cisco shares surged 4.5% in after hours, but then sold off when cisco c.e.o. john chambers said he expects "weakness" in the current quarter. he also expects job cuts. cisco has been struggling recently and restructuring its operations as it tries to cope with intense competition. and you can see the pain in this chart-- shares are off 12% year- to-date and the stock is down sharply from its high of $27.57 a year ago. and that's tonight's "market focus." it's wednesday, the night where you'll find our "street critique" segment every week. before tom hudson left on assignment, he caught up with hilary kramer, getting her stock picks, and answering your questions. >> tom: investing always includes a certain amount of uncertainty. but with the spending debate in washington, questions about european government debt and efforts to slow down the red hot chinese economy, tonight's street critique guest is looking for the comfort in electricity and water, hillary kramer. always nice to see you. usually power and water don't mix like. this you like them both. first the

>> not the sand and cisco bay trail, which goes all the way around the bay -- the sand and cisco bay trail, which goes for all the way around the bay. >>. walking trail or bicycle? >> it is both. >> ok, dan has to go. thank you very much. >> thank you, enjoy the water. >> ok, we're going to go around to the front door and look at this. the ferry building was originally built on woodpiles. that were driven down into the mud. not the bad rock. it is almost impossible to find bad rap here -- it is almost impossible to find that rocked -- bedrock. they brought this so they could build the ventilation shaft, and the construction materials were brought here. the same thing is true if you go up to camp mather. a lot of what you see at camp mather was built, part of the construction shack and places for people to lift when they build the dam. the same thing is true here. this is the bart ventilation shaft and the ferry. the average water depth isz about 40 feet, and that is about right. on this side of the bay, we have average depths better 35, 40, 50 feet. the east side of the bay is very s

she is a teacher and counselor in san and cisco, her family contributes to the scholarship. the winner of $1,000 is christina hernandez. she is going to san francisco. rickey is from mission high school and she is going to texas southern university. congratulations to [applause] all of the winners, thank you so much. >> a good evening, superintendent garcia. president mendoza, board members, and everyone assembled. i'm emily and i would like to announce that we were able to present her five students with scholarships of $500 each. they were honored on thursday, may 12 in the heart of the african-american community. we thank the commission for hosting us once again at the african-american historical and cultural society. two of our young people are here this evening and of like them to come to the microphone, state their name, the school they attended have the college they are going to and any other information they want to give us. san francisco alliance for black school educators. the new president, thank you. >> my name is mark this, i graduated today. next year i will be

is an honor to be here with the other honorees who have worked hard in their communities in sanford cisco as well. i want to say that i am very fortunate to be able to work for the ymca of san francisco as well as in a district 5. to show my appreciation for this report, i have,coo and cfo here to support me. earlier, our ceo was here but he had to leave. our pilot crime rate has dropped significantly, and i feel this has been accomplished by forming collaboration's to serve the community. on top of that is our leader, supervisor mirkarimi, with his eight -- aide. it brought together organizations in the community to help dropping these rates of crime. of course, i mentioned ross and rally round. urban services ymca. london breed the african american arts and culture center. sue ginsberg at park and wreck -- cardin -- park and rec. this is just a partial list of the community based organizations that have banded together to work with the youth and families in the western addition. these are organizations that serve the community. last week, with the merchant what that the mayor came to, a

cisco's sales bounced back from the recession but started stalling again last year. the company's ceo announced yesterday he wants to cut annual expenses by $1 billion or roughly 6%. cisco is the world's largest maker of computer networking gear and the largest private employer in san jose. >>> 4:46. it was a huge headache for the dmv and drivers. how it's finally fixing the delay with its new licenses. plus, he was kicked off facebook but not because of anything he posted. how one man's famous name is turning into a major frustration. and it was one of the most talked-about outfits next to the dress. how you can get your hands on this infamous royal hat. ,,,,,,,,,, ♪ let's go out to the dmv ♪ it's ok that we're number four hundred and three ♪ ♪ we'll find ourselves a comfy seat ♪ ♪ and watch some shows and stuff ♪ ♪ ♪ let's follow that lady with the laptop ♪ [ male announcer ] now you can watch hit tv shows on your laptop with u-verse online and on your smartphone with u-verse mobile, included with most plans. or get u-verse tv for as low as $29 a month for 6 months

