next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential loan, i use the standard five c's of credit. the first one is character. what we are looking for is a minimum score around 640. we would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. if we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may be. it cannot be, i did not want to pay that payment any more. the second c, conditions. basically, how precise will the money be used? we are looking at a business plan. when you look at a business plan, that is just a start up. we are looking to see where there will be the need for lending. if you are an existing busi

so espn gameday is going to fargo. but they're going to downtown fargo. quite a stir going on.his? what's the stir? why are people upset? the big show is coming to fargo. >> they're over it, ed. i think it was a vocal, vocal minority. and a bunch of people that were too lazy to get their butts downtown to take part. the town's abuzz. it's wild. it's like you remembered only take it times ten. when they beat kansas state, it even notched up a little bit. >> there's a lot of places espn gameday could go. this a big deal for the river city, isn't it? >> huge. first off, if you're in fargo, north dakota, you want this type of attention. they brought the woodchiper down here for the movie fargo. understand this is publicity you can't pay for. this is the kind of stuff that north dakota state university is looking for. and the people that were the naysayers, you can't go downtown, they were the ones that just wanted to swagger from their tailgate, have a beer, watch awhile, then eat a brat. those folks lost. espn knows what they're doing. they're downtown looking at the fargo marquee

is coming to san francisco- based wells fargo. wells fargo is cutting 1800 jobs citing a slowdown in business. the cuts are nationwide. it's not clear if any jobs will be lost in the bay area. just weeks ago the bank eliminated 2300 jobs from the same unit. >>> in a few hours, apple stores will open up to these long lines and fanatics will get their hands on the long- awaited iphone. people in palo alto were in it for the long hall bringing lawn chairs and blankets to wait outside the apple store. a few diehards have been camping out since tuesday. the camping crew says everyone is helping each other get through the wait. >> there's also a public bathroom down the street which is nice. starbucks has allowed us to use their facilities also. and as far as sleeping, i have a team that we've done shifts so, you know, collaboration makes life easier. >> you know you can order online, right? >> it's just a phone!! >> the 5s is $199 for a 16 gigs

next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential when i am looking at a potential loan, i use the standard five

. >> tough news hitting people working for wells fargo in san francisco. that company announcing it's about to lay off hundreds of employees. seema mody is live right now and has of course all of the details on wells fargo's troubles and the rest of the news. good morning. >> good morning. cnbc confirmed wells fargo plans to cut mortgage related jobs on top of the 3,000 announced last month. the move comes as refinancing slowed as rates have risen and new home sales failed to offsthaet decline. they will try to find other positions for as many people as possible. a look at markets, futures are higher after stocks rallied on wednesday following the fed's surprise decision not to cut back on its bond buying which has helped keep interest rates low. the dow hitting all time highs, the nasdaq at a 13-year high. we good data on unemployment, existing home sales and manufacturing and in terms of the specific moves on the down, 147-point gain, the nasdaq adding 38. the news you can expect extra cash next year. a new survey finds employers plan to dole out raises

last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should get us know when we go back outside. not sure what to expect. second, i thank speaker pelosi for all the work she did to support the jobs act and before that, the stimulus bill, the original american recovery act bill that allows sba to be able

it's not at every wells fargo location. nbc bay area was at a wells fargo in north san jose within the hour and said there were no problems at that location. >>> students excited for the first dance at one san francisco high school have to wait. the lowell high school dance was supposed to happen a few hours from now. instead it's been pushed back to next week. complaints came in that it was the same night as the jewish holiday yom kippur. we have more on how the students may lose some big bucks. >> reporter: here at lowell, some seniors may miss their last first dance of the year, a dance dedicated to their class. >> if the majority of them can't go, the point of the dance is kind of wiped away. >> reporter: this 17-year-old senior worked on planning the dance for four months then got just one day's notice that it had been pushed back to next friday. right before a.c.t. testing. this high school ranked by u.s. -- a good number of students will likely miss the dance. >> we face the student body. the majority of which is ext

