but, at resale, we do not take into consideration in the sales price, the hoa dues, and so the sales price is based on ami. and so, the next person coming on board, has to be able to afford that ami sales price, plus, afford the hoa dues. and so, you know, that is a huge gap. when it is $2,000 a month, taking up like 85 percent of their affordable payment. and so that means that they would need in order to afford to buy those units they would need that much down payment assistance to be able to even afford the unit at the resale price. and so,, it is sort of a big bang for your buck, i think would be much more useful to have those extra 44 units because of those large, and another impact is that where we will require the folks to put 5 percent down and so when they are putting 5 percent down of the total sales price. and 5 percent down of $100,000, and then they are only going to get back, and they might not recoup that even the initial investment and no less, the other benefits of home ownership. and so i encourage you to take the money and run. thank you, any questions? >> i am sor

we can actually come to people's what the let you know resale value is and take the items away and dong. which is a lot easier than bringing things to a store and waiting to get your check. it is clearly a disruptor. it also gives liquidity. and transparent liquidity. >> your bio says you are passionate about high yields. would we find any louis vuitton shoes in your closet? >> i absolutely have high high heels because i'm short, short. i want to be able to reach things when i get to the office. when you are 5'3", adding four-inch heels makes you high level with most people. is thee wainwright founder and ceo of the real real. joining us from san francisco. it has been a pleasure. thank you so much for your time. stay with us. we have another check of the market movers on the other side of the break. we are seeing stocks being sold off. dow jones industrial average down to earn 61 points. -- down 261 points. "bottom line" continues in just a moment. ♪ >> get the latest headlines at the top of the hour on bloomberg radio and streaming on your tablet and on bloomberg.com. mark crumpton

. >> first that's the first i've heard sub meters they're not used for resale that's the first time i've heard that. >> sir, do you have anything. >> we've had where we've gone out and forced some sub metered building and they've put meter in the only ways to accept those if they're done by ways and maples and they're okay and we get certification of that it needs to be done yearly and if failed they'll industry the meter. >> that's the department of public health. >> so that's treat the same way as the business of scale. >> yes. if there're stale scale is off they come in and if it is checked and doesn't comply they take it out. >> it that done on a single-family home. >> no. >> they're not quote/unquote to industry the meters did that come out like an mischief active interpretation by dpw. >> i don't know. >> we'll look at could you connect with jeff in my office we'll look at supervisor cohen. >> yes. i want to acknowledge shawn's commits i appreciate i calling up the department heads it so you would the describing of meters is a common practice that's universally done no one industry

americanly store in that buys and resales unclaimed baggage from the airline industry.een doing it since 1970. you never know what you're going to find. stocks 7000 items every day from an inventory of unclaimed baggage and cargo. through decades long purchasing partnerships with air carriers, train lines, and bus lines. bags are purchased. whatyees the term and to sell, clean, donate, or throw away. not as easy as it sounds. >> oh. girl.he was a good >> anything that says coke has a good resale value. these are her jeans. she was not a great dresser. and one is dry cleaned of the largest dry-cleaning operations in alabama. of defenseent protocol is used to clear data from electronics. many high-value items, with appraisal papers. baggage does not sell anything online. there is only enough inventory to support a single brick and mortar location. a bucket list destination for many and a top tourist attraction. >> i'm from california. >> how do you find this place? >> an app. >> where you from? >> michigan. >> outside detroit. >> on our way to san antonio. items list of u

. >> this is not a hey let's resale this thing to google and get out exit. this is a slow growth salad dressing. >> no, i disagree strongly. i disagree strongly. what i was saying before, the m and a market was twice the size. >> we were going to be bought out by -- >> you're twice as likely to have it happen. >> that's fantastic, the stock markets like almost in bare territory now and that could all go away. bear in mind, even four year return might stretch if things decelerate. more interesting to me is how much disclosure do you insist on from these companies? doctor are they audited, do you trust the numbers? how do you have any way of knowing that what what they're telling you is true? >> we do checks on the companies themselves. in the terms of the information they provide to investors that'll include the financials, historical, and going forward. >> are those audited? >> never. typically a small business -- >> thank you for being clear. >> typically, entrepreneur at that stage is not auditing their books. >> yeah. >> what we do do is check the numbers

