>> i think blackstone found is what we have known.have invested in the parks and they see the value the business has but what we can still do. they are excited to be a part of this company. liz: butte rolled over the fact is started as a teenager you really are on the screen and you started as a parking lot attendant back in the '80s. what does this say about this country and how anybody can go from parking lot attendant to c0? >> i have been very blessed and height of who was operating rise and guest relations and iran several parks so i have been very fortunate in my career and that is what this floor was created for where you can work your way up any type of role to find yourself on the floor on the new york stock exchange with a penguin named penny. >> right now we have to look at dell. there is breaking news it seems that carl icahn according to sources of the wall street journal is backing out of any interest in helping to acquire dell. earlier blackstone said not interested now according to "the wall street journal" and as thos

blackstone chief steve schwarzman is our special guest this hour.s of investor bancorp is hitting all-time high. kevin cummings plans to keep the bank on course in a different environment. it is a fox business exclusive. >> american home prices posting their biggest yearly jump in nearly seven years. s&p's david blitzer who helps put together today's case-shiller report will break down the brightest spots for housing right now. ashley: first stocks, wrapping up yet, another winning month but weather sensitive commodities not faring quite as well. of course we've bottom team coverage for you. nicole petallides on the floor of the nyse. sandra smith is in the pits of the cme. let's start with nicole down at the new york stock exchange. nicole. >> ashley and tracy we're seeing back and forth action and now all three main sqor averages with up arrows with the s&p 500 fraction alley away from the all-time intraday high. that will be somebody to watch going into the close. the dow is up 17 points and the nasdaq has broken out and moved to levels that we h

now, under blackstone management, sea world has become profitable again. the net income quadrupled last year. the average customer spends over $58 each, that's nearly a 4% increase. risks a lot of debt. quote, we are highly leveraged. nearly 1.7 billion in debt and the unique risks of running a business built around 67,000 animals. seaworld saying it could be hurt by, quote, changes in or violations of federal and state regulations governing the treatment of animals or the loss of licenses or permits to exhibit animals and the potential risks to employees and guests like the death three years ago of a trainer by a killer whale in orlando. six flags have had a great ride, though seaworld would have a higher ratio. goldman sachs calls amusement parks, quote, a mature industry that gets it. it has a buy on six flags, neutral on cedar fair and, guys, is a major underwriter of the ipo. >> thanks for that. groupon's business model and balance sheet headed into the ipo. joining us for a breakdown of the seaworld ipo. a firm that analyzes major privately held comp

reportedly he has never gotten along with dave johnson, one of blackstone's top folks. >> they are goinggure out that they need michael dell so they had better be able to get along with him. hopefully they will be a counter offer. i know who wants to do it as well. but look, did you see the proxy they filed? the pc sales keep dropping. >> as i understood it, both the blackstone bid and the i con bid would include some stub remaining public. >> they need to buy out the whole thing. he has changed his lawyers now. so does this suggest, john, you, a lawyer, that he's ready to partner with the government and sing against steve? >> even a couple weeks ago we were starting to hear rumors that he may be in a mor cooperative move. that gets along with the district attorney's office? >> this guy was the former chief of the major crimes unit. might be able to be more effective in some way. >> his new lawyers are the guys who can hopefully cut him a very good deal. i would think that is what he is doing. >> and a live video chat service for users. he said it's part of a branding effort that will gi

please welcome cammy blackstone. if you have not worked with her downstairs on the second floor, you will work with her now and she started on march 18th and she is sitting right where nicholas is seating. that is her primarily responsibility. i am extremely happy . the last thing i want to let you know is update you on the 330 situation. early saturday morning, march 23rd, a shooting occurred inside and outside of nightclub. after determining the emergency powers to keep the club closed for the balance of that weekend. on march 25th, that monday, staff met with the owner and manager and sfpd and at that time they agreed to surrender their entertainment permit by the end of the day. we did receive that and that was sent to all parties concerned. 330 richmond has been closed and we understand that location will be a full restaurant and no longer be an entertainment venue. there is a lot of media on that. hopefully now everyone is clear on the exact situation and we can move forward. that concludes my report. you want

