it's not like alcoa. it doesn't call brain cell death but it doesn't damage the liver. it doesn't cause any sort of physiological impairment, other than the high, the inebriation in a sense. but i would just say, young people should stay away because they are not mature enough to regulate their own use frequently. well, i think that we need to have conversations with them a part of the problem is if you don't its dangers, it's horrible, don't use it because it's going to cause damage, and then they it doesn't, but if we start to talk and have this conversation about what it

it is the union that it's her job back critics i want to go to cindy deegan, laid off from the alcoant that made tire rims for gene that closed in 2008 with no option to turn to another alcoa plant and elsewhere. she enlists as a medical lab training program. we hear her daughters as well as cindy and her husband in this clip. >> what class d have today? >> i don't want to talk about it. all we have is unemployment and social security. as soon as we're done with school, unemployment will be over. that has me worried. i always wanted to be a teacher when i was my daughter's age, but i did not have any financial aid or anything. i didn't have the money to go to college. i was military for 11 years. >> christine is going to college, or military, don't know which yet. >> an early don't think she wants to go. i think it is just the financial. i will go without before my kids go without. no matter what, my kids don't have to go into the service just for schooling. >> we will be fine. >> there have laid-off worker in janesville's program to send workers back to school. i want to turn to an

liquidity via limit trade last week nice algorithm acted as a market order gone horribly wrong with the alcoa did with furious reputation and steadfast consistency was to buy at the offer and sell at the bid and other words buy high and sell low over and over and over and over again as now next look comically notes quote in the case of e x c that means losing about fifteen cents on every pair of trades do that forty times a second two thousand four hundred times a minute and you now have a system that's very efficient a burning money right to suicide bankers you know i've been warning about this for months the bankers believe in market fundamentalism and they blow themselves up in this case algorithms so or nine eleven they blew themselves up wall street did by financing i just b.c. finance the terror attacks on nine eleven those suicide jihadi bankers committing suicide and now this knight capital is committing suicide using bots this is their religion this is their theocracy it's a jihadi bots that wall street sets on itself. well the cost of this malfunction was actually ten million dollar

to disperse them by alcoa why from the bahrain center for human rights sascha western countries are more than willing to overlook the human rights problems of the or gulf allies. will definitely continue to do what we do which is documenting human rights violations will continue to reach out to the international community does seem like we are making a little bit of progress since there was a joint statement that was made at the human rights council during the last session signed on by twenty seven different countries of course the united states and the united kingdom the nuts not signed on or will keep pushing and hopefully will will start getting to a situation where there is more pressure to stop human rights violations and as long as the bridge human behind his back by people like saudi arabia i think it's going to be difficult to the regimes in the goals have longstanding relations with the west. in countries and as long as they cannot mix and q. geopolitical interests come before human rights it's going to be difficult to create pressure or to stop human rights violations and we're

he held several positions in the clinton ministration the vice president of business development at alcoa the counselor to u.s. treasury treasury secretary and he was also the managing director and global head of corporate communications at goldman sachs from two thousand and twelve and he's still still in that position and we have meredith attwell baker she was a legislative affairs she was at the legislative affairs office of the state department back in one thousand nine hundred eighty also the director of program congressional affairs a cellular telecommunications industry association and she goes on there to a few more positions and interesting here for months after voting for comcast this the contacts and b.c. a merger baker accepted a job at comcast so bars a want to ask you why become part of a government agency if your intent is to go back to the private sector anyways. money is the most obvious explanation one unfortunately. the nine. begin with a federal agency you do finish law school or business school you work for a federal agency and then you go to work for the private sect

in this particular case, the alcoa building, the structural members are on the outside of the building. so you can see it right away. what's the danger with this building? glass. good. glass. so you have your typical office. what are some of the hazards here? remember, earthquake island, what are some of the hazards? the lights, glass windows, yeah, glass we already talked about, the bad things. how about all the book stuff? building is still standing but everything else will fall right on top of you. bookcases, you want to secure those; right? this is what's going it happen. if you as nerts you went in there and got a report that there may be people trapped, where would you start looking for them? upper floors and void spaces. again, we talked about glass. are these people a little too close, do you think? did they give you a rule of thumb how far away to stay from buildings. well, actually 1 1/2 times the height of the building. so if you are in a 30-foot building -- you already did the math -- you want to be 45 feet away. glass falls out, too, do you think it just falls straight dow

