the concern i have, cap or no cap, i just don't believe that that sized unit belongs in an area that isn't an established residential area like south of market. south of market has over 40,000 residents and 40 acres of parks managed publicly, not by cbd but recreation and parks. that's 1/10 of an acre per thousand residents as it stands now managed by recreation and parks. the green envy report produced in 2007 by the former neighborhood parks council has very well detailed. district 3 and district 6 are yearning, aching for more green space. and without that green space, i'm not sure it's humane to have such small units in those spaces. now, maybe along the jay church line, maybe along the l, the m, the t, the kt, maybe that's the spot for these efficiency units where there's parks and stuff. i do have an overhead that i want to show. the congestion in south of market has created a health problem, an air pollution health problem. locating most of our affordable housing these days, 35% of the 3,000 units being built in transbay will be in this area where the particulate matter in the

that becomes a very, very substantial portion of its market cap. on almost any metric this stock is really inexpensive and its projects are still very, very bright. if you look at its core market which is smartphones, only 42% of all handsets sold globally this year will be smartphones. we think that percentage is going to go to 85% over the next three to five years and that's going to drive very strong continued strong unit growth if apple's core market. >> do you think people get that there is a price where apple could trade where the market cap would be almost made up of cash and what cash they have a year from now and that the dividend wo would actually be big. if you kept at this pace, at this philosophy, we would hit that level soon. tony? >> absolutely. look, i think if you do the math we're at $130 a share in cash right now. over the next three years. we think that apple can add another $140 or $150 in cash. have you cash levels on the balance sheet of $250 to $300 a share. again in the context of a stock that's trading at $550, that's real

>> c-cap stands for careers through culinary arts program. we provide career, education, and scholarship opportunities for underserved students throughout the nation, all in the culinary arts. >> the contenders are given the recipes in advance so they can memorize the ingredients and practice the process. when the competition begins, they have two hours to impress the judges. >> we're looking for knife skills, organizational skills, focus, good mise en place, which is everything in its place, done properly, and, of course, appearance and taste. >> on the menu for this competition -- supreme poulet chasseur avec pommes chateau. or you can just call it chicken and potatoes. for a dessert, crepe sucre with crème patisserie and sauce au chocolat. don't speak french? this one's easy. you can call it mouth-watering. >> the crepe i just tried, which was done right away, was excellent. >> these kids love to cook, but now they're doing it with famous chefs looking over their shoulders. so, what does it take to impress a top chef? >> i say be really or

student housing, group housing, and affordable housing will not be subject to this cap. once we get near the cap, and once the planning department does its analysis we will then be in a position to decide whether or not to extend this legislation. colleagues, i think that this is a very positive step afford. i am very appreciative of everyone who participated to getting us here and i ask for your support. i do have some technical amendments to the reporting and reauthorization process in terms of clarifying what will go into that analysis, and making clear that the planning department, in conducting its analysis, will collaborate with the mayor's office of housing to make sure we have very complete data, and also just clarifying how the analysis will take place. we've distributed those amendments. they're non-substantive and i would ask we adopt those amendments to item 39. i also want to acknowledge sophie haywood is here from it the planning department and i want to thank her for her help and participation as well. thank you. >> president chiu: is there a second? secon

one is the overall cap.al amount of deductions or capping the tax value of deductions like maya and marty feld stein have put forth and the advantage to that is politically you're not actually attacking anyone -- any one specific subsidy, you're just saying we're putting a cap on the overall system. a second way is what john podesta mentioned, we are going to change specific items but wohl change them all in the same way. you're not special, we're not picking on you, so we're going to change all deductions to 18% or something like that. the third way which is probably the perfect way from the economic approach is to deal with each of these on an individual bay sess. tax expenditures generally cover an enormous range of activities whether it's ex-cluges or deductions or credits or lower rates, etc. we call them all tax expenditures but it shouldn't hide the underlying heterogeneity. so a package that went after, say, the mortgage interest deduction is not economic justified, might simultaneously keep the char

