and as we reported in 2006, he was also at the center of hewlett-packard's boardroom battles in the early000s. one of those triggered a confrontation that brought to light how hp was spying on its own board members and journalists and led to the resignation of the company's chairman, pattie dunn. as we reported in november 2007, perkins has a reputation for being brilliant, willful, and wealthy, lacking nothing but perhaps a tad of humility. this is tom perkins' own personal mega-yacht, the maltese falcon, the world's largest privately owned sailboat -- what one magazine called "a big boatload of ego." >> somebody has to have it, right? >> "someone -- someone has to do this. why not me, right?" >> why not me? >> [ laughs ] when i first saw the boat, it was moored off the coast of italy. >> isn't she beautiful? >> she's also a technological breakthrough. the masts stand 192 feet tall, weigh 25 tons each, and are made of carbon fiber. >> the b-1 bomber is made out of carbon fiber. except for the american air force, i've purchased the most carbon fiber of anybody ever. >> on board, the boat

and committed to a smart phone. when we come back much more ahead from hewlett-packard and we will be talking to elon musk. lett-packard looking good too. >> great interview and making some headlines. we have up arrows across the board. major average hitting multi-year high-level seven seen since free financial crisis and the nasdaq at the highest level since 2000. the dow up 217 points. we will take you to break and there will be much more shortly. liz: we are here at hewlett-packard and we finished talking to meg whitman. she said a young kid in his 20s came to her and said look at my company pay pal and we are going to change the face of banking. that young kid was elon musk who is now the c e o of tesla motors and space x please delete rocket ship company. he is a cereal entrepreneur and has a publicly traded auto company that is 28% year over year. in part 2 of our exclusive interview on the floor of the tesla planned elon musk on his ideas and his thoughts about this car company and getting people to the moon, mars and beyond. here it is. you have this whole plant and building cars. start up u.s. auto

hewlett-packard offices. liz? liz: they have been left untouched since hewlett and packard finished work in the company. ave hewlett, bill packard. i want to look inside the original offices of two guys who met in college at stanford. this is bill hewlett's office. they put in cork board and carpet. they said it would be too excessive. they wanted to remain to the original roots in the garage. change still on here, people add to it today. because bill hewlett always left one penny on his desk. he wanted to see if anybody would steal from the founder. nobody did. they always had their doors open to yell and talk to each other. this is dave packard's office as you go in. the open door policy is real. we have prove the doors never closed. look at floor, where the sun hits, always these doors were open. there is a little string of hp genetics inside apple computer that i want to quickly tell you about. steve jobs in 8th grade called bill hewlett, i'm an 8th grader. i have a science project. is there anything you can give me? bill hewlett left him a bag of equipment that came from hewlett-packard. when you th

convinced that she is a hacker at least in the area of clothing right so you know the old days when hewlett and packardwere in their garage i think the used to call tinkering is a kind of the same thing well sure if you're being playfully clever in designing circuits or writing software then you're hacking right but for some reason it's become a pejorative phrase and the word hacker has become synonymous with doing bad things and breaking well that's the first of all. breaking security is not necessarily bad it can be bad or good depending on what you do with the access those gained but in any case the reason why many people think that's what it means is the confusion of journalists around one thousand nine hundred one when they found out about hackers they somehow focused on one activity that some hackers did some of the time which was breaking security on computers and they ignored all the rest of what hackers did now my hacking hardly ever had to do with security except in cases where i protested against security which is not the same thing is breaking security . right now richard stallman you're kn

. >>> microsoft and hewlett- packard are the subject now of a senate investigation. a report by a subcommittee says both companies avoided paying several billions in taxes. according to the report, both companies used tax loopholes and shifted profits to subsidiaries in other countries. now executives at microsoft and hewlett-packard say they complied with the nation's tax laws and did nothing illegally. >>> congressional leaders say the house will wrap up an eight day session today. they will not be back at work -- until after the election november 6th. congress did pass a bill to keep the government funded through the end of the year. but they failed to reach an agreement on something to avoid the so-called fiscal cliff. that's the combination of big spending cuts and the end of the bush tax cuts. and many economists say if this happens, it could push the economy over a cliff and into another recession. >>> well, it doesn't look like members are going to vote on the president's veterans jobs corps bill either. there's also a farm bill which inlose a relief -- includ

