yes, bill ford of the ford motor company. 107 years of technology and innovation to safe and efficient and affordable transportation. bill asked me to leave boeing where i had spent my entire career to join a company halves struggling and an industry that faced incredible difficulties. it was another gem. of course we have to recognize a gem when we see one. we have to be open to life's experiences and expect the unexpected. from my perspective, the call from bill ford came from out of the blue. it was one of the seemingly random things that happen in life. but because i was open to the possibilities, i i decided the right way to follow my passion was to join bill and the ford team. boy, there were plenty of gems waiting for me at ford. but by working togethers as one global team, we have been able to fully leverage our resources around the world. today we've turned things around, we are creating an exciting, viable and profitably growing company for the good of all stake holder. we're building great products, creating a strong business, and we are contribute to go a better world. the last part is so important. for companies and for individuals.

the more business subsidies companies like boeing get, the more they're going to lobby for more. so it is a vicious cycle, but the way to stop it i think is to cut the spending. >> congressman, waxman, would you like to comment? >> the rich and powerful want to stay rich and powerful. unless the government gets involved to make things fairer for everybody, they're get more powerful. now that we've opened the laws to unlimited and unreported contributions from corporations, i don't think the lower income people are going to benefit. it's going to be the well to do. some of these guys like the koch brothers and energy companies don't want competition from alternative energies. they want to squash competition. that's why government has to be involved. all three of us and a number of people on the committee said we ought to fund research. right now on the house floor, we're dealing with the appropriations for the energy and water bill, and we are now cutting the money for arpae which does cutting edge energy research by below the administration's request and nearly a third below curr

it led to the creation of four companies and 82 patents. >> boeing says it has successfully tested the next generation of drone combat aircraft. hydrogen fueled drone can fly up to four days. current drones can stay airborne for about 30 hours. hates swing span of 150 feet. the phantom can be programmed to fly a completely computerized and controlled mission. >> another reason to keep drinking those cups of coffee. people 65 and older who drink three cups of coffee a day avoid the onset of alzheimer's disease. they did not get the full blown disease. caffeine seems to keep the disease at bay. >>> a kansas man who caught a fleeting glimpse of the golden gate bridge on the war in vietnam is in san francisco tonight. 63-year-old larry rich art son was so taken by the bridge he built his own 150 foot long two-story high replica over a creek on his farm. it took him ten years to do that. tonight he will see the bridge he has dreamed of since 1969. >> one the last times you saw when you were leaving this country. it was so beautiful. >> that is remarkable. they will be guests of honor at an

it led to the creation of four companies and 82 patents. >> boeing says it has successfully tested the next generation of drone combat aircraft. hydrogen fueled drone can fly up to four days. current drones can stay airborne for about 30 hours. hates swing span of 150 feet. the phantom can be programmed to fly a completely computerized and controlled mission. >> another reason to keep drinking those cups of coffee. people 65 and older who drink three cups of coffee a day avoid the onset of alzheimer's disease. they did not get the full blown disease. caffeine seems to keep the disease at bay. >>> a kansas man who caught a fleeting glimpse of the golden gate bridge on the war in vietnam is in san francisco tonight. 63-year-old larry rich art son was so taken by the bridge he built his own 150 foot long two-story high replica over a creek on his farm. it took him ten years to do that. tonight he will see the bridge he has dreamed of since 1969. >> one the last times you saw when you were leaving this country. it was so beautiful. >> that is remarkable. they will be guests of honor at an

company. he served on the boards of several major corporations including boeing and walt disney company, next month, in july, he is due to turn 69 years old. >>> thank you. >>> new information about the men who drove an suv into a building in northwest dc friday, a judge today ordered charles ball be held without bond he crashed on purpose because he wanted to get the fbis attention. he claimed his family was in dane earn and no one would listen. the -- danger and no one would listen. there was passably gas on the passenger seat. no one was hurt, ball is charged with assault and intent to kill. >>> a virginia woman facing new charges in a crash that killed another woman. laurie shipe of warren tore ran a red light and hit another car saturday night that killed apassenger and dog in car. she was initially charged with dui now she is charged with aggravated and voluntary manslaughter and maiming by dui. >>> sky fox flying over the scene in hyattsville a car crashed into a house on willow lane, four people were in the house at the time, no one was hurt though. police did find the driver they arr

