>> i invested in lyft before they were even lyft.id not really do an a to b comparison at the time. a lot of companies pivot or evolve to something slightly different. we realize it an interesting opportunity. >> at this point, how do you feel about its chances seeing how uber has has grown? >> i think lyft is growing at a good clip, too. i think lyft is going extremely well. they are executing extremely well. i think lyft is here for a long time. >> uber has -- lyft has raised $3 million or so. valued at $17 billion. investors are very optimistic about uber's future. some say it is not worth that. >> i think investors are not always right. i wouldn't just use the evaluation prescribed to a particular business as assessing it. at the end of the day, consumers and users will vote with their feet. both will be successful and transformative. cars will transform the way americans work and get to work, commute, travel. >> do you think uber is worth $17 billion? [laughter] >> i'm an early stage investor. i focus on the two kids in a garage

lyft's ceo will join me here. lyft, andft, -- wise it sparking so much controversy? if you see a giant pink mustache driving towards you, don't be alarmed. liyfyft car.it is a >> the passengers badly, the driver is smiling. >> these let you use app to get a ride. >> owning a vehicle is the second-highest household expense. there had to be a better way to collect -- connect people who needed a ride. >> opening up, enter your location, and a car shows and. -- shows up. than a black sedan, or a taxi, and it helps put cash in the pockets of regular people. >>. between main. lifts inrted offering his car. he can bring enough to do under dollars a day. >> you can really be able to help out. a lot of people -- i need rides. you get to be there for them. >> matt miller joins us from new york. matt, we will see you taking a ft in new list -- a ly york. >> i used my own car, put pink mustache on it, and drove around. >> i can we do see it. no one asked you about the new york attorney general's -- what is happened this morning. all of this developing in the last hour. eric schn

>> i think lyft is growing at a good clip, too. i think lyft is going extremely well.y are executing extremely well. i think lyft is here for a long time. lyft has raised $3 million or so. valued at $17 billion. investors are veryptimistic about uber's future. some say it is not worth that. >> i think investors are not always right. i wouldn't just use the evaluation prescribed to a particular business as assessing it. at the end of the day, consumers and users will vote with their feet. both will be successful and transformative. cars will transform the way americans work and get to work, commute, travel. >> do you think uber is worth $17 billion? [laughter] >> i'm an early stage investor. i focus on the two kids in a garage kind of thing and not the late stage. >> big picture -- it looks like uber has a good foothold in markets around the world. do you see lyft being that big or are they a niche player? growing rapidly notwithstanding this new york saga. lyft has grown massively in the past two years. i suspect you will see lyft thriving. >> what do you think that th

lyft become legal in new york? they are negotiating with the taxi and limousine commission after it was sued hours before launch on friday and they say it will not launch and become -- until is approved. callnn is hearing apple's to reduce carbon emissions and factories. the chinese manufacturing giant which makes smart phones, tablets, and more just unveiled plans for an environmentally friendly campus in southern china. the factory there will be energy efficient and use less chemicals and more recyclable material. it is part of foxconn's effort to expand into areas like auto electronics and cloud computing. we got a firsthand look at the site in china. the foxconn chairman has a vision -- a bustling business nestled in the mountains with engineering and academics. we sent a lot of engineers, highly skilled people here, they love this place, its temperature, humidity, air, it's a good place to the late high-tech hub. is the only place aside from beijing that can be the chinese silicon valley with peking university

lyft will be the only company that's actually using the ride sharing model.ng, regular people with regular cars that haven't actually been licensed by the city. even uber, which using a ride share model elsewhere doesn't actually do that here prp the two that tried, side car and rely rides had to abannon it. why? new york regulators say it violates insurance laws. the state's department of financial services issued a cease and desist letter to lyft this week and the city's taxi and limousine commission deemed lyft service illegal threatening to con if a it skate cars and fine drivers that aren't license pd with the city. lyft issued a safety commitment of its own in response and promising drivers it will cover costs related to this conflicts. the company is launching tonight, regardless. carl, back to you. >> morgan brennan in brooklyn for us this morning. thanks. >>> on lyft's controversial debut joining us, chair and ceo-of-new york city's taxi and limousine economics, meera joesh joshi. how can they do this, if not allowed? >> no such thing as a free ride?

