i'm on behalf of my team the community investment of wells fargo bank i want to congratulate everyoneho worked so hard to get in project done a place where people can call home it's truly a beautiful property. i want to say a special dwragsz to the contingent bridge housing as was mentioned we say have a long-standing relationship with bridge and the chp we really appreciate that and look forward to doing more affordable housing projects here. at wells fargo we're deeply committed to our community and remain imprinted to have funding for the affordable housing here and in other polygraphs. in 2013 wells fargo invested almost 3 and a half billions of and in san francisco we provided $36 million. we believe like rich said and others the collaboration between strong city agencies and state authorities and private enterprise can tablely improve the quality of life and this project exemplifies it so congratulations wells fargo for being a part of that i want to introduce christen she's with a bank (clapping.) >> thank you leslie. yes as leslie said i'm the manager of the community developm

someone the first year we're goor for it the community actually want to do this thank you wells fargo bankur sponsors to say so few words >> good morning lots of important celebrations welcome to the apa heritage this is a celebration for all especially in the supply like san francisco that's the beacon for the nation we celebrate black history month and we celebrate this as claudine said wells fargo has been here for the last 10 years they understand the market in terms of our history and wells fargo has been connected to the xhintd communities from the beginning whether we started one hundred and 50 years ago testifying against the china's e chiropractors - inclusivey act the asians are part of our history we want to thank claudine and our elected officials for the last ten years of work setting up a celebration so folks from my generation can live in a city we anticipate so thank you (clapping.) >> thank you wells fargo and mark. maybe we should go back toal bat out of hell bet the academy of art the president is here with us today she was a judge for our awards last year and have done

civil context i held positions not only with the securities and challenge commission but with wells fargo bank i was are working in corporate transactions and the litigation for the securities and exchange position unlike my opponents i have over one hundred bench experience i've been in court everyday i said the process and procedure how the courts are run and that sets me apart from ply colleagues, i understand what it is to make decisions that impigeon life and death. as a prosecutor i'm charged with the mandate of charging cases and do that repeatedly i do that in mind with the public safety and that's something i'm maintain as the jury how to understand the consequences of the decision by way of perm narrative as i get ordinary and held my job longer i understand what it takes to transition from one world to another. i have appellant experience that sets memo apart i've been on the writs of appeal team when rulings have been adverse to the sprishth or the district court. eye i have expertise in the policy writings to programs of remitigation. >> ms. williams thank you reminder me did you

. >> that's the wells fargo building or the bank building. >> the wells fargo is on will. >> that's on geary and as you u.s. bank is on page. >> this is a our original location. >> can you reference the. >> that was the original proposed location this is geary here and palm. >> yeah. i see bank but on palm is the roosevelt junior high school it is swaktd between palm and geary. >> yes. further on down palm. >> the next property over. >> further on down we're in front of the bank. >> the traffic did you take into account the traffic from the junior high school you assumed that gere was a more trafficked student. >> in we didn't didn't and ms. short you have 3 minutes of rebuttal. >> department of public works again, i think that the issue at hand is that at&t is not providing multiple locations up front essentially they're trying to force the hearing officer to approve the only site they like and they've not in any of the cases provided more than one location prior to the box walk. it's been our experience and staff has discussed with at&t technical engineers leaguer to look for the sit

bank corps and wells fargo, the bank the best exposure. i don't want to split hairs.up is so cheap that a sector could rally 5 to 10% from here and still be inexpensive. stick with cramer. k with cramer. ♪ do you know what this means? the greater the curvature, the bigger the difference. [sci-fi tractor beam sound] ...sucked me right in... it's beautiful. gotta admit one thing... ...can't beat the view. ♪ introducing the world's first curved ultra high definition television from samsung. >>> when sales force record and went down and then up, that was the signal. check out workday. there is always a bull market somewhere. i'm jim cramer and i will see you tomorrow! flying high with jack utsick. this former pilot's living a $300-million dream. he's one of the top concert promoters in the world. >> jack utsick presents the rolling stones, jack utsick presents madonna, jack utsick presents elton john. it looked legitimate. it looked profitable. >> narrator: but when the securities and exchange commission investigates, utsick dumps his partners and disappears. >> it seemed

