been numerous neighborhood complaints over the years and these are licenses that will not be used by cva at the property or sold to another liquor retailer in the neighborhood, these will be results in the elimination of two beer and wine liquor sellers in the neighborhood that have been identified as problem retailers in the past, i want to thank lower poke neighbors had submitted a letter for this particular outcome, i want to note for our colleagues that the conditions that are proposed for this particular liquor license were heavily negotiated between my office and the neighborhood association, because of that, i ask my klaoeks -- colleagues to vote for this. >> the applicant has filed an application with abc seeking a type 20 for 1059 hyde street, for the purposes of this hearing, the abc seeks a determination pr the board of supervisors as the approval or denial of this liquor license, no police calls for service from july 2010 to july 2012, no record of police reports from august 2011 to august 2012, the application premises located in a high crime area, the applicant premises loc

. >> announcer: this portion of "cbs this morning" sponsored by cva pharmacy.very store every day at cvs pharmacy. so, when i shop -- i earn twice as much with double extrabucks rewards. that's two times the rewards! yeah, that's what double is. i know. i was agreeing with you. it's two times. act fast and sign up at cvs.com/doublebucks for double quarterly extrabucks rewards. don't miss getting double quarterly extrabucks rewards. i love 'em! are made with sweet cherries and the crisp, clean taste of our cranberries. i cannot tell a lie -- 'tis tasty. okay, george washington, did you take my truck out last night? 'tis tasty. twe asked real dads tors cput them to the test. can our diapers last through a long milk-induced slumber? see for yourself... how, only huggies diapers have leak lock for up to 12 hours of protection. >>> when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit

numbers are somewhat difficult to work through for the revenue number, for example, you always get these cvauations on derivatives, hedges, et cetera. that hurt revenue by $776 million. you've also got a $4.7 billion pre-tax loss on the sale of citi's 14% interest in morgan stanley smith barney and that totalled about as i said $4.7 billion. you add both of those back in to the revenue and go from $13.9 in revenue to $19.4. there was a tax benefit which is, of about in the third quarter of 2012 related to the resolution a certain tax audit items and that was $582 million, which needs to be taken out. so you take the other stuff in, take the other stuff out and get net income goes from 468 reported to 3.26 billion and you get the $1.06 a share, which is ten cents above expectations. >> and we heard from jpmorgan last week about what an uncertain environment it is, same sort of comments we're hearing from vicrum bandit, we're managing risk carefully so we can continue to grow our businesses safely and soundly. you heard it with wells fargo and more of the big banks last week including bank of

there's something called dva and also something called cva, it doesn't matter, those are movements basedcounting mumbo jumbo, basically. add it back in get $1.7 billion, that's up from last quarter. so a very solid result and effectively showing that morgan stanley's institutional securities business is up off the mat. there was some concerns last quarter because of noise around the moody's downgrade. that's what i want when i said this quarter was particularly encouraging. it shows that the franchise at morgan stanley's intact and still able to punch with its weight. >> finally, some discussion about compensation at the firm, gorman has said he's going to keep the costs in line, that appears to be happening. would you argue they are, if not leading the charge, at least at the front end of that movement on the street? >> well, they're one of the firms on the street. so firms tend to be price setters. but he's certainly been very prominent in making the point. i think when you think about where a lot of the pressure comes, it's come from shareholders. and you've heard increasing dissatisf