lyft is fist bumping its way into the big apple.hey are making positive progress with local and state leaders. the pink mustaches will hit five boroughs tonight at 7 p.m. what did they do to be able to get on the road? matt miller has followed this story very closely. matt, what exactly did lyft agree to to make this happen? >> i feel that they sold all of their principles out and decide to become a regular cab company with an app. >> how very new york of them. >> exactly. i don't see how any of this progress is progress or positive. there are only allowed to use tlc, taxi and limousine commission cars. they're only allowed to use tlc, taxi and limousine commission drivers. the whole point of lyft it is a peer to peer ride sharing service. if i am driving and i am a qualified lyft driver and you want to go with me, i can swing by and pick you up and we split the costs. that is the idea. this is not that idea. i think it is awful. >> so we're not going to see you or alexis ohanian of reddit hitting the streets tonight picking up rand

oh, it's lyft. you can be like, oh, it's lyft.out protests. the new york taxi and limousine commission has refused lyft certification because they say lyft has not complied with their transportation requirements. >> lyft is going ahead anyway. >> as you may have heard, we're going face challengies a loienig the way. >> you can imagine a future you step out of your house, request a lift, pick up someone else going to the same office and you get there for a few bucks. basically we're rebuilding public transportation by the people for the people with a system that is needed today. >> you're trying to make every lane a car pool lane. >> absolutely. >> how long does that take? >> it'll take a few years but it's happening very quickly. >> today lyft is coming to new york city's outer >> my husband says he's not getting in a car with a pink moustache. >> i think it's clever. clever and very catchy. sometimes you just want to get in the car. >> they're going at it. >> i think we should all car pool more. >> you think we should car pool to

lyft says there is a smear campaign to shut down their business. china central television reported location tracking software in the iphone could lead to the leak of state secrets, but apple says it does not track user locations and does not have any backdoor deals with governments. google is expanding its presence in san francisco as more young tech employees are sticking to work in the city instead of the valley. it has bought a building on the embarcadero and is leasing 250,000 square feet of a tower, a cluster of offices within blocks of each other. the lead story of the day. it will be a little longer before lyft cars with pink mustaches hit the streets of new york city. they said they will launch when the eyes are dotted with the limousine commission. new york state did not issue an injunction for violating state and local laws. they are trying to reach an agreement. here is cory johnson. in new york, matt miller. i know you have been following this all day long. what is the status quo now? >> i have been following the story for weeks. i spen

before lyft gets into brooklyn and queens. what would it take to be a lyft driver? got a lesson from the lyft co-founder. >> lyft is trading in the hills of san francisco for the cobblestone streets of brooklyn. while the startup typically requires four-day cars, they made an exception to allow me to drive in style. why do you guys pick brooklyn and queens rather than, you know, manhattan, for example? >> the need for transportation s greater. ou have 95% happening. so people need affordable transportation here, and that's what we're all about. >> the company just received $250 million in defunding and is burning through some of that cash, offering the first two weeks of rides for free. >> it's a true opportunity. what we're building is at the scale of building out an international highway system, an international railroad, and it's a massive opportunity. >> he says it's more of a social experience than a typical limo service and suggests you ride in front and give the driver a fist pump. what's the deal with the fist bump? >> all these things are suggestions. they'

use of the kinds of things the to adhereto get lyft to. they say they are cooperating together well, and are set to reach an agreement. it is not a caustic situation. it is not something where they are angry with each other and trying to stop each other. they are just trying to find a solution together, and it is going to take a little bit longer. >> the new york attorney general has cracked down hard on lyft, on airbnb. we have seen a lot of services just launch and see what happens without figuring out local laws. technically, they are breaking the law. what is the way to go? what is the way to launch? works for all the libertarian urges and notion that government does not serve a purpose, the reason these laws exist is because of his history of abuse, a history of problems with taxi drivers, with people who rent out rooms in hotels. they go back more than 100 years. these government organizations have crept up to fight the pernicious problems which have shown themselves in the past, long before these services were a twinkle in the eye o

