be completely refurbished by the america's cup race authority ended exchange for that the owner larry ellison would receive the rights to lease the paris and pocket the revenue for more than 60 years. about three weeks ago that deal died. the quake the original deal as i said was a real estate deal masquerading as a boat race and now we're finally having a boat race. the new plan calls for san francisco's board authorities spend the money to revamp the pierce they take up the issue in next tuesday's meeting. >>> south on the first day of spring we have them heading this base will get right to the percentage of normal so we stand for this time of the air for a soft but start with the city of san francisco we're talking last this time the error 10.3 in. in the main bout that compares last year we had then 22 full inches of rain. so we do need more rain and is headed this way let's calendar feature cast this first area of low pressure is basically going to make the bar in the north bay here's your wins the money committed to mostly sunny skies, the santa clara valley here's our thursday morning

i spoke to larry ellison derica a for a good few moments and we reiterated our excitement about the race. it is on. it is on for this year. for the smaller boats and next year for the larger boats. we expect hundreds of thousands of people to come to our city and we have figured out with great plants that have been worked on by the event authority and our host committees, all the different plans we have to use properly our open space, our transportation lines and make sure we create the venues that are positive. i want you to know this. the change in a little bit of the investment and the public discourse just is a very i think he reminder of how sensitive we have to be to this whole dialogue about investment. that can go different ways. the thing that i need to make sure we do at the board of supervisors and the mayor's office and all of our departments, keep a strong foundation for economic growth in the city. keep talking to audiences like you and others who can help us. keep talking to our neighborhoods, making sure that dialogue understands that job creation is about skill and direc

i spoke to larry ellison directly for a good few moments. we reiterated our excitement about the race. it is on for this year for the smaller boats, next year for the larger ones, and we do expect hundreds of thousands of people to come to our city. we have figured out, through the work of the event authority and host committees, all the different plans we have to use properly our open space, transportation lines, making sure we create positive then use. i want to let you know about the change in investment and topic this course is a very key reminder of how sensitive we have to be to this whole dialogue about investment. it can

i spoke to larry ellison directly for a good few moments. we reiterated our excitement about the race. it is on for this year for the smaller boats, next year for the larger ones, and we do expect hundreds of thousands of people to come to our city. we have figured out, through the work of the event authority and host committees, all the different plans we have to use properly our open space, transportation lines, making sure we create positive then use. i want to let you know about the change in investment and topic this course is a very key reminder of how sensitive we have to be to this whole dialogue about investment. it can go different ways. the thing that i need to make sure we do at the board of supervisors, mayor's office, keep a strong foundation for economic growth in this city, keep talking to audiences like you and others who can help us, talking to neighborhoods, making sure the dialogue understands and job creation is still in the misdirection. this whole theme today, prosperity together, sharing it, is consistent with what i

the executive of oracle, larry ellison, also on the list. warren buffett came in third. bill gates came in second place. carlos slim is the richest person on earth with a net worth of about $68.4 billion. that's since the market closed yesterday. he lost a little over $135 million yesterday. >> can you imagine losing that in a day? >> got to hurt. probably not. the 72-year-old is a telecommunications tycoon in mexico. facebook founder mark zurickerbg is not on the top-20 list. but he's worth $21 billion or will be soon once the facebook ipo thing gets through. so not feeli

i spoke to larry ellison directly for a good few moments. we reiterated our excitement about the race. it is on for this year for the smaller boats, next year for the larger ones, and we do expect hundreds of thousands of people to come to our city. we have figured out, through the work of the event authority and host

the bay area's well rested with oracle's larry ellison and larry page.uckerberg comes in at number 35 and i just checked, number 36 in the u.s. is steve jobs' widow. >> wow. >> $9 billion. >> did you see dave clark's name on that? >> i'm looking. i'll keep scrolling down. >> keep looking! big change in the works for infineon raceway. the reason the naming rights are up for grabs. benefits discovered after just a 20-minute workout. getting ready to plant? chances are your soil is like this: compacted, drained of nutrients. it'll hold your plants... but it'll also hold 'em back. the solution: miracle-gro garden soil. the perfect mix of rich, organic ingredients, and miracle-gro plant food. just mix it in. and turn bad soil into great soil. helps plants grow twice as big. instead of holding 'em back, they'll leap ahead. miracle-gro garden soil. start right. finish big. >>> the company that owns infineon raceway hopes the track will have a new name this summer. the company that paid more than $36 million to put its name on the track has decided not to renew

