hi, i'm jack welch. it's education for profit. i like this investment more than any one i got. >> ( laughs ).=miu/b >> smith: traditional colleges raise capital from wealthy alumni and other donations. clifford's for-profit schools sell shares to investors. >> i just think that if everyone's going to fund... >> smith: clifford's latest turnaround project is a small nursing school in a hispanic section of san diego. >> we have probably invested in the neighborhood of $6 million to $7 million in the school. it will get as big as we want it to get, because the demand for bilingual nursing and other related health care programs is so great. >> smith: clifford took over interamerican college in 2009. it's geared to serve latinos, and he plans to open a string of campuses outside military bases. the students typically hold jobs by day, and take classes well into the night to improve their job prospects. >> our typical student is... they're adult students. so, their average age might be in their early 30s. they're very career oriented. >

. >> do you agree with jack welch, who says the chances are that the competition between the two and the longevity of the two nations, china and india, india will win? >> well, i think both of them have strength. i don't think it's going to be so simple because china has real problems, got to make a political transition. he feels india has learned how to develop government, use government on the way to getting the kind of extensive government needs and clear up where do we go freshwater. >> optimistic? >> he says china, he feels, i don't want to put words in his mouth, but as i recall jack welch who has a big operation in bangalore, formally of ge, heads ge for years, he says that the odds of china getting into trouble with its system and that the real internal problems there is far 

he nicknamed the name super mario because of the success of jack welch and bill gates. >>> and a 6.3 magnitude earthquake off indonesia's coast. and the depth and magnitude did not cause size able waves. 230,000 people years ago when the earthquake triggered a massive tsunami in that area. >>> 45. let's get you out the door -- 4:52. let's get out you out the door with traffic and with weather. >> a good first part of the week. a lot of sunshine. cool temperatures and a little fog out there this morning. watch out for that. a little thick in some of the valleys. early on, we should be talking mostly sunny skies and really it looks like a very comfortable day in most spots inland. well in the 60s in many parts of the interior valleys. mid-60s inside the bay. out to the coastline, a mixture of sunshine and a few patches of fog and temperatures mainly in the 50s. it looks like we begin to clear things out and more of a northerly pattern with the clouds and that means we will try to clear out the clouds as the high pressure stays in control for not only today but the next few days and lik

jack welch when he ran general electric used to have a mindset that they were going to try to fire the worst 10% of the employees each year. not that he knew that 10% could have been the right number. he just thought 10% was a reasonable target and it strikes me that encouraging states to address those worse 5% each year is not unreasonable so long again as we keep that focus and encouraging states to address it and not on trying to stipulate late models through which they should address it. third, i think there's an enormously useful role in the kind of stuff that was alluded to, to provide cover for state and local leaders who are trying to get out of old systems. often, even when you have super attendance like mr. grier or far sighted union leaders who would like to do things differently they get pulled back for their constituents who ask what's in it for us. one of the powerful levers of voluntary grants is the answer what's in it for us is we can go out and we can bring a spotlight. we can bring home dollars. and it provides us a chance to leapfrog into the 21st century. and fourt