it's like netflix streaming but offered by amazon. when you combine that and the free shipping it's a great deal. amazon was able to not charge sales tax before now being not having a physical presence in california because they had no affordses affordses -- no addresses here they did not have to charge taxes. it is unfair, many people have developed a habit of shopping on amazon or other sites and are not visiting their local stores as much. so california will reap a lot of money from this. it's expected to gain $150 million in sales tax on this. now that amazon will collect taxes, it might as well open shipping warehouses here. and it plans to. two warehouses are being built that will bring jobs to california. in the next few years they will have as many as 10 distribution centers staffing thousands. having these warehouses here will mean quicker delivery of items if you do continue to purchase on amazon. gabe slate, kron4 news. >>> we're expecting mostly clear skies, some patchy fog but over all going to be lovely. then even warmer

that about amazon. but they just keep coming back and amazon keeps coming back saying now he, we're in the business of long-term transaction driven revenue. we're okay with a thin margin. and these devices, no exception. they're going to make, they make any money at all it will be very slim off the device itself and basically preempt any concern with that by saying in the event today, you know, we're going make money when you use the device, not when you buy it. now people at apple can say well that's ridiculous. we can make money off our devices. well, but it also means that apple now is going to have to reconsider its pricing. that will be a challenge on apple's performance on wall street. >> by the way dow expect any big price changes for instance, with the -- >> i don't think that apple is going to respond quickly. it's not their modus operandi, they don't like anyone to perceive they were pushed to do anything. we will see it gradually and it usually be justified in terms of feature enhancement. >>

when that happens, what will happen with amazon?> you would think that would be the case, but max wolf says you can count on it, amazon will be affected, but jay couldn't disagree more, max, it's just a tax, what kind of impact are we talking about here? >> we have done test cases, this is happened in about 16 other states. consumer goes online for selection, convenience, sexiness, and price. the tax reduces margins on the margin as it were, and this amazon model which is very successful, we like long term, is a razor thing profit margin. >> so you're saying sales will be heard? they will be lower? or simply that amazon will be less profitable. >> people will not buy more because the taxes are up -- >> but will they buy less? >> we don't believe less, but more will go to california and not amazon. >> one of the things he pointed out was convenience. this is a situation where suddenly it will be more convenient for consumers. it looks bad at first, but it's actually frees up amazon. now they will be able to put distribution centers i

los angeles 1 million square feet and allows amazon to get items to customers quicker. it expects to offer same-day shipping another blow to breck's and mortars businesses like this computer store in pasadena he is relieved amazons tax advantage in, is gone >>> do you think they'll see more customers? >>> absolutely that savings will be there >>> ben tracy cbs news >>> oakland police department runs into a staffing problem at its lowest level in more than a decade the city has 631 officers, down from 643 earlier and a high of 8374 years ago. it mandates overtime and consolidates patrols and cuts down on curfew enforcement the chief says numbers will continue to decline until a new academy graduates in january. san jose state won students to watch after an attempted robbery reported on campus. four or five men tried to rob a man on campus at 1:15 a.m. yesterday morning one of the suspects pulled out of pocket knife the victim was not a university student and got a white. the university urges students to walk in groups and utilize safety escorts the waterways known as the

lawmakers amazon will charge sales tax september 15th in the first year amazon should generate $150 million in revenue >>> thank goodness we are leveling the playing field >>> amazon argued it did not collect sales tax business is not have a physical presence in california but it pointed to a laboratory in cupertino that develops the candle. it is gobbling up high- visibility office space in sunnyvale and amazon broken ground on a distribution center in patterson, the company did not return phone calls for comment. she says it looks like amazon coming out of the shadows >>> are you saying amazon is being a good guy because they're forced to? >>> yes they did not come into it on their own. >>> that is a bummer, >>> customers grumbled about the tax but get that california needs the money >>> bobby rush out and buy stuff on amazon? >>> no. >>> in san jose kiet do cbs 5 >>> a bay area cattan decided to gamble when she hitched a ride to reno with their owners neighbors going on vacation the stow way can the neighbors believe she hopped into the trunk for a cat nap. security at the circus

