we were under leveraged by our standards. >> even blackstone were reluctant to finance blackstone?ll people were nervous about u.s. housing. lending to us, putting in huge amounts of equity, even though the prices were down, they were lending us less against the individual homes. banks were nervous. >> you've been doing this three years. you went in -- i remember hearing at least a three to five-year time line. i don't know if a that still is the case. okay. you're slowing your buying. when do you start to try to realize what seem to be potentially double digit cash on your returns you've been able to conceivably set up for blackstone? >> we've been fortunate on our timing when we bought these homes. good experience of the lease up of the homes. in terms of the exit we want to get the business fully stabilized. there's some public companies out there today, they're not trading great. i think that's a reflection of them trying to do a lot in the public markets. because of our investors we have the benefit of time. we want to really get the model right and when we do, we'll look to t

john blackstone on a case going to the supreme court. and elaine quijano in brazil where america's spirits are high, expectationszgám low. >> for us, win ago world cup is just not realistic. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> good evening, everyone. scott's on assignment. i'm jeff glor. the last u.s. forces left iraq in december 2011. president obama may now send some back. islamic militants grabbed more land today and the president returned from a weekend in california to consider options. they include sending special forces. we have a series of reports tonight including a team of sports in the region, but we begin with breaking news from david martin at the pentagon. david? >> good evening. one of the options being presented to the president calls for sending teams of special forces back into iraq. they would not go into the field to fight alongside iraqi troops but would train and advise them in an effort to recapture some of the territory lost to insurgents. a small flotilla of ships led

and john blackstone discovers a landscape artist whose canvas is the landscape. >> never would have thought they could be making a living raking in the sand. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. if it seems there is a shooting in a school every week now, a group that keeps count says there nearly is, about one a week since newed town. the latest happened just hours another near portland, oregon, and it was deadly. this is the high school in troutdale, where the police say one$ wounded a teacher. that gunman is now dead, apparently having taken his own life. chris holmstrom of cbs portland affiliate k.o.i.n. has the latest. >> a report of shots fired in the locker room. at least one person down. medical is responding. >> reporter: police arrived at reynolds high school within two minute of the shooting. swat teams moved in as student filed out with their hand in the air, including tate blaylock. >> everyone was freaking out, and we all ran into the weight room hallway, and we just hid and locked all the doors and there was jus

john blackstone on why the f.b.i. is so concerned about him. >> reporter: the manhunt for ryan chamberlain began as a hazardous materials team searched his san francisco apartment. along with some two dozen federal agents, local police and firefighters. sources say investigators found no working bombs in the apartment but gathered explosive materials now being studied in an f.b.i. lab. chamberlain's friends and associates received an on-line message this morning. its source can't be verified but it claims to be from chamberlain and says, "so much was broken from this past year and a half. i guess it was just insurmountable and the time's up." >> i had no idea that he was struggling with these demons. >> reporter: alex clemens a san francisco political consultant knows chamberlain and briefly employed him. this does seem shocking because more than a threat to people it does seem to be a suicide note. >> it appears in its title which is "good-bye" and a lot of the language in it, if you are reading this it means i wasn'

john blackstone, cbs news, san francisco. >>> well, coming up on your local news on "cbs this morningornado. i'm anne-marie green. this is the "cbs morning news." [ female announcer ] aaah, the amazing, delicious cinnamon and sugar taste of cinnamon toast crunch and cold milk. ♪ cinnamon toast crunch. crave those crazy squares. ? >>> more than 300,000 fans turned out to celebrate the los angeles kings big hockey win. the mayor said he joined on the celebration but he got carried away on live television. >> two rules in politics. never, ever to be pictured with a drink in your hand but this is a big [ bleep ] way to go, guys. >> later, the mayor apologized to say children should not say what he said. >>> toronto mayor rob ford is no stranger to controversy. and now the embattled leader of america's fourth largest city is about to have a musical. casting calls for a politician who admitted to smokinging crack. cindy pom reports. >> reporter: be prepared to get whacked by a camera if you're going to play canada's most notorious mayor. because that's how it's going to start. >> [ bleep ].