wells fargo's sharreholder shocker! the bank plans to return as much as 75% of its profits to stockholders up from 34% in 2013. and, tgi friday's reportedly has been sold to for $800 million to sentinal capital and triartisan capital partners. trader larry shover of sfg alternatives joins us on this wednesday morning. larry we've already heard from some of those fed presidents that moved the market yesterday. today the fed minutes... what do traders want to hear-- what's going to move the market? > > i think what could move the market is any narrative related to the housing industry because they are going to talk about or they could talk about the fact that we are stuck in the mud and will there be any that, nobody's expecting many fireworks from the fed. > > the treasury did see some fireworks yesterday. tell us what happened there, and what to anticipate for today. > > yesterday yields got down to 251 let's keep in mind a lot of this is arbitrage opportunity. our yields are looking very attractive when you consider ireland's a

the wall street journal reports--- banks including wells fargo are ramping up lending to hedgefunds that buy complex debt securities. those collaterlized loan obligations were at the center of the financial crisis. a new report from the fed shows banks are still tough on americans attempting to buy homes. chuck coppola steps in now with an update on a ukraine bank... an update on a ukraine bank... ukraine's largest bank says it is too dangerous for its workers to continue doing business at several of its branches. privat-bank has temporarily closed outlets in separatist-held areas. on its website the bank says that in the last ten days 38- atms, 24 branches and 11-cash collection vans have suffered arson, assault and wanton destruction. the crisis in ukraine is taking a toll on russia's tourism. the wall street journal reports... a steep drop in foreign visitors to russia coming from the u.s., asia and europe. in 2013 tourism grew to 3.7% and was expected to generate 12 billion dollars for the russian economy this year. but now cancellation rates are surging. what we're seeing about now

but living in bank-owned buildings and fighting deutsche bank and bank of america and td and wells fargo and j.p. morgan is not a long-term solution. so i asked, what is the long-term solution? and they explained to me that what is going on now is a process of destabilizing land relationship, and getting to a place where we can have different structures of land relationships in this country. and one of those, one of these systems implementable right now, there are already more than 250 across the country -- is a structure called the community land trust. and what a community land trust offers is the able for communities not companies, communities, to control the land and make decisions about what happens on the land. and they do that through a system of separating the ownership of the land from the ownership of the homes on top. -and so what happened if i were to live in a community land trust of anybody here, you might get a mortgage and buy a home just like anybody else. but you don't own the land underneath your home. who opens the land underneath you're home is a collection of all th

new surveys by bank of america and wells fargo show that small business owners are cautiously optimisticfuture. well, many companies are willing to hire, they're not going to do so at the explosive pace seen a decade ago. and you may have to pay a little bit more for that microbrew these days. an explosion in growth and the craft beer industry pushed prices for hops to levels not seen since a drought hit the market in 2008. craft beers use up to ten times the hops found in beers made by big brewers like anheuser-busch. that's it for us here at cnbc. back over to you. >>> just ahead, the nba playoffs reach do or die time. and a table tennis phenom like you've never seen before. this guy has got skills next. ♪ ♪ abe! get in! punch it! let quicken loans help you save your money. with a mortgage that's engineered to amaze! thanks, g. revlon photoready primer and shadow. add sparkle, or use wet, so you can create whatever eye you're in the mood for. dare to be revlon. introducing nespresso vertuoline. now coffee becomes an experience like nothing you've ever had before. [ penelope ] nespresso

