in and where their investing and losing money they could be investing in companies that sell tobacco or arms or companies that damage the environmentalist or countries where their politics are not in the best interests of our country it is being proposed up to $3 billion of our pension money to be invested in the hedge funds, however, many investors have pulled out so why we would we want to invest in the funds that are not turning a profit and no so unknowing,able your entrusted with our pension money we've worked hard for and we ask you to not invest our money in hedge funds thank you (clapping.) >> my name is silva alvarez i want to before your accident the poison pill that was in approximate that was passes one any shortages to this retirement fund the san francisco tape recorder as well as the active employee in the retirement system will have to increase their contributions and number two just for clarification commissioner stansbury is it true you neglected to attend the meeting of the san francisco retirement board while you were arresting a sill certainty public defender com

the city of san francisco has a policy they don't want to invest in fossil fuels when you vote to invest in hedge funds they are investing no fossil fuels nerds they can violate the city and county of san francisco rules and lastly officer is being suited by a black officer in the city and county of san francisco who arrested a fellow public defender who was defending african-american clients and sued her of agreeing what's the pension board is supposedly representing the city workers for doing her job when he should have been in a hearing instead arrested a city employee you should recuse users and not be talking about this we have to stop the hedge funds slchlt and most of the employees are hurting they can't live in san francisco we need to protect our hedge funds and protect the public and we don't have another bust of our pensions thank you (clapping.) >> good afternoon tom o core president of the san francisco firefighters this is a tough act to follow i'm not here to to personal acquisitions against the board i'm here to say thank you for the excellent rate of returns we've receiv

is the and does this corp headquarters pay taxed do they invest in the u.s. and economy are they good corp citizens those are questions you should look at when you decide invest thank you. (clapping.) >> thank you very much. >> thank you good afternoon my name is rebecca resign with the municipal executive association thank you for the opportunity to address you first of all, i want to talk about the collective issue i think it is the most important basic concern about their retirement terms of the pensions and health care i want to acknowledge that there's no easy answers to the decisions i share that angst what brings me is any equal angst when i hear and read our consultants analysis that we're in a worse position today, if something like the downturn in 2008, haepdz and we were in 2008, that makes me extremely concerned and so whatever i have something complicated in front of me i try to make the best decision it means gathering information and what the nba believes in and what months thoughtful people understand when you have complex issues i want to not

in terms of contracting investment. if we don't address the issue of infrastructure, the transport, energy, and other infrastructure product. usually it takes us a long time. in the case of rwanda the infrastructure is part of the budget because in the case of rwanda from one of the biggest as you mentioned was the one of energy. and energy is so huge that once you take it into account, it's a course for anybody. we need to have a clil og. usually the hydro. the power, same regards to power. we have had domestic projects that are domestic in nature. we needed to - it can never be sufficient the resources, no matter how they treat the budget. it cannot be enough. going to the generation. so that the distribution part is not done by the government. but providing as much information, as much incentives to the private sector. for the road transport, the government has been borrowing to fill the gap. we are talking to the private sector to see how they come in. especially for the road toll where they can invest ahead of time

there are places we need to invest and that means investing , in our service people and it means investingn making sure that our technology stays ahead of other countries whether that is in space or other research and development. so there are a number of places we recognize that and that's where you see the 37 billion-dollar increase in 2016 for the defense budget that really focuses on where those needs are and keeping americans safe. >> jim. >> sicilia, i wanted to ask about the $1 million being sent to the central american countries to address the issue that happened last summer with the immigrants coming across the border. the biggest problem people in the and the government talk about is government corruption. what is the united states going to do to protect that to make sure that it doesn't appear in swiss bank accounts and actually helps the people? >> i will tackle this but on the reminder that i'm also a domestic policy adviser. the focus is going to central america both to improve safety as well as development. when you hear the vice president talk about it he talks in strong ,

in terms of contracting investment. if we don't address the issue of infrastructure, the transport, energy, and other infrastructure product. usually it takes us a long time. in the case of rwanda, the infrastructure is part of the budget, because in the case of rwanda, from one of the biggest as you mentioned was the one of energy. and energy is so huge that once you take it into account, it's a course for anybody. we need to have a clil og. usually the hydro. the power, same regards to power. we have had domestic, projects that are domestic in nature. we needed to - it can never be sufficient, the resources, no matter how they treat the budget. it cannot be enough. going to the generation. so that the distribution part is not done by the government. but providing as much information, as much incentives to the private sector. for the road transport, the government has been borrowing to fill the gap. we are talking to the private sector to see how they come in. especially for the road toll, where they can invest ahead o