john blackstone, catalina island. >>> well, i don't see any relief coming anytime soon, really? >> no. maybe get a little drizzle overnight tonight. we have some changes coming our way. we have that triple-digit heat a couple of days ago but now we're cooling things down. the sea breeze is kicking in. the clouds are back along the coastline. they will hug the coast especially in the north bay into the afternoon. over san francisco right now, coit tower, the clouds continue to move on in. the temperatures are warming up away from the coastline. 77 degrees in livermore. 64 in san francisco. and 71 in san jose. the winds have been whipping in spots. south-southeasterly at 14 miles per hour into san jose. breezy this afternoon up to 24 miles per hour in fairfield. blustery throughout the delta throughout the afternoon hours. gusty winds in the afternoon, mostly sunny skies, patchy fog toward the coastline. tonight, the low clouds and fog make a return even some drizzle toward the coastline, cooler weather ahead for tomorrow. high pressure kind of backing out of the way. you have thi

blackstone, carlyle, kkr have raised billions of dollars but they are not spending it.cott is ceo of greenhill and company, one of the biggest independent m&a advisors. where is private equity? onmost are focusing liquidating the portfolio they have bought. it is a great time to sell assets, ipoing. they have shifted to other areas. kkr and blackstone are active in real estate and hedge funds. >> they've raised a lot of money. they have hundreds of billions of dollars in commitments for private equity deal. partners the limited one? the endowment, pension fund, does it went private equity to be spending the money or is it just as happy -- doesn't believe the money does not need to be spent until the david rubensteins or steve schwarzman's can find something worth buying at the right price? the smart limited partners would rather have them wait until the opportunities are right and values are low and they can really get attractive transactions. sometimes they fall into the trap of wondering why are you investing. the smarter ones realize that if prices are high, wait unt

[applause] and stephen schwartzman, chairman and ceo and cofounder of blackstone. [applause] >> hello, everyone, i am so proud to be here. i know i am announced as a reporter but when the subject is our veterans, i am not objective about service and sacrifice. i am very pleased to be here but i do want to pick apart president bush's speech. i think he'd ever read the leaves. did you notice he dropped to the d from ptsd? thank you, president bush. that's a really great first step, to have a former say that it's not a disorder. that helps remove the stigma. i am very honored to be with these two gentlemen today. i want you to just look here. they are representative of what can be done, what can be done to employer veterans, to help them make the transition. we have supply and we have demand. [laughter] employees onean million people in blackstone. , as former chairman of the joint chiefs, 2.5 million returning veterans already in one million more to come and i want to start with you, general pace. who are these veterans and what do they have to offer? >> thanks for a

john blackstone, cbs news, san francisco. >> pelley: and that's the cbs evening news for tonight. all around the world, good night. captioning sponsored by cbs captioned by media access group at wgbh access.wgbh.org public education system. a e strikes down *teacher tenure.* good evening, i'm veronica de la cruz. i'm allen martin. our ryan takeo reports on wt some are calling a huge blo teachers unions. ryan: we're here at walnut creek intermediate. but we could t any public school in the >>> a big stink in the world of cheese making. the old-fashioned way that may be going by the wayside. >> well, thank you for watching. the cbs evening news with scott pelly is next. >> see you back in 30 minutes. >>> our ryan takeo reports on what some are calling a huge blow to teachers unions. ryan. >> reporter: allen, we are here at walnut creek intermedia, but we could at any public school in the state. that is how far-reaching this ruling this. >> this is an extraordinary example. we haven't seen a ruling like this in 25 years or so. >> that ruling came from an la county judge. he says the