lyft drivers attach a pink mustache on the grill.about having a good time. >> it looks a little ridiculous. >> it gets people to talk about it and kicks things off on a fun note. >> there you go. >> the fun includes a recommended fist bump with your diver, and ideally sitting in the front seat and not the back. >> get to where you need to go and meet a new friend. >> it may sound strange, but zimmer says he is going to transform transportation as we know it. >> the car used to be a symbol of freedom in america, and i think now it's an extreme burden to own and operate a car and that comes in the form of parking and traffic and in the form of expenses and maintenance and insurance, and so when you can provide a service that eliminates all those things it's a exciting proposition. >> he said nearly 80 seats in all the cars in the country are empty. uber does the same thing, but lyft is friendlier. passengers and drivers are encouraged to chat. a donation is suggested and the driver keeps 80%. >> uber has a huge head start you on. >> th

we are talking about lyft, l-y-f-t, the peer-to-peer ride sharing company using the lyft app. the company operates in 60 cities around the u.s. and have venture capitalists including horowitz and alibaba. the company faces stiff competition. the ride share service uber has been operating in the city for more than three years kshths start-up succeed in the city that never sleeps. joining me ryan lawler. we have so many questions. why do you think lyft is choosing now to enter into new york city when uber has been having such a regulatory fight in the city? >> i think what's interesting is that lyft actually waited a long time relatively speaking to enter new york. it's in 65 cities throughout the u.s. and so it actually took its time a little bit. launched in a lot of other places first before it decided to go into new york and face the regulatory environment there. cheryl: let's talk about the regulatory environment. one of the things uber did is cut a deal with new york attorney general eric schneiderman. say it's a flood or hurricane or storm or whatever, they couldn't do se

matt miller joins us for more on his experience as a lyft driver. >> you cannot actually becoming lyftve a two-door vehicle. i made a special exception for me on that day and my only passenger was the cofounder of the company. eric schneiderman, if he had his way, you would not be getting any rides with lyft. atearing is scheduled today 2:30 p.m. in the new york attorney general and the department of financial services and the taxi and limousine commission are all against this. it will be interesting to see if they are allowed to kick it off tonight at 7 p.m. >> what's the biggest issue here? >> eric schneiderman has accused lyft of waltzing into new york which is a verbatim quote. insuranceoper regulations. lyft requires its drivers to buy insurance. they are insured and have a $1 million of primer insurance but the problem they have with it is that lyft requires the drivers to buy their insurance. it. doesnot give them a choice which is an understandable concern and the new york taxi and limousine commission has an issue with the fact that it is so convenient and cost-effective. >> t

that is what lyft offers.hat is not what any of us is likely to take, although, tom keene did the other day. existed, we were taking taxis are the somewhat or god forbid the bus, i was a camry is better. >> i agree. taxis are totally uncomfortable, poorly regulated, awful inefficient system and hopefully, these two companies and their competitors break that system. lyft is a different service. it is for brooklyn and queens, places you should really go. lyft will be the lower-priced class there. manhattan,ays in probably tribeca or upper east side, and she's going to be in the suv. >> i'm getting doggone. >> brooklyn is way hipper than where i live. >> i love the bk. >> as the taxi limousine commission said anything? >> i'm sure the taxi and limousine commission probably has a lot of clout, especially with the de blasio administration. but they are a big political force, and their large group of very wealthy medallion owners that -- the people that drive their taxis barely break even or someone who drives an ub

commissioner josie just shut down lyft.he first time ever, went into court with the attorney general and financial service commissioners and brought a lawsuit to stop them. this is the only city i can think of with the exception of maybe london, where they were stopped from operating without a license. >> thank you so much. we will have you come back for a longer interview. phil mattingly, thank you, as well. 1.3635. ♪ . . >> this is "bloomberg surveillance." >> good morning, everyone. "bloomberg surveillance." confusion reigns as israel except the cease-fire. it are reports of records fired from the gaza strip towards israel. j.crew morgan is -- and jpmorgan is out with earnings, goldman sachs and 7:30, and we will look at johnson and johnson in this hour. the idea of johnson and johnson benefiting the time from obamacare. good morning, everyone. this is "bloomberg surveillance." scarlet fu of course does such a great job on earnings, and right now it is a very big beat. i have yet to see it in futures, likeet, but jpmorga

lyft is facing regulation hurtles where uber did not. how they're breaking down the policy of misfortune next. want to know how hard it can be... ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...

