for example on the domestic side, where sequestration would cut r&d to its lowest level since 2002, adjusted for inflation, the budget supports cutting-edge research like precision medicine, efforts to combat antibiotic resistance and the brain initiative, which is helping to revolutionize our understanding of the human brain. likewise, rather than cutting inflation adjusted national security funding to the lowest level since 2006, the budget makes responsible investments to protect our national security, restoring readiness, and the investment in modernization needed to ensure america's continued technological edge. i want to emphasize that every investment in the budget including both the discretionary investments made possible by reversing sequestration, and mandatory and tax changes are more than paid for through spending or tax reforms. for example the budget would provide new and expanded tax credits for middle class families and would more than pay for these investments by reforming capital gains taxation, and making it more costly for the biggest financial firms to finance their acti

it uses an advantageous tax structure to buy companies and then cuts r&d costs to boost profits. charlie ergen will become the ceo in march. he is replacing joseph, who is retiring. dish lost 79,000 pay-tv subscribers last year. what's it do with $50 billion worth of wireless airwaves he has bought. he contacted deutsche telekom last year in buying t-mobile. the owner of the olive garden chain. it is the interim ceo promoted from chief operating officer in october. he will be in charge. the oscars went to bird man. the move destined movie about a washed up superhero 14 oh -- academy awards, including best picture. patricia one best supporting actress for the movie "boyhood." she used the opportunity to call for equal pay for women. >> to every taxpayer and citizen of this nation we have fought for everybody else's equal rights. it is our time to have wage equality once and for all and equal rights for women in the united states of america. [applause] >> last year, e-mails stolen by hacker indicated sony pictures paid female stars less a month. i will speak and get thoughts on the

it buys companies and then cut r&d cost to boost profits. botox. >> tom has no gross feet -- crows feet. >> "birdman" was the big winner. it is about a washed up actor -- it won 4 oscars including best picture of mr. rector. another winner, julianna moore one for best actress in her role in the movie "still alice." which i did not see, but i heard was wrenching. >> thank you so much. i read an article that said winning an oscar could lead to living five years longer. if that is true, i would really like to thank the academy because my husband is younger than me. >> julianna moore and the celebration last night. the best actor award went to -- >> 80 redmayne -- eddie redmayne. >> he pretrade stephen hawking in "the theory of everything." the euro plunges as we speak, down to 112.97. that is without question the number one thing to watch with what is going on in ukraine, particularly, greece. oil dropping like a rock as well. 50 all of the sudden, 49.83. let's move on, if we can. a good tone in the equity markets. the wrubel finally goes with

it r&d costs to boost profits. a pay cut for the ceo of british bank hsbc, which has been hit by lower profits and a tax evasion scandal. his competition has been cut 5% to 12 million. the bank is still dealing with fallout from report on how it handled accounts for texas raiders and criminals. there is no a permanent ceo of darden restaurants. the owner of the olive garden chain. he will be in charge of efforts set up by starwood capital. the oscar went to a birdman. the movie about a washed up superhero won for best picture and best director. patricia arquette, who won best supporting actress, use the opportunity to call for equal pay for women. patricia: to every taxpayer and citizen of this nation, we have fought for everybody else's equal rights. it is our time to have wage equality once and for all, and equal rights for women in the united states of america. alix: late last year emails stolen by hackers indicated that sony pictures paid phenyl stars less than men. i've a five-month-old and i do not watch any movie sett

the drugmaker is known for taking advantage and acquiring small to midsize companies and then cutting r costs to boost profit. the former u.k. secretary has suspended himself as a member of parliament after the daily telegraph newspaper alleged he made offers in exchange for thousands of pounds. and there was another foreign secretary with hidden cameras, talking about it. both have been referred to a commission of standards, and a full investigation could take months. and just a reminder market in athens are closed today for a bank holiday. the first day of the eastern orthodox his chin length. >> join the conversation on twitter. i have actually tweeted. and to be fair, i did tweet about hsbc. >> i have tweeted another headline, another hsbc tax story. does that sound like dÉjÀ vu? >> and "birdman" win best picture. >> can the greek prime minister have a plan that satisfies both creditors and can to it estimate that is next on countdown. ♪ ♪ >> it is time for the new greek government to approve their latest reforms while simultaneously hoping to keep the faith of the electorate who vo

