. >> supervisor david chu is planning to seek wide but not tuareg stege store with the city. >>> the san francisco school board talking about clothing today. a school board economy is i didn't wanted to continue updating the district's dress and parent's standards: the issue was released by matt heene. one specific item he wants to aaddress is a ban on hats or head coverage. >>> disturbing new information at 5:45 on what may have caused the south korean ferry disaster. documents related to the cargo. >> and the big top. what happened when the holding of the acrobats fell. coming up. ,,,, [♪] tokyo on sunday. this surveillance camera capturee shaking. it went on for a full 20 seconds. the 5-point-8 magnitude quake w felt across a wide area. a few minor injuries were reported -- my from falls. but there was no major damage. the passenger ferry that sa off south korea and dangero overloaded, and not for the first time... new documents reveal the coy was ordered a year ago to ld less cargo. but the ferry w carrying nearly four times its limitn it sank last month. three cargo handlers hav

. >> you have david chu who is an asian-american. how is that work out? >> it's fascinating. that was conventional wisdom is they had their basis. the asian base and david would have the progressives. he would have the latino vote and the lgbt. the lgbt vote turns out to be thin. there's a much more moderate group of lgbt people in san francisco than you realize. they are homeowners. they have been here for years. that are in committed relationships and they have families. i think that's one of the i thinks that campos has seen. we've got to push him. >> i don't want to leave this discussion without touching on proposition b. that allows voter approval of any building exceeding height limits. there seems to be a lot of public support. where is this going? >> it's a popular idea. this is the group with no wall on the water front. it's a great motto of let the people decide. it's great. there are some far reaching consequences. over 75% is zoned for 40 feet high. the planning department says 40 feet will not cut it. you can't make the nut on what your plans are. what it means is

. >> you have david chu who is an asian-american. how is that work out? >> it's fascinating. that was conventional wisdom is they had their basis. the asian base and david would have the progressives. he would have the latino vote and the lgbt. the lgbt vote turns out to be thin. there's a much more moderate group of lgbt people in san francisco than you realize. they are homeowners. they have been here for years. that are in committed relationships and they have families. i think that's one of the i thinks that campos has seen. we've got to push him. >> i don't want to leave this discussion without touching on proposition b. that allows voter approval of any building exceeding height limits. there seems to be a lot of public support. where is this going? >> it's a popular idea. this is the group with no wall on the water front. it's a great motto of let the people decide. it's great. there are some far reaching consequences. over 75% is zoned for 40 feet high. the planning department says 40 feet will not cut it. you can't make the nut on what your plans are. what it means is

three, sort of well-known, doug, calvin welch, doug charleston and the board of supervisors and david chu. what is the difference between those propels and are they trying to more or less accomplish the same thing? >> no, they are actually very opposite. on the surface, they have some similarities but where david's legislation would legalize and create a frame work for listings to continue. the proposed ballot initiative would make them impossible to operate, so that it would be reduced to a small hand full. they create a system for registry than anybody that wanted to rent out would need to register with the city. the chu legislation would make that somewhat private and information would be available under public records acts request. the ballot initiative would make it totally public. both would call for air b and b to collect and remit the 14% hotel tax, which the company said it will do this summer, two years, i might note after the san francisco treasurer said it should do so. but, there are a number of places they diverge. it creates a bounty hunter system and could report somebody

david chu was supposedly working on this two years ago.we never saw - >> was the city not enforcing its own laws? >> the city not enforcing the laws. we looked at three of the three top short term rental sites in the country. we found nearly 10,000 units available for shortterm rentals in san francisco. >> what is wrong with shortterm rentals? >> it deprives the city of needed affordable housing at a time when we're facing the worst housing crisis. >> if someone rents outs their home for a weekend or an apartment for a weekend while they are away how does it affect the housing market? >> that's not what we're seeing. we're seeing landlords renting multiple units full time. in fact becoming de facto motels or hotels. >> yes, that's what the city attorney is suing them over. we have tenants renting four and five units with the sole purpose of listing them for short term rentals. neighbors are complaining about transients coming through all the time not respecting the property. landlords are losing their insurance when the companies find out

when david tepper speaks, the market listens, for "nightly business report," i'm dominic chu. >>> and as stocks fell, so did the ten-year treasury notes now below 2 and a half percent, a seven-month low, so what is driving the bonds lower and will they drop even further. steve liesman has more. >> reporter: funny thing happened on the way to the year that interest rates were supposed to march higher. they went lower, much lower, some are doing an about-face so they can keep going down from here. the cycle below 2 and a half percent for much of the day, a place it has not been since 2013, and some think the rates could fall further. it was the economy, first, with a strong improvement in jobless claims offset by weaker manufacturing report. the housing data, meanwhile, continues to be weak. the upshot the economy might have contracted in the first quarter, while looking for a decent rebound in the second quarter, the first quarter expected to be a small 1.6%, mostly it was a bet on smaller growth this year and higher under-pinning for higher rates. second, central banks are still easy