founding the company, he was product manager at premier systems, which is an information technology resaler and consulting organization. he was named entrepreneur magazine's 2013 sbrentrepreneur the year. welcome to the committee and look forward to hearing your testimony. >> chairman graves, ranking member, and members of the committee, i'm patrick o'neil. i invent ed the clip-on lens fo the iphone. i'm grateful for the opportunity to speak with you on the use of 3-d printing and how it's helped a small business to go from kitchen start up to selling in every apple store worldwide. i have spent my career in the technology industry. i hold over 30 patents and 3-d printing has enabled us to produce at a rapid pace. it's kept jobs in america. in creating this it product, i wanted to give the ability to people the aublt to use the iphone to capture photos. the design was inspired by the philosophies of steve jobs, simple designs. since the start we employed this simple design philosophy.qkyló % at the beginning when the design studio was in my kitchen, we used a 3-d printing company. i would a

lauren learner, who says online resale outlets are the new megamarketplace.he's made over half a million dollars since she began selling used clothes online a decade ago. >> you can have this big pile of stuff in your closet. i see it as green. i see it as money. >> reporter: her first tip, snap at least two pictures of the item you're trying to sell online, front and back, so there are no surprises for the byer. tip two, keep it clean and size matters. be as specific as possible as the fit and fabric. >> describe it. you want to take into account if it has a tight fit. if it runs small. the fabric content. >> reporter: tip three, sell seasonal items on resell sites. >> you want to sell winter jackets, northface, uggs. anything can you bundle up with. >> reporter: and finally, that word, bundle. sites like thredup or twice will send you a bag to fill and then they price and sell the items and donate what they can't sell to charity. which is a beautiful thing for a busy person. >> yeah. >> they will send you this bag. you pack it up, you do not have to worry a

would you open up a nike second-story platform where you can resale and capture those profits? we are focused on trying to capture that secondary market. that is always going to happen when you have a popular brand where products sell out quickly. are there some things we can do to take advantage of that? possibly. that has not been our fixation. it is to create the best product we can and let the consumer decide. >> is there another way to work with apple again? is an extranet rebrand. nike is an amazing brand. it seems like a marriage made in heaven. >> i'm quite bullish on our relationship with apple. tim cook is on the nike board. with steve jobs. as i look ahead and what's possible between nike and apple, two amazing brands, technologically, we can do things together we could not do independently. that is part of our plan. to expand the whole digital frontier in terms of wearables and go from what we say is tens of millions of uses. >> do you believe wearables are the future? >> i think it will be a big part of the future, absolutely. what form it takes is the big question

what they're working to do is moved an old style catalog business into a digital company for resalers. >> are you a technology company? i ask that because retailers like next, which have two arms of what you're talking about, i.e. catalogs and indeed online, they trade on a retailer's multiple. i'm wondering which you are. >> we're a retailer. >> i was going on to say, we're a retailer of the department store. technology is massively important to us.. we're all a financial services provider. >> what's it like in that business? bear in mind, there's a lot in the banks. >> within the uk. we've returned the business to top line growth, meaningful top line growth this year of 3% for the group overall. under the bonnet of that, there's a story which is our largest single brand and m-commerce, mobile commerce, which we think we have a lead on that. >> what do you sell on m-comme rr ce? >> we're a retailer, so we sell growthing, footwear, the products, the whole nine yards. >> once you get past the mcommerce, what next? >> a kind of online lay away system? >> it's an online department store.

tickets for the game went up almost 6 percent since yesterday on ticket resale tip iq. average price ready for this. 12 81 a ticke ticket. >> east bay c vl hp officer investigated for sending nude picture from a dui suspect smart phone to his own. if laura has the story. >> she just wants if justice for what has been done to her. >> dui charges against young san ramone woman dropped but now her attorney says she wants charges filed against the chp officer who arrested her. for computer theft and invasion of privacy. accused officer 3 35-year-old shawn harrington. 5 year veteran of the chp. he asked for her password to get a phone number for her to call somebody during the period of time. he went through her private photo. and transmitted as many as 6 photographs to his own private cell phone. >> attorney says the incident happened in august. after the 23-year-old woman was pulled over by the dublin bay on interstate 6 80 near the about if exit her. she was taken into custody for suspected dui transported to the main jail martinez. that's where she alleges officer harrin

they've been given to me by a resale shop or friends that bring them to my house because they've alreadyave a full-time job. and i've been doing this every thursday for seven years. here's one, darling. okay. >> richada crawford says when she was a girl, books played an important part in her life as well. she says she was a good student, but things changed at home when she announced in sixth grade that she was gay. >> people love me at school, people love to be around me. but my mother, why must you down me, know what i'm saying, for being gay, for being who i am. when you think of your mother you think of the person that's going to be there for you, that's the person that uplifts you. you get picked on at school she say everything okay, you're still beautiful. but growing up, it was the other way around. >> crawford says other problems at home, including suffering sexual molestation from a family friend, caused her to lose the things that she valued and that her rage led to crime. >> it got to the point i was rebelling against everybody. i felt like i'm going to be hurt i want everybody

it claims automakers multiple recalls are hurting resale value of gm cars.he suit seeks up to $10 billion in damages. here to weigh in legal analyst kent zimmerman. what are the details of this lawsuit? what are they seeking? what do they want? >> this group of owners and gm cars and leased gm cars they want their money back. they say because of all these safety issues, because the way gm handled these cases and the cars lost value they should get that money back. if it actually went forward and they woulddbe able to prove their case. this would be monster problem for gm. 27 plus million people. gerri: that is big number, that's for sure. >> it is enormous. here's the thing, and i remain unconvinced about evidence in this case so far. the people who own cars woull have to prove through attorneys both values of cars decreased and prove it decreased because of gm safety issues and way they handled these case. how would you do that? gerri: it is a big hurdle. let me interrupt you for a minute to talk more about this case. >> sure. gerri: because the track recor

>> definitely the business of resale. we do the remarketing, that is where the money comes from.ive them the money back, we get a broker's commission on that. much more money in the repo business, i'm hoping people listening to what you are saying to balance that. stuart: are you ever close being covered by somebody? >> nfl player coming in. we've had a lot of fun stuff. stuart: didn't you once jump into a plane and fly it off as the owner was drinking coffee? >> i had a manager who chased down the taxiway as we were taking off. we had to lift off probably quicker than we wanted to to get above the car. stuart: you specialize in planes? >> that is what we are known for. if it is big and expensive, we will take it. stuart: the star of "airplane repo." at 10:00 eastern friday night's, discovery channel. highly rated. do you know how valuable the promo i just gave you? good stuff. danica patrick, only female driver in nascar on the show next. o? are you kidding me? everybody's on woo-woo! [elevator bell rings] woo-woo? lock and load, people! we're going all in on woo-woo! mark! comp

we have re-still -- resale redevelopment in a portfolio and we continue to rollout energy efficient spacestendance and that is a big attraction for folks coming in, driving higher rent for us. theony, did going public, publicity around it, and just the attention, did it help bring tenants into your property, not just the empire state building, but others, just because it became that much more public? >> i would like to think so. we have seen fantastic new tenant. the robinson foundation took a full four at one grand central place. macy's. these are all new tenants since the last time we spoke. ofse are all terrific mixes tech,rofitable advertising, media and internet tenants, profitable ones, and and successful traditional companies. we like the mix and increase visibility has helped the portfolio. >> when you say high burn rate companies -- when you think about eager tech companies like -- bigger tech companies like uber and buzz feed getting these huge valuations -- we had the alexandria real estate ceo who just did a deal with uber to develop a project in san francisco, a 15-year lease

[laughter] it happened aboard the ocean liner as resale from york to paris review was embarking on a attache at the american embassy as correspondent for "newsweek". four years later by parents were divorced and my mother and i returned to u.s. settling in boston. decade back to washington as bureau chief for "newsweek" to join the post in 1965. he remarried and i began a routine of coming down to d.c. for visits mostly in the summer. but would stay for several weeks at a time hanging out with his new wife and her four children from her first marriage they were my new step brothers and sisters. i did not see that much of data during this period because like many men of his generation he was making his life professionally working well into the night. i was never there then but in those ensuing years after graduating from college dad made a from those long absences and we reconnected to make up for lost time. in 1971 when i was in the peace corps after afghanistan he flew to the a their side of the world to visit me. when my first child was born on a cold to irrigate 1981 he came up to

bottles of champagne, some great stuff from 1984, 1985, put it in going on aclaim your picnic, and then resalethetically offering that is a connection. >> i know you saw a lamborghini that was silent. that is him was contrary to why you would buy a lamborghini. what are the coolest things you are seeing? i think the lamborghini concept car was pretty interesting. it had the roar of a lamborghini. then they did something silent. they pushed the silent button. it is part of the entire industry going electric. they really do need to figure it out. regulations. how much you can name it. if you will have a lever to me that has to meet the criteria, you are going to have to have something that switches the sounded little bit slower. i have totaled audio engine will come back . ♪ >> we have got some breaking news right now on softbank taking a hundred $50 million stake. sun buying his way into the movie business. the telecom giant announcing it will take a stake in the company that made such movies as the hangover and even -- the first one but also the second and the third. and some batman pictures.