do you think lyft is a true threat?as raised $1.2 billion, and they mentioned they will raise another $200,000. there is a price war on two fronts. for much do they pay their drivers, and how much do they charge to the consumer? and has a lot more scale, they can really compete with lyft in any geography they launch. unless lyft can raise the same amount of capital, it will be interesting as to who wins. >> do you think they can? so many people have uber mva. enfvy. not invest in lyft? t not aiming downscale and uber is upscale? it is a volume question of any margin question. could both companies be very successful? i do not see why not. the question is, is there one company willing the entire ?arket -- controlling the entire market? the big question is can lyft raise the additional capital? on -- not want to bet there are other horses. in the past, with all of the deals, groupon was the one to bet on. >> thank you for being with us. we will be back with more. ♪ >> that will be yet for "market makers." facebookve to had

we believe that lyft is well-positioned to really grab that market.only in the first inning of that playing out. i'm not worried about the regulatory stuff personally. >> geoff lewis, founders fund partner, thank you for joining us today on "bloomberg west." today is the last day for the public to provide initial comments on the fcc proposed net neutrality rules. that's next on "bloomberg west." ♪ >> welcome back to "bloomberg west." the fcc extended the deadline for public comments on the open internet proposal after receiving half a million comments over the last two months. the surge of comments were received expressing public opinion on how the internet should be regulated. cory johnson is back with more. you have been following this one very closely. a lot of people out there have strong opinions about it. when will we see the end? >> who knows. one of the big issues and the biggest debate all of closely is the basic notion of what is an open internet? what is net neutrality? let me give you a basic look at what net neutrality really is. al gore

uber is getting some competition from lyft, another car service app.tell least cars by the big pink mustache on the grill. the company says it's going start service in the city on friday but unlike uber, lyft riders cannot summon rides from manhattan. >> more competition will hopefully be better if the customer, right? jill wagner at the new york stock exchange. thanks a lot, jill. >>> straight ahead, courtroom drama. l.a. clippers owner donald sterling gets combative in his fight to keep the team. gets combative in his fight to keep the team. botox® is an fda-approved treatment that significantly reduces headache days for adults with chronic migraine, 15 or more headache days a month, each lasting 4 hours or more. it's proven to actually prevent headache days. and it's injected by a doctor once every 3 months. the effects of botox® (onabotulinumtoxina) may spread hours to weeks after injection causing serious symptoms. alert your doctor right away, as difficulty swallowing, speaking, breathing, eye problems, or muscle weakness can be a sign of a life-

. >> you have that inverted, lyft is trying to compete with uber. lots of revenue, they have opened up markets. >> i mean they do not own their fleet. >> that is example, that is part of being -- that is great, part of being thin. one is an example of what analyst said would happened back in the spring of 2012. he said one of the consequences was that private investors would read more valuation on these conference because companies were saying let's go public later, not as soon as we can. another illustration of that phenomenon, josh happens to be an early investor in uber. >> before we take it to the other josh and san francisco, ed zimmerman has been so busy signing vc documents, look what happened to his arm. youan i jump in on uber, raise a point about barriers to entry. the lightness of their business model presents some complexities. drivers are effectively mercenaries. >> a lot of drivers are working for uber and lyft and whoever else. question that raises is pricing power. does uber have pricing power over time or is a race to the all theset