a typical amazon prime users spends six times as much as a non-amazon user. to answer your question, what's going to keep driving this? just the adoption of prime. >> gene, it's josh brown. amazon spent years and years and years fighting legislation about paying taxes. it was such a huge deal to them. all the sudden they seem to have shrank away from that. what do you make of that? what impact might that have in the next year, two years, rather than try to figure out what the next ten points are? as an investment, should we think about that at all? >> it's definitely something to think about. it's probably going to impact the stock in the next year at some level. a lot of these tax benefits these holidays will start to roll off. about half of amazon's revenue is currently from customers that don't pay sales tax. figure in the next few years that's going to go away. that doesn't make amazon as attractive as an option. what we have seen is in markets and state where is amazon has been collecting sales tax, those growth rates, after the first year they decline,

there are a few secrets about amazon the many people do not know.e that is coming up in my tech report. >>gary: coming up later, the new orleans saints suspension are overturned. [ woman ] ring. ring. progresso. your new light creamy potato with bacon & cheese soup says it's 100 calories a serving. that's right. in what world do potatoes, bacon and cheese add up to 100 calories? your world. my world. ♪ [ whispers ] real bacon... creamy cheese... [ whispers ] 100 calories... say it again... [ whispers ] 100 calories... ma'am, hello? ma'am [ male announcer ] progresso. you gotta taste this soup. >>pam: many californians are on amazon scooping up items before the popular one side starts charging a sales tax. after september 15th a 7.25% sales tax will be added on the items to buy from amazon or other electronic retailers. >>gabe: it is the end of a glorious era. i love a finding amazon boxes at my door because i now have saved money. on average if you can save 12% from buying in item 3 amazon. instead of going into a store and buying the same items. a

amazon does not plan on keeping taxes on its vast network of vendors that often ship under the amazon name from out-of- state >> if you have no presence in the state it is very hard to collect taxes from you so those entities not in the state have the option of not paying taxes. you are supposed to be voluntarily paying those taxes yourself to pay them >> the state of california is gearing up for this. the state board of equalization is hiring new auditors to make sure people were supposed to be paying the taxes are paying the tax. >> crafty crux are switching out vehicle identification plates that uniquely identify your car so there is virtually no trace that the car was ever stolen. julie wants shows us out happened to the mother of five. >> she has been forced to hitch a ride to work every morning for a month >> i'm feeling helpless right now. >> she just learned that the chevrolet tahoe she just bought had been stolen before she bought it. the vehicle number had been switched out and the dmv has confiscated her family's only car >> i was waiting for aston to come out like a are yo

amazon held a news events. " gabe slate shows us the new amazon gets its. >>gabe: this is the new kindle fire 8.9 in. tablet. >> it only with 20 ounces. >> it as more stores to the device and has more bells and whistles. amazon is offering the fire for $200 cheaper than the ipad. that is hard to resist. >> what is the ultimate tablet feature? 4g elsie wireless. >> amazon is also releasing a higher and 4g version of the kindle fire tablet to be connected at all times and not be depended on wi-fi. $50 flat for a year of service. sphere the new kindle fire tablet will cost $2 and ships september 14th. the >> if you do not need a built in light or the latest greatest, amazon wall for the new entry-level kindle touched the reader for only $70. >> we are expecting another beautiful day tomorrow, slightly warmer than today with '60s at the coast some 70's for the bay and '80s inland. we will take a quick break here and be right back. it's >>pam: and the dnc wraps up tonight. tonight, the president made his case for reelection. kron4 has a full wrap up along with i

for now, he's relieved amazon's tax advantage is anyone. do you think you're going to see more customers? >> absolute. if they're in our store anyway looking at stuff the savings won't be there. >> reporter: b.j. gallagher is sticking with online shopping because it saves her time. >> i'm grateful i haven't had to pay sales tax, but, you know, my city's broke. my state is broke. my country's broke. a little sales tax from me, i'm perfectly willing to pay it. look at that "no tax." >> reporter: but her tax-free buying binge is now over. ben tracy, cbs news, los angeles. >> brennan: coming up next on tonight's cbs evening news, william, catherine are, and the controversial photos. wife catherine, the duchess of cambridge, continued their southeast asia tour, commemorating the queen's 60 years on the throne. today's visit included a look at one of the world's biggest rainforests, but as seth doane reports, the couple is also wrestling with the unwanted publication of some sensitive photographs. >> reporter: the duke and duchess of cambridge st