all told more than $40 billion in market cap washed away. is the pain about to end for america's best loved company or is even more selling ahead? pete and john and jerry and stephen weiss and terranova are the traders. apple sits at the lows today as we come on the air. >> right. i have yet to find a reason for me to dip back into apple presently. you know, there's different stories out it seems like each and every day why it's out, what the buys are and selloffs all. forget all that for a moment. the stock seems to be stuck in a range and tlink are other opportunities out there. there's a lot of expectations for why it's moving around the way it is. specifically people are pointing to, is it for tax reasons? the other day it was for the margins. whatever the reason you're seeing an accelerated move each and every day. i haven't seen a reason to jump back in there yet. i still own the stock but not to add anything to it. i still think there are far better beta names out there to trade. >> doc, are you at odds with your brother? i want to re

before you get too excited you should know that the caps are not playing. the minor league team, the hershey bares, the -- bears will take on the new york admirals. the hockey fans are dieing for action out there and matt ackland is live with more and to tell us why business owners are happy. >> reporter: it's about the mean. you know there is a lot of businesses and restaurants, bars around the verizon center and when the caps don't play, they take a beating. when they can't take in the revenue, they have to cut back on the hours employees are hire saided and -- hired and those employees take a beating. the verizon center transformed downtown, bringing many businesses and jobs to the area and they rely on the customers. >> they get hurt the most and -- they normally would be -- and on to christmas eve right now. >> reporter: preparations are underway for a big night. the staff is added, the kitchen is stocked and standard procedure for caps games except this season, there hasn't been any and tone's minor league hockey comes at the right time. >> absorter:

bottle cap hangs the work of local artists on the walls. the dining room has works showing every one to two months in rotation. they have hosted numerous charitable events and guest bartender tonight for events and receptions and fundraisers and for singing groups. i want to thank liz the work you're doing in employing folks and allowing your restaurant to be the site for community meetings that we work on difficult but hopefully solvable issues and i want to take the opportunity to thank you and your husband what you're doing with bottle cap. thank you so much. >> thank you so much for the recognition. it's a tough business. it can be challenging and we appreciate the support very much. thank you. [applause] >> our district two colleague will provide the next accommodation. supervisor farrell. >> thank you president chiu. colleagues today i have the honor of honoring a couple in restaurant district two which had its legged started in a different district. i don't know if it's district nine but i am proud to bring forward craig and annie st

what kinds of things would be capped, and a tax expenditure cap -- what would you do if you had progressive rates, or face attack at the upper incomes, and a way to offset the costs. if people were getting hit, you can compensate for that in other ways in the code. my main point would be we do not want to walk away from the opportunity to reform the tax code. it is swiss cheese, the thing that everybody hates. think it is hard to fix these problems. one of the reasons people talk about lowering the rates and a broadening the base is that is what how you helps the incentives. we do so much money that you can reduce the deficit significantly, lower the rate, still have the group you are asking to pay more, pay more if you're willing to broaden the base. the point i would make is that as difficult as it is, we should use this opportunity to think about what a most sensible tax system is, and one of the pieces we have made progress on, which will have real revenues as a budget deal, and that along with spending and economists is critically important. no matter how we raise or how much we raise

the idea that we're going to put in a cap that's going to affect housing prices at this moment, which i assure you the kinds of caps we're talking about will because people will know that if they got state taxes of this much, they are not going to get deductions for home marge interest is extremely risky in my opinion, even though nobody's talking about it. the third thing i'll say about the policy is that if you put in a cap, you better not do it on charitable deductions because if you're a republican, and you really believe, and to take george bush's phrase, let a thousand lights, the non-profit sector, the create evident, you are going to severely inhibit charitable deductions with policies elastic in terms of price, and price goes up if there's an overall cap, and that's going to be the first thing to go because the state and local taxes can't go unless i'm rich, i can't pay off my home mortgage interest, but if i am, of course, i can, and so forth. we need to separate out business taxation from non-business taxation because the individual income tax is being held hostage to the f