now, remember, the state had been asking lyft to cease its operations, not launch today.l, now the state supreme court of new york has weighed in. they've given new york state a temporary restraining order or tro, barring lyft from operating within new york city. in the joint statement by new york attorney general eric schneiderman and superintendent of financial services benjamin law ski, they said that instead of collaborating with the state to help square innovation with statute and protect the public, as other tech companies have done so, lyft decided to move ahead and simply ignore state and local laws. lyft's arguments are a disingenuous attempt to decide old-fashion law-breaking that jeopardizes public safety. they go on to say that "we are pro innovation and pro competition. we are committed to fostering a competitive marketplace where each market participant is treated fairly." so, again, the new development here is that lyft has now been barred from doing business, at least for now, in the state of new york, guys. back over to you. >> i love watching all this. w

lyft is a car service based here in san francisco. the company's president says he plans to work with government officials to change policies to allow ride sharing in new york city. >>> he made history on the moon. today buzz aldrin visited the east bay as part of the 45th anniversary of the apollo 11 lunar walk. buzz aldrin met space fans at the uss hornet museum in alameda. that aircraft helped to recover apollo 11 after iz returned to earth. aldrin says he wants to help humans on the next big mission, which would be landing on mars. >> right now, we're setting a commitment to begin doing that on another planet in the solar system. and that's the ultimate pioneering adventure for humanity. >> how about this picture? he's awfully hip, mr. aldrin. yesterday he posted this selfie from instagram. he says he thinks the mission to mars could actually happen by 2040. >>> coming up next, new hope for a north bay oyster farm. the legal maneuver keeping the bay open for now. >>> plus, the u.s. shuts down its embassy in libya. the violent atta

lyft has had a million dollar policy they offer to drivers.ring a one million-dollar primary insurance policy to all its drivers in all of the 65 locations it serves in the u.s. not they have properly communicated that to eric schneiderman yet is unclear , and seems as though they haven't or he is not yet satisfied with that. they willind of thing have to work out if they want to properly operate in new york city. i will talk to them again as soon as i get offset and see what the holdup is. industry that is attracting an unbelievable amount of attention, not just because people like using these has abut because uber valuation of $18 billion. >> we heard people saying yesterday -- he said he thinks it will be a $50 billion company right now. >> right now he feels like $18 billion is awfully rich. >> you have to keep that discipline as avc -- a v.c. a round ofot financing. >> matt miller with the latest on car sharing, car booking, call it what you like. >> the nation's governors are gathered in nashville for their summer meeting in the top item

people can say i want to ride into manhattan and lyft will take them there?actly. >> they are allowed to leave? >> we started it one area, santa monica and expanded the coverage area and we plan to do the same thing with new york with queens and brooklyn that need it the most and access to the affordable transportation. there's a lot of culture in the outer borough rose and interesting people. and so we'll get them to gather, we think it will be very well. wait to be a shakeup and the london capital. we have a few new entrants. you choose what you pay on a cab in london. that is unique. time for world cup news. didn't notbody notice, germany beat argentina, -- in case somebody did not notice, germany beat argentina, 1-nil. 113thal came in the minute. germany last world cup win was 1990. no irony, it wasn't his argentina. it was the first for the unified company. -- it was against argentina. industry washe down 50%. dataes avoided setting the during the world cup because it was unpredictable if you guessed -- guests would have divided loyalties. world copper r

agree totly did lyft to make this happen you -- to make this happen?> i feel like they sold all of their principles out and decided to become just a regular cap company. i don't see how any of this progress is progress. or positive. they are only allowed to use the taxi and limousine commission cars and only tlc commissions drivers. the whole point is that it is a pier to pier ridesharing service. peer ridesharing service. your, you can to come with me and we split the cost. it is that idea. this is not that idea. i think it is awful. >> so we will not see you or alexis hitting the streets tonight picking up random's? >> not unless i can figure out how the taxi and limousine commission will give me a license. i think roy johnson is legally allowed to do that because he used to be -- cory johnson is legally allowed to do that because he used to be a yellow driver. >> my license has long since expired. new york city has a history of dangerous and bad drivers, which is why the licensing requirement began to begin with. class five license in new york state

now lyft to worry about. the new competition, what it means for its business, coming up next.reet" will be right back. in new york state, we're changing the way we do business, with startup ny. we've created tax free zones throughout the state. and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax free for 10 years. no property tax. no business tax. and no sales tax. which means more growth for your business, and more jobs. it's not just business as usual. see how new york can help your business grow, at startup.ny.gov my motheit's delicious. toffee in the world. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. thank yth

