ceo marissa mayer reportedly caught sleeping on the job, sort of. she missed a key ad executive meeting because she overslept. could that mean big trouble for yahoo! a firm that relies so heavily on ad spending? we have that rather crazy story, coming up here. >>> now, here's where we stand in markets. pretty broad-based sell-off with the dow jones industrial average off 80 points this hour, retreating from that 17,000 mark. it's currently at 16,856. the s&p giving up about six points and the nasdaq the out-performer today. it's just slightly positive, up about four. >> all right, let's talk about all of this in our "closing bell" exchange today. with us, joe bell from shavers investment research, brian persist restie from wells fargo investors, sam and diane garnick from clear alternatives and our own rick santelli in chicago. rick, i'm going to start with you. what have you heard about the situation in iraq and could that be the reason why we're seeing this sell-off today? >> well, you know, it didn't necessarily correlate with the wrist watch, bu

s chief, marissa mayer, sweeping in. missing a meeting with advertisers. can you do that?art: yahoo! is a as driven business. why did ceo marissa mayer fault of sleep and keep executives waiting? elizabeth macdonald is here. liz: this is really bad. this story is blowing up. she was supposed to meet with them dinner. the story now is. stuart: she was an hour and a half late for that dinner. liz: a working mother with two young women. stuart: is it legitimate to say that when you are the chief executive officer, male or female, does not matter. liz: this is not a story. male executives fall asleep all the time. congressman fall asleep all the time. you see it on television all the time. >> we have yet to hear what happened with marissa mayer. she overslept. we do not know enough. he got over $100 million in extra pay. what would you call a guy that gets over $100 million? stuart: a fat overpaid guy. [laughter] stuart: very good. well done. last hour we heard from ed klein. author of the new book "blood feud." >> bill clinton has been corded on more than one location of sayi

marissa mayer bombing. in cannes. mayer, the poster child for women and tech, the company's internal diversity report finds 37% of yahoo!'s workforce is female. 15% have tech johns, 13% are in leadership roles. >>> far from france, gm's ceo mary barra grilled on capitol hill. a company spokesperson not convinced that general motors has done enough. >> when i go through this, it looks like a lot more than 15 people should have been terminate. >> it's not clear to me that any senior level manager has been held responsible for the gm corporate culture that allowed the ignition switch defect to go unaddressed for years. >> mary barra wants to focus on the new gm but many not ready to turn the page. that as janet yellen turns the page on the company, wall streeting hearing her tirades. but as the fed winds down, it's bond buying we are in uncharted waters. and no one knows what it looks like on the other side. cristina leesh. and cristina, welcome. usually the presentations are fun they're lighthearted, there's a certain t

. ♪ >> since marissa mayer took over yahoo!d to transform the company with a focus on mobile and part of that strategy includes hiring a chief marketing officer. about what this new approach means for yahoo! >> digital strategy is not even a strategy, it just is. we live in a world where our phone actually knows more about us than anybody in our family. your phone becomes a remote control for your life. gen z, millenial's, are the first generation built with maps in their hands. look at whether it's a tablet or a phone the way i look at a remote control for a tv set when i was growing up. , an artificialon motion, to have a digital strategy, it's another channel you have to be relevant in io order to communicate with your users. >> you have an yahoo! at a relatively short time. what do you think is the most exciting thing that is turning things around? >> what has been most exciting is our rapid transformation into a mobile first company. we refocused the company when marissa mayer came in i came in shortly after to join her te