oracle executive larry ellison is on the list. warren buffett comes in third on the list.tes is second. carlos slim is 72 years old and a telecommunications tycoon in people co. when the stock market closed yesterday he lost a little over 135 million in a day, but he's still the wealthiest for now. >> miss white could loan him. she has twice that. >>> still to come, trading up, if you're planning to snag the new ipad as soon as it's released, you could get some cash for your old ipad if you act fast. >>> her parents thought she had people! look at you! texting...blogging... all this technology, but you're still banking like pilgrims! get high yield free checking at capital one bank. why earn bupkis, when your checking could earn five times the national average!! and free atms anywhere. five times the national average!!! that's new school banking. sign up for high yield free checking at a capital one bank. what's in your wallet? somebody help me down. >>> owners of the older versions of the ipad are scrambling to sell or trade their tablets. selling now means more money in

larry ellison was going to rebuild those properties in exchange for a free lease but three teams are charging oracle for the cup. all the competitors can be consolidated at pier 80. >> kristen: no tsunami threat after a magnitude 6.4 earthquake hit japan two hours ago. it was centered off the northern coast about six miles beneath the sea floor. same region that was heavily damaged a year ago by a huge earthquake and tsunami. no reports of damage or injuries. >> here locally we have some wind and rain and that rain is going to blanket the area. >> kristen: mike shear to look at it. >> check out the latest winds, they are picking up everywhere. up to 40 along the coast this afternoon. good morning. here is a look at live doppler 7 hd. it's arcing its way through the delta and into the north bay. pretty close to what we expected. giving us scattered light rain, coming down the sunol grade, down mission boulevard, most of that is going to stay in the higher elevations. dublin, pleasanton, 680 through san ramon valley, all the way to concord and benicia, rain right there. miller creek do

microsoft bill gates taking the number spot z oracle's larry ellison at number seven. >> and zuckerbergeally hurting, only $21 bill yin weather was spectacular over the weekend. >> and there are allergies acting up. stuff starts blooming. and there is is a live view in emeryville. taking a look at clouds at the coast. there is a clear, blue sky but low clouds on the coast. there is weather conditions about to take a sharp change. there is a wide range of temperatures from 51 here in san francisco to 7234 antioch. not the wide spread warmth of yesterday. we can expect showers turning cold after that with warmer day as haerkd again. wednesday through friday. there is an advancing cold front, colder air than now. so there is a forecast animation, clouds increasing overnight. and there is wet start, areas of showers but the front sweeps through quickly. behind that, there is a clearing and windy conditions and blustery tomorrow. there is a wind advisory tomorrow from noon tomorrow to midnight, winds out of the northwest gusting 40-50 miles per hour. stronger gusts over hills z once again, g

also several people from the bay area on the list, including oracle's larry ellison who came in sixthk's 27- year-old mark zuckerberg, worth $17.5 billion. >>> in news of the world tonight in afghanistan, six british soldiers have been killed in hellman province. the largest one day loss of life for british forces in six years. it appears their armored vehicle hit a roadside bomb while on patrol last night. >>> in syria, amateur video shows the devastation in a neighborhood of the city of homes that had been a base for opposition fighters. today, the humanitarian chief visited the area. it -- most of the residents had already fled. >>> in china, scary pictures of a rescue. two men got stuck in their truck in the middle of a river. he and the other man reached dry land safely. the not clear how they wound up in that river in the first place. >>> toyota motor company today announced two separate recalls involving about 681,000 cars and pickup trucks. the first recall involves 2009 camries and 2009 to 2011 venza's. the other involves almost a half million tacoma pickup trucks manufacture

also several people from the bay area on the list, including oracle's larry ellison who came in sixthand ranked 35th, facebook's 27- year-old mark zuckerberg, worth $17.5 billion. >>> in news of the world tonight in afghanistan, six british soldiers have been killed in hellman province. the largest one day loss of life for british forces in six years. it appears their armored vehicle hit a roadside bomb while on patrol last night. >>> in syria, amateur video shows the devastation in a neighborhood of the city of homes that had been a base for opposition fighters. today, the humanitarian chief visited the area. it -- most of the residents had already fled. >>> in china, scary pictures of a rescue. two men got stuck in their truck in the middle of a river. he and the other man reached dry land safely. the not clear how they wound up in that river in the first place. >>> toyota motor company today announced two separate recalls involving about 681,000 cars and pickup trucks. the first recall involves 2009 camries and 2009 to 2011 venza's. the other involves almost a half million tacoma p

