that is the wonderful spirit in which macy's has made a commitment to the city. i want to thank them for that. i have been going around, understanding where the heart is in the city. it begins with people making a commitment. even in the hardest times, they will be hired locally to make our city were better. the announcement comes in with all kinds of other technology companies making a bid for these office spaces. it is becoming even more precious, but it is exciting. i think we are doing all the right things and registering our commitment. every week i have a chance to unveil for myself, companies where even the names were hard to spell out. i did not know what they meant. now they are leasing office spaces in the hundreds of thousands. salesforce begin with a big announcement, 400,000 square feet, and then there was linked in, and then riverbed came in in the same building. i think folsom street is lucking out. there are other companies in the area and they feel the spirit of being south of market, the spirit of innovation. i want to thank kent anderson, who h

thanks very much, david. >> straight ahead, the macy's parade, actually investors marching to buy macy's stock, shares sitting at 52-week highs. will consumer spending be strong enough to keep driving the stock higher? we have an exclusive with macy's ceo next. you know, those farmers, those foragers, those fishermen.... for me, it's really about building this extraordinary community. american express is passionate about the same thing. they're one of those partners that i would really rely on whether it's finding new customers, or, a new location for my next restaurant. when we all come together, my restaurants, my partners, and the community amazing things happen. to me, that's the membership effect. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people loo

i wanted to start off with macy's that you initiated.t say contrarian call and there is so much love for macy's. probably the best 1 and why they regard to capture market share from jcpenney which is going through a turn around of course. you did seem bullish on macy's and saw upsides to the same numbers. what makes you cautious here? >> the title was most improve and well-embraced story. macy's came out of the recession and they have done a good job and executing a good playbook. everybody knows it. most of the banks have the stock and most investors get it and this is the momentum play. we are looking for the next leg up to get more bullish on the stock. >> let me ask you something. in the competitive landscape. how do you view the jcpenney turn around story and i think you said it was neutral? >> they brought in the visionary from apple to do drastic things and you don't know what brands will be sold in the stores and you don't know what they will look like until back to school time. it's hard to say this is a really winning long-term

store companies, but look at what macy's is doing on their on. omni channel, private brand merchandise is working for them, and then when i look at gap, they have been trying to improve the product reception. gap's a turnaround story. >> what's the best story, do you think, going forward? you've got tjx and ross are at new highs. the dollar stores continue to perform pretty well. how do you see that and tell us about the higher end which we pay a lot of attention to on "halftime" as well. >> when i think about just the dollar stores and what they are doing, dollar stores, it appeals to customers of all income levels so even with the higher gas prices that are out there, they will get the low and get some of the high end. we like dollar tree in that space. when i think of the department stores, it is about macy's, but also about the high end. when lvmh said business accelerated from the fourth quarter to the first, well, that benefits sax and also benefits nordstroms and on the specialty side, limited will open their stores overseas in london and

penney, you think maybe this is actually sustainable for macy's. >> well, macy's has sustained this for actually a few years already, so i regret having sold it but they have done a tremendous job. if that is so, the mid-teens decline, that's really enormous in the operating, the negative operating leverage of that kind of decline is difficult to turn around. >> does that make you even more bullish with the names that might be benefitting from the share loss, to hear such a staggering loss at jc penny. >> it's amazing because people have really thought a lot about ron johnson and his ability to turn this company around. you really have to have some faith in there. i do think that macy's is probably the better one in this industry because it is focused just on the u.s. you don't have to worry about all the other international problems that we talk about every day. >> coming up next, jpmorgan's jamie dimon made a whopping $23 million in 2011, but there are other new yorkers who raked in even bigger bucks last year. find out who is worth more than the wealthiest on wall street right after

we're also long macy's because we see a lot of value in macy's. major difference here, macy put a plan in place and they are executing on the plan. the plan is at work currently in the stores. jcpenney has a lot of plans. we don't know if they'll execute on those plans there. >> they have had more time to run the show than mr. johnson has had over at jcpenney. >> that's why you would think valuations would be more in line but when you have jcpenney trading up over 20 times and macy's down in 10 to 12 times, they are long space and short space at the same time. >> midday market movers that may not yet be on your radar. amazon is dropping. almost 2%. >> you know, a downgrade today. over the long run amazon is something you want to be in. we have talked about that. in short run people bet against so it's a bad move. >> express scripts popping 3%. >> we know the news about the deal able to debt done. sell the news type of event pulling back here from the highs. i would own express scripts but i wouldn't own it here. i like it down around 52. >> abercr

