we thank our sponsors, starting with city national bank, which is also a longtime sponsor and partner and provides us with the outlook on investment and finance each year. we want to thank bob grant, the vice-president for city national bank, the nation's 26 largest bank with more than $23 billion in total assets and 79 offices in the bay area, southern california, nevada, an atlanta. they provide their businesses and families with complete financial solutions on the way up. we also want to thank golden gate university, which is also what i'm going to sponsor this event, and an angel, president of golden gate university. you will see him in just a minute. for over 110 years, nonprofit golden gate university has been helping adults achieve their professional goals by providing undergraduate and graduate education in accounting, law, business, and other related areas. ggu is california's fifth largest nonprofit university, and rolling over five dozen students with over 67,000 alumni. offering weakened forces in downtown san francisco and online through the university's award winning cyb

we have wells fargo and city national bank, fremont bank. we have mrs. willby who is a good friend of ours. >> she's been on mosaic several times. >> during the week we have other elements that raise money for us. we have lunches and teas. we have beautiful lunches. they're 55 55 lunches. those are on tuesday wednesday and thursday. >> of this week? >> of this week. and we also have beautiful afternoon teas on tuesday wednesday and thursday afternoon at 3:00. they cost $35 and they're lovely sea sandwiches and cookies and cakes and tea. >> how do i find out about this? who do i call? what website do i go to? >> bow bouquetstoart.com that will get to the website. and it will get to the bouquets to art baby site. and there's a -- art website. and there is a phone number there to get further information about the event. >> so art.org or.com? >>.com. we have floral designers from all over the country and all over the world who come and do floral design demonstrations, something like terry would do here, showing you exactly how to make it. and they're done in

i want to thank our sponsors and your partner, city national bank, golden gate university, a kaiser permanente a-- kaiser permanente. we wish you great success individually and collectively. we hope you have great prosperity in 2012. we will see you next year in san francisco. >> i should not be on stage. when you should be seeing -- i am used to the stage but not. that is who should be on stage. i am an animator. i am with picks are animation studios. in some ways, i felt comfortable being on stayed behind my computer. it is weird for me to be on the microphone. i have a lot of work to do but i am here to explain that, i'll come to that later. i wanted knowledge some of our special guests this morning. first off, i have some flashcards. how wanted acknowledged and the asian art museum director jay tsu. when i think of jay hsu, i think, aka dr. j. he is master of the universe. also, i never thought had -- would have the opportunity to introduce the mayor of san francisco, mayor ed lee. i just a to introduce the mayor. that is awesome. we also have a bunch of other special guests today. i would

i want to thank our sponsors and your partner, city national bank, golden gate university, a kaiser permanente a-- kaiser permanente. we wish you great success individually and collectively. we hope you have great prosperity in 2012. we will see you next year in san francisco. >> feel like it really is a community. they are not the same thing, but it really does feel like there's that kind of a five. everybody is there to enjoy a literary reading. >> the best lit in san francisco. friendly, free, and you might get fed. ♪ [applause] >> this san francisco ryther created the radar reading series in 2003. she was inspired when she first moved to this city in the early 1990's and discover the wild west atmosphere of open mi it's ic in the mission. >> although there were these open mics every night of the week, they were super macho. people writing poems about being jerks. beatty their chest onstage. >> she was energized by the scene and proved up with other girls who wanted their voices to be heard. touring the country and sharing gen-x 7 as a. her mainstream reputation grew with her novel

i want to thank our sponsors and your partner, city national bank, golden gate university, a kaiser permanente a-- kaiser permanente. we wish you great success individually and collectively. we hope you have great prosperity in 2012. we will see you next year in san francisco. >> this is one of the museum's longest art interest groups. it was founded by art lovers who wanted the museum to reflect new directions in contemporary art. it has been focused on artists in this region with an eye toward emerging artists. ♪ it is often at the early stage of their career, often the first major presentation of their work in a museum. it is very competitive. only a few artists per year receive the award. it is to showcase their work to have a gallery and publication dedicated to their work. ♪ i have been working with them on the last two years on the award and the exhibitions. the book looks at the full scope of the awards they have sponsored. ♪ it has been important to understand the different shifts within the award program and how that is nearing what else is going on in the bay area. -- how that is mi