it led to the creation of four companies and 82 patents. >> boeing says it has successfully tested therone can fly up to four days. current drones can stay airborne for about 30 hours. hates swing span of 150 feet. the phantom can be programmed to fly a completely computerized and controlled mission. >> another reason to keep drinking those cups of coffee. people 65 and older who drink three cups of coffee a day avoid the onset of alzheimer's disease. they did not get the full blown disease. caffeine seems to keep the disease at bay.. >>> a kansas man who caught a fleeting glimpse of the golden gate bridge on the war in vietnam is in san francisco tonight. t sonar-old larry ric was so taken by the bridge he built his own 150 foot long two-story high replica over a creek on his farm. it took him ten years to do that. tonight he will see the bridge he has dreamed of since 1969. >> one the last times you saw when you were leaving thistry. country. it was so beautiful. >> that is remarkable. they will be guests of honor at an event expected to be held wednesday at the golden gate bridge. >

underground stations by 2014 the company says the surveillance cameras are already being used a military bases tourist attractions and places like the city of houston boeinge in the world trade center the company claims limited success in detecting muggings and other crimes. live in san francisco sharon since cbs five. a high- speed chase in the east bay tonight and sparks were flying more than half a dozen police cars were chasing his pickup truck on interstate 681 that creek in the area that truck was traveling on to rim's throwing out those parts. the chase started in spitzbergen ended at the stone valley road accident danville when the driver to stop to is taken into custody we did not know what prompted this chase the of fast lane southbound 680 is still shut down right now. in that area. and did not a story we first brought you earlier this week in a private church school% to dew exist now and oakland school board member is calling for a full investigation. >>> would be raising money for? >>> sitting a private school. they got cameras from st. andrew in west oakland soliciting donations at barred stations to help pay tuition. but a joint investigati

attention to our own analysis of growth in china and that's going to mean potentially trouble for companies like boeingaterpillar, companies that just are great companies here, but huge exporters to asia. >> scott, thank you very much for joining us. >> coming up, a squawk ceo call. auto nation boss mike jackson, what his car sales can tell us about the broader health of the u.s. economy. on my journey across america, i found new ways to tell people about saving money. this is bobby. say hello bobby. hello bobby. do you know you could save hundreds on car insurance over the phone, online or at your local geico office? tell us bobby, what would you do with all those savings? hire a better ventriloquist. your lips are moving. geico®. fifteen minutes could save you fifteen percent or more on car insurance. >>> up 49 -- 69,000. >> the president's policies have made it less likely to businesses to want to hire more people. >> as we learned in today's jobs reports, we're still not creating as fast as we want. >> we have indiscriminate panic-driven selling. that's what bottoms are made of. there's almost no r

boeing is making its dreamliner planes faster than anticipated. shares jumped 3.5%, rising to a one-month high. the dreamliner was delayed coming to market and has experienced production delays, but investment company sanford bernstein is optimistic about the rate of production. just yesterday, boeing announced plans to sell 1,000 jets this year, a target that wod make it the plane maker in the world after losing that title last year to airbus. the move of technology companies toward paying shareholders continues. after the close tonight, dell said it would begin paying a quarterly dividend. dell will begin paying eight cents per share per quarter. at tonight's closing price, that gives the stock a 2.7% yield. it may be a ray of sunshine for beleaguered dell shareholders. shares hit a 52-week low during the session today before finishing up about 1% to just below $12 per share. with tonight's dividend announcement, the stock rallied another 3% from this closing number in after hours action. another tech stock that has had some tough times, texas instruments found buyers today, up 2%. the semiconductor maker updated its quarterly financial outlook right around the mid-point of its previous predictio