amazon deridgible.s the future, ladies and gentlemen. >>> let's talk about jeff bezos and the company. the stock as we just mentioned a moment ago rising with the market. all-time highs for amazon. he is the man of the moment on stage right now. unveiling products to help push amazon to the next level and landing ironically or maybe not ironically making absolutely intentionally on "vanity fair's" new establishment leaders list for 2012. the list in the new issue. it hits stands today. and one of the first things you notice is that there's no longer a who's who of bhood. it is now the biggest names in technology. and business. in the new establishment. take a look at the top 50. i looked for my name. and i looked and looked. only tyler i found there in the fourth column was tyler perry. well, that's a way it is. there you see. cook and johnny ive. and number three, jeff bezos looking across there. peruse it. let's talk to betsy lark of "vanity fair" and mr. bezos. why is he so compelling and establishme

amazon is amazing for is personalization. how about if you have to pay $200 to not get interrupted and i only have to pay $2 to not get interrupted? >> reporter: andreas weigend was amazon's chief scientist. now he advises companies on social data and consumer behavior. as technology gets better at figuring out where people are and what they might be doing, weigend says companies like amazon might be able to time ads to when customers are most likely to welcome the interruption. and consumers might respond differently if those ads are truly customized. >> in this world of immensely rich social data, data people create and share, we can actually pay to see ads. >> reporter: and the pressure on ad agencies to be funnier and more creative will grow. >> if advertising is now the default monetization model for digital media, the ads better be pretty good if you are going to take people's time away. >> reporter: amazon seems to have gotten the message. the company says it expects a very small number of customers to opt out of adver

. >>> amazon will slap a sales tax and less than one hour on california shoppers we found a loopholeo let you get away without paying debt. >>> for five years and lived with this >>> how bionics suit invented in the bay area helps paralyzed people okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my mother was so wrong about you. next, we get priority boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. this is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with special perks on united. get it and you're in. in the people, businesses, and organizations that call the bay area home. whether it's helping a nonprofit provide safe, affordable housing within the city, supporting an organization that's helping kids find jobs and stay in school, or financing the expansion of a local company that's creating healthier workplaces, what's important to the people of the bay area is important

customers are not happy. >> the reason we buy stuff on amazon is because there's no tax or anything. but they put a tax we might as well by at the bricks and mortar store. >> it is expected to boost the california budget by $158 million in the first year alone. >> when you lose sales tax revenue that means it affects your loans, the resources for local government, the resources for education. >> there is a legal loophole that could keep bargain hunters happy, amazon does not plan to collect taxes on third-party vendors. they're often small stores that sell and ship under the amazon name from out of state. >> if you have no presence in the state than it is very hard to collect taxes from you and so those entities that are not in the state have the option of not paying taxes but remember that your suppose to voluntarily pay those taxes yourself and there is a risk that someone may not on your door and ask you to pay. >> buyer beware, california will be ready, in fact the state board of equalization has hired 35 new auditors to make sure that people are not avoiding the taxes they shoul

. >>> amazon will slap a sales tax and less than one hour on california shoppers we found a loopholet you get away without paying debt. >>> for five years and lived with this >>> how bionics suit invented in the bay area helps paralyzed,, >>> a bay area teenager has died after taking part in their ritual in the peruvian jungle 18 year-old kyle nolan of sebastopol went on a spiritual retreat in the jungle region in august we did not come out his family went looking for him. >>> no one has seen from him or heard from him he has not left perot according to immigration that is like he vanished nose on a thin and where. >>> it took a while we know what happened, a shaman told them that no one died after drinking a hallucinogen that broke and tried to cover a up by bearing the body. this video shows the shaman leading authority's to the remains to other men are under arrest the drug that nolan allegedly took contains a compound that is similar to lsd and illegal and united states. >>> hundreds of people forced to stay in their homes in san jose and other stuck in traffic now we know why, a