a grandparent can invest from the start. file jointly, you can contribute $145,000. and then you cannot contribute anything over the next five years without getting hit with the gift tax. but once you drop that am of money, you do not have to contribute. you want to get the money in the 529 as early as possible. that is because the greatest of the plans is all about the power of compounding. you do not pay taxes within the 529 the. so if you can get $70,000 off the bat and you invest it in a low cost indux fund you will make an average of 8% per year. i know the stock market is more volatile than that. a as a thought spermtd. if a to be performs like they do historicallially. you can double your invest in nine years. by the time the child is 18 it will have doubled and doubled again. if you started with $70,000 and after 18 years, barring a catastrophy, you will have enough to pay for a good school. it's worth keeping in mind that front loading as much as possible is indeed the best strategy. and tore grandparents this could

do you think companies will start investing in japan again? >> i don't think a trend that is going to be changed. investment started to shift in some extent to japan because they started to increase in production in domestic production. however, this was not increase enough to invest because domestic demand is going to be shrink because of the democratic reasons and also becoming the issue for labor shortages. >> so for companies overseas markets is more attractive than here in japan. what about your prospects for 2015 bye-bye how do you look at japan's economy? >> we expect japan economy to be more growth in 2015. our focus is this year. the global economy 2.7% in 2014 and the increase in 2015. export adds to that growth. the shift from the production to domestic production will contribute to some extent. >> please stay. i want your view on our focus report that's coming up next. >> all right. >>> one man taking a close look at japan's gdp numbers this week was the governor. he's a person responsible for putting economics by launching an ultr

i want to emphasize again every investment in the budget both discretionary investments made possible by reversing sequestration and new and expanded tax credits for middle class and working families and mandatory investments that will expand access to community college and preschool, all of them are fully paid for through spending or tax reforms. meanwhile budget also achieves additional $1.8 trillion in deficit reduction in the budget primarily focusing on the key drivers of our budget challenges health care cost growth and inadequate revenue levels in the face of an aging population. specifically the budget includes about $400 billion in health savings that build on the affordable care act including measures that compliment the administration's other efforts on delivery system reform that secretary burwell announced last week and will help maintain historic slow down in health care cost growth and improving budget quality. it raises $640 billion in net revenue from deficit reduction. this reflects the president's support for common sense comprehensive immigration reform along the l

funds and the beneficiary funds you're playing a loser game but that's the investment community fault they're not providing you pension funds america with an adequate product that's - >> thirty seconds. >> i have a dilemma with not easy solutions right now (clapping.) what is your last name. >> david williams. >> just for the record i once ran a hedge fund and anti performed it in 3 years. >> what's our name. >> john. >> thank you. >> david williams with the retirees thank you for listening i'm very proud of any members of 1023 one and have talked about he they feel will the hedge funds plan it is seemed to be recommended about the risks and the fees the need for transparent about the feeling they're not been due diligence that this whole mechanism of determining the asset allocation has been taken with blinder on for the last six or seven months and the lass lack of controls with the board and the hedge funds will have and the investments and fear that groups on the table like elliott management and the people he deals with that will invest their money against the unions and against

high policy this hedge funds we lost $60 million there was no due diligence on the $750 million investment so that's what i have to say thank you. >> thank you (clapping.) >> good afternoon commissioners my name is david i'm the san francisco regional director for the local 1020 i'm going to read to you a letter that was sent two days by the local president roxanne she writes bear patrol cars i'm writing on behalf of the santa fe's by the 1020 local and the retirees that had their retirements is secured by the board the board failed to explore the option to achieve the interest in the funds and protecting it against down side leaving the union 1020 no choices bus to allocated the funds to hedge funds we've you turned out in numbers and signed petitions before you to competence the well founded concerns the risks southern direction with hedge funds and the allocation process and the lack of transparency associated with the process and the failure to respond to the questions about the risks and other issues raised in our july 8th letter in our view the staff and consultants have failed to pl