but also, too, aircraft engines retooling in order to provide the aircraft engines for companies like boeing and lockheed and curtis and all the other airplane manufacturers for military aircraft. and then, finally, planes themselves. the most classic example, of course, being willow run outside of detroit in ypsilanti where ford takes on what seemed like the impossible task of building b be-24 liberator planes, hugely.com plex machinery, and yet managed to bring it off. and likewise gm itself, its eastern aircraft plant which takes plans provided by roy grumman's company and makes the grumman wildcats and, also, the tbm avenger torpedo bombers. george h.w. bush's plane, the one he was shot down in -- you've all seen that -- that's a tbm avenger made by general motors as were thousands of others in the course of the war. american automotive industry, one key aspect of that productive and innovative quality. also the aviation companies as well, and you have to remember that these are aviation companies at this time, these are commercial companies that do military orders and supply those, but

companies including lockheed martin, boeing, and northrop grumman may send thousands of laid-off workerslayoff notices to workers if congress fails to reach a deal. american airlines will announce another round of management job cuts today. the bankrupt carrier is also cutting back its schedule. pilots are expected to take sick days at a higher than normal rate. american has been trying to get out of some of its union contracts including with its pilots, to cut costs. renting an apartment in the d.c. area is getting more expensive. the average rent is up 3.5% from a year ago in the area. a real-estate firm says that is much better than the national average which is up 6% with miami seeing double that. live at bloomberg headquarters in new york, linda bell reporting for abc 7 news. back to you. >> thank you. it is 5:50 on this wednesday morning. >> let's check in with adam caskey to find out how the day is shaping up. >> a few sprinkles out there especially if west of washington and on the eastern shore. it is not on us, but around us. a beautiful sunrise over the nation's capital. i love

boeing. the new smart phone by samsung, the galaxy. companies have been in court, accusing each other of copying designs. the smart phone market is worth about $200 billion worldwide. apple is seeking to block the new was phones from htc from hitting the markets. at the new york stock exchange, i'm jane king, bloomberg news, for wbal-tv 11 news. >> the economy is still on shaky grounds and some workers are clinging to jobs. >> workers are staying put as the economy tries to recover and what jobs could make you more susceptible to gaining weight. >> thank you. >> 5:223. 59 degrees on tv hill. a local company wants to try some different colors for the ravens this summer. >> don't forget to e-mail us your response to our water cooler question of the day. do you think the city of baltimore should call in maryland state police to help control downtown violence? you can share your response on wbaltv.com, on our facebook page, or send us an e-mail to watercooler@wbaltv.com. >> a familiar face and voice is signing off. dave durian is retiring after more

boeing and lockheed martin. we are seeing private space companies now taking over the mission that nasa once a solely owned in the united states as you watch as the spy satellite makes its way up into the space. now there were delays with the launch because of tropical storm debby that was raining over florida and that storm is now moving out to sea. you can see but left behind. >> mark: now this is in live oak fla., gov. rick scott visited the area present obama has already declared a state of emergency. >> darya: now we want to check out our own weather and traffic with a school to erica first. >> erica: we do have a lot of cloud cover situated over the bay area. and out of his waking up to some morning fog that was evident along the coast line and we do have airport delays. we have up to an hour and 23 minister to low visibility no reports of any delays. now taking a look at the temperatures run outside the door. we see a wide range of 50 for the most part. we have 57 for oakland 55 for downtown san francisco as we see exactly where the numbers will go in the afternoon the future forecast shows by about 12:00

one ceo said regulators are making companies guilty until proven innocent. and this is the the head of boeing. is this grounding jobs right now? >> it is. it is not just boeing which was heckled by the administration for trying to open up the plant in south carolina to make the 787. it is every ceo from small businesses and to the large. on the margin, they are just not investing as much as possible and not hiring as much as possible. they are kind of in a soft employer trike is what we are seeing because of the uncertainty of all of the regulations and it is taking two points off of the economy. and we are having a two percent growth of economy. >> mike, does it have that much affect on the economy? >> a study by the heritage administration pointed out in president obama's first few years they extracted on average 46 billion out of the economy and almost five times as much as his predecessor costs with new regulations . people have to remember it is not the number of regulations the administration imposes, it is how big of an impact. obama care and dodd-frank. together they can impact 30 per