i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certi

some wells fargo customers say they are having trouble accessing their accounts.ozens took to the facebook page saying they could not pay their bills or withdraw money. one customer said he couldn't deposit his check and didn't get a receipt and couldn't take any money out. wells fargo admits there are issues affecting some customers, but didn't offer specifics. >>> california health officials are warning not to eat an imported candy that can be dangerous. the latest batch of sugar candy tested at . 22 parts per lead. that's more than double to be considered contaminated. throw it out immediately. they import the candy from india and the recalled packages are 7 ounce and have a label that says batch number 12030. >>> tonight google wants to know why one of its street view drivers crashed into a bus and then tried to leave the scene. it happened in inindonesia. the car which has a camera mounted on top of it slammed into a bus and then the driver panicked apparently and started to drive away only to hit another bus. it is unclear if anyone was hurt, but there was s

. >>> meanwhile, wells fargo, the nation's fourth largest bank says it expects to make fewer loans in the next quarter. even though it is the nation's largest longer, they will see a drop in loans due to the rising interest rates. >>> last week, in a story about j.p. morgan chase bpg getting out of the student loans business, we reported that they stopped accepting requests for student loans, but in fact, wells fargo is still in the business with about $11 billion worth of student loans. >>> and from wall street to main street, everybody is watching what apple plans to unveil. the spotlight will be on tim cook, the ceo, shareholders and others would like to see apple, with new products and services. john fort has a preview. >> big day for am ceo tim cook and the iphone with the company's reputation for innovation on the line. for the first time, apple watchers expect to see two iphones, the more affordable and colorful 5 c which may help to expand apple's market share. >> market share is important, you have to have high unit value and high market share in order to get the best investm

in this case wells fargo says using it would be unconstitutional. but leaving court today, the mayor had a message for the banks. >> please! cooperate with the city of richmond! we're offering you cash!! we're offering you fair market value for these mortgages! the investors benefit! >> reporter: no one from the plaintiffs' side, wells fargo or deutsche bank, was available to speak on camera by our deadline. both sides are instructed to file additional briefs for the judge who will make a ruling on this case on monday. now, if eventually eminent domain is used to help struggling homeowners in richmond, the mayor says that that would all be funded in part by an investment firm in san francisco. live in san francisco, anne makovec, kpix 5. >>> san francisco is one of the most expensive places in the country to live. we know that. but today the city broke ground on some much-needed affordable housing. >> and i love to see the city's official bird on this site, the crane, of course. [ laughter ] >> the 75-unit project at broadway and sansom streets is f

wells fargo lost its fight to have mortgage fraud case dismissed. it reportedly paves the way for the department of justice to pursue all federal claims against the bank. wells is the largest mortgage lender in the nation and is accused of lying to the government about the quality of its home loans. the bank did not comment. meanwhile-- bank of america, jpmorgan chase and wells fargo topped the pledge to help struggling home owners in california. the la times reports-- the banks reduced the amount owed on mortgages to 18.4 billion versus the expected 12 billion. bp is making its third attempt to suspend settlement payments to victims of the 20-10 oil spill in the gulf. it follows allegations in a report by ex-fbi director louis freeh that claims administrators had conflicts of interest, with law firms accused padded their fees and used their alleged influence to move to the head of the line. an internal probe by the settlement office found what it called "an isolated situation." bp wants the settlement program corrected before more payments are made

jp morgan chase college students wells fargo and discover treasury according to reuters-- bank executives no longer view lending money for college as a significant growth market. jp morgan's exit leaves less competition for the remaining players such as wells fargo, discover financial services and the government. in peru -- children as young as 13 are helping the country become a top producer of counterfeit cash. just use first 15 seconds of that video -- no peru election stuff :) the south american country has overtaken colombia's title as a capital for counterfeit production. children reportedly work on the design of the fake bills by hand --adding small details to improve the credibility of the notes. 100 million dollars in fake cash tied to peru has been seized over the last decade. a modern family star is shining in hollywood. actress sofia vergara ranks number one on forbes list of the top earning ladies on tv . she brought in 30 million dollars this year, thanks to a variety of endorsement deals. big bang theory's kaley cuoco also capitalized on her fame with endorsements. she land

