kate kelly, kpix 5. >> the garden tour is free. register online using the link on kpix.com. click on kpix 5 at the top of the page, then jefferson awards to find kathy's story. >>> now a live look at the wildfire burning in ventura county. we have been talking about this a few fires in southern california. of course, this is the one in ventura and we are just learning about these evacuations that have been ordered at a neighborhood. this is 50 miles west of los angeles. a university is also being evacuated. so far, four residents have burned in the grassfire. that also prompted the evacuation of a elementary school in the area, as well. we're covering fires all over the state from northern to southern california. >> it quit raining at the beginning of the year. and it was the driest period on record. not only that the snowpack at only 23% measured today. so not good for a water supply. if you love sunshine and heat, you will love the day today. a lot of sunshine, it's hazy because of the fire. some of the smoke in the north bay as temperatures soar already. in fact, it's 81

and as kate kelly reports, his efforts to bring hope and healing have earned him this week's jefferson award. >> my son albert to was murdered in a drive-by shooting on january 7 of 2007. >> my name is fran zia. my son was dante white. he was murdered april 27th, 2006. >> reporter: the names and dates are like open wounds visible, painful, and why these families have joined at the healing circle a support group led by george jurand. >> our purpose here is to heal. it's to educate those who aren't educated about what happens to families who experience violence. >> reporter: twice a month, family members meet at the paradise baptist church in the ingleside district of san francisco. they come from cities around the bay area bringing photographs so no one forgets the faces behind the statistics. >> i wanted a place where people can come and not feel judged, to not feel that they were alone in their loss. >> reporter: george's day job is with the san francisco sheriff's office. it puts him in touch with e victims year after year. he saw them struggling with tragedy long after their stories

kate kelly shows us what this week's jefferson award winner is doing to inspire a new generation to change that. >> who is going to do the bayview-hunters point? >> reporter: if science is about opening the door to the world around us, then biology professor leticia marquez-magana. wants to crack that door wide open. >> if you want an innovative solution to a scientific problem you get that solution with a diverse team. >> reporter: dr. marquez-magana is passionate about the groups under represented in science and engineering beginning in her own last courtroom at san francisco state. >> i walk into the classroom and see myself reflected in the students. >> reporter: she was first in the family to go to college and being the only latina in grad school pursuing a ph.d. in biochemistry had its challenges. >> i got into the elevator and he said are you new to the department? oh, yes. i'm new to the department. what lab are you in? >> i'm the [ indiscernible ] lab. i didn't know they hired a new dishwasher. >> reporter: she wanted a different subpoenas for her -- she wants a different experien

we have some breaking news now from kate kelly joining us on the phone. what is it? kate?andy, thank you so much. fac issuing a letter to its investors, telling them two important things. they are changing their stance with the government, as the government continues to investigate ss.a.c. on a criminal level in terms of potential misconduct, insider trading allegations that have swarmed around the firm in recent years. they are changing their stance. their cooperation, they say, with the government is, quote unquote, no longer conditional. and the other thing is, they are going to be keeping their currents closer to the vest, even with investors as they move forward an important legal deadline, at the end of july, by which federal prosecutors have to bring any criminal charges against steve cohen in connection with a prior case. so, two interesting elements to this investor letter today. they also said they don't believe the changes in posture that they're adopting, mandy, will have a quote unquote financial impact on their fund. so, essentially warning people. they're no

cnbc's kate kelly joins us there kate, so you many stocks on the move today because of what was said at that conference. >> no, absolutely, melissa. this conference does tend to be a big drown dra you in that regard, people come and prevent one or more of their best long and short ideas to give you a little bit of a flavor of what we have heard today and people reacting to, paul singer of elliott management kicked off the proceedings by essentially speaking negatively about the developed countries and their government bonds. he said particularly if you are holding u.s., japanese or european debt, you should simply know you own assets which are trading at the wrong price by 50 to 100 basis points or more and if you own them, you should just know, a, about the distortion, and b, that there is no safe haven in today's market. so, a pretty bearish world view, even on the g-7 countries. then we heard from steve yzerman, made famous by his per 'tis passion in the big housing short. these days, bullish on house, gave us three different twice play a housing or financial recovery with differe