david: we were talking about cap gains or business taxes likely to go up in 2013.ork in favor of people thinking to buy small businesses. folks skiddish about putting cash in the stock market might take over a small company and invest in the long term, actually own a company. are you hopeful that might happen? >> well i think the way we look at it is when small businesses is thriving that is when small businesses can change hands. 54% of the jobs in the our economy are private sector jobs in this economy are provided by small businesses. so when small businesses are thriving they can hire people, they can invest in the economy and also turn over and that turn over is what creates additional investment. when people who are unemployed decide to buy a small business they will offhen hire one or two people and invest in the business to get it to grow. that is the cycle that gets us out of the recession and into good economic times. sandra: when i hear it is a buyer's market for small businesses what can i do as a small business to make myself look good as we head towar

by selling the higher strike call mike capped this profits.ince the time of the trade shares of ebay have risen by 8% making this trade a winner. now they must make a choice, stay in the trade and hope for more gains or close up and find the next stock to bid on. >> "options action" biggest fan. only wants to know one thing. >> before we answer that let's see how much money was made had you bought ebay at the time of the trade, sold today for 2.35. that is a return of almost 70%. what should they do now? let's go back to the charts. >> i think you have to walk away from this. it has three quarterly gaps and the stock is extended. take the money and run. >> the stock is extended. >> we are a little bit closer to the strike that we are long. what ends up happening now is we are starting to decay away. >> exit the trade. do you think that is a wise move especially going into the holiday shopping season. >> it is making five, six, seven year highs. this is on a lot of people's buy lists. when you look out from 2013 there is expected earnings growt

it was mentioned on the caps. a quick anecdote on the caps. the numbers for 1991 and 1992 were fought over to the nail. now we can not 1993, 1994, 1995. remember, this was budget authority and outlays and 1991 and 1992 were three different categories. starting in 1993, it was just one category. so he turns to me, he was

so we pull back on cap "x" and gain cap "x" and we include head count. >> us a well know, mark, we've had a whole parade of ceos like you who tell us the very same story. we're waiting. what are you waiting for? what would you like to see from washington that gets to you unleash that cap "x" and other things? >> the best deal would be a big deal. >> you want a grand bargain? >> i mean, americans don't want plan "b." they don't want a short-term fix. they want the very best we can come up with, plan "a" and we should be focused on that. >> doesn't that have to include higher taxes, maybe even higher corporate taxes, lower government spending. i mean, that in and of itself is an austerity plan that we're waiting for, isn't it? >> i don't think it's necessarily austerity. the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who

. >> looks like what is that, like a hub cap? >> a hub cap. design, a paint design, full loading if you will on the water. you dip the item into the water and the paint. >> and watch what comes out. >> weird. >> what? >> that is crazy. you know what, it's so precise too. like you think it would be messy and smeared and grs, but no the lines are perfect. >> to explain this process we're going to bring in our text expert, zach. >> hi. >> hey, zach. >> hello. >> what's up, dude? >> that is a water soluble film that pattern is printed on to and then an activator is sprayed on to the film which gets rid of the film and leaves the pattern so that the products can be dipped into it. >> it looks like once they dip the product, they kind of move away the rest of the film. they kind of scrape away the rest of the film so it doesn't ruin the paint job. >> exactly. >> can i dip my head into one of these things and then it comes out with the stripe design all over my face? >> i wouldn't do that because you wouldn't have a primer on your head which is what

one is the overall cap, capping the total amount of deductions or capping the tax value of deductions, it has been put forward. the advantage of that is politically you are not actually attacking anyone specific subsidy. you are saying we are putting a cap on the overall system. a second level is what john protest that mentioned, which was we are going to change specific items, but we will change them in the same way. we are changing yours, but you are not special, we're not picking on you, so we will change all the deductions to 18% in credits. the third way, which is perfect from the economic approach, is to deal with each of these on an individual basis. tax expenditures cover an enormous range of activities, whether exclusions or deductions or credits or lower rates, etc. we call them tax expenditures, but it should not hide the underlying heterogeneity. a package that went after, say, the mortgage interest deduction is not economically justified it might simultaneously keep the charitable deduction as an effort to help the non-profit sector. every economist has their own favorite