it looks like amazon is coming under the shadows >>> are you saying amazon is being a good guy because they have been forced to? >>> yes they did not come into it on their own would ever come clean kind of thing so. >>> that is not a good thing >>> customers grumble about the tax but get that california needs the money >>> kiet do, cbs 5 >>> nearly one in every three americans have high blood pressure most cannot have it under control new research suggests wind might help. dr. kim mulvihill explants there's a twist >>> light to moderate drinking can be good for your help a new study takes a look researchers studied 67 men at risk for heart disease they ate the same diet plus beverage revlon and non alcoholic red wine or 3 ounces of liquor. all of the man tried all the beverages there was a little reduction in red wine face and no chain up drinking it jan, after drinking on alcoholic red want a six point drop in systolic and two point drop in diastolic blood pressure. this cardiologists at ucsf: >>> something in red wine but not the actual alcohol that was helping to lower blood pressur

washington state because amazon is there. there's about another maybe seven -- six more where it's been enacted. no, we're not the first. we are, of course, the ninth largest economy in the world. 10% of the u.s. population. it's a huge market. so what happens in california is really important, how it gets implemented is going to be watched in washington. one question i have is does this put more pressure on the congressional leaders or less pressure on them to pass their own kind of national plan. >> once a deal like this is in place, doesn't it enable amazon to put a distribution center in california without worrying about tax implications and offer fast delivery and more competition to brick and mortar businesses. >> part of the deal was two distributions in san bernardino and patterson. some people, critics of amazon said they basically traded the sales tax benefit for the warehouse benefit, the faster delivery, the things you really want. they basically made a decision, this is according to some, that we want fast more t

to collect taxes of products sold by its third-party vendors there are stores that chip under the amazonnd from out of state. >>> if he had no presence in the state it is hard to collect taxes those entities not in the state are supposed to voluntarily pay those taxes. >>> let the buyer beware california will be ready the state board of equalization hired 35 new auditors that people who should be paying the new tax are paying. len ramirez cbs 5. >>> the weekend is here how map it to report weekend whether spectacular '80s inland seventies at the bay maybe your heading out current temperatures this is the approach to the bay bridge. mid-60's for livermore and concord santa rosa dropped down to the upper 40's. you are currently 55 san jose 59 san francisco 56. lots going on this weekend including the festival in downtown lafayette opera in the ballpark saturday night will be chilly and likely dry and cool and pleasant. satellite radar revealed the cloud cover offshore begins pushed inland. mostly cloudy for parts of the bay to start the day lots of sunshine to finish the day. high pressure

as you will not get as good a deal on amazon next week but, there are a few secrets about amazon that many people do not know that i can share with you to help you save bay. rachel and sam have a house. now they want a home. a home where everything feels like it's designed just for them. where the styles they love fit into the wallet they have. big or small they want furniture that makes life better. that's why they visit us. we're more than a home improvement store. we're ikea, the life improvement store. >>pam: the democrats locked up their national convention last night. as the president heads the campaign trail again, a new jobs report is adding some extra baggage. >>catherine: the president laid out a long-term blueprint for revival, asking for more time to carry out his agenda. >> i never said the jersey would be easy and it will not promise that now. our path is harder, but it leads to a better place. >> the president was faced today with the release of a disappointing jobs report. job growth has slowed noticeably, 96,000 jobs were added which is your the expected. the jobless

it's part of trying to compete with basically amazon. every retailer on earth is trying to figure out what am i supposed to do online, how do i become successful, how do i not give up my entire business to amazon or e-bay? they are all trying to figure out the best channel to reach consumers. fortunately for silicon valley, there's another company, facebook, google, pinterest. >> the pinterest got my attention. your data said it did not pay off. it's not driving traffic, but not driving buying traffic. >> that's correct. there's a lot of reasons for it. certainly not their fault. they are hugely possible and a lot of people are interacting with them and a lot of sites are getting free visits from pinterest, so that's great. the stores are trying to figure out how do i communicate with that visitor that comes from pinterest. we're seeing it's well behind things like facebook and twitter. >> my perception is that what i've heard in the field is that small business have more success through facebook than larger ones. there's been a series o

