david: elizabeth macdonald joining us from far rock away new york.from your old neighborhood, right, liz? >> that's right, david. my parents lived un, grew up the way. what we're looking at, liz and david, good to be with you this afternoon is a boardwalk that still has to be fixed and built. basically the number they're talking about here in the rockaways, government basically allocated 9 to $10 billion in government spending. off billion was appropriated. they're waiting for machine know to come back in. the other big debate happening out here, basically flood insurance could go up. this flood insurance price increase was enacted three months, ironically before hurricane sandy swept through the country and devastated businesses and homes in about 13 states. and here's the deal. here's the problem. congress may vote tomorrow to delay the flood rate increases, one guy, dan monday, fire department chief out in brooklyn, he is also a civic association leader, he is really upset. he is saying take a listen who is profits off flood insurance. here is dan

elizabeth macdonald joins us live in one of the hardest hit areas in new york city. person first, how much is the government spend on sandy recovery? liz: good to be with you, bill hemmer. $4 billion to date. this cost the u.s. economy $65 billion in economic losses, and also we are seeing essentially news coming out of washington, d.c., the costs are increasing for flood insurance, right? so we have people finding out that i am in a flood place. they did not know it before. not just in the coastal areas here and the northeast, but rivers and lakes across the country. those costs are going up. they may delay the flood insurance increases. what you are looking at is this is the boardwalk, the iconic boardwalk torn apart like matchsticks. these are the areas people were risking each other with kayaks, canoes, surfboards to get out of these homes. this is a place where we saw speedboats ending up in kitchens, wave runners ending up in the bedrooms. just to the west of us breezy point is still in rehabilitation mode. 350 homes either flooded or burned to the west of here

cheryl: elizabeth macdonald has her bottom line.n's insider trading trial. ♪ [ male announcer ] imagine this cute blob is metamucil. and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. ♪ >> 23 minutes past the hour. president obama is cutting short his upcoming trip to asia due to the government shutdown. two stops are canceled. the president leaves saturday night and will visit two places. the trip is part of a plan to boost the u.s. economy. best-selling author, tom clancy, has died. he wrote 25 books in his career. his espionage and military thrillers inspired a number of movies and video games. marc jacobs is leaving when we put on. thanks to his ready-to-wear line, he will now concentrate on his namesake brand. cheryl: here is elizabeth macdonald. >> eric schneiderman suing wells fargo. take a listen to what he just said moments ago. >> in dealing with homeowners -- >> he is saying that w

ashley: should be lady elizabeth macdonald if we have a xircoming up. lori: you're not kidding.can't read a poker face, ha-ha, but can read her hashtag. why lady gaga and other is a lens are pushing obamacare. lori: we have a deal that is helping vonnage hit a new high. you want to stick around for more on that. [ male announcer onc there was a man who found a magic seashell. it told him what was happening on thtradg flr in real tim ♪ the shell bught him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistin talking continues ] [ male announcer ] so the mac shell went back to being a...shell. get live squawks right inour trading platform with think or swim from td ameritrade. with mdentures. i ht i love kis. i've always had that issue with the seeds getting under my denture. super poligrip free -- creates seal of the dentures in my mouth. even well-fitting dentures let in food particles. super poligrip is zinc free. with just a few dabs, it's clinically

tracy: elizabeth macdonald and what we can expect to hear from her next.breaking -@news. that is a live picture of the white house as we await expected nomination of janet yellen as a federal reserve chair. as soon as he comes out, we will bring that to you live. elizabeth macdonald on her thoughts. by all accounts extremely qualified for the job. tracy: she has seen so many different crises. her priority reading her -@speeches, jobs. what that means is she will do anything to help create jobs in this country. she was the lone remaining foc member who was there in 2004. alan greenspan wanted to double rates. she said no, don't do that. when rates did "-double-low-quote orange county, california collapse. the mexican peso devaluation crisis happened. what she has said since is it would be wise and humane to allow a little bit of inflation to have jobs come back in this country. what data is she looking at? not just the jobless rate, but the dropout rate. which is so key because of government data being in a vacuum right now. ashley: she has been very strong