cisco is the largest maker of computer networking gear. today they reported a net income drop of 18% in the next quarter. they want to cut annual expenses by $1 billion so that could be as many as 5000 jobs. >>> gasoline prices took a big hit today. the energy information administration says demand suffered its largest drop in seven straight weeks of decline. gas futures fell 8%. gas now averages just under $4 a gallon nationally. >>> falling commodity prices weighed on wall street. the nasdaq fell by 26. >>> google announced its first notebook computers running their chrome operating system will go on sale next month. they say the net books will cost between $350 and $500. >>> a battle is brewing with aspca and the complaint centers around high-profile fund- raising. >> reporter: the music and the animal faces make this tv ad hard to watch and forget combined with a plea from singer sarah mclachlan, the aspca pulled in more than $1 million in 2009. some animal shelters say that everyone know where their money is going. >> how much money d

folks will be here, le nations t to cisco. we have to do this right. we will be reaching out to you on that basis. when you think about the women's economic summit, there is an individual in the bay area that personifies what this is all about. she was born in shanghai, went to university here in the bay area, and came to be the co- founder of one of the top companies in the area, marvell technologies. i have got to know her and have watched her and her husband about the business. not only do they do good business, they are absolutely powerful stalwarts for the greater civic community of the region. it is just phenomenal the work you are doing. you said a wonderful example. we are ready to lead on this thing. so without any further ado, let me introduce the co-founder of marvell. i think you will see, she is much more than that. when she is finished, i will come back and moderate a few questions from the media, if you have them. thank you all. [applause] >> thank you, jim, for your kind words. it is all about teamwork. good morning. so happy to be here

cisco thopped build the fire wall of chin a. cisco sells the same in china as other countries. >> petco pet store chain is threatening to sue in san francisco. there is a city hall proposal to ban all chain stores from the area. the head of the small business commission said we'll take our chances on that. >> a showdown for at&t and community activist in san francisco. at&t wants to upgrade the equipment but opponents say what they are proposing is blight. here's the story from san francisco. >> at&t said the big boxes represent the most significant upgrade in the 100 year history of the operation in san francisco. telecommunication's giant had a handful in place and wants to install 726 u-verse utility boxes in the city. wooloffer faster internet speed and better telephone service to compete. >> and so why are these people protesting? >> they represent san francisco beautiful. the sierra club and the neighborhood parks' council. >> let's have beauty and not boxes. >> it would congest side wakes and invite graffiti. they want te

>>catherine: let me ask you about cisco. not great news?>rob: they were a giant, and going to compare them to microsoft for their boring and still. there's other companies that are doing young things. cisco is lame they came out, cut their sales and earnings and now cut jobs. john chambers their southern ceo he said that were no longer standing behind his 12 to 18% growth. it's a slow mover now. >>catherine: i know you're going to come back, we will look at your e-mail's, stay with us more news after the break. >>live, from the bay area's news station, this is kron4 news at 4:30 p.m. >>pam: he has been in jail for 10 months since he was

at the california democratic convention in sacramento this weekend, i remember a time when sanford cisco brought forth -- we were the leaders in the resolutions that brought california forward and brought the rest of the nation forward. so i am really honored to be part of that democratic tradition. i guess the other thing i want to say is i grew up in cleveland, ohio, where i did not really think of myself as a person of color. the only people counted in the sense is as far as i know where african-americans and quarter ricans quarterpuer -- puerto ricans. i was 23 before realized i was not. i thought it was just amazing to be part of this community. to be here, to be honored for the first award from the board of supervisors during this month, during a year when we have our first asian american mayor in san francisco, it is just an amazing thing, so i thank you for everything, and thank you for everything you do. i know how hard you guys work, and i know we do it with the best interest of everybody, so thank you. [applause] supervisor chiu: our next lottery will be recognized by our coll

another thing that is helpful to note -- sandron cisco compares favorably because we use a little water. our average water use is only 150,000 gallons for dead. -- per day. commissioner torres: since moving here in 1996, i had to give up the high cost of water in los angeles. >> and better water. commissioner torres: and better water. >> i would like to ask -- we have not done that? commissioner torres: i am here. >> i know you are. president vietor: commissioners, any comments? is there a motion to move item number 11? commissioner torres: so moved. >> second. president vietor: any public comment? >> we have three speaker cards. >> on item 11 or 12? >> i am sorry. item 12. president vietor: all those in favor of item all leaven? all opposed? motion carries. >> the discussion of water supply for fy 2011-12, consider and adopt a reasonable to recover the projected loss of revenue requirement from 27 wholesale customers, as applied to the meter readings, including an adoption of an untreatable still water rate discount factor. this risk of alamance the terms of the 2009 water supplied fro

i'm talking cisco systems. scott mcgrew joins us now. >> cisco will report profits. they are under pressure to take action and streamline itself. getting rid of the beaurocracy that is slowing down decision making. cisco will offer early retirement to some employees and you recall earlier, they dumped the flip video camera line, a company for which they paid a half billion dollars. meanwhile, there you see some of the flip video. let's talk about fortune magazine. more people are visiting apple stores than going to baseball games. in fact, four times as many people go to apple stores. apple stores make more money than baseball. $9 billion in sales just in stores compared to $7 billion for all of baseball including tickets, tv and merchandise. you heard the phrase and american as apple pie, how about as american as apple. >> you said it. thanks so much. areisthninithororwa m m, u uni , waking mp tiburon.ki bob redell is going to get on a fire boat. could be trouble this morning. stick arnold. >>> our tour across the bay continues this morning. we are waking up in tibu

shares of cisco systems fell claiming cisco customized the technology to help china track the spiritual movement. now, for its part, cisco denies the charges and says it will defend itself. here's a fun story. toyota announcing plans to have their cars communicate with you via social networks. the cars will tweet you if you are low on gas and facebook you if your tires need air. this is still in the prototype stage. >>> meanwhile, this piece of plastic is changing the way businesses make and save money. it comes from a bay area start-up that is growing, hiring, and trying to make your next purchase a whole lot easier. it can sweeten things when you sell cupcakes and make your ice scream store a little cooler. the square app from the start-up of the same name is catching on by the download and changing how business is done. >> everyone loves signing with their finger. >> reporter: thanks to this little attachment, you can sign with your finger and do business without a cash register. for robin who owns smitten ice cream, it's an app that saves thousands of dollars. >> we're known as the

this is goin t compete against cisco an cisco tem will presence -- telepsenc it is going to compete o t wireless side. they can do lot morwith it and that's how theyan justify the price, o course ift works ou >> can th actuly me money. if skype ha't beenable to make mey outf this, is it justleveraging it aoss the company llthey subdize it with other parts of miosoft's business? >> i think they will be subsidizing. this is more of an offense ve. skype notleedg edge ne technolo. this is an entrenched techlogy, old thnoly, buas i said bore,t is stic technology. they can levera this, 170 milln users and bring them into the microsoft fold, ey canefend themselves i a beer w against all tse other competitor >> tha you very much, andrew. >> tnk yu. >>and in on more note fom th technology worldoogle annoced day it is launching an onine mic service similar theperation offed by amazon t aowssers to store and accessup to 20,000 songs whererhey are, but it is stl unclear whether the rerding industry wl go along with the plan. yore watching bbworl news amera. still to come, the beautul game cesnder

last night, cisco warned of continued weakness. each of these legs down corresponds to an earnings report. meantime, the leading tech stock was symantec, the computer security company. shares jumped more than 5%. and this is a 52-week high. its results late yesterday were better than expected. tonight after the close, the market focus fell on semiconductor maker nvidia. earnings came in well ahead of estimates. it's outlook was also better than forecast. shares were strong into this report, up 3% during the regular session. but in extended hours action, they were down more than 3%. while still below its 52-week high, shares have been trending higher since hitting single digit lows last august. also after the close, department store nordstrom beat the street, but dropped its full year outlook thanks to its buyout of online retailer haute-look. nordstrom stock has been hitting a series of new 52-week highs, but the stock was down about 2% after it cut its outlook. financial stocks were the weakest, thanks to this sharp drop in goldma

mr cisco bitch we have already discussed the difficult economic situation that belarus is going through the value and the demo ation of the bell russian ruble developed as the financial crisis and the devaluation of the bell russian ruble hit the bottom yet it's really by no means all the experts agree that they should have evaluated the belorussian herbal guy for more than fifty six percent of the prices keep growing of course they will through a couple of people in jail naturally they will blame it all on them it will address the nation on television accusing them of all the hardships that people of belarus have to endure it will all be a bundle of lies. but there are a lot of people in russia who admire the dollar rushing it cannot make model well the left for that model use complete e.t.c but you know it and i can prove it they deal with it i can consider this the russian ruble the end of the russian ruble both came from the soviet herbal. moreover we had a denomination to increase their roubles value by ten what to do your russian ruble is worth over three hundred belorussian roubl

this is the james lick freeway and 7 cisco, traffic is nice and polite.will leave about that. it is still pretty cloudy, we are back with more in a couple of minutes. [ jerry ] look at this! you got a state-of-the-art man-cave, but the savings account of a cave-man! hey sports fans check this out. [ beep ] oops, my bad. earn more with interestplus savings at capitalone.com. that's new school banking, baby! ooh, 3-d! instead of earning bupkus, your savings could be earning three times the national average! three times more. go online to capitalone.com. what's in your wallet? what's this do? [ beeping ]

images can be found in bart stations located in san for cisco and oakland. >> it is enormously exciting for me personally and for the institution. the poster with up right after new year's, and i remember very vividly -- i am a regular rider, and i went into the station and saw the first poster i had seen, it was incredibly exciting. it is satisfying to know that through the campaign, we are reaching a broader audience. >> for more information about >> hello. welcome to "meet your district supervisor." we are here with supervisor farrell from district2, which includes the marina, pacific heights, st. cliff, and the neighborhoods surrounding the presidio. supervisor farrell started his first term this january, so he is new to the board. we will get to know him and talk about the toughest issues facing the city. welcome, supervisor. thank you for joining us. tell us about your background -- where you grew up, went to school, the kind of jobs you have worked. >> i am a born and raised san franciscan, first and foremost. very proud of that. i am also a born and raised district 2 residents.

giant cisco is spreading its wings in russia as the first outright components roll off a newly built russian production line the head of cisco's russian unit outlines its investment plans for the country. the announcement would be investing with three of the next ten years at least a billion dollars into the strategic development of russia school called being a part of that's a picture and at least a hundred million of them billions will probably go most likely go into the venture finance and buy mission just we just started the license let me mention the process we were producing the first product in russia completely bought the product itself . and the software and the sub working on top of the bottom which are certified by robert gates and the russian federation. i have to thank the business for this hour we'll have more for you and just under an hour's time event. to. culture is the same us you are going to try to use the word rather than the model there's a taliban bad guys with the killing of osama bin laden u.s. president barack obama has an historic opportunity and afghanista

global i see john cisco is spreading its wings in russia as the first outright components roll off a newly built russian production line the head of cisco's russian arm outlines its investment plans for the country. when i will certainly be investing period of the next ten years at least a billion dollars into the strategic development of russia scolded for being a part of that to make sure the barb and at least a hundred million of them billions will probably go most likely go into the venture finance and buy mission to us we just started licensed in the main action process for producing the first product in russia completely. the product itself and then the software that is working on top it up on the server side by. radiation submitting the russian federation. and that's all the business news for now as you can always keep up with online at ati dot com forward slash business stay with us some more news with kevin now. the book. culture is the same up charge in the run business model there's the taliban bad guys with the killing the ahmed bin laden u.s. president barack obama doesn

cisco's sales bounced back from the recession but started stalling again last year.he ceo says he wants to cut annual expenses by $1 billion or roughly 6%. cisco is the world's largest maker of computer networking gear and the largest private employer in san jose. >>> wall street reacted this morning it new reports on jobs. wholesale prices and retail sales. ashley morrison is in this morning for kcbs moneywatch reporter jason brooks. good morning. >> reporter: good morning. and two economic reports just came out. retail sales rose for the tenth straight month in april but much of that because of higher gas prices. also first time unemployment benefits plunged drastically last week by 44,000. but economists say that number is still far above the level needed for sustainable job growth. crude oil trading just above $97 a barrel. metals and other commodities are lower. stocks are falling. let's get investor reaction. as you can see the dow is already down by 82, the nasdaq is also lower by almost 24. we'll check some local stocks for you. as you can see, we are not goi

in addition, fed and cisco has successfully transitioned its vehicle fleet from diesel to cleaner burning biodiesel. this demonstration furnishes technology that would allow the city to recover what is considered waste greased out of the city, converting it into a clean biodiesel. we are excited to once again get grant funds. we would appreciate your support. thank you. supervisor avalos: we will open this item for public comment. seeing no one else, we will close public comment. moving forward with recommendations. supervisor, you have worked on the ordinance? supervisor mar: thank you for this great work, making ground greece into biodiesel. i hope that other cities adopt this model as well. thank you. supervisor avalos: moving forward without recommendation -- without objection. that is our last item? >> yes, mr. chairman. supervisor avalos: we are adjourned. thank you very much. [horns honking] [siren wails] announcer: big dreams and goodrades aren't enough to get into college. there are actual steps you need to take. finding someone who can help is the first and most important. for t

cisco, marla, told reporters on a conference call wednesday afternoon the job cuts were probably in theries to slim down and focus on its core businesses. it hopes the offers of early retirement, which we announced earlier, will take care of a bulk of those cuts the easy way, but cisco is under enormous pressure to get back to basics after dabbly in a bunch of tangential businesses. >>> another day without the playstation network, down for more than two weeks, thanks to a hack attack. third-party gamemakers are starting to worry sony's shutdown will discourage people from buying their new games. face it. the best part of games is beating your friends. i asked the head of ea sports what the shutdown means for the world's biggest video gamemaker. >> obviously, we are very eager to get the network back up, because it's an important part of what we do here at electronic arts, but getting it up early, particular it's ready or secure would be a mistake. we're working with pard partners and making sure we're delivering everything we can to help them and likewise, sympathetic to ½e fhepf fh up,

the city and county of sandford cisco board of appeals rules of board of a field -- san francisco board of appeals stipulates at the discretion of the president, except with a starter, other rules to provide required procedure, meeting shall be conducted rules of order. the board has conducted meetings not in conformance with the rules of order. i am bringing this to the attention of the board and requesting it comply with the san francisco charterer and the city board of appeals rules of the board of appeals when conducting its meeting. thank you. >> thank you. is there any other public comment? seeing none, we will move on to commissioner's comments and questions. item number three, for your consideration are the meetings and who -- the minutes for the may 18, 2011 meeting. >> seeing none, i will move for adoption during good >> is there any public comment on -- i will move for adoption. >> is there any public comment on this item and? we will move to the role of h -- to calling the role. [calling fovotes] >> this is adopted. >> item 4a, a jurisdiction request. the board received a le

. >> morning job cuts in work cisco systems, rosy forecast.red hundreds when it different the flip camera unit this year but things may be improving for job seekers, surging to the highest level in two years. labor department says more than 3 million jobs are currently available. vampires, they report they are out. mermaids the next big thing. the emergence of sexy mermaids in pirates of the caribbean. i'm jane king with the bloomberg business report. >> eric: money is still being paid by pg&e to agencies that have asked for more than $4 million in reimbursements for responding to last september's pipeline explosion in san bruno. san francisco examiner reports the payments by pg&e are being coordinated through the california emergency management agency. it has received 60 applications very from various city and county agencies. the costs include $758,000 for fire fighting. san mateo en kurd $850,000 in expenses related to the disaster it has received 20% so far from pg&e. >> kristen: a person born with a deadly birth defect is about to celebra

cisco admitting that a staff reduction is coming up. they will know their fate and commodities like gold and oil, good news for commuters and gas prices and investors are nervous about the strength of the economy and today they will pull money out. google making more news this will be a direct take on of microsoft. built in it will rent to users starting at $20 a month, eventually $449 and starting to come out in mid-june. >>> and we have a quick launch, that launched today, over your facebook page, independent films will be able to watch for free. >> we put the money on the flip watch platform and take advantage and make it a movie theater. it's a complete experience. we can watch their movie, comment on the movie. pause it, start it, watch it with friends, watch it by yourself, but the thing is, it's a complete social experience. >> the first 1,000 people will be able to watch for free. they will get in front of a potentially huge audience and also good news for movies and social networking at the same time. raj and jessica? >> we lik

cisco is down and lower at the moment.t in the housing market in bay area, in san jose area it fell compared to a year, down 22%. and new way to get a movie. go to are a by's and you get free movie. go to facebook and you can get a one need dvd renting a al and return it on time or you'll get a late fee. >>> tsa say air screeners were just doing their job when they searched an infant. it was at kansas city airport, traveler posted this cellphone picture on twitter. a spokesperson says a stroller set off an alarm that indicated traces of explosives. they snapped the picture. >>> in southeastern spain thousands of people spent the night outdoors in fear of more earthquakes after two strong tremblors. yesterday a magnitude 5.2 quake shook 220 miles south of madrid bringing down bricks and facade of a church. eight people have died in the two quakes with dozens injured. seismologists say the quake was so light but the damage was heavy because it was centered half mile below the surface and it magnifies the destructive power. w

images can be found in bart stations located in san for cisco and oakland. >> it is enormously exciting for me personally and for the institution. the poster with up right after new year's, and i remember very vividly -- i am a regular rider, and i went into the station and saw the first poster i had seen, it was incredibly exciting. it is satisfying to know that through the campaign, we are reaching a broader audience. >> for more information about [gavel] supervisor chu: i am supervisor chn -- chu and this is the budget and finance meeting. would you please update us? we have a short agenda. thank you very much. this item is a hearing on the ongoing budget update. we will get to item number two very shortly. so quickly, for the update on the ongoing budget, is there any new news specifically with regard to the federer budget or the state budget. >> the mayor's budget director. i will be brief. we will have some more soon in the relatively near future. the governor may revise these on the 16th of may. they will look closing the remainder of the deficit and the plans for the november ba

but must 7 cisco buildings, we will create a lively, nod, and we truly believe that this will be a great complement to the area. on the second floor, we are thrilled to welcome the first city target, and donna will tell you about these plans. on the third floor, we" brands to amc theaters. we will renovate this with a dynamic new box office. the fourth floor, where we're standing today, is called a city view. this will also be renovated to make a more unique and successful premier location with a special events. we are pleased to tell you that this is nearly fully leased. with over 20 restaurants as the mayor has mentioned, with retailers and other offerings. as construction is under way, they will all remain open. so please come and continue to enjoy them. the new city to open in september 2011, after brief refurbishment, and the first floor, including the new dining terrace, will open in the first quarter of 2012. target is looking to open in the second half of 2012. to reach this milestone took a lot of hard work, by many, many people. and a healthy dose of imagination. we are thrille

we know that retail trade on average has significantly higher averages of employment being seven cisco residents coppe -- san francisco resident. you would expect the majority of the jobs generated to go to san francisco residents. supervisor mirkarimi: but without a particular mandate or direction, you are basing that on a trend, correct? >> yes, that is the city's current practice and pattern. supervisor mirkarimi: in order to support proper have its towards the idea of a practice upper local hiring, from what we can tell in this document, there is nothing that really perfects that particular objective. >> we do have a jobs plan and economic opportunity plan that addresses, based on the first ordinance in the city, it would capture jobs for various developments. the goal being 50% of those jobs being 50% and 25% being the population that tie dye is serving. so, we do have part of a plan. supervisor mirkarimi: as it relates to the commercial side, the local hiring for source components do not kick in until 5000 square feet of commercial space is activated. i wrote that law. that is wh