we are in the amazon, not far from bolivian border. duda mendes lives here. and the region is also home to the latex tree. mendes is a rubber tapper. the latex extracted from these rubber trees is used in condom production, here in the amazon. it's a source of income for the locals, and has other benefits as well. >> the condoms offer protection from sexually transmitted diseases and help in family planning. but i'm done having children thanks to this latex and condoms. we call them little shirts. >> the sleepy town of xapurÍ was home to the famous environmentalist and activist chico mendes. he was murdered over twenty years ago. this small blue house is where he lived. today it's a museum. duda mendes is chico's cousin. he often visited him here in this house. chico mendes was the first activist to draw the world's attention to the ongoing destruction of the amazon. he was a leader in the battle against deforestation, but always by peaceful means. he was even honored for his work by the united nations and singer paul mccartney dedicated a song to him, after

compete against amazon.t the settlement will basically give amazon its own monopoly. well as seeing a bit expected drop. let's go to sandra smith and today's trade. >> reporter: there was a very, very bullish will report out this morning pushing oil prices up the dollar 50, a couple percent higher. real skin in the game from the trading group. you were actually short while right now. feeling that it's pretty bullish and burgoyne to top hundred dollars. >> were coming up to some major resistance at $98. >> reporter: meaning that the size it's going to go. >> that's what i think. ninety-eight is a key level. the high speculative time because the u.s. dollar has been getting pounded based on what is going on. so we are getting a bounce in commodities that is telling us we are going to stay in these high levels we're coming and we would get some pressure with oversupplied market. cheryl: tell me what that means for gasoline prices. >> at the gasoline prices start to fall. i'm going to sit within the next couple

leapfrog hurting on the back of that amazon too. there are a lot of different factors at amazon.on't know. lori: what will they ask for it at christmas? melissa: without question. doesn't seem how many tablets we have. lori: they lose batteries or lose the cables. can't find the parts for this one. melissa: just sort of grooed greed. lori: they have some choices of their tablets. my poor daughters only have ipads. they're really struggling. melissa: poor things. anyway, chicago's teachers are on strike today. mayor rahm emanuel calls it a strike of choice and says it is unnecessary. we'll ask lou dobbs after the break. i see him in the wages wings waiting to come on. lori: no big changes ahead. talking with axel merk about the fed. mo real movement in interest rates in the u.s. 1.68. no real movement in equities either. long bond coming in at 2.84%. back with more after this. [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in

major averages, look at amazon, the all-time high with a new amazon can build giving you the play-by-playwhat about google? back in 2007 and also e-bay of big winner back at the 2004 levels. where you have major averages hitting the highs. some say we have broke some thresholds it also marked newton said there is more upside potential. between three and 5%. liz: it was slightly below then suddenly shot up as it unveiled the brand-new amazon kendall park of the ecb gets credit for unfeeling the most ambitious plan yet to halt the financial crisis. my next guest has sound investment in india's to rise up from the rubble. from the bit -- primark trust company, ernie cecilia is it too late to get an? is the voice of mario draghi turn this around? >> thank you for having me on. looking at global concerns, will look at this stage check the with portfolios. we look at long-term trends recognizing short-term volatility but for at the products and services that has sustainability with short-term events that have occurred. liz: it is not too late to get into europe now that there is more stability?

on saturday, amazon will start collecting california sales tax and turning it over to the state, thesame way george's camera has been doing it since 1985. that is good news for local merchants since the advantage of online shopping for many consumers has been to avoid paying as much. >> do you believe you have lost money? >> absolutely. >> it was called a use tax and you were supposed to want -- voluntarily pay it to the state. now amazon and other major players will start collecting @. >> it will be cheaper and not having to park and drive and go to the mall is important. >> one thing this marketing professor is sure of -- california will see a big jump in sales tax coming from online shoppers. >> with the amount of money amazon will be collecting or we will be collecting off of amazon, that should be a significant amount of dollars in the state. >> and there is the hope that money will come back to the local stores. local merchants say they can now focus on customer service to bring in business. -- dramanew trauma "revolution" premieres this week. it sets a ragtag band of survivors