. >>> most banks are in good shape to survive another financial meltdown. citi group, one of the nation's biggest banks, is said to need more capital. >>> there are still nearly four applicants for every job opening. workers don't have a whole lot of bargaining power. the result is wages with stagnant, rising less than the rate of inflation last year alone. >>> a class action lawsuit says apple should be sorry about siri. a brooklyn man's lawsuit says it is not as smart as apple implied. the ads for the 4-s do now carry disclaimers. >>> the encyclopedia britain ka says after all this time, they'll no longer publish a boxed set. the last edition was 32 volumes, weighed 129 pounds and cost $1400. one-third of those are sitting in a warehouse gathering dust. >> we didn't have the internet. >>> coming up next on this wednesday, a michigan boy's survival story. how he was saved after being buried alive. >>> and the incredible behind-the-head shot from a full court away. we're right back on "america this morning." i've been growing oranges my whole life, ever since i can remember. my name is pa

bank. looking at what's in store for shareholders. >> reporter: one day after getting snubbed by the federal reserve, citi shareholders are perplexed. the fed says the nation's third largest bank isn't worthy of an invitation to the big bank party, yet citi says its capital levels are strong and it would've passed the fed's dreamed-up doomsday scenario if it hadn't asked permission to up its dividend. still, it's hard to say what's worse for citi: no tasty dividend or no invite to the fed's exclusive party? but some analysts say investors should not worry; the bank led by c.e.o. vikram pandit is in good hands. >> i think pandit put forth a sound strategy, a more focused strategy than citigroup had in the past, and i think he's on the right track. i don't think this 0.10% below the regulator's guidelines is really cause for concern. >> reporter: investors have good reason to be concerned. citi was one of the most damaged firms during the financial crisis, desperately in need of government bailouts. and even though the bank has clawed its way back, a fed- approved dividend would be the stamp of approval shareholders have been waiting for. 2012 has been a decen

nation's largest banks passed the test. wells fargo and bank of america all passed the test while citi, met life, allied financial and sun trust did not pass the test. they fouled. the industrial average closed above 13,000. the nasdaq finished above 3,000. its all-time high is 5,000. that was thursday, the first time ever all of the index traded above those numbers at once. >>> the federal reserves open market committee met on tuesday and took no action on interest rates, but gave its view of the economy a modest upgrade. the january numbers will also revise upward to .6 of a percent. retail sales always important because the consumer is about 70% of america's economy. how important are the market numbers? and is it time to jump in on equities. joining me now, david kelly. and david gardener, cofounder of the motley fool. gentleman, it's good to see you. thanks so much for joining us. >> we saw major market zones this week. the s&p 500 as 1400. and the feds slightly upgrading its view of the economy. do you think we continue to climb here? what is the significance of those round numbers, if you will. >> well, i think the sign

cities in the nation for people!k look at you! texting...blogging... all this technology, but you're still banking like pilgrims!g at capital one bank. why earn bupkis, when your checking could earn five times the national average!! and free atms anywhere. five times the national average!!! that's new school banking. sign up for high yield free checking at a capital one bank. what's in your wallet? somebody help me down. >> going to try to get outside tomorrow. >> near 70 degrees.

citi national. he is in charge of the investment advisory group and has been with the bank since 2003. they provide custom portfolio management and expertise in investment to individuals, firms, and municipalities. he's been managing investment portfolios for more than 30 years, focusing on mutual funds in particular of high net worth individuals, and the authors the bank's weekly economic reports and commentary. please welcome paul single. [applause] >> good morning, all. it is a great turnout did. it is great to see you all. it is an honor to be here with both of you. i would like to spend a little time here today talking about what is going on in the global economy, what are some investment opportunities, and some of the risks out there for a lot of people in terms of how they are looking at their investment portfolio. quickly, the united states economy is gaining momentum. it is on a nice, a ford trajectory. last quarter put the gdp number was the strongest of the last year, and it looks like that will continue to do better going forward. a couple of other things that are of concer

national mortgage settlement. she appointed cathryn porter. she will ensure the banks honor their promise its to homeowners and borrowers. >> the city of walnut creek will consider putting up new speed signs to help deal with traffic. they would be put up on walnut. they will display speed and warn about delays and accidents. the transportation commission will vote on this next thursday, the council will then have to approve it. >>> tiger mom is on the cover of news week. she made waves last year after her book was published. the new news week cover story is about her and three other women who all becameself made millionaires >> time is running out on san francisco's pilot parking program. the balancing act between finding a spot and how much it'll cost you. >> and people talking about the chance of snow here in the bay area this weekend. the key ingredient that's fading from the forecast. . >>> that sound is ammunition exploding. it was stored inside a house in napa. officials say the alarm home on mustang road was on fire when crew as lived just before continue last night. a man was asleep inside but smoke detectors alerted him to get out.