some wells fargo customers say they are having trouble accessing their accounts. dozens took to the facebook page saying they could not pay their bills or withdraw money. one customer said he couldn't deposit his check and didn't get a receipt and couldn't take any money out. wells fargo admits there are issues affecting some customers, but didn't offer specifics. >>> california health officials are warning not to eat an imported candy that can be dangerous. the latest batch of sugar candy tested at . 22 parts per lead. that's more than double to be considered contaminated. throw it out immediately. they import the candy from india and the recalled packages are 7 ounce and have a label that says batch number 12030. >>> tonight google wants to know why one of its street view drivers crashed into a bus and then tried to leave the scene. it happened in inindonesia. the car which has a camera mounted on top of it slammed into a bus and then the driver panicked apparently and started to drive away only to hit another bus. it is unclear if anyone was hurt, but there was

. >> reporter: wells fargo takes borrowers through clear steps to determine which product is right for them. >> this is specifically in reaction to what we learned from consumers about what they want to make good decisions. >> reporter: and there are new rules to protect lenders. the consumer financial protection bureau or cfpb created the qualified mortgage, a qm mortgage must meet federal standards, including that a borrower can pay no more than 43% of income on debt. the loan cannot have risky features that were popular in the last decade. a qm loan gives mortgage bankers protection from borrower losses and can be sold to fannie mae and freddie mac. >> we created more rules and regulations to protect the consumer than have been applied in the history of mortgage banking today. are there going to be unforeseen risks? absolutely. >> reporter: that's where critics argue that qm by giving safe harbor to lenders leave borrowers in the lurch again. >> if you get a certain kind of loan that meets certain terms, you have no recourse against the bank. that should never be the case. >> report

. >> you work with companies like we mentioned google and facebook also wells fargo bank of america, as they look towards implementation how do you advise them? what challenges are they facing? >> yeah, so the thing is that a lot of the challenges that these companies are facing really don't have to do much with the affordable care act. the affordable care act is targeted at providing insurance to individuals who don't have it because they lost a job or for whatever reason. the companies that i work with are interested in controlling health care cost and the affordable care act didn't create the problem but didn't solve it for businesses either. >> :00 for a short break. when we come back, the myth vs. the fact. federal health care law, stay with us. >> welcome back to inside story. we're talking about the federal health care law, the affordable care act and its impact on businesses an workers, there are a growing number of companies that say the health care law is changing, how they do business. papa john' john's ceo jan sn rarvetiontter says it would cost the company 15 cents a piz

i'm actually in puts in wells fargo.should be interesting---should matter where the stocks could go from there. angie: scott, what's your play? scott: you're seeing the xlf back off a little the financials have been the leader the entire year. i think this is an opportunity to actually get into the financials. we've seen this pullback there. we've seen it across the board. i think it's a great time ahead of earnings to be in financials. angie: scott bauer, andrew keene thank you so much. coming up tomorrow, a check on how manufacturing in the u.s. is holding up as lawmakers grind their way to way to a decision on the budget and the debt limit. thanks so much for watching today. from all of us at first businesss, have a great monday! >> woman: the following is a paid presentation for the nuwave precision induction cooktop, brought to you by the makers of the number-one-selling nuwave oven. >> announcer: when you turn on your cooktop, do you really know what the temperature is? no-- you're just guessing. are you too busy t

wells fargo chief joins tracy byrnes and ashley webster next. miss that discussion. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could i