by selling the higher strike call mike capped this profits.o the difference between of the strike of the call that he bought and the strike of the call that he sold. since the time of the trade shares of ebay have risen by 8% making this trade a winner. now, khouw and carter must make a choice. stay in the trade and hope for more gains or close up and find the next stock to bid on. >> "options action" biggest fan. only wants to know one thing. what will these two do now? >> before we answer that let's see how much money was made had you bought ebay at the time of the trade, you would have made 8%. not bad. it cost 1.40. sold today for $2.35. that is a return of almost 70%. what should they do now? let's go back to the charts. and carter, what do you see? >> i think you have to walk away from this. it has three quarterly gaps and the stock is extended. take the money and run. >> the stock is extended. mike, what do you do? >> there's another issue too. we're closer to the strike we're long rather than when we're short. what ends up happening no

i will also note that the cap does not include student housing, group housing, and affordable housing. and then i also want to note that today i am offering some amendmentses to the planning code administration. before i have those distributed, those amendments, i will describe them. the amendments basically speak to the reporting requirement from the planning department as well as to the common open space requirements. in terms of reporting, the amendments before us today include language that articulates what at a minimum the report on the efficiency units should include. these reporting data points are sales and rental placing, a map showing the geographic distribution of the units, data comparing smaller efficiency unit production with stated unit mixed goals and adopted area plans. and a comparison against the regional housing needs assessment or rema goals. regarding the common open space requirement, the amendment to the legislation will require at a minimum 10 square feet of common open space for each smaller efficiency unit as defined in the legislation. while i'm supportive

the small caps and mid caps have just been since 2008 much weaker companies.merging market debt could become very entering. liz: do you look at that sort of looking for companies going through great times or bad times? >> if you looks at starbucks in 2009, look at it today. and youty to yourself, had i just gotten in there? it's just a good company going through a bad time. >> yes. i tend to look from an asset class perspective, so i look add equities versus fixed income, global versus domestic b, but i've always thought some of the best ways to make money is a company that's mediocre getting good. while they're safe investments, they don't always give you the upside. liz: how do you feel about punies? >> munis? >> people should continue to own those. we have aging demographic. the demand for munis, i think, is going to continue to grow. so i think their a good place to park money. liz: do you take chances on pure play commodities? >> i think everyone should have some exposure, but i tend to look at them much more as an inflation hem. if you -- hedge. it's a g

that ratcheted down the amount of software that could be put it was the essence of cap and trade is over time you reduce the saleability of that product essence of cap yeah right it's the trading component that then is where the banks get to make their money sure and which i would contend is the bit that we don't need. ok so you're just advocating a naked carbon tax no. i would be in this instance getting back to how we used to regulate pollution in this country if you take a look for instance at the clean water act right when it was instituted forty years ago it said you can't pollute so we just say this is right or this is wrong and force it without you want to find it economic without trying to quantify it economically and then say so so you know the king of bhutan came up with his gross happiness index and it's a gross national happiness and kids are familiar with it and there is a bunch of pieces to it you know how many people are educated now people are happy how long marriages are last in how long people are living why not come up with something like that for our country if w

you have to raise taxes on those 250 above and cap deductions and a cap in deductions on everybody loonnally acceptable. we'll have a chance to talk about that chart later but i hear you have some interesting guests on this issue coming up. >> we're talking about that chart and will catch you up later. also the joint economic committee will hold a hearing on the fiscal cliff. can congress come up with a compromise before the looming deadline? senator robert casey and jec vice chairman tom brady joins us from texas. thank you for being here. you have a lot of things happening behind the scenes. senator casey, i know you have said what we're watching is a lot of drama and probably taking our eye off the ball in terms of what's happening. can you tell us if there's progress being made behind the scenes? >> i think there's a little bit too much attention paid to the back and forth every day. there's still a long way to go here and frankly a good bit of time to do it in. i think the day by day coverage sometimes misses what's going to happen. we'll get some kind of agreement i sure hope and

if it works small caps should pick up outside the u.s.. liz: where do you like putting your clients's money right now? >> glad to hear john likes the international small cap. the international markets going to be robust. that type of situation we are going to favor the big cap multinationals with 3% dividend yield with 50% of revenues from overseas. these are aa triple rated type companies, very save common stock investments for people to get real engage with. ashley: let me ask about housing. we got more good numbers, sales of existing homes in a eight month high. is that something that can pull the economy along? i know you say slow growth in this quarter and the first quarter of 2013 but is housing showing signs of getting the momentum that we need? >> sure. throughout the year three areas, housing, auto sales secondly and exports are better than expected, that came through today in the gdp report. here is the third, thinking housing shot up, second half of this year may be cooled off a little bit, we don't think it reverses backward. i