there are three names that you should know lockheed martin boeing and northrop grumman but today we're going to pay extra attention to that last company because it's just remarkable how much influence they have on lawmakers here in washington especially when it comes to winning the big money contracts for the biggest and most bad as weapons that our military can handle northrop grumman their response will for the long range strike bomber program a fifty five billion dollars project will replace our perfectly good b two planes that we currently employ one of their biggest claims to infamy is the f. thirty five think you guys remember that one that's the trillion dollar fighter jet that's been riddled with problems well despite their efforts to snag contract after contract from the pentagon northrop grumman obviously feels like that still isn't enough it looks like they want to be the top the number one military contractor see they gauge in a little bit of brazen pocket lining will put most other companies to shame the norther grumman lost a vice president to the public sector last year thomas mckenzie after ten years at northrop he bec

boeing had a good presentation the other day. aircraft. exxon, largest oil company. uh-oh.e one, two, three. jooint oil companies. bp and shell. royal dutch. i'm going to keep royal dutch. i like the yield. get rid of exxon and add a health care company. why not j & j? i just praised it. let's be consistent. and get rid of bp. we'll go into something like con-ed which we praised. con ed, jnj. lose a little bit of the yield but you pick up on the diversification. ♪ hallelujah >> now to avi in new york. >> caller: big chinatown boo-yah to you. a shout out to mott street. i have apple, new castle, kodiak oil and gas, at&t, netflix. >> interesting portfolio. we love chinatown. all right. real estate investment trust. that's actually a financial play. i don't really like those. i'll put it out there for the category of diversification. at&t, 52-week high. what's not to like. apple the greatest technology company of the age. kodiak, i saw an okay report. netflix. is that the same as apple? sn no. it's its own animal. it ain't kodiak. we have entertainment, oil, telco, tech. bingo

boeing's conference call. i bought a few shares at 74. then i heard nothing but good news. they had the biggest backlog of orders in their history and taking market share from air bus and other companiese, that meant the stock price dropped and i bought more around 70. what would you suggest i do with boeing? buy more, sell or just hold on to it. >> i have been puzzling over the same thing. we want to buy more and get even bigger. they're having an air show in july. i think they'll announce a huge number of orders. i say you stay in boeing and at 68 buy more. let's go to stafford in oregon, please. stafford. >> caller: hey, jim, how you doing today? >> real fine. how about you, partner? >> caller: good, thanks. my question is with the price of gas going down, will this be a positive for transportation stock? >> it depends very much. a lot of them have what's known as a fuel surcharge. trucking companies in particular, but so do rail records. that means they aren't as levered to it as you would think. the airlines, however, do. but you know what, last time i looked, hades has not frozen over. when it really gets down there, i may actually recommend the airline stocks. let geese to mari

boeing commercial airplanes announced his retirement. he is being relaced by ray conner. he is well known within the company, a smooth transition is expected, so again, mandy and bill, jim is retiring. >> thank you, phil, in the meantime, let's look at our business headlines. two dozen arrested in new york city and wrels for the largest hacker scheme. they exchange credit card, bank, and other private information in private internet forums. and the ftc is suing wyndham worldwide. they say they left to a security breech that lead to 500,000 credit cards being compromised and that resulted in $10 million of fraud losses. the losses edging at about two thirds of a percent. and watch out, facebook, zynga unveiling "zynga with friends." the ceo speaking with us, and he says it takes his company to the next level. >> what we're doing is building a network of players that we can in a scaleable repeatable profitable way, bring new games from ourselves and our partners to that audience where ever they are. >> zynga insures really tumbled on that news. they're down just 5%. which is interesting and also interesting w