in housing prices. 15 of the nation's largest banks passed the test including jpmorgan chase which raised its def dind. bank of america and wells fargo passed the test. citi and sun trust and met life failed. it was a week of momentous milestones. the dow closed above 13,000. the nasdaq finished above 3,000. the all time high is 5,000. later this the week the s&p topped 1400 that was thursday. the first time ever all of the indeck traded above those numbers at once. >>> the federal reserve's open market committee met on tuesday and took no action on interest rates but gave its view of the economy a modest upgrade. americans are still shopping. retail sales had the best gain in five months. climbing 1.1% for the month of february. the numbers were up 6/10 of a%. auto sales helped to contribute to the strong numbers. retail sales are important because the consumer is 70% of america's economy. how important are the market numbers we are seeing this week? is it time to jump in on equities. joining me is david kelly, chief market strategist with jpmorgan funds and -- from the the motley fool website. >> david kelly, we saw major milestones this week. the dow p

. >> 6:21, the bay area city trying to protect homeowners in danger of foreclosure and what it's asking one of nation's largest banks>> rolling off assembly line, the latest electric car being produced in the bayeaar. aarea. >>> a crisis over something called rare earth. we'll take a look coming up. ♪ beth! hi! looking good. you've lost some weight. thanks. you noticed. these clothes are too big, so i'm donating them. how'd you do it? eating right -- whole grain. [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multi-grain cheerios -- 5 whole grains, 110 calories. creamy, dreamy peanut butter taste in a tempting new cereal. mmm! [ female announcer ] new multi-grain cheerios peanut butter. >>> welcome back on this tuesday morning, making san francisco more bike friendly is the goal of a proposal before the board of supervisors today. the new law would require owners of commercial buildings to accommodate bicyclists, letting tenants bring bikes into the buildings and provide security bike parking outside. the aim is to get people out of their cars and on to bikes up in s

nation's third biggest bank failed the stress test. and today, noted bank analyst meredith whitney says she thinks most of the major banks are overvalued, except, that is for citi bartiromo that citi has no earnings power and likened to an old victorian house you have to keep fixing up. in other words, a money pit. she's been bearish on citi for a while now. and the stress test results are the latest black eye for the bank. take a listen. >> citi failing is not a huge deal. it's reflective of the fact that someone gave them really bad advice in terms of what to go to the fed with on this stress test. but i don't think, you know, it doesn't change the game. citi hasn't been investable in four years. >> what would it take for you to invest in citi? >> a new brain. >> a new brain. okay. that plus the headlines of the last couple of days helped push citi shares down about 3% although that's after a pretty strong run, up something like 40% this year. that tells you a lot about what where they ended this year. >> meredith whitney and her credibility. a lot of people are going to say she way, way overstated her bearishness a couple of years ago on banks and she was so

bank. no nonsense. just people sense. [ male announcer ] from our nation's networks... ♪ ...to our city streets... ♪ ...ut! [ male announcer ] ...without their even knowing it. that's the value of performance. northrop grumman. >>> 53 minutes past the hour. time to check the stories making news this morning. here's christine romans. >> good morning, ladies. firefighters in colorado hope calmer winds will help them get an upper hand on a wildfire that's killed at least two people and torched 23 structures so far. one person who lives in the area where the fire's been raging is still missing this morning. >>> newt gingrich's white house bid may be nearing its final hours. the former house speaker has laid off one-third of his staff. he is canceling campaign appearances, all fueling speculation that newt gingrich may be preparing to quit this race. >>> a los angeles basketball legend coming to the rescue of the city's baseball team. a group led by lakers' great magic johnson has agreed to pay $2 billion to buy the l.a. dodgers from frank mccourt, who bought the team in 2004, eventually drove it into bankru

cities. siemens. answers. texting...blogging... all this technology, but you're still banking like pilgrims! get high yield free checking at capital one bank. why earn bupkis, when your checking could earn five times the nationalverage!! and free atms anywhere. five times the national average!!! that's new school banking. sign up for high yield free checking at a capital one bank. what's in your wallet? somebody help me down. >>> good morning. weather & traffic on the 1s. good morningality 5:41 -- good morning at 5:41. it is frigid. the calendar says march 6, but it feels more like february 6. look at the windchills from seat pleasant to riverdale, reston, franconia, foggy bottom, and sandy spring. all around our region. we have windchills in the low to mid 20s. temperatures right now that are right in the low to mid 20s to the teens. out of the mountains teens now. 32 at reagan national, near the bay and the tidal president obama. -- tidal potomac. cool in the region thanks to a large area of high pressure that's been pushing in since yesterday's snow, bringing plenty of sunshine for the day. sunrise at 6:32. we'll be making it to the 40s by noontime. lots of sun, near 50 by afternoon. the evening planner, ch