i'm saying amazon -- look, admittedly amazon is an incredibly hot stock.ed even apple and google. clearly it's had an incredible run. i think investors should wait for a pull back to buy. on the barnes & noble side, i would caution. believing in these retail reinvention stories has been costly for investors. we saw it in best buy. now we're seeing it in barnes & noble. amazon is on the other side. this it truly the new economy at its finest with extremely high barriers to entry. i'll admit i'm one of those addicted amazon prime shoppers. it seems every single day the cortez household gets a delivery from amazon prime. so often it's gotten me a bit worried that maybe the ups man has something. going on with my wife. in any case, amazon is hitting the exact correct kind of shopper, which is a shopper who's not terribly price sensitive who loves the efficiency and delivery of amazon and is willing to spend compared to the average consumer. >> the stock has done so well. bottom line, you like barnes & noble better. how much better can it get? >> i think $15. >

> > go ahead. > > i like amazon here, and i'll tell you why i like amazon.irst of all, they just fired off their new fire, their new kindle. i also like amazon because they're creating a content universe, and here's the deal: movies are changing. you can get brand new movies now by going on your computer and clicking. > > right. you don't have to go to the theater, and the popcorn's really the only reason to go, and the big box of candy. but, if you've looked at the amazon stock, it's up 20% from the 15th of july when this crisis started in the corn market. so it looks like it's already priced in. looking at netflix, it's been killed, absolutely killed, from to $220 down to $50-something. you can sell a $50 put if you want to buy the shares at a lower level because the volatility is high, and use that to buy the stock at a discount. but it can always get more discounted. > > i feel like that stock's broken way too many times. i'd stick with amazon. > > round 3: who is better for job growth? mr. obama or mr. romney? > > to be non-partisan, the budget office h

the right move for amazon. taken their service oriented business and said we also want to make an amazing piece of hardware to go with it. it sums up all the round. dave: chapel be concerned? according to them their top of the line does everything the ipod does and is $200 cheaper. >> apple is so far ahead. they have $90 million at this point of the ipad. not like apple needs to be trembling but they will be watching closely because they are facing price competition they never had to face before and it will bother them even though they will pretended doesn't. dave: should samsung be concerned? >> they will be no. 3. this is different and puts the fear in to microsoft which is getting ready to announce its hybrid tablet laptops and that one coming at too high of price and people scratch their heads and say apple or amazon. >> what about the legal decision against samsung? the samsung galaxy does when the smaller ipad is going to do and put a fear into all the devicemaker is trying to compete with apple? does tha

now back to julia at the amazon event. julia?porter: getting the details of the kindle fire hd. it's bigger. there's a front-facing camera. way if i and bezos says is 41% faster than the new ipod. 25% less glare. more storage and memory. dual stereo speakers and so better sound and x-ray of movies to tap the screen and find out about the actors and characters. there's interaction and facebook and skype built custom apps and bezos says a good microsoft exchange integration and starts at 16 gigs. one piece of information we don't know yet is how much it costs. waiting for that nice final detail. back over to you. >> thank you. >>> and coming up, a big debate over nokia and microsoft and as i warned you smartphones and underwear. in one story. cool actually. stick around. [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, t

that those vendors account for 40% of amazon's sales. if the third-parties have a physical presence here in california the lame require law may require them to collect taxes. >>> also walking a very thin line and we'll tell you about the new world-record set high, very high above ground. low clouds are developing right offshore currently coming up at 10:37 i will show you the fog pattern and the timing of our next cooling trend. . >> world-famous getty center re-opened after crews got a handle on the wildfire nearby broke out yesterday afternoon in the sepulveda area. firefighters battled heat with temperatures soaring above 100 degrees. >> new details about a deadly attack in southern afghanistan that claimed the lives of two marines where british prince harry is stationed. he is safe. now military officials tell the l.a. times the insurgents were dressed in us military uniforms when they breached the basis parameter and destroyed six jets and three refueling stations. nato officials say that the taliban claimed responsibility first say