america's railroads invest more than $25 billion annually. for the last six years we've also been investing in a key safety technology known as positive train control or ptc. ptc is not a single system but rather a large number of subsystems linked together designed to stop a train before certain accidents occur. the act of 2008 requires rail ways to install them by the end of 2015 on main lines transporting passengers or toxic materials. trains traveling beyond the reliable speed, authority trains traversing a misaligned switch or entering a work zone and must be able to determine the precise location, direction and speed of trains, warn train operators of potential problems and stop the train if the operator does not respond. this is not an easy task. such a system requires the creation and i do emphasize creation of highly complex technology that's are able to analyze the many variables that affect train operations. as you can imagine the length of time depends on the train's speed, terrain weight and length of the train number and distrib

i can tell you this, after eight years of investing in america not spending overseas, but investing here in america, after eight years you'll see people , off welfare rolls, on payrolls . after eight years of investing in america, you'll see disabled americans working beside, traveling the side, living beside playing beside other americans all across his land. after eight years of investing in america, our cities and our neighborhoods will be safe again so your kids can have a new super route and deliver newspapers without having fear for their lives. after eight years of investing in america, you will see german newspapers, japanese newspapers, with articles an entitled, "what we can learn from the americans." [applause] after eight years of investing in america and in our people, we will have greater opportunities for women and minorities because there will be enough jobs to go around. [applause] i mean good jobs. i mean jobs where you can work and make enough money to raise your family, hedging your kids by home, buy a car, take a nice vacation, retire and dignity with good health car

money they're exactly like us they don't invest to lose money and start relationships to lose money fits not just the endouchlt so i can't breakdown what they do in terms of of equities it's not just them look at what another innovates have done be orange county and utah and others where they're doing infrastructure on one big union infrastructures are good we've done some but infrastructures are more expensive than hedge fund and extremely liquid hedge funds your money will be 4r0k9d up for a year but equity money is locked up for 10 to 15 years we like it but there's it's not a reflex but you have to understand that's one of the go problems every area has picking up it's pros and cons investing in choip was great and europe and united states is great but you have to understand the problems that go along with it you can plan according how much 4r0ik9 liquidity do we know the degree of the liquidity we asking can add more money to reduce risk which i believe mr. cokeer was trying to do when 33 he showed us this in may i apologize we haven't had more meeting but only two citizens sho

cal percent and ted opening lose so the chief executive officer said there were recommendations to invest up on 3 occasions so again, a group made a decision your supporting the facts and omitting the vague facts that go against it is an important issue to come up with i wanted to mention end with the actual recommendation and find errors in that let me talk about our common ground staff agrees that we hold two many bonds bond are 2 or 3 percent do we have risks to the bonds so the genesis for those recommendations i think are june win we all have anxiety about the market declining but in terms of of the publications and all the print it is a peak to trough to climb just our fund dropped if over billions of that's a peak to trough analysis obviously in hedge fund you're giving up some everyday to have protection on the downside i think your exaggerated when you look at the peek to approve u trough analysis we've heard about the hedge fund over the lutheran how do you know if you've been successful how do i know if you've been successful in depending on the hedge fund regarding again, i wa

i want to emphasize that every investment in the budget, including both discretionary investments made possible by reversing sequestration and mandatory and tax changes are more than paid for through spending and tax reforms. for example, the budget would provide new and expanded tax credits for middle class families and would more than pay for these investments by reforming capital gains taxation and making it more costly for the biggest financial firms to finance their activities with excessive borrowing. it also uses one-time revenues from pro-growth business tax reform to pay for an ambitious six-year surface transportation proposal that will give states and localities the certainty they need to invest in infrastructure that will spur innovation and accelerate job growth. meanwhile the budget also achieves $1.8 trillion in deficit reduction, not including reductions to oco primarily by focusing on the key drivers of our challenges. health care cost growth and inadequate levels in the face of an aging population. building on the historically slow rates in years that have significant

if consumption goes down investment goes up. if investment goes down, consumption goes up.re would be enough total demand to sustain full employment. what keynes pointed out was that both components might be going down, not a little and temporarily but massively and persistently. this was really a huge idea. namely the total private demand demand for both consumption and investment goods might be insufficient to sustain full employment. this total demand might be so weak that we might have what we did have-- the great depression. talk of revolution filled the air in the 1930s. the debate raged hottest on college campuses. surprisingly, the idea that changed the nature of capitalism forever came not from the left but from t the right. not from those who would vanquish capitalism, but from a man who would vindicate capitalism. he was john maynard keynes. in the 1930s, his ideas spread from cambridge, england, to cambridge, massachusetts, to a generation of young economists waiting to spread the message. franklin roosevelt wasn't a young economist but the leader of a nation wi

