i like chevron and texaco. he the >> to bp but you look at what they're facing penalties it's probably about a year of profits for them is this going to be devastating will we see the end of bp as we know it? >> same thing happened at some years ago it will not to a serious on the rest but they will survive but there's a lot headline risk. for the long term patient investor these are companies that work over 30 years. all the time not from the time all the time. >> thank you rob will be back with you a little bit answering your questions for robb as the kron 4 news @ 4 continues. what this droid does will change how you do movies. with blockbuster on demand, this does hit films on a 4.3-inch screen so big, the way you see them will never be the same. introducing the new droid x. pre-loaded with blockbuster. the next generation of does. live pictures of what's being called the crown fire the not only are dozens of homes being threatened at this hour. keep how lines are threatened by the flames as well pure for p

san ramon based chevron out with its earnings and its profit tripled.5 .4 billion profit, thanks to higher fuel price and refining margins. chevron down three-quarters of a percent now a bit of a drag on the dow. disney is really focusing on family-centric movies these days so it's going to dump its miramax to a private equity group for $660. miramax is known for films like pulp fiction, also good will hunting. disney wants to stand behind its pixar and marvel films instead. >> marvel isn't doing too badly. >> neither is pixar. >> just gold every time they put something out. >> did you notice the record earnings for chevron and the stocks are down today? >> we need to dig into that further. it might deal with some of their forecasting for the year ahead but based on their numbers their profit and revenue beat expectations pretty handily. >> are they gaining ground or profiting from bp's problems? >> based on what this quarter was, not so much the case. we'll see that later on. they are ramping up their fuel -- their oil production facilities things like

however, chevron was had a positive quarterly report. i live look at the golden gate bridge. many area freeways are backed up, and seeing traffic very slow in both directions as we get into the heart of the afternoon commute. >> and a programming tomorrow, the giants to be on nbc and you will see dateline here at 8:00 p.m. and then a nine the addition of kron 4 news and the smackdown will be moved to saturday. after ♪ with blockbuster on demand, this does hit films on a 4.3-inch screen so big, the way you see them will never be the same. introducing the new droid x. pre-loaded with blockbuster. the next generation of does. >> today, the new generation of the amazon kendaindle.. and for the price, it is a $139. that is $10 less than the barnes and noble nook that this new amazon is smaller, lighter, with a 6 in. reading area. the contrast has improved by 50% and the page turns are 20%, faster. storage is up, and a battery life is one a month! and words will letters will be more crisp and more natural looking on the device. to read more about this, www.kron.com what's on the we

chevron faly theater all day saturday in the leer center for the arts. >> you know what. >> not yet.ll of those activities will be under clear skies r the weekend with inland temperatures and readings in the 70s. >> pretty comfortable for the gilroy garlic

police have a general description of a man who broke a window at a chevron station. >>> america's financialnstitutions are scrambling to address a concept of new regulation. many of which are still not clearly defined. president obama signed the most sweeing reform law since the great are depression. it puts new fees and limits on the nation's banks and poses restriction on derivatives to oversee mortgages and credit cards. >>> a mortgage tracking company says default notices in california are at their lowest level in three years after posting the fifth straight quarterly decline. it's reported just over 70,000 default notice from april to june. that's almost 14% from the quarter january through march. it's down nearly 44% compared to the same period last year. >>> on wall street today, rough morning, rough afternoon. stocks finished day on a down note. dow dropped 20 points, a loss of 1%. the nasdaq closed 35% lower, shedding about 1.5%. >>> signs warning of possible shark sitings have been posted at capitola -- sightings have been posted at capitola beach. yesterday two fishermen said two

chevron family theater all day saturday in the lesher center for the arts. >> you know what. >> not yet activities will be under clear skies for the weekend with inland temperatures and readings in the 70s. >> pretty comfortable for the gilroy garlic festival. >> have fun.