we have the chairman, ceo and cofounder of blackstone, his name is steve schwartzman. he joins you in a first on cnbc interview. steve, a real pleasure to have you on our show today. i'm going to get to your hiring heroes initiative in a second, but first of all, the big story is apple's record debt sale, $17 billion. you've had a lot of experience in the debt markets, so i would like to pick your brains. do you think this was a smart move by apple to take advantage of the record low rates? do you think other companies will following apple's footsteps? >> it's an interesting situation. apple, of course, has huge amounts of cash, but by the same token, the cost of borrowing now is so unbelievably low that issuing long-term bonds and gives its cost of quapt is a very smart thing. >> do you think we'll see other companies follow in their lead? it's a little bold. apple is bold and a little innovative, but i think companies should think about something similar. we did. we issued 30-years bonds, which was it is first financial since the crisis to do that. >> i would like to

blackstone is reportedly talking to several tech companies about joining its bid for dell.ny firm that teams with blackstone would likely be involved in dell's strategic direction and have a financial role. the private equity firm has discussed several scenarios with perspective partners. blackstone's has been at dell's headquarters this week conducting further due diligence and meeting with executives. dell stock down around half a percent in frankfurt. >>> yahoo! and apple are reportedly in talks to expand their relationship on the iphone and ipad. the companies are discussing ways to get more yahoo! content preloaded on those devices. da data from yahoo! finance are on the ipad. reports say yahoo! has discussed ways it could provide web search results to apple so it could rely less on google although nothing is imminent. yahoo! up 2%. apple flat today. and taylor morrison priced ipo at $22 a share. the company sold more than 28 million shares raising $628 million. just latest of a number of housing related ipos. taylor morrison will list under the ticker tmhc. >>> coming

blackstone helping them as a consultant now looking for ways to raise money.s a cache problem and a new name being thrown in the ring, center view apparently is advising jcpenney on fundraising and that is a long with blackstone. these guys don't come cheap. they're spending money to try to find a way to make money but jcpenney pretty desperate. looking at an intraday picture. over the past year it has been absolutely interesting. they have a cache problem in all kinds of issues. does not matter they can sell martha stuart nonbranded pitchers a at this moment, they need real help. jumping in along with blackstone. it has gotten worse and worse. they fired ron johnson. they brought back their old ceo. bringing back his coupons the customers know and like. thank god it is friday. if i hear the word bitcoin one more time, this is going insane. our next guest is very deep into it. he says one bitcoin, which you cannot touch or feel, could be worth $100,000. he gives the timeline for when that will happen. and yes, it is in our lifetime. is this the currency versio

as a stock holder, and i was glad to see blackstone back off from a bid on dell.u know, these companies are kind of out of the mainstream. if you're a stock holder, you're actually a unit holder. you get a k-1 form, as if you were a limited partner in almost a hedge fund. the accounting is eccentric, because, well, because gap doesn't quite do these companies justice. so you have to look at this so-called economic net income. and there's this seeming paradox of private equity companies being in the private market. and if private equities are so great, why are they public? there's a lot of bad will, i think, towards these companies, but they offer that thing that is most scarce today in the markets, namely safety. they are actually cheap, especially compared to their public counterparts. these companies have their money locked up for ten years. you don't just take it away from them. where the mutual fund companies, the money can and sometimes does walk out the door on a given bad day. they trade these companies, for example, t. rowe price and franklin resources, in

what is blackstone's motivation here? >> you know, maria, i've been asking myself that question.learly they're not in the business of charity. they see an opportunity one would expect to potentially be able to garner returns that meet their parameters while taking risks that meets their parameters. but it's an interesting question nonetheless to wonder what do they see that silver lake and michael dell don't that would allow them to get to a level they really feel comfortable with? or is it a lot more marquee value? is there value to that they see just coming after a big deal? it's an interesting point for them. if they don't go ahead with a full proposal, that would have reputational risk. but, you know, it also is a reputational risk to jump or hijack a founder company's deal. maybe they get michael dell to at least be friendly to their deal if not actually come along with them in the end. >> this is getting interesting. >> indeed. >> good stuff. >>> heading toward the close. 17 minutes left here. we are down 32 points on the dow industrials. we're looking for a new all time hi