unstable." >> macy, you should totally go get our manager and tell her that i'm really in the sink. >but he insists that no one else is in on the stunt before the camera starts rolling. >> hey, karen, he's in the sink. is that okay? do you want to come see? it's pretty funny. you can't see his penis or nothing. >> i hope not. >> everybody thought it was funny except for the manager who was still counting money. the whole time she thought we were kidding. she never imagined that i was really in the sink. i would say stuff every night, i'm going to do this. and mike's like, don't do it. like i said, the sink thing, i had mentioned that three months ago. like i'm going to take a bath in that sink. but everybody always brushed it off because i would say crazy stuff all the time. >> the water in the sink automatically gets boiling hot to sanitize utensils, so tim's dip lasts only four minutes. >> so i used a little towel to cover myself up. i didn't think about this part. i didn't bring anything to dry off. >> the video is posted on myspace that same morning, but tim has no idea just how m

it is a string of wins for macy's. look at the stock and it's climbed this year as well as last year. >> and pvh. >> and do you stick with a name like macy's or switch to a tu turnaround name like gap? >> they have done a remarkable job with this campaign, basically undoing the conglomerate of macy's and when they put all these divisions together and manny turico, tommy hilfiger here the other day for autism speaks, fabulous cause. i do believe pvh is saying it's going better each month. so, i mean, you have this bill. now, again, we come back to weather and that is the wild card. >> it is. >> i think macy's is strong, buying back stock. balance sheet so good. david, come on. three years ago people were putting a major short bet on macy's because of the balance sheet. >> right. and like so many other companies it has benefited interest the rock bottom rates and been able to put itself in a much better position. in fact, that's the broad story in corporate america. comparing balance sheets as a result of what mr. bernan

that is in effect until tuesday morning. 8:00 the areas shaded in pink macy allport's of four to 8 inchesis -- may see upwards of 4 to 8 inches of snow. look at the heavier amounts. they may be looking at more than a foot of snow. heavy, wet snow for the day tomorrow. 50 degrees for a daytime high. and then the temperatures will slowly rebound. 60's by mid-week. 38 to 45 degrees tonight. waking up tomorrow morning, it is going to be windy, 45 to 50 degrees. extended outlook. back into the 60's on wednesday. thursday lower 60's for the upcoming weekend. in a good deal of sunshine if you were unable to mow your lawn. you will have plenty of time later in the the week. >> all right. it seems like the worst is over with. >> before the rain. >> thank you. next a setback for the task -- chesapeake bay is recovery. >> some not so good grades tonight for the condition of the chesapeake bay. >> it is the worst rate since 2003. mother nature is to blame for the bad report card. >> like a lot of people who grew up around the chesapeake, she can tell you that it has changed, and not for the better. >

. >> first, traffic and >> good morning imat macy's at metro center -- i am at macy's. >> good morningshington. >> 5:38 right now. let's check in with adam caskey and find out how the weather will be for the weekend. >> looking great, a warming trend. if we can get all kinds of weather and it is still in washington. it will be pleasant for the weekend. a warming trend in store. foster advisory still in effect for the counties shaded in blue until 9:00 a.m.. freeze warning in western maryland and west virginia. -- frost advisory in the blue. at the freezing mark in frederick. highs in the mid to upper 60's today. seasonable temperatures, 67 degrees. tomorrow, in the '70s. sunday and monday, temperatures skyrocket into the 80's. if we could be talking mid '80s in places on sunday and monday. now to lisa. >> we feel comfortable on the highway because we don't have any major problems to report around the region. travel times working for us not only on the beltway to and from the american legion bridge, but 270 between father hurley and the beltway. looks good if in baltimore on 95 and 295,

