bankamerica purchased countrywide and this week investors will be all about earnings reports. first report is due tomorrow, followed by wells fargo. the fourth quarter reports for the last three months of 2012 are very important because it gives investors an idea of how companies perform for last year. the futures are down 20. >> it looks like apple the company may be invading wine country. it looks like the storage heading to napa because the that giant is advertising retell the out for an application. no word yet on where the actual location of the new apple store might be but we will let you know. >> a look at current temperature is a 036 degrees and napa up. upper 50s, as close to 60 degrees for today and plenty of sunshine. we will be right back with weather. you can't move the tv there. yuh-huh. we have the wireless receiver. listen. back in my day, there was no u-verse wireless receiver that let you move the tv away from the tv outlet. we can move it to the kitchen, the patio, the closet and almost anywhere. why would you want a tv in the closet? [ both laugh ] ♪ [ fanc

bankamerica stock down $0.2.merica and six other big banks agreeing to pay separately eight and a half billion. a lot of money sloshing around. selling charges of wrongful foreclosure. they pay helena's from 1,000 to 125,000. all take the one to five. that is why we are expecting to see. depending on several circumstances or to seize the home. the floating oil rig that ran aground off the coast of alaska has been towed off of the rocky shore where it was grounded the four resumes its trips offered to seattle. further inspect it. now, the weekend box office. are you ready? texas chainsaw three be cut down the competition's. defying expectations taking the top spot with 23 million. i don't know how to say this. came in second with more than $20 million. and heroic film about the union whites who worked so hard to free the slaves. not well at the box office. the promised land. a star-studded cast and plenty of controversy. coming into place. french actor officially a russian citizen. flown to russian by president le

people like bankamerica. it bought countrywide mortgage not exactly the financially literate move. capital one. it is accompanied victorious for going after lower income people and going after people who have had debts discharged in bankruptcy court in trying to still get them to pay. >> host: use is just the ulterior motive? >> guest: they think they're well-intentioned i think it is easier to make products that people understood and not engage in bad financial behavior. you don't have to give a credit card terms with the gotcha clause so why do you do it? this cynical answer is there is a lot more money to be made and changing the telos of these things can happen or simply making products people understand. it looks good. then one other tiny price adjusted is there is a brand awareness component. it did not occur naturally but steady show children can remember the set as early as 18 months than they will be more likely to respond favorably to it decades into the future. there is a part of getting your name out there and to bring the product home now these financial literacy tools

bankamerica had hired lawyers to make all sorts of attacks on us, and the millions of dollars. you can look that up. this attention -- tension between power and knowledge is extremely important. we have all heard the saying that knowledge is power, and it is true, and the mass intersection that is occurring right now for all of us that use the internet is also a mass transfer of power, from individuals to extremely sophisticated state and private organizations. if that is to be resisted, we must have a transfer of information that goes the other way fortunately, the system is, in part, eating itself. they have these two databases that are designed to be extremely efficient, brings 5 million people, a state within a state, to figure out how to use it to maximize the power of that sector, it also leaves itself open to people extracting some of that information and reversing the flow and giving it back to the public, but it is not by any means an easy battle. i would say the transfer of power that has occurred as a result of the nsa's ended 1.6 billion interceptions per day is muc

bankamerica owns the house. why don't they get the police and show up and say get out.lution? >> that is completely the solution. the problem in many situations like this, when it's a bank, when it's not an actual person, there are many states away, lever division is handling the actual foreclosure of this property is far, far away. they don't know is there. now that they have been informed , they're taking legal action, but the owner of property loans that property. they own that property even while one of these forms is filed. we have it here in brouwer county all the time. now, the interesting thing is the law also says that if the property owner pays the taxes for the year after this form is filed, the property appraisers office must remove the form from its record. so then it's gone. in brouwer county currently we have 19 cases where forms of been filed against property. melissa, i have had seven this month alone. melissa: even more when people here about this. if he did somehow managed to stay in the house it would be his house. other places like arizona, you only

as the economy improves and loan growth continues to pick up, that's going to be a positive for bankamerica. we definitely like we're seeing. david: it would have to go back to levels that it's all before the crash about four years ago to go on to that. her nose. we may be on a big upswing. get to see you both. have a great weekend. >> thank you. david: well, gold continuing to tumble after being spent by yesterday's comments command of the fed. coming up, find out if this is a buying opportunity for gold. liz: 155,000 jobs were added in december thanks to a boost in construction. workers like that on your screen, bringing the total for 2012 to just under 2 million. not a strong recovery, but we will gain more strength. david: the debt ceiling battle be avoided thanks to a coin? one point with the choice in dollars. liz: and his name is clear. the man who ran to of warren buffett's top businesses. it no more sec investigation into whether he has done some trading and investing. he spoke to fox business. wait until you hear what he has to say. ♪ [ male announcer ] this is karen anjeremiah. t

. >> bankamerica announced it has agreed to bay fannie mae and by bad loans to sell mortgage claims asart of a larger effort by the federal government to get 14 of the major banks in the u.s. to make good on abuses the they were charged with making the in the financial meltdown. >> we have j.p. morgan chase and citicorgroup. >> the time is 4:46. erica is tracking our weather. >>a good >nny anny. we are taking a live downtown this is downtown san jose. the fog is back again in some parts. 46 in antioch. your visibility chart shows the dense fog in livermore, concord and 10 mi. for fairfield. in the north bay napa is down to 3 tenths of a mile. drive with extra caution. be mindful of the cars in front of you. over to fog trucker 4 we will see 5:00 a.m. widespread. it is impacting everyone. as we head into the afternoon by lunchtime partly cloudy conditions around the heart of the bay. a lot of sunshine never was. >> an afternoon highs upper 50s. some spots between five and 10 degrees warmer than yesterday's. fremont at 57. 59 for san jose and milpitas. a lot of sunshine and dry weather i

morgan chase and goldman sacks on wednesday and bankamerica and city group on thursday. saw san francisco bank was fargo fall on friday despite a record quarterly profit. investors were concerned about shrinking profit margins. >> @ apple shares are falling right now in pre- market trading after a report came out showing a cut in parts orders. darya has more. >> apple has cut its component orders for the iphone 5 due to a weaker than expected demand. >> apples orders for iphone 5 screens for the first quarter dropped to roughly half of what the company had previously planned to order. >> the company has also cut orders for components other than screens. >> the move comes as the company has been facing greater challenges from samsung and other makers of smart phones powered by googles android operating system. >> more problems for boeing's 787 deamliner this morning. what japan's airlines reporting they found next. in we're waking up to a chilly morning across the bay area. if will check of your monday forecast that the kron 4 check of your monday forecast that the kron 4

another round of big bank earnings out today, but the numbers are not looking so good for bankamericathe details. what is not so good? >> reporter: it's the cost. five years after the housing mess we are still seeing and cleaning up the housing mess. so what wall street analysts are telling me is, they don't think that bank of america can justify the cost basis in the longer. we know that both are laying off bank of america laying off 30,000 as of the fall of 2011. they have valet of 17,000 of those workers in december. the new ceo, laying off 11,000 workers command he also warned wall street at the time that revenues will be hit by $300 million because of the cost adjustments. also legal costs and regulatory costs that are hitting their bottom line. it cut $0.16 out of bank of america's earnings per share. and also 1 billion in legal costs. but i tell you something, again and again, a tough time convincing wall street that they can rationalize their cost structure. too much fat marbled through the operations. still sitting on 171 billion in crisis era assets. the thing is, they are t