. >> new this morning, proof that tech tighten marissa mayer is just like the rest of us.a big oops that had her missing a critical i'll have my usual ule cheeseburger. you can have that. or-two new versions of the ultimate cheeseburger. one has sliced jalapeños and creamy ranch sauce, the other has sweet and tangy barbecue sauce and grilled onions, plus double meat and cheese like the original. new versions...? two new versions! now, this was just a training video, but these twists on my ultimate cheeseburger will blow people's minds. is that guy ok? >>> covering santa clara, san francisco, east bay, and all the bay area. this is abc7 news. >> good morning, everyone, on this morning news, we have a look at the golden gate bridge and some of the haze that crystal was talking about, with low clouds blowing through. mike tell us whether it will burn off and if we will see total sunshine. >> the first lady is making it official: she has no plans to enter politics herself after leaving the white house. here is mrs. obama's exchange at an event to promote family friendly workpl

marissa mayer, did marissa mayer cost the company millions of dollars. the yahoo! d to meet with top media buyers at the cannes advertising festival. mayer showed up nearly two hours late for a dinner meeting. the excuse for her tardiness, she was snoozing. she overslept, and it sounds like it wasn't a good nap. mayer's presentation to the annoyed advertising crowd was stiff and too reliant on the teleprompter. bad news for yahoo! whose revenue relies heavily on ad dollars. mayer banned staffers from working from home. she demanded they show up on time for face-to-face meetings, i guess she didn't get the memo. have a great night, see you tomorrow, charles payne is next. . charles: tonight on "making money" -- the stock market's at an all-time high but looked a little shaky today. a lot of pressure and a lot of doubt. of course there's a giant cloud of self-doubt out here. we have the confidence crisis, but i tell you what, i think there's a glimmer of hope. speaking of dark skies, the air is going to be filled with drones, somewhere spying, some are working, a few

then we turn our sights to yahoo, is its ceo marissa mayer asleep at the wheel? she's reporting she missed a huge meeting with tiesers, and they of course are yahoo's bread and butter. we're talking about her and oeismt ceo blunders. tyler is out and simon is back with me. hi. >> good afternoon. we start with something on this show 24 hours ago it was a big heads-up on a stock that could have been about to make a very big move. >> a biostock that many analysts will quickly double, vertex pharmaceutical reporting data. >> and move it did. vertex shares up big on news that the drug combo is an effective fighter on cystic fibrosis. it's up, up and away today. our own meg tirrell fresh from doing a lap of honor around the headquarters joins us with more. >> they met and exceeded the street's expect aations this co bock improved function. we took a look at how they work. >> cystic fibrosis is caused by mutations to a gene known as cftr. when the gene is defective, the protein it creates can't help fluoride escape the cell. that hampers the movement of fluid across the

. >> i think think about the, marissa mayer, one of her mos has been higher. they have technology and they have a team. they must be filled with guys with beards and flannel shirts walking around, really rich. i don't know how you integrate all these people into a real team. that's the thing. >> that's what they're wearing at yahoo also i think. >> yahoo has the culture, the best and brightest have been leaving there, now she's trying to pay tens of millions after dollars to get these people back. my question to him, although it was a good question as he acknowledged, i don't know if yahoo would spend 80 million to bring these guys in and create problems that can't be utesed on ios. >> i wonder if it has the ability to wake somebody up. >> if you have the alarm clock or something. >> give her a break. >> it's not the obvious thing, the obviously thing to bring up in the context of marissa mayer, yahoo and this new thing for your as far as phone. >> anyway, yahoo trade. >> it's been a grim death. it was a great trade in 2013, it's not worked yet. 3, 33-and-a-ha

marissa mayer may have hit the snooze button too many times for a meeting with advertisers but john and stuff better not be sleeping on the job. they have the yahoo! debate coming up. and gopro, set to ipo tomorrow. will traders buy in? that's straight ahead on "the half." but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. ♪ ♪fame, makes a man take things over♪ ♪fame, lets him loose, hard to swallow♪ ♪fame, puts you there where things are hollow♪ the evolution of luxury continues. the next generation 2015 escalade. ♪fame female announcer: time is running out on a new mattress. deal sleep train's 4th of july sale is ending soon. right now at sleep train, save $300 on beautyrest and posturepedic mattress sets. plus, pay no interest for 36 months on tempur-pedic and ser

