lew was convicted as charged. then just last month an undercover officer is on-line and finds an ad for an escort service. it's in this falls church apartment building. it goes up to the sixth floor, rings the doorbell, and a woman answers the too door he gives her money. that's when several other officers then moved in. they made arrests and when they went back to look at the lease on that apartment, here's what they found. the name keyshon lew. in late july police ended up here at yet another apartment lease bid lew. however, they say this is the one in which she was living. they arrested her and took her into custody. they also seized several items from her apartment. at 6:00 i'm going to show what you they took from her place and what that could mean for their investigation. in fairfax county, i'm david culver, news 4. >>> in manassas a man is sfasing gif years in prison for helping illegal immigrants get fake social security cards and green cards. marty is an illegal immigrant from guatemala, and he pled guil

. >> reporter: they booked a flight from hand lew lew to sfo to try and beat the bad weather. the ten-year-old admits the shorter vacation meant she wasn't able to do everything she was looking forward to. >> i wanted to go on a helicopter tour and i wanted to actually swim with dolphins. >> you were going to show her the lava rocks and all of that. because of the tropical storm we were scared because they were predicting the landfalls and high winds. >> reporter: the tropical storm started grounding the flight yesterday. eight total have been canceled in and out of sfo, this includes four arrivals this morning. one alaska air flight was canceled. a departure to maui delayed more than two hours. here are a few of the lucky ones to get on a plane that took off from honolulu. >> rain at the airport. >> you could hear the people at the airport getting stressed out. >> reporter: this video shows passengers there, many forced to make last-minute changes. one flight to los angeles actually left five hours ahead of schedule to get travelers out of town before iselle stormed in. sever

along the lines of executive authority, jack lew has previously said that the executive branch of government doesn't have the authority to slow or stop corporate inversions. the practice that called distasteful, et cetera. now he's reviewing options to do so, and this is an issue that a lot of businesses probably including some of the ones paying a lot of attention to this summit were interested in. what i wanted to ask you was, what prompted this apparent reversal? what actions are now under consideration? will you consider an executive order to limit or ban such companies from getting federal contracts? and how soon would you like to see treasury act given congress's schedule? >> just to review why we're concerned here. you have accountants going to some big corporations that are clearly u.s.-based and have the bulk of their operations in the united states and these accountants are say iing we fou a great loophole. if you flip your citizenship to another country, even though it's just a paper transaction, we think we can get you out of paying a whole bunch of taxes. well, it's not fair. it

along the lines of executive authority, treasury secretary jack lew has previously said that the executive branch of government doesn't have the authority to slow or stop corporate inversion, the practice that you have called distasteful, unpatriotic, et cetera. now he is reviewing options to do so and this is an issue that a lot of businesses, probably including some of the ones who were paying a lot of attention to this summit, are interested in. what i want to ask you is what prompted this apparent reversal? what actions are now under consideration? will you consider an executive order that would limit or ban such companies from getting federal contracts? and how soon would you like to see treasury act, given congress' schedule? >> just to review why we're concerned here, you have accountants going to some big corporations, multi national corporations that are clearly u.s. based and have the bulk of their operations in the united states and these accountants are saying we found a great loophole. if you just flip your citizenship to another country, even though it's just a paper transact

as we prepare to mark that 49th anniversary that secretary lew just mentioned, we know that medicare is considerably stronger than it was just four years ago. the life of the medicare trust fund has been extended, cost growth is down, the quality of the care our parents and grandparents are receiving is improving, and it's easier for them to afford their prescriptions and obtain important services like flu shots and diabetes tests. the report we're releasing today adds to the evidence on affordability. first, the life of the medicare trust fund has been extended by four years through 2030. last year's report estimated it would be funded only through 2016, and in 2009 that estimate was for 2017. second, the report finds that medicare spending per beneficiary is growing slower than the overall economy. per capita spending grew at an annual rate of 0.8% over the last four years, significantly lower than the growth per capita gdp of 3.1%. finally, i want to highlight the report's finding that the part b premium growth has slowed dramatically. our preliminary projections suggest that part