it has been reported that jc penney has hired blackstone for $1 million. blackstone is talking to banks to make a $500 million or greater five-year term loan to jc penney secured by inventory. blackstone is talking to three private equity firms who expressed interest in making an investment in the company. given where the stock price is currently trading it's unlikely that the company would look to raise equity now. it's my understanding that the time to raise equity would be later in the year once jc penney has time to try to improve its financial standing. that seems obvious given where the stock currently the sits. they're figuring, give time, we're bringing back coupons and we're bringing back promotions. let's try to turn this thing around and get this ship righted under ullman and then pursue other strategies later in the year. >> first grade scoop because i read through the paperis and couldn't figure out what the heck is going on. >> would this be the kind of thing that could never happen under ronny johnson because ullman is a guy they all bank wi

blackstone.this sort of a day-to-day decision as we ram up to the may 15th redemption date. they have no decision yet. but what is kind of interesting here, they are working closely, from what i understand, people at the big private equity firm run by steve schwartzman, closely monitoring the legal issues surrounding steve cohen and sac capital,. will the firm be charged. will mr. cohen be charged. will any potential people that they brought in, michael steinberg, former sac fund manager, matthew martoma. michael steinberg to be clear is on leave from sac. matthew martoma is a former sac fund manager the both arrested for alleged insider trading violations. will they in turn somehow flip, cooperate with the government to make a case against steve cohen? that is one of the big innings things they're waying weighing now. i can't tell you if they will pull it but they're on the fence. one of the reasons that blackstone is on the fence the entire legal community is on the fence whether there will be

we know that blackstone is going to be helping them figure out a way to find some money.red you, supposedly jumping in to help. are they just shining this thing up for bankruptcy? private whatever. me, what is the worst-case scenario here. >> at the worst-case scenario, you can talk about that kind of outcome, but the goal here is to avoid that for retailer. that is not what you want to do. keep yourself alive. bankruptcy is not an option here because they have liquidity. have sources of liquidity. they have no near-term majority that will put them in a bad turn situation and the bondholders' right to issue a notice of default that there were forced to resend because they simply had no grounds. i think with the need to do is raise a lot of cash, and they can do that with those options i mentioned earlier. ashley: you're comfortable? >> to lend stability to the firm. ashley: that's one thing, but to push the product forward. >> it's a good point. my target is based on more than getting back to a medium level success, not the height that he had envisioned about getting back

john blackstone, cbs news, san francisco. >>> well, coming up after your local news on "cbs this morningthe boston bombing investigation. we will hear from john miller. >>> plus, record-breaking flooding in the midwest. we'll get the latest from the scene. >>> and we'll ichb trow deuce you to the 2013 teacher of the year, jeff charbonneau. that's the "cbs morning news" for this monday. thanks for watching. i'm anne-marie green. have a great day. -- captions by vitac -- www.vitac.com april 22nd. i'm frank mallicoat. >> your realtime captioner: linda marie macdonald >>> good morning, everyone. monday! boy, where did the weekend go? >> i know. >> april 22. i'm frank mallicoat. >> i'm michelle griego. time now just about 4:30. what a lovely weekend too. >> yes. a few things happened. beautiful weather. >> gorgeous weather around the bay area. and i think today, boy, it may not get better than this as we'll see plenty of sunshine and some very warm temperatures again. probably the warmest day of the week. we'll talk about that coming up. >> it couldn't get any better than yesterday. >>> outsi

john blackstone, cbs news, san francisco. >> axelrod: next up, security concerns in the aftermath of in boston. teenagers there question just how safe they really are. e the . marathon bombs, it had been nearly 12 years since the last major terrorist attack on u.s. soil. among the fallout from the attacks, the question many americans are asking once again-- just how safe are we? dn with members of a generation asking that question for the first time. >> there were a lot of people screaming and there were a lot of loud noises. >> 14-year-old best friends lily henderson, and hannah wolfberg were shopping one block away from where the bombs went off. >> it's, like, hard to describe but it looked like sheer terror. >> it was kind of like from what you see in, like, movies. it literally was like that. like, everyone was running as fast as they could, like, away from the explosion. >> reporter: lily's cousin, 23-year-old stephanie wolfberg, was standing midway between the two explosions. >> most frightening part of the day was the news kept reporting that there were more undetonated bombs