>> as for all the other managers. >> again your hedge fund program is not flushed out if you invest in funds you will have the guidelines that apply to those 0 fund if i invest in separate accounts you can direct the managers precisely. >> so the fund of one structure and the larger amount of money we e money we have the more likely to be successful at negotiating funds of one where it's our fund pursue. >> if you don't mind so if we did a customized account we'll negotiate it. >> - >> sure. >> absolutely is it better. >> so if you go like this it's better. >> sorry then it's far away from me. >> so the chief investment officer are those the things we'll negotiate in a customized account. >> and . >> number 4 will hedge fund managers provide gifts that is the global standards i have a standards for the csa regarding performance that are provided and it's the gift compliance we want to make sure the performance numbers save this will the hedge fund managers satisfy global investment manager performances? >> i think in our experience gift gifts was developed for merchandising that manage

i've been investing in real estate for 30 years. it's so refreshing to learn from someone that's doing the business at such a high level in today's market. >> if you truly, truly want to change your life, to take control of your own destiny, to be in the driver's seat of your life, do it. do it now. >> i bought five properties. i've wholesaled three of those properties. i've just finished my last -- my first flip, and i'm holding onto one piece of property as a long-term strategy. go ahead. take this step. it's a leap of faith, and you will not look back. it will change your life forever. >> announcer: if you're looking to make more money and take control of your personal and financial future, then get ready, because than merrill, the star of a&e's hit tv show "flip this house," one of the most successful real-estate investors in the country and america's number-one real-estate-investing expert has one heck of an opportunity for you. than is hosting a one-of-a-kind free two-hour real-estate wealth-building workshop where you will le

is growing this critical source of investment. our port capital dollars have been a very, very small source of the overall capital 10 year plan of spending. tes a small source. it's grown, it's now up to 18 percent of the total identified sources, but it's the source we can totally and fully direct to our needs. it also represents 30 percent of sources for capital repair to meet those really really critical needs. so the careful management of holding down our operating expenses, combined with growing and allowing us to utilize more of our funds for capital investment is growing this really really critical source of revenue. and the capital plan has guided over $220 million of investments since 2006, which is extraordinary and that doesn't include the private side. on the opportunities side, we will reach our hundred million revenue goal next year and that was a stated commission goal and we're going to hit it so we're very pleased to report that. in the base scenario for the port, we meet our operating policy, we meet our base pol

> you're not making a common stock investment.bably going to get your money back unless it's a complete disaster. the valuation calculation is different. >> on one hand you could say it's better that these companies are raising money private thely because that way the public investor is shielded from any potential downside. on the other hand you can say look at how much wealth was created from the people able to buy into apple, buy into google, amazon as early stage public companies and ride where the stocks have gone. >> i think it's terrible for public investors investors in general and part of the issue is whether you want to construct your public market and investing is something where everyone has to be protected, or whether you want to give adults the opportunity to come in and speculate, make risky investments if they want on their own and as you say, amazon went public at $500 million. that would never happen today and look at all the money that was made at 500 to 25, facebook when they went public most of the growth was o

third, ensure robust public investment in all modes. where public benefit is derived public investment must be made. often public assistance is needed to close the funding gaps. examples are high grade rail access existing transfer facilities, tunnel and bridges for port access and border-crossing capacity and enhancements. finally, modify the national freight transportation policy to make it multi-modal. create an office of intermodalism in the d.c. office and give it the attention it needs in this country to keep our economy healthy. thank you. >> thank you very much. we will begin with a first round of questions, five minutes. i will start. mr. bessac you talked about competing in a global market and the effect that has. being with cargill and the emphasis you have with port can you tell me what percentage of pork in this country goes for exports? >> certainly. senator, pork is much larger than beef, about -- between 20, 25% depending upon the year and about 10% of pork. i'm sorry; 10% of beef is export exported exported. >> and when