john blackstone, cbs news, san francisco. >> pretty cool. >>> well, coming up after your local news onority leader eric cantor's primary loss. we'll get reaction from capitol hill and analysis from political director john dickerson. >>> plus a look at so-called cloned vehicles used by drug traffickers. >>> and filmmaker sebastian junger joins us in the studio on his new war documentary. that's the "cbs morning news" for this wednesday. i'm anne-marie green. have a great day. -- captions by vitac -- www.vitac.com ptions by vitac -- www.vitac.com -- captions by vitac -- www.vitac.com >>> your realtime captioner is linda macdonald. >>> good morning, everyone. it's wednesday, june 11. i'm michelle griego. >> "hump day" is here. >> hi, everyone. i'm frank mallicoat. nearly 4:30. look who is back. >> hey. >> ladies and gentlemen, it's been a long time without you guys. >> yeah. are we supposed to say we missed him? >> no. [ laughter ] >> hey, guys. >> what's your name? >> good to be back here today. glad things are cooling down. high pressure weakening somewhat so the fog is back. the winds

here's john blackstone. >> reporter: in part of california, the likely return of el nino is raising hopes shrinking reservoirs will fill this winter. el nino gained a reputation for bringing stormy, wet weather in the winter of 1997-1998, when so much rain fell rivers overflowed and saturated clifs gave way. el nino develops when the pacific ocean near the eqaitdor warms and pulls the jet stream south. meteorologist professor john monteverdi: >> if that stays fixed which it can did in 97-98, through november through march, then we get storm after storm after form. >> reporter: we could use that, right? >> we could use it. >> reporter: but california could be disappointed. not all el ninos are equal. the warmer the ocean, the stronger the el nino. >> the caution is some of our indications indicate a weak el nino, and some also indicate a strong el nino, but most indicate a moderate el nino. >> reporter: a moderate el nino is less likely to break california's drought but whale watchers in southern california have seen indications that the ocean is warming perhaps more than climate models si

john blackstone takes a look. >> reporter: ed o'bannon led u.c.l.a.in 1995. today, he was testifying against the n.c.a.a. the lawsuit he joined claims their rules have conspired to deprive college athletes of any portion of the revenues earned through licensing of those athletes' names, images, and that n.c.a.a. is a textbook cartel, in violation of federal law. the case could change the economics of big-time college sports, especially football and basketball. it's estimated the profits from broadcasting has climbed into the billions of dollars. you got a lot when you were at u.c.l.a. >> that is correct. >> reporter: not enough? >> i think the big thing to understand is how much is being brought in. i think it's big enough for everyone to share a piece in that pie. >> reporter: today o'bannon testified he spent 40 hours a week on basketball and just 12 studying as a college athlete, but when asked by lawyers for n.c.a.a., he said the benefits were free education, traveling, playing on tv, and playing the best college sports can offer. donald remy is a

. >>> and private equity firm blackstone is ramping up the footprint in the hedge fund business now. according to reports, the company will fund several teams of traders to place a small number of big but risky bets at a time when many hedge funds are shying away from the types of wagers. this multistrategy hedge fund is pitched to wealthy clients in turn. shares of blackstone down slightly today to close to $33.44. >>> and coming up on "nightly business report," think technology plays a critical role in the financial markets today? well, wait until you see what the future may hold. that's coming up. >>> look at the calendar. tomorrow is july 1st. start of the new fiscal year and a lot of u.s. states and because of better finances and the number of them, residents will see some taxes getting cut, believe it or not. california drivers will see a 3.a% decline per gallon in their gasoline tax. connecticut residents will no long ver to pay sales tax on prescription drugs. indiana and rhode island will lower their corporate tax rates. people in businesses in idaho buying software through

steve schwarzman employs one million people in blackstone.former chairman of the joint chiefs, 2.5 million returning veterans, already and a million more to come and i want to start with you, general pace. who are these veterans, what do they have to offer? >> martha, thanks very much. first of all, thank you to you and steve for being here today. mr. president and mrs. bush and everyone here at the institute. this is terrific, thank you. dr. biden, god bless you for what you're doing at the national level. for all of you here in the audience i know many, many of you and you are each of you are here because of your love for fellow countrymen for serving the country. thank you for being here. so who are these veterans we're trying to empower? first of all they're patriots. every single one of them. has enlisted or reenlisted multiple times since 9/11. they know and they knew what they were volunteering to do. they were volunteering to enter the armed forces of the united states while the nation was at war and they fully knew and expected that

