they should take themselves public they could raise like groupon or facebook they could raise a quick twenty billion dollars then they would go in and they would buy out let's say h.s.b.c. or barclays buy all these banks fire everybody and you know have your way with them whatever that means throw me out the window we don't care they're useless at that point and just replace the entire city of london with real professional duders not these amateur looters having your way with them imply something different i think in the u.k. . well everything is slightly different in the u.k. because of all those public schoolboys not ok stacey newman thanks so much for being on the kaiser report thank you max don't go away downtown josh brown after the break so stay right there. welcome back to the ca's report imax keyser time now to go to new york city and speak with josh brown of the reformed broker dot com josh also works with barry ritholtz over at fusion i.q. an online quantitative research firm josh brown welcome back to the kaiser report thank you for having me great to be on the right josh b

it or not a ponzi scheme it's appends on how you want to define ponzi scheme essentially the way groupon is operating is they're taking in money from merchants you know from the sale itself and they're not paying out the merchants for sixty to ninety days that sixty ninety day window where they're holding on to the cash allows them to hire more people bring their services into other cities so they're creating growth just by virtue of the fact that accounts payable haven't gone out yet so the only way this thing continues to grow is if the. we can roll out into more and more and more of cities at a certain point you hit a limit where there aren't enough merchants that are interested in participating there aren't enough people willing to take the coupon and use it or there aren't enough people that are willing to be employees of group on a new city sold to bit lee we know the schools will hit the wall exacerbating that fact you've got a lot of competitors there was zero barriers to entry facebook will get into this game amazon already is they're back in living social there are going to be

in the tech space and this group on groupon allegedly hacked merchants e-mail to alter contract so a federal class action lawsuit in the united states alleges groupon altered one of its merchants contracts by gaining unauthorized access to the merchants stored e-mail the suit filed by household construction and repair website bid my crib claims groupon sarap tisha slee change the contract to extend the terms of a deal bid my crib had offered write well this is a major scandal because in the offering document for the reason i.p.o. initial public offering under risk disclosures this information material to the underwriting of that security by goldman morgan morgan stanley other wall street firms was omitted so that's a breaking of the law all right there but not that there are already laws on wall street but here they are committing massive fraud again group on top of the fraud of taking a ponzi scheme public pocketing billions and leaving the carcass to rot in the accounts of pension holders all over the world that will be forced to suffer austerity measures to pay for this massive fr

the sec told groupon to back up the comment. groupon's lawyer said he quote, did not understand that. the brief conversation was on the record and should be disregarded as not reflecting his views. and groupon is still not profitible. the stock is above ipo price and it's down about 18%. and let's take a look at the markets today closing slightly higher, reports out on labor and housing markets. we may just weather the storm brewing in europe z as for your bloomberg sill hi convalley index, also some games and speaking of yahoo there is news out alibaba hired help in washington. the e-commerce company working with a group lobbying firm saying it took place in the fall but it's just now being made public. alibaba has been clear about interest in working out a deal with yahoo. such a move would be watched closely by laumts. and finally, get ready to say goodbye to the incan decemberent bulbs. january 1, the 100 watt light bulbs will no longer be made in the u.s. this, is to raise america's energy efficiency standards, one alternat

if you want a great deal on your next trip or to find deals in your own city, go to your groupon website. i heard you have somebody special with you there right now, is that right? >> i sure do. >> ellen: who is it? >> hey, darling. >> ellen: hey, kellie pickler. >> hey, ellen. >> ellen: hey, kellie. >> how are you? you look beautiful. >> ellen: you look beautiful, kellie. >> well, thank you so much. >> ellen: you look great. >> how are you? >> ellen: i'm doing really great. i guess you have to get in. they're going to start soon. so you're going to do something for us, right? >> i know. they're going to shut the doors. i ain't gonna be able to get you in. >> ellen: so you're going to get some tickets for some people to get in there, right? >> i thought those were my tickets. >> ellen: all right. give your tickets away. >> okay. i'm a giver. [crowd shouting] >> hey, baby, come here. there you go.

. >> groupon is live. >> and taking a look at traffic now. in san francisco, you can see it's very slow going in both directions here at the skyway. approach to the bay bridge, and the approach to 101 and the peninsula. you can see the camera here is shaking quite a bit as well. winds are still gusting out there. >> today is world aids day. san francisco marked it with a remembrance and a special tribute to san francisco general hospital, one of the first places in the world to treat aids patients. >> this was an amazing reunion of the nurses and staff who treated the first aids patients more than 30 years ago. the reunion took place at national aids memorial grove in golden gate park. the grove is celebrating its 20th anniversary. it's a beacon of hope for many. now, most of the people who met there today worked at ward 5 b and 5 a at the beginning of the epidemic. and here in san francisco, aids is still a gay man's disease, it has affected other communities. >> we're seeing a lot of latino, african american patients, injection drug users.