ceo marissa mayer took the stage to give updates on the km.mission to make daily habits inspiring and entertaining. she's focused on returning yahoo! to growth. she kicked it off by talking about how many applications yahoo! has received, more than ever before. more than 100 applications for every hire. she also went into some detail on how they're investing in terms of their hiring and content. then they did a demo of a new app called aviate that is designed to sort take over user's home screen on android devices. back over to you. >> julia, we'll see if that leeds to more share down the road. great hour. david faber by the way is going to have les moonves coming up in the next hour. >>> welcome to the "halftime report." here is today's game plan, the incredible shrinking economy. first quarter gdp plunges the most in five years. is it a game changer for your portfolio or nothing more than stale data? google mania, he are expecting tons of announcements. will there be a watch for android or cars? we'll bring you the headlines, live. he's a tw

marissa mayer bombing. in cannes., the poster child for women and tech, the company's internal diversity report finds 37% of yahoo!'s workforce is female. 15% have tech johns, 13% are in leadership roles. >>> far from france, gm's

he has the support of sheryl sandberg and ma sir sis raw mayer -- marissa mayer. we'll be covering the election all day on ktvu.com and facebook and twitter. we'll have results on the 10:00 news. you can find your voting place and polls place at ktvu.com under hot topics. >>> the muni sick-out is on day two. hundreds of drivers failed to show up for work. katie utehs has more. >> reporter: from what we are hearing, the morning commute was not as bad as it was yesterday. the buses are not packed to capacity. it appears that people are able to get around now. now leaders are saying those operators who called out sick must show a doctor's note or they will not be paid and they could face termination. half of muni's fleet rolled out this morning up by 100 buses compared to yesterday as the muni sick-out drags into a second day. city leaders say enough of the pseudo strike over a contract dispute. >> it's not legal. it's not acceptable. the drivers need to come back to work. >> reporter: supervisor scott wiener plans to present an emergency resolution at today's superv

the media focus on female ceo stories and a lot of people are talking about marissa mayer oversleepingssing a beating. what kind of message does that end up saying -- sending? >> i'm sure many ceos have had a problem with a overslept. ishink -- the main thing working on advancement of women. there is a lot of unconscious bias of the world. all inheritas we from history, and when we see it we need to work on it. here at google we have done unconscious bias training. characters, on than will apply at five, and women will apply if they have seven. any one of those hand that might be the ones we need. being aware of are working on includes, part of that seeing ourselves in knowing we want to succeed. >> there is a google x presence here. >> some of our projects are tied to google x. the team is here. we also launched a program called fall for acts -- for x. we're looking around the world for incredible tech minds with great ideas for agriculture, energy, business, medicine. we invited seven of them here for ted-style proposal talks. ones was favorite about to land from ethiopia. he was in

stories like a lot of people talking about marissa mayer oversleeping or missing a meeting. kind of message does that send? >> i'm sure there are many different c.e.o.s who might have overslept and missed a meeting. marissa is terrific. the main thing is we're working on advancements of women. there is a lot of unconscious bias in the world. when we see it, we need to debug it and work on it. an example would be data training with everybody. for example, if you have 10 characteristics for a job, on average, men will apply if they have three and women will apply if they have seven. there is a group with their hands up and a group with their hands not up. anyone of them might be someone to promote to the job. becoming conscious of that, once you see your bias, work on programs and things that can help you. part of that includes releasing our data. so we can see ourselves and know we want to fix this problem. >> in the world of google x, there is a google x presence here. tell us about it. >> some of our projects are public. we also launched a product called solve for x. x is w

millionaire businessmen, and buffet has 38,000 twitter followers, and marissa mayer has 492,000 followers, but the author of a new book said that you don't have to be a celebrity or have hundreds of thousands of followers to be a social networking success. an updated and expanded version of his book, never eat alone, and other secrets to success. keith is founder of feratzi, and he helps clients strategize. he's off on the show talking about other things, and we don't get a chance to talk about this. keith, i have this book on my desk, and every guest who came in today said, oh, my god, i read this years ago. >> this has been almost ten years, ali, and everyone talks about the numbers and the quantity, and frankly, most of us are overwhelmed by the numbers and the quantity, and at the same time, in the last years, we have introduced facebook, and linked in has become part of our professional lives. and the question is are we feeling more connected or more than relational? are we building the relation that's matter or just clicking on numbers? and this book is the formula for success to bu