. >>> meantime, bank of america and wells fargo surveys show small businesses are cautiously optimisticut the future. while many companies are willing to hire, they're not going to do so at the explosive pace we saw a decade ago. >> thank you, jackie. >>> stories making news this morning for you, health officials have confirmed a second case of middle east respiratory syndrome or mers in the u.s. the patient is a saudi resident who is visiting florida and is now in isolation. but investigators are now scrambling to contact 500 people who shared a flight with him. while there are 538 cases confirmed worldwide with 145 deaths, the cdc says the risk to the public is low. the only other patient in the u.s. with a confirmed case was released in indiana late last week. >>> the man running against former "american idol" stall clay aiken in the north carolina primary has actually died after an apparent fall. clay aiken tweeted, i am stunned and deeply saddened by keith crisco's death. he was a gentle man, a good and honorable man and extraordinary public servant. he went on to say he would be s

surveys by wells fargo and bank of america find many small-business owners still have conservative hiringns and not much interest in borrowing money. the increasing optimism is fueled by stronger revenue and cash flow. the surveys are online with other recent reports that show owners' confidence is slowly improving. some of the latest headlines on c-span radio. >> c-span's newest book "sundays at 8:00," a collection of interviews with some of the top storytellers. >> i have been living it all my life. migrated from the south to washington, d.c. my mother from georgia. my father from southern virginia . they met in washington, married, and had me. without the migration, i would not be here. i do not know who you would be talking to. i have lived with it all my life. i grew up with people from north carolina, south carolina, georgia, all around, and i was surrounded by the language for the food, the music, the ambitions of the people who migrated from the south. a lot of competition about whose child would go to which school, catholic schools, the school across the park. it has been with me

fargo throws off is huge. it is conservatively-managed bank of the banks in general, we're a bit concerned about the direction of the mortgage market but one of the strengths about wells fargo is the fact that they beefed-up both their commercial and consumer loans which we think will help them over the course of the next several years. liz: let me get to ron and talk about your picks right now. because of your perspective the way you feel you really don't see top-line growth where do you find opportunity for people who still want to be in equities? >> well you can find some pure energy plays. we do a lot in the canadian oil sand. so we have some big dividend stocks up there. oil is $103 a barrel for a reason. it is not the energy independence that you're hearing in a lot of the media. we do have real issues on that side of the table and again, it trickles down to gasoline and costs on the consumer. so it goes back to supply and demand some we do a lot of research. and, that's what we're seeing. you got to have good dividends and a catalyst to make things go higher. david: well, lincoln, i love the u.s. energy

we now know from a lot of reports that have come out recently that one of the biggest banks in the country, wells fargod in emerging markets unit that specifically targeted black churches and the black communities for predatory loans. and now is the government is trying to make settlements with a lot of these banks, there doesn't seem to be a targeted compensation to those who are most victimized. just a general sense that the banks will pay a certain amount to a state prosecution. >> right, right, right. there was the class-action that i think that some of that, but my greatest concern is the root problem of this, which is segregation -- wells fargo had a marketing incentive to do what they did. it was created by as many years ago. even today ash it is not a mistake. they were able to get the memos. you see them describing their customers as much people, black people as much people, get a loans. this is proven in the research. even after you balance for income and credit worthiness and the wealth, african-americans were still targeted. it was not just a matter of them being poor or working-class and t

charlotte, north carolina, home to bank of america and wells fargo, the carolina panthers, charlotte bobcats as well as chiquita, and mitsubishi. north carolina ranks ninth in the nation with the number of jobs from foreign companies with 39% of those jobs in the manufacturing industry. >> of those more from a germany, china. >> reporter: they take great pains locating companies as well as new investors. economic developers take mission trips and work closely with international chambers. occasionally they receive cold calls from companies who have heard about opportunities in charlotte. >> we go where the leads are. companies have been interested in the u.s. market. we've longed had an economic developer on our team who speaks german. six years ago we saw an opportunity in asia. we hired an young woman who spends regular time in china and elsewhere in asia. >> reporter: one reason for the interest from abroad is that charlotte sets up the cross road with easy access to ports, two railroad lines and the international airport which houses the intermodal railyard. 200-acre cargo transfe