you heard some consensus around capping deductions. there are ways to do that in terms of limiting or capping of certain deductions and credits and exclusions. there is means testing in entitlement programs. for republicans, on the entitlement side, we will monkey with reimbursements to providers and move toward guy you added payments. all of which is good positively -- they do not fear they are going to bump up retirement ages or eligibility ages and have what they perceive to be real structural reforms and entitlements, even in the second 10. then he will have people saying, we are not going to do the tax deal or the revenue deal unless we see what they perceive to be real entitlement reforms. the parties have to ultimately saytono, what can you -- no, one can you live with, what is your red line, and is there overlap to put a deal together? what we are seeing now is each side -- there are a ton of ways to do tax reform. when i was governor i propose to cut the corporate tax rate in half and clear out a bunch of exemptions and inclus

to cap off his election win and get a clean start on his second term. a victory for the president would look like this -- get that top income tax rate up. make minimal concessions on entitlement cuts and get it done before the end of this month, avoid that cliff. this week the president said talk on a partial deal on taxes alone will not cut it with him. >> there have been reports that perhaps the republicans go ahead and let the middle class tax cuts get extended, the upper income tax cuts go up, otherwise we don't get a deal and next year we come back. i have to just tell you, that's -- that is a bad strategy for america. it's a bad strategy for your businesses, and it is not a game that i will play. chris: he wants a pretty good deal, a lot of things in it. when he sits down in that room with he and boehner, it's come down to the two of them, are both looking at the fact that obama won the election and he should get a tilt in his discretion, a 60-40 deal? >> i think boehner is a realist and when he said things like bahama care is the law of the land

if you do it at $50,000, cap.gives you $800 billion. >> i like this idea when i first heard it but there are problems and intended consequences. for instance, you wipe out charities. charitable giving changed radically but that cap at $25,000. that is why i like the idea just you can keep giving to charitable or anything else but lowering the rate -- you can't lower it lower than the 28 cents a dollar that karl talked about. >> bret: all right. the 37%, not 39.6, but raising the top tier to 37% is that going to fly? and is the republican caucus in the house? >> it's hard to get the republican caucus to go for rates. they offered revenue. okay, fine. you won the election. give you $800 billion but find it in a way with less of an impact. >> despite what corker and coburn -- they're senator, not house republicans. >> there is a difference between house and senate on this. you have rand paul saying give the president the tax rate and let him live with consequences. the house republicans will try to find a way to give

it's about 50%, 60% mid cap and small cap.gets right to the sweet spot of the emerging middle class. and the other thing i like about this, there's very little brick. china is like 5%. i don't want a lot of russia and br sil. what i want is taiwan, poland, i want some of these other emerging countries and that's what i get. >> guy? >> think you have some sort of conclusion, this fiscal cliff thing, which will send the s&p higher. that's your opportunity to get long volatility in any way you choose. a lot of people will buy puts on that. i wouldn't be in the call selling mode. i would not be surprised in the early part of 2013, first couple of months to see the vicks north of 125. >> anthony, you're going to europe? >> i think so. major restructuring story as the banks delever. that's our theme. >> and doc j, quickly? >> wmw. i think they start getting big time orders in the early part of this year. >> okay, sima, thank you. first move tomorrow when we come right back. when you have diabetes... your doctor will say get smart ab

you've capped out at the top of where you need to be. you have somebody there that is truly experienced. they truly understand the period i will take a judge who knows the law and is very experienced over many of the judge bachrach used in state and federal. from a panel standpoint, if you go with the panel, a most everybody in the military wants to obtain a certain rank, as some sort of college degree. and they think that in and of itself speaks volumes about the person's ability to at least have an open mind. and so, we normally refer to military panels as blue ribbon panels. they represented many cases individuals at the bachelors is not a masters or doctorate. that may be surprising to some, but again the panels i practice in front of may not always agree with their outcome, but i do believe they take their job seriously. the state cherry i practice in front of is not always the case. they even note jury. so again, for those who look to this and say we sure in some other venue, i can tell you bradley is in the best venue possible. >>