some wells fargo customers say they are having trouble accessing their accounts.r bills or withdraw money. one customer said he couldn't deposit his check and didn't get a receipt and couldn't take any money out. wells fargo admits there are issues affecting someomers, but' customers, but didn't offer specifics. >>> california health officials are warning not to eat an imported candy that can be dangerous. the latest batch of sugar candy tested at . 22 parts per lead. that's more than double to be considered contaminated. throw it out immediately. they import the candy from india and the recalled packages are 7 ounce and have a label that says batch number 12030. >>> tonight google wants to know why one of its street view drivers crashed into a bus and then tried to leave the scene. it happened in inindonesia. the car which has a camera mounted on top of it slammed into a bus and then the driver panicked apparently and started to drive away only to hit another bus. it is unclear if anyone was hurt, but there was some damage to the google car. the tech giant is wor

wells fargo confirmed nbc bay area that it was a computer system problem and it has since been resolvedsaid what caused the outage. >>> facebook is rolling out a new way to watch videos op mobile devices. when you see videos in your news feed they'll needily start playing with no sound. if you want to watch you tap the video with sound. just keep scrolling if you don't want to watch. facebook says it's doing a limited test to start. >>> no more refunds if you missed your flight on southwest airlines. as of today passengers have to cancel who do not cancel in advance will lose their money if they don't show up. customers who buy nonrefundable tickets must cancel at least ten minutes before their scheduled departure time. >>> some torture in baseball tonight. but it was all good for the as and giants. brody brazil joins us next. ♪ for a store near you go to benjaminmoore.com/bayarea. we run errands. we run to the grocery store. in fact, the average american drives fewer than 29 miles a day. the 100% electric nissan leaf goes two-and-a-half times that on a single charge. it's a car. it jus

big banks are warning of a housing slow down, wells fargo, jpmorgan, bank of america have cut significant number of jobs and are predicting a sharp decline in their home loan businesses. so are mortgage lenders and home buyers feeling the ripple effects of rising interest rates. here's the chairman of connect bank one and mark fleming. mark fleming, let me begin with you. very disturbing story in the "wall street journal" today. new home sales not so august. that means the august numbers aren't very good. what they reported is certain surveys and you may be more familiar with this are showing that the traffic for looking at both new and existing homes, you know, the potential home buyer traffic has really slowed down. i'll get to refis and applications later. sheer traffic looks like a down town in august. is that true? how important is it >> i guess it depends. typically you have a downturn in august because people focus on going back to school and things that happen in september in society. house is a very cyclical process. you expect a slow down to happen in terms of people looking to

jpmorgan chase, bank of america, citigroup and wells fargo, workers are expected to be laid off becausee rate spikes. lori: elizabeth macdonald, thank you for that exclusive reporting. twelve years later, the september 11 interview. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimi

wells fargo is considered one of the bigger names.s overall, as you can see they're doing well. here are the three markets, dow, nasdaq, and s&p down a little bit. let's bring in nicole petallides from the floor of the new york stock exchange. you're looking at nicole. >> looking at blackberry, under pressure again, cheryl. let's look at the stock for just a moment. trading $8.35. a far cry from the $11 range when we were talking about blackberry being a takeover target not too long ago. down 4.2%. this is news in the latest quarter they will take a charge of nearly one billion dollars, with underperforming sales there and what's interesting, we talk about apple, just to give you some context, apple, for example, sold nine million iphone units in three days. that well surpasses the just 3.7 million that blackberry sold in an entire quarter. so really are shows you. what they are doing for blackberrys they're changing their focus, leaving consumer and focusing on enterprise and focusing on businesses that is their strong suit. that is

we have the cfo of wells fargo and cfo of home depot.ht after this. ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ >>> welcome back to squawk box everybody. i'm becky quick along with joe e kernen. we are getting ready for the interview with chairman and ceo of gold man sachs. investors look ahead to 2 p.m. eastern time. the bank is expected to taper the bond buying back program. we'll have much more throughout the show. mortgage applications jumped 11.2% last week led by a surge in refinancing. the association says the 30 year mortgage rate fell to 4.75%. china is said to be closer to the billion take over bid. shang is closer to the deal. a deal is expected for next week. star boa