john blackstone explains how they move so fast. >> reporter: when the f.b.i. two suspects, hundreds of thousands of people tried to access the web site, part of what's called "crowd sourcing" using sheer numbers of people looking at pictures to help solve a crime. but beyond the numbers and despite dozens of camera angles and high-def video, it is the trained human eye that leads to arrests. >> so we're going to track our suspect from camera to camera to camera. >> reporter: grant frederics teaches video forensics at the digital multimedia evidence processing lab at the university of indianapolis. this is where law enforcement agents train to evaluate raw video for agencies, including the f.b.i. >> this work starts as a labor. it starts as an incredible, manual process. >> reporter: investigators must scrutinize the video framed by frame. they look for people who display any patterns, or abnormalities that signal suspicious behavior. >> then that person will be tagged based on the clothing and description, direction of travel, g.p.s. information, time of day,i

what blackstone wants to do is probably a lot less risky. they want to break up the company, get rid of the financing on it. turn it into a service business and cross their fingers. but i can't make heads of tails of it. they also asked for an indemnity as part of their bid to indemnify them from being sued. the whole thing is completely and utterly bizarre. these are things you don't traditionally see in transactions like this. a little morning commentary. i apologize. >> gratuitous nastiness is like tortious interference? >> yes. >> was he a roman emperor? >> we have a story about a modern day emperor, steve cohen. more trouble, though, for steve cohen -- >> do you know that guy, the steinburg? >> i met him once, years ago. prosecutors did charge michael steinburg with insider trading, two technology stocks that happened on friday. it wasn't a good friday for him. he was a senior sac employee and he's one of the most recent to be indicted in the government. >> do you know anything about this? >> i do. >> are they trying to squeeze this guy

the reason is blackstone has dropped out of the raise to take dell private and shares of fallen below365 levelland that is the offer price from ceo michael dell and silver lake. back to you. melissa: thank you so much. the latest on the manhunt in boston, a city on lock down as police search for the bombing suspect. former nypd costed negotiator will join us next with insight into what could be going on behind the scenes. we will be right back. thank you orlle and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> 20 minutes past the hour your fox news minute. boston remains on lockdown as the manhunt for suspect in the marathon bombing continues, amtrak service has been suspended indefinitely. between boston and new york. buses and mass transportation are shutdown

blackstone is the right group to get them buyers. i think, steven, for the real estate, for that part of the real estate, it will be half the size it is six months from now. >> private equity, it didn't work. >> let me ask you guys this. i mean, if you consider it in the same sort of basket as best buy or blackberry or some of the -- hewlett-packard. okay, you know what those shares have done. why is jc penney incapable of having a substantial move in the opposite direction of where it's been going now? i think that's -- you have to answer that question. >> i think they are. >> i will. there's different dynamics because they've been losing share to others. like blackberry. where did blackberry go? down to $8. you could have made that case at 30, at 20, at 15, all the way down to 8. goldman is going to come out and say the first time he comes out, scare the crap out of everybody. the stocks are going to get anile ated, and then you're going to have to worry about, okay, he has reset the barlow. can he now beat it because everything ha

charles will make you money now with the blackstone group. >> yeah, the blackstone group reported this profits up 28%, the distributable earnings rep, up 137 134*%, assets on management inn, the stock was looking up at one point like a buck. the fact that it pulled back, i think, is a great opportunity to get in. >> blackstone is private equity? >> prief equity. >> that's right, private money invested for you. glorifieded mutual fund? >> a privatety equity fund building up assets in real estate, credit, and hedge fund business. the private equity they have not done a lot with, but assets in management are human. >> they would be angry if they are a glorified mutual fund. i take it back. >> you'll miss good parties. >> i never socialize. carnival cruise line spending up to $700 million for improvements to things like hospitality, fire, and power systems. this comes after that disaster aboard the cruise ship triumph left adrift in the gulf of mexico for many days. joining us is mike, suing carnival on behalf of the passengers. mike, i just want to get details straight here. you've launch

now we'll have rental backed security, blackstone is doing it and others, that are going to perhaps, if prices come down, they could collapse, and they could put further pressure on housing, which just exacerbates the problem. charles: steve, i thought about community reinvest. act, this was a genesis for housing bubble that forced banks to lend to people who were risky, otherwise they could not you know build their businesses across state lines, and then fannie mae became a uka mountain to put this toxic stuff, but they argue, they could not go to the bank and get a loan, and the banks were discriminating. is there any argument like that right now? >> not that i see. and you know, one thing you have to do, barges are very -- banks are very nervous about another real estate crisis, they are still feeling after effects of the first one, it is natural they will be skittish about making lones that are marginal right now, that is just human nature, i'm not sure, we -- why we want to have government pushing them this make the loans, the white house says, this is the way to help provide st