. >>> wells fargo is releasing new credit cards aimed at big spenders. the bankng with american express to issue two new credit cards. they are propel 365 and propel world. they are to offer rewards for wells fargo customers who are big spenders or frequent flyers. >>> walmart's web sales group is faster than amazon first time in the a decade. however amazon still surpasses its rival with online sales in electronics and media and other products with 67.8 billion, six times higher than walmart's. >>> those are some of the hot stories on foxbusiness.com. >>> still to come, muni bond are making a comeback. how you can make the most out of this rally. china's answer to amazon.com and it is coming to mobile. details coming next. we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... withstrategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of

. >> on the banking side, i said i know you think wells fargo is the best run bank in america.that bank, how do you think about the rest of the banks? just lay it out in terms of how you think about the jpmorgans of the world, citigroups of the world. >> i think in terms of banks that are perfecting well and have been performing well, us bank and pnc will continue to do well. and more regional banks that are in that cat fore. >> you are a fan of the regional bank more than the sort of supermarket model if you will. >> than the investment banking side. and i have a very great supporter of that. you ensure you aren't concentrated in any way. small banks are really -- it's really difficult because of the regulation. so they are having real problems unfortunately. in terms of the larger banks, all of which tend to be highly involved in investment banking and international activities and so far, the best run bank is jpmorgan and jamie dimon. >> what do you think about bold man sacks? >> goldman is a well run financial institution. but the business model has got issues. they get in t

talk about buying banks, wells fargo, jpmorgan. >> love the top and wells fargo and jpmorgan. anks. especially jpmorgan. they'll get tired of it and it will stop the real value in that company is phenomenal. jamie is clearly, if not the number one ceo in the world, right up there. he's done a hell of a job. the same true with wells fargo. i was intrigued by it when you had the former head of wells fargo on the show a couple weeks ago. he said it all. but these are great values and they're doing a hell of a job. so i love those. i -- believe it or not, i'm getting pretty excited about facebook. >> because? >> because i think they're demonstrating traction and revenue growth in terms of -- >> do you own facebook? >> yes. >> are you on facebook? >> no. i'm not on facebook because i don't know what to do if i got on it. >> i don't either. >> when did you buy? >> we started buying last week. >> wow. >> i think they got a business here. i want to say something, appealing to all of our leaders in congress, let's not argue about who's wrong with this veterans problem. let's fix it. let

reasons why one of the reasons great 23i7b8 institutions bank of america thank you for your sponsoring for this great convention and wells fargo thank you for supporting today's event and thank you to detests for the square for the flavors and all of you who are succeeding our are supporting the others a that's a story it continues to resonate throughout the rest of the country businesses helping other businesses and helping our community. i've added a number of things to my busy i didn't agenda on a weekly basis every tuesday, i visit is a business in the city and talk to the ceo and cfos and people working with the businesses but get to talk to the employees and find out what's attractive and try to meet the challenges and usually it's about transportation or schools now those days it's about the price of housing and building more housing thaitsdz that's where we generate our ideas i added to that meeting not because i want to get out of city hall but on fridays now i've added an hour to get to go to the commercial corridors of the city and walk and feel what people are doing and stick my head into the local restaurant and t

banks like j.p. morgan shays, a wells fargo are messing up on payouts with mortgages.erage size of the settlement check to homeowners over the botched mortgages is a hundred $57.51. but told% have not even been cashed could you be in line with the money? editor of the national review, a good to see you. where does this money come from? >> it is such a mess there are other words you could use but the banks were supposed to go back to figure out how many mortgages they've messed up with inappropriate these are not modifying when they should have. that process is taking so long it is so complicated the banks and the federal government said forget it said they agreed to a payout of $10 billion and 4 billion to go to homeowners that were somehow mistreated but they don't know who specifically they are. gerri: they do know the properties through the loans were for but the lack of information is deadening with no surprise giving many is nearly impossible. what would you feed you thank you are owed money? >> if the bank did not do anything wrong you should not get money but if