kate kelly show >>> hispanics, african- americans and native americans make up less than 10% of a collegeduates working in science and technology. kate kelly shows us what this week's jefferson award winner is doing to inspire a new generation to change that. >>> reporter: >> who is going to do the bayview-hunters point lung cars? >> reporter: if science is about opening the door to the world around us, then biology professor wants to crack that door wide open. >> if you want an innovative solution to a scientific problem you get that solution with a diverse team. >> reporter: dr. marquez magana, beginning in her own classroom at sf state. >> i walk into the classroom and see myself reflected in the students. >> reporter: she was first in the family to go to college and being the only latina in grad school pursuing a ph.d. in biochemistry had its challenges. >> i got into the elevator and he said are you new to the department? oh, yes. i'm new to the department. what lab are you in? i didn't know they hired a new dishwasher. >> reporter: she wanted a different subpoenas for her students.

kate kelly with the latest there. rick, you still with us? >> sure. >> i apologize for that. back to the discussion on gold. maybe gold's biggest problem these days is stock market. right? stock market's ripping higher. why be in gold? >> i agree. it's hard to justify. if you wind back six months, folks in gold trading higher and to get capital gain and doesn't pay yield and it can fall. i think it will fall further. why would you get no yield at all when the s&p goes up every day? >> what about the other main players in the commodities space? we mentioned at the top of the show how commodities have underperformed, been the worst-performing relative asset class. does it change any time soon? >> look, i don't think it does. i think that commodities are going to remain under pressure because growth is still soft. average gdp growth is global level 3.5% and normally gets you flat real commodities prices and played by china and prices went up. that's why i think they're under pressure and unless you can tell a story where global growth comes out strongly, it's hard to see an upwa

kate kelly has been following the story for us. ate, who is steve cohen and why does he get so much attention? >> reporter: as you just mentioned, tyler, he's one of the most successful hedgemo fun managers in the world. he manages $15 billion. also by head count his hedge fund is one of the largest out there. employs more than 1,000 people in stanford, connecticut. and because of the money they manage and their style, they're accounting for a major percentage of the market volume every day. it may only be 1% or 2% on a given day, but that's a signature chunk. >> why does this matter for individual investors? why should they care about what happens to him and his firm? >> why it matters to an individual investor is more symbolic than literal. there's a feeling that the class divisions are widening, that hedge funds like sac get away with all sorts of illicit behavior, or enjoy a more competitive tax rate on investment gains. although hedge funds were not considered to be accountable for the financial crisis, i do think there's a per

kate kelly, kpix5. >> that garden tour is free. you can register online using the link on kpix.com. you can just click on kpix at the top of the page and jefferson awards to find kathy's story. >>> there's going to be another nice day for gardening if you're doing that if you can handle the heat but boy we've got all sorts of things going on in the weather department. >> we do have lots of happening this weekend around the bay area if you're looking for something to do for the 17th year in a row they are doing ala carte and art down at mountainview, where they expect partly cloudy skies and 82 degrees, it will be nice. they've got food, drink, they have things for homeowners and by the way, art so that will be nice, i'm sure ann will be there if she didn't have to go out and work today. if you're heading out to the north bay have a care. they've got fire weather alerts because of winds gusting picking up after about 10:00 this morning and gusting out of the northeast to as high as 50 miles an hour northeast early dry hot direction but at 3:00, we'll lift those alerts and lift them f

and as kate kelly reports, his efforts to bring hope and healing have earned him this week's jefferson my son albert to was murdered in a drive-by shooting on january 7 of 2007. >> my name is fran zia. my son was dante white. he was murdered april 27th, 2006. >> reporter: the names and dates are like open wounds visible, painful, and why these families have joined at the healing circle a support group led by george jurand. >> our purpose here is to heal. it's to educate those who aren't educated about what happens to families who experience violence. >> reporter: twice a month, family members meet at the paradise baptist church in the ingleside district of san francisco. they come from cities around the bay area bringing photographs so no one forgets the faces behind the statistics. >> i wanted a place where people can come and not feel judged, to not feel that they were alone in their loss. >> reporter: george's day job is with the san francisco sheriff's office. it puts him in touch with crime victims year after year. he saw them struggling with tragedy long after their stories had d