maybe he came in and blocked blackstone, make an offer at $4.50 for a buyout. case he caught bondholders at least money. >> he has a mixed track record, everybody has a mixed track record. in this case it may help shareholders whether he makes a higher offer or if blackstone makes a higher offer. it is going to wind up with a better price for shareholders. what his intention is is helping themselves certainly. melissa: he is motivated by making money. maybe you just want to be on his side nmatter what it is. >> he can't always be on his side. he is a magic act, a chess player. his real reason he wins so often if they think two or three moves ahead, carl thinks 12. something like this is ideal for carl. he doesn't even like money. but it is a resentment game. a low, middle class family with the establishment. one of the things he told me, i said take this money and the government was after him for 1.2 billion total net worth. said let me think about it, let me think about it. i said put the money in legally after taxes. he said my money is my army and i need my

>> that -- a blackstone exit there and a blackstone exit there this morning, carl and we may also get chance to talk to deciding not to bid for dell and certainly not on a day that's otherwise focusing on the events unfolded in boston. investors seemed to like the seaworld ipo and the high end of that stated range and raising double what they originally expected to when they filed. so investors do want to put money into this work, put money to work in this deal even though it is a highly leveraged company with a lot of competition. becky and joe, you guys have been watching futures which are misleading for much of the morning and the story continues to be boston and we'll send it back to you. >> thanks carl and david faber. that's not the first time there's been a parade of penguins on "squawk box." >> that was not lost on us, believe me. >> we used to do that all of the time. >> it looked like a promising day for the future, but i don't know why, with ibm that was last night. microsoft quite a bit better than the results of ibm and we will see and this is what happens with watertown

which are like fauxantlers to simulate two bucks fighting to attract other deer tmt folks from blackstone cy was a pretty interesting dude, but they weren't ready for all the stuff that cy was going to say. >> for 2 buck, you get the gunner. they do this. then they wrestle them. okay. they're trying to take each other out. >> sometimes it's hard to pick up what he's actually saying. >> we got a serious fit going on here. >> but think, i think, is his gem. >> so far we got four laps. okay. that's pro found, okay. it's not gum. >> it's like gum, double your pleasure. >> hey, black lacks, jack. >>> we're checking in for some real or fake videos. >> bring it on! >> first, dude opens his door 20 an angry swarm of bees. >> the bees look real. the sound is terrible. >> then it's a soda explosion that falls at. >> yes. we fainted. >> we are breaking it down, ream or attack? next. çó [ music playing ] >>> time to check in with matt this time! whew! >> bring it on. thank you, guy, very much. >> the first video cong now. [ music playing ] >> it's warm out here. >> wow! . >> now, that sound terrible.

you were talking about that big day, blackstone big investor was worry that that did not give them enough time to assess whether steve cohen and as a safe -- sac capitol would be indicted. a lot of people believed, the government as well, that july is when the statute of limitation on most of tho suspicious trades in this. that means they need more time to assess whether steve cohen will be indicted, as sac agree to move its august, so we will know. this is why this summer is so important. melissa: of big deal, and to give our viewers the back story, the head of sac capitol. melissa: one of the biggest hedge funds. speculation has been swirling about an investigation into insider trading. >> reporter: that speculation is whether he will be indicted. the suspicious trades in question are from 2008. a 5-year statute of limitations. the statute of limitations runs out in july. it. melissa: to other major players already. >> michael steinberg, a former portfolio manager has been indicted. here's the thing. at investors are saying, like blackstone, a big private equity farm, they're saying

my first question to you is simply why do you think blackstone seems willing to pay more than $13.65hey've got dave johnson who went to blackstone from dell so he knows the company intimately and they believe they can do something with it. what's interesting is that michael dell and silver lake's approach doesn't seem to be doubling down. i would think they would look at something to sell off the lower end consumer pc business so you don't get the sense that they know that much more than we do outside the company. i'm not quite sure what blackstone is thinking, but they get to come in with a full bid and we'll see what happens. >> they have got come and they've indicated they will, but we haven't seen it and they've got a couple of weeks to do that and meanwhile, the business is deteriorating and this was something they got a few weeks ago. the key number, 5.6 in july for fiscal year 2014 and now it's tracking closer to 3 billion and that doesn't send a good signal, does it? >> no, the proxy reads fairly negatively and you expect michael dell to present things negati negatively. they