and that means investing in our service people, it means investing in making sure our technology stays ahead of other countries, whether that's in space or other research and development, so there are a number of places where we recognize, and that's why you see a $37 billion increase in 2016 for the defense budget that really focuses on where those needs are and keeping americans safe. >> all right. jim? let's get a mic down here. >> thank you, josh. cecilia, i want to ask you, if i could, about the $1 billion being sent to central american countries to address the issue that happened last summer with the immigrants coming across the border. when there the biggest problem that people who are not in the government talk about is government corruption. what is the united states going to do to protect that billion dollars to make sure it doesn't end up in swiss bank accounts and instead actually helps the people there? >> i'll tackle this a little bit, but with a reminder that i'm a domestic policy adviser, so i will also turn to my colleagues. the focus of the people in central america i

this fund will provide the system r with fantastic global on turnoff global and the opportunity to invest with them 0 peter. >> hi commissioners so what give us the commission to recommend this money to the on turnoff real estate funds asz over a 25 he year periods one .7 multiple pretty much puts them in the top level of many on tusk real estate managers they focus on and the management to drive the creation across everything they do and last but not least they are the only remaining what's called a scale player in open you tusk playing this is the financial crisis and this is a tremendous advantage sometimes the deals are two big or complex i'll pass it over to cambridge. >> thanks i'll reiterate everything it art and peter said regarding black stone they have an un34r5er8d real estate team in the entry a way to leverage the black stone that helps to generate the information flow to trj of the trends as peter men's their size coupled with they're built to act quickly is a true competitive advantage and consider large portfolio investments that others can't and they have the ability to e

we have not revitalized it without public and private investment. the critical piece of the process of this renovation was that it was all about the community. we reached out to everyone in this community. we love this park dearly and they all had thoughts and ideas and they wanted to bring their own creativity and their personality to bear on the design. what you see is what the community wanted. these ideas all came from the residents of this community. as a result, there is a sense of ownership, pride and responsibility that goes along with what is going to be an exciting park. .

that is anti-capital investment policy.rs me a lot more than that. >> sharon get in here. let me give you the last word as well listening to some of the concerns that have been raised or haven't, frankly. your point about the extent to which this maybe hurts some of the smaller guys by driving some of the business out of the market, how serious a concern is that? >> it's not a serious concern i have but it's one many financial services firms have raised. the real issue is yes, consumers are educated but they need to be better educated. talking about a fiduciary versus suitability standard is way over the heads of most folks. bottom line of course they need to figure out how their adviser is being paid ask them if there's any conflict of interest, ask those basic questions to find out if it's the right before for you. you may be getting fine advice or fine investments rather from your broker but the advice that you need for wholistic planning may not be what you're getting there and that's what investors need to understand i

when you invest, are you looking for the quick pop or do you want to invest in a good company?difference. i got a great tweet on this. something i want to share with everyone because there's a major difference. a lot of people want a quick pop, and they tell me they're investors. not always the same thing, guys. ♪ ♪ charles: all right, guys. time now to answer your questions on the market. curious about an industry, individual stock, or a strategy, ask me. that's exactly what jim did on twitter. how can someone decide to buy amazon instead of apple yet apple trades 16 times below the s&p average. and amazon every now and then makes money. i know exactly where you're coming from, jim. for me, the real question is, are you investing in a great business, or are you investing in hoping the stock pops tomorrow? because essentially, a lot of people tell me they're investors and they do the exact opposite. i love your way of thinking. i love the idea of investing in a great business. and i worry about near-term shenanigans. every now and then people may miss by a penny. apple was down

this goes to the robustness of a special will consultant or specialist fund to fund because the investment due diligence is something you know we can do but it is the operation of due diligence you know the guts of you know the evaluation and the like this is very important that's where i think another value added in a specialist is very valueable. >> do you have a cpa. >> no. >> i want to ask that we have a question one question respondent to the risk agree incubator to identify the "x" powers to identify the positions portfolios of company is in essence the way i interpret that you're not going to get the holdings or the contributions buy the risk holders so number one you can talk about the risk agree gate if you members of the public know what's going on. >> risk aggregation in fact to the exposure are two things the risk ago gator they'll take the holdings of the managers and put them together and show you what you're holdings are and our factor exposure, etc. so this is one thing that many plans do another thing because not many plans actually look at that i mean i've talked to a lot

