obviously, you had the carmax announcement today.ins to be seen whether that will be an isolated incident or will be something bigger. >> i think what is interesting about this, to me at least, as a longtime sports and nba journalist, is that you have so many players and team executives from other teams dumbing down instantly and not disputing the notion that this could be true. we are still not sure if it was sterling himself saying these things, but i wonder, from the perspective of the league office, because of the long-term deals, if they know this is happening, if this is the way that sterling conducts himself, if it was his statement? but i also wonder about what the league has known about him. he has been a thorn in the side of the league for a long time. >> there have been issues going back to when he moved the team from san diego to los angeles in the early 1980's. i think, really, this is one of those perfect storms where we see a combination of celebrity, some tawdry mess, some race issues, billionaires, you have a lot of

we just got word from carmax in regards to its sponsorship with the l.a. clippers.l us quote, due to the clippers owners unacceptable statements, talking about donald sterling, carmax ended its sponsorship of the clippers. we welcome opportunities to discuss future sponsorship if this matter is fully resolved. they don't exactly say if his shedding of the team ownership, is quote, fully resolving the issue but at the moment a lot of these companies are coming out saying what stands is the status quo. we're out of the l.a. clippers that includes state farm. that includes mgm mandalay bay which told us exclusively in the last hour they we remain suspended with their sponsorship at the moment. and of course carmax. >>> let's get to 3-d systems a leader in the printing industry. had positive forecast for the first part of the year and strong growth? what is the problem? why did the stock trade down 9%? the company has been feeling some heat. 3-d systems has big plans for the future nonetheless. joining us in a "first on fox business" interview, 3-d system as ceo and pre

liz: chris, you like cernerrer, you like kvh and carmax. carmax is an interesting one. the auto industry has certainly come back but what is the heart of your picking here? >> carmax they were impacted by weather here recently. they had a difficult quarter. we think it's a well-managed company. they're reaching out to a whole variety of customers with their subprime lending. and we think that they will siebert times in the second half. you know, kvhi we think is a great maritime play on broadband distribution. it is a small cap company. noise under the radar screen but is a great secular growth story. flies under the radar. medical record-keeping which cerner is a preeminent leader in, will continue to help that modernization. david: bernie, i read in your notes, 45% of your equity holdings are overseas. i thought that was a mistype. if that's right, why? >> well, we're a globally-diversified investment company. we build balanced portfolio and look for assets across the world. so 45%, if you look at market cap of all the world's assets isn't, clearly out of bounds. but

carmax calling sterling's alleged statements unacceptable.sterling's estranged wife shelly went after his girlfriend in a lawsuit she claimed that he used community property or their money to buy the mistress some cars and a house. she is 31, sterling is 80. his wife claims she a gold digger who snagged her husband during a super bowl party four years ago and she wants the items back. she said no. mysteriously an audiotape shows up on the internet with a man alleging to be sterling. >> you can sleep with him, you can bring them in. you can do whatever you want. the little i ask you is not to promote it and not to bring him to my names. i support them. i've given them food and clothes and cars and houses. who gives it to them? does someone give it to them? do i know that i have -- who makes the game? the game? >> the mistress is mixed race, black and hispanic. the clippers don't say this tape is a fake but say it does not reflect donald sterling's views. >> okay. the nba now doing this big investigation, going to release the findings tomorrow.

carmax, state farm, two of the big companies to drop their sponsorship of the l.a. clippers in response to the donald sterling alleged racist comments. back to you. >> anybody who watches television has seen those state farm commercials with chris paul, the star point guard of the clippers so the fallout continues on that front. >>> four trades on four stocks making news today. first up is charter communications after striking a deal with comcast, our parent company, to grab 4.1 million companies. >> and there will be another public traded company for 2.5 million and divest $2.9 million to get the deal done. i think that's what the street was expecting, obviously positive news if you're playing cable consolidation. >>> and labs taking on another company. >> you look at the labs, carl wrote off on this and said this is going to work and big pop for boast stocks, forest labs and furief pharma. >>> and ge and siemens, that company's energy stock. >> i don't know how this will work out. i hope ge gets this. a 13 to $15 billion bid. there's a great overlap between wind p

carmax, saying that sterling's alleged statements are quote, unacceptable.tate farm saying, someone has to force the sale of this team. now this all comes after sterling's estranged wife shelly, after his girlfriend in a lawsuit. shelly claimed that donald used community property or their money, to buy her a ferrari, two bentleys a range rover and a house. she is 31. sterile something 80. his wife calls her a gold digger and who nag snagged her husband during a super bowl party and wants the items back. she says no and mysteriously auto jpmorgan ends up on internet allegedly telling vivano including hall-of-famer magic johnson to clipper games. >> you can sleep with them. bring them in, do whatever you want. the little i ask you is not to promote it on and not to bring them to my games. i support them and give them food. and clothes. and cars. and houses. who gives it to them? does someone else give it to them? do i know -- who makes the game? do i make the game or do they make the game? >> she is mixed race. she is black an hispanic. the clippers released a