for example on the domestic side where sequestration would cut r & d to nearly its lowest level since 2002 adjusted for inflation, the budget supports cutting edge research like precision medicine efforts to combat antibiotic resistance and the brain initiative which is helping to revolutionize our understanding of the human brain. likewise, rather than cutting inflation adjusted national security funding to the lowest level since 2006, the budget makes responsible investments to protect our national security restoring readiness and the investment in modernization needed to ensure america's needed technological edge. i want to emphasize that every investment in the budget, including both discretionary investments made possible by reversing sequestration and mandatory and tax changes are more than paid for through spending and tax reforms. for example, the budget would provide new and expanded tax credits for middle class families and would more than pay for these investments by reforming capital gains taxation and making it more costly for the biggest financial firms to finance their

for example, on the domestic side, where sequestration would cut r&d to its lowest level since 2002, usted for inflation, it supports cutting edge research -- and the brain initiative, which is helping to revolutionize our understanding of the human brain. likewise, rather than cutting inflation adjusted national security funding to the lowest level since 2006 the budget makes responsible investments to protect our national security restoring readiness and the investment in modernization needed to ensure america's continued technological edge. i want to emphasize that every investment in the budget including both the discretionary investments made possible by reversing sequestration and mandatory and tax changes are more than paid for through spending or tax reforms. for example, the budget would provide new and expanded tax credits for middle class families and would more than pay for these investments by reforming capital gains taxation and making it more costly for the biggest financial firms to finance their activities with excessive borrowing. uses one-time beverage rues from pro

i understand your company cuts r&d and why margins might be better.y that these other companies weren't in terms of just selling this stuff? >> i can't speak to what they were doing, but what we have is a great group of people. we're decentralized, so for example, we have someone in charge of our dermatology business, deb shoren. she's a terrific marketer and came up with the jublia ad campaign. we have someone else focusing on our contact lens business mark mckenna. he and his team are -- i think this decentralized approach of having entrepreneurial focused hard working people that are very bright and creative driving each of these businesses, and not a centralized approach really unleashes energy. >> and you've obviously followed a somewhat iconoclastic path in terms of the way you've managed this company. we've discussed it in the past. your approach to r&d which is spent willy nilly and not in a focused way. are more people going to approach this the way you do? >> who knows? >> are you surprised they haven't? >> well, we really do believe in inno

now, with this acquisition of symptom medicines, the company can expects to save $500 million in r and d cut backs. they think they can close the deal in six months. it's all cash and the money saved will hit this err 82's bottom line. the street was looking for it to earn $10 a share, and i think it can earn $12. sales are doing well after an inventory glitch that hurt them back in thof. that caused a big discount to the stock and that is one of the reasons they got it cheaply. the ceo of michael pearson feels confident that they will be scrubbed clean. they have an advantage tax structure that magnifies earnings the way american companies can get disproportional returns. they are build on deals. some would say that slashing r and d. i am kind of mesmerized here. break -- this has been the hottest drug company in the business. the stock went out at $200 today. and i think this could trade to 240 from here. especially if they get that drug approved. approved approved 240, it's not a pipe dream. it could be realty. let's go to joseph. >> caller: thank you for all you do for us and also your s

as we talked about before when it wasn't easy when pfizer came out and said they were going to cut their r going to do that. that was not well received at the time from the street. but i think six new products in 2015 speaks for telephone. >> what is the eventual size of that market do you think? >> oh gosh lots of people are trying to predict that. that's not really my job anymore. people are talking about certainly 5le to $10 billion. >> unbelievable. >> it's very exciting. and pfizer just got approval for pembro for a drug for breast cancer. i's a very exciting time no question. >> all right barbara. a quick snapshot of merck. thanks. >>> when we return foursquare ceo joins us to discuss his vision of the social app company and how he's looking to take on wealth. we'll see if he's checked in here on foursquare. we'll take a break. the dow set to open about 38 points off. nasdaq off about 15 points and the s&p 500 down about 6 points. back in a moment. financial noise financial noise financial noise ♪ >>> welcome back to "squawk box." take a look at some stocks to watch this more than. k