. >> and groupon quiet period is before ipo is over. and first, the so called 500 shareholder rule is under fire. dozens are asking regulators to make a change. and hi, larry. outdated overly restrictive and limiting is how 40 technologies describe the rule in a leter to congress. among those, executives from twitter and gilt group. the rule require companies to go public or disclose their financials to the public once they have more than 500 shareholders but execs say it forces companies to go public too skoon soon. and the group is pushing for legislation increasing the limit to a thousand. and meantime, the quiet period for groupon ace under writers ended today. and readings have been mixed with several concerned about the crowded daily deals marketplace. most analyst is closing at 2250 today up about $4 from the close. groupon wasn't the only daily yields company making headlines today. ebay's pay pal is taking aim the daily deal market as it plans to start offering coupons tailored to customer buying habits. by moving into deals it

groupon being the best example of that. investors seem to be hung ho about living social at this round of funding is any indication, the belief that it generates more revenue per user than groupon does. there is about a third of the subscriber that's groupon does. now, a quick check of the markets today, stocks making a late-day turn around, putting the dow at its highest level since october. ending the day unchanged. facebook privacy issues getting personal. this time, mark zuckerberg himself is a victim of a privacy breech. and his personal photo was his dog, girlfriend and the president were revealed by hack qlorz exposed a flaw in the security system. facebook said it allows users to see other private photos but insists it was quickly fixed. zuckerberg apologized many times and we had nick thompson on bloomberg west today. he believes users should just assume whatever they put online could become public. in san francisco, i'm emily chang. >> i'm going to stay sai if mark zuckerberg can't keep his photos prit pri vit the

in some cases with a dull thud. >> groupon was the second one. they were up about 25, 30% on the first day. immediately in the first couple of weeks fell about 40%. but has shot back up above its ipo price, which is, we along with others are skeptical of that company and their business model. >> reporter: this year's top ipo performers included imperva, a leader in data security. gnc brand holdings, a mall favorite featuring nutrition bars. tangoe, a telecom group and a resign-- refiner and marketer of petroleum-based products this year's worst included china century dragon media a chinese television media buyer. friendfinder networks, a dating web site, imperial holdings, a specialty finance company and finally kips bay medical whichn develops products such as mesh stents for use in bypass surge rae. a and that prings us to the ipo market of 2012. >> the balance sheets of the companies coming public, the deleveraged aspects of those companies that are coming public all point to a very strong cycle for the ipo market. and one that is going to put

. >>> bargain shoppers, you may want to check groupon for last-minute holiday deals.hey're offering a $10 credit to the first 150,000 people who buy a local groupon by christmas eve. the ceo of groupon says it's a symbolic gesture to show people they can both save money and support local businesses. >>> u.s. postal service is warning people about getting e-mails, referring to package deliveries. those e-mails may contain a virus, the postal service says. officials say some customers are receiving e-mails about an attempted or intercepted package delivery. when you click on the link, it installs a virus that can steal personal information. officials say just to delete that e-mail. if you have any questions, you can contact the postal inspection service, which is working to shut down the e-mail virus. >>> time right now 5:26. coming up, the overnight coming up, the overnight developments in north korea we were so blessed when we had triplets. if by blessed you mean freaked out about money. well, we suddenly noticed that everything was getting more expensive, so we switc

groupon is thinking locally. the online deal site is offering a $10 credit to the first 150,000 people that buy a local groupon. transaction must take place by christmas eve. groupon ceo says the offer is a symbolic gesture to show shoppers they can save money and support local businesses. >>> drivers may have a little green in their wallet for holiday shopping. in san francisco a gallon of regular sells for $3.62. in oakland $3.55. in san jose it's three cents a gallon cheaper. that is 30-cents a gallon more than the national average. >>> 6:20. starting today your drivers can find out where you are going. metropolitan transportation commission is making several changes to the 511 travel information website. services are now combined on the beta home page including accident alerts, road construction announcements and a map that shows traffic congestion. the old website will function as normal as this new site is tested out. >>> time is 6:21. if you have a bunch of mismatched socks, local researchers want to hear