other companies like carmax, state farm, kia, virgin america have also pulled funding in the last 48t-on-tape drama. tomorrow the nba commissioner, and this was announced in the last hour and a half, adam silver, will make an announcement about the investigation of clippers' owner donald sterling at 2 p.m. eastern here in new york city. he, of course, is under fire for purportedly using racist language in a conversation with his girlfriend. that conversation was leaked to the media site tmz. everyone from former nba players to the president of the united states have voiced their disappointment with sterling. the question becomes how much worse will this get? or better maybe if joining me now, path risch, webster university professor and jesse lawrence, the hot ticket web site. i need to get to dr. risch first. the news flow has been unbelievable. stocks sports one is all -- fox sports one is all over this story. tell us at the moment what you think eventually happens. game this. >> i think eventually what will happen is tomorrow we're going to hear an announcement that he is going to

they have carmax, these are the sponsors who have now deserted because of all this.rgin america, kia and recently red bull. how long can this bleeding continue? because this guy has bills to pay. >> depend how much money he is willing to lose. the nba will weigh in for this situation. already the market forces are taking over. and i think that's the way this is going to be handled because there is only so much that the commissioner can do in this situation. maybe they fine him a million dollars. maybe they ban him from the games. they can't take the team away from him. what is going to have to happen, there is going to be need to be boy scots or sponsorship. when the money starts to be a lot of, that is when the situation will handle itself -- lost. >> they have already lost, our guest at 3:00 p.m., and patrick risch teaches sports economics, tens of million of dollars from the sponsorships. that is big chunk of change. could he eventually lose the team. >> he is a very wealthy man. $10 million is a lot of money. in context of net worth over 2 billion, once again dep

and used car chain carmax became one of several companies to drop its sponsorship of the clippers. >> woodruff: so what are the next steps for the n.b.a. and donald sterling? for that and more i'm joined michael mccann. he is director of the university of new hampshire's "sports and entertainment law institute," and legal analyst for "sports illustrated" magazine. and kenneth shropshire is director of the wharton sports business institute at the university of pennsylvania. shropshire we welcome you both to the newshour. both of you have followed the business of sports for a longtime. how do you, what is your reaction to what donald steriling is alleged sterling is alleged to have said. michael mccann, you first? >> at a starting point, it's outrageous that someone would hold these views in 2014, really anytime but particularly these days, it's a matter the nba has to address seriously. i would not note it's not an easy process to reconcile. i say that because the nba has to approach this under the rules of the league in ensuring that it doesn't take any steps that prove to be record.

. >>> there is also major fallout with sponsors of the team carmax who has been with the team nine years now. he is cutting ties with the clippers. so is mer say daze benz. so is virgin america. there are several other suspending sponsorships including red bull, state farm. the can just in case the clippers are poupt for sale, magic johnson says he might be game to purchase the team. thel time says with financial backing johnson would consider buying the la clippers. the nba franchise officially not for sale at least not yet. we will hear what the nba has to say about the controversy tomorrow. what, if any, suspensions or penalties they will put on the owner. they err going to hold a news the conference on the investigation. they request that sterling not attend any nba games for the rest of the playoffs. >> we will see. >> thanks, ken. the clippers do play the golden state warriors tomorrow night in la. there has been wave of support on twitter where everybody might show up wearing black. >>> a man is dead after being shot and killed in front of a home last night. 32-year-old francisco

with ten sponsors including carmax and virgin america today dropping their sponsorship of the clippers. it seems sterling, who bought the clippers in 1981 for $12 million -- >> over the long-term will be enormously valuable. >> reporter: -- has been sued by the justice department for racial discrimination over his alleged refusal to rent apartments to minorities. the case was settled for $2.7 million, the biggest ever obtained by the justice department in a housing discrimination case. in court documents a former employee is quoted as saying, "when we went into the building, he, sterling, said that blacks smelled and blacks stunk and he wanted them out of his buildings." sterling was also sued by clippers former general manager and nba legend elgin baylor, who accused sterling of building a franchise with a "vision of a southern plantation type structure" and having a "pervasive and ongoing racist attitude." the jury ruled in sterling's favor. >> elgin baylor a couple years ago filed suit against him. does this now lend credence to what elgin baylor said a few years ago? >> yeah. i thi