i am told that this came from chris, she is referring to the perception of 7 cisco cabdriver's that they're rude, untrained, and how to operate their own payment processing equipment. they have refused any fare that is not good enough for them or paid in cash. and unwilling to wash or change out of their pajamas before going to work. and taxi drivers refuse to respond to radio calls because they're on their way to or from the airport or unwilling to leave downtown. if you want the public to what is the events as the taxi, look at the mirror. you have to look for a part of the solution to the problem. that may be so, but i have worked in private businesses my entire life. [chime] the way you and improve the quality of employees and the workmanship is to increase pay and working conditions. neither of which this panel is doing. >> good afternoon. and then if you don't help us, next time i'll ask credit-card customers to bring me eggs and oranges. >> in this country, everybody has the rights. we are driving cabs, perhaps altogether. could you list for us what rights we have? we only have the r

. >>> santa cisco and daly city are -- san francsico and daly city are going to have more control over what happens at the cow palace. under the bill introduced by senator leland yee, daly city and san francsico where hold four seats on the board. a need for greater control of the cow palace has intensified after a number of incidents including drug-related overdoses and deaths there. >>> one, two, three. >> that is san francsico mayor ed lee taking his first swing to start the demolition of the metrodome complex. there is a 300 million-dollar makeover for the building first opened in 1999. the anchor tenant will be a new target store in 2012. >>> firefighters are still missing tonight at a residential fire we back to you live last night. dozens of people are still without a place to stay. >> reporter: residents were allowed to go in and some came out with boxes and bags. >> as i reach for the doorknob, i could see smoke coming out at the bottom. i realize, okay, i do not have time for my papers. >> you are not sure if somebody is thinking or something -- is faking it or something. >>

the comptroller's office includes a handful of sand and cisco companies likely to issue an ipo in the coming years. we very much appreciate the efforts to of mayor wheat and supervisors that have begun a broad evaluation with the city cozy business sector. the public-private sector discussions with regard to the best approach while maintaining the city's general fund. in this context, in direct response to the recommendations, with regard to what is the best approach in advancing considerations for stock-option exemption, i introduce legislation that is aimed at keeping the pre-ipo companies in san francisco. it features a limited stock options tax incentive. these companies undertake a public stock offerings while in san francisco. it is a time frame that they can be renewed. a requirement that companies pay that least $750,000 in stock- option is the story -- but before receiving the exemption. and a study to determine the tax exemption's economic impact, including the effect on retaining companies in the general fund. the company in the history would have been eligible for the tax

, as required under the terms of the water supply agreement between the city and county of san but cisco and the wholesale customers, which was approved in 2009. -- city and county of san francisco and in wholesale customers. >> you have been hearing about the surcharge over the last six months, when you adopt the interim supply. this is the second part of that. it actually puts into place the projected water use exceeding the amounts, which is not projected to exceed, but nevertheless, we are to adopt the fiscal 2011-12 rate setting process. it is required under the contract. for water sales to be effective, with the fiscal year 2011-2012 delivery, usage over to london 65 mgd, and just to compare it, it has been about 225 -- 265. we are significantly below that number. .an equivalence surcharge for retail and other customers and that would apply to each customer in terms of supply allocation. the mechanics of it is that it would be done by the following september, and it would be over the remaining nine months of the following fiscal year. this is predicated on the record and that the b

parks are no sandford cisco is probably 1200 tobacco and permits. -- >> in san francisco, it is probably 1200 tobacco permits. i am not sure if they get to that many each year. >> conditioners? the -- commissioners bowman -- commissioners? >> vice president garcia, were you about to say something? commissioner garcia: i wish the department would do an analysis of how this works out in dollar figures for an individual operator, and let's take an assumption that all the figures are exactly correct your year of 30 days was decided -- are exactly correct. 30 days was decided. that might seem reasonable to some people, of the fact that it is the first offense, and we can all assume they did not just kesse and the first time they sold cigarettes, but we should assume that. they said they have never done it iaside from this time, and then you compare the find is someone who sells liquor to a minor region -- compare the fine to someone who sells liquor to a minor. my memory is it is something like $100, so we are saying -- maybe some people feel like this, that tobacco -- the sale of tobacco, wh