. >> look out groupon. ebay is paying close attention to your business.york. >>> the paypal business is taking aim at groupon looking to challenge them in the market for on-line daily deals. they are going to offer coupons. expect to see the coup by making its first foray into mobile bills next year. if you feel watch when you are out shopping, those security cameras are looking for more than you think. bloomberg as more retailers are using cameras and other technology to monitor shopping behavior. they can see when to put more salespeople in a given department or take note of high traffic areas where they can move merchandise. >> live, local, and late- breaking, says that travel during the christmas and new year's holiday weekend will be at the highest -- aaa says travel during the christmas and new year's holiday and will be the highest in years. futres are indicating a higher open. that is business news. i am linda bell reporting for abc 7 news. >>> 5:52 right now. you do still have time to be part in of facebook giveaway. >>> you could get groceries f

online and then use their groupon coupons because that's what we were leching onto i mean because the world is too complicated the world is too scary and this time unlike any other time in our history and it's it's it's it's a combination of digital media platforms reinforcing it what we're doing is rather than being depressed or rather than seeking escapist entertainment we're basically zombie find ourselves and going out and buying our christmas presents buying our gadgets dipping into our savings to do that. and buying one of the you know people of smartphones people i pads why is it that they're not more informed than ever well because there are too many outlets and they don't and they don't have the time to discern what's real across all these platforms specialty digital platforms now and. we're talking about people who are very well educated imagine with. the service economy people the blue collar people who are getting hammered you know what what do they have to fall back on well they fall back on the same thing everybody is this in the style jewels this is the time of the year

ebay is paying close attention to groupon. holiday travel is expected to wrap up big time this year -- ramp up. jane king has the bloomberg business report. >> if you're expecting to travel during the holidays, leave early. the number of people travelling will hit a 5-year high. as for stocks, keep an eye on shares of legg mason. moody's revised their outlook on the company. stocks continued to slide yesterday as the fed policy measures held back for taking any new action. the bloomberg maryland index falling on losses for under armour and joseph a. banks. paypal taking action against living social. ebay will start offering coupons. expect to see the company making its first foray into mobile deals. care to cameras are looking for more than you think -- security cameras. they can take note of high traffic area where they can move merchandise. i'm jane king for wbal-tv 11 news. >> 36 degrees on tv hill. >> ask any ravens fan and i will say t-sizzle is on fire. >> don't forget to e-mail us your response to our water cooler quest

also, locally, you get all these deals from groupon and living social.ls, chemical peels, tires, food, whatever. it's all right here. you want to get your drier vent cleaned. hit on it. there you go. there's your groupon. tap buy. it's already loaded up in the system. it is cool. you never have to leave this site, jump through a lot of hoops, it is all right here. it constantly updates you. really cool. tap by deal. tap b-u-y deal. that's what you are doing. also, another thing to show you, there's a new year's app. we have one day, seven hours 18 minutes and 44 seconds. whether every you hit, fireworks go off. don't you love that? isn't that fun? doug kammerer is going to have fun with this one. that's just a little fun thing to wish you a happy new year. an appy new year. pat? >> love them. thanks. >>> coming up next, doug's weekend forecast. the coast guard released some of the best rescues this year. weigh in on which one you think is best. >>> tonight on nonstop, check out foodies at 9:00. turkey burgers, a healthy serving of reality stars. then sta

. >>> and groupon is thinking locally. they are offering a $10 credit to the first 150,000 people who buy a local groupon by christmas eve. amazon is giving a $5 discount to find a lower price on the website. >> thank you very much, jackie. it's 5:18. we've seen a lot of economic woes. they will lose $980 million in trigger cuts. one of the programs that will see a lot of change will affect california's youth offenders christie smith is live in oakland with more on the story. good morning, christi. >> good morning to you. caring for the youth offenders is expensive. about $200,000 each according to state figures. that is to supervise them, house them, educate them, feed and clothe them until they're at least 25 years old. governor jerry brown is now proposing a major shift that might put more of the burden on counties to pay for them in state lockups. this according to the oakland tribune. right now alameda county pays $500 million a year for each of them. brown wants at least $125,000, which would be about $6 million a ye

groupon one is close in both directions. there is no word on the victims conditions. a big question throughout the weekend the robocall trial, will paul testify. we can tell you the answer is yes. the aide to former gov. eh rlrich took the stand. what he had t say in his own defense. >> he tell the jury he had nothing to hide. he did not try to suppress african-american votes. >> he took responsibility for authorizing the robocall in 2010, but he denied it was intended to keep voters home. it was written by henson, a political consultant -- consultant hired by the ehrlrich campaign. >> was there any discussion of ordered it suppression, his lawyer asked. >> know, we were trying to get 3000 to 4000 votes convincing people to leave their homes and go vote. he described the intent of the call as counter intuitive. getting black crossover votes to vote for ehrlrich. he denied he told henson to lead off and authority line that would have identified the source of the call. prosecutors tried to attack on that. showing an e-mail were he approved of excluding a line in another