>> the heart and soul of silicon valley and they say it is the birthplace of silicon valley. we are at hewlett-packardl exciting moment because they ship forty-eight million pcs year. we are in hp labs and have a set up all day today. this is unprecedented access inside hewlett-packard labs and we are talking to the head designer stacey will about where are the designs. they have really struggled in the past. they have a lot of management changes. you remember the mark heard drama and the previous the io of this dow component. and iconic company in silicon valley so inside these we are going to see the latest and greatest products and we have what is going to be the most unbelievable shelling of what nobody gets to see and that is where it started. it is called the garage. our camera has gone inside where the company started. tiny bronze in palo alto, california where david hewlett and ville packard started this company that turned into the iconic hewlett-packard. at 3:00 eastern we have a fox business exclusive with the ceo who has been entrusted to deal with the transition of a company that has in t

what does that mean for the dells and the hewlett-packards of the world? ing the way of the vcr and the eight-track? >> you're on the right track. in the '70s, you had mainframes and ibm was king of the hill. i worked at digital equipment corporation in the '80s where they said having computers the side of a building wasn't a right idea. digital equipment corporation took over. and then in the 1990s, you had these companies saying, maybe melissa lee wants a pc on her desk. and then you had companies like dell and hewlett-packard and compaq come up. now you're in the point where -- i just went to europe. i brought my tablet and my smartphone and that was good enough. you're seeing a transition to another event dominated by tablets and smartphones. and companies like dell and hp don't have good offerings in that territory. and microsoft is in that same category. pc isn't going away. but its importance and rate of growth is going to diminish in the future relative to smartphones as well as tablets. >> the view on hp, on dell, on microsoft, they're all sort of

. >>> a senate panel investigating the corporate tax code says microsoft and hewlett-packard used offshore units and tax loop holes to shield billions of dollars in profits from u.s. taxes. both companies say their strategies are legal. >>> a new chemical analysis finds virtually all tar balls washing up in alabama since hurricane isaac are directly linked to the bp oil spill. >>> the trustee paying claims for bernard madoff's $17 billion ponzi scheme says so far $2.5 billion has been returned to victims. >>> apparently undeterred by widespread complaints about apple's new map app, customers snapped up the first iphone 5s overseas this morning. >>> and finally, at this year's mad science mecca, two japanese researchers received the 2012 ignoble prize for their speech jamming device which echoes your voice back to you with a slight delay. only slightly annoying. >>> well, coming up, the giants crush the panthers, tigers tied for the lead and two major league teams clinch playoff spots. >>> plus, a grand slam blasts the yankees into a one-game first place lead. your early morning sports head

. >>> a senate committee investigating the corporate tax code says microsoft and hewlett-packard usedffshore units and tax loopholes to shield billions of dollars of profits. both companies say their strategies are legal. >>> a new chemical analysis finds virtually all tar balls washing up in alabama since hurricane isaac are directly linked to the bp oil spill. >>> the trustee paying claims from ber nad mod dove's $17 billion ponzi scheme says so far $2.5 billion has been returned to victims. >>> apparently undeterred by widespread complaints about apple's new map app, customers snapped up the first iphone 5s overseas this morning. >>> and finally at this year's mad science mecca, two japanese researchers received the 2012 ignoble prize for their speech jamming device which echos your voice back to you with a slight delay. i'm not sure why you'd need that but just in case. >>> the giants crush the panthers. tiger ties for the lead. and two major league teams clinch playoff spots. >>> plus, a grand slam blasts the yankees into a first game one place lead. your first look at sports is