they claim that lyft violates state and local laws. they claim a temporary restraining order ag

lyft says there is a smear campaign to shut down their business.na central television reported location tracking software in the iphone could lead to the leak of state secrets, but apple says it does

and then the mobile for the uber and lyft but don't miss parking. the one thing in san francisco that everybody's sensitive about, then the city attorney moves in. >> that is true and especially the fact that you don't own the parking spot. that's where things are getting hairy with this. your car you own. >> exactly. you come into parking everybody jumps real quick. >> speaking of parking, parking is free in san francisco starting today. also a bottle of soda could soon be more expensive. we have details on these proposals coming up. >> and remember when the days when your daily newspaper was delivered by a kid on a bicycle. it's disappeared just like extra extra exlead all about it. now a local newspaper is trying to bring back that tradition. >> and after our program face the nation with bob schieffer, a look at the dim prospects of immigration reform. face the nation at 8:30 on kpix 5. we'll be right back ,,,,,,,,,,,, measures. one puts a soda tax on the novemb >>> this week the berkeley city council lived up to us progressive reputation by appr

. >>> ride sharing lyft is heading to new york, with a change.ional drivers are behind the wheel. the company was forced in to the move bus of taxi regulation. they had to stop their services in buffalo and r on ochester. the company will work with government officials to change policies to allow ride sharing in new york city. the almeida county fairgrounds in pleasanton looks like spain today. 3,000 people took part in california's first great bull run. 28 bulls were released in groups and thrill seekers got their chance to run with the bulls. they are about 1500 pounds each by the way. of all the runners there was one significant injury. >> they are just running their way through and they are like big cars you have to run and hope for the best. good times. >> there's like a part of my brain that was like, get out, like stop. and the whole time, you where like, yeah, yeah i'm going run and you are like, oh, okay. >> one man shared this video from his go-pro with us. you can see, there was a huge tomato fight after the bull run and a fight leadin

they're getting superior service at app-based companies like uber and lyft.ate them after they drive. while initial cabs put a wall between their drivers and passengers, ride sharing companying are trying to break down barriers. >> you hop in give your driver a fist bump meet somebody in your community and you have a great conversation. >> reporter: it's made ride sharing apps so user-friendly by fighting back with their own apps like taxi map. >> it enables customers to not only have all the conveniences but to know the vehicle is insured, that the driver is background checked and the vehicle is in expected. for now cab drivers hope this charm offensive will put them at the top of the class. >> it's our training that really, i think, puts us over them, over their service. >> reporter: for "cbs this morning," ben tracy, los angeles. >> yep. i say charm and friendliness works every time don't you? >> mm-hmm. >> don't you? >> absolutely. >> i'm hooked. >>> ahead, an american classic finds new ways to fit. >> reporter: i'm john blackstone at the headquarters of

. >>> coming up after your local news on "cbs this morning," the ceo of bride sharing app lyft.'m marlie hall. this is the "cbs morning news." ♪ toaster strudel! best morning ever! [ hans ] warm, flaky, gooey. toaster strudel! [ looki prefer today.eeks?y. clairol age defy color collection. with our best breakthrough gray coverage. lustruous, radiant color that looks 10 years younger. today. age defy color from clairol. it's this new paint. nothing stays on the wall. not any of these things. valspar reserve super stain resistant. and scrubbable. and this color! still perfect! introducing valspar® reserve™ paint + primer with hydrochroma™ technology. >>> here's another look at this morning's top stories. the exchange of fire between israel and hamas enters its fourth day. israel stepped up its air strikes on gaza and hamas fired more missiles at israel. president obama called prime minister benjamin netanyahu and offered to help broker a truce. >>> a severe storm including a possible tornado tore through virginia beach. at least ten people were injured yesterday. homes in a five-b

transportation network companies such as uber, lyft and sidecar allow passengers to use an app to request a pickup in a privately-owned car. the tncs are regulated by the california public utilities commission. the disability community has raised concerns that these new transportation services may not be accessible to people with disabilities. presentation by christiane hayashi, san francisco municipal transportation agency, deputy director for taxis and accessible services kate toran, san francisco municipal transportation agency agency, paratransit manager. there will be a break, the council will take a 10- minute break. item 7, information item, ada transition plan capital projects for fiscal year 2015 and fiscal year 2016. an annual update on requested capital funds to provide design and construction on the remainder of the city's ada transition plan projects. information on other ada transition plan projected that are currently in design and construction, presentation by john paul scott deputy director for physical access, mayor's office on disability. public comment is welcome. item