elizabeth macdonald looks at how serious it really is. before the hearings are coming up bu about what happened with e health exchange, why there are so many problems. we turned to a corporate executive with a long pedigree of a long history working at xerox, 44 year veteran anthony federico has 44 patents to his name. one of his friends invented the computer mouse that microsoft copied. he has been the chief engineer. chief engineer at xerox. were the problems in your opinion glitches, or are they fundamental? here is what he said. >> clearly a fundamental problem. i don't see how that will be fixed anytime soon. it has to take weeks to months. software works when you test it. there was no rudimentary testing done because there are no available fixes. >> what he is saying is he is not well acquainted with the contractors who worked on the exchanges. in other words asking why not ibm, why not the smaller contractors for such a big launch involving potentially 30 million people coming into the health system. we do basically consumer testin

elizabeth macdonald has been talking about this somehow on a plane home from vacation.cation. liz: i might be george hamilton of fox business. tracy: i think you look fabulous. liz: thank you. we have been chasing jpmorgan's legal costs since 2008. shoddy mortgage bonds, other litigation expenses, foreclosures. with the 13 billion included, $34 billion climbing. with six of the nations, the six biggest banks in the country, look at this number. $137 billion is what the top six banks have been pang in legal costs since 2008. going back to jpmorgan chase. the controversy is this. they feel they have given the government cover in acquiring their sterns and washington mutual which were both insolvent in 2008. essentially 80% of jpmorgan losses on mortgage bonds come from the bonds at bear stearns and washington mutual. where it stands right now, we could see an agreement this week or next. what is key is admitting to guilt. if they do that, it will open the door wider to places and lawsuits. the second thing is criminal probe still under way out of the sacramento offices of

neil: to elizabeth macdonald is here with a look at which u.s.could flood toward bankruptcy. said in to see if your home town is on the list. lori: getting a lot of traffic today, halloween, big bucks for the candymaker. more on that. it's a growing trend in business: do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get e view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade-proud to be ranked "best overall client experience." i'm, like, total

elizabeth macdonald at the forbes health care summit joins us with an exclusive interview. liz?and david. a really rare chance to talk to sir andrew witty, ceo of glaxosmithkline. he hardly ever does tv interviews. glaxosmithkline, one of the world's biggest drug companies. came off a tough year of the bribery allegations in china. record settlement with the u.s. government due to off label drug uses. wow, wait until you hear what sir andrew witty is doing at his drug company to change all of that. here is sir andrew witty. >> what we're trying to do at gsk, we're trying to make sure every decision is based on value to the company. making sure every single employee understand what is expected of them. they are trained right, all of those things. then bringing forward a fantastic new pipeline of products. already we have two vaccines approved here in the u.s. four pharmaceutical mdas approved. that is incredible delivery for this year. it gives us a lot of momentum to take the business. >> what are the two vaccines? one was malaria? >> the two vaccines were for flu. we have two f

elizabeth macdonald has been following this story for us.it is not quite settled yet. >> united technologies were first out of the box. now they are canceling. they have reduced the number of furloughs. so is boeing. they have given us a statement because they have not received specific detailed information on who exactly is being and stated. what it may mean, again, they are still not commenting. what we are seeing is a wait and see approach. what they need is the guys to be there in their seats to sign off on military hardware and things like helicopters. cheryl: we are still reeling with threats overseas this is part of defending our country. >> we are seeing mixed trading. they are now coming back but what this means, you know, the states across the country -- dennis: this thing that you talk about last week was the affect on global economies. i think that is the bigger concern here. this shut down, especially when you have such tepid economic data, it is the local economy that will actually suffer. >> you are exactly right. certainly wi

connects, elizabeth macdonald gets the facts straight on obamacare.. we have this going. ♪ ♪ with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. stuart: unemployment benefit claims down to seasonally adjusted 345 last week, down 10,000 from the previous week slightly above the estimated 339,000. who cares? business leaders will join a number of obama administration officials that a summit in washington to encourage more foreign investment in the u.s.. president obama, treasury secretary jack lew, among the scheduled speaker

we have elizabeth macdonald here now. >> they have steadily risen since the start of 2008.his country, look at this number. $137. getting back to what is happening. they have sued 17 banks in 2011. those lawsuits are still out there. what we are hearing is happening at jpmorgan chase is that the bank did draft an agreement, the bank does not want to admit to any guilt. 80% of jpmorgan's losses are attributed to bear stearns. whether or not there is a criminal prosecution of anybody at the bank, that would certainly cause the legal costs to rise even further. an admission of guilt would wind the door open to the plaintiff bar. we will be tracking this story throughout the day. dennis: thank you very much. sean colmes, he will be launching a new network. that will be in my media minute. cheryl: take a look at some of the winners on the nasdaq as we send you off to break. ♪ [ female announcer ] who are we? we are the thinkers. the job jugglers. the up all-nighters. and the ones who turn ideas into action. we've made our passions our life's work. we strive for the moments where