>> i think you can take rim and hewlett packard and put them in the same camp as two companies killedple. >> double dip? double dead. >> who is bringing real estate mojo to some of the same companies? we're talking global real estate right after this. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. [ male announcer ] fedex office. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and

companies such as microsoft and hewlett packard have shifted profits offshore to avoid paying billionsdollars in taxes. microsoft shifted assets to puerto rico and abroad, saving more than $4 billion in taxes. both companies say they are complying with u.s. tax law. democrats and republicans have been at odds over how to stop companies from stashing profits abroad tax-free. new evidence the economy is continuing its slow improvement. the federal reserve says the net worth for many americans is rising. the increase is being fueled by rising home prices and improving stock market. the fed hopes that could be enough to get people and businesses to spend and ultimately boost the economy. >> thank you very much. straight ahead your friday morning weather and in sports a nearly 80 year wait is over. they will be watching playoff baseball in the nation's capital this year. seball in the nation's capital this year. i don't have time for the flu. that's why i'm knocking things off my to-do list. vitamin d, done! hand sanitizer, done! hey, eric! i'm here for my flu shot. sorry, didn't make an ap

companies such as microsoft and hewlett packard have shifted profits offshore to avoid paying billionsdollars in taxes. microsoft shifted assets to puerto rico and abroad, saving more than $4 billion in taxes. both companies say they are complying with u.s. tax law. democrats and republicans have been at odds over how to stop companies from stashing profits abroad tax-free. new evidence the economy is continuing its slow improvement. the federal reserve says the net worth for many americans is rising. the increase is being fueled by rising home prices and improving stock market. the fed hopes that could be enough to get people businesses to spend and ultimately boost the economy. >> thank you very much. straight ahead you're friday morning weather and in sports a nearly 80 year wait is over. they will be watching playoff baseball in the nation's capital this year. i don't have time for the flu. that's why i'm knocking things off my to-do list. vitamin d, done! hand sanitizer, done! hey, eric! i'm here for my flu shot. sorry, didn't make an appointment. well, you don't need one. whether

hewlett and packard, the people who started silicon valley.ionship. >> i still want to go back to why it costs so much. i still would always -- your hand vibrates when you write the check, why it costs so much money? >> i think there are two factors. there are two factors. the first is we're a service industry. where wages drive costs. what's happened is we have highly educated people who are well paid. costs go up in the same way they do for legal services, medical services, dental services. the second factor which many americans are seeing is the reduction of the state subsidies at the public universities have meant that tuition has to make that up. that money has gone down. where does it come from? tuition. that's been seen in this mass of increases in tuition. >> back to all the people and the endowments you have. are you unique among university presidents that you sit on corporate boards? >> no. a number of other university presidents have sat on boards. >> what's the benefit to stanford of you sitting on a corporate board? >> i think one

and your bloomberg silicon valley index closing lower with apple and hewlett-packard pulling the index down. and there is space ex and nasa set sunday, october 7th the target date for the launch of the first contracted cargo resupply flight for the international space station. and this is the first of 12 flights and the there is a successful trip to the stations this year, tu. >> tomorrow's release of the iphone 5:00 is prompting warnings about text neck, the term for neck pain and headaches related to posture using a mobile device, there is a app to remind users when they are, or not using good post you're. it's now available for an droid phones. recommends keeping your head from leaning forward, feet on the ground and also take and take braks. >> spencer christian is back and and it's cooler. >> and as we head towards the first weekend of fall there temperatures changing and there is weather to tell you about and is a is a preview saturday. san francisco, sunny skies and you'll see that we're enjoying nice blue skies and temperatures into low 60s now up to the mid-80s inland. some ar