bank supported almost 290,000 american jobs. these are jobs in cities and towns across the nation, with large companies as well as small businessesed more than $6 billion in exports by small businesses, the engines of economic growth. in my home state of south dakota, ex-im has worked with large and small businesses to help export goods all over the world. in the last five years alone, it has helped support over $20 million worth of export sales. this support has been critical to many companies in my state as they want to expand their customer base. more importantly, ex-im financing has helped support good-paying american jobs in south dakota, something that we need to make sure there are more of. i believe that while the bank is doing a good job, it can and must do more. i believe this legislation will help the bank reach that goal. this measure was a bipartisan effort by the senate banking committee, and i thank senator shelby for his support. in addition, i thank senator warner, senator bennet and senator hagan for their important input into this legislation. the bank's current authorization expires on may 30, 2012, in just tw

doe nations have been pouring in including a $1,000 from the petaluma police officers' association. >>> today is the deadline for the city of stockton to respond to wells fargo bank on a missed pom bond payment of -- on a missed bond payment of $800,000. wells fargo is suing the city. the stockton city council voted december 28th to default on the $2 million payments to try to work with creditors to avoid bankruptcies. stockton's mayer says the city will respond to the complaint from wells fargo. >>> two neglected ponies are in the care of a humane society in placer county. >> this is the absolute worst case that i have ever seen in all of those years. >> the ponies' hooves were 7 inches, that's really lock, when the humane seat -- relig long, when the human society removed them. the humane society says they were concerned. >> the communication between us was not good. some wanted to beat me up when i was there before. >> vets are trying to nurse the animals back to health but there's no guarantee. they have a right to request a hearing of the legality of the hearing. >> than do make some so angry -- doesn't that make some so angry about -- >> oh. absolutely. >>

federal reserve says most of the nation's largest banks passed a so-called stress test that also said the economy is recovering. >>> you can't fight cityy not be able to go to the bathroom there either. a toilet paper shortage. the health department says paper supplies at 11 buildings, including city hall, are dangerously low because of a budget battle. >>> talk about tough love. after her 13-year-old daughter was caught shoplifting a louisiana mom made her wear a green t-shirt saying hide your money, hide your clothes, hide everything because i'm a thief. he wants her seventh grader to know the embarrassment she felt. i don't know, guys. what do you think? >> it's the second time this week that i've heard a story where a parent tries to do the public shame og of child for some kind of infraction like that. criminal infraction. >> i feel bad for the child but i so relate to the mom. you really embarrassed me, what do you do? >> i don't know where i fall on this one because i do think sometimes kids need tough love but i'm not sure about the shaming part. >> she was embarrassed about the shoplifting now even more people know about the s

banks failed. thank you very much. down 2%. that list included citigroup, the nation's third largest group. nice to have you here. >> thank you. >> let's start off with citih in terms of 4.9% versus 5% capital cushion on the worst stressed scenarios. stocks down, they are not able to return capital. >> correct. as we pointed out, 18-19 banks did pass the test. to your point, three did not get capital allocational approval. i think part of the reason is citi is so global. i think the loss assumptions they use, the fed for some of their international areas were greater than expected. we fully expect citi to reapply as they are permitted to do and will get approval later this year. >> down 2%. is this an opportunity stock at 35 .66? >> we think it's a great opportunity. business is turning around for citi as well as other banks in the u.s. >> how bad is it for panda? >> this is a negative surprise. he'll weather the storm. he's done a good job turning citi around in this environment. he's overshadowed by jamie dimon and jpmorgan. >> stock up 7%. some would have said wow, didn't realize they had that much in there. does it have more to go? the stock has been

bank examiners worked with us very well. we've seen significant loan growth. we've seen loan growth on our portfolio for almost two years now because we've had the run off for national cityth courteders of last year, we saw meaningful up ticks. 6% in the fourth quarter. and that long growth is continuing in the first quarter. i think while housing is not coming back and that will be a while yet, i think the basic american business, even small buzz applications are up 26%. sfwl what are your worried about most? what are the things keeping you up and saying this could wreck this nice train of mine right now? >> well, dod doesn't impact us as much as it does the large banks, the very large banks. i think for us, i think the issues are around bosell and how some of the interpretations of some investment grade securities and things like that come out. so i think the dod frank issue is more about costs. the volta rule doesn't really impact us much. >> how many people have you had to hire for compliance so far? >> we don't keep track of that. but we're doing a lot of extra work. there's no question. with 300 rulings and a hundred studies and we're just getting under way. >> in

i want to thank our sponsors and your partner, city national bank, golden gate university, a kaiser permanente a-- kaiser permanente. we wish you great success individually and collectively. we hope you have great prosperity in 2012. we will see you next year in san francisco. gentlemen, the