. >> more legal challenges for taxi alternatives uber and lyft. eight taxi companies want a judge to stop them from operating in virginia. the companies are the subject of a cease and desist order in the commonwealth. both are operating. bar wood taxi is suing uber in montgomery county. d.c. cab drivers protested as well. >> around this time on a friday night the bars in arlington are packed. leaders don't want things to get out of hand during pub crawl ares. they will foot the bill for extra police and security. >> it falls outside of our special events policy. we will deal with a recommendation to put the burden on those who are benefitting. >> last month police arrested charles mac after he allegedly led police on a chase through the streets while he was naked. this occurred in the middle of a pub crawl. >> desperate work under way in washington state tonight to stop the wildfire that destroyed a hundred buildings. the fire exploded in size today because of high winds. it's covering 170,000 acres. firefighters say it is at 0% containment. hundr

pittsburgh has ordered uber and lyft to stop picking up customers immediately because they don't have the proper permits to charge for rides. taxi companies in several cities claim that the two apps are taking their business. anne-marie? >> all right. jill wagner at the new york stock exchange. thanks a lot, jill. >>> straight ahead, your wednesday morning weather, and a controversial gun law goes into effect in georgia. we will show you where licensed gun owners can now carry their firearms. wners can now carry their firearms. them with k9 advantix® ii. it's broad-spectrum protection kills fleas, ticks & mosquitoes too. right now, at petsmart, save up to $15 on select bayer® k9 advantix ii flea & tick products. if it doesn't work fast... you're on to the next thing. clinically proven neutrogena® rapid wrinkle repair. it targets fine lines and wrinkles with the fastest retinol formula available. you'll see younger looking skin in just one week. one week? this one's a keeper. rapid wrinkle repair. and for dark spots rapid tone repair. from neutrogena®. it means trying something new. [

so by law, uber or lyft can only see seven years' of a person's criminal history. but because we're a government agency, we can see the entire adult criminal history through a fingerprint-based backup check and that is one of the values that i think is missing from the cpuc decision is government oversight, just basic government oversight and that is true in any regulatory context. i can't imagine a regulatory situation, where you just kind of wave at the regulated and say everything is fine; right? and that is pretty much the situation that i see the cpuc's decision creating. >> so this is not saying anything against you, but i had mentioned it in past meetings and my daughter took a cab home in the outer sunset, in the evening, and it was really late. and the driver would not let her out of car -- it was a cab driver, and i'm sure she made that complaint, because she was holding her cell phone and she said if you don't let me out of this car right now, i'm going to get you for kidnapping me. >> so again, that is a terrible story and i encourage anybody who hears

to discuss expanding insurance requirements for companies like uber and lyft. drivers are required to carry $1 million in commercial insurance. >>> on the salt of things automotive. a mobile app that allows people to auction off prime parking spaces has until friday to stop operating in san francisco. the city attorney sent a cease and desist order to italy based monkey parking last month. it's an app that lets people sell their space to another driver but the city says that's not fair. it's threatening a lawsuit if monkey parking doesn't stop operating here. >>> three people were killed when a small plane crashed in riverside county. it happened around 9:20 yesterday morning near the lake and the santa ana mountains. it reportedly clipped a tree breaking off a wing and fell into a ravine. when crews reached the wreckage they found three bodies inside. the crash triggered a small brush fire that was put out quickly. officials are trying to determine the plane's origin. >>> time right now ten minutes before 5:00. and coming up, a major san francisco freeway open