he has the support of many tech executives including sheryl sandburg and marissa mayer. honda has strong support from labor groups. we're talking the race for california's secretary of state. seven candidates are in the race, including pete peterson and alex padilla of van nuys. leland yee's name is still on the ballot, but the suspended state senator dropped out of the race after being indicted on bribery and illegal weapons charges. polling places opened a few minutes ago at 7:00 and will stay open until 8:00 tonight. anyone in line by 8:00 p.m. will be able to cast a vote. if you received a ballot in the mail, it's too late to mail it in but you can drop them off. we have a complete section at ktvu.com. >>> federal monitors will be stationed in two bay area counties for today's election. the justice department says monitors will be at polling stations in alameda and napa counties to check for compliance with the voting rights act which prohibits discrimination based on race or language. monitors have observed elections in alameda county since 2011 to make sure those v

s are tardy and a meeting marissa mayer missed because she overslept. >> make sure your children are for fun in the sun. michael finney teams up to reveal whether you really need kids' >>> kgo. >>> we are 30 minutes away from a not conserve hearing on the crash of asiana flight 214 at sfo. the hearing is ready to begin in washington, dc. >> sex sells. the new approach bay area water officials are taking to get you to conserve water. >> diplomatic difficulty, the just released poll showing president obama is facing trouble when it comes to americans and confidence in his foreign policy. >>> good morning at 6:00 on tuesday. thanks pore joining us. >>> check out the flow as the sunrises in the east. weather-wise, what can we expect? >> we will break it down, here is the day planner for the bay, the next 12 hours we have free of clouds and they gathering

marissa mayer took the stage to talk about her turnaround plan for yahoo, her focus on native 5ds and video. she's also talked about what she's accomplished, noting growth in mobile traffic, and the fact that t. mutual blr hosts 183 million blocks. she pointed to yahoo becoming a more appealing place to work. she also discussed her investment in engineering and content with new hires, including katy couric. mayer put spotlight on a new app., what it calls an intelligent home screen to organize your app.s and make suggestions about what app.s you may want to use. another announcement highlighting the commitment to content, mayer said starting in july as part of the partnership with livenation, yahoo will broadcast one live concert a day. as expected, all of the proposals were approvedly shareholders electing four new members to the board, including lee scott. >>> google is also holding a big meeting today, the developers conference in san francisco. the talk is of a new tv settop bock. josh lipton is live with more. josh? >> well, simon, you've got thousands of developers here at this

marissa mayer, sheryl sandberg and eric schmid are supporting his candidate and he joins us now fromgreat to have you here, sir. have some pretty big backers there and to the discussion we had a moment ago what would you do to just try to bring silicon valley maybe a little bit down to earth and close that growing gap between the really, really uber rich and the poor? >> i appreciate you having me on, and i think the challenge for snowfally is how we help the middle class become more technologically proficient and have a chance at being entrepreneurs and that we take the thinking in a way that's going to help the middle class get jobs in the 21st century, so i think silicon valley has to think about what is good for the country, not just what's good for the companies in silicon valley. >> it's good to help the middle class, but the middle class can't afford to live in silicon valley. 40% of home sales are for more than $1 million around the bay area. what does a teacher do, a fireman do, what do people not internet billionaires do in your areas? how do they live? >> it's a huge issue

marissa mayer. tons of big names there.ne year ago today the news began reporting of the nsa surveillance of those phones based on leaks by edward snowden. >>> following breaking news in san jose. homicide detectives investigating a man's death. a live update from the scene. >>> also, a vigil for the young woman shot and killed by peninsula sheriff deputies. >>> we continue to follow breaking news this morning. a man's body found in the middle of a san jose neighborhood. police now trying to figure out what happened. bob redell has just talked to police. he'll is a live update, next. >>> palo alto veteran hospital talking about how it deals with patients in the wake of a va scandal that is still shaking up washington. >>> we'll keep that natural ac going for parts of the bay area. meanwhile, not a lot to show you in the south bay. the heat will soar as a result. i've got your weekend numbers coming in just moments. >>> we have some of those low clouds drifting around our traffic shots and give you the update on what's going