more than a dozen corporate sponsors including carmax, state farm, virgin america and kia motors america have cut ties with the team. >> we stand together in condemning mr. sterling's views. they simply have no place in the nba. >> reporter: for sport a predominantly black athletes it's a welcomed one. is this morning the chair of the naacp requested a meeting with silver and magic johnson will never go to another clippers' game as long as sterling is the owner. >> i'm disappointed. i'm hurt. i'm -- i'm outraged. i'm everything. >> reporter: sterling has kept a low profile since the recordings were released over the weekend. now basketball fans want to know what donald sterling's next play will be. >> the hateful opinions voiced by that man are those of mr. sterling. >> reporter: now silver said he just made his decision this morning in spite of the controversy the clippers are back on the court tonight when they take on golden state in game five of the playoff series. it will be the clippers' first home game since the audio recordings were made public. live in the newsroom, mark kelly,

and virgin america, state farm, and kia motors and carmax are all severing ties no you with that team. -- now with that team. >>> new at noon, one more football game at candlestick park. >> a few minutes ago, the 49ers great joe montana and roger craig announced plans for a legends of candlestick flag football game. it will be played at the stick this summer. and bill cool will lead a team of 49 heroes along with the miami dolphins former quarterback dan marino. and montana talked about returning to the field. >> like rod said, there are so many great things that happened in there, so many great playoff win, and just watching guys break records like rog, and jr, and plays that stick in your mind. >> other retired players taking part include jerry rice, dwight carr and john taylor and brent jones. the game happens saturday, july 12 and ticks go on sale to the general public may 10. >> flag football. not tackle by the way. >>> paul simon is facing charges. police in connecticut say the 72-year-old simon and his wife edie brickell were arrested in new canaan connecticut and they were rep

carmax called the statements completely unacceptable. kia motors say they are offensive and reprehensible. >> i think it has the potential to hurt the nba's image. i hope they react quickly and indecisively in dealing with this. >> reporter: president obama weighed in from asia. >> when ignoreant folks want to advertise ignorance, you don't do anything but let them talk. >> reporter: clippers' players made a silent statement, revealing shirts inside out hiding the team logo. >> from that point on,how could your mind be on the game? >> reporter: in a statement, the clipper's president said it's not clear if the recordings are legitimate or authored. sterling was about to receive a life-time achievement award from la's naacp for his charitable contributions. that won't happen now. >> there is a personal economic and social price that mr. sterling must pay. >> reporter: tomorrow the clippers will host the golden state warriors. they play-off series tied at two games a piece. some clipper's fans are calling for a boycott of that game. brian?

while clippers players turned their jerseys inside out in protest, sponsors, kia motors, carmax and state farm insurance bailed. kevin johnson spoke on behalf of nba players. "i hope every bigot who sees this realizes that if mr. sterling can fall, so can you." "he's got to get out. sell for market rate. it's over now." sterling bought the clippers for 12-million dollars in 1981. the franchise is estimated to be worth at least a half billion. there's a lot of a-listers on the short list. media mogel david geffen says he's interested in buying the team. matt damon says he'd jump in. and conflicting reports that magic johnson is interested. commissioner silver said he hopes sponsors see the n-b-a's response and will return. the head of the sec tells congress-- u.s. financial markets-- are not rigged. mary jo white-- chairwoman of the securities and exchange commission -- says the markets are not perfect-- but are the strongest and most reliable in the world. and, there is no evidence yet high-speed traders have done anything illegal. white was responding to the book "flash boys" written by

carmax is the first to pull the plug. kia, red bull, sprint and mercedes suspended their partnerships. state farm said it was taking a pause and monitoring the situation. we want to know what you think. text or call the number on your screen. we'll have the results coming up tonight at 6:00. >>> how transparent is your local police department? some say internal police investigations are secret and many citizen complaints disappear. tonight we investigate why this might be happening. steven stock exposes what is happening behind closed doors. >> it's all because of a state law. something called pobar, peace officers bill of rights. our investigative unit spent nine months piecing together numbers of complaints by citizens against large police departments throughout the bay area. we wanted to see exactly what was happening behind the badge. we discovered that because of pobar there is little transparency when it comes to citizens' complaints against sworn police officers. because of that law, many complaints simply disappea

companies are ending or suspending their sponsorships with the team, carmax called the statements attributed to the clippers owner completely unacceptable. kia motors said they're offensive and reprehensible. >> i think it has the potential to hurt the nba's image. i hope they act quickly and decisively in dealing with this. >> reporter: president obama also weighed in from asia. >> when ignorant folks want to advertise their ignorance, you don't really have to do anything, you just let them talk. >> reporter: before their playoff loss sunday, clippers players made a silent statement throwing their warmups on center court, revealing shirts that were inside out, hiding their team logo. >> from that point on, how could your mind really be on this game? >> reporter: in a statement, the clippers president says it is not clear if the recordings are legitimate or have been altered, adding the remarks are the antithesis of who sterling is. sterling was about to receive a lifetime achievement award from l.a.'s naacp chapter for his charitable contributions. that won't happen now. >> there is a perso