>>gabe: groupon just went public less than a month ago, their stock skyrocketed the first today's andt has dropped 42% below its initial ipo. >> there is a holiday treat at union square. the temperatures feel like the holidays. it looks like another cold one for this evening as we look live at the ferry building, the embarcadero is in the background. look at the numbers. mid-30s tonight. we could see more readings below freezing tonight. it looks like it will be slightly warmer for this evening. clear skies over california this evening. just to the east, there is a storm system, it is not headed our way but it is producing lands. they are headed into the bay area for tonight. look for the wednesday increase after midnight. this the strongest winds are forecast into the northeast and east bay hills. the other thing impacting our weather, this storm is headed into alaska and canada's. and this will cause any storm to be detoured. that means a continuation of dry weather in california and perhaps through next weekend. there is no rain in the forecast for the next seven days. the other th

>> guest: i mean, you know, groupon -- and i'll be honest, i don't know a lot about groupon other than what i've read on the internet. when it first came out and people were talking to me about groupon, i thought it personally was -- i thought it was ridiculous. it's a coupon book, right? or it's everyone can buy something if everyone wants to buy it, and then it'll be cheap or. but at the same time, they've built, they've built themselves up so quickly, and yet they were making a lot of money, and they are making a lot of money. so there's that. i don't know enough about it to know where it's going to go. i feel like everyone, amazon's getting into it, everyone's getting into the same business so how does groupon stay relative and powerful with all these big monsters getting into the same game? i don't know. i don't know enough about it. it's funny, i have a lot of friends who are internet millionaires, close the billionaires, who start internet companies in their dorm rooms, this guy neil who started a company in his dorm room, he's 35 now, genius. started three company companies, hi

groupon and pandora are trading at or below their price. is going up as the travel season gets into full swing. it will raise fares by $10 per ticket. this is the latest in a series of fare hikes that airlines imposed this year. industry analysts say the fare hikes indicate they are seeing strong demand for travel dispaoeut the weak economy. >>> all right, if you have not gotten your christmas tree yet there is a way to get one tomorrow for free. how can you do that? and you can help the environment at the same time. >> reporter: the ring mountain open space nature preserve. people forbidden it to remove anything. so, why is the public invited to cut downy trees here tomorrow? >> down trees here tomorrow? >> it is not normally allowed at all. these trees are invading the natural communities here. >> reporter: about 50 pines selected for removal. >> when they start to move into the grass land they out take the plants we are protecting. >> reporter: we found people looking for the red tagged trees like this 14 foot monterey pine. now, that is

groupon out of chicago, a ver volatile stock. and you did just fine on linked in if you bought it at the early price of $45, now trading around $71. amazon says it will soon send software to its tablet to make it more sxonsive, kindle fire, after reviewers called it slow. "new york times" going as far as to mention the kindle fire in the same sentence as the etzel and new coke. if all you want is something to read books on, there is a cheaper kindle. overall, not bad. back to you. >> scott mcgrew knows what he's talking about. thanks, scott. >>> holidays are sure to be awkward for a pennsylvania family. a man is charged with disorderly conduct for publishing an obituary for his still-living mother. >> really? >> the guy told police he did it just to get some time off of work. the local newspaper figured out something was fishy when the woman showed up at its office, asking why her obit had been printed. i don't even know what to say to that story. >> yeah. nice work, pal. >> yeah. >>> anyway, let's send it over to check on the we