my employer, wells fargo wasn't perfect and it got in trouble for it's home mortgage practices but it's done much better than most banks bankers were more careful about the risks they took. wells fargo made sure the same person was responsible for schmoozing the client, doing the lone math and monitoring the loan. once you made the loan it was your problem until the borrower paid it off and that abili accountability pushed people to avoid making these loans. so kevin roadways followed wall street bankers around for two years and found them to be miserable and overworked doing jobs that held little value for them individually or for the economy as a whole. based on this experience, rousse urges them to keep on. i made money and did things useful in the economy and learned research and writing skills that med me a better reporter. but i was in a financial institution where caution was rewarded and business activities were closely tied to the real economy. banking doesn't have to have this reputation. spreading this would make for a healthier financial sector and a safer economy and maybe hatchier bankers. that does it fo

bank of canada society. totally butcher that but you get the point and wells fargo are among the banks offering to let investors borrow money also known as providing leverage to buy collateralized loan obligations now banks have recently increased their willingness to lend following new regulations on the three hundred billion dollars market in the u.s. banks must now find new buyers for these securities in order to offload some of this debt some banks are also trying to ensure demand for more c o o's that they that they have created by crafting economic incentives in order to purchase them now in some cases banks have offered to lend investors as much as nine dollars for every one dollar that the buyers invest and still owes while others are being offered eight dollars for every two dollars invested many investors steered clear of borrowing money borrowed money in general after getting burned in the financial crisis but of course using borrowed money to buy securities may help bolster returns for hedge funds regulators are wary of more investors taking on such large risk and a group of about thirty internation

fargo is making a pitch to the rich. wells is offering 2 new credit cards to its banking clients who either spend big every day or are frequent fliers. the bank is tops in mortgage and auto lending.. but has weak credit card business. the new cards are called propel 365 and propel world. still to come: a trader gauges a bullish move for the stock market. plus.... find out about a play on tesla before it hits the mainstream... and.... donald sterling was recently banned from the nba for life.... why this may be the just the start of his financial troubles. . first business continues right after this! what allegedly started as an affair has ended in a money mess. donald sterling- the owner of the nba clippers has been baned for life from the nba. that's after tmz posted a recording of sterling telling his girlfriend known as v. stiviano not to be seen in public with black men. well, his wife is suing the mistress. joining us on set this morning to talk about love and money-- gemma allen of ladden and allen family law. what grounds does the wife have for the lawsuit and can she win in court? >>she has grounds because allegedly h

bank remaining with by readings. some were more cautious like wells fargo saying there are too many if surrounding it.ybe people are too optimistic. a new low for twitter, and the heavy volume we are seeing at this point we talked about topping 118 million shares. cheryl: about 25%. we are talking 25%, insiders walking away from this. thank you so much, we will watch this stock closely. 23 minutes to go, we will keep our eye on twitter. also talk about a great business idea, it is a business of the case. it is tough to find the perfect arrangements, but startup illumination looking to ease the troubles of the perfect floral gift with your smar smartphone d local florist. the cofounder joins me now from los angeles. david, thank you for being here. what is different with bloomnation then 1-800-flowers? >> the company was founded because my self and cofounders went through the frustrations that consumers go through buying a bouquet. we have no idea what we are buying so when they get it, we have no idea what we are sending. when you go to bloomnation we work with local florist, type in a zip code to see

bank of america just announced it'll hire 150-small business bankers this year in california. and the wells fargo/gallup small business index lists optimism at its highest point in six years. a trend that's got the small thinking big. in suburban chicago, a roomful of small business owners--doing well enough to offer advice... "be flexible, diversify and be ready to automate." and most here with plans to expand on their minds... "some of it may be financially-based, some of it may be marketing based." they all listened to a pitch from village bank and trust--- just seven-branches and a loan portfolio heavy in commercial loans--to let them know that the small business administration has made it easier to secure a loan with clear advantages. "they're a lot less expensive than you think. sba could be 6- 7% interest, those are lower than other types of loans interest rates, effective rates." the s-b-a, which provides a safety net for banks to lend, is expanding eligibility and improved access to capital for small businesses. the reason--- while business orders are up, they are scaled back. "in today'