along the lines of executive authority, secretary jack lew has previously said the executive branch of government doesn't have the authority to slow or stop corporate inversions. the practice you have called distasteful or unpatriotic. now he is reviewing options to do so, and this is an issue that a lot of businesses including probably some of the ones paying a lot of attention to this summit are interested in. what prompted this apparent reversal. what actions are now under consideration? will you consider an executive order that would limit or ban such companies from getting federal contracts? and how soon would you like to see treasury act given congress' schedule? >> just to review why we're concerned here, you have accountants going to some big corporations, multinational corporations, but that are clearly u.s. based and have the bulk of their operations in the united states and these accounts are saying, you know, we found a great loophole. if you flip your citizenship to another country, even though it's just a paper transaction, we think we can get you out of paying a whole bu

it's going to be interesting to see what jack lew has to say.doesn't mention warren buffett, and i really do wonder whether they back off their plans for regulation. that's another thing that a lot of people in the market are talking about. are they really going to come out with a plan to penalize companies that move overseas when you have their biggest democratic, their biggest wall street supporter or biggest -- biggest supporter of corporate america is warren buffett coming out and doing within of these deals. adam: i know you talked in depths about this issue, i was curious about the fact that several large companies that stay -- >> analyst ken underwood? adam: i'm kidding you. i know that you're heart broken about ken moving on. >> ken underwood is one of the great american journalists of our time. adam: he is. he's moving on, but i want to get to a -- >> [inaudible] >> don't want to go there. i want to go here. google, microsoft, apple, they've got billions of dollars parked overseas. >> right. adam: they don't do a tax inversion, and yet

these sort of dry memoirs and lots of them and letters and so on, journals, and orders, here you get lew wallace who writes his memoir, you know, 40 years after the fact, writes it in a flowery 19th century novelist style. and when wallace says that they arrived here in the morning and lit their campfires, he'll say something like, you know, the steely sky gave way to a brilliant orange sun as we made our way down to the junction and the campfire smoke curled up, which was great. of course, you have to balance what wallace says in his memoir with his telegrams from the battlefield, his after-action report the day after, his after-action report two weeks later, because wallace had a way of making himself sound really good, and, you know s he did a very brave thing here, can't get away from that, and as i say in the book, i believe and i think the judgment of history is that what wallace did here, did save washington, d.c. so this battle took place on july 9th, 1864. right now it's november 2nd of 2007 and it's a beautiful fall day, but one thing to keep in mind about this battle was that

lew was saying, hey, you know what?st we thought you needed congress, but then, next thing, you know, you have to have a few more people over there, and then all these lawyers who have been issuing the comfort letters come back and say, well, we made a mistake. they put the merger in place a long time ago. they haved too a restructuring. years to undo this thing. i just say be care. . buying stocks because you want inversions, selling cvs because there's no inversion, think about earnings. not going to earn 550 in fiscal year 2013, earns less than that. a global power house, you want to buy walgreen's here, not sell it. i know people don't want to hear that, butment to join the fray. jim, jump overboard. no. cvs had a good quarter. >> walgreen is the worst component, down 16% now. >> that is nasty. >> ralph lauren we have not mentioned, 1.80 versus 1.76. looking for comps. >> traditionally offered conservative guidance. they are flat lined. overall, buy -- i don't have a hedge fund, but divide by ten. realize this stock

. >> here's the interesting thing, the president and jack lew the treasury secretary do a huge push on companies that do the corporate inversions, they merge with a foreign company and go set up headquarters at u.s. companies set up headquarters in the foreign country and avoid the u.s. taxes or get a significant tax break because of that. my guess is in the old days that mr. buffett would be the poster child, the wall street poster child for president obama in this push as you natural 2012 before the presidential election, buffett was sitting at the state of the union address and called for a new tax. adam: yes, on the rich. >> something called the buffett tax to equalize the fact that billionaires like himself basically pay capital gains tax instead of regular income tax, they get paid mostly through stock as opposed to regular income. just let me make that point. because of this thing he ain't going to be trotted out there. i wonder how much this hurts the president's efforts, he was going to do it through executive order with jack lew to penalize companies from moving overseas when

the president through some sort of executive action could go out there and impose a penalty as jack lewthreatened. but the fact that warren buffett is involved is going to make it that much more harder for jack lew and president obama to do that. >> thank you so much for the weighing in. >>> come up, our fox news focus groups deliver a verdict on media credibility and it isn't pretty. >>> and later, we'll call foul on espn's reporting on the showering habits of the nfl's first openly gay draft pick. dentures are very different than real teeth. they're about ten times softer and have surface pores where bacteria can multiply. polident kills 99.99% of odor-causing bacteria and helps dissolve stains. for a cleaner, fresher, brighter denture everyday. oh boy, this always happeyou're clean.ther. you got that right! bam! just gotta check your bag. huh, charmin ultra strong. you're cleaner than i thought. charmin ultra strong cleans so much better it meets even his highest standards of clean. with a soft duraclean texture, charmin ultra strong is 4 times stronger. and you can use up to 4x less

the president through some sort of executive action could go out there and impose a penalty as jack lewened. but the fact that warren buffett is involved is going to make it that much more harder for jack lew and president obama to do that. >> thank you so much for the weighing in. >>> come up, our fox news focus groups deliver a verdict on media credibility and it isn't pretty. >>> and later, we'll call foul on espn's reporting on the showering habits of the nfl's first openly gay draft pick. ♪searching with devotion ♪for a snack that isn't lame ♪but this... ♪takes my breath away ♪ until the sun went down ♪ and many fantasies were learned ♪ ♪ on that day ♪ keep feeling fascination ♪ . . . . people. what about excess? i think about the coverage of ferguson as the latest example. it seems to me that cable tv in part turns it into a nightly reality show and may have exacerbated racial tensions there. and i don't think that that helps the media's reputation, either. >> absolutely, howie. it's supersonic social media. david brought it up before. that -- and i've used this analogy before, it

it's true, what treasury secretary lew said, we can't solve the entire problem. but we're doing is examineing are there elements to how existing statutes are interpreted by rule or by regulation or tradition or practice that can at least discourage some of them folks who may be trying to take advance think that of this loop hope. i think this is something that would bother the average american. they benefit from operating in the united states just to avoid paying a whole bunch more taxes. we're reviewing our options as usual. and related to the answer i gave jonathan about executive actions my preference for us to get something done in congress. and keep in mine, still a small number of companies that are resorting to this most american companies are proud to be american. recognize the benefits of being american, and are responsible ors in paying their fair share of taxes. but you know, we don't want to see this trend grow. we don't want companies who have up until now been playing by rules suddenly could saying -- suddenly saying, what some of our competitors ar

jack lew has previously said the executive branch of government doesn't have the right to -- but -- the authority to stop slow and corporate inversions. -- but now he is reviewing options to do so, an issue that a lot of businesses, including some of the ones paying attention to this summit, are interested in. what prompted this apparent reversal, what actions are now under consideration? will you consider an executive order that would limit or ban such companies from getting federal contracts and how soon would you like to see treasure -- treasury act given congress's schedule? >> just to review why we're concerned here. you have accountants going to some big corporations. multinational corporations that are clearly u.s. based and have the bulk of their operations in the united states, and these accounts are saying you know what, we found a great loophole. if you just flip your citizenship to another country, even though it's just a paper transaction, we think we can get you out of paying a whole bunch of taxes. well, it's not fair, it's not right. the lost revenue to treasury means it

treasury official telling us on this issue that treasury secretary jack lew is still asking his staff up with ways to possibly curb tax inversions. they want congress to go first here. adam: rich, let's get right to what you just said about the u.s. having the highest corporate rate. who pays it? even burger king said the continue tax rate is really around 26, 27%. has anyone addressed the real issue in regards to that? >> reporter: well, they will get a tax break on their future overseas income. they may be paying about the same right now on their u.s.-based income, but they have a lot of cash trapped overseas, and this is the problem for a number of different u.s. corporations. if they become a canadian company, they can invest within the united states, and that's what's called repatriation. you pay that higher u.s. tax rate. so that's the issue there. of course, yes, 35% if you're one of the few businesses paying that top corporate tax rate, there are a few businesses, especially oil and gas, mostly subjected to that. most u.s. companies probably don't pay that very top rate. but y

along the lines of executive authority, secretary jack lew said that they don't have the authority to slow or stop practical conversions you but now he's reviewing options to do so, and this is an issue that a lot of businesses probably those who were paying interest to the summit are interested in. what actions are now under consideration will you consider an executive order that would limit or ban such companies from getting federal accounts, and how soon would you like to see treasury react given congress schedule. >> just to review why we're concerned here. you have accountants going to big options, multi national corporations but that are clearly u.s. based and have the bulk of their operations in the united states, and these accountants are saying we found a great loophole. if you flip your citizenship to another country even though it's just a paper transaction, we think we can get you out of paying a whole lot of taxes. well, that's not fair. it's not right. the lost revenue to treasury means it needs to be made up somewhere where, and that's typically going to be a bunch of h

police say this man was dealing in lsd-like had a lew-- had a ls againic. cops say they busted him after they caught him selling the drug. he faces several drug charges. it is made to mimic the effects of lsd. it can be smoked, snorted on ingested. they say the drug is easily manufactured. they say small amounts can cause death. a virginia mother described what happened after her daughter took it. >> ambulance and police there. my daughter was in a psychotic state, strapped down in an ambulance. >> they go to parties and it is passed out. students bring it to school and pass it around. >> in november, the drug enforcement administration declared it illegal. to read more about the dangers linked to this drug, log on to nbc10.com. >>> we have had heat over the last couple of days. the humidity up a little bit. we will see a big change in the next 24 hours. a lot of relief in the heat and humidity department. a hot weekend though. the heat and the humidity are going to return. the humidity especially high this weekend compared to what we have seen much of this

what makes this particularly interesting is just last month, treasury secretary lew said that was not possible. take a look. >> we do not believe we have the authority to address this inversion question through administrative action. if we did, we'd be doing more. >> senator, that was just a few weeks ago, what's changed? >> the larger point here is that we should act in congress. >> why was it that in mid july that the treasury secretary said he didn't have the power to stop inversion and now the president says they do. >> there are some technical areas where treasury can apply the impact of the 2004 law. let me be clear on this point. in 2004, a republican congress and a republican president joined with democrats in the house and senate to pass a law to address inversions as a problem when it was first emerging. there are provisions in that law that they are looking hard at. they would prefer that congress would act in bipartisan way as they did a decade ago. but in the absence of congressional action, i do think treasury will do something to step up and stop the bleeding. >> govern

just last month treasury secretary lew said that was not possible.e a look.not >> we do not believe we have the authority to address this inversion questions through administrative action. if we did, we would be doing more. >> senator koons, that was justs a few weeks ab. >> the larger question is we should action in congress. >> i'm asking why was it in mid july that the treasury secretary said he didn't have the power for executive action to stop inversion and now the president says they tdo. d >> there are some technical areas where treasury can continue to apply. the impact of the 2004 law, let me be clear on this point. t in 2004, a republican congress and president president joint with democrats to pass a law tov assist inversions. there are provisions in that law that treasury is looking hard p at. th they would prefer that congress act in a bipartisan way, as they did a decade ago, to stem the jojob loss and revenue loss. in the absence of congressional action, i think treasury will step up and do something to sto the bleeding. >> governor, i

he added they're going to have a $6 billion share repurchase pr in lew of or perhaps in lew of this overall now, time warner has also in the last few minutes released it's own statement regarding the falling out of this deal and the following through. time warner's board and management team are committed to enhancing long-term value. we look forward to continuing to deliver substantial and sustainable returns for all stockholders. time warner is well positioned for success with our iconic assets including the leading premium television brand the strongest ad supported fourth quarter group and largest film and tv studio. we thank our stockholders for their continued support t. drama is playing out. rupert murdock saying they refused to engage us, time warner saying our shareholders are better off. we got continued support from them. we tank them. back over to you, guys. >> let's go to contributor jim stewart also the columnist at the fork times. tanks for calling in. we appreciate it. >> sure. >> it seems surprising rupert murdock said time warner i'm out of here, i am using that money. i wi

eight cory 01 in seaford and 8:24 in lewes, delaware.se storms are dropping southward all the heat has been building. that looks like the highest chance for seeing any thunderstorms. we'll get in on the action when it comes to the rain. recapping today, 83 was the high. 85 is the normal. 82 right now. it feels more like summer were the heat and humidity. that's been building all week. n dover. 75 in wildwood. 80 in allentown and 74 in mount pocono. fox future cast showing showers and storms sweeping through between about seven and 8:00 p.m. i'd say here in the city. so downpours not out of the question down at the linc and especially down in delaware model is hinting to the chance for heavy showers and storms washington, baltimore, they're all seeing it, too. so that's where you live just keep an eye out because we probably will see some of those stronger storms. otherwise it's just scattered showers as we go 32 tonight. early tomorrow morning friday 7am notice it's the coast that is seeing the rain then. we'll watch all of that rain are

. >> a's co-owner lew wolff still hopes to build a ballpark in downtown san jose but the giants don't want that to happen. baseball officials still haven't given the a's permission to move to santa clara county. there is an antitrust lawsuit pending by the a's against major league baseball. >>> seven afghan police officers are dead after one of their colleagues opened fire. authorities say the shooter stole the victims' weapons and got away in a police car. last night's attack happened hours after another shooting in afghanistan that killed a u.s. general. a man dressed as an afghan soldier opened fire on a secure military post near kabul. that gunman armed with a machine gun fired from the window of a nearby building. 15 allied soldiers were wounded including 8 from the united states. the man who was killed, major general harold greene, is the highest ranking u.s. officer to die in battle overseas in 44 years. he earned a ph.d. at the university of southern california and this is green's first deployment to a war zone. >>> now the very latest developments on the israel- hamas conflic

along the lines of executive authority treasury secretary jack lew has previously said the executive branch of government doesn't have the authority to stop or slow company inversion. what you've called distasteful and unpatriotic. but now he's reviewing options to do so and a lot of businesses including some of the ones who are paying attention to this summit are inned in. what i i wanted to ask you what prompted this apparent reversal, what actions are under consideration. will you consider an executive order that would limit or ban such companies from getting federal contracts and how soon would you like to see treasury act given congress's schedule? >> just to review why we're concerned here. you have accountants going to some big corporations, multinational corporations but that are clearly u.s. based and have the bulk of their operations in the united states and these accountants are saying we found a great loophole. if you just flip your citizenship to another country, even though it's just a paper transaction, we think we can get you out of paying a whole bunch of taxes. well

i think call maybe ought to be made to secretary lew, let's get the respective relevant chairs in a roomver august and september. we can have something ready to go when we get back. let's not spend the time at treasury trying to come up with little fixes. >> in the absence of any agreement on legislation, president obama is, in this area as well, talking about possibly taking executive action to stop tax inversions. what makes this particularly interesting is just last month, treasury secretary lew said that was notpossible. take a look. >> we do not believe we have the authority to address this inversion question through administrative action. if we did, we'd be doing more. >> senator, that was just a few weeks ago, what's changed? >> the larger point here is that we should act in congress. >> why was it that in mid july that the treasury secretary said he didn't have the power to stop inversion and now the president says they do. >> there are some technical areas where treasury can apply the impact of the 2004 law. let me be clear on this point. in 2004, a republican congress and a rep

. >> a's co-owner lew wolff still hopes to build a ballpark in downtown san jose but the san francisco giants want to block the plan and major league baseball is not giving the a's permission to move to silicon valley. san jose has an antitrust lawsuit pending against mlb. >>> santa clara county superior court system is closing some facilities to deal with a deficit caused by receiving less money from the state. civil small, claims traffic courts in morgan hill and small claims traffic courts in palo alto will have cases moved to san jose and santa clara and that starts october 6. >>> the family of a fallen cal bears football player wants people to know what was lost in his death. >> people will see what incredible family this is -- what an incredible family this is, what a tight unit they were the type of relationship. >> lawyers began a news conference by putting up photographs of ted agu. he collapsed and died after team conditioning drills last february. the cause of death was an undiscovered heart condition. the family disputes that. it filed a wrongful death suit saying the train

lew wallace, after the war, became a novelist and wrote the most popular memoir which was bon-mur. and after reading these dry memoirs and lots of them and letters and so on and generals and orders, you have lew wallace who writes his memoir 40 years after the fact, writes it in a flowery 19th century flowery style. when wallace says they arrived here in the morning and lit their camp fires, he'll say something like, you know, the ste ste steely ska gave way to the orange sun and -- which was great. you have to balance what wallace says in his memoir with his telegrams from the battlefield. his after reaction report two weeks later because wallace had a way of making himself sound really good. and, you know, he did a very brave thing here. can't get away from that. and as i say in the book, i believe and i think the judgment of history is that what wallace did here did safe washington, d.c.. so this battle took place on july 9th, 1864 and right now it's november 2nd, 2007. it's a beautiful day. but one thing to keep in mind about this battle is it was very, very hot. they didn't ha

lewes delaware the university of delaware it is 74. reading 74.ubon elementary school in norristown 72 degrees with cloudy skies. root now in philadelphia at the airport 73. 71 pretty cool in trenton. 66 in the pock nose. and 70s down the shore. air temperature cooler than the ocean. the owing at 77. we'll watch a warm front lift through during the day on tuesday with a occasional showers. really not big deal. but this front moves through, which will be late tuesday into early wednesday i expect some of the heavier rain to fall and thunderstorms some of which could be severe in the wake of that morning showers on wednesday. giving way to some clearing skies with breezy conditions. northwesterly winds will be blowing after that, though, fair weather high pressure builds in. it will be sunny, it will be d dry. temperatures will be below average but it will be comfortable once again just like last week with highs in the 80s. the severe threat will be especially tuesday night. the potential for some heavy rain even some damaging winds. you can see tha

hey here you get lew wallace who writes his memoir, you know, 40 years after the fact, writes it in a flowery 19th century novelist style. and you know, when wallace says that they araved here in the morning and they lit their campfires. he'll say something like that the steely sky gave way to a brilliant orange sun as we made our way down to the junction and the campfire smoke curled up. which is great. you have to balance what he says in his memoir with his telegrams, his after action report the day after and two weeks after. he had a way of making himself sound really good. and, you know, he did a very brave thing here. can't get away from that. as i said in the book, i believe and i think the judgment of history is that what wallace did here did save washington, d.c. so this battle took place on july 9th, 1864. right now it's november 2 nt of 2007 and it's a beautiful fall day. one thing to keep in mind about this battle was that it was very hot. it had to be in the mid to upper 90s and very humid. wallace set up headquarters on a very good tactical spot and that was on the east b

confederate troops were loose in the streets of washington, d.c., so number one, i do believe that what lew wallace did at monacacy did save this from happening. wallace was relieved of his command after he lost that battle, but within two weeks, grant had reinstated him and grant writes in his memoirs and just about everyone else who knows about this agrees, had wallace not on his own blocked early for an entire day, early very well, very well could have caused havoc in washington, d.c., so this is the battle that saved washington and changed the course of american history. you know, think about it. lee's fourth objective and probably his most important in his mind was to try to force grant to take troops out from around richmond and petersburg. grant didn't want to do it. he wait the until the last minute and finally did it. the number of troops went down drastically from like 137,000 at the end of june to like almost 70,000 two months later. it did work but it didn't work until april '65. if lee had not forced grant to do this, i really believe that the war could have ended sooner. maybe

walgreens staying in the united states, treasury secretary, jack lew, has called these deals unpatrioticpresident obama has called the companies corporate deserters. if the deal does go through, it could add further urgency and speed up reform on capitol hill. i'm sara eisen. >>> here's another big deal today to tell you about. roche, the swiss drug company, is paying nearly $8.5 billion in cash for u.s. biotech company, intermune, helping the world leading maker of cancer drugs expand into lucrative rare disease treatments. intermune has a promising new drug to treat a lung condition. shares surged 35% today. meg terrell has more on what's driving this merger. >> reporter: health care companies have been on a buying spree. from pfizer's attempted deal to buy astrazeneca for almost $120 billion to the successful purchase of shire. mergers and acquisitions in the industry are at a record high. traditional targets, biotech companies, haven't been the main event this year. as companies pursue m & a for tax reasons. >> there has been an increased number of these transactions that are tax inv

. >> just last month, however, treasury secretary jack lew suggested the administration would have tothrough congress to address this issue. >> we have looked at the tax code. there are a lot of obscure provisions in the tax code. we do not believe we have the authority to address this inversion question through administrative action. if we did, we would be doing more. that's why legislation is needed, that's why we've proposed it in our budget. >> dozens of u.s. companies have incorporated overseas in the last decade, including tim hortons, sara lee, chiquita brands and medtronic. there is speculation that wa walgreen would move overseas, but they say the best decision for shareholders is to stay in the u.s. a report from the joint committee on taxation estimates that the u.s. will lose at least $20 billion over the next decade if the inversion trend continues. so, this brings us to our twitter question for you this morning -- how do you feel? is it right for american companies to move their headquarters overseas to lower their taxes? tweet us your answers using #waytooearly. we'll p

team owner lew wolff was on hand for yesterday's final vote by the joint powers authority. but he was quick to stress he still wants a new stadium. he said that may be in oakland or someplace else. the deal includes a new $10 million scoreboard for next season. >>> the new 49ers stadium in santa clara has scored another big event. the nhl says the san jose sharks and levi's stadium will host an outdoor hockey game next year. the sharks will play the l.a. kings on an ice rink that will be built on the football field. the nhl stadium series has drawn huge crowds. tickets go on sale today for sharks and kings season ticketholders as well as seat licenseholders at levi's stadium. and remember, the first 49ers preseason game is today against the ravens in baltimore. you can see it at 4:30 here on kpix 5. >>> time now is 4:39. russia is pushing back against sanctions issued by the west. how much russia's retaliation is expected to cost the u.s. economy. ,,,, on august 4th, two unsuspecting men walked in to a mcdonald's and discovered an extraordinary burger with heaps of jalapeño

along the lines of executive authority, treasury secretary jack lew has previously said that the executiveve the authority to slow or stop corporate inversion, the practice that you have called distasteful, unpatriotic, et cetera. now he is reviewing options to do so and this is an issue that a lot of businesses, probably including some of the ones who were paying a lot of attention to this summit, are interested in. what i want to ask you is what

. >> just last month, however, treasury secretary jack lew suggested the administration may have to go through congress to address the issue. >> we have looked at the tax code. there are a lot of obscure provisions in the tax code. we do not believe we have the authority to address this inversion question through administrative action. if we did, we would be doing more. that's why legislation is needed. that's why we proposed it in our budget. >> so that's the focus of "the wall street journal" editorial this morning saying the president sounds like he's going to be writing the tax code by executive fiat which violates the constitution separation of powers. i guess, harold, come on. okay, so we've got harold ford jr., you're a professor. you work on wall street. so you understand this stuff. and we have brian sullivan. you work at cnbc. that's all i can say for you. you guys need to explain -- no, i love you. you guys need to explain to me why is it that americans with american corporations with their families living in america, being educated in america, using public school systems, g

things how regulators react and we saw senator joe manchin sent a letter to treasury secretary jack lew as first straight out ban on big oil and there's been several hearings in congress i mean this is caused a little bit of a stir in washington so we are serving as a resource to public policy. makers something goes on with digital assets. digital currency will go will speak with that will explain to them what's going on because there's not really a good resource to turn to if you have a question for big point nobody owns big point decentralize so member of congress has a question here it's called headquarters right so that's kind of what we're looking to do and hopefully we can set up some basic guardrails for the industry to do to appease congressional concerns a lot of concerns over the strength of it being decentralized the technology is great but you centralization in washington is not great because then you don't have somebody actually lobbying on behalf of this a big point let's go back a few years because as you mentioned you were pulled into the vortex that has been going you w

i want to extend my appreciation to secretary lew for their contributions to this process. also, to the staffs that have are presented of them and the deliberations throughout the course of the year. the stats have shown incredible dedication, and commitment, expertise, as we have put this together. and the actuaries and their staff to of been incredibly constructive. a primaries possibility is to ensure public analyses and objectives that the use data available. they employ the most important assumptions. as chuck indicated, both he and i agreed that we can provide such assurance of the public without hesitation. once again, we feel we've participated in an open discussion of numerous issues that have to be dealt what each year as these reports are put together. let me say a few words about content of these reports. the bottom line message -- it differs little from those of recent reports. i add my voice. as emphasized, both of these vitally important programs, unsustainable over the long run and require legislative intervention to correct. the sooner the policymakers addr

treasury department is putting together a list of options for secretary jack lew to consider ways to prevent u.s. companies from reloengting overseas, primarily to avoid higher tax rates. inversion deals have become increasingly popular. more than 50 have been struck over the past decade. lew, the treasury secretary, is expected to pick one or more on the options pb but recommendations are limited as far as what he'll recommend to the president. officials say it could range from specific rules to a round of changes. that strig triggered the white house to take steps to prevent companies from taking such deals and hint it could act on its own. u.s. lawmakers agree the tax inversion should be curbed, but they can't agree on exactly how to proceed. some democrats say passing a stopgap measure while some republicans say the best way to stop inversion is an overhaul of the entire u.s. tax code. president obama's powers are relatively limited. others believe the white house can take steps including how to address the treatment of a company's debt and equity under current u.s. tax laws. so

these sort of dry memoirs and lots of them and letters and so on, journals, and orders, here you get lew wallace who writes his memoir, you know, 40 years after the fact, writes it in a flowery 19th century novelist style. and when wallace says that they arrived here in the morning and lit their campfires, he'll say something like, you know, the steely sky gave way to a brilliant orange sun as we made our way down to the junction and the campfire smoke curled up, which was great. of course, you have to balance what wallace says in his memoir with his telegrams from the battlefield, his after-action report the day after, his after-action report two weeks later, because wallace had a way of making himself sound really good, and, you know s he did a very brave thing here, can't get away from that, and as i say in the book, i believe and i think the judgment of history is that what wallace did here, did save washington, d.c. so this battle took place on july 9th, 1864. right now it's november 2nd of 2007 and it's a beautiful fall day, but one thing to keep in mind about this battle was that

jack lew, the treasury secretary, will be speaking shortly. >> good morning and welcome. michael bloomberg, our host, honorable penny pritzker, secretary of commerce of the united states, excellence eleven says -- excellencies, heads of state in government, chief executive officers of u.s. and african companies, leaders of delegations and ministers, ladies and gentlemen, i'm delighted to address this business forum on the occasion of the historic u.s./africa leaders summit. this engagement between government and business is an important steppingstone towards evaluating and strengthening the relationship between africa and the united states which is the purpose of our endeavors this week. this engagement coming at an important moment in the continent when many economic, social and political indicators are moving in the right direction. and there's general consensus amongst the leadership and citizens of africa that africa is taking charge of its destiny to navigate a different course towards prosperity. the consensus is reflected in the agenda 2063, and in the sectoral str

lew wallace was another interesting character and he was from indiana and from a prominent family.iana when the war started. he was their leader. he scored an early victory right after first manassas when the union was looking for heroes and the union press played him up very big and he became a general. that was his high point. his low point was at the battle of shiloh when his regiment got lost the first night. probably not his fault. rough terrain, bad weather, dark, fog of war situation. but grant and halleck were very upset after shiloh. he did fight the second day but they shoved him to the side after that. and his job was, at this point in the war, the commander of the unions middle atlantic department, which was basically his job was military governor of baltimore. well, reading the same intelligence that the union high command got, didn't do anything about, wallace did something about. now, the other thing that helped him here, the head of the b & l railroad, a man named john garret, had his network and station managers sending tell grahams back saying there's an entire co