so we are a real engine out here in terms of the silicon valley and hewlett-packard and apple and the things we're doing. it's a choice. that is a wonderful choice that at the end of the day the vote and the people is the voice of the people and the voice of god and take the money from those who have more than we can imagine and give it to the schools or not and whatever it is, i will manage it, and we will make it work. one way is better, but whatever the way that the people decide is the way we will go and that is the way it should be. >> i know i might not be asking this precisely, so yes, california has faced deficit problems before you. it has had money problems before you and i guess that my point is that if you are looking at a state that already has the highest state sales tax of any in the country and in the top three of the state income taxes, and you want to raise it again, isn't the fact that you have had the deficits to contend with show that you are not growing the economy with sales hikes which is essentially, sales tax hikes or income tax hikes which is what the republ

hewlett-packard's labs. hp labs. this is a rare inside the scenes look behind-the-scenes look of what is going on at hewlett-packard ande do have the relatively new, coming up on one year, brand new ceo, meg whitman, embattled. it has been a tough year. she is trying to turn around this company. it is a fox business exclusive. we'll take up inside hewlett-packard. we'll also show you the garage, yes, more than 70 years, hewlett-packard started in a fwa raj. we're going to take inside. all that and more, david, coming up tomorrow on day two of "3 days in the valley". david: i want to make sure i understand the getaround. that means i could actually rent your car while you're working in the 3:00 so i could tool around from 3:00 to 4:00 and make it here? liz: yes, yes if i may me enough. david: not doing it for 50 bucks an hour. that is for the tesla. you don't have a tesla yet, do you. liz: not yet. i want one though. david: liz, thank you very much. liz: okay. david: we'll see you. the u.s. credit rating is at risk again but moody's says there is still a way to get the country back on track. we have the details on what

and dell and hewlett-packard and others have a bunch of great pcs out there. this certainly good news with intel on nuance inclusion. >> murphy, you have a trade on nuance? >> i think nuance is still expensive. stay away from it tlment are better ways to play the iphone 5 like a taiwan semithat is a lot cheaper. can you get a better pop. >> if you look at the stock over the last few years, it had a series of higher highs. it has the pull back that's are extraordinarily painful. we're living through one recently. then it just continues to ratchet higher. this is one of those names. valuations can be stretched. these stocks go higher than you think. i think this rally continues. >> nuance is siri, right? >> part of it. >> i wonder, you know, if iphone 5 come out and siri has been ridiculed by a number of corners. but if it's better, right, marketedly better, does the stock get a pop as a result? >> like a sexier voice type thing? >> look, i don't know -- >> for me, you folks know i don't use this stuff. but to your point, i think if it's marginally better, yeah.

your bloomberg silicon valley index closed higher, sales of apple, yahoo and also hewlett-packard pulling index up. and an investment group is buying dick clark productions. the producer behind new year's rocking eve, golden globes and more. gugen him's partners are buying the company from red zone capitol management for an undisclosed price. the company founded by dick clark, who died in april. >> and at bloomberg studios in san francisco, larry, back to you. >> thank you. >> and let's take a look weather now with spencer christian. >> there are storms. >> yes. yes. and there is some subtropical system that's sizzled to the south. this could produce interesting factors here, let's take a look at conditions ahead of possibility of thunderstorms. there is western skies you can see sutro tower is approaching the coast in the city but pushing across the bay yet. there is a radar image of the fog along the coastline. there is right now sunny skies around the bay, and in our inland locations and you can see from golden gate south, the fog is pressed up against the coast. northward there is an

and the c e l of pandora. on wednesday a look inside hewlett-packard and talk to the ceo meg whitman. on friday she is talking to the innovators of slip board along with decisionmakers from sony bloggers electronic arts and stand this. though the your stocks right now. the forget three days in the valley with liz claman does start tomorrow throughout the day. wants to let you know. global financial partners capital portfolio manager and managing director back with more investment ideas. we were talking in the break about a lot of people nervous about equities. there are stocks you like. >> look at natural gas plays. it will create a ton of jobs and one of the ways conservatively to play it is true in energy. gives you a yield of 7% and natural gas over the next five years has a small increase they will be at the forefront of being able to profit. cheryl: they hit $40. that is the high over the last year so it is at the top level. would you still buy it? >> absolutely. it has a boring pattern to it but the yield is what makes the stock. cheryl: boring could be good. i was curious about