. >> the founders of groupon believe in it, they've invested $2 million into this jcompoo ly" having triplets is such a blessing. not financially. so we switched to the bargain detergent, but i found myself using three times more than you're supposed to and the clothes still weren't as clean as with tide. so we're back to tide. they're cuter in clean clothes. thanks, honey. yeah. you suck at folding. [ laughs ] [ female announcer ] just one cap of tide plus bleach gives you more cleaning power than six caps of the bargain brand. visit facebook.com/tide to learn about special offers. that's my tide. what's yours? >>> there's no bigger rush to download the latest games than around the holidays. those who receive new ipads, iphones and ipods generate a lot of money for developers of the applications but there's one challenge for appmakers -- getting their app reviewed and approved before apple employees go on vacation. apple shut-down begins on thursday. however, developers can sell apps through third parties any day of the year. i did get a new apple gadget but i already downloaded all

pipeline is strong, despite the collapse in the stock prices of high profile offerings like groupon, linked in, and pandora. also below their offering prices are dunkin brands, and hospital owner hca, which was the biggest deal of the year. but some think the class of 2011 is getting a bum rap. >> if you look, actually, at some of the statistics on earnings reports, a strong majority of these companies have beat expectations. >> reporter: 2012 is expected to be a better year for i.p.o. deals, especially if facebook takes the plunge. a strong market for new issues is not just good for the firms going public; it also means more income for financial firms doing the deals. erika miller, "nightly business report," new york. >> tom: speaking of stock listings, after more than 60 years on the big board, texas instruments will soon have a new trading home. the company announced today its moving its stock listing from the n.y.s.e. to the nasdaq beginning in the new year. so, a new exchange, but the same ticker symbol-- t-x-n. still ahead, another day in the hot seat on capitol hill for former

from amazon to groupon and even charity gift cards that give back, ecards are a great alternative. enter the amount and recipient email and you have one more person off the list. for the procrastinators who want to wrap their gifts, thank the print button for that. from gift of the month clubs to spa and movie gift certificates, a growing number of retailers are producing print gifts. merry christmas. keep in mind you will likely pay full price for most of those online options so if you are looking for last-minute deals the best bet is the mall and you still have time. some stores are open through christmas eve and most major retailers are open until at least 5 p.m. tomorrow. >> if we just change my mine. the bacon of the month club? >> you can print it out, wrap it up and there you go. >> who knew. >> gives bringing home the bacon new meaning. >>> stay with us. we'll be right back. the largest dam in the state is going up, during one of the >>> here's one of the stories we're working on for 6:00. the largest dam in the state is going up in during one of the driest decembers on rep

. >> we had a big year with linkedin, groupon.u think technology is in the middle of a bubble? >> in terms of public markets, absolutely not. back in the internet bubble back in the late '90s, everywhere you went, people talked about stocks. you talk to taxi drivers, you would be in an elevator, and you would hear people talk technology stuff. that's not the case today. part two of that where i think there may be a bubble is in the silicon valley. silicon valley has created a situation among venture capitalists where they want to go in big and exit big, and that might create problems for them. what's happening is they're going into small companies with big ideas and putting in 20, 30, $40 million hoping that they'll be able to take them public at some point. i think 90% of those companies will never go public and that's going to create extra problems for those vps that go in. part of it, you could say, is that the price points of investments that are happening for technology companies are dropping like a rock. literally, maria, i'

some, like linkedin, exceeded expectations, others like groupon, have come up short. many stock watchers will be looking at sing ga closely because it is part of a social networking space and if it does well, you can expect the frost surrounding facebook's protesting stock offering to bubble up even more. janelle? >> scott, thanks. >>> today, the war in iraq is officially over. over the past nine years, 4500 americans and 100,000 iraqis have been killed. $800 billion spent. on the outskirts of baghdad, a few hundred troops attended a quieter is mope, watched the official u.s. military command flag if put away. a sign iraq is now a sovereign nation. leon panetta recognized the service of the thousands of men and women who served in the region. >> you will leave with great pride, lasting pride, secure in knowing that your sacrifice has helped the iraqi people begin a new chapter in history. >> there is, however, one more mission still to go, the withdrawal of the remaining 4,000 troops. that withdrawal is expected to be complete by the end of this month. >>> a registere

of the year, after groupon. >> susie: as we spend more and more time online on sites like facebook and twitter, tonight's commentator says our real lives and our online lives are merging. he's harry lin, executive-in- residence at idea lab, a technology incubator in pasadena, california. >> there's an acronym used by some tech geeks called i.r.l. it stands for "in real life." you type "i-r-l" when you want to distinguish between the mediated, anonymous world of the internet and, well, real life. kind of ironic, huh? there's a fascinating tension in the internet between "real life" and our virtual lives. an increasing number of news- and-editorial sites force you to use your real identity if you want to post comments or ask questions. a lot of startup services force you to log in using your facebook account before you can do anything on their sites. and any number of smartphone services are tied directly to the real you. see, these businesses have decided that value is unlocked when you must be you online. however, at the same time that many internet businesses are forcing you to use yo