you cannot invest based on that.d we don't know about, but if you invest that way, you're going to miss out on 200%. we come back. charles: my man, love the miami jacket. [laughter] all right, i'm here with the investment pros and a live audience. we'll be back to answer all your questions in just three money, making you money. ♪ [applause] yoyour friends have your back. your dog's definitely got your back. but who's got your back when you need legal help? we do. we're legalzoom, and over the last 10 years, we've helped millions of people protect their families and run their businesses. we have the right people on-hand to answer your questions, backed by a trusted network of attorneys. so visit us today for legal help you can count on. legalzoom. legal help is here. ♪ >> here again from the world moneyshow at the gaylord palm's resort in orlando. this is making money with charles payne. [applauding] charles: all right, guys. we're back with a very live audience tonight. hey, every night we talk about this. what to bu

they don't invest and they don't care. invisible and takes $190 billion and we are not even involved in the discussion anymore. the vestment might have worked back in the 80's, but nowadays come a there's too much capital. there are sovereign wealth funds and enormous flows of capital that can replace large institutions will stop its worth and academic study as to whether it can be effective in this world. >> who is asking you to take this stand? we can look at those firearm companies and if i was a teacher in the state of california my pension would be so important to me and my family. i'm not sure if i would actually care if you were invested in these types of companies, i would just want to know my money was safe. who's pushing you in this direction? x it becomes a discussion about whether it's meaningful for the portfolio? the people we hear a lot from our our retired members and active teachers. we hear from them collectively through different groups. i'm a money manager and i work for a board. that board of trustees

david: so if jcpenney was his worst investment, what is his next investment strategy?o say. >> more of the same. we're looking for great, high quality businesses. they typically are going to be large cap, north american companies. and their businesses which we sea opportunity for improvement. and, the improvement very often can get done with existing team running the business. sometimes we've been, felt a change in the leader was necessary. so you know, it will be the full spectrum of ideas. we're looking for couple good ideas. we welcomed input. we're not invented here company. if somebody has a great idea, great business needs improvement we're all ears. liz: listen, one of the most success activist investors. catch deirdre bolton's full interview with bill act manned and all interviews on foxbusiness.com. >>> if you're looking for an alternative to flowers and roses how about an edible bouquet? that one is $600. we'll talk about gifts that are cheaper than that one consumers spend money on. david: fed earnings, economic data, fed speeches. how do you move your money

one is the plan to invest in infrastructure.roposes we get rid of special interest tax breaks that encourage corporations to move jobs and money overseas and take those savings to invest in our infrastructure here at home. it overlaps with the republican plan put forward by dave camp. there is some overlap. the other area is republicans on capitol hill senator kaine and senator graham recognize we need to invest in national security. we need to do that. it depends on these investments in scientific research. there is room to move forward. the president wants to do that in tandem. his budget would restore many of the cuts to investments in scientific research and education. it would also restore funds to defense and national security. >> i want to ask you about the morale. as you look at this edge it, are democrats in the house satisfied that this president is pushing the envelope far enough? >> i think there will be broad and deep support for the president's initiative. a lot of overlap with some of the ideas that i put forward.

you cannot invest based on that.d we don't know about, but if you invest that way, you're going to miss out on 200%. we come back. charles: my man, love the miami jacket. [laughter] all right, i'm here with the investment pros and a live audience. we'll be back to answer all your questions in just three money, making you money. ♪ [applause] at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking s

with the understanding that that return on investment goes directly back into the capital program. so it's really 30-70-70 to everything, port mission, safety, health, code violation, et cetera, but if it's just such a great investment like the back lands project we will continue to grow the criteria to show the weight of the revenue. >> so about 30 points out of a hundred. >> yes. >> then you have the rest is obviously public safety compliance issues. >> maritime mission, bringing the public to the waterfront, yes. >> then i guess a statement of the obvious but some of these we looked at other sources of potential revenues to get those funded? >> we do. we do. one project, one process we go through is to find all other funding sources. so there's two things we do in the scoring criteria. if it's leveraged we move it to the top, depending on the ratio of leverage, and we look to see are these revenue bond projects, as our bonding can capacity improvings are these things we would want to issue debt for and we of course always look for grant opportunities for any of these projects. >