bank. he also put the brakes on ocwen's purchase of wells fargo's servicing portfolio.ink that'll happen. i don't know if they're close to settling, but they will settle, as we saw with credit suisse, with jpmorgan, goldman sachs, once the companies settle, it's off to the races again. so right now, it's gone from overlove to way underloved. i think it's a compelling growth story within the financial sector that's sort of immaterial as to where rates go, as for just collecting the new stream. >> weiss, i'm told that joe is now 60% in cash. you got a problem with that? >> no, not at all. look, you know, this is -- joe's done a phenomenal job -- >> i think he's trying to protect his lead now. >> and that's fine. look, the idea is to not necessarily make as much money as you can, which he's doing a great job. i mean, the market's up a few percent, couple percent, he's up 16%, a phenomenal job. so why not do it? >> yeah. >> so, you know, i applaud his performance. can't criticize it. >> okay, just checking. just checking. just want to see what everybody thinks. weiss, we ha

goldman sachs and deutsche bank have buy ratings webmac on december 16th, wells fargo, it is underestimatedhe challenge of this company. stuart: steer clear and helped with. >> it puts us at 16-4 at a bad level. a new gallup poll with fewer people relying on the 401(k). 40% of non retirees to use the 401(k) as a major source of retirement income. many people have no faith in the economy and wall street but they're not taking a advantage of the 401(k) and the opportunities they provide. another cold for you. this is from you. it shows republicans with a lead over democrats. that is the exact opposite of the poll resorts, and here's former reagan adviser and author of an inquiry into the nature and causes of the wealth of states. his name is art laughter. call me irving. you said if republicans do extremely well this november, the stock market doubles, that pupil works pretty good to you, doesn't it? >> yes it does. i am not surprised. why would people like what is going on? it is terrible. you had nothing but bad news all the way for the last five years and i don't see why politicians would

bank of america, okay, listen. i would change it up and i would buy wells fargo, wfc and i robot, you know what you need right thereu need to have a diversified industrial so let's make it the general electric corp, pa, dump, pump. let's go to keith in louisiana. >> what's going on, brother? how's it going? >> i don't know, every time i go to lose liez i have a great time. why don't you invite me over? >> let's do it. >> i'll see you in the french quarter. >> what's going on? >> i wanted to see if i'm diversified. >> i have enterprise products, epd, apple, honeywell, johnson & johnson and nustar. [ buzzer ] >> got to get rid of the nustar and epd. i like yields so much, but we'll get rid of nustar and we'll keep honeywell. that's a diversified manufacture you are and j & j and a huge charitable game and we'll get rid of nustar and we'll bring ii in -- it's got apple and some tech. i want to get a good one for him. let's get some -- i know. costco! great number and going higher. that would be good. that will really help. [ hallelujah ] >> now we're going lou in west virginia. i'm louing, i'm not booing. i'm louing!

fargo into jpmorgan. i think the time is close. i don't know that it's here now. >> josh brown? >> i've been dead wrong on the banks. i liked them a lot going into the year. i like them for a multiyear time horizon, but i'm with the desk. it's really tough to see a scenario where the stocks can bottom and turn minus any kind of positive action on the yield curve, and i just can't think of a reason why we'll see that tomorrow, the next day, a week from now. so if you're tactically trading, do something other than the banks. they're not that interesting yet. >> of all these -- >> a good point, right? points at 250 -- >> very fair point. the one catalyst that exists for citi, and why we've seen so many big whales going into citi and looking to bottom fish a little bit, scott, is the potential that maybe they start spinning off some of the assets and i think that could be huge for somebody like citi. that's the type of thing that pushes it up towards 60. >>> coming up next, go pro is planning a $100 million ipo. we'll dig in on the company's just-revealed financials to find out if you should get in on this one when it d