you heard some consensus around capping deductions. there are ways to do that in terms of limiting or capping of certain deductions and credits and exclusions. there is means testing in entitlement programs. for republicans, on the entitlement side, we will monkey with reimbursements to providers and move toward guy you added payments. all of which is good positively -- they do not fear they are going to bump up retirement ages or eligibility ages and have what they perceive to be real structural reforms and entitlements, even in the second 10. then he will have people saying, we are not going to do the tax deal or the revenue deal unless we see what they perceive to be real entitlement reforms. the parties have to ultimately say no, one can you live with, what is your red line, and is there overlap to put a deal together? what we are seeing now is each side -- there are a ton of ways to do tax reform. when i was governor i propose to cut the corporate tax rate in half and clear out a bunch of exemptions and inclusions. i thought i wou

we are going to continue to watch mid-caps and small-caps. the data that has been coming out, and we have data coming out this morning, we are going to watch those more economically sensitive stocks here, domestically speaking. and those have been leading the market. yesterday they were leading the market even in spite of the pull-back that was early in this session. but this morning, we are going to see if that leadership continues, especially if the data comes out positive. > and they're continuing to sell off on gold. what levels are you watching for here? > > we broke through that $1,700 level. i am really actually watching the u.s. dollar. that is going to be a better flag right now. i think gold is still under pressure, but the dollar is really going to dictate at this stage, or at least flag, whether there is continual pressure. if strike starts to pick up in the buck, then we could see some continued resistance at these levels and actually maybe some downside pressure. > and how will you be setting up for the jobs number on friday joe

. >> even small caps have done okay. the republicans talk about small caps and businesses mealing some pain on this deal. that's interesting to me. maybe these guys, people investing in these names, feel like there is a deal that can be reached. does it happen january 1st? i'm not sure that will happen. certainly we're getting close to that point. maybe we can put some stop gaps in, the small cap, the business owners can come together and at least be okay. we have been seeing improvement in the unemployment picture and the durable goods orders that are think haing in there. at least on a global economic point, it looks okay. i'm not as bearish as the governor, even if it's a patchwork deal. if we kick the can down the road, it's not the best solution, but some stocks are well poised to move higher as long as you're protecting and still play the market. >> if we don't get a deal, monday the sectors that will feel the most pain, as we've seen in the five-day losing streak. >> home builders will feel pressure because they'r

also on at the full board was the drilling cap and requirement. this commission considered the ordinance sponsored by supervisor wiener and allow the planning code to define the housing type and cap the units at 375. the ordinance would require the report so the board could later determine if more such units be permitted. it had the interior comment requirement. this commission recommended approval to the board with number of modifications and refinement of the cap and wanted also a rigorous reporting structure. you had a few other amendments not putting it in the planning code and making the interior common space maximum requirement actually a minimum requirement. supervisor wiener amended the legislation and incorporated two of your recommendations so that the ordinance requires 10 square feet of common interior space per unit and processed requirement has been relocated within the code so with these amendments the board passed it on final reading and also at the board this week was the companion ordinance that kicked it off and the building cod

they held the cowboys to 18 points, and a nice feather inic the cap for the "d" to end thet regular season. >> to we definitely executed the game plan, and pulled it out.ut >> we went out there, we haveth been playing like this the last 7 weeks, we knew we had to win 11 in a row to accomplish theac goal, and we are dock it, man -- doing it, man. it's a great feeling. we have to keep it going. >> this is what's coming up onon sunday at 3:30, a pregame show, followed by the fox networknet show, then the game.he they're calling it black monday, many losing their job around the nfl for unmet expectations after 14 years tain philly, andy reids out, disappointing 4 listen 12 season. 7 head coach, five gms, lovielo