in amazon web services, you have more than 3.5 billion objects. they have to know which one to go for it here that have to break your access. then they have to break the description on the of jets. the probability of stealing your data and getting away with an attack is vanishingly small. >> i think you address one of my concerns, which was the security of my data out on the cloud, but you raised a new question -- who owns my data? what if i do want it to go away? >> there are very challenging concerns. certainly, governed by state boundaries. for example, numerous canadians do not want their data in american dissenters. under a land the vessels, that can be subject to inspection and seizure. all the regulations relate to national boundaries there as well. a cloud providers actually end up having to meet numerous diverse regulatory requirements related to where data may resign and how it may be encrypted. there are different purchase centers for different christian center's and countries -- there are different encryption centers for different regi

will amazon dent costco with this move? we'll look at that coming up. >>> also, apple's surprising apology from ceo tim cook about the new map app disaster. would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at oil prices here, crude prices are still down today, but what a quarter it has been. all the worries about the tensions between iran and israel with those iran sanctions going into effect at the beginning of this quarter also helping to boost. the big story this quarter, and certainly today, has been gasoline. despite the fact that normally we see prices starting to come down during this quarter, they have actually

-- i will pick on brother amazon -- amazon's innovation was not technology. it was not technology. they have to use virtualization technology to enable what they are doing, but their innovation was not virtualization. for the old people in the room, ibm did this in 1972, right? their innovation was 12 cents an hour. 12 cents an hour. and transparently. we could go right now and look it up. you can buy it for 12 cents an hour. that ability to sell you -- and they are not the only ones. other people are starting to do this. so transparent, by the way. but that innovation to give you computer for 12 cents an hour. that is a business innovation. they were economically not possible before. let me give you a simple example. some of you may not know this. a couple of years ago, and they may not want to talk about this, but 350,000 people could not file their taxes on tax day. not very good. you may not know this, but the number one day for ecards on the planet is valentine's day. by a long shot. hallmark processes more on valentine's day. this is because you do not

they figured amazon was getting their business because amazon didn't charge tax.ell, data out of texas where amazon made a similar change shows it doesn't make a difference. people still buy on amazon because it is more convenient. finally, yahoo getting a huge check. they invested $1 billion in ali babba, a chinese company. yahoo will receive $7 billion for that investment. back to you. >>> thanks. one, two, three more days left of summer? >> i think so. >> rob mayeda? >> fall is starting on saturday morning. when you look at the forecast, there is one day of summer coming up. we will let you know when the warmest day of the week is coming up. gorgeous view from the hd sky m skycam. speaking of san francisco, we have the giants coming up tonight. notice the giants orange in the sky? we have sunset at 7:13. first pitch at 7:15 coming after sundown. temperatures in the upper 50s around first pitch. dropping into the mid-50s. 58 in san francisco. look at santa rosa, 53 degrees. low clouds trapped in the valleys. 59 in san jose. the wind or ocean air conditioner is b

is this a reason to buy amazon or a reason not to?do you think in terms of pricing. >> i think very short term, i think you can own it. there will be more announcement. i think there will be excitement going into what the new kindle fire is going to look like. i think on the news, you sell it. you stay on the sidelines. take a pause. >> who is dipping into shares of amazon today? or not. >> i think joe makes a really good point. if you go back a year or so ago, we are at levels here at a double top and the price action is not good. a lot of day left, i understand. if it closes lower than friday's low, i think you have really got to re-evaluate. given the technicals today it may. >> i'm with guy. i stay away from this. >> got it. so everybody is negative on the ne technicals. thanks for joining us. we will see how it plays out. >> thanks. >> what actions are suggesting about the health of u.s. equities. those stories and more when halftime returns. with scottrader streaming quotes, any way you want. fully customize it for your trading

amazon trading new all-time highs.atest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades. getting closer to consumers will play to amazon's advantage over the next few years. >> we lived a pretty ebs tensive survey of about 1100 people in the u.s., 20% of them was the avoid dance of sales taxes, the major reason they shop on amazon. you can impose state taxes. like they did in new york. we don't think you'll see a growth tax in california. >> advantages of having warehouses closer to consumers. one would be the roll out of same-day delivery, how big could that part of the business actually be? >> to mark'