blackstone is private equity.ican tanker is shipping but i'm going to say it's different enough. the new york "times" is a pay wall company that also produces journalism. journalism, housing, tanker, oil, private equity. holy cow. dave in california please. gave? >> boo-yah, jim, from west los angeles. >> holy cow it's a beautiful there. what's going on? >> i want to thank you for all your help. my wife and i never miss a show. >> that is so terrific. i love that because i just wanted people to get back to even and then start prospering. what's up? >> here is my top five. i'm 60 and i just retied to retire this year. >> i've got to go for another 42 years. >> here is my top five. realty income, ryan air, at&t, general electric and ventless. and i die versified? >> i think he's got here, you know what i think dave has got here? dave has the perfect portfolio for a 60-year-old who thinks young. this is what i want. he's got rainier. you may not know it. it's a real estate investment trust like weyerhaeuser. it yield

i could not believe that blackstone and others saw value here. i still don't see what dell -- michael dell sees at silver lake. i'm completely scratching my head. and, you know, we'll see. >> isn't that a great short, almost the perfect short? because you've got a takeover at the table, not going higher. and if they step away -- >> people thought the thing was 22 on a stub basis and, you know -- i can't make the numbers work. and the cash flow is plummeting. real challenges here. and what i really don't understand is the commercial banks who are lining up to finance this deal. because these are companies, if they go away -- remember deck, the compaq bought and dell bought them. these are companies where you could see the corpus of the business go away. and the tangible equity at dell, last i checked, i think is a negative number. so there is no tangible asset. the cash is offshore. it has not been taxed. and the cash supports the current liabilities. so there's not net cash at this business. and net of tax liabilities, there is negative working c

blackstone is benefiting from the real estate boom.l estate fantastic.at is doing they also at top of the harvesting cycle. when the market is at a peak good time to harvest your companies. liz: sandisk is high-tech flash memory but why do you think they will do well? they have been working to transform their business. >> exactly that is why they're actually doing well. over last two years there was so much overcapacity in the market. we saw the huge amount of capacity and not as much demand. now these companies are very prudent about their capacity. and the cfo recently mentioned they're going with a prudent capacity growth strategy. so, and it is not just them. it is their competitors also. when capacity comes down they get more pricing power. expect them to beat earnings. estimate is above consensus. surprise 3.8%. expect them to go ahead and beat when they report earnings. ashley: number three, flir, systems. >> flir systems. they are a, they're a company which relies on defense which is why we picked the company. defense companies

>> i just want to welcome cammy blackstone to our commission. we are very happy and lucky to have you with your expertise and background and we look forward to working with you. >> thank you. >> okay, item 7 commissioners request for future items. any requests seeing none. this will conclude the tuesday april 2nd meeting of the san francisco county entertainment commission. thank you one and all. >> >> >> >> >> >> today we are going to talk about fire safety. we are here at the urban center on mission street in san francisco. it's a wonderful display. a little house in the urban center exhibition center that shows what it's like in a home in san francisco after an earthquake. one of the major issues that we are going to face after earthquakes are fire hazard. we are happy to have the fire marshall join us today. >> thank you. my pleasure. >> we talk about the san francisco earthquake that was a fire that mostly devastated the city. how do we avoid that kind of problem. how can we reduce fire hazard? >> the construction was a lot different. we do

>> i just want to welcome cammy blackstone to our commission. we are very happy and lucky to have you with your expertise and background and we look forward to working with you. >> thank you. >> okay, item 7 commissioners request for future items. any requests seeing none. this will conclude the tuesday april 2nd meeting of the san francisco county entertainment commission. thank you one and all. >> >> >> >> >> >> ♪ ♪ ♪ >> the san francisco playground's history dates back to 1927 when the area where the present playground and center is today was purchased by the city for $27,000. in the 1950s, the center was expanded by then mayor robinson and the old gym was built. thanks to the passage of the 2008 clean and safe neighborhood parks bond, the sunset playground has undergone extensive renovation to its four acres of fields, courts, play grounds, community rooms, and historic gymnasium. >> here we are. 60 years and $14 million later, and we have got this beautiful, brand-new rec center completely accessible to the entire neighborhood. >> the new r

