>> my name is dan kramer and i represent the west portal association. i represent the newest process. the notice was for two days and not for 10. this is a violation of the rule no. 7. that's initially the process. also we feel that the applicant did not provide complete information on the application which is a revocable issue. so, furthermore, it sounds like the police department believes that the permit shouldn't have been issued. there is many members of the public who agree with that and the applicant has left and indicated her decision to withdraw the permit. so, we respectfully request that you make a decision this evening on this matter. >> thank you. >> in the past when boards have been confronted with permit holders that don't show, boards have revoked the permit. we would issue a know show letter to them analyzed -- and they would have 10 days to request a rehearing. >> there has been a number of ways. but i need to say something madam president to the people in the audience and the appellant's representative. in the same way that you have ma

. >> you know, since you mentioned the press, i'd like to read a statement from dan kramer, who is s.a.c.'s attorney, we have attained here, saying the press speculates about a lot of things in this case, but one of the possibilities that the press does not engage in is the possibility that steve cohen did not do anything wrong. we believe the evidence will show he did nothing wrong. kayla, do you want to weigh in on this? obviously, as press, and you've been covering this story very closely, i'm sure you have a view. >> you know, mandy, it is interesting to get a statement like that from the lawyer for s.a.c. but what's more interesting is to look at the actual charges from the s.e.c. and see the exact dialogues that they're pointing to as indication that steve cohen directly supervised and directly engaged in some of these trades or failed to supervise some of the trades alongside many of these employees. and yet still chose to go with administrative charges and go with charges of failure to supervise, which is very interesting that they chose those lesser charges, even though they had

in a statement to cnbc friday, dan kramer, an attorney said, quote, the press speculates about a lot of things in this case, but one of the possibilities that the press doesn't engage in is the possibility that steve cohen didn't do anything wrong. we believe the evidence will show he did nothing wrong. the firm has until august 8th to formally respond. i'm told it will formally deny those allegations. the firm will also focus on retaining investor money and top trading talent in the meantime. the s.e.c. is seeking to ban him from investor money and being associated with an investment adviser. it will be tried in front of an s.e.c. if appealed, it goes to a commissioner. the type of proceeding that this is means that it's going to stay within the walls of the s.e.c., which is interesting. >> so i don't think this is toothless at all, joe. >> no? >> no. i think this is actually -- it's a lousy case in that it's not as strong as people had expected in terms of what kind of charge you'd bring. but the charge unto itself is actually pretty strong. if you go through the documents -- >> be

dan loeb's 3.40 million bought at 13.50, told at 29.11. total profit $624 million. a masterful trade. that's our own krim kramer put it.atching gold today. the metal shining, settling above the 50-day moving average for the first time since november 2012. miners are all responding, all well in the green. on the other hand, homebuilders not working. they fall unexpectedly by 1.2% month over month. analysts say it is certainly not a sign that the housing recovery is in trouble, but sales activity could come under pressure in the months ahead. they say dhi, lennar, pulte all lower. we're also keeping a close eye on microsoft. remember last friday, the stock got killed the day after the company posted disappointing results. the stock dropped 12%. today, though, moving higher. and we'll end on mcdonald's, the golden arches disappoint, saying full-year results will be challenged. some analysts i spoke to this morning were especially disappointed with the u.s., thought we would see traction here on product innovations. now analysts saying it raises questions about how successful its efforts have been. bill, back to you. >> ye