wells fargo has confirmed there is a problem and that they are working to fix it. bank customer service twitter feed was buzz with customer complaints this afternoon. >>> police are still searching tonight for whoever was involved in a shoot out outside marriott hotel in downtown oakland. we were overhead and took these pictures of the ohio state football team and many fans staying at the marriott for tomorrow game against cal and they could not get in while police processed the crime scene. ball players and fans there. cab driver was unintended victim shot in the leg as he stood outside his taxi drinking a cup of coffee waiting for a fare. 4 of the bullet went in the exterior of the hotel. one witness in his office when he heard the gun show. after everyone got up and ran over to the window pretty quick. sfl we noticed the marriott panic and marriott then we saw the two gunshot hole that we saw from our window. >>reporter: taxi driver is expected to be okay but scary moments certainly downtown oakland today. >> men time happening now near the port of oakland evict

wells fargo hace más fáciles tus transacciones bancarias... y listo. haya borrado yo pienso que sale su información para que chequen lo que ella hablaba sale pero para eso se necesita la policía cibernética que no somos nosotros ahora, ojo señoras y señores, ustedes sabían que facebook tiene los derechos para quedarse y utilizar absolutamente toda la información y material fotográfico de video bloque ponga y bajo su propiedad que utilizarlo como ellos quieran, ya lo sabe mi me parece peligroso porque están metiéndose con nuestra privacidad, desde el momento en que estamos abriendo la página de facebook estamos de acuerdo en que invadan nuestra privacidad, eso es en sí globalmente lo que significa, nancy, no pensaste en sus hijos en ese momento no porque me sentía yo bien abandonada realmente ¿y ahora ya no te sientes abandonada? no. gabriel, te tengo en la línea telefónica buenas tardes gabriel, tu viveza en los angeles, eres casado, soltero separado tengo hijos tengo unos 25 años en los angeles y tres novio de nancyiniciamos una bonita relación nos ha

by next year as rising interest rates continue to push consumer demand lower and other banks, wells fargo, bank of america, jpmorgan chase might follow suit, could be a big story so bill joins us from seattle, talked about interest rates, bill will come on and we will get to the federal reserve at some point but what about this story concerning citigroup to start of. what does it tell you? >> that is just one of the consequences, rising rates. the fed believes its job and within its ability to make the economy grow at just the rate it wants and the ten year note has risen from 150 to 3 over the course of the last year. that i don't believe is what the fed wanted to occur. some of that is believed to be because of the fact the fed is going to perhaps taker can billion dollars from what it buys every month which is a rounding error but none the less the bond market that's which is to say the part of the curve from five years and out is no longer doing what the fed wants it to because the job wants to talk longer rates down. i don't think it will get its way but we won't know for sure until

wells fargo said to be cutting 1,800 more jobs in its mortgage division.m berg news says the cuts are in addition to 30,000 earlier this month. higher mortgage rates are slowing refinances and wells fargo is the biggest employer among banks. 237,000 workers there. blackberry to lay off some of its work force and occur all over the departments and in waves. the news is not a surprise according to analysts who cited that company shopping around and looking for strategic alternatives to keep it from going belly-up. hiding millions of dollars, beanie babies. ty warner is the owner. remember in the '90s beanie babies the hottest collector toys? warner will pay a penalty of 50.5 million. >>> another word on the market rally. gold is up this morning and interest rates down sharply around the world and global stocks and five-year highs and record for the dow and s&p, huge market moves here. could mean cap on mortgage rates for now. may be even lower mortgage rates. yesterday when we thought the fed was going to be tapering or many thought the fed would taper the b

bank of america, wells fargo doing the same.ss' elizabeth macdonald broke the story. >> what is up is there was a sudden rapid spike higher in mortgage rates but only 1%. so mortgages were at 3.5%, now 4.5. maybe hitting 5% by next year. but i'm just surprised that the level of job losses. 23,300 people at wells fargo, bank of america, jpmorgan and citigroup. the fact they moved so rapidly to lay off workers tells me something else is going on. >> neil: what is it? >> i think they're previewing a higher mortgage rate. next year. in fact that's what we're seeing in the action. >> neil: how high? >> it could be go back to what it was last decade. 2010, we saw 5, 5.5, 6 percent. remember 9, 10% in the 90s? 4, 5, is historically low but we did see applications for mortgages hit 2008 levels and refinancing hit 2009 levels. the banks are saying refinancing is key. there's a dropoff in refinancing that's hurting revenues so they're laying off. >> neil: have they ever been wrong, the correlation between housing swelling and the cursor w