elizabeth macdonald is in new york, one of the hardest-hit areas. hell is the recovery going? on the beach. this is what we wanted to show. the iconic boardwalk where family and friends spent their summers, it was torn up like matchsticks. you can see, it still has to be rebuilt. we know that the boardwalk in long beach has been rebuilt. this is an area -- right now i will walk on top of the sand berm they are building. this is an area where about hundreds of homes were demolished by fire and water and flooding. speedboats ended up in kitchens, wave runners ended up in living rooms. people were washed out of homes for rescuing each other. to the west of here is breezy point. they are still rebuilding homes. we are hearing news out of washington d.c., the house and senate trying to reach a bipartisan solution to stop the rise and flood insurance that the president signed into law in july. people are going to have to leave their homes and businesses because they cannot afford the flood insurance. you live in a beachside cos will come and you have to pay for the hire from insuran

an exclusive interview with elizabeth macdonald and bruce broussard. >> bruce is one of 200 executivese lincoln center. i asked him how health reform is affecting his bottom line. here is what he had to say. >> i think for society overall, it will be great. it is expanding coverage for people. business, it will give us more customers. >> what are you seeing in terms of medicare cutbacks? >> it is reducing the rights they pay us. it is allowing us to find new ways to help people with their health. street cleaning rules how are you making money off of that? >> continuing to lower the cost of healthcare. it allows us to be more profitable. i dig long term, it will be good. i think long-term, more people are being covered is a good thing. i think it is a great motto. >> keeping them healthier, how will that change your profit flow? >> it will allow us to lower the cost of healthcare. as we lower the cost, that improves our bottom line. >> what did you think of the government shutdown? >> i am not getting into that one. >> we have a whole new entitlement coming in. that is health reform. we

dagen: elizabeth macdonald joins us from rockaway, new york. liz: good to be with you.boyle, the editor of "the wave." what do you think of what is happening? >> business in particular was hit hard, good number of people are still displaced so they have had a hard time coming back. liz: this is a shot of the boardwalk ripped apart like matchsticks. this is an iconic boardwalk. >> this is the lifeline, townhall, main street of rockaway and so far there is no completion date as far as we can tell. we are asking how about a completion date but so far nothing firm. liz: $4 billion so far for recovery and essentially we're seeing $65 billion cost to the economy. what do you say to people who say you should pay more in flood insurance? >> we expect to pay a little bit more, but we don't want to be chased out by extravagant fees. people out in kansas and joy the interstate highways and people take the subway every day and get subsidized. tell me where you are and i will tell you the subsidy. liz: the president increased flood insurance. saying increase the cost for flood insur

the bottom line from elizabeth macdonald. liz: latest developments.bout $6 billion settlement, jpmorgan chase could deduct some of the settlements on tax returns. the $6 billion deal is with blackrock. bank of america settled with investor group. i can tell you something, the latest developments separate from that, we do not know whether or not there will be a deal struck by friday or even early next week. this is what i heard from people close to the deal. what we are talking about is a separate tentative deal with the u.s. government over bad mortgage bonds. what we are hearing is again the sticking point is initiative guilt, that is what the government wants, and also we are hearing from people close to the matter. sources are saying the e-mails coming from characterized as an lower-level employee at the bank, this is behind the criminal probe in sacramento, california, into the bank. e-mails that are characterized with an lower-level worker, bank insiders telling me this person did not have any knowledge of the value of the bond. this lower-level

macdonald >>> tonight, new rules for gun owners. good evening, i'm ken bastida. >> i'm elizabethstack of gun control bills to sort through. he vetoed one that would have given the state the toughest gun laws in the nation. mark kelly reports. >> reporter: the governor signed more gun control bills than he vetoed. and for supporters of gun control legislation they say this is a good step forward. out of the 18 bills, 11 the governor signed. assembly member nancy skinner sponsored two of them. >> the purpose of both these bills is to increase safety in our communities, prevent gun violence, and to give our public safety officials and others more tools. >> reporter: ab-48 closes a loophole making it illegal to buy or possess conversion kits. conversion kits allow gun owners to shoot more than 10 rounds of bullets with one pull of the trigger. >> the fact you could convert a magazine to be a high capacity magazine goes counter to what state law wants and it provides the ability to turna weapon into a mass shooting machine. >> reporter: ab-1131 addresses the mentally ill, they can't b