>> i just want to welcome cammy blackstone to our commission. we are very happy and lucky to have you with your expertise and background and we look forward to working with you. >> thank you. >> okay, item 7 commissioners request for future items. any requests seeing none. this will conclude the tuesday april 2nd meeting of the san francisco county entertainment commission. thank you one and all. >> >> >> >> >> >> happy new year, everybody. i love the fact that we are doing a tournament here at the center. when i was in eighth grade i played on a basketball teechl. team. i have to admit i wasn't very good at it. i always aspired to be an nba player. regardless of playing in college or nba, i expect many of you have be leading us because of the leadership skills you are learning on >> good afternoon, welcome to the supervisors board meeting. the committee vice-chair, to my left is supervisor david chiu, also a member of the committee and we are joined today by supervisor john avalos. i want to thank sfgtv staff and caroline for broadcasting today

i never imagined blackstone would pursue that deal.rsus first quarter last year on increased drilling and gas. g.e. shed the last of its stake in nbc universe sal. what was your parent company the first quarter. g.e. matched earnings 35 cents a share and missed slightly. >> if you were just watching the ticker, vertex is up. cystic fibrosis trial. that's a nasty one. nothing that works that well right now. and you can see that whatever they looked into the data closely yet up 32 points. microsoft go by up over 80 cents, which people we have been talking about in the last few sessions. would it ever get going? and also honeywell reporting better than expected reports. put with he put aig in there. >> a little bit of business news. we're going to get back to the news and the very dangerous situation in boston and bring you more updates when we come back. hi nia... nice to meet you nia, i'm mike. what do you drive? i have a ford explorer, i love my car. and you're treating it well? yes i am. there are a lot of places you could take your e

>> i just want to welcome cammy blackstone to our commission. we are very happy and lucky to have you with your expertise and background and we look forward to working with you. >> thank you. >> okay, item 7 commissioners request for future items. any requests seeing none. this will conclude the tuesday april 2nd meeting of the san francisco county entertainment commission. thank you one and all. >> >> >> >> >> >> >>> it gives me great pleasure to welcome you all today. we are very happy to be able in a moment to announce our new director. but i want to acknowledge all of you who are here, particularly trustees who are here who have been enormously supportive of this effort to find a new director. it has been quite a long procedure, although it was no longer than the search for john buchannon. both searchers took about 13 months. my selection committee which was 13 people and i would like to thank them for their participation and in particular the search committee voted to appoint this particular individual in january and they have been able to

if so, why wouldn't they be drawing on that before using blackstone to raise additional capital at god knows what rate? >> everything is on the table. >> leave the revolver and they go to the street? >> what message does it say if they start to take up all the revolver? >> in other words, they must be selling the deal but say the revolver is there. >> they have a little bit of leverage to negotiate. >> it is an odd situation. >> it is. it's not like a chipolte or something. if you're short that, it can go to 500 or something. the bond you don't have that asymmetrical risk. >> you have the negative carry. it could go above par. at one time they did trade above par. they're certainly not going to some multiple of where they are right now so you have an asymmetry. it's to me similar of owning we're not just short stock, we are pea long the push basically. could there be a squeeze? could something happen that i don't anticipate? of course that could always be the case. the stock is lower, it's not cheap. that is the big difference. if it weren't akron, it would be lek kra. if there was suc

for "cbs this morning," john blackstone, los angeles. >> fascinating story.stions remain. >> yes. >> what happened on the trip. did they get -- did he get any kind of training or instruction. what john miller's saying, we don't really know yet. >> and the big question is still why. why, whierks why, that's what i want to know more. >> not that any answer will make sense ever. >> not that any answer will make sense ever. >> that does it for,,,,,,,, (sir can-a-lot) good day, ma' lady. [muffled] i am sir can-a-lot. i am sir can-a-lot, here to save you from another breakfast bore. wake up those eggs with glorious spam! (woman) hmmm... that's actually a good idea. [nervous giggle] (male announcer) break the monotony. for more fun ideas visit spam.com. headlines... >>> good morning, everyone. 8:55 i'm frank with your news head lines on this wednesday. a fire at a shelter in san jose has at least 50 residents displaced. most of them women and children. all of the residents were able to evacuate safely. the cause still under investigation. >>> the 78-year-old naso is