what antioch does is he keeps a spare sign in the back of his car so if he is driving for a lyft or drivinground for himself and he sees someone who needs it he has one ready. >> wait for the right person and if i feel like they are standing out there with a sign that could be improved i roll the window down and say, hey, you guys want a new sign? >> reporter: the social experiment started a few months months ago. he was driving down van ness and saw a panhandler with a sign that said poor, hungry. >> i had no inclination to give him some money. i wondered if something funny was on the sign, i probably would have. >> reporter: it's working for some. one man said it attracts tourists some asking to take pictures with him. how do you think this helps them find a job? >> i'm not in a position to help someone find a job. i'm just a regular guy. i think we all kind of do what we are capable of? >> reporter: he says his friends wanted to help, too, by either making signs or inspiring catchy phrases. >> we don't always have to change the world. you can do something really small to make a small dif

speaks of aren't other taxi companies but on demand transportation network companies like uber and lyft which allow drivers to take passengers in their personal cars and are not regulated >>they don't have real commercial insurance on those vehicles, they don't have workers comp, are those vehicles inspected? i see pickup trucks now with pink moustaches >> reporter:and kim says the biggest imbalance is that taxi's are required to have a medallion, which costs him 22-hundred dollars per month, for each of his 200 cabs. >> this is not something i want to do but if we are talking ecnomoics, 5 million dollars is a big difference in the cost of operations. >> reporter:kim says his preference is to keep deosoto as a taxi company, but that will require regulators to level the playing field. >> hopefully the state and city will wake up and discover they must apply the same set of rules and standards to these new services. >> reporter:140: desoto cab hasn't made any decision yet. they say they real question is how soon will regulators level the playing field and can the cab company wait that lon

we got a message from lyft c o-founder john zimmer.ancisco to the cobblestone streets of brooklyn. they made an exception to allow me to drive in style. >> why did you pick brooklyn and queens rather than manhattan? >> the need for transportation is greater. boroughs, anduter [inaudible] people need affordable transportation. >> the company just received $250 million in funding and is burning through some of that cash offer in the first two weeks of rides for three. -- for free. building an of international highway, an , it istional railroad just a massive opportunity. >> they say it is more of a social experience and suggests you ride in front and give the driver a fist bump. all these things are suggestions, just ways to break the ice. at first, i didn't get it, but then i started meeting people and it is a smile from the start, breaking the eyes. ,nd if you want to be quiet you're welcome to sit in the back. >> it aims to disrupt modern taxi pricing. how much you pay is what you thought of the ride. cheaper than a taxi? yes. cheaper

lyft andalking about sound cloud. >> you have litigation with lyft . let's get back to the banks.kend and figured out. wells fargo will report in minutes. charles peabody is beneath the headline data. he calls for a most difficult. in the banks. wells fargo is different. he just runs a different shop read >> he knows how to generate revenues. >> one of the best practices at wells fargo? least eight at product relationships with each customer. >> may i suggest it is what they have not done? have they been brilliant by avoiding things other banks of done? >> they have avoided a lot of the risks. they have also been in certain sectors of the been in secular decline. bring up the chart on the wells fargo. i think this is extraordinary. it is so much different than the other banks. it completely looks different. >> it trades at a significant premium. it is probably about 2.7 times higher than a lot of the bank. >> it is not cheap. we are getting long in the tooth of this market and we want to stick with quality. >> it is quality. you will stick with it? >> we will until we get a better

lyft heads to court today. -- phil mattingly. general ericrney schneiderman is pulling all the stops to keep the cars off the road. matt miller joins me now with the exclusive details. they hads right, planned on launching friday at 7:00, but the problem started last week when the department of financial services and attorney general contact the company tuesday saying it was not happy with the way they were providing its drivers insurance. number one, making the insurance above and beyond what drivers are using personally, excess liability coverage. number two, they accused them of selling the driver's insurance and from only one vendor, so not offering choice. the company says it is now going to give all of its drivers insurance as a primary insurance thomas and not above and beyond what they use personally but to begin with. also, that it does not charge them were sell them anything. you are automatically driving on the insurance policy. they get these details thursday but friday morning eric schneiderman still filed under orde