. >> boeing, don't forget, this is a company winning orders from airbus. equity says people are too negative on oracle. >> this is incredible. melissa was talking about the idea that techs are not doing well. a buy, a dicey call to make. >> down from 2.5 to 3.5 wing sprint is getting its act together. >> percheski, he was a guy who actually worked with icahn, let's call him a protege. >>> what's coming tonight? >> it's a favor family night. we try to do mass names. i'm going to talk about coach, going to talk about michael coors and under armour. these are big family names. >> happy father's day, jim. >> same to you. to you. >>> when can he woman back, we'll talk about this weekend's greek elections and it's been about four weeks since facebook went public. both the venture al capitalist and the shareholder will weigh in on the company's future. keep it here. four walls and a roof is a structure. what's inside is a home. home protector plus, from liberty mutual insurance, where the costs to both repair your house and replace what's inside are covered. and

analysts have been debating what will happen to the company and what will happen to the demand but we spoke to a city gate after the call from boeing and he reassured that this will not affect that the mind of the jets. i would think that that will play in our turned out to be pretty good that it's the most more than we can all get in the world and the world doesn't need a lot of we're going to get all caught on the market called loeb says that it's about ninety one hundred that are a blend so that the world will need with less than a hundred that's a good capacity to jets it's a very big business about seventy billion dollars business in russia c.i.s. the whole market is about one falls in the airplane it's about them billion dollars and fifteen percent of all whole airplanes needed even russia's yes we can all guess so it's about them billion dollar market think from a marketing point of view made it absolutely why do so from and dream of the civil aviation market in this nation that it's here we need to double the world. car and isolate us from the business here from the side of course also try to give you those figures that are

jon: this particular plane, an md-83, was built by an american company, mcdonnell douglas, now owned by boeing. it was flown by american air carriers for quite a while. and in fact there were a couple of incidents when it was flying, when it was flown, i'm sorry, alaskan airlines in which it had to land prematurely because of smoke in the cockpit, that kind of thing. we have that graphic. maybe we can get it up on screen in just a moment. but at any rate, some of them date back to like 2002, peter, for instance. is that unusual for a plane of this age and will they look that far back into its history? >> first of all, no, it is not unusual. the md-80 was for many years a very common aircraft in the united states. american airlines still flies almost 250 of them. so it's, it's a good aircraft. it has got good safety record. it does consume a little too much fuel. so u.s. carriers tend to be shedding themselves of this aircraft but the investigation will go back as far as necessary to identify what happened to this plane. you know, there are reports that there were engine problems. they will loo

not little technology companies like microsoft. >>> other news, boeing naming a new head of commercialay conner is going to run that business, replacing another long-time boeing executive, jim albow. i hope i get pronunciation right. >>> ratings on facebook, research is out about a month after the ipo, barclays capital and citi setting a hold or equivalent rating on the stock. morgan stanley and rbc capital markets are beginning coverage of the social network with their top ratings. brian, you were looking at some numbers. >> they're coming out. the rundown, america. citigroup neutral with $35 target. bank of america/merrill lynch, $30 target. oppenheimer, overweight, $31. most bullish -- >> who's at $45? >> wells fargo. $37 to $40. jpmorgan's thesis f i can summarize it, is they think mobile has an opportunity to take off. that's the real question. so, you know, the valuation range is $35 -- >> is that a 12-month target? >> no one has -- >> by the way, jpmorgan's underwriters on the banking side were the most bullish. goldman was slightly lower and jpmorgan was closer to $39, $40. >>

petersburg, companies like ge, siemens in america, boeing, all of them fighting for orders against -- whether airbus or mitsubishi. there is this is to be done. if you think about the world economy, globally we have terrible infrastructure. and we have a lot of unethical business practices. a lot of corruption and lack of transparency and yet the world economy is still growing. if we can fix some of the infrastructure, we can rebuild it. i think there are a lot of opportunities out there for american companies. it'll just the an intensely competitive market jerry >> are you looking at an emerging markets like africa? it has not had as much focus as asia. >> one of our vice chairs, lest there be financed about 8% of all exports to sub-saharan africa. last year we did $1.4 billion worth of financing and already this year we can see that number. the prior year was an all-time high. i think it is growing -- after asia, it is the fastest-growing region in the world. the other strong area is less than america. colombia has been growing rapidly. our portfolio in mexico is our largest globall

money to buy, but it seems like a great tax deal to buy aircraft, so you get leasing companies that do it. i like boeingultiyear move. >>> and berkshire netjets making a move. >> bombardier doesn't trade here, so please be careful, but they've done some things right. >> we were note the move in seagate up 1.3%. that brings it up to -- that's up from 3.4%. he expects earnings tore $15 a share in 2012, also the fact that the company has a low multiple, but some people might say actually the company deserves a low multiple because of this terrible cycle that hard disk drive makers are in. interesting jux that position from yesterday's announcement and apple's announcement of the unveiling of the 15-inch macbook pro, this is only on flash. >> one of the things i remember from that period after shoe gart had left seagate, and lucco is still there, he constantly said we're a cash machine, eventually they got tired of it and took it private. i think einhornly void by the yield, but once they companies are in supply demand, they pass the point they're in an eek wishium i want so you have tore careful if you're

company's manned space work. you know, i'm curious-- you have so much background in engineering, you could have easily gotten a job at boeingockheed, but you came here. >> garrett reisman: if you had a chance to go back in time and work with howard hughes when he was creating t.w.a., if you had a chance to be there at that moment when it was the dawn of a brand-new era, would... wouldn't you want to do that? i mean, that's... that's why i'm here. >> pelley: and that's why most of the engineers we met are here-- building spaceships is the chance of a lifetime. if you reach the point of having a successful manned flight, what will you have proven? >> we're not doing it to prove anything. ( laughs ) you know, we know it can be done. we're just trying to do it a little bit differently, a little bit faster, and to push the... push the fence a little bit farther out. >> and then we can all go... i mean, i want to go into space. i assume most people here do as well. ( laughter ) >> pelley: how many want to ride? ( laughter ) okay. everybody wants to go. >> caroline wants... >> caroline conley: i'm... i'm not so sure. ( laughter )

boeing does a big operation for engineering in moscow. ford motor company sells automobiles. compared with economic relations between other big countries, russia and germany, america and mexico, america and china, is is pretty small. russia's entry into the world trade organization will create opportunities for american business. a number of american businesses are looking forward to that with some anticipation. i think one should be very cautious as to how big the relationship the two countries will ever have. the problem with that is that economics tend to be the balancing factor in international relations. it tends to make countries avoid conflicts in other areas. there is a lot of balance in russia's relations with europe or our relations with china. there is not much balance with russia and u.s. syria stabilizes the overall perception on both sides of the relations. host: wayne merry is a you're a senior fellow at the american foreign policy council, which is what? guest: it is a small institute in washington on capitol hill a few blocks from where we are sitting. host:

boe rate decision. >> and the luxury sector with a sales trade out of hong kong. find out what companies are benefitting from asian sales. one of the stocks he's recommending comes with a lifetime warranty. >> and is the debt crisis making bad behavior worst? an author has fascinating observe observations about greece. >> and we'll get investment strategy from big joe clark. he says china is the problem child in a no one wants to pay attention to. all of that and plenty more. >> janet yellen says there are three conditions under which the ped might ease if they sdecide the recovery is too sluggish. . >> there are a number of significant down side risks to the economic outlook. it may wel appropriate to ensure against shocks that could push the economy into territory where a self reinforcing downward spiral p economic weakness will be difficult to arrest. >> yellen of course is one of the more dovish members of the fed and it's likely her comments will be echoed by chairman bernanke as she's perceived being relatively close to the fed chairman. he'll be testifying later today. he goes bef

boeing does no have the a contract on this drone. they're mablging this, developing the aircraft on the company's own expense.ck house. don't have a bhieer yet, but hope fli somebody will buy it. >> chad, check back with you later, thank you. >>> so police say he killed and dismembered a friend then fled to europe. a canadian born actor speaks to a judge after being arrested in germany. i'm a marathon runner, in absolute perfect physical condition and i had a heart attack right out of the clear blue... he was just... "get me an aspirin"... yeah... i knew that i was doing the right thing, when i gave him the bayer. i'm on an aspirin regimen... and i take bayer chewables. [ male announcer ] aspirin is not appropriate for everyone so be sure to talk to your doctor before you begin an aspirin regimen. so he's a success story... [ laughs ] he's my success story. [ male announcer ] learn how to protect your heart at i am proheart on facebook. >>> now to berlin where there's new developments in a case of a man who was believed to have stabbed, mutilated and mailed out the body parts of a university exchange student