>> i would point out that larry ellison has said not to expect hardware growth until later this year. they are working on getting margins where they want them to be, not on revenue growth. it's interesting. people interested in the higher stock. we zero in on hewlett-packard. shaking up the management team, will that help shake up the stock which has been down 7% in 2012? tough year last year as well. >>> then make a change. how much will health care rise by the year 2050? which stocks will cash in on a long-term trend to health care? before we head to break, here are highlights of our guests today on cnbc. back in a moment. >>> it's gone from the great depression to everybody should own a home. that mentality has still not left washington. they are prepared to run up this bubble again, to push home ownership on people that can't afford it and go through all of this -- all over again. >> house prices are absolutely key here. you've still got people sitting on realized capital gains. 30% and a third say they have problems with potential capital losses if they were to move up and a quar

larry ellison was going to rebuild those properties in exchange for future development rights but only three teams are challenging oracle for the rights so the mayor says all the competitors can be consolidated at pier 80 where ellison's team will be headquartered. >> eric: time to look at the forecast. rain on the way and some drivers it's already here. >> kristen: right. you miniyou but not necessarily you. >> eventually everybody. it is scattered through the morning hours. picks up in the north bay like we talked about. so far the storm has holding to form. live doppler 7 hd. heading down to marin county, miller creek road. petaluma all the way down to tiburon now getting light rain. over in the east bay, we have it moving across the dumbarton and also san mateo bridges. watch out. union city down to fremont and milpitas through the sunol grade and right up to dublin and livermore. we're going to have rain there. especially on mission boulevard. that is the first part of the story. winds are gusting anywhere from 13-30 miles per hour around the bay area even up to 23 in the east bay

oracle ceo larry ellison in advance talks to buy the nba's memphis grizzlies. how about that? has been ellison wants to buy a team and move it to san jose. the price tag for the team right now reportedly $350 million. the only nba franchise in the bay area is, of course, the golden state warriors who play in oakland. but don't count on those season tickets just yet. the grizzlies' current lease in memphis run through 2021. >>> 5:55 right now. we now know what apple will do with its pile of money. you have the latest. >> we're less than five minutes away, but we know that apple will spend about half of its pile of cash. keep in mind, we are talking about the biggest pile of cash in american business history. apple will, we understand, spend $45 billion on dividends in a stock buyback plan. $2.65 a share on the dividend $10 billion worth of stock buy back. $45 billion is a staggering amount of money, but some disappointment this morning that apple is keeping so much money in reserve. now, the official announcement will come at 6:00 a.m. our time just a few minutes from now. ther

the executive of oracle, larry ellison, on the list. warren buffett came in third.nd place. carlos slim is the richest person on the earth with a net worth of $68.4 billion. that's since the market closed yesterday. he left a little over $135 million in one day yesterday. tough break for him. >> yeah. drop in the bucket. >> the 72-year-old is a telecommunications tycoon in mexico. facebook founder mark zuckerberg not on that top 20 list. >> no one's feeling bad for mark zuckerberg for sure. >>> a person from rhode island could one day be added to the list perhaps. today we'll find out who bought the lucky ticket worth $336 million last year, the third largest powerball jackpot in history. the ticket was sold at this rhode island supermarket. the winner can choose a lump sum of $210 million or the full jackpot in a series of payments over 29 years. >>> scientists in canada and europe are trying to figure out what's causing a mysterious buzzing sound from the sky. take a listen. [ loud noise ] >> wow. >> yikes. >> kind of sounds like some groaning or maybe a really po

if you could see the press releases, it is classic larry ellison, hp. >> they want to quit providing support because they say the intel chip doesn't have much longer of a life? >> exactly. let's see if i can't pick up the press releases. just the back and forth that happened overnight was classic. >> they hate each other because of the mark herd situation. >> he ramped it up. they hated each other before that. here we go. rather than filing a legal motion, hp has yet again filed a press release that continues its campaign of lies about what's called the eye continue yum road map. intel documents -- it's just a long and con vow looted -- >> so the battle continues. >> it's a fascinating battle. and a little bit of deal news.v >> so the battle continues. >> it's a fascinating battle. and a little bit of deal news. about $500 million in cash. >> if it was -- it's produce announced lomb. not that i really care. but -- >> do you wear charactontactses? >> i do. i have a bifocal in my left eye. it's really weird. if i look straight, i see far away. if i look close, it tries to take care of

this is mark hurd and larry ellison. i think chm is just schooling them. it's schooling them. and i think that people have to watch that stock because the last quarter was bad yet the stock has come all of the way back to 30. agree, time of get out oracle. >> fierce rivalry between those two companies. >> yes. >> southwest and united. >> oh, my. you know, gasoline, jet fuel is so high. i thought this made sense, this bank of america downgrade. i don't know why people are still in these stocks. what does it take? don't they realize the costs are up so much and you can't really hedge it in a certain point. i really don't like the airlines at all. >> i see harley, citi group saying some good things. >> yes. we did a piece recently about harley and the momentum, the sales momentum and how is if kind of thing that frankly, do you really need a harley? no. this is discretion spending back. >> discretionary that you need to finance in a large case. >> yes. i think a lot of people used to think this is a market where harley is going to have trouble -- people are g