elizabeth palmer, cbs news, wales. >> pelley: and that's the cbs evening news for tonight. for all of us at cbs news all around the world, good night. >>> your realtime captioner is mrs. linda m. macdonaldto the wire if bart and its unions don't reach a deal in just a few hours, your commute could be crippled as soon as tomorrow. >> good evening, i'm elizabeth cook. >> i'm ken bastida. we are just six hours away from the midnight deadline when that cooling-off period ends. bart put a new deal on the table this afternoon. it's now sitting with the unions and we're waiting to hear if they will accept that deal. mark kelly is at the fremont bart station. he had a chance to talk to some riders who are had enough of this back and forth. right, mark? >> reporter: absolutely, ken. i talked to a handful of riders today. one woman told me in her opinion, both sides are acting like children. but in our most recent kpix 5/surveyusa poll, about 75% of those surveyed favor bart over the unions. >> reporter: riders worry this could be their last bart ride for some time if there's a strike. >> i just wish they would come to some kind of agreement and just settle it. >> reporter: our exclusive poll sho

macdonald. >>> the coast guard finally breaks its silence on that mysterious barge in the bay. >> good evening, i'm ken bastida. >> i'm elizabethle still won't sigh say a word about a secret project on the bay but allen martin found out more about the barges themselves, who owns them and their ties to a mysterious tenant on treasure island. >> government officials, federal agencies, everyone wondering what's going on with google in san francisco and maine. we finally received a comment from the u.s. coast guard, sort of today. we found at least three barges two with container structures on them all marked with the letters bal followed by four numbers. the two barges at treasure island are numbered 0010 and 0001. the barge in portland, maine is marked bal0011. a document provided to kpix 5 by the treasure island development authority confirms one of the four tenants currently leasing space in hangar 3 which sits across from the barges is called by and large or bal. it moved in august 1 this year but so far the authority hasn't provided kpix 5 with a copy of the lease to show how much by and large pays and how long it plans to st

macdonald >>> bart riders with a message for negotiators as we near the end of the 60-day cooling-off period. good evening, i'm ken bastida. >> i'm elizabethk. dozens of people are gathering with banners, signs and lots to say about a potential bart strike. chopper 5 over a union rally at frank ogawa plaza in oakland a push to get support for bart to call for a fair contract. the preparation should be there for another walkout. ryan takeo is at the rally. >>> reporter: good evening. there are at least 200 supporters here union supporters here at frank ogawa plaza. the unions say if there is a strike, it is because bart negotiators are forcing them into one. either way area business leaders say another strike could cripple the economic development of the bay area again. >> last time it was really difficult. >> reporter: if you thought july's bart strike was bad, you're not alone. >> we had to carpool a lot. >> reporter: workers at the financial district's [ non- english language ] had to rely on each other. managers rounded up workers in the east bay to carpool. >> mostly all of it. we live in berkeley. >> reporter: it's frustrating. >> cra

macdonald >>> twitter finally unveiling the countdown for its public debut. and in the process, we're learning about the company's secrets including just how much money it really makes. good evening, i'm elizabeth cook. >> i'm ken bastida. >>> more on twitter in just a moment but first, two breaking stories going on in the south bay. we begin with a scary collision involving a school bus carrying close to 50 students. three students injured as the bus collided with two other cars. this was the scene about an hour ago at julian street and 28th. our cameras were there as students were escorted off the bus, some injured. three students from san jose high school were injured along with the driver of the suv. trouble began when the driver of a pickup truck tried to turn right in front of the bus. >> both vehicles had green lights. there was an unprotected left- hand turn at the intersection. and a white -- the white pickup made a left-hand turn in front of the school bus violating the right of way of the school bus causing the traffic collision. >> the driver of the suv was also taken to a hospital with neck and back injuries. the injuries to the student appear to be minor. they will be checked out