kate kelly has bringing news to advance the story. >> scott, this deal appears to have saved mbia fromvency. really worked through the weekend to reach an accord that they came to this morning for, again, $1.7 billion settlement between b of a and mbia that includes a $500 million credit line that will be paid out to mbia as well as b of a taking a less than a 5% stake in the company to kind of save it from the rocks. of course, the nature of the litigation was that mbia accuses b of a and countrywide, the housing unit acquired a numb over years ago, of forcing it to insure very high risk specialty bonds that were essentially putting it under even after the company had been split into two to kind of separate out the riskier part of the business from the rest. scott, a big victory for both new york state awful shuls here and mbia which seems to live to see another day. multiple circuit breakers kicking in here and obviously a huge rise on the nyse. >> kate, thanks with developments on that important story that the stock, as we mentioned, as you sauce, getting a huge run. it's been halte

as kate kelly reports, it's the creation this week's jefferson award winner, a woman with a passn >>>l bring back the natives annual garden tour is this sunday. kate kelly reports it's the creation of this week's jefferson award winner, a woman with a passion for protecting the environment. >>> reporter: this is oakland. a welcoming section of a creek frequented by family, joggers and wildlife. exactly what kathy kramer envisioned when she started the friends of the creek watershed program 17 years ago. for 25 years, cathy has worked to protect the watersheds in northern california developing award winning education programs like kids and creeks and community projects like the one that transformed sasal creek. hillsides of ivy were created. paths were opened up and parts of the creekbed restored. friends of the creek credits kathy with planting seeds of change. >> we have 10,000 volunteers. >> they have a huge impact on creeks in the bay and water quality. >> reporter: the latest project is to show native plants aren't just for public spaces, they are important for your own backyard.

i want to check in with kate kelly. kate? >> hey, melissa. sac capital just out with their april returns. for the month, they were up 1% and that brings them year to date for external investors to 5.2%, 5.3% in some cases depending on the terms for their main fund. so, that's not also strong as their historical performance tends to be, relative to their peers and it's certainly an underperformance of the market. >> it raises questions about whether s.a.c. is keeping cash on the sidelines. as you know, melissa, they have a redemption deadline coming on may 15th. a lot of concerns about the legal issues facing them and if steve cohen is going to be charged with the ongoing insider trading cases. there may be clarity on that at the end of july, but at this point, investors remain nervous and i've heard that s.a.c. may be keeping extra cash on the sidelines in anticipation of redemptions, melissa. so, that may be a factor in diminishing the returns a little bit in the sense that they have less capital to put at work an leverage. unclear as to wha

. >> well, two things on that, kate kelly. great reporting. first of all, good for brian's bowlers.13. sec point, don't feel sorry for me with the australian dollar short. >> i'm sorry to have to do that on your show. >> i own u.s. dollars, not australian dollars. >> you have a mortgage in australia, right? >> absolutely. >> this is fantastic for her. >> the aussie dollar going down, it couldn't be better for me. >> she's burning money. >> apparently your country needs to look for other sources of growth than just commodities, because prices will be plateauing. >> i think we need a "crocodile dundee 3." >> up next, the very slow burn of a very fast car. with the new staples rewards program you get 5% back, on everything. everything. everything. everything. everything. everything. everything? [ all ] everything? yup! with the new staples rewards program you get 5% back on everything. everything? everything. [ male announcer ] the new staples rewards program. get free shipping and 5% back on everything your business needs. that was easy. man: how did i get here? dumb luck? or good dec

great coverage, kate kelly. >>> still ahead, credit markets are as hot as they've ever been according them and look at the potential with john bader. >>> and find out why one chief equity strategist is wave iing red flag on the run-up and says we could have a correction of 8% to 10%. mine was earned in djibouti, africa. 2004. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. to appreciate our powerful, easy-to-use platform. no, thank you. we know you're always looking for the best fill price. and walk limit automatically tries to find it for you. just set your start and end price. and let it do its thing. wow, more fan mail. hey ray, my uncle wanted to say thanks for idea hub. o well tell him i said you're welcome. he loves how he can click on it and get