stephen schwarzman, head of the blackstone group, said the money will finance a masters program at arsity in beijing. 200 students from the u.s. and around the world will attend each year. schwarzman will donate $100 million from his personal fortune. >>> up next here tonight -- what they mean by boston strong. ♪ sweet caroline >>> finally tonight, a city living up to its new rallying cry -- boston strong. it was seen and heard all over boston today as the city emerged from one of its darkest chapters. nbc's katy tur has more tonight. >> reporter: sunday in boston, and faneuil hall is filled with music. ♪ newbury street lined with shoppers and boston common only two days ago deserted is now full of children. >> it felt like an infusion of 60,000 people came in a matter of -- overnight. >> reporter: the city that started the american revolution proving its strength by simply moving forward. >> you don't mess with boston. it's a very, very resilient town. people here -- life will go on. >> reporter: judy and susan, both nurses at brigham and women's, came to the edge of boylston street

icahn and blackstone group have expressed interest in the computer company following founder michael dell's bid to take it private. twitter is giving advertisers something to tweet about. the site is reportedly in talks with media giant viacom, nbc and comcast to add high quality video content and ads to its site. the streaming content would help twitter get users to stay on the site longer. meanwhile, bloomberg is also reporting that twitter is planning a push into the music biz, with an app that lets users stream and share music. it could be big competition for pandora. a "food fraud" scandal is discovered in europe. after 4,000 tests on beef, the european commission found 5% tainted with horse meat. the commission says there's no immediate danger to consumers, but it could be costly to the eurozone economy, and tighter measures are planned. france, greece and denmark had the highest amounts of horse meat in beef. devry, inc., which operates private colleges and training schools, is being investigated by officials in two states. the attornies general of both illinois and massachuse

. >> reporter: seaworld was bought by the blackstone group back in 2009, and the new owners return it had to profitability. the recession put the business on something of a roller coaster, but net incomeswun from a $45 million loss in 2010 to over $77 million in profits last year. customers are spending more money, and the company is hoping to attract more international travelers, especially to san diego. >> seaworld is one of the major attractions for those international travelers. >> reporter: but there are risks. the company says it has nearly $1.7 billion in debt. and when your entire business model is built around 67,000 animals, there are unique challenges. the company is appealing federal safety violations after an orca killed a trainer in orlando three years ago. seaworld board could also be subject to changing regulations or the loss of licenses to keep animals. but the animals are what make seaworld entertainment stand apart from other theme park companies. >> as a kid, i loved shamu so much, so i can't wait for my son to have that in his life as well. >> reporter: investors

jcpenney working with blackstone to raise a billion dollars. it is struggling.ney down this morning again. $14 per share. manhattan and brooklyn cop in the list of most expensive cities to living in the united states from the council of committee research to research the cost of living. north korea nukes is now a financial story, and we are on it. friday night, buddy. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. stuart: we have a story that has had little impact on our money. that however might change. you can see them dancing in the streets of north korea celebrating a one-year rule of kim jong-un. nobody is smiling. however here is the news, is revealed north korea is capable of tipping a ballistic missile with a nuke. kt mcfarland is on the phone. this just came out within the last 24 hours. does it change the ballgame especially over this weekend? >> yes.

the company hopes to use proceeds to pay down debt and pay back a fee to blackstone.l still hold 60% of shares after the common ipo, but at the midpoint of the expected share price, sea world will still be something like 27 times trailing earnings. that's much higher than pierce, but as we take a deep dive into the statistics, sea world went from losses to profits under blackstone from 7% last year. profits quadrupled to over $77 million. and the company is more aggressively marketing internationally. >> sea world is one of the major attractions for those international travelers. and, again, representative of that fact that when governor brown, most recently went to china, part of his entourage was the marketing vice president of sea world. >> reporter: as for risks, quote, we are highly leveraged. and perhaps unique to this company, the company cites potential risks to its animals, how they are treated, regulations, disease, and the risk to employees and guests. you may recall three years ago a sea world employee in orlando was killed by a killer whale. the company w