macdonald. >>> good morning, it's thursday october 10, i'm michelle griego. >> i'm frank mallicoat. roberta is at the ballpark. we are going to hear from her around 5:00 so elizabeth will talk to us about weather. >> partly cloudy, a little warmer than yesterday but overall not a bad way to start the morning. temperatures vary wildly, mid- 40s in santa rosa to mid-50s in oakland. 54 degrees right now. so take a check of that seven- day forecast. it's not too early to start talking about the weekend. but in the meantime, we have a few workdays left so if you are about to head off to work, the bay bridge toll plaza no delay but there is the usual overnight roadwork towards treasure island. more on the drive coming up. >> thank you. >>> we begin with breaking news at 4:30 out of libya where kidnapped prime minister alley sa dan has been freed. we have a picture of arab news network as gunmen took him from a hotel in tripoli. no word what led to his release but the government suggests libyan forces intervened in some way and the kidnappers did not free him voluntarily. it's believed the

macdonald >>> that's the pounding sound of prosperity echoing all across the bay area. and now a rush is on to fill the explosion of jobs. good evening, i'm ken bastida. >> i'm elizabethif you work in construction, you're likely getting a steady paycheck. the number of those jobs available in the past year is up nearly 6%. we have live team coverage tonight. da lin is in the san leandro where a big project is revitalizing the city. >> but first we go to mark kelly and the push to fill this demand for construction workers. mark? >> reporter: ken, massive projects like this one behind me, they are popping up all over the city. in fact, just today, we talked with students graduating tomorrow with construction certification. and they tell us in this city, at this time, it is good to be a construction worker. with the skyline changing before our very eyes, electrician alex jones sees a bright horizon in construction. with his own business, he does the hiring and sees starting pay for electricians at $15 to $25 an hour. >> there's a wide variety of construction types. and if you choose the right one that you like, you can make a really good living. >> reporter: in the bay a

macdonald >>> i must inform the public that as of midnight tonight, we will be on strike. >> and with that the entire bay area faces commute chaos tomorrow. good evening, i'm elizabeth bastida. we have team coverage tonight. ryan takeo is breaking the news to commuters. but first, brian webb with what happened today that brought us to the verge of a strike. brian. >> reporter: you know, ken, both sides have gone home, tired and frustrated. the federal mediators from washington, d.c. are going home, too. they gave up. so now there is nothing and no one left here to stop a strike from happening at midnight. both sides were in this building for 30 hours talking almost nonstop and so close to a deal. all that talk about money, it wasn't even the issue in the end. it was workers' rights versus management rules that killed it. the unions say at the last minute, bart threw in a management's rights clause. they didn't go into detail but decide some safety and overtime -- cited some safety and overtime procedural things they didn't like. management said they needed rules to keep bart sustainable in the future including updating train technology and that was it. after months

macdonald. >>> you may want to stay indoors. close windows. >> air quality taking a hit. big haze blanketing much of the bay area, a hazardous combination of high winds and wildfire. good evening, i'm elizabethastida. >>> this rural solano county fire is the source of much of our bad air quality tonight. flames and smoke pour into the sky as firefighters fight a 1,000-acre fire. the winds spread the smoke around the bay area. dozens of cows are trapped in their pens for quite a while. grass burning just feet away. authorities finally herded them away from the fire. >> fire grew so fast that authorities were fighting from the air and from the ground. it's about 50% contained this hour. so far one structure has been burn, but several others are threatened. >> here's a closer look at where it's burning specifically in solano county just south of highway 12 near suisun city. >> team coverage tonight tracking how multiple fires are causing bad air quality. first we start with mark kelly with the thick haze in the east bay. >> reporter: we are live in the oakland hills. earlier we were on the city side and you could just see the haze hanging over these hills. since then, it has died down a little

macdonald >>> a dramatic video demonstration of a safety feature designed to save lives. but that device nowhere to be found on a bay area bus that struck and killed a bicyclist. good evening, i'm elizabethstida. we'll get to the bus safety in. >> breaking news on southbound 280 where it connects to southbound 101. a big rig lost control and as you can see there, it is now dangling about 40 to 50 feet above the freeway. the driver managed to climb out. the chp says there are no injuries. but debris has fallen into all lanes of southbound 101 at alemany and oil and fluids are leaking on to two lanes of northbound 101. only some traffic is getting through right now. a tow truck is working to pull the wreckage from the guardrail. it's a mess. cars look like they are backed up for miles. as we said, that crash is causing traffic gridlock in the area right now. here's a look at our traffic map. take a look at all those red arrows. that means traffic is practically at a standstill. north 101 traffic backed up to oyster point. a real mess. and we show you more live pictures. we'll keep an eye on this situation and get you additional updates throughout this newscast. >>> now back to muni safety.