kate kelly will be covering the conference for us on how some of today's big ideas and big names did.wasn't there. you were there. and you had a spirited discussion about apple. >> we did. there were a lot of great ideas. a lot of big names show up and they give interesting ideas, too. we thought it would be good to look at a flavor of who was right and who was wrong. the centerpiece of his talk. he argued that as its advisors try to . >> still, the stock fell more than 25% during this year, making the investor the more accurate predictor. he was shorting apple, thinking that the stock has peaked. and 80%. pretty impressive call. >> you have some of the biggest names in the business. do we have any idea? you know who will be there this year. >> paul singer who rarely does public speaking events will be there. >> you want my predictions? i think we will hear from ackman about herbalife. we don't know what other additional thesis he will bring. he is always a surprise. he often comes armed with four or five ideas. we will see if he focuses on one or gives us an array. and i'm curious to

kate kelly, kpix 5. >> you can connect with the healing circle using the link on kpix.com.ogo at the top of the page then jefferson awards to find our story on george. >>> around here it is going to be another nice weekend. boy, we are getting spoiled as far as i can remember it's been sunny weekends. >> it's a little bit weird. when the rain shut off month s ago we haven't had that much in terms of fog and the -- no doubt that's not far behind. that's typical summertime stuff. we've had a lot of sunshine, whether he get more this weekend. things are going to be warming up. race time temperature will be around 60 degrees tomorrow. it will warm to an of mid 60s. as one of the runners of the beta breakers it can be freezing on sunday morning. tomorrow is not going to be freezing, it will be nice. san jose 50 degrees, santa rosa at 44. the a's are playing tonight. they're playing the royals at 6:05. game time temperature about 65 degrees. it will be pleasant. out the door, sunny skies this morning. temperatures in about an hour in the mid 50s for the most part. then it's just

cnbc's kate kelly has the defails. a big ongoing vote of confidence from hedge fund manager david einhorn who has owned apple since 2010 and continues to buy it now. einhorn told investors in his reinsurance company that he's added to his apple position of late and waiting for its next blockbuster product. although disappointing earnings and a diminished forecast are hurting the stock of late, he acknowledged its loyal, sticky customer base will continue to push the company forward and its recent moves make it all the more attractive to him. he talked also about his macro strategy which accounted for a quarter of his first quarter results. that yen short has more than offset the decline in his long gold positions he said, declines that surprised him some. over the long term, he says with regime change at the japan central bank, he thinks the yen will drop further and that gold will strengthen. that last point means he agrees at least a bit with john paulson. paulson & company's gold fund got clobbered in april leaving

kate kelly with the latest angle and details. >> things have heated up significantly in the last fewfor s.a.c. capital. the $15 billion hedge fund under investigation for insider trading after weeks of negotiations with the department of justice over a potential settlement that would have warded off an indictment ot firm and its founder, steve cohen. cohen instead found himself in recent days served with a subpoena, asking him to testify about his own company before a grand jury. whether cohen will give evidence or take the fifth amendment remains to be seen. but the breakdown of settlement talks has changed s.a.c.'s tone from confident to more uncertain. on friday s.a.c. told investors in a cryptic letter that its cooperation with the government was no longer unconditional. and that it wouldn't be able to post them as frequently on its legal developments as it had in the past. it has also told employees that it won't comment on subpoena stories "new york times" in the, on cnbc and elsewhere today. and that they should carry on with business as usual, but that the firm can't say much

kate kelly with details. >> it is a little complicated at first glance, but really it boils down to howrrent shareholders have in the company's future. on the one hand, michael dell and the private equity firm silver lake has offered to privatize dell in a buyout that would pay shareholders $13.65 per share and take on $16 billion of new debt. on the other, carl icahn and southeastern asset management are offering a $12 per share cash or stock dividend, but maintaining a small public float and taking on a lower debt load of about $5 billion. icahn is arguing that, in fact, dell's investors would be preserved. that allows them to make money off dell's turnaround in the near future. in fact, icahn says using conservative math, the company could soon be worth $14 to $17 per share. it's comp rational to hp and other stocks in that class. the icahn letter has pushed up to maybe above $13. his move is a little ironic, because the structure he's proposing, known as a leveraged recapitalization, is often employed by company management as a shark repellant against unfriendly takeovers. in this c