. >> reporter: so far, more than a dozen sponsors have cut ties with the clippers including carmax, corona and mercedes benz, and scott, the n.b.a. has now hired an audio forensics expert to listen to the voice on that recording and try to determine that if it is, in fact, that of donald sterling. >> reporter: and we'll hear from the n.b.a. tomorrow. thanks again. in another developing story tonight, the u.s. imposed new sanctions to punish russia for stirring up trouble in ukraine. seven russian government officials were banned from traveling to the u.s. and their u.s. assets were frozen. 17 russian companies have also had their assets frozen. in ukraine, the mayor of the second largest city there was shot today in an assassination attempt. it's not clear who's responsible for that. by our count, pro-russian militants have taken government buildings in at least a dozen towns in eastern ukraine. a team of observers sponsored by the u.n. is being held hostage in one of them, and holly williams spoke to the self- proclaimed mayor who's holding those observers. >> reporter: in slovyansk, pro-

carmax who has been with the team nine years is cutting ties. there are several more suspending sponsorships including red b and state form. >>> tornado warners have been destroyed this afternoon a day after more than two dozen twisters touched down. cbs h's alexis christopher. >> two towns were hardest hit. a twister packing winds estimated over 30 miles an hour. caused an 80-mile pack of destruction from the suburbs of little rock. a three-year-old girl was found 100 feet from her home. her hips, badly injured. >> reporter: this rj park took what direct hit. there were 65 campers parked here. now, it's just acres of twisted wood. an the. >> voluntaries parade and held hands while confers checked to see if all who worked there were accounted for. >> moving to the right. >> inlo wase -- cbs news may flower arkansas. >> president obama send escorted his condo senses promising the government will help them rebuild how long it wakes. >> new video is shedding new light on the that stinks video. hundreds of passengers including children were still on

alleged rant to stiviani convinced virgin america and carmax to cancel their sponsorships. state farm, mercedes, kia and red bull put theirs on hold. today the clipper's cancelled their practice ahead of tomorrow night's playoff game against the warriors. >>i can't tell you how upset i am, our players are >> reporter:tmz says sterling called stiviano on sunday to ask quote "how can we make this go away?" instead, more of the taped convewrsation leaked out. >>audio >>you think that i am a racist >>no i do not. >>this is the picture that touched off the rant: stiviano with former nba star magic johnson, today johnson said he might be interested in buying the clippers. the team's official position: it;s not for sale. >> reporter: the nba has condemned statements and plan to make an announcement regards the investigation. he could be fined or cut tried to force him to sell the team or give up majority ownership >> catherine: who is donald sterling? suddenly - a lot of people want to know more about the 81-year-old billionaire. for starters - this is not the first time he's been

>> reporter:sterling's alleged rant to stiviani convinced virgin america and carmax to cancel their sponsorships. state farm, mercedes, kia and red bull put theirs on hold. >>today the clipper's cancelled their practice ahead of tomorrow night's playoff game against the warriors. >>i can't tell you how upset i am, our players are tmz says sterling called stiviano on sunday to ask quote "how can we make this go away?" >> reporter:instead, more of the taped convewrsation leaked out. >> reporter:this is the picture that touched off the rant: stiviano with former nba star magic johnson, today johnson.who already owns part of the dodgers. said he might be interested in buying the clippers. the team's official position: it's not for sale. >> pam: donald sterling has not publicly spoken since these tapes surfaced. while he has remained quiet, others are speaking out. there is now talk of a boycott and protest tomorrow in los angeles. kron 4's j.r. stone is following that part of the story and continues our team >> as an african american man and a fan of the game of basketball thathistory, that knows fr

companies, including virgin mobile and carmax, ended their sponsorship of the team after a ledger tracesomments attributed to sterling. back over to you. >> thank you very much, carol massar. and another delay in the keystone xl pipeline, and we have t. boone pickens. erik schatzker and stephanie ruhle are standing by at the milken global conference in los angeles. stephanie? erik? >> as you just said, we are here with one of the legendary oilman, t. boone pickens. he has been in this business since -- >> 1951. >> amazing stuff. >> why are you laughing? >> i am impressed, that is all. >> that i am still alive? [laughter] >> i went to begin with activism. it is a hot topic. and here is how i would like to phrase the question to you. you are involved in this back in the 1980's. the business was so reviled to transform itself into a force for good. how? >> you are talking about the industry? activism. >> right. i thought you were talking about the oil industry. i was there before they had cars. >> [laughs] >> because you guys in the media figured it out, that what was happening was a huge i

