run big buses through san francisco to institutions on the peninsula, such as google and apple, genentech, and our own muni. this is an issue that we have to look at globally as we look at the use of transportation, particularly, diesel buses, and see if we can somehow make them more efficient. a couple other things that i would suggest, and this is not necessarily part of the plan. i am really happy that this is moving forward, and we should try to reinstitute monthly meetings and quarterly reports. the more we talk, the better things work. also, one of the things in the informational master plan is no duplication of facilities. on this housing issue, working in conjunction with ucsf, the dental school, and all the other institutions throughout san francisco who have lots of students and housing needs, if we can create new housing to accommodate their needs, both for the academy of art university, as well as these others, that is a great idea, and is part of the housing concept, or perhaps conversions of existing commercial or retail space whose needs have changed and are available. anot

we came here because amgen, who competes with us in the markets, and genentech are fighting ever space there. there was a short time when at the ranch in south san francisco was higher than the ranch here. the total cost here was still higher, but that one moment i knew only happen once every couple decades. so we jumped on it. we got the board to agree to let us come here. the shorenstein family built this building. they did a very good job. but when we got here, we were alone, and it was an economic crisis time. we had this idea that if we had a quality building and $100 million of improvements that there would be a lot of young companies that would prefer this environment to the alternative, which might be a garage or might be a lousy building down in south city somewhere. for recruiting people lot of ucsf, in particular, this is a tricky issue. we thought we had would be valued. turned out we were right. and it turned out we were wrong. we were right in the sense that a lot of ucsf demand came. we had many venture firms support us and say, this is a great idea. because people hit t

the decision is a huge setback for bay area biotech giant genentech. at stake as much as $1 billion in annual sales of the drug. >> you want to spend $1 billion on things that are going to help patients and help women and help everyone. this is not one of those drugs. >> reporter: some republicans have warned an action like is an example of healthcare rationing. but ucsf's dr. rita redberg disagree. >> this is not rationing. rationing is when you have something that works and you can't give it to somebody for other reasons. this is a drug that has not been shown to work after several very well-done scientific trials. that's not rationing. >> reporter: in fact, san francisco-based breast cancer action a group that advocates for breast cancer patients applauds the decision. >> we simply believe that pharmaceutical companies should not be able to sell hopes. they must sell results. >> reporter: a handful of health insurers will no longer cover it for breast cancer. the drug will still remain on the market as an approved treatment for certain other types o

he also serves as chairman of genentech. and disney c.e.o. robert iger joins the board.ixar animation to disney in 2006. apple's board had been criticized for not disclosing the health of steve jobs sooner. apple stock didn't move much after the announcement from its closing price of almost $389 per share, up 2.5% today. share's of online social networking site linkedin unhooked today. the stock fell more than 4.5% on heavy volume. the company is selling more stock, almost doubling the number of shares available to trade, including a big stake from an early investor, private equity firm bain capital. and that's tonight's "market focus." chicago may be known as the city that works, but since the start of the recession, roughly 200,000 jobs have vanished. mayor rahm emanuel is trying to get those lost jobs back and then some. diane eastabrook reports tonight on how emanuel is making some headway against some very strong headwinds. >> we need to make chicago the best place in america to start a business, create jobs, and gain the knowledge and skills to fill the jobs of tom

but genentech, the maker of avastin, told cbs news that several private insurance companies have already stopped paying for it. >> then it would only be patients that are relatively well-to-do who would be able to actually get the drug and pay for it themselves. >> reporter: although cost is a big issue here, the f.d.a. says it doesn't consider the price of a drug, only whether it's safe and effective. >> pelley: but, jon, what about bonnie fertel in your story who says the drug is savig her life? >> reporter: scott, she may be a small group of women who may well benefit. but you know who we didn't have? the woman who died from avastin because of a side effect. that's what the f.d.a. has to consider as it's refereeing this tension between evidence-based medicine on the one hand and patient belief on the other hand. they have to consider evidence the big picture. that's why we saw today's decision. >> pelley: interesting. thank you, jon. there are just five days left far so-called supercommittee to figure out a way to cut nearly $1.5 trillion from the federal budget deficit or face automa

the decision is a huge setback for bay area biotech giant genentech.stake as much as $1 billion in annual sales of the drug. >> you want to spend $1 billion on things that are going to help patients and help women and help everyone. this is not one of those drugs. >> reporter: some republicans have warned an action like is an example of healthcare rationing. but ucsf's dr. rita redberg disagrees. >> this is not rationing. rationing is when you have something that works and you can't give it to somebody for other reasons. this is a drug that has not been shown to work after several very well-done scientific trials. that's not rationing. >> reporter: in fact, san francisco-based breast cancer action a group that advocates for breast cancer patients applauds the decision. >> we simply believe that pharmaceutical companies should not be able to sell hopes. they must sell results. >> reporter: a handful of health insurers will no longer cover it for breast cancer. the drug will still remain on the market as an approved treatment for certain other types of c

take the biotechnology company genentech, for example. it was founded on discoveries made in our universities and those discoveries were made with financial support of grants from the national institute of health. and those federal funds proved to be a very good investment. the company has created over 11,000 jobs and the company created products that have had mauge effects on the health and economic well being of our nation. they develop drugs that treat certain leukemia, arthritis, and breast cancer. n.i.h.-funded research has also had a major impact on the lives of those suffering from multiple sclerosis. m.s. is a painful disease that often strikes young women with children. thanks to n.i.h. research, drugs have been developed that are now in the marketplace that mean m.s. patients now live longer and have higher quality lives. since 1970, over 150 new f.d.a. approved drugs and vaccines are new ind -- or new indications for existing drugs have been discovered in university laboratories, most funded by n.i.h. millions of americans are