard fisher, federal reserve bank of dallas president. you've been to australia. you look great, richard. thanks for coming in. >> david, i'm dressed like an acade

wells fargo advisors together we'll go far. >>> why did you decide to stay with "duck dynasty"? well, that easy to s say why did you stay with "duck dynay"? i have been with "duck dynasty" for several year now. they are faith-based solid people. so it was easy, an easy decision. >> well, defending the ducks on sponsors of the show "duck dynasty" stay they wil stick with bill despite the controversial comments this week. the network suspended him and groups that are demanding a&e drops the show. jonathan you say let the free market handle this. go ahead. >> this is theree market at work. phil has every rht to say what he said and every right to fi him and sponsors have a ght to associate or not associate with him. there is no censorship here, as i believe i heard governor palin anduz talk about this. it only comes from government. not rom private interaction. i ink that phil will probly hurt phil. people will dissociate themselv with the remarks. to me, it feels like jimmy the greek part t. >> i'm n sure. there is a ground sell of support for phil robertson. the facebook page had

penney stock fell sharply because of a note from wells fargo today. although penny sales jumped by 10%, that may be as good as they get. shares tumbled 8% to $8.85. >>> apple hitting a 5 52-week high. this from the wall street journal it signed a deal with china mobile to carry the iphone in mid december. it's the largest mobile moan carrier. the stock closed at $567.90, up more than 2.90%. >>> costco says sales were soft in electronics and lawn and garden. the stock fell more than 1% to $120.95, tyler? >>. >>> dollar general beat estimates. the discount retailers profits have grostaedly as it opens new stores. dollar general also added a billion dollars to the stock buy back progap, shares up 6% on this otherwise soggy day. 59.81 the close. >>> kroger, the biggest u.s. supermarket operator issuing a cautious outlook for the rest of the year. the company reporting earnings in line with estimates but concerned with cuts to the food stamp program and how it will impact the current quarter. the stock dropped 3.5% to $40.06 the finish there. >>> mattress

wells fargo visors. far. ♪ ♪ >>>>> when the ball drops you better not drop your lightbulb th ban or the 40 and 60-watt lightbulbs going in effect on january 1. once they're sold out, you are out of luck ben has been stashing these away for a long tme. ben, moreovernment outreach? >> more goverent meddling and more government getting if your life in tiny ways that don't make any difference. be honest, make adam happy. thisis a republican idea and a terrible idea no matterho it came from. the idea that government can tell youhhat wattage of lightbulb to own is nuts. if ty can do that, plus forget about $525 million owed by a contractor, scariest day for america. scariest of all is income inequality. be terrified of that. >> i ess it goes to the saying. absolute corruption and power. no matter who isin power, when a government is thisig, they make crazy decisio. no more incandscent lightbulbs. i can't get goodight from the new ones. >> i call this progress, not government overreach. there all sorts things.