to announce today that in partnership with sf-city and one of the key members, arc-touch, and h.p., hewlett packard, we have formed a two-phase project that will address something that we have identified for many years that has hampered our police department's efficient use of time. one of the things that the street officers do on a daly basis is they have to write instant reports and get the data to do their job. most of that is done by the officers leaving the streets and returning to their stations or to the downtown office to access the ready computers that are there so they can get the data there. we don't have the mobility, if you will, to have the officers access that information while they are in their cars or on the streets. so in a two-phase process what we are doing today is announcing a partnership with h.p., who is donating some 60 of the initial first-class laptops to be used by this particular class to train them, and sf-city is donating $100,000 in that effort with the whole training program. combined they are working with arc-touch to develop application soss that once these office

two biggest tech companies in america are ibm and hewlett packard. e list. and it was a pretty easy call because ibm is actually worth, in terms of stock market value, ten times what hp is worth. >> interesting. >> surprising. >> so you have a woman named phoebe novakovic, named the ceo in general dynamic. in her field it's really, really overwhelmingly male. >> honestly, we don't know everything about all these women. this is one of the questions we have. we have three women in defense on this list, which is amazing. two women from lockheed martin and phebe novakovic. our most powerful women's summit coming up, and we have a panel on this. some of these defense women are on a panel, asking how are you able to navigate in the ultimate male industry? >> she is mentioned as the coo of general dynamic. gisel ruiz? >> highest ranking member on the list, coo of walmart's u.s. business, a $265 billion business. a young woman. we have seven newcomers and two returnees on the list. she's the highest ranking newcomer. >> you've been doing this 15 years. what's

as you have seen, with hewlett-packard and others that you have talked about on the show, they are laying off people. if you want them to higher or rehire employees, you can't do the same old thing that we have seen for the last four years. neil: well, that's a good point. a guy that had a four-point oh in college. it is always good to see you, sir. >> thank you for having me on the one is mitt romney's problem not with swing voters but with tea partiers swimming away from health care comments? dan fell telling me earlier that the tea partiers have it wrong. >> do think the tea partiers hurting the party? >> i think that they are in the right way, but when they started going after mitt romney saying that he was flip-flopping, that he is not one of us when he said that pre-existing conditions office today, that is replacing the obamacare. neil: carlos gutierrez. i always think when poll numbers look bad, people say it's your fault, it's your fault. what do you think is going on? is there a rumble on the right? >> no, not at all. the interesting thing is that mitt romney has always said tha

and a some drive. they also connected to know bookstand more bullets. i spoke with several people at hewlett-packards due to show up that tuesday and no one wanted to go on camera but they all found the fact that he was driving to work with a loaded gun in extra bullets very disturbing. fivefive >> the memorial service for the officer will be thursday morning at 10:00 a.m. at the mission church on leisure town road and vacaville. the service is open to the public. here is a look at the vacaville. just north of fairfield. the church is just off of interstate 80. here is a closer look at the location. leisured town road is the main roads to the church. green tree golf course is just to the left of the church if you are familiar with it. expect slow speeds, delays and heavy congestion along leisure town road. you can watch the thursday morning funeral on our 24-7 news channel, comcast channel 193 or a live stream of the service on www.kron4.com. it is being held at the mission church in vacaville. the start time is 10:00 a.m.. >>pam: the american ambassador to libya has been murdered. some speculate fo

some of this country's most well known companies including microsoft and hewlett-packard are being accused of skipping out on their taxes. >>> jpmorgan today, basically saying there is going to be a melt up between now and the election. and they have some pretty lofty numbers. why? find out. >>> and we're going to talk wliv with one very influential member of congress who wants to put a cap on your capital gains taxes -- forever. a lot of people think that that's a good idea. we'll talk about that in a minute. >>> first down to simon at the nyse. he's my partner for the next couple of days. >> in just a short while members of congress will start a hearing on whether major mesh corporations are skipping out on their taxes. >> reporter: the hearing gets under way in just about an hour. we're already seen the report from senator carl levin. a democrat. head of the senate permanent subcommittee on investigations. senator levin said that he found significant abuses inside many american companies. >> multi-nationals have avoided billions of dollars in taxes using these offshore gimmicks. they ha