the man told a los again a 10 year-old girl walking the dogs or resale man exposed himself as she wonthe touch the girl then ran hall man officers responded the never found him. similar to an incident monday afternoon along the 1600 block of got bradstreet man in a truck sports and sells to a 14 year-old girl this by two different vehicles police say it is quite possibly the same guy >> : is the same person and then he is elevated his activity in the first incident talk to anyone on this one he specifically when the draw someone's attention. as the concerned are the same person he is elevating his behavior airline description of a man last night incident white man brown hair late 20s and early '30's seem less night driving older white four-door sedan called the police also toss until this case is solved and bringing additional officers run up patrols both incidents occurred. >> : warmer out there today than we expected things to more sunshine sea breeze was quite as strong as the computer about showed yesterday more sunshine here bay bridge toll plaza or sunshine also downtown service

local law enforcement agency where he was held on a hundred thousand dollar bond and next we have resales, founder and director of the national nonprofit to bring this for economic justice. and she stood at the forefront in exposing these has resulted in more than 1000 cases. there is a higher education professional and she most recently served at the florida department of juvenile justice and the florida court and she works with colleges would hear and educate the process. next, we have daryl parks. he and his law firm distinguish themselves in successful mediations. he protects and defends his clients including msnbc, fox news and others as well. we have lee ivory. most recently he was an adjunct professional in washington dc and he is also the regional director for the national association of lecterns. and i have some good news for you all as well as the panelists and as you can see, my brother is not the moderator of this panel. and so that is good. [laughter] >> and i actually want to tell you where it we are going so folks have a roadmap and i want to break this panel down. i first

we called in an expert who said online resale outlets are the new mega marketplace. >> hole low!e and a half ago. >> you can have this big pile of stuff in your closet. i see it as green. >> reporter: snap at least two pictures of the item you're trying to sell online front and back so there are no surprises for the buyer. tip two, keep it clean and size matters. be as specific as possible about the fit and fabric. >> describe it. you want to always take into account if it has a tight fit if it runs small. the fabric content. >> reporter: sell seasonal items on tradesy and poshmark. >> you want to sell winter jackets. northface, uggs, anything you can bundle up with. >> reporter: and that word bundle. sell them by the bagful to save time. sites like threadup.com and twice.com will send you a bag to fill. they'll sell and price the items and donate the rest to charity. >> they'll send you this bag. you pack it up. you do not have to worry about a thing. >> reporter: only selling for a few hours a week, it's been a perfect fit for brooke, cashing in on $1200 in her first year. paul

. >> and also for you with the mass production because you are going from the wholesale to the resale model. >> it's a totally, to me what is needed is going into that whole thing of reusing machines and a different approach, and it's just it serves what my interests are a little bit better and i think it serves the customer's interest. no one came to us saying i want cake in a jar but based on the feedback this is the element that kind of solves problems people have. >> have your cake and take eat it, too mac. >> you will all be able to have -- we couldn't have could have talked about this without providing you the chance. you can now pretend nothing that he will go out and you will learn something about cupcake cleanliness and truth in cupcakes from a very admirably entrepreneurial warren brown. [applause] >> thank you both. now we have a lineup for you and we have to in credible sessions about to come for the rest of this first morning of the washington ideas network from investigations over the financial collapse of 2008 to the gunrunning investigation called fast and furious to t

founding the company, he was product manager at premier systems, which is an information technology resalerand consulting organization. he was named entrepreneur magazine's 2013 sbrentrepreneur the year. welcome to the committee and look forward to hearing your testimony. >> chairman graves, ranking member, and members of the committee, i'm patrick o'neil. i invent ed the clip-on lens fo the iphone. i'm grateful for the opportunity to speak with you on the use of 3-d printing and how it's helped a small business to go from kitchen start up to selling in every apple store worldwide. i have spent my career in the technology industry. i hold over 30 patents and 3-d printing has enabled us to produce at a rapid pace. it's kept jobs in america. in creating this it product, i wanted to give the ability to people the aublt to use the iphone to capture photos. the design was inspired by the philosophies of steve jobs, simple designs. since the start we employed this simple design philosophy.qkyló % at the beginning when the design studio was in my kitchen, we used a 3-d printing company. i would as