companies, including virgin america and carmax, ended their sponsorship of the team after a after a -- after alleged racist comments attributed to sterling. >> thank you very much, carol massar. and another delay in the keystone xl pipeline, and we have t. boone pickens. erik schatzker and stephanie ruhle are standing by at the milken global conference in los angeles. >> thank you. as you just said, we are here with one of the legendary oilman, t. boone pickens. he has been in this business since -- >> 1951. >> amazing. >> why are you laughing? >> i am impressed, that is all. >> that i am still alive? [laughter] >> i went to begin with activism. it is a hot topic. you are involved in this back in the 1980's. the business was so reviled to transform itself into a force for good. how? how did it transform itself into a force for good? >> oil? >> activism. >> right. i thought you were talking about the oil industry. i was there before they had cars. because you guys in the media figured it out, that what was happening was a huge investment was made. i bought stock in a company. i want to

carmax and vision america have cut ties with team.arm insurance have put their relationship on hold. filmmaker spike lee has a relationship with the new york knicks not the clippers. he joins us as far more than just a fan of the game. first of all, when you first heard these remarks, what went through your mind? >> i said why did it take so long? let me tell you a story. i never said this before. my right hand to god on my mother's grave. in los angeles 2011, the all-star game. me and my friend were at a restaurant and donald sterling called us over to his table, his wife rochelle was there. he started to say why are they going to go on strike, we should pay all the players $500,000. if they didn't play basketball they wouldn't have a job. i swear to god he said that. baron davis who played, he's my second cousin and has told me a whole lot of stuff about sterling. then you look at elgin baylor, the highest settlement in history. >> he was sudden for racial discrimination in house. he settled the largest fine ever in the history of h

and stately, carmax farm withdrew their sponsorship from the nba clippers. what would you tell other people who might be on the fence or people have -- you have to invest in the nba? >> they should judge us by our response to this incident. i think we responded appropriately and i would be hopeful that they would return and do their business relationships with the clippers. >> jason carroll. i'm wondering if you have spoken to mr. sterling about this ban. what has mr. sterling's reaction to the punishment? >> i did not speak to his representatives about this band. they were informed shortly before this press conference. i did not hear what the reaction was. has there been any decisions about whether the immediate members of his family including rochelle will be allowed to remain in an ownership or managerial position? >> no, there have been decisions about other members of the sterling family. applies on this conduct early. >> as you mentioned, over a dozen sponsors have dropped the clippers. what has been the financial ?mpact >> this is all happened in just

carmax called the comments completely unacceptable. kia called them completely r reprehensib reprehensible. state farm called them offensive and virgin america said it's ending its sponsorship. this comes after tmz sports posted a recording of sterling talking to his then alleged girlfriend. according to tmz, sterling was upset about this photo with magic johnson that she posted on her instagram account. . >> why are you taking pictures with minorities, why? >> people call you and say that i have black people on my instagram and it bothers you. >> yeah, it bothers me a lot that you want to broadcast that you're associating with black people. why publicize it on the instra game and why bring it to my team? how about your whole life, every day, you could do whatever you want. you could sleep with them, you could bring them in, do whatever you want. the little i ask you is to not promote it and not to bring them to my games. >> calls to take action are coming from some of the biggest names in the game. michael jordan, perhaps the greatest

i salute the carmax has pulled out now.state farm, which is a major advertiser who is going on pause. virgin america. steve stout, a very young, brilliant, and committed to his committee marketer has gotten a lot of his clients to understand you cannot subsidyize bigots, and we're at that stage, and then we intend to be at the game tomorrow night outside with a demonstration. right now it's in the stage of saying who will subsidyize this team with advertising dollars if he doesn't step aside? i'm glad the list is growing as we are going through the day, and we are working the phones on that as well as others are. >> i mean, rev, they are also subsidyized by the other teams. the clippers up until recently were a team that did not have a winning record. they were subsidyized through revenue sharing. is it incumbent on other teams within the nba, the more valuable teams, in terms of finance. the clippers are worth $575 million with $128 million in revenue. ticket price average $63. there are teams that are much more highly val