one of the reasons would be a company called alcoa, the fourth worst performer on the dow up two 1/4%terial stocks. lots of other names popping up as being big losers today. u.s. steel, a national resources. this year out, has not done so badly. you can see the year to date chart is not as bad as the chart for today. alcoa, definitely one of the big losers among other stocks on the day when the negative across the devastating tryout could affect prices. how to invest around what's going on in the midwest. ashley: all right. first among some of today's winners and losers. the dow still down triple digits , but trying to make a little bit of a comeback. here are some of the winners. of more than 1 percent today. we'll be right back. ♪ [ heart beating, monitor beeping ] woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate increases ] man: a few inches of water caused all this? [ heart rate increases ] woman #2: but i don't even live near the water. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts

but the fact was when she got reynolds, once you got alcoa and the other companies coming online andproducing speed of the process, as one war production board official put it, in 1944, with the aluminum coming out of our ears. likewise, with steel. critical, critical toward industry. let's ration the supplies that we've got it and, of course, the real solution was a technological breakthroughs that were, like electric furnaces which are going to send production skyrocketing and be able to display not just us but all of the allies. rubber is another classic example. how are we going to go to war without rubber? you need rubber for trucks, for tires. let's scrap rubber drive. harold ickes, roosevelt secretary of interior was placed in that effort. we're going to build to convert all of our tires and so. don't make anymore new tires but, of course, for cars and the like that, we will just convert it all. and, of course, the stockpiles were nowhere near what the needed. they got to the point where dickies was in people around to pick up the rubber mats around the white house to go into

i also took into account the elimination of dividends in caterpillar and 3m and added in alcoa for good measure. dire assumptions to say the least. even under these incredibly ghastly conditions i couldn't see a low that took us down from where prices were. from the moment i made the call people were telling me i was crazy and i had no idea what i was talking about. [ booing ] a month later with the dow 1500 points higher these people were still ther sending me e-mails that were more impassioned claiming it was still too soon to tell. telling me i was no longer at the hedge fund and i didn't know what i was doing. if you find yourself making that argument you're digging in your heels and you should be changing your mind. this is something that's hard for the most emotional investors and traders to come to terms with. believe me. i know. it's also crucial if you want to be a better investor than you are. people do this all the time with stocks. we would never allow ourselves to make the same thing with sports. would you claim that your favorite basketball team still had a chance of comin

gold stocks, free port, alcoa, and right across the board, one, two, three, four percent. big volume on certain exchange traded funds. commodities, four month highs here, and those stocks and etfs move to the up side. put back that short s&p fund, the important thing is people have been trying to short the s&p this week, volume very high in these short etfs out there. volume was again high, bottom line is it was high because people were getting out as the market moved against people trying to short. it wasn't a bad month at all. the s&p 500 up 1.25%. there is the transports diverging from that. bill and michelle back to you. >> thank you, bob, we'll see you later. >> don't change the dial, right? >> how many hands -- remember, changing a dial -- >> not me. >> she reads a lot. >> we have more ahead on this pre labor day friday edition of the "closing bell." >>> coming up, unintended consequences, should the big banks be worried that mitt romney would break them up if he wins the white house. and shorting out, as amazon all but assured the end of stores like game stop, radio

alcoa. she put in the orders and told me to get back to the beach because she didn't want to hear more whining. the only screen she wanted me focused on was sunscreen. we used 8 back then. the market rallied some 1,000 points. call it a 50% move without real corrections. i had been fighting the wrong war, the crash. like people are fighting it now. no two markets are the same. we have concerns like whether germany would be good to its word on helping the countries in europe. the chinese, endless spiral. we were worried about the deutsche bank then and japan was doing the endless spiral. maybe different currencies, different countries. it's funny. maybe the reason i'm not as frightened as others about what i hear now is because of the heat uh i took this week 24 years ago when i b thought i was on intellectual high ground. i was in a castle made of sand. that was as if someone someone had taken a basket of hot french fries out of steaming oil and slapped me wit. something that happened to kar

