bay area can get a taste of the yacht race to come. 11 boats representing 8 teams, including larry ellison'se team usa will take part in a the ragata. the maureen kelly spoke to some of the team members >> i really think san francisco is the best place for our sport. >> reporter: he says the conditions here make for excellent racing. >> there's always reliable wind, the tiebs and the currents -- tides and the currents are constantly changing. and it pushes athletes, it's very, very physical. reporter: and the topography of the waterfront makes it a good place for people to get up close to the action. >> people will be almost able to touch the boats. >> reporter: the powerful boats have been known to crash or capsize. you can see the new zealand's team. some have called the sport nascar on the water for that reason. >> we've seen in training a few crashes, capsizes, lots of damage. and that's what it's like in this racing. it's a lot like car racing. your waters are pushing hard, if you push too hard, you go over that line, and you're going to pay a penalty. >> and look at this video from tod

and larry ellison says why do we buy apple? but on my launch a hostile takeover. i'll buy apple.the pushy back and set into motion again make a lot of money. steve finally says they think i might go back to apple, but i do when she to invest. i do want you to buy it for me to invest. i went to go back at 1 dollar each year and no ownership of it. and larry ellison says, but steve, if you do it and you come back that way and makes a great company again, how am i going to make money? you know, if we don't invest in diet. they were walking along a beach in steve kraft speckles shoulders and says larry, that this is why admit support and i'm your friend. you don't need any more money. [laughter] >> it didn't -- well, i won't go there. a couple more questions. before i get to this, let me ask you quickly about the current technology of this great conversational interface that siri represents. did he talk much about that with you, what the vision is? >> yeah, i do think the simplest of the natural interfaces have always been his passion and there is no simpler one than just talking. i

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

didn't make it were french team, team from china and a swiss team that had the america's cup before larry ellison took it away from them. and there is a big reason why there aren't more teams, at 6:00. >> and tear talking about 12-16 teams now, four challengers. >> spencer christian is here to check weather. >> there is a wide range of temperatures from 50s on the coast to low 90s inland this, evening, mainly clear skies and there is fog back on the coast. temperatures up to 80s inland loks there is sunny skies and temperatures raininging from 50s to about 60s tomorrow after the noon. sunny skies, warm, but not hot. and there are upper 50s to low 90s. and there will be further hot weather coming our way. >> still ahead why getting paid sick leave could make you less likely to get hurt on the job. >> and why one yahoo user is suing the company. that story and more on the bloomberg after the bell report. >> and there is high tech remote that's do a lot more than just change channels. >> there is checking downtown san francisco, giants playing a day game so that messes everything up. it's the crawl

backed by hi tech billionaire larry ellison. >> is there an advantage in sail something. >> certainly. yeah. i mean, that is one thing we want to see so they're down here and supporting us. >> spectators snapped pictures of the catta marchans. this is the first time fans can see races like this from the shore rather than miles away. >> and we want to see as much as we can. >> san francisco mayor ed lee took a ride last week on the oracle boat and still believes by the time all is said and done, they'll be a finance boom though rough sailing in the world economy reduced number of teens participating next year. >> and this is $1 billion for people up to registrations here. >> and the mayor says some 8,000 jobs will be created. tonight at 6:00 we're going to talk to the skipper who just won a gold medal in sailing at the olympics. this is his next challenge. live in san francisco, abc 7 news. >> there is a link to the schedule and a map showing best places to watch it from on our web site for you. click on see it on tv. >> do we have sailing weather? >> that is a question. >> you know wh

larry ellison is the feistiest guy on earth. i'm not going against oracle. >> buy, buy, buy. >> i think it's a buy. >> let's go to drew in texas. drew. >> caller: hey, drew. a bears boo-yah to you. >> what's going on. >> caller: company is ellington financial, symbol efc, they have a dividend yield of 12% with a dividend yield at the end of the month. what do you think? >> a residential mortgage reit play. i have to tell you there is a trade going where people are selling the higher yielders so you could be sensitive to that. dan in california. dan? >> caller: boo-yah, jim, from beautiful burbank, california. >> it is beautiful. i've been there. what's up? >> caller: thanks for having me on the show and for all you do for investors. >> thank you. >> caller: i want to discuss one you've mentioned in the past, west star energy. >> misunderstood, remember, safety people don't like right now. i think safety never takes a vacation. and that, ladies and gentlemen, is the conclusion of "the lightning round." >> the "lightning round" is

so everything that larry ellison has done for the america's cup has all been done to make it exciting interesting. >> can't wait for that either. >>> let's check in with rob mayeda and what's going on with the weather for this weekend. >> right now, the weather starting to cool off finally around the inner bay. sea breeze taking hold over san francisco and oakland. but still 94 degrees in livermore. down to 76 in san jose. 91 in fairfield. got that south push of air cooling off the north bay valleys. and eventually it's going to turn stronger. maybe not so much tomorrow. we'll see a similar day tomorrow except the air quality starting to improve in the east bay. enough of a breeze to stir up some of those ground level ozone concentrations. not exactly a good day for air quality just yet. we need a strong sea breeze to take the edge off the heat. santa cruz climbed into the low 70s earlier. but at the marine layer close to 1,000 feet, it's just the bay and the coast benefiting from the cooling. off to the east, you have your monsoonal thundershowers there from lake tahoe down towards y

don't say aloha to the golden state, larry ellison. we need you. an get rid of a lot of other people, but not you. i heart larry. i heart larry. >> i bet you do. >> have you gotten a response? >> no. strangely enough, no. >> i had to close that loop. >> that is a good one. if he does respond, though, you have to let us know. jane has a crush on larry ellison. dow continues -- it's 16 points. if the grind continues by the way, if today is higher, that's five straight days higher. we haven't done it since march. >> since march? >> the five days ended march 15. >> look at the s&p 500, 1405. so we'll see if we can hold on. >> the new pain trade as they call it, s&p 1475 and the t ten-year at 2%. not a lot well-positioned for that one. >> have a good afternoon. see you tomorrow. >> here's what you might have missed earlier on this morning. >> welcome to our three of "squawk on the street." here's what's happening so far. >> the banking system we have in place certainly in europe got way, way outsized relative to both the economies it was serving and most

larry ellison. >> exactly. >> you know your sailing. >> you really do, simon.encyclopedia of sailing. >> let's watch apple shares today. apple shares are making their way closer to a fresh all-time high. we are at $640 right now. yesterday, apple closed at a new record closing high. >> as you said earlier, this is the typical pattern in advance of the launch of the new products, the iphone chiefly in this instance, you get this run-up. and then potentially they book profits before the end of the fourth quarter? >> no, usually sells off immediately after the product launch and gains steam in the fourth quarter because that's seasonally the strong quarter with back to school and the holiday season all this one. apple, by the way, interesting stat with cicso increasing its dividend yesterday by 75%. apple is the third biggest dividend payer in the s&p 500. and technology dividends now account for 14.22% of all s&p 500 dividends paid out which exceeds consumer staples at this point. >> that is unexpected. although many of these companies are piling up cash at a rap

with larry ellison continuing. it is action packed. however that water is a bit choppy.sterday's practice. a viewer recorded this while on board. you can see that people were dangling when they were competing against the swedish team. >> today there is a small craft advisory. >> yes jackie was out there yesterday and it is really very close. >> yet they are from the golden gate to chrissy field. it is great to see. >> 9:37 it is a bit of a chilly day. let us take a look it is a bit gray... ♪ >>george: a major hot spot and big delays on interstate 280 southbound. the left lane remains blocked. self black mountain road. at one point it was backed up all the way to daly city. still however, from the 380 interchange. the 101 has picked up a lot of that traffic on interstate 280 as we go towards the bayshore freeway. give yourself an extra 30-45 minutes. >> thank you george despite increased crush rape crisis there has been 40 percent of food and the nine states gets thrown out. that is nearly $165 billion. the average family throws away a mere $2,200 worth of food every year

oracle's larry ellison have predicted there would be many more and his team of course is the defending champion. >> yeah. >>> all right, our time now 7:06. sal is back and you're watching highway 24 and everything else. >> that's right. we're starting in contra costa county dave and tori. westbound 24 is a good place to start. moderately heavy and it seems lighter than it was yesterday and so is 680. it's back to school but some people may have seen the commutes yesterday and said you know to heck with it. i might take b.a.r.t. and b.a.r.t. is a good option right now. trains are moving on time. we see the traffic though pretty heavy at the toll plaza. but it's not as bad as it was -- well, i don't know. now i say it wasn't as bad as yesterday but now looking at it. mmm. it's about the same. so sorry for that false optimism there. it is backed up for about a 20 minute delay. we're looking at the bridge to make sure there's nothing on the bridge that's making it extra slow. also this morning's commute on the peninsula looks pretty good if you are driving on 101. i want to move the maps o

. >> but larry ellison would love it. >> i'm thinking steve wynn.o aig. >> i want to go aig if i could. you obviously worked on the bailout, have great insight to someone who was at treasury on this. last week treasury sold a little bit more of its stake in aig and sold it supposedly for a marginal profit $30.50, the break-even, treasury said $28.72 is the profitable number. >> yep. >> the thorn in your side, a guy named neil barovsky. >> not my side. >> was a thorn in someone's side. >> he was doing his job. >> said the real price is $h $43.53, given the way the t.a.r.p. was structured with the fed we have to think about the break-even price totally differently. >> like a 90% difference. >> it's a huge difference, so i want to know from the man who actually worked on it, what is the real number and how do you get there? >> okay, so in its most simplified form, the treasury department got $1.6 billion, give or take aig shares against $48 billion of net investment, so you tell me. that works out to $28.72 a share. what neil says -- >> what is neil ta