you have steve schwarzman from blackstone, and a hedge fund firm, american express, top and they losesome of their clout with the departure of eric cantor. partompany is off today in , eric cantor was one who was thought to deliver. boeing has used it to help further their sales abroad. there is an immediate consequence for the business community with eric cantor losing his job. thanks, and more on the political fallout of the eric cantor lost is coming up, and al hunt will join us from washington with his analysis of the virginia race, the tea party, and what the loss means for the republican party. that is coming up in about 17 minutes right here on "bottom line." not have toama may worry about reelection, but a new bloomberg poll says he is suffering from low ratings. just how downed is this on the president? >> according to the poll, the public essentially saying to the president, look, we are just not that into you. his favorability rating, this is something that measures how popular he is and how much he is liked by the public, they have reached new lows in this bloomberg poll.

blackstone buying properties for investment. we have the one percent.t the average american young families? .> young family is dead -39 and has a seven percent lower homeownership rate than parent or grandparent of the exact same age. the 70's.orn in are going up.s >> double-digit? >> silicon valley will go up double-digit. the rest of the areas, people cannot handle it. lex what you are really saying is people who cannot afford to buy will rent. they will drive up rents but in gets- in theory, rent higher than fighting so it becomes attractive? quack to find a love of migration to a portable markets. you see a lot of people going to texas and carolinas. >> do they go north to oregon and washington state? >> they are not as much. there is a tech movement to seattle. they are moving to arizona and texas. >> fascinating. please come back. west coast of the nation. can the rangers win one game? >> why are you asking him? >> they can't. >> limit of forex report -- let me do a forex report. markets are quiet. the quiet it is out there. trying to figure out h

>> caller: my five stocks are blackstone, suncore, delta, verizon, and coke.ield and growth! you know i like that. blackstone, long time recommendation, private equity firm selling off to hilton, looks good. coca-cola, i think the quarter was maybe a resumption of growth coming, i'm not sure, but looked okay. the beverage, delta, the airlines got hit, everyone runs to them immediately. i run through them like the airlines. verizon, what a fabulous yield. suncore, we have energy, we have telco, private equity, it's called finance. we've got beverage and we've got ae aero. how about gary in maryland. gary? >> caller: boo-yah from maryland, jimbo. >> i'm liking that entirely. what's up? >> caller: hey, what's going on? hey, got a roth i.r.a. i got everything on dividend reinvest. i got a kid on the way. let me know if these are good to hold for the long-term or if i need to make some changes. >> okay. >> caller: all right. general electric, johnson & johnson, jpmorgan and newstar energy? >> wow. okay. good yield here, again. but you'll see -- no, i'm okay. i'm ok

cbs' john blackstone reports what happened in the days and months ahead became a cultural turning pointre's a reminder of how it all unfolded. >> reporter: the murders of nicole brown simpson and ron goldman were brutal and shocking but when o.j. simpson became the prime suspect, it launched america's fascination with reality tv. >> for the audience, this was entertainment. and as sad as that sounds, it's the truth. >> reporter: the chief correspondent for inside edition was the main anchor for cnn's coverage of simpson's trial. >> this was the first high- profile case that was televised wall to wall, gavel to gavel, and you had a man who was a legend, a sports icon, beloved. people loved o.j. simpson. >> reporter: tv cameras were there live when police searched simpson's home. and there is word this morning that a broad soaked glove was found inside. cameras were waiting for simpson to turn himself in to police when his attorney robert shapiro made a surprising plea. >> for the sake of your family, for the sake of your children, please surrender immediately. >> reporter: then the white

john blackstone on a case going to the supreme court. and elaine quijano in brazil where america's spirits are high, expectations low. >> for us now winning a world cup is just not realistic. captioning sponsored by cbs