suspend its sponsorship of the clippers, joining a number of very well-known brands, mercedes, r carmax. so we'll hear what the xhitioner has to say. we're told it will be a short statements and he'll take q&a. you can bet they'll hammer him on if it was the toughest or most severe punishment that the nba could have. keep in mind this is unprecedented that the nba would suspend one of the owners of the team. certainly there have been fines before, but this is a whole different ball game. as you said, it all comes down to the bylaws and constitution, which aren't made public and mistier yaw. it's going on upstairs behind me at the hilton. i'll bring you some of the answers when we hear from the commissioner. as you can hear, a lot of outrage and a lot of parties involved. it will be interesting to see the reaction. >> interesting you use that word "outrage" that was a word that came up in a piece by kareem abdul-jabbar who used to work for donald sterling, and dom, what he was saying is that what bothers him about the whole donald sterling up there, if indeed these are his remarks, is th

carmax said they were proud clipper sponsors for nine years, but that the comments made will cause themonsorship as well. now, also reached out to a few companies that haven't gotten back to us yet. mercedes-benz is a corporate sponsor, is so red ball. and dodge ram tolds while they're not a national sponsor, they may have local sponsorship there in california. they're looking into that. >> thank you very much. the man who shot and killed two teenagers after they breck into his home will not stand trial -- will not take the stand in his trial is what i meant to say. the defense rested today. prosecutors call it murder. now the jury could decide his fate as soon as this week. we'll have a live update on the trial, and the weather it guessing worse now. new reports out of western and central mississippi. we'll have breaking news update in the middle of this commercial break come canning right up. those litt things still get you. cialis tadalafil for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet helpsapproved to treattime the msymptoms of

carmax was the first to pull the plug today, kia, red bull, sprint and mercedes also suspending their partnerships with this nba franchise. state farm said that it's monitoring the situation. >> as you heard kris say, while sterling can't be forced to retien, it -- it's happened here in the bay area with the 49ers. we take a look at the history of misconduct and the punishment of league owners. jarrod. >> if you're wondering what the repercussions are for his alleged comments, there is a small precedent. major league baseball dealt with this in 1993. the cincinnati reds owner marge shot was find $25,000 and suspended for one year for making a string of racist comments. she have suspended for life in 1996 after announcing her support for adolf hitler and she eventually sold the team in 1999. another owner who lost his team, former 49ers owner, eddie debartolo. not for racist comments, of course, but as part of a settlement following his felony conviction for failing to report extortion. in 20 o 0, debartolo handed over control of the 49ers to his sister, marie denise debartolo york. wh

carmax saying this necessitates the company end its sponsorship. state farm, saying we'll be taking a pause in our relationship with the organization. virgin america and keyy motors suspending their relationship. to former coach, the only way to cut off this guy's powers is to cut off the money. and that's the realistic way this is going to happen. >> that's right. look, money can buy a lot of things. can't buy sanity and can't get rid of what is in a man0s heart and this guy has torched him with the nba -- >> of the evidence himself before. me he went too far here and it was caught on tape but he has a history of it. what makes thing so is different. >> there's no undoing this. there's no way to make yourself or redo your brand. he needs to come out -- first of all i don't think he'll own the team in three weeks, much less three months. i think he'll be forced out. people buy teams for two reasons, money and admiration, and thed a mr.ation will -- admiration will be sucked another of his universe. the 20-year-old will blow on him. she's a piece of

the mass exodus includes carmax, state farm insurance, red bull and others. will make an announcement on tomorrow about its investigation into the alleged recording. and those are some of the hot stories right now on foxbusiness.com. >>> still to come, my two cents more and why a couple's big day is leaving their guests cash-strapped. are you spending too much money on other people's weddings? we're going to help you. stay with us. ♪ peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. gerri: weddings are supposed to be hapt not if you're attending, they're expensive. why you may be shelling out more money at the next wedding you attend. stay with us. humans. even when we cross our "ts" and dot our

sponsors carmax, kia, virgin america, says they're stepping back or stepping out. michael jordan says as a former player i'm completely outraged. no room in the nba or anywhere for the kind of racism and hatred that mr. sterling expressed. i'm appalled this still exists in our country and at the highest levels of our sport. we're also hearing this morning that the naacp is wanting to meet with sterling. they say they have issues about what he possibly and allegedly said and they want to sit down and have a conversation with him about it. that is breaking this morning. back to you. >> thank you very much, peggy. >>> a lot of people are speaking out against sterling. they're also making an effort to show their support for the clippers. last night the miami heat staged a silent protest in a show of solidarity with l.a. players tossed their warm-up gear on the court and wore their t-shirts inside out. the clippers staged a similar protest before game four at oracle arena on sunday. >>> stay with nbc bay area for continuing coverage of this story all morning long and an