. >> i can ehow it's problematic because marissa mayer liked to say, hey, here are the apple apps installedthat we power. but at the same time, yahoo!'s weather app right now is better than apple -- yahoo!'s app on ios is better than apple's standard weather app. it shows a ten-day forecast. it has features that apple standard app doesn't have. is it possible that this could shape yahoo! out into doing better with its own apps the same way apple's maps kind of allow going to get more downloads? >> if they can. but the new weather app the weather channel is providing apple is going to have a fine-day forecast, a lot more stuff. specificity about weather where they have three locations. if you're near beijing but not in beijing the weather is different. the new weather app that weather channel is providing is a better day. that's why apple shifted to it. if weather channel is providing less good technology to yahoo! and the weather app by the weather channel and apple is a better app with better technology, which is going to win? and so yahoo! doesn't have weather information. it also doesn't

. >>> not a good headline for marissa mayer today. she was two hours late to a major meeting with top marketing execs. the reason, she fell asleep. julia boorstin tells us why this is such a big deal. >> that's right, carl. a source who was at the dinner organized months ago tells me the purpose was to introduce mayer to some of the agency's biggest clients, incueding miller coors and giovanni. she came in about two hours late. what one source said was, quote, inexcusable for the guest of honor. this frustrated michael roth had walked out. this is on the heels of a quote, stiff and not particularly impressive presentation to advertisers and the festival. a yahoo! spokesperson not commenting other than to say, quote, we value our partnership with ipg and all of our advertisers. this is a crucial time for yahoo! to get advertisers on board as it growing competition from facebook and google. last year revenue declined and lost market share. now it has just 2.8% of global digital market share compared to facebook's 5.8% and the pressure i

ceo marissa mayer caused an uproar among advertisers last week when she was two hours late to a dinneres festival in france. she apologized for the first time. the comments were mayer's first since the incident. she says she was pleased with all the meetings and she had so far. samsung's cfo describes the company's second-quarter earnings as "not that good." these were confirmed by the company after they reported by south korean media. samsung excited to post operating profit of $8.2 billion. the foxconn chairman asking shareholders to give him time to invest in new businesses as he chases clients like tesla. key iphoneapple's manufacturer and china's -- taiwan's largest private employer. google is ready to unveil a new accordinghv box, that is to the wall street journal. trying to compete with amazon and apple over control of your living room, digital content at home. for more on this and the jon erlichman is already there at google's conference in san francisco. what's the buzz of it you will see the -- about google tv? >> in the days leading up to this event, there was a large discu

yahoos ceo's marissa mayer. >> why are we doing this?n google to open its books. >> why not general motors? >> silicon valley is the growing industry. that is where the job hiring will happen. that is where people want to see progress. >> what is your beef? >> it is the most sanctimonious bs i've ever heard. this?dak or gm do or gm do this if you are going to build your self as change, you have to -- >> there you go. nicely done. of general motors, their ceo is too distracted to worry about diversity. she will be on capitol hill today. over 3 million more vehicles are recalled. he the auto giant a good investment -- is the auto giant a good investment? >> we go inside the story and --d out how whistleblower how a whistleblower tried to get the story through and tried to tell management about what happened. >> the bloomberg businessweek cover story is just a transcript. >> you can see it on your app. >> david winters, do you manage gm shares? >> no gm shares. the auto business is a lousy business. haveconomics over time been terrible. you