kate kelly, thank you for that update. sure to hear a lot more about that today. >>> coming up.[ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪ omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. nespresso. where there is an espresso to match my every mood. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is made at home. and where i can have exactly what i desire. ♪ nespresso. what else? >>> welcome back to "squawk box." more on my special guest. ronald perelman and glenn hubbard. we forget because sometimes we're not on camera and talk about good points. >> one of your point was higher taxes or some

kate kelly joins us on the phone with the very latest. what do you have, kate? >> bill, the plot is definitely thickening for s.a.c. capital with the receipt of subpoenas by multiple senior management members at that firm, in the same round of subpoenas where steve cohen, the firm's founder, was asked the to testify before a grand jury, we believe, last week, he received that. and in addition, thomas conhenny, the president, steve kessler, and phil villhauer were also subpoenaed. so things are heating up in terms of the government's probe of s.a.c. and whether or not they going to try to talk to some of these senior officials. we get the sense that they're building a case against the firm broadly. perhaps not as much as steve cohen personally, given that he may be havocked to testify against his own firm. it's not clear whether or not he will testify or if so, whether he'll take the fifth amendment or not. in addition, we've learned that there was a second employee call with s.a.c. officials held yesterday, that would be the second this week, and unusual for a f

kate kelly reporting earlier that the firm did hold a call with employees yesterday to talk about the media reports, including one saying the government is preparing to file racketeering charges and another saying that the fund will become a family office. executives on the call telling employees many of those reports erroneous. pl pl maria, back to you. >> did you see what happened in japan overnight? after gaining more than 80% over the last year, the nikkei took a dive of 7%. that would be losing about 1,000 points on the dow in one day. somebody here is warning that, of course, yes, that could happen here as well. we're going to go through that scenario next. >>> then, millionaires, sitting on the cash, keeping cash out of the stock market in a major way. coming up, we'll try to find out why. and if that money is poised to come into the market. stay with us on "closing bell." r made a retirement plan, they considered all her assets, even those held elsewhere, giving her the confidence to pursue all her goals. when you want a financial advisor who sees the whole picture, turn to us

i'm kate kelly following a developing story on sac capital. letter that allows claw backs for traders or analysts who lead to criminal sanctions of any kind. this is just part of a new set of complaint procedures that founder steve cohen lays out in an investor collector this morning. cohen basically said enough is enough in terms of compliance issues that have risen and concern about the conduct. he says the firm is buffeted by the problem in recent months and years. and among other things he's imposing the claw backs. he said also senior management. he says the contact that they have the with expert networks. that have led to insider cases by the justice department will be severely limited and any contact between sac employees and public companies must be with members of investment teams at public companies. in an interesting tone. they make the broadest and most public acknowledgment yet. he essentially says this is our problem to solve. it's my name on the door. we will solve this problem together. so very interesting to hear this tone aft

cnbc's kate kelly, which is a great name. s almost could be a country singer, really. >> my parents wanted to preserve my optionality. it was television, country singing. >> it's one syllable less. >> i could have been an entrepreneur. i think i would have gone catherine kelly if i were to change my name. >> oh, boy. how about first pet and street name? >> what? >> isn't it first pet and street name? >> when you have security questions? >> this is apprapo, my first pet was a dog named coffee. >> the street name? >> burlington place. >> coffee burlington is not bad. >> they're playing the porno music. >> yeah. >> not so used to that. sorry. we talked about investments ideas. let me just start this by talking about some of the investment ideas that came toward the end of the day and some of the more impactful ones likely in the market today. ios, oil states international, that was a bull case from david einhorn who said he almost didn't go with it because an activist investor came out with a 13d filing recently. jana wants ois

kate kelly is back with details on that. hi. >> so einhorn remains bullish on the name. the position of late. however, he's happy tw the developments that occurred, mainly that they're returning more cash to shareholder tlus dividends among other things. so continued bullishness there. he also said, and you asked about this earlier, he continues to be something of a believer in gold, and he's actually a bit surprised at the way it's performed of late. but in another macro play he did well in his trade shorting the yen. the yen has taken a dive as of late. as we see the new japanese bank of japan monetary policy unfold. he'll be speaking more tomorrow, carl, in manhattan, which i'll be covering. we always look to hearing what he has to say. so we'll see if he's long, short, some combination. >> and great poker player as people try to read his face, which is often a poker face. kate, thanks so much. einhorn says he's waiting for apple's new blockbuster product. google has many products in the pipeline. investors are liking it as well. hitting an all time record high this w