kia, and carmax, and state farm, and so many virgin america joining in. joining me is john lucas, executive drirector of john lucs enterprise, and jeff, i want to start with, you because we are waiting for the announcement from the nba, and we don't know a lot about the clauses of them available to them, and what have you found out? >> well, the nba byli-constitutn are private to the owners only, but talking to people, and adam silver says he has a broad range of powers and what we are learning about that is anything from the indefinite suspension to a suspension with the time limit on it, and then finally some kind of financial penalty that will, you know, in the big picture help him to make a decision, donald sterling, on whether he wants to own the team moving forward. >> and we know in the past, that $2.7 million is the fine that he paid in the housing discrimination where he said that he didn't want blacks and hispanics and people with children renting, and he said that blacks were dirty according to the deposition which is alleged, and so we know th

are tornado watches and warnings in mississippi, alabama, tennessee, louisiana and sponsors, the carmax, state farm and red bull are abandoning los angeles clippers. they're reacting of racist comments allegedly by team owner donaldstering. those are the headlines. i am jonathan seigenthaler. "america tonight" with joey chen is next. ♪ >>> on "america tonight" -- >> oh, my god! there' there's a tornado! [ screaming ] >> millions in the path of what could be days of killer weather. what is behind this massive destruction? also tonight is it good news or just money? the often down side of a high-plains boom town.

team sponsors are already taking action. 12 sponsors already dropping or suspending their support, carmax, and red bull. but will the public pressure affect sterling? again, let me emphasize what i told you a moment ago, the man's worth $1.5 billion. he's 80 years old. he was scheduled to sing at the clippers game tomorrow night but pulled out due to sterling's comments. you pulled out, just like that list of sponsors, but in pulling out, you're giving up, especially given what's happening, perhaps one of the largest audiences ever because you want to take a stand. are you frustrated at all that the players haven't taken more of a stand or the fans or others? >> i mean, i don't want to say frustrated when it comes to the players, just because you just don't know what their mindset is, and, honestly, how they feel like they are going about it. they've made decisions within themselves as a collective, you know what i mean, they are their own fraternity and they have each other's back, so i support the players in whatever they decide to do, but for me, first and foremost, i can't support thi

carmax, virgin america, chumash, mercedes-benz. state state farm, red bull. a quote was released saying, we are deeply troubled by these disturbing remarks which go against everything we believe in as a organization. we support the players, the coaches, the rest of the team and the fans and we are committed to providing a safe, secure and welcoming environment for everyone. let's say there is a suspension. does that mean that sterling cannot go to the basketball games in your mind? >> yes, day-to-day operations would include him not going to the games. marge schock was allowed to come to the games if she purchased her own ticket. i doubt donald sterling does something like that. i think he will be out of the spotlight. i think it's best from his standpoint to stay out of the spotlight and let the league do its job. >> let's go back to a point you brought up a few moments ago, which was in regard to the other team owners. because the big question that's been asked since friday night when the tapes were released is this -- does the league or do the owners have

. >> number eight is carmax, the auto dealer correcting its accounting service and that caused the stock to fall the most in three months. the company reporting a's 7% rise and april percent increase for the fiscal year. , the suppliern building materials is said to be in advance merger talks in hopes of creating the biggest cement company in the world. the deal would allow the cement producer to cut cost by combining reduction and combined sales of as much as $40 billion. >> number six is apple. buyingk has extended his spree. no amount was disclosed. >> cbs down 1%. david letterman announcing yesterday he will be retiring in 2015. he will depart after 22 years on the job at cbs, leaving everyone wondering who will be his successor. the second of the news broke, i was talking to [indiscernible] the top comedians now are all female. we are going to talk about this next. amy poehler, josie hendler. tina fey. >> feeling the heat as other competitors slashed prices for customers. number three, wal-mart little changed. has chosen mastercard to handle the transactions for its branded credit c

kia, virgin america, sprint, carmax, and state farm, and so many others.omments allegedly made by clippers owner, donald sterling, are not consistent with our views and sponsors, and so we are suspending our ties with the clippers. i want to bring in howard bragman and michael eric dyson, and he is from georgetown university and author of "saving ra race." today, former nba condemning donald sterile, and outside of the announcement from the team itself, a statement, we have not heard from him, and what would you tell him to do if he walked into your office, howard? >> well, the spin doctors have two purposes, one is to stop the disease and the other is to save the patient, but i would tell him that it is terminal, and back out gracelyfully, and separate as quickly as possible with as much dignity as possible, but it is over. >> well, part of what we are waiting for today, michael is to the hear what the new nba commissioner is going to do, and there have been some analysts who have suggested that the quickness, the speed with which these sponsors announced