marissa mayer arrived nearly two hours late for a dinner. she reportedly told some employees at the cannes advertising festival that she had fall ann sleep. mayer is said to have arrived so late that the ad firm's ceo and other attendees left before she even arrived. gentlemen. >> rude, rude, rude. >> having said that, i've been to this conference years ago, and i do recall being very tired because you go over -- >> jet lag. >> jet lag can get you. it happens. but i don't understand -- doesn't she -- she has a team of people. aren't they knocking on her door? >> i guess the surprise is nobody even bothered to make sure -- >> i don't even know if we know the real story here. she does what she wants, right? >> you mean taking care? >> stood us up without even -- we never heard anything. >> that's true. we were in davos and we were supposed to have a dinner with her. >> but more important, this was for marketers who she -- she fired the guy who used to be in charge -- >> she didn't care about -- >> we're not paying customers. >> and the rap and

you were talking about marissa mayer.big advertising group to meet with some of her advertisers in cannes, france. she was reportedly two hours late because she was sleeping, according to the report. and this is getting a lot of criticism. yahoo! needs to turn around and court those advertisers. of course, you have to wonder whether she could have done more as she is trying to engineer a turnaround. >> i don't look at her oversleeping. she's exhausted. she works around the clock. she's a new mom, right? the question is, how many employees does yahoo! have? >> exactly and where were they? >> are you kidding me? >> when she wasn't at the meeting. why didn't they knock on the door? why didn't they wake her up? >> they should have woken her up. there were clients there, key advertising clients she needed to court. it was considered an opportunity for her to share her vision and what's going on at yahoo! >> what's that? >> bad staff kills you every time, every time. >> yeah. that is unacceptable. poor thing. cnbc's sara eisen,

executive marissa mayer kept people waiting in france for nearly two hours.a golden opportunity for connections. >> can i just say, they're busy dinners all the time. you just have someone who works with you call ahead and say this person is going to be late for the dinner. >> if you need to go don't wait. >> yeah. >> i would not let people know i fell asleep. i don't know how that story fell out. >> there's no way to say can or come. >> i never have. >>> all right, cbs washington says the d.c. council voted today on a controversial yoga tax. the 5.75% sales tax on gyms and studios are supposed to kick in next year. >>> london's metro says a company that sells world cup souvenirs needs a lesson in world affairs. it confused president obama with an english soccer player. it featured the president's picture with chris smalling's name. the company blames a young worker. >> who wanted to have fun. >> i guess so. the mugs were tonight a hotel clearance center. >> that's funny. >> shows you what you can do with photography these days. >>> san francisco said the cit

s heavy use of stock options to ceo marissa mayer wants to tie future pay to performance. yahoo!'s stock in frankfurt down by almost 1.6%. now we can send in the drones. thank you. the u.s. government has grounded amazon's plans to use drones to deliver your packages. tucked away in a document released on monday, the faa named amazon as an example of what is barred under federal rules. the faa only allows these drones for hobby or recreational purposes. while it didn't cite amazon primary, the drone delivery would be construed as business purpose. >>> global markets following the u.s. close lower. the russian parliament invokes an option to invade ukraine. >>> welcome back. let's bring you up to speed with the european markets. as you can see, broadly negative. the ftse mib was trading in positive territory about half an hour, 40 minutes ago. but it's turned negative, as well. perhaps that's the giorgio chillinni effect. the underperformers of the ftse 100 and the cac 40 are off by almost 0.8%. julia will see the focus on politics, woken it? >> absolutely. we'll be focusing on the

ceo marissa mayer arrived about two hours late to a private dinner. was a chance for clients to get the firsthand update on what yahoo! had to offer. "the wall street journal" says she had fallen asleep. she was so late, some guests had already left. it happens, jewel yeah, to the best of us, especially to you and i when we have to wake up early in the morning. >> or when each other is talking. would it bother you if i said, sorry, didn't turn up for work? i guess that's the benefit to being the boss. last month, amazon cut off orders for movies. "the wall street journal" says amazon has been seeking more favorable pricing terms. the company is still embroiled in a contract dispute removing preorders of several titles including j.k.rowling's upcoming book, the silk worm. >>> coming up, one analyst says alley ban ba could be the biggest offering ever. we'll explore what's behind that valuation, coming up next. ♪ ♪ ♪ great rates for great rides. geico motorcycle, see how muou could save. >>> welcome back to "worldwide exchange." these are your headlines

my part is, will marissa mayer be a good steward of the capital? how much capital will there be? don't know specifically, although of course it's 22.6% of the company, fully diluted that yahoo! owns. they've moved around a bit but we can assume they'll sell 10% of the stake, if not more in alibaba. figure somewhere in there. you fax tax effect it. they could keep the -- >> is it over there? >> i don't know. i don't know. >> what's interesting, david new york one's talking about what she's done. >> that's the question. >> you'll have a lot of this. we're entering july. road show's going to begin towards end of july. probably going to get priced. guess on the 8th of august. >> as the road show goes on. >> also get another quarter, most likely from alibi bob ba. that being the quarter ending today. >> that was -- a slowdown in the rate of growth last time. >> they say, maybe it was because that fourth quarter took from both the third quarter and the first quarter in terms of advertising. >> my advice, be long yahoo! >> yeah? >> into the guessing game, be long. >> i like that. openin

only 23% of its leaders including the ceo, marissa mayer, are female. 15% of its tech workers are womendown by race is even less diverse. just 2% of its u.s. work force is african-american. 4% is latino. >>> tesla's ceo says it's probably tougher to create an inexpensive long-range electric car battery than it is to go to mars. last night, he says he feels good about teas law's chances of coming up with a mass market electric car in the next three years. he also says he hopes to see humans on mars by the year 2026. he's hoping for a self- sustaining city on mars which would make it less likely that humans will eventually die off. >>> we have breaking news. a landmark decision involving a controversial sports team name. the washington post is reporting the u.s. patent office has canceled the trademark registration for the washington redskins. the patent office reportedly calls the team's name, quoting here "disparaging to native americans." without the trademark, anyone who wanted to sell merchandise related to the team could use the name without permission. the redskins owner, daniel sn

first it might have impact on jd, because alibaba was the lipitor, but this cuts to how much mass marissa mayereople say, yahoo! is a shell except for alibaba. this is a measurement and if it goes lower, of what myers accomplished. i always hoped that yahoo! would get the alibaba money and then go by a series of companies making it more relevant. if there isn't as much money, yahoo! may be less relevant. >> alibaba, don't be confused, it was sequential growth rate off the last quarter, singles day, that was expected to put in perspective. full year fiscal revenue growth 52%. net income groat 305%. revenue growth did decelerate from q4 to q1 of the year, the actual year. but you know, that's because they suck a lot of the marketing spent into that period of the year. so it isn't as much there for the march quarter. jerry yang will be on. 47% of gmp, revenues up 691%. >> maybe those people who felt alibaba was going to be worth $250 billion -- they've been the leader in trying to figure out how much -- say alibaba comes in 200 billion, you'd still buy yahoo! on weakness. >> so many other names th

>> well, marissa mayer said the only thing i need is that attaching thing. but no, he'll be here.s going to tell me on it. >> he is. we're going to get to the markets and the economy right now. former treasury secretary hank paulson spoke to cnbc about his biggest concern for the u.s. economy. >> my big concern is growth. our economy has been growing at 2% roughly since the third quarter of 2009. and i think to accelerate growth, we're going to need bipartisan structural reform. we're going to need immigration reform. we're going to need tax reform. you know, tax system that gives us the revenues we need and allows us to create jobs. >> joining us right now on the markets is steve wood. he is chief market strategist for north america at russell investments. also covering the economic angle, joining us is steve rashudo at mizuho securities. thank you both for being here. joe, steve, why don't we start with you talking about the market's reaction to everything yesterday. were you surprised to see a triple digit loss? some something that's going to shake us out of the lethargy or do