larry ellison feels that way, oracle. it's not enough for will him to win, it's more important for you to lose. and think sony was in the cross hairs of the greatest manufacturing and thought pl gene just of our time. he could have destroyed ford. >> a friend of mine this morning asked me what sony product i had in my house and i had a hard time thinking. >> a walk man if not a number of them. beta max was one of the early losses there. >> what do i have of sony? i had their game player are for a while and then i got xbox. >> anyway, fascinating. >> making them sad over there. >> the seasony tooth brush? >> how about a sony movie. right? >> finally, before we take a break, last day of the quarter. bulls obviously snorting with delight. dow having its best start to the year since 1998, up almost 7.5%. s&p up almost 12. broader index has only seen double digit gains in this quarter 11 times and of those times, the s&p delivers an average digit full year return of 16%. nasdaq, 19% quarter to date. whenever the s&p is up 8 pl

that's the bill gates model, larry ellison model. and now marc zuckerberg model.ideal circumstance. we try to support those people to the hilt when we can find them. when we do have founders that have great ideas who are not great operators we work hard to bring in the right kind of operator into the company, an operator that can partner with the founder and work with the founder and keep the founder and keep the founder's strengths. when that works what eric schmidt was able to do, we think that's a formula for success. >> one of the conversations we have around this table often these days is politics and policy and what's going on whether it's regulations or taxes, simpson-bowles was the conversation we were having before you came on. i'm curious, whenever i spend time in silicon valley, oddly enough it feels like there's a disconnect or maybe not a disconnect that's not on the radar. people are spending their time to look at the product, trying to innovate. this stuff in washington doesn't matter. am i wrong? >> mostly you're right. in the valley people try to

this is larry ellison we're talking about. >> there was just an assault on salesforce.com where he basically said, listen, it's not secure. sap, he's talking about sap being like out of date. these guys are -- this is a bare knuckles -- >> but benny came from oracle so there's a little bad blood in the sense a top executive leaves to start a competitor. and benny, your boy, has not shied away from going after ellison as well. >> he across the street gave his own little talk because he got shot at so the bad blood is deep. >> on the numbers side, the old firm in d.c. coming out and basically saying listen, thankfully for this quarter, november's quarter looked like a hiccup. it wasn't necessarily the end of the world and there's still products in hardware. but fbr raised their target at oracle from 36 to 34 saying it looks like the last quarter was just a bump and not the end of the road. >> i'm with them. i agree with that. >> oracle is higher by 2% in the premarket session. so you read through to what, crm, to sap to bm wear, to red hat? let's go the full gamut here. >> i think they're tryi

you look for a non-united states larryo add to the leist of page, as their day, mark zuckerberg, larry ellison is not easy. >> i have a question about our defense budget. i think the correct figure is about 1.2 trillion dollars a year on a full cost basis. my question is, why is it so difficult, politically and otherwise, to discuss seriously reducing that? we spent more than all other nations combined. it is a huge piece of the total expenditure of the budget. why is it difficult? why is it an area that is not discussed? >> is discussed, and indeed the current plans call for significant reductions in defense spending, and if you ask about the longer trend, today we are running at three. something% of gdp in defense spending. -- 3. - something percent of gdp in defense spending. in the 1960's, we were spending something like 8%. we have reduced spending, if you take the long view. i am not an expert on anything, but i do not claim to be an expert on national security. i do claim to be an expert on some other things. i guess i would ask you to think about, when we sent 200,000 soldiers abroad,

states name to add to that list, it feels plausible at all, steve jobs -- i mean, you could add larry ellison you could add five more american names -- if you tried to think of the most plausible non-american name to add to that list, it's not easy and that's really a great strength of the country. >> so if mark zuckerberg was in the room and you gave your don't be fungible speech you could definitely take question. >> i have a question about our defense budget. i think the correct figure is about $1.2 trillion a year on a full cost basis. my question is, why is it so difficult politically and otherwise to discuss seriously reducing that. we spend more than all other nations combined. it's a huge piece of the total expenditures of the budget. why is it difficult -- why does it seem to be an area that is not discussed? >> it is discussed. and indeed the current plans call for significant reductions in defense spending. and if you ask about the longer trend, you know, today, we're running at 3.-something percent of gdp, in defense spending through the 1950s and '60s, we were -- in the '50s we w