last week alcoa broke out of the fine down trend. very clear. look at the charges. we can say, wow, but the commodity is going lower. china doesn't know where to put the stuff which brings me to the third negative, china itself. last week's rally was based on the rumor that china would cut interest rates last night. didn't happen. we got the spice girls. i was flabbergasted. one eye on the closing century ser moins, the other on my pc waiting to see mick jagger or the stones. nothing. abberant? i don't know about moves like jagger, but we have indices like the baltic freight index which measures actual cargo shipping and freefall. it's literally down almost every day. the suez max rates are through the floor. you can rent for a couple thousand dollars a day one of the huge ships you see out there with all the oil, millions of gallons in that. these guys are losing fortunes when they leave the docks with the boats. at these prices it's cheaper to go on one of the tankers than to take a three, four, seven-day cruise with carnival and you have more leg room. we thought

rotation market where you can look at materials, energy, beating up things like copper, things like alcoathings that have been in the trash for good opportunities going forward. that's what pushes us to new highs by year end. >> bob, what are you hearing, is this market poised to move higher? >> it will depend on what you do with the two central bankers next week. the title of mr. bernanke's speech, monetary policy since the great crisis, that is the title we will hear in one week. a lot of members support easing unless there is a clear indication that the economy is easing. it's going to view the whole thing and give a with a update. the economy improved a little bit. not enough to go ahead with easing right now. what will make the difference is nonfarm payroll. if that is weeker, that could tip the deals. >>. clint, most of the commodities were flat on the year, and you have that baltic dry index, what's going on with kmodties? >> it's very carry, they have been beaten up and trashes and a lot of it is because we have seen strength in the dollar which is going to move inverse to the eur

the dow laggards, hp down, also down alcoa, bank of america, just down a little bit, down 10 cents onhe day. at the bottom of the s&p 500 right now, robert half international, alpha natural resources moving lower down about 20 cents on the day. cliff natural resources also you have about 3% -- also off about 3%. on the flip side, leading the s&p, valero, up about a buck on the day. tiffany, so, so numbers when you dig down, the investors like it, nice 7 1/2% gain. leading the way hudson city bancorp soaring on news it is being bought by mmt bank. up higher today on that news. just as it seems we are coming out of the last recession or albeit very slowly, could another recession be looming? my next guest says certainly it's possible, but he's got stock picks that are what he calls recession proof. lance roberts, street talk advisor ceo joining us now in a fox business exclusive from houston, texas. he's smiling and laughing, but what is this talk of another recession just around the corner? do you really think that? >> well, ashley, i appreciate being here. i'm not sure if it is just a

look, alcoa, the stock, it broke out of the fine down trend. very clear. let's look at the charts. wow! but aluminum, the commodity, it keeps going lower. not higher. china doesn't seem to be buying or smelting so much, it doesn't know where to put the stuff which brings me to the third negative. china itself. last week's rally was based in part as i told you endlessly on the rumor that china would cut interest rates last night! it didn't happen. we got nothing. we got the spice girls. i was flabbergasted. one eye on the closing olympic ceremonies, the other on my pc waiting to see the big chinese plan or mick jagger and the stones. nothing on both cases. aberrant? i don't know about moves like jagger, but we have indices like the baltic freight index which measures actual cargo shipping rates and free-fall. i'm not going to free-fall. i can't believe it. i'm not giving a hyperbole here. it literally is down almost every day. as weak as freight is, the suez max oil tanker rates, the kind of ships that nordic american tankers run, you can rent for a couple thousand dollars a day one

on top of that, i also fook into the total of 3m and added in alcoa, all pretty dire assumptions to say the least. and even under these incredibly ghastly conditions, i still couldn't see a low that took us down significantly from where prices already were. from the moment i made that call, there were people telling me i was crazy and i had no idea what i was talking about. a month later, it was the dow 1,500 points higher. these people, what were they doing? they were still there. still accepteding me e-mails that were impassioned and claiming that it was still too soon to tell. telling me i had lost my rigor, i was no longer with a hedge fund and i didn't know what i was doing. if you find yourself making that kind of argument, you know what you're doing. you're digging in your heels when you should be changing your mind. this is something that's hard for the most emotional investors and traders to come to terms with. believe me. i know. but it's also crucial if you want to be a better investor than you are. people do this all the time with stocks. we would never let ourselves make th