. >> biology to go to college r they still cutting up frogs? are they still doing that in biology? >> they do, but you can opt out. >> i dissect add could you cows eye when i was in biology. >> what? >> good morning, everybody, by the way, national weather person day. we love our sue serio. >> oh, yes yes. >> so show some love to sue on facebook twitter instagram. not sure how you are supposed to show your love. but -- >> you can tweet t that's how you snow. >> that's right. >> i love you. >> show us with words love. >> that's right, that's right. well, and it has been nice. see falling temperatures after the snow showers are out of here if you get them at all. it will be kind of half and half kind of day. morning commute will be completely different than the evening commute. we'll have high winds and lower temperatures, this afternoon. sort of the opposite of what it usually does, so here comes the snow. berks county, lancaster lehigh valley, poconos edging into bucks and montgomery counties as well. it is 38 degrees, but feels like 33 7:05, is your sunrise time. so temperatures w

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me, he was 6'4" sew would be 6'6" and $20,000 armani suit and $900 hermes shirt and $800 air cut and holding a r4 because he was a swinging deadly dude. george washington here day would look like money because he was money. he understood the power of the image. that's who george washington is. if he were standing here today he wouldn't be dressed like that. he would be dressed in a $20,000 suit. and i thought to myself how do we get this idea acrossed to young people? because the people who knew him wanted him to be king. they fought an entire war against kings and the first thing they wanted him to is make him king because he was so overwhelmingly glamourous and interesting and sexy and cool. he was every sing celebrity you know today rolled into one and founder of the nation. they wanted him to be king. they wanted to refer to him as his excellency. he said no, you'll call me mr. president. we're all heequals here. when young people hear this the whole thing becomes new again. george washington with an $800 haircut is accessible in a way that an old guy in a powder hat isn't. and you can do it

me, he was 6'4" sew would be 6'6" and $20,000 armani suit and $900 hermes shirt and $800 air cut and holding a ruse he was a swinging deadly dude. george washington here day would look like money because he was money. he understood the power of the image. that's who george washington is. if he were standing here today he wouldn't be dressed like that. he would be dressed in a $20,000 suit. and i thought to myself how do we get this idea acrossed to young people? because the people who knew him wanted him to be king. they fought an entire war against kings and the first thing they wanted him to is make him king because he was so overwhelmingly glamourous and interesting and sexy and cool. he was every sing celebrity you know today rolled into one and founder of the nation. they wanted him to be king. they wanted to refer to him as his excellency. he said no, you'll call me mr. president. we're all heequals here. when young people hear this the whole thing becomes new again. george washington with an $800 haircut is accessible in a way that an old guy in a powder hat isn't. and you can do it for a

and the part we cut out he is saying february as a joke. everyone knows the first "r" is silent. this is kind of funny and cute, but they i edited it nicely. i don't think our enemies are going to think the same. >> do you think they will use this to their advantage? >> i don't think they are going to think we have a very strong president after watching this. >> andy, you have your finger on the pulse of youth culture. you know everything about the internet. if this is what it takes to reach mill 11 y'alls. mill -- millenials. >> i know we joke about reasons for president obama to be impeached. the president made a gun with s hand and pretended to shoot it. kids are getting suspended from school for doing that. >> that's true. >> i think it is outrageous he would make light of gun violence and show such disrespect to the victims of gun violence and their families. i believe he owes them an apology. i think the president has something in common with brian williams. i think he would rather be hosting "the tonight show" than doing his current job. >> think about what he will do. he

bankruptcy court judge is holding a hearing whether a ac r energy partners can stop providing electricity, heat and water because of unpaid debts. company will cut off services a at 5:00 unless they get assurances it will be paid. >>> the cbs-3 i team has learned two philadelphia police officers are expected to surrender on criminal charges. the sources say that the officers allegedly used excessive force to arrest a man. he was chased by the two office are and arrested in an alley. sources say at alleged assault was caught on camera. right now police and prosecutors are declining to comment. more details are expected to be announced later on today. >>> a suspect is behind bars accused of shooting at a police officer when they tried to arrest him in kensington. chopper three over gerney and somerset just after 6:00. police tell us they were chasing the suspect when he fired at one of those officers. that officer return fire but did not hit the suspect. he was taken in custody, no injuries were reported. >>> police say no charges are expect to be filed against a 67 year-old man who shot and killed a would be robber in the delaware county park. >>