. >> commissioner silver, brandon robinson, source magazine the obviously carmax and state farm withdrew their sponsorship with the l.a. clippers of the as you the commissioner of nba what would you tell people on the fence or people have withdrawn to want to invest in your franchises of the l.a. clippers? >> i would say those marketing partners of the clippers and partners of the entire nba should judge us by our response to this incident. i think we've responded appropriately. and i would be hopeful they would return into their business relationships with the clippers. >> on the left on the front, against the wall over there left. >> thank you, jason carroll with cnn i'm wondering if you have spoken to mr. sterling about this ban or any of his representatives? if so, what has mr. sterling's reaction been to the punishment? >> i did not speak directly to his representatives about this ban. they were informed shortly before this press conference. i did not hear precisely what their reaction was. the reaction was? >> robert silverman from the daily beast. have there been any decisions abo

apparently, there are a lot of sponsors that have jumped ship, mercedes-benz, carmax, virgin america. they've ended their relation. suspending their relationship, another list kia, red bull, lumber liquidators and state farm saying that they're taking pause in this relationship between them. we will have to wait and see what the end result of this is. >>> coming up, it's a staple of the american diet, kids and adults. >> the grilled cheese. up next we visit a new york city restaurant that is putting its upscale twist on this iconic sandwich. >>> an archaeological dig for what is called the worst video game ever made. you are watching "world news now." >> announcer: "world news now" continues after this from our abc stations. i thought, "the red cross does katrina. they don't help single moms. hi. hi. what happened to our house last year? it flooded. and the water flooded out. yeah. the red cross arranged the hotel for us. they gave me that break, that leverage, to be able to get it together and... take care of them, you know? i feel like we've come full circle. like that! this is how

carmax did resolve ongoing accounting issues during the quarter.look at shares of -- please take a look, i should say. they're on the rise this morning as well. the maker of the invisalign orthodontic system, clear correct violated five of its patents. i should admit something here. >> is it like braces? >> i had a retainer. i had braces as a kid. then i had a retainer which of course you only use for like six months after because they tell you to wear it but you don't. as an adult, i decided i would have invisalign. >> we have a retainer issue. if you pay all that money for braces and it goes back, it's important to be diligent. >> you have to wear the retai r retainer. >> miylan labs, the financial times reporting that they may buy meta, a combination that would create a $23 billion company, not for nothing. mylan did confirm it has had contact with meda but wouldn't reelaborate. two pieces of news on that company. that stock up about 10% in the premarket. >> on this jobs friday we continue our series where the jobs are looking at how manufacture

we heard virgin america pulled their sponsorship, we have heard carmax, and the names just keep floatingate farm all sayingred bull, enough, we don't want to be associated with the clippers as a result of sterling. what is going to happen to the team? >> the team is going to stay in los angeles and it will be the clippers, but not the old clippers who didn't win anything and nobody paid attention to, which is part of the story. but the new clippers who are in the playoffs. now there's talk of magic johnson buying the team. >> by the way, i have a feeling the team is getting cheaper and cheaper by the minute as all the sponsors pullout. to know johnson seems what deals to get and who is who. really what you are seeing is a typical pattern that we see in the internet and social media era. >> you really do have to be careful. it shows how business can really influence some social change. it is clear that businesses don't want to be associated with anything like this. president of business operations there for the memphis grizzlies. how do you see this playing out? >> trish, this is now a gl

. >> number three, carmax, reporting their biggest annual jump in same-store sales in more than decadeld more than 500,000 vehicles in a single year for the first time ever. technologywo, micron , the largest u.s. maker of microchips, beat analyst estimates as limited supply that amid lackluster computer and phone demand. one, grubhub, the serviceood delivery starts trading today on the new york stock exchange. grubhub raise $192 million in an ipo last night. it was above the expected range. we will see how it trades today. in fact, they are ringing the opening bell, and look, pizza slices. wow, ok. [laughter] now you know what you might be having for lunch. as markets open, i am joined by my guest host and fund manager at gamco. do you care about ipos? >> we do because it is part of the process in allocating capital. it is so the minimus that we do not participate in them, but notwithstanding that, what is important, if a public is -- company is going public in an area, what does that mean for comps. >> what about grubhub, which basically gets commission for online, and the valuation

carmax, virgin america, mercedes-benz have terminated their support of the team. state farm, red bull, samsung and others. these are companies that suspended their support of the team. going forward, coaches and players will not resign, they can terminate their contracts citing a hostile work environment. >> our hope and purpose is to hit him where it hurts, the money. it seems like the many about the money. we are trying to prove a point it's going to be very peaceful. we want to let him know and others around the world that we are not tolerating this. >> reporter: he's talking about the protest planned for the game at 5:00 tonight. the sponsorships mean the loss of tens of millions of dollars. if they starve the franchise of money and the franchise sales sterling won't want to sell the team because he can't make any money. martha: what is the league expected to say? >> reporter: does sterling admit that voice is his? secondly, did sterling offer a defense? here are the options from the nba commissioner adam silver. there is something called the nuclear option. b