and let level one take it's course it didn't seem like staff or the board has taken the social investment procures very seriously or if so perhaps staff didn't communicate to index s f they have include the approximate i didn't action i'll say this is the only fear in the last year that the board specifically called out proxy action so the fact it is a discrepancy ricci so make sure make sure? included in the next item. >> speakers sielgd and we brought you monthly report under the proxy assault weapon that included the engagement it was a separate project we brought to you and report each month at the end the proximate i didn't we provided you with the result of our holdings and how we voted button proximate i didn't see for the incentive we have those separated out and but we have also considered it not part of the annual report but as a special report i believe the last report had been in june or july we'll provide the level of details for o cooker 2 hundred companies. >> great, thank you call item 67. >> item 6 action item review and look at the proxy voting procedures did 2015. >> th

start investing with as little as fifty dollars. >>> all right. time for our trader blitz, four trades on four stocks making news today. first up is transocean. falling after reporting the ceo is stepping down. cutting their dividend stef by 80%. stock has been in a world of hurt for a while. >> down 50% over the last year. a lot of people expecting this. i think the ceo's departure is a net positive to get fresh eyes on the company. the dividend was kind of expected. i would just say be careful. because they are free cash flow negative and have to fund over a billion to $2 billion in new builds over the next two years. they need the free cash flow to improve. with oil here it's going to be challenging. >> nili, starwood hotel ceo resigning. >> that's right. the ceo has resigned. the stock is reacting positively today. there's a new interim ceo something in. there have been missteps here. they made an expansion into international at a time when international wasn't paying off. the stock has gone nowhere over the past year up about 3%. and still, w

you have to invest in america. speaking of which, after the bell, big news from disney, macy's, chipotle. a lot of others. let's go to nicole petallides on the floor of stock exchange. >> they are loving february. turn around for january. led by oil. things like chevron and exxon doing well helping to lead the dow jones industrial average. the dow up 300 points. what a day on wall street. merger activity. talked about events for staples and office depo. they moved to new highs with big gains. (?) a group that did well. aerospace and defense sadly because of a difficult situation, burning alive of a captured jordanian pilot. general pilots. all surged on that news. and i can't leave out the autos. ford, gm, they rocked it. we saw the big three doing so well with sales in january. trucks and suvs were shining, and the group certainly was higher. that's the latest. charles, back to you. charles: thank you very much. here to help us sort it all out. investment pros. danny hughes is back with us looking fantastic in tha

john toohuey of usaa investments is here to tell us why he is investing in cruise lines as the snow covers new york city. ira epstein joining us from the cme i want to start with you, ira. we talked about manufacturing data. that tropical depression. consumer spending biggest drop since september of '09. yet the markets woke up in the last 20 minutes of trade said we're going forward. why? >> writing about it actually in my newsletter tonight. the market fell 6%. the last time i was talking to you, liz, we had a drop between 5 and 8%. people say this is not market to own. you're back to the 6% number. away you go one more time. also i think what happened today as the market has a sigh of relief. oil is not bottomless. too much of a good thing, too much of a low price can be a problem. the fear factor of dropping oil took a little bit after back seat today. all that other data, we weren't expecting great, great data. we know that we're not an island we're slowing down a little bit. that keeps interest rates at bay. put the combination together and this is late-day rally. adam: joe, let me b

making those kinds of investments are the kinds of investments for which everyone feels like i have got a piece of this. i've got an opportunity. i work hard and play by the rules and i'm going to succeed but a world in which those investments are undermined, look at something like the ryan budget which in effect says but remember not you, sorry ryan. but look at the basic premise behind the ryan budget. preserve lots of loopholes for those at the top taxes for those at the top and how do they plan to pay for it? by cutting the investments that create opportunity. cut the investments in education, infrastructure, in research, the things that help build the future. that drives us toward more inequality but more critically it undercuts the basic premise of this country of work hard play by the rules you have a stake in the outcome. >> not to drag this in a more pessimistic direction. >> could it be more pessimistic? >> another reader diane from florida as this one. how will the consequences of climate change and direct with economic inequality? >> you know i think it shows we have much mo