"the wall street journal" reporting that blackstone is going to launch a product akin to a hedge fundpetition for clients. >> well, as you might not be surprised to hear, blackstone hasn't confided in me about their plans so i read the article but don't know more than what was in the article. clearly hedge funds have come back from the great recession and while they went down a fair bit after the great recession in terms of dollar volume and their ability to track capital, it's now come back. and i say private equity and hedge funds are attractive to investors now because they're looking for higher returns. blackstone has done very well in its hedge fund and funds business and i think will try to leverage that credibility into a hedge fund itself. >> but it's becoming conventional wisdom these days that the fund to funds business has no future, that the fees are too high and it's been a lagging -- in terms of performance. you guys operate a ton of these fund to funds. is there a future for this business? >> john kenneth galbraith once said conventional wisdom is almost always wrong so

throw in blackstone, carlisle.now, these guy, killing in and in cases incredible yield along the way as well. >> another trader's take on these picks. what do we make of this, josh? like the sector? eight, ins? >> i do. the non-traditional asset manager, like john is talking about. they've clearly shown they've learned from some of the mistakes of the last cycle. a lot of them first going public and layering on huge investments at the market top. i agree with pete. they're going to go the other way. they've all sensed that things have gotten a little too carried away. way too much funding out in the market. not enough assets. we do see them making transactions on the sell side and if they keep doing that, earnings per share should look great and pete will be right. >> almost mid-way through the battle for trader of the year. steve weiss has made a move today. and steve, you've been gaining ground. i think there was a time you were in negative territory. you've made a good reversal here. a lot of time left. >> i get

john blackstone repor >>> key question in the area of social media, when do comments on posted line gond free speech and amount to criminal acts? the u.s. court is stepping in now to decide. >> reporter: the facebook rants anthony posted about his ex- wife included, i'm not going trees until your body is a mess -- i'm not going to rest, until your body is a mess, soaked in blood and dying from cuts. another talked about threats against an americans. he is guilty and sent to jail for four years. he argued he was exercising his right to free speech and had no intention of harming anyone. >> at what point are you accountable for what you say online. >> reporter: this attorney with the electronic frontier foundation which defends the first amendment online -- >> we would be able to stop all sorts of crime if we just arrested people based on what they thought and what they said without waiting for them to carry it out. >> reporter: is the line actually acting on the threats? >> i would say the line is taking a step toward acting out on the threat. it could be purchasing the weapon. it could

blackstone has been a path breakner this alternative asset business. boasts the largest fund to fund unit among direct competitor, but it is upsizing the effort and doing so as a time when kkr has reduced its footprint a bit. it wound down its equity strategies group. >> not an easy environment. particularly for a long short fund. a very trying time. >> i feel like it's a mixed bag this year. you see the average hedge fund is only up slightly, but overall assets at an all time high. so i don't know if the au mucm lagging indicator. we'll see. but it is a mixed bag. >> kate, thank you. >> and you won't want to miss nelson peltz, he'll be live july 16th, where he will be the keynote speaker. all right, team. let's move on. coming up next, transformers the summer's first true blockbuster. and then as if elimination from the world cup isn't bad enough, wait until you see what happened to the south korean team when they returned home. our worst trade of the day. we're moving our company to new york state. the numbers are impressive. over 400,000 new private

david: also private equity powerhouses like blackstone group, they are sitting on a mountain of cash,h, more than a trillion dollars in fact. coming up we're going to find out where those firms could put all that money to work and how you can get in just as they do. that's coming up next. ♪. when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. the numbers are impressive.y to new york state. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new

john blackstone, cbs news, san francisco. >>> pretty cool."cbs this morning," more on eric cantor. >>> plus a look add so-called cloned vehicles used by drug trafficke traffickers. >>> and we're joined by a fully. maker on his new dock men tray. that's first this wednesday. i'm anne-marie green. have a great day -- captions by vitac -- www.vitac.com >>> today, it is wednesday june 11th, to 20th 14, i'm natasha brown in for ukee. >>> i'm erika von tiehl. here are stories we are following today. shock and concern after a first grader brings heroin to school. this morning we are hearing from parents whose children had to go to the hospital. jen bernstein joins with us a live report coming up. >>> waiting for 495 bridge in delaware to reopen, don't hold your breath, latest on is what wrong and when officials now expect it to be fixed. >>> the son of the philanthropist lewis katz makes a big announcement we will tell you why he is not moving forward with plans to buy the inquirer and daily news. more on those stories coming up. with you first lets