chu naming names. what do we mean here? they're injures selling at high p.e.s? >> they're selling at high p.e. david einhorn made allusions to this. we talked about smell names in the amazons, the netflix, here's three names, they're larger cap names, but ones you may not have heard of in terms of the bubble talk. bushelitiousness. >> here's the first one, tyler. this is a mystery chart, october? this particular company has a price to earnings ratio of 351. this is a hollywood company, but it's not netflix, and it deals with original content on the animation side. it is a studio. i will give you that much. it looks a bit -- >> how to train a dragon? is it dreamworks? >> it is dreamworks. >> the chart looks a bit like batman's headdress right there. so dreamworks one of those companies that some investors may think of as bubblicious. >> you think? >> here's another one. this company has a pretty decent up side. and just as art said. some are moving out of growth into value stocks. this company deals more for certainly parts of the market 1,237 times earnings. >> that's a little stretch. >> it could b

david. >> thank you for having me on. i appreciate it. >>> thank you very much. >>> let's go back up to e.c., dom any chu has a market flash. >> check out what's happening with astrazeneca, when the company rejected pfizer's latest and last offer of $118 billion. today the company's 12th biggest shareholder, schroeder's voiced its disapproval, urging the company to get back to the bargaining table, but fidelity disagrees, so even the shareholders senior divided on this particular deal. you can see they're you will about 2% on the day. back over to you. >> he was at the table during nearly every key negotiation at the height of the financial crisis. michelle caruso-cabrera getting a rare interview with the biggest name in private equity. >> chris flowers is his name. he made a lot of money in japan. what he said today about japan was, frankly not so encouraging. we're going to tell you what he said about this popular market, and also talk about emerging signs in the eurozone about whether that crisis could be coming back. more "power lunch" in two minutes. >>> welcome back to "power lunch." we want to draw your attention to what's happen

. >> dominic chu checks out tepper a's track roar. >> why the fuss over david tepper's comments? he has the history of making some of these mark-moving type calls. rewind back to september of 2010. tepper said the fed's stimulus program is a signal to get aggressively long in the markets. take a listen. >> the fed's going to come in with qe. then what's going to do well? everything in the near term. everything. what do i do? i got to buy. i can't take the chance of not being a little bit longer now. that doesn't mean i'm going [ bleep ] to the walls. i can say that? >> he is colorful and he knows how to coin a phrase. the market responded with the tepper rally. then in may 2013 he's back talking about the fed winding down qe, that stimulus program, and the markets listening again very closely. >> there better be a true taper or else you're back into the last half -- i think you might be in the last half of '99. so like guys that are short, they better have a shovel to get themselves out of the grave. >> i can just tell you real quickly? look at a chart at what's gone on this morn

david, in my favorite place in america, charlottesville, virginia, thanks very much. and phil lebeau, i like where you are, too. it's just fine. i'm particularly fond of charlottesville. thanks, guys. >>> dominic chuet aside the processed meats and he is here for a "market flash." >> lockheed martin shares are at session highs. the company is buying a very small company or at least the operations of space operations of astro tech for about $61 million. you can see there lockheed martin up about a percent. again, a very small company's operations, they're paying $61 million for it. the stock is up for lockheed, sue. back over to you. >> dom, thank you very much. >>> well, across the pond, results of european parliamentary elections shocking the establishment there. many of the winners were parties that think the european parliament shouldn't exist. so why were they so successful, and what does it mean for the future of the euro and the eurozone? our chief international correspondent, michelle caruso-cabrera, is in london, and she spoke with one of those controversial and outspoken winners. michelle, over to you. >> hey there, sue. in at least four countries here in europe, the voters resoundingly s

david. >> good to see you. >> goldman sachs. >> let's get over it to dominic chu for a market flash here.on, carl. check out shares of delta. the stock moving higher after the airline said it would buy back 2 billion dollars of shares and boosted its quarterly dividend by 50% to 9 cents a share. it's been a good year for delta. up more than 100%. that's a double over the last 12 monthsp. back over to you. >> yeah. sort of leading the rally in airlines. thanks for the flash. up next, twitter sliding deep into the red as that lockup period expires. should investors be worried where the stock is headed. plus, we all know what an alibaba ipo could mean for yahoo! but what about the many other smaller firms with stakes in this massive company. find out who's in at alibaba and who stands to make the most cash. "squawk on the street" will be right back. right back. ameriprise asked people a simple question: in retirement, will you outlive your money? uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the

chu? >> you look at this poll and nationally republicans are relieved that the top two that have been in our poll in the republican primary are not phil gingrey or paul broun. david look like the two headed to the runoff. which means the establishment doesn't -- means the national party doesn't have to go in there and bail somebody out. they let the two of them fight it out on their own. i don't think they care that much which one they get. they feel either one of them is more electable than michelle nunn. to bring it back to kind, i've had many national democrats say kentucky would be over if michelle nunn were the nominee in kentucky. >> bill, obama carries virginia twice, north carolina once. georgia, kentucky are different in that georgia's not quite as southern anymore because of atlanta. does that make it more critical if. >> i don't know. georgia will be a tough year. i think karen handel could make the run. one of the under-reported stories this year is republicans look like they're getting a pretty good field in the general elections. but also younger in many cases. younger candidates who are well qualified aren't going to make foolish mistax either. you