kate kelly joins us now with interesting news. kate?i run and founded women's network called 85 broad. this is founded in 1997 by janet hanson, a goldman sachs alumni herself and it's a 30,000 member professional organization that does networking and mentoring among other things around the world. crawcheck to my understanding hopes to grow and invest in the network. as it stands now she'll be an owner and not have an operating role. down the road it sounds like there is a possibility of them creating an investment arm that will bring capital to some of the female entrepreneurs who are part of the network. an interesting move for crawcheck and there's been a lot of speculation of what she will do next having left in the fall of 2011. so we have at least part of an answer at this point. >> it's a paid membership community, but what's the business here for her? >> the business is -- i think essentially, i don't think i want to call it a passive investment, but she'll put some capital into it and put strategic membership and positively go i

by the way, kate kelly is going to cover the event all day. stay tuned to cnbc for complete coverage. >> we went down three or four points. that was just when the article got written. people have been negative since october. we don't have those guys back on. we should have them back on to check in to see if they said i want to go in now because they can't. >> maybe some of them can. >> there are some people that deserve kudos like paulson. tom lee at jpmorgan was right. they are far and few between. let's check on markets this morning. futures are still green after another nice move to new highs yesterday. oil has been acting better as the move in the markets kind of implies that economic growth must be getting better. when we have analysts on today, we'll ask them. is it the money that improves the economic environment eventually? >> is it a leading or lagging economic indicator? >> money flows downhill. is it justified because it eventually goes into the economy and helps. sooner or later qe might not be -- >> qe helped in a lot of places. i

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march go kelly for her work and rosen field and his staff for their incredible work and mickey callahan, kate howard angd the various leaders for their support through the last few months. i want to thank mr. lee and i hope this will help the last remaining. the rest i submit. >> supervisor kim, supervisormar? >> i would like to invite my colleagues to the balboa theatre what some might feel brings back a lot of memories. some are saturday movies. there is popcorn palace that began last weekend and continues this weekend with a showing of assortment of kids movies. you get popcorn and a bottle of water or juice for a really good admission price. it's made possible by the independent film makers of the northwest film festival. also beginning june 1, saturday morning are filled with children's classics. i would like to invite a number of you to attend these events. some of you know that friday nights in district one at the museum is a great opportunity for family and art making for kids, but there is -- every friday is an amazing time for art, music, creativity and for families. a performance o

. >> now we have news out of sac and steve cohen and kelly cohen being subpoenaed to testify before a grand jury. kate> kelly, there's lots of concern this morning amid the report you referenced that prosecutors over sac over alleged insider trading may be heating up specifically the notion reported in the new york times that steve cohen last week received subpoena to testify before a grand jury as well as a general belief that maybe the firm or cohen personally will be charged criminally in connection with trades regarded to have been prompted by insider information. while the impact on cohen and sac could be huge, so will the impact on investors who up until now have been kept relatively well informed and sensing from the tone that was positive and almost confidence their position. as of friday, investors were told, we can no longer cooperate unconditionally with the government and we may not be able to communicate very much with you going forward. investors i know who have been stalwart supporters of sac all along are now telling me they may have to change their stance and they may have to pull mon

kelly ayotte's have collapsed. indicate ha kateand jeff flake's have collapsed. this is a political winner so people who fear the nra on this issue need not fear the nra. if you're a politician and you want your poll numbers to go up, support background checks so terrorists can't go on the internet and buy weapons. pretty easy political calculation. congressmen mike thompson and peter king, thank you. peter, thank you for explaining to me why people in long island are of more defining than my friends in my hometown in pensacola. the man who told "the washington post" when he was in a fight with me. he walked out without any shoes on. coming up, we have comedian jim gaffigan. i love him! >> people are already laughing at him. >> bacon. >> he leaves a trail of bacon wherever he goes. jim is here harassing our staff with his new book on being a dad and what it's like raising five kids in a two bedroom apartment in lower manhattan! >> that is work. >> that is wrapped entirely in bacon. >> that doesn't work. >> you're watching "morning