. >> brown: but a bill to cap greenhouse gases foundered in the democratic-controlled senate and never made it to the president's desk. jackson also pushed a rule to reduce smog, but it faced bitter opposition from republicans and industry over the cost and potential effect on jobs, and

are you still a big cap guy? i've been a small cap guy. i'll tell you you why. >> when did you switch? >> this is a while ago. the reason why, number one -- it's a growth story. >> do you like the natural gases play ms in small cap? >> the way we've invested, we haven't been looking at producers. we're looking at users of natural gas. i think that's been a little bit better. >> we'll hit that break at 6:50, the one that we keep -- >> let's do it. >> and write a six minute tease for that break. i'm going to have time to read the entire thing and people at the end of that tease, no one will leave before 7:00. >> because we never listen to the producers. >> the only reason people watch us is for those teasers. >> audience of one has been catching us missing. >> no, i think it's audience of two. and one guy beats up the other guy. they beat up each other. coming up, the ceo of cantor fitzgerald. plus if you're looking to beat the holiday shopping crowd, head to toys "r" us. the store opened at 7:00 a.m. yesterday and won't close until christma

the hotel wearing nothing other than a bathing suit and bathing cap, and he came striding out of the hotel r and it was march, by the way, it was chilly. he says, well, what is this? i tried to stop the ambassador to somehow give him this, the briefcase, but i did not know the combination or they didn't give me the combination, but the head of the security of the embassy down there had the combination, so he relieved me of the briefcase, and the ambassador, said, what's going on? the ambassador's going to walk into the mediterranean to prove that it's not toxic. now, there was a second bath in the afternoon which is the one, if you know the story, it's the one that you have seen pictures of, and that's the one with the ambassador, our ambassador and the minister of information and tourism who just died awhile

so you cap the total of deductions.ou don't itemize them and pull one out and leave one on the table. >> if we end up going over the cliff, because of this tax rate issue, is it something that republicans ought to say, you know what, we can't deal with the white house on this but let's go ahead and pass this stopgap which makes the middle class tax rates permanent and then you punt, essentially tom cole's idea there in the house from oklahoma. you punt and negotiate later. >> your time is negotiate is now. it's not time to say we're going to punt. time to negotiate is now. i'm beginning to believe -- i don't know this, i don't have any information to believe it, it appears the president would just as soon we go off the cliff. everybody's taxes go up. sequestration takes place, cut a tree in two in spending and he'll come back and cut taxes for some people and try and claim himself to be the hero. if you do that you're going to have negative gdp for the next quarters of next year and return to recessionary times. >> so n

, mid-cap and small cap moving. >> you like industrials. you think 2013 will be a pretty good year for the market? >> i think it will get off to a better start. i think people are make doing much of the fiscal cliff and you will see us bridging the gap of the cliff. >> do you have a rally you'd hang your hat on? >> not a purebred industrial. standout brand, you touched on earlier, enger sol rand. they could send them over to your house, as construction picks up, ingersoll should be able to take advantage. and one off on that is ford. a great 2013. >> j.b.? >> we're coming into 2013 about twice the waiting in health care than the s&p 500, by far our biggest overweight. we're in the business of secular trends and want to be in something that has staying power. it is a demographic inevitability more and more money will be spent by governments and people and during the hour we're taping the show, another thousand people are turning 65. we like the way the stocks are set up technically, almost all out of breakout resistance levels. on the phrfam

it hato cap to off, they have tn in a fresh demand that would limit any -- would eliminate, rather, any limit on the federal debt. the proposal outline bid treasury secretary geithner last week shows that if given a chance, democrats will never use new taxes to reduce the deficit. they will instead use it to pay for larger government, more public workers, and more government waste. we need to have a serious conversation about our federal debt, which is now over $16.3 trillion and going up every day. how do we get that number under control? the president and his democratic

later in the drivefrank gore 19 yards down to the 1 where anthony dixon would score on the next play to cap off a 14 play, 83 yard drive - gore goes over the 1,000 yard8) give the dolphins credit throught the 4tha great diving one handed catch by anthony fasano for the 3 >> this is a tough game, what the we did great. >> the next two weeks that wind. and also seattle what could be the battle for the nfc west. college hoops, tell hosting u.n.l.v., my incomand mymontgomery- 2:15 left..

going to be the one that emanates from the president's 2013 budget document, which would place a 28% cap on deductions and exclusions, which would include, of course, municipal bonds, taxes and interest.