amazon says it isn't worried about losing business.t already collects sales tax in 7 other states and the company says we are pleased to say we are thrive in those geographies because amazon offers low prices, fast selection and fast delivery. >> would i rather not pay taxes? i would rather not pay any taxes but that being said, you got to do what you got to do, right. >> michael fen any reporting there. the new law affects any out-of-state retail err that sells at least a million dollars worth of goods in california. not everything is taxable. e books are not a physical product so there is no sales tax for them. still to come, the commercials vying for the best ads of the year. plus, the new high tech glasses that may actually change how you wear glasses forever. >>> are you always switching eye glasses? really annoying. technology might have a solution for you. richard hart reports on the drive to discover the one lens to rule them all. >> i often work at home. i have the computer screen and things to read that are closer. i started

tab blet or tow potentially in the future an amazon phone over a stock an droid one. >> and amazon addingode for kids. >> it locks you in to books and you know, kid media and so they can't go around and rush out all over the device. they get to focus on just a couple things. >> and if you want a kid friendly price, the old kindel is now just $159. >> still to come on abc 7 news, beating problem perspiration. >> going to look into a >>> this is a new option for people who suffer from severe perspiration. this noninvasive treatment is promising to cure the problem at its source. for her, walking in the sun could bring consequence autos i noticed amount of sweat i produced changed and it was more and add an odor all of a sudden. >> the sweating became so uncomfortable, she decided to undergo a approved treatment. the system called mira dry promises to get rid of excessive perspiration permanently. >> it's exciting and it's a noninvasive way to destroy sweat glands and these are responsible for under arm sweating. >> this dermatologist says it is safe because there are enough sweat glands in

gerri: amazon is kind of using this as an engine.ive, which they don't want to have to collect sales tax. they don't want people to have to pay to give them a huge advantage in the marketplace, but they are using it to get other things. tell us about that. >> they have seen the writing on the wall. the internet has been able to survive without a sales tax being collected primarily because we are so concerned about forcing internet retailers to collect the night to 600 different sales taxes all of the estate's. amazon is kind of seeing, they have been under a lot of pressure from different state governments, and the federal rescue of legislation pending that may change all this. at think they're just trying to get out ahead of it, build warehouses in as many states as possible and start to offer much quicker delivery and go up even stronger against their brick and mortar retailers. gerri: which would give them a real advantage. less talk about the states that this will happen, july 2013, new jersey september 2013. virginia ten eric 14

, amazon a buy rating and new target.art: last we checked 254. thanks, nicole. i've got a stock that's soaring. buying guns at a strong clip and the company says that's not going to change soon and raises the outlook on future profits and they love t look at that, smith & wesson up 20% this morning, 10 bucks a share. back to the big story, two headlines for you today. first, the august jobs report. and 368,000 people just gave up looking for a job last month. and greg vallier is here, i am apicking on that number, not looking alt the rate. i'm looking at 368,000, i think that tells the story of a measured america that's given up hope. your point, please? >> well, you have the right word, stuart. you corrected yourself when you said lousy and should have stuck with that word. it's a disappointing report and obviously, too big implications, number one, the fed's got to do something next week, and i think they will have to stimulate further. and number two, this is no great prize for the obama campaign. i thought they came o

amazon's really going out there very publicly on this, and we know that there's so much momentum in amazon. >> and bazos fashions himself in the sense he does the presentation, they have a jobsian feel to them. >> we've confirmed that he will man the helm in santa monica. >> he can drive the stock. got to love the guy. >> in terms of nokia, deutsche bank takes it to a tell today because they say the lumia is not a game-changer. i don't fault you if you don't want to buy this stock in single digits. >> if you ask me what stock on "mad money" people ask me most about, what's the most asked-about stock, can i buy nokia because it used to be higher. i saw several arguments with research in motion. you know, look, the phone's not good enough. i mean, this is like you can put dog food out there and say new and improved, and sometimes the dogs just won't eat it. >> i mean, wireless charger. the core of it, the core processor, it's only -- how does that work? dual core processor but we're in a world of quad core processors so what does this bring to the table? i don't know, behind in the technolog