r -- 911. it was really going ant 2:00 in the morning and the fire was raging through a hole in the roof. firefighters cut that hole to put it out. they found something up usual when they got here. an open door to the cafeteria. also broken windows. the end of this three day holiday weekend. >> again a school cafeteria on fire at 2:00 in the morning and an open door is unusual. >> reporter: there's only damage to the cafeteria. so no other damage to any other buildings. and no word on what caused this fire. we're wait -- keeping in touch with fire investigators to see if they have any other leads. we're live in oakland, i'm ryan takeo, kpix 5. >>> motorists acted in alameda pulling a woman to safety from a crash scene just outside the webster street tube. accident happened around 6:15 last night forcing closure of the tube. for more than an hour. car rear ended and then flipped on its side and trapped a woman inside the car. another driver not involved in the accident got out of her car and helped out. she now has minor injuries. >>> investigators are looking into what caused a fire aboard a ship at the p

time that congress overhaul social security they raise taxes, cut benefits delayed the age for receiving full benefits. they set the system for rating more money and it created a surplus. this money was built up over time in preparation for the baby boomers, who are aging and at retirement or near retirement now. the way the system was set up was this trust fund would grow and that it would start shrinking. the retirement fund is still going a little bit, mainly on interests. the disability program is shrinking. the action started to pay out more in benefits than they took in into the five. right now, currently there is about 2.7 trillion dollars in the combined trust fund. about 90 billion outside his disability. you can see how much larger the retirement program is. two point $7 trillion. how does that work? what is that money go? that money comes into the treasury and they invested in treasury bonds. it seems like a fairly reasonable thing to do. i've often referred to this as the retirement of an entire generation. treasury bonds to be the most safe investment that there is. the rest the government has been running deficit

cut in interest rates. ericsson you'll note, one of the builders i was going to say insurers there, the other thing, good earnings in europe. credit suisse has rocketed today. up 9%. renault, and so the focus turns, of course, to greece. and today it was the leader summit. 28 heads of state from across the european union, not just the eurozone, the prime minister in the middle, his chance to convince the group if you like to side with him against what the germans are asking for. see him meeting angela merkel. people are noting the change in tone that we had between the greeks and germans. it was confrontational. that doesn't look confrontational. that sort of mood muse you can making some people think monday is a possibility of getting a deal. the atmosphere appears to have changed. the greek banks have had a great session as you can see. reuters is reporting that the european central bank had a teleconference today to discuss emergency liquidity assistance. remember they changed the rules so they kind of forced them into this emergency liquidity, they could pull the plug but he won't for the time being. those stocks are doing well. it's the monday finance ministers

r & d or a range of other things. >> but do you agree with mr. mcclintock that a dollar spent by the government first came from an american taxpayer? >> absolutely. we're proposing tax cuts to 44 million middle class families. all of the spending that we're proposing increased spending is more than offset by cuts in other spending or cuts in wasteful spending in the tax code. >> but the debt is going to double under -- almost double under president obama's administration. >> under our proposed budget we would reduce deficits by $1.8 trillion in ten years compared to what we are expecting. >> not that. the federal debt was $10.6 trillion when president obama took office. today it is over $18 trillion. >> as the size of our economy -- >> but the fact is that it is only going up. and that the net interest, that's not something that we can change in our line items in our budget and say we're going to just pay less interest on our debt. >> but looking at nominal dollars without inflation -- let me just go back to one point that you made quickly. sequestration is actually a very small part of what has reduced our deficits. >> gentleman's time has expired. >> lower health care

> and this smashed audi r 8 is a result of one woman's reaction after discovering her husband was cheating on her. viral video shows the car windows smashed, the leather seats cuthat's the news. >>> disappointing delay in the 9-11 hearing at guantanamo bay. two accused conspirators stall the proceedings and now families who lost loved ones are calling it an embarrassment. >> catherine herridge just sat down with them and she's live at guantanamo bay with what they are saying now. good morning to you. >> reporter: good morning. a lot of these families come from all over the united states to sit in the military court and when they got there yesterday all they saw was 20 minutes of action which was extremely disappointing because they expected to hear a lot more about the 9-11 crime itself. not the complaints of the suspects. >> at this point we're going to start arguing whether or not the -- when he was being transferred, come on. it's convoluted and i don't see any -- >> the 9-11 suspects were first arraigned here at guantanamo bay back in 2008 under president bush. then a year later, attorney general eric holder announced they would go to civilian courts in low