>> i don't think i know what -- >> opening day of a new macy's. >> oh, a new macy's? >> i know, it is exciting. i am told half off converse and all handbags. what do you think about that? >> that is excellent. >> i think it is more than excellent. it is exuberant. >> i like you. >> i like you more. >> who is the all-time homerun leader? >> hank aaron. the true homerun leader. >> somebody does not like the steroids era. >> it is patches owe hoolihan from the bourbon league. >> who has the most homeruns ? who is the homerun king? >> homerun king? i don't know. >> what team does derrick jeter play for? >> you are talking to the wrong people. >> it is a trick question. he is a wnba player. he plays center for the new york flannels. >> he plays for the mariners, ichiro. >> not the yankees. >> you know who else is a mariner, kevin kostner in "water world." what have we learn ?ed thursday's opening day, nobody seems to care. but either way i predict this season is going to be a grand slam. >> i love that the gentleman with the glasses, he asked to come on "red eye." is he st

when he canceled the tunnel, he did make noises about this tunnel into the basement of macy's, tunnelng nowhere. but he also said at the time, i see the merits of this tunnel, i see that commuters need this, but we just can't afford it at this time. and this defined his role as this fiscal conservative, a hero in the republican party. >> "new york times" reporter, kate zernike, thank you very much for your reporting on this and helping us to flush it out. >> thanks, rachel. >>> coming up, best new thing in the world. bear teaches human lessons. yes. stay with us. [ male announcer ] if you have yet to master the quiet sneeze... [ sneezes ] [ male announcer ] you may be an allergy muddler. try zyrtec® for powerful allergy relief. and zyrtec® is different than claritin® because it starts working faster on the first day you take it. zyrtec®. love the air. [ sneezes ] the sleep number bed. the magic of this bed is that you're sleeping on something that conforms to your individual shape. wow! that feels really good. you can adjust it to whatever your needs are. so whatever you feel like, th

dillard's, macy's, or saks? the payoff, dillard's, which is up over 40% to date. >>> welcome to the "closing bell." i'm courtney reagan. at the nasdaq, we are under significant pressure. we are off the lows of the day. take a look at shares of the biotech issuing a very serious recall. a class one recall of the heart pump device because it may cut off blood flow which can cause very serious heart problems. it's still down but it has recovered. bill, back to you. >> bill, today yahoo! announced its fifth mass layoff. will it be enough to help turn the country around? of course, these are tough moves to swallow. jon fortt is outside of his headquarters in sunnyvale, california. jon, how much would you say these cuts are going to help yahoo!'s bottom line? >> reporter: well, interesting question, mere yeah. i did some digging for some numbers. look at yahoo! over six years before and after the cuts. take a look at the layoff record. back at the end of 2007, yahoo! had 14,300 employees, similar today. they did nearl

macy's, and the parent company of victoria's secret say sales were up last month.credit warm weather and demand for new spring fashions. costco missed analyst expectations. consumer spending accounts for 70% of all economic activity. >>> a group of small regional cell phone companies plans to start selling the i-phone. companiess say they will charge $150 for a basic 4s model, $49 less than@, sprint and verdicts. they will all require two-year contracts. >>> time now 6:22. warnings this morning about a fake cop robbing bay area residents. how he's doing it and stealing their cash. >> another kony video set to be released on-line today. the focus of the new video. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >>> good morning. right now traffic is moving along ok but we're seeing some slowing on 237 as you cross 880 in

their new campus and is handling the current headquarters office expansion for online retail giant macys a true expert and knows everything about every building. please welcome dan crestmond. [applause] >> i just have to say the "san francisco business times" is by far the best source of news anywhere in the area.

it could actually bring some thunderstorms in the mountains this afternoon, towards this evening, macy thunderstorms in the baltimore metro area. -- we may see thunderstorms in the baltimore mature area. this yellow, western pennsylvania and west virginia, mainly through the afternoon and evening hours. the green color is stretching the western maryland. that is including a threat of general thunderstorms. i would stretch at all the way down to baltimore. i think there is a threat of baltimore -- thunderstorms through baltimore. as far as severe weather, that will be many to our west. not too much showing up. at least the potential after 7:00 p.m. the we could see a brief isolated thunderstorm. most areas will stay dry tonight. it will be a very warm evening. we will be dropping into the low 60's and 50's with partly cloudy skies. a big drop in the temperatures behind the front. 74 tomorrow, only in the 60s on wednesday. a slight chance for rain on wednesday and a better chance into the weekend. >> thank you. today is green is universal this week, bringing attention to the importance o

. >>> in picked up next week some macy's some showers but would not worry. no need to break out the rain gear yet. let's talk about what to expect. today beautiful. temperatures topping out near 80 in the warmest spots. here are current temperatures. concord at 83, oakland at 73, san francisco at 62. was a a marine layer setting off shore for most of the day. temperatures a tad bit cooler into the work week. lee's blood drop temperatures a few degrees mostly sunny and seasonal for much of the week. mid-week possibility of showers north of the golden gate and likely brief. for overnight, you can see the a marine layer deepening of shore. it will