the sponsor team is salazar and wells fargo will be the tax credit investor and city bank will join partners as the construction lender and bond purposeer. and when completed the bay view will be 1 hundred and 21 fabulous units for seniors and it will have 3 and 4 bedroom units. they'll all be targeted to households earning no more than 50 percent income and for seniors that or it will be a little over $36,000 a year. and or 25 thousand 6 hundred and 50 for the lower units. 23 of the units will be for homeless individuals that will be referred direct access to housing program. and as my colleague said those are conduit 49. the application to the california allocation committee was submitted on september 13th and if award an allocation will return for the board of supervisors to approve the issuance of the bonds. here are the sponsors from mccomic and salazar and we appreciate our support for this item and you'll receive ground breaking invitations >> thank you very much. colleagues, any questions? okay. we'll open it up for public commit. seeing none, public comment is closed. colleagues, ca

wells fargo said they could see 30 percent drop in home loan origination because of refinancing drop. jobless claims are out and they rose a little bit here. computer system change over in california and nevada largely responsible for that. we saw it down last week but the markets are barely moving after hitting record highs for the s&p 500 and dow yesterday. the silicon valley index is trading slightly higher. do not expect a big pay raise unless you are a top executive. the average pay raise for 2014 will be about 3 percent. executive bonuses will remain flat with bonuses at 42 percent of management paycheck. >> thank you, jane. >> are you ready? are you ready for warm weather? >> i thought you were talking football. >> are you ready for some football? what do you think? >> warmer weather is on the way. i will show you what is going on. winds are very light but i want to talk about what will happen this afternoon for all the america's cup fans. winds are light through noon although you can see we getting up around 12 miles per hour in san rafael and the winds are faster other the op

wells fargo has already laid off 3,000 people. fewer people than are expected are financing their mortgages leading to job cuts >>> tesla motors came from an analyst who says the car maker is expected to out perform expect akz expect a recollection -- expectation >>> the drou dropped 40 point the clock is ticking on the bart talks with the next round of negotiations next week. pay and benefits are the big issues saying the two sides are more than $100 million apart. the union is another issue, safety. more on bart's record. >> reporter: safer working conditions and passenger safety are just as important. >> on time ride, dependable. it's a really good experience, and safe,?. >> absolutely. how does bart stack up against other major rail transit systems. the california public utilities says from 2009 to this year, bart racked up 42 transit incidents. san diego, 92. sacramento, 102, santa clara vta, 109, la's mta, 180. san francisco, 366. by this comparison, bart is a safety star. >> i do feel save. i've commuted every day for nine

wells fargo is a bank. we'll keep that. we like that.tin, great defense contractor, all-time high today. we'll get rid of microsoft because microsoft is trying to get rid of itself. doesn't know what to do. we're going to get rid of intel. we're going to keep cisco, credit suisse, we'll add bristol myers, and why don't we pick up -- too defense oriented. financial, drug, how about we pick united health. that's the one i've been eyeing. now the cat's out of the bag. stick with cramer. >> keep up with cramer. follow @jimcramer. send your questions to cramer at @madtweets. ♪ nice car. sure is. make a deal with me, kid, and you can have the car and everything that goes along with it. [ thunder crashes, tires squeal ] ♪ ♪ so, what do you say? thanks... but i think i got this. ♪ [ male announcer ] the all-new cla. starting at $29,900. investors could lose tens of thousands of dollars on their 401(k) to hidden fees. is that what you're looking for, like a hidden fee in your giant mom bag? maybe i have them... oh that's right i don't because i r