companies including microsoft and hewlett-packard have shifted profits offshore to avoid paying billions of dollars of taxes. microsoft shifted assets to pr saving more than $4 billion of taxes. both companies say they are complying with u.s. tax law. democrats and republicans have been at odds over how to stop companies from doing this. in the us something about that doesn't quite sound right to me either. $4 billion. >> are you ready for the weekend? >> i am ready. >> we have a nice weekend? >> the first weekend of fall, temperatures will start to warm up just a little bit, patchy fog outside, some good news as you got mostly clear skies and some of the valley's. some temperature's down in the 40's. 60s out towards much of the coastline. it will be a short morning trend today and probably tomorrow start to cool down the temperature's once again. 84 in morgan hill, 62 in pacifica. numbers popping back into the 80s in to try valley. 75 degrees in vallejo. as you make your way inside the day, looking good. about 81 in santa rosa. the next couple of days we will keep the temperatures up ju

this is actually a hewlett p hewlett-packard grandchild. >> and people don't care about cash flow until after the fact. >> since we've got you here, why don't we talk about netflix, it's tanking today. >> amazon came out and said they signed a deal for content with epics, netflix had had an exclusive deal with. the key word is competition. what competition is will either make or break the netflix store going forward. right now, it looks like it is breaking that story. today, we talk about amazon getting epics. a lot of talk about apple next getting epics. that means amazon prime and possible itunes customers have one less reason to use netflix. long time netflix bear tony put it best this morning and told me the next guys in the business do not need to make money. they can use this as a loss leader, like walmart selling dvds at a loss to get people into the store. netflix is collapsing margins by the way and they are collapsing tell the story today. >> and the stock reaction tells it as well? >> epics is part of viacom. >> i actually do not know who epix is. >> they provide popular movi

. >> and there is hewlett-packard ceo meg whitman says hp is developing a new smart phone with tablet devices moving to focus on more hand held technology is among the first decision autos i had a tough decision to make when i'd been here just 30 days which is what to do. i said i don't want owe-to-shut this down. i want to provide this as open to the development community. so far, so good. >> whitman says does it not appear more layoffs are necessary. and the latest round of restructuring. >> coming up at 5:00 magic kingdom lifts an alcohol ban with restrictions. >> and type of x ray that's could increase. >> ask a muni rider wants to find a driver who found his precious jewel autos we're heading into the last weekend of sure. i'll let you know what this will feature coming up. >> ne >> university of california will pay damages to pro testors pepper sprayed by police last year. this video shows them spraying in the face. and terms were not made public and a damage has to review the matter. >> construction at sfo could cause traveling delays this weekend. one main runway being shut do

the combination of apple's momentum compared to dell and hewlett packard, with nothing to talk about,rankly, but firings is devastating to tech investors. these value trap -- that doesn't trade the negative equation. in the old days, there was always semiconductor sets that we were buying. you want amd? good luck. numbers coming down, micron, fool me once, shame on me, fool me twice, how about fool me dozens of times. texas instruments, boosted a dividend, already, but it's also struggling to make the numbers. they sell them to communications, that market has become very spotty. despite the need for more chips for smaller and smaller cell phones which leads us to qualcomm. sirius, the sound chip company has just rallied like crazy, 170% for the year, hardly undiscovered. i actually think qualcomm can be bought. still, even if you kept with the apple trade, skyward solutions and apple supplier got hit hard today, because word has it that it doesn't have enough context in the iphone 5. apple doesn't use them? all you're doing is playing a moment supply demand in balances for those compa