exxon, chevron, conoco phillips and royal dutch shell are contributing $1 billion to the plan. the plan is to build underwater containment systems and pipelines that would be able to capture 100,000 barrels of oil a day. oil companies hope the plan will persuade the government to let them resume offshore drilling. a six-month ban was put in place. >>> a space telescope in south america has found a cad for the "the biggest loser." a star estimated to be hundreds of time as the sun and the sun is ten times larger than average. scientists are surprised and think there's a fundamental upper limit to how massive a star can be and this exceeds it. it's millions of times brighter than our sun, don't plan on checking it out. it's 165,000 light years away. that's far, far away. >> that's very, very far. we'll never see it. >> we'll be bacwi t aming p icazamtuingre picture of a whal taking on a small sailboat. o >>> finally, let's play a round of -- guess what happens next? it's a whale of a story. imagine out on the water and you see this! a 40-ton whale a few feet from your sailboat. w

he still considers himself a mom and pop oil company compared to the major oil companies such as chevron which is pumping 25,000-barrels of crude in kern county every day. the majors and the independence are both he reaping the benefits of an oil boom that has a barrel of crude in the 80 to $100 range. holmes says the high prices have enabled him to try and find more oil. >> when the oil prices are small or low, you know, we had to have pretty good returns now to go after oil that's -- you know, we have passed over before. so we are back getting what you would call the hard stuff out of the oil field. we have got the food already and after the hard to get now. >> the hope is that rig 68 will result in 5,000-barrels a day which means it will take three years to pay off the investment. the well is expected to last 15 years before it goes dry. >> these are excellent times. this is the second big boom. >> reporter: oil workers are referred to as hands. there are 10,000 who make a living off oil in kern county. the higher oil price versus raised their wages to $25 to $30. >> it gives us work

related story in the gulf of mexico oil spill, exxonmobil, royal dutch shell, conoco phillips, and chevron are spending a billion dollars on a rapid response system to contain deepwater leaks. they announced recently that they will use the money to form a non-profit organization. the marine well containment company will develop a system that could be mobilized within 24 hours in water as deep as 3,000 meters. british energy giant bp has been struggling to deal with the blown-out underwater well. it isn't taking part in this project. the decision to launch this initiative appears to be aimed at demonstrating the intention to quickly respond to oil leaks in the gulf of mexico now that the u.s. government has decided to freeze deepwater drilling there. >>> japan's largest business organization is discussing key political and economic issues at a summer conference. the japan business federation, or nippon keidanren, opened the two-day forum on thursday in kiruzawa. the chairman said the private sector should take the lead in returning the economy to a solid track and spurring growth. some memb

continuing to help fuel our nation economic growth. >> chevron. this is the power of human energy. >> bnsf railway. >> the william and flora hulett foundation. working to solve social and environmental problems at home and around the world. >> and with the ongoing support of these institutions and foundations. and this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you.

chevron, shell, exxon-mobil are rising a strike against future deep water drills in the gulf of mexico. they will invest at least a billion dollars for a containment of spills. the securities and exchange commission is taking a new look at a controversial fee most mutual funds charge to cover upfront sales and distribution costs. investors pay the 12.3 fees for years. the fees generate about $9.5 billion a year. >> suzanne: still ahead, this 65-year-old construction manager hasn't worked in two years, but he is not planning to retire any time soon. a look at his financial options in tonight's money profile. >> tom: more now on that oil spill strike-force organized by a quartet of oil giants. and james mulva is the chairman and c.e.o. of conoco-phillips. welcome to "nightly business report." >> good evening. >> tom: this effort begins with a billion dollar investment. how much coming from conoco? >> we share equally, $250 million each for the four companies. >> tom: what kind of link of commitment? >> the commitment is to build a containment system that can handle a blowout down to 10,0

chevron, this is the power of human energy .b nsf railway. >> and by the alfred p shown foundation, supporting science, technology and improved economic performance and financial literacy in the 21st century . >> and with the ongoing support of these institutions and foundations . and-- this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by macneil/lehrer productions captioned by media access group at wgbh access.wgbh.org vo:geico, committed to providing service to its auto insurance customers for over 70 years. more information on auto insurance at geico.com or 1-800-947-auto any time of the day or night.

exxon mobil, chevron, shell a conocophillips today announced they will create a billion dollar venture to provide an oil containment system for use in depths up to 10,000 feet that can collect as much as 100,000 barrels of oil a day. meanwhile, the oil keeps coming as the first oil patty was found in the mississippi river today. now, with the weather picture uncertain, tonight bp is moving vessels of opportunity in to shore and some equipment and supplies to higher ground. brian? >> anne thompson in venice, louisiana. anne, thank you for that. >>> it happened last night in the skies over kansas, and it happened without warning. a united airlines flight bound for los angeles hit some very bad air. turbulence so severe some passengers became airborne in the cabin. more than two dozen were injured and the pilot had to make an unscheduled landing. the ntsb is now investigating. our own kristen welker has more on what happened and why. >> reporter: by all accounts united airlines flight 967 was terrifying for the 255 passengers and ten crew members on board. >> i thought the plane was going

exxon mobil, chevron, conoco phillips and shell have donated $1 million to form a company to respondo spills underwater. bp was informed about the venture but has not joined. >>> ford is trying to make the decision to go green a little easier. the automaker plans to sell the hybrid version of the 2011 lincoln mkz for the same price as the gas model. it is the first time any automaker has done that. and it could force others to follow suit. >>> tiger woods has not won a tournament since returning to the golf course. but he is still raking in the big bucks. tiger ranked number one on "sports illustrated's" list of top-earning athletes for the second-straight year. he earned about 90 million bucks in the last year. but, of course, his extramarital affairs cost him $22 million in endorsements. >> tiger woods was a big story on our abc news website. and now, we have a new ipad app, that we want to tell people about. this is it, right here. like i said, it is brand-new. and a cool way to search for news stories. >> the concept here is that it forms this globe. you can scroll through and fl

rolling seasons rolls on and we'll hear from embattled bp, as well as dupont, exxon mobil, chevron and merck among others. monday, the latest sales of new homes will be reported and more housing news as well on tuesday. the shiller home price index will be released for the month of may. then on wednesday, june's total of durable goods orders will be released and these are consumer products meant to last. on thursday we get the federal reserve's beige book, a monthly survey oactivity across regional economies and on friday, we get the second quarter gross domestic product reading. the gdp is the broadest measure of the health othe u.s. economy and often is a market mover. finally to date, lower manhattan may be the safest place to hide billions of bullion, right around the corner from where we are, the world's largest stockpile of gold is safeguarded and is 80 feet underground and holds more than 500,000 gold bars. the central banks and international organizations. it charges $1.75 fee per bar. when gold enters or is moved within the vault. with gold prices topping $1100 an ounce, that'

exxonmobil, royal dutch shell, conocophillips and chevron will commit $1 billion to launch the emergency response system. >>> and now here's a look at some other stories making news early today in america. an ohio man is facing felony assault charges after attacking a female bartender. now, police say the woman had asked the suspect to leave when he threw a bar stool at her, jumped over the bar and then started stomping on her. police had initially charged the man with misdemeanor assault, but upgraded the charges after seeing surveillance video of the incident. >>> the san francisco police department is investigating one of their own for the level of force used during a recent arrest. home video shows an officer apparently forcing a woman face first into the pavement after she refused to get into a patrol car. police say they arrested the woman for allegedly assaulting someone while intoxicated. >>> back to ohio now, where newly released video shows a young elephant charging at his trainer after apparently being surprised by the man. that trainer is in serious condition with two punctur

week ahead on wall street, it will be all about earnings with results from bellwethers including chevron, dupont and boeing. in terms of important data, new home sales will kick off the week today followed by the home price index on tuesday. also tuesday, consumer confidence figures which are expected to show a slight dip. durable goods orders on wednesday are forecast to rise 1%. weekly initial jobless gains on thursday are expected to ease slightly from the week before. >>> and finally, benedictine nuns from a secluded convent in southern france have had their prayers answered. they've signed a record deal with the same label that signed artists like lady gaga and eminem. the nuns hope to create a chart topping gregorian chant album. >>> a winner in france, a big trade in baseball and cooperstown welcomes a new member. plus a-rod takes one on the hand and takes a seat on the bench. your early morning sports headlines are straight ahead. >>> it's still going to be a hot monday, but the humidity has dropped in many areas. finally a little bit of relief. your regional forecast is coming u

we'll see quarterly results from oil giants b.p., chevron and royal dutch shell. and monday, ford unveils its new explorer. the updated s.u.v. is expected to be smaller and more fuel efficient than older models. >> susie: mark your calendars for the week of august 16. that's when general motors will file the paperwork to go public, according to reuters. the automaker reportedly wants to complete its i.p.o. before november's general elections, trimming down uncle sam's $50 billion ownership stake. experts say a g.m. public offering could be the largest ever domestic i.p.o., bigger than the current record holder, visa. its public offering two years ago almost topped $20 billion. >> tom: disgraced media mogul conrad black is staying in the u.s. for now. a federal judge today ordered him to surrender his passport, nixing his hopes to return to his native canada. black was bailed out of prison wednesday after serving part of a 6.5-year sentence for defrauding investors in his company, hollinger international. that conviction is now being re- examined. the judge wants b

going to be getting earnings in the very last week of july from exxon-mobil, conoco-phillips and chevron, are they going to meet or beat expectations? >> i think many of these companies will meet or beat expectations. refining margins have continued to improve. a lot of the estimate out there don't really reflect that. the companies have been doing very well on the cost control side. i would not be surprised if many of the integrated energy companies beat expecttations in the next couple of weeks. >> susie: you have given us four stock picks, conoco, halliburton, and oxidental. what do you like about these stocks? >> i think all of them are very cheap. conoco and shell have good growth opportunities. they pay great dividends, yield between 4% and 6%. halliburton has been beaten up with the gulf of mexico. i think they'll continue to close that gap by schlumberger. and oxidental is the biggest onshore producer of oil in the u.s. very good growth prospects for oxidental, just like all of these companies. >> susie: we have a half minute left. exxon-mobil is not on your list. why is that? >>

the crowd was so thick here that an ambulance that was trying to move from noe to the chevron station took 10 mnth minutes we knew we had to change what halloween evolved into. halloween became not a neighborhood celebration most neighborhood residents don't attend it's more walnut creek and san jose people coming to look at the people celebrating in the castro. >> many people of the lgbt community don't go because they feel most of the people come in from the suburbs. a question of residents not wanting their neighborhood invaded and torn up by people who don't have a stake in the neighborhoods. >> unfortunately there has been some, although a small level but some violence. some homo phobia, some sense on the part of the people who live here that people come to halloween to gawk and make fun that should not be acceptable anywhere in the city. >> people come to the castro for halloween because its the castro. they come for the people watching and the party holding a concert elsewhere in the city will not lure people away. >> its tough because i remember the days when we tried to have

. >> chevron, this is the power of human energy.jú sf railway.and by the bill and melinda gates foundation, dedicated to the idea that all people deserve the chance to live a healthy, productive life . and with the ongoing support of these institutions and foundations . and:. >> this program was made possible by the corporation of public broadcasting and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the broken oil well deep under the gulf of mexico stayed capped today for a fourth day. as b.p. and the obama administration wrestled with how to read new information from the site. the cap continued to hold. and b.p. was allowed to keep it sealed for another 4 hours. but tests showed seepage on the ocean floor, roughly two miles away. and tiny bubbles on the well head indicated small gas leaks. this afternoon retired it coast guard admiral thad allen said the seepage is not a major concern. >> it is the collective opinion of the folks that are talking about this that the small seepages we are finding right now do

has already confirmed it is looking to sell the assets with few details an ounce to exxon mobil and chevron now both in talks to take over the company but first things first to stop the leaking first asked to begin with the plug the well that's still not done yet we're still two to three weeks away from that even though the spill has now been contained it has not been plugged so the first order of things to get the plug done second is to figure out how the reinvestment side going to be done and then it's a question of reconstructing in winning back the trust of the american people who are dudley has shown his skills at getting a good price when he sold masses of team keep b.p. tell him to. come in handy now b.p. needs to raise cash to people consequences of that toil spill in u.s. waters the question is how much he has to be brand in the process than any bit of a business r.t. . a close contact of b.p.c. chief executive says b.p. has russian interests will be managed directly by robert dudley that runs counter to me just speculation that outgoing c.e.o. tony hayward is being drafted in to l

exxonmobil, chevron, conocophillips and shell are forming a joint venture to design, build and operate a rapid response system they say will be able to capture up to 100,000 barrels of oil a day. startup costs are right around $1 billion. an exxon spokesperson said bp was not invited. >>> ford is going where no automaker has gone before. the company announced it will sell the newest hybrid 2011 lincoln mkz for the same price as the gas-powered model, about $35,000. the decision could lead other competitors to follow suit. hybrids usually cost several thousand more to build because of the technology involved. >>> if you have a bad case of the thursdays, you're not alone. a study tracking the moods of twitter users shows that people are angrier on thursdays than any other day of the week. researchers searched tweets for words linked to certain moods and tracked how frequently they were used on the social networking site. betty, i think we agreed that we were angrier on wednesday than thursday because at least on thursday we could see -- >> light at the end of the tunnel. yeah, the weeken

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has already confirmed it is looking to sell the assets with few details an ounce to exxon mobil and chevronnow both in talks to take over the company but first things first to stop the leaking first class to begin with to plug the well that's still not done yet we're still two to three weeks away from that even though the spill has now been contained it has not been plugged so the first order of things is to get the plug done second is still figure out how the reinvestments like going to be done and then it's a question of reconstructing in winning back the trust of the american people who are dudley has shown his skills at getting a good price when he's sold upstream assets of t.n.t. b.p. their talent will come in handy now that b.p. needs to raise cash to people consequences of its oil spill in u.s. waters the question is how much he has to dilute the brand in the process than anybody would business r.t. . now it's time to take a quick look at how the equity markets are shaping up european shares are advancing was shock games being seen in the planking sector park these noise and world ba

already confirmed that is looking to sell of assets with few details an ounce to exxon mobil and chevron now both in talks to take over the company but first things first to stop the leaking first ask to begin with the plug the well that's still not done yet we're still two to three weeks away from that even though the spill has now being contained it has not been plugged so the first order of things is to get the plug done second is to figure out how the reinvestment side going to be done and then it's a question of reconstructing in winning back the trust of the american people robert dudley has shown his skills at getting a good price when he sold masses of team t. b.p. they're telling to. come in handy now that b.p. needs to raise cash to pay for consequences so it's all a spill in u.s. waters the question is how much she has to dilute the brand in the process in any way to do a business r.t. . now a quick look at the moscow markets the heart and afternoon trade with the r.t.s. up nearly one and a half a cent last night and the t.v. of boca had by more than one of the hot percent plu

has already confirmed it is looking to sell the assets with few details an ounce to exxon mobil and chevron now both in talks to take over the company but first things first to stop the leaking first pass to begin with to plug the well that's still not done yet we're still two to three weeks away from that even though the spill has now been contained it has not been plugged for the first order of things to get the plug done second is to figure out how the reinvestment side going to be done and then it's a question of reconstructing and winning back the trust of the american people who are doubly has shown his skills at getting a good price when he sold up to masses of team keep b.p. tell him to. come in handy you know b.p. needs to raise cash to people consequences of it or spill in u.s. waters the question is how much she has to dilute the brand. in any bit of a business. and now it's time to take a quick look at how the acting markets shaping up european shares are advancing with shock gains being seen in the banking sector barclays lloyds and world bank of scotland are all getting betwee