it's not like alcoa. it doesn't call brain cell death but it doesn't damage the liver. it doesn't cause any sort of physiological impairment, other than the high, the inebriation in a sense. but i would just say, young people should stay away because they are not mature enough to regulate their own use frequently. well, i think that we need to have conversations with them a part of the problem is if you don't its dangers, it's horrible, don't use it because it's going to cause damage, and then they it doesn't, but if we start to talk and have this conversation about what it really does and why the good reasons are that they should wait, then you might make some inroads with them. and if they're drinking alcohol and using marijuana, at least they are protecting their brains from the alcohol that it is doing. [laughter] [applause] >> what are you reading this summer? booktv wants to know. i'm just finishing -- which is the first of the trilogy. i know a lot about this but it's an area i've always been interested in. she does a national of telling a story that is off told

one of the biggest losses posted right now by alcoa down 2.3%. at usaa, we believe honor is not exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you, usaa bank goes with you. visit us online to learn what makes our bank so different. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> all day today cnbc's doing globe trekking focusing on nation's beyond our border and we went far, far away from h

a number of them including alcoa, american express, bank of america, caterpillar, dupont, ge, pfizer,t, verizon. ge's four times normal volume. american express, almost as much volume so we're dealing with some very large numbers. >> bob at this point we're not seeing any outsized gains or losses in the stocks you mentioned. we're taking a look at the board of those stocks as you mentioned them. i see news crossing. let's throw up shares of knight capitol group. bob you can comment on this as well. this is stock that was getting hammered pretty well today. right now it's down 20%, that's actually off of the worst levels here. we understand now that egan jones has cut knight capital group to b, from b-plus. again ratings agency egan jones reportedly now cutting knight capital group. so we'll see if that has any additional impact in the shares of knight. bob, you want to comment on that? >> well, no, not on that rating change. but i would note that it's important that they have, they have now identified a technology issue, not exactly what the technology issue is but they've identified

but the fact is once you got reynolds, alcoa and the other companies coming on line and speeding up the process, as one war production board official put it, we've got aluminum coming out of our heres in the process. likewise with steel. critical, critical to war industries. let's ration the supplies that we've got. and, of course, the real solution was the technological break throughs that were coming like electric furnaces -- not just us, but all of the allies. rubber is another classic example. how are we going to go to war without rubber? you need rubber for trucks, for tires ask all these other kinds of things. well, lets scrap rubber drive. harold ickes was placed in charge of that effort. we're going to be able to convert all of our tires and is so on. don't make any more new tires, we'll just convert it all here. and, of course, the stockpiles were nowhere near what they needed. ickes was sending people around to pick up the rubber mats around the white house to go into the stockpile for war. what was the solution? synthetic rubber. and the coming together of chemical companies

goes to that, some of these valuation say maybe it's fair at 13. 42 billion, what is that like six alcoas? >> you think it's a 20 billion company? >> i have no idea. i pros can catch falling knives too. how do they know? they don't. i think they are thinking wow, with google you never were able to get in. came in at 80 and went up sense. it was a transformative company. facebook looked like it was having that potential. they think they are getting it at half price. myspace was not cheap at half price, of it? >> no but this is now impacting the company. >> bet it is. zuckerberg, he can act arrogant at 27 for a while but sooner or later people are going to start looking at him like i used to have money. i used to feel i was a millionaire. >> employees can knock it out. >> i used to feel flush. >> he was worth a lot more too. anyway he's fine. "wall street journal" reports that the facebook founder has acknowledged that the stock's rapid decline is sort of a painful thing to watch is what he called it, company wide meeting last month. the meeting was part of an effort to boost morale. the wh

being dragged largely by strims, utx, cat, alcoa and some banks as well.when we come back, the official obama campaign response to paul ryan's speech last night. back in two minutes. at bank of america, we're continuing to lend and invest in communities across the country. whether it's supporting a delaware nonprofit that's providing training and employment opportunities, investing in the revitalization of a neighborhood in the bronx, or providing the financing to help a beloved san diego bakery expand, what's important to communities across the country is important to us. and we're proud to work with all of those who are creating a stronger future for everyone. >>> just over an hour into trading at the floor of the new york stock exchange. 7:35 on the west coast. 10:35 on wall street. fwood morning. shares of amazon.com hitting new all-time highs. announcing the kindle fire tablet sold out in just nine months. >>> different story for groupon. declining to new all-time lows. $4.22 a share on today's session. groupon now down more than 79% year to date. org