. >>> more bad news coming out of hewlett-packard, and has the taliban figured out facebook?ake a look ahead in business news. [ male announcer ] with all your car does for you, he really wants to hear those three little words: chevron with techron. care for your car. i've never written a fan letter before, but you've done what i thought was impossible: you made good-for-you, gluten-free cereals in a whole bunch of yummy flavors. cinnamon chex and honey nut chex are two of our favorites. when my husband rob found the chocolate one, we were in cereal heaven. the only problem is, with so many great flavors you're making it very hard to choose. so thanks. from your fans, the mcgregor family. 'cause we love chex. [ male announcer ] love chex? connect with us on facebook. >>> welcome back, everybody. 6:44 right now. on the eve of september 11th, secretary of defense leon panetta visiting the flight 93 memorial today. panetta will get a private tour of the site in shanksville, pennsylvania. vice president joe biden will join him tomorrow for a ceremony to honor the victims of the 9

intel unveiled a new semiconductor for tablets, counting hewlett-packard, dell, and samsung among its customers. intel has been criticized for not moving faster into the tablet space. tomorrow is the end of the calendar third quarter, but we're seeing a handful of companies turn in their fiscal quarter results. discover financial found more customers were using their charge cards. earnings were stronger than expected acustomers used their discover cards more and credit card loans increased. shares responded up rallying 7.3% on heavy volume. this is an all-time high for discover. meantime, nike saw a more muted reaction to its quarterly earnings. nike shares were up a half percent. they were at an all-time high in may. earnings were a $1.23 per share, 11 cents better than estimates. but they dropped from a year ago. one concern highlighted by analysts is nike's global future orders, a sign of sales to come. they showed the smallest gain in almost three years. a mattress merger was in focus today. tempur-pedic international will buy competitor sealy as it looks to expand its product lin

and in the next few months. yes, the innovative companies are small. the electric cars -- the tanks are small but so is fairchild or in tal or hewlett-packard -- intel or hewlett-packard or steve jobs. the seats we plant brings the vast forests of new products and new technologies and new patents in the future. that is where we have to -- we have to keep our eye on the main thought here. that is the discipline, the imagination, and the investment. that is what makes california -- that is why people are still coming here. they're not staying in colorado, i am sorry to say. they're right here. [applause] >> just briefly, setting aside plunder for a moment. >> i am sorry about plunder. it is a big part of wealth creation. >> could you talk briefly about your turn initiative? >> it is going well. mike rossi is leading the charge. i have met with what i think will be the next president of china. we have delegations from china to come here. we're sending delegations there. this is not just business as usual. we're getting detailed

and knows they need changes. right now tech is dominated by intel, microsoft, hewlett-packard and google.f 30 components levered to a slowly dying form of technology that makes no sense to me and creates a painful irrelevant venice for the index. ibm can still be considered a decent portion of the economy, but cisco is the internet chit in the dow, and that makes no sense. we are well beyond cisco these days. the inclusion of an apple or amazon or google would bring that index into the 21st century, as it should be. of course, if you think the dow already has too much tech, as antiquated as that tech, particularly hewlett-packard might be, why not choose wells fargo? it's one that controls 30% of the u.s. mortgage market. you want a stock that represents the drive in the economy or not. i know i'm playing a parlor game here, but chances like kraft don't come around very often. and when they do, the keepers of the index should rise and not fall to the occasion. stay with cramer. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be si

avalanche google and hewlett-packard. and data forms. and hard drives.ess is booming at seagate and low expectations way to get in on the smart phone craze. [talking over each other] >> back in the newsroom with more on banc of america. >> denial service attack on their web site. and claiming to be allied with muslims, for the attack. and the recent film mocking islam targeting the stock exchange, and sending it back you. [talking over each other] >> following this for the rest of the day. liz claman will take you through the last hour of trading. winkelvoss twins talking about the new social network investment. count down to the closing bell is next. don't go anywhere. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally.