it also lost its chief operating officer, michael bloom, who resigned. meanwhile bed bath and beyond stock is falling fast on weak earnings and a lowered outlook. early in the day the stock hit its short- sale circuit breaker - or the point at which there is a ban on short-selling after a stock has dropped a certain amount. taxing times at the irs. a spokeswoman tells congress the agency is teetering on the brink of collapse. between budget cuts and years of underfunding-- the irs needs a major cash infusion. the agency warns its unable to keep up with calls from taxpayers--answering only about 60% compared to 87% a decade ago. jp morgan is exiting its prepaid card business, saying it is too risky. the bank offered the cards with cash and treasury services to companies and governments. last month hundreds of thousands of cardholders were warned their information may have been hacked. jp morgan has been trying to simplify operations after regulators found deficiencies in its risk controls. u.s. banks continue to pump up the profits despite paying billions

democratic leaning labor unions race and spend hundreds of millions, too, and other billionaires like michael bloomter play the same game. and 5 million to push for greater gun laws. conservatives say it all adds up. >> what we have seen over the last few years is see the right counter that. in order to compete on the electoral battlefield. >> reporter: so this is just a glimpse into the new political landscape here in washington, this web of connections and money moves in so many ways, that peep can't keep track of it, where it's coming from, where it's going to. that's one of the reasons the i.r.s. is trying to come of better way toss keep track of it. for right now it is an open season on this money flowing into the political system from all sorts of places, and as they say money talks, certainly in politics. thank you, tom. >>> let's discuss this and a little more with other chief analyst gloria borgeers, and larry sabato, from the university of virginia, also the author of "the kennedy half surgery." g -- century." >>> the it was an early prediction, mean not only retain the majority in the ho

michael bloom has left the company to pursue other interests.down four percent, and the owner of victoria secret cutting fourth-quarter profit forecasts after reporting disappointing sales. merchandise margins were lower than expected. >> you know you cannot actually read. is this the new fashion show? this is the new one. >> i did not go to this one. i have gone to every victoria's secret fashion show for five years and i skipped this one. it looks like it was pretty good, actually. >> number seven, jcpenney is rallying four percent. a recommended upgrade to the retailer, they are citing they says decision -- the company is doing what it should be doing. >> twitter dropping three percent today. a fourth straight day. analyst started the stock with a valuation. shares at twitter are down 15% since monday and it is now trading under 300 times cash flow. down there, 290 times. number five, world wrestling entertainment shares are up two percent. it introduces its first ever 24/7 streaming network third it will launch in the u.s. monday, february 2

. >> jonathon bloom, abc news. >> michael finney was the emcee at san francisco's rose of charlie festival. she was the city's rose for 2014. she will take part in one of the longest running celebrations. it brings young women of irish dissent to celebrate the irish culture. >> i would have to say it probably affects everything i why i do them. >> the festival includes live concerts, theater and our internationally renouned rose parade. >>> it is time for one last check on our weather. hi, francis. >> hello. temperatures right now are 20-degree spread. napa 40 degrees and 60 in antioch. it is 59 in san francisco. things will cool down quickly. we will have a cool start tomorrow. around the nation, below freezing temperatures from the midwest to the great lakes. the high in fargo tomorrow is 11 degrees. in new york the high will be 20. while the rest of the nation is freezing, here in california we have seen record warmth of the we broke records around the state today. tomorrow the temperatures will be in the 60s and the 70s. 74 in sacramento. 73 in chico. 72 in fresno. 55 in tahoe and stil

sherrie steiner, jim bloom, human freud, i can't read the last name. jamie michael's, steven, kevin strain, mike fong and christian. >> i'm bob plant hold. i offered two concrete scenarios why i object to the process and indicate the mou is flawed. we have only heard aesthetic concerns raised today. i'm going on the basis of what we heard in here today. dpw in its presentation said people in agencies are noticed within 300 feet. that's not good enough. where i live, there is an elementary school diagonally across from me, there is a middle school across from me and a public elementary school a block away. in this intersection there is a paid school crossing guard and count down signal. that means there is significant accidents. but the public elementary school is beyond the notice and therefore they wouldn't know anything about this. that's bad enough. but in addition, the dimensions of these new cabinets is shown in the first slide of dpw's presentation. 4 feet high and nearly 6 feet long. a lot of kids 10 years old are shorter than 4 feet. we have adults of short st