also, blackstone. we talk about m and a in this environment, i think a lot of upside.lackstone benefits from this m and a environment, about have about 10% higher to take out their old high and nice dividend, a great way to plate financials. >> that graphic we showed said wells fargo, made it clear, talking about whole foods, wfm. >> yes. >> steph, you're up. pound the table. >> pound it >> i will do it. >> feel like i have been talking about financials forever, really bullish on them, suntrust in my playbook last week. i'm not gonna pound the table on that one, i do like tm and t bank a lot the regionals, one i think lagged on the big side is goldman sachs, lagged 22% the last year. play m and a, best in breed, highest roe in the business that is the one, valuation is attractive. i like the industrials within that, non-res construction, look at hd supply today, a very good quarter and said that non-res construction improved throughout the quarter, 4% growth in sales in march. that increased to 10% in may. seeing acceleration and i have said eaton and ingersoll rand, o

tonight john blackstone reports the u.s.o decide. >> reporter: the facebook rants anthony malonas posted about his ex-wife included i'm not going to rest until your body is a mess soaked in blood and dying from all the little cuts. another said enough elementary schools in a 10-mile radius to initiate the most heinous school shooting ever imagined. a pennsylvania jury found him guilty of making threats and sentenced him to almost four years in prison. he argued he was simply exercising his right to free speech and had no intention of actually harming anyone. at what point are you accountable for what you say online? hani percori is an attorney with the electronic frontier foundation which defends the first amendment online. >> we would be able to arrest all sorts of people without waiting for them to act out and carry that out. >> reporter: is the line actually acting on the threats? >> i would say the line is taking a step towards acting out on the threat. it could be purchasing the weapon. it could be scoping out the schoo

and john blackstone discovers a landscape artist whose canvas is the landscape. >> never would have thoughtd be making a living

. >> david blackstone collected a dividend last year. >> oh, did they?hey own 80% of the company. this is the potential for an exit strategy in the same way of blackstone took the lodging interests public to have a second degree offering further down p line. >> of course, you'll sell down the line, and with blackstone conceivabl conceivably, what you have to do, exit investments and get out of the fund. you raise money, a seven to ten year life maybe, as much as that, and you want to start returning it. this, i can guarantee you, not one of the better investments. >> carl, it's a profitable company, posting growth, has over a thousand stores and calls itself the biggest arts and cra retailer in the united states. >> not like an amazon. >> depends what you're into. >> the first retail ipo since the container store. we've not had a lot of proxies for retail exits for a while. aside from market capsize, that's why you pay attention to how michael's is received. at any rate, fascinating story that amazon does not have told often, and bezos will be interestin

john blackstone on a case going to the supreme court. elaine quijano in brazil where america's spirits are high, expectationszgám low. >> for us, win ago world cup is just not realistic.

one tornado touched down near a junior golf tournament southeast of denver, another one near the blackstone country club in aurora causing at least one injury as well as uprooting trees and downing power lines. >>> little rock, arkansas, is bracing for more heavy rain and damaging winds after a storm system produced microbursts of wind gusts and reports of tornadoes. it uprooted trees, downed power lines. crews have been scrambling to try to restore power. >>> time now for a look at today's weather. those heavy showers and thunderstorms will gradually move east blanketing much of the midwest and extending into the south. some areas could see as much as 4 inches of rain, but aside from scattered showers in the northeast, the rest of the country should be clear and dry. >>> it'll be another scorcher across the southwest with phoenix again hitting 108 degrees. 80s and 90s across the south. cooler in the northeast and great lakes. 70s and 80s. >>> all right, coming up, adding insult to injury after his loss on saturday, california chrome now being treated by veterinarians. >>> plus new details.

john blackstone is following the nationwide manhunt for ryan chamberlain after the f.b.i. found explosives in his san francisco apartment. n pook on a promising new treatment for women with advanced cervical cancer. and living history, dean reynolds with one of the americans who helped liberate europe 70 years ago this week. >> did you ever think you were going to die? >> sure, every day. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> dubois: good evening, scott

here's john blackstone. >> reporter: the golden gate bridge was shrouded in fog today as families of those who jumped from the iconic structure urged the bridge's board of directors to stop the suicides. >> i lost my husband. >> i lost my... 17-year-old daughter casey. >> this is a picture of him saying good-bye three minutes before he jumped off the bridge. >> reporter: the board was voting on a plan to add a suicide-prevention net, something families have been pressing for for 20 years. >> there's nothing i can do now to bring my son back. i'm doing this for other people. >> reporter: why did you choose the bridge? >> very simple-- four foot- nothing rail, easy access. >> reporter: kevin hines jumped and survived in the year 2000. >> i walked back toward the traffic railing. i ran forward, and i catapulted myself over the rail. the single worst action of my life-- i wouldn't call it a decision. >> reporter: for years, critics have complained a net would ruin the golden gate's classic design, that the estimated $76 million cost was too much, and that the suicidal might just go somew

john blackstone tells us some entrepreneurs have phoned a solution which is giving city government road: at some time, every driver about to pull out of a parking spot has thought i could sell this space. now there's an app for that. this would be saying here's my parking spot that i'm about to leave? >> so this spot is available. i'm about to leave.gpw3 i posted it for $5. pull over and take a look. >> reporter: dan shiveron is cofounder of park modo, a smart phone app, that fair price will match a driver searching for parking with someone about to leave a space. >> why not meld the efficiencies of a marketplace that ultimately can make a very bad situation, like parking in the city, better for everyone? >> reporter: park modo, along with two similar apps, monkey parking and sweep, have chosen san francisco as their first test market. this city, crowded with technology companies and never enough parking, would seem the perfect place to launch a smartphone parking solution. but san francisco has declared the parking apps illegal. matt dorsey is spokesman for the city attorney. >> this i

you have blackstone, deutsche bank, mcquarrie all lending money or buying stock in this alliance. >> how do regulators deal with this new entrants into the online gaming industry? >> the big issue for poker stars is that it was one of the companies that was taking bets from u.s. players before it was really legalized in the u.s.. entitled -- and -indicted. this was an issue for re gulators. gotten anrt of indication from regulators in new jersey saying that they --come this deal because as it is an opportunity for poker players and that state. not everybody is going quietly. sheldon has been very vocal about lending money to prevent online gaming. >> that is one of the biggest andlenges for amaya and mgm other people who are trying to big business of online gaming. the guy he was the richest in the gaming industry is opposed to list. he is opposed on moral grounds and business issues. it will be a fight. it is not clear whether it will be successful in getting a law outlaws online gambling, but he may be successful in blocking it's in california. >> the family of the head of tars doi

for "cbs this morning," i'm john blackstone. >> cbs news legal analyst rikki klieman and jack ford bothed the o.j. simpson trial. good morning. >> good morning. >> good morning. >> what changed in terms of the coverage of trial? >> i think what happened is this made public trials part of the cover. this kind of became the first reality show. everyone was plugged in. it had all the elements of great drama. you had o.j. simpson, a superstar allegedly fallen from grace. you had violence, sex, and celebrity. it launched the notion of reality shoes and it launched the notion of crimes and what happens inside a courtroom as a form of entertainment. >> were most people surprised by the verdict? >> i can say we were shocked. we can, of course, remember back to the newspaper coverage where we would see those photographs and it looked like it was split by racial lines, that you had african-american people cheering and caucasian people look like they were crying. but the truth is for us, those of us who had covered that trial day in and day out, that when that jury had come back in four hours, the

blackstone quietly getting ready to launch and mega fund sources say.est of the industry is doing. we will tell you why. and facebook playing with emotions. i look at the psychological experiment. if you were a child of the 80s or the 90s you may be a fan of "reading rainbow." the successful crowdfunding efforts to relaunch the program is a fox business exclusive. we will move up to blackstone, it already has a biggest piece of the puzzle if you like the hedge fund. now it is expanding. under the leadership

that seller is blackstone which, of course, owns most of the company.going to be selling what is it 90 million shares at least they've told the market. >> but if you bought it on the deal you did fine, you're up. not they're being greedy. pretty good. good trade for them. >> last week we spoke with john. i don't know if we have that ready or not. we did speak with john gray who runs real estate at blackstone. >> i like him. he is so impressive. >> so many potential exits for blackstone, whether hilton or extended stay or la quinta, all these companies they brought to the public markets over what is it the last six months or so. and obviously the game plan is, to sell. here's what he had to say about how they're going to execute those sales. >> the nature of our business we have to sell. we have closed end funds, we say our model is buy it, fix it, sell it. think about exiting how are we going to do that? we are going to do it in a methodical way over time. there's no rush to do this. these are good businesses we own or have controlling stakes in. the ma

his big-money donors include, the blackstone group, goldman sachs, oracle, and horizon communications. and eric cantor is most closely aligned with the tea party, or at least he was. everyone wants to see the polls and how much money you raise. they don't know what's going on on the ground. and was he ever proved right. here he is telling fox news how his honesty delivered victory. >> i think those are right or left issues, free-market constitutional issues. right now this political dialogue is based on the entire campaign. and the people resonated with that. lou: the congressman has responded by claiming to be anti-amnesty. but has professed his desire to work with the white house on issues such the dream act and other bills this year and congressman eric cantor also accused of taking attention from his district before blaming his leadership responsibility. >> i was in my district every week. we have been serving constituents at home and never was very day when i won't put the district constituents first. i will continue to do so. lou: two of the best in the business analyze what thi

breaking news that just crossed the wire in the last five minutes -- dvr and blackstone -- blackstone continued to plow money into real estate here. cash is free, right? >> there is our front page. our guest host this hour, neil macro renaissance research. we're also thrilled to bring you anthony punter oh. o. he is knee-deep in the world cup. feifa. he will give us a terrific perspective. with you.me start women fed meeting june 18. i know scarlet wants to talk about jobs. what would you guess care yellen is focused on on this thursday morning? >> i think she is focused on wage growth. she is focused on how viable the unemployment rate is as a signal of labor market health. >> is it a viable signal? >> i think so. and i think it is a very good question to ask whether it is reasonable to type monetary policy for lagging indicators of the economy like duration of unemployment, long-term joblessness, and it is also a question, look, we are generating a lot of jobs. over the last 12 months, 70% of the time, the employment numbers coming above 200,000, yet monetary policy has gotten easie

for "cbs this morning," john blackstone, los altos, california. >> great for mr.at and it's $30. affordable. we uls like that. >>> tomorrow on "cbs this morning," most high school football players don't go on to play for a division 1 college. one faced greater odds because he's legally blind but he's getting a chance too. we'll bring you his story tomorrow. you're watching "cbs this morning." we'll be right back. >>> gayle, you were way with the maya angelou funeral. it was a favorite place. >> my favorite word was joy and itit was certainly that. >> my favorite word was joy and itit wasmale announcer:. commemorate the war of 1812 bicentennial and join our traveling celebration as the chesapeake campaign visits town festivals up and down our shores. visit starspangled200.com. presented by at&t. maryland. land of discovery. male announcer: during the 150th anniversary of the war between the states. order our civil war trails guides at visitmaryland.org and download our new civil war mobile app. maryland. land of history. >> truck driver that happened early saturday

blackstone group topping the list. sachs, all trio group -- altria group.he top five industries contributing to his campaign. securities and investment, real estate, retired, lawyers and law firms. the number two was defeated last night by a t party challenger, dave brat. getting your thoughts on that this morning. connecticut. republican caller. just think this is a warning for all politicians, not only eric cantor -- democrats also. the people of this country are fed up with what's going on. in action from congress -- nobody is enforcing immigration laws. barack obama is issuing a pot of executive orders and going around congress. he is going around "we the people." congress represents the people and we have a say. -- issuing a lot of executive orders. he is cutting out the voice of the people. this is a big warning for republicans and democrats. we want immigration. we want our borders secured. host: george in phoenix, arizona. limits should be imposed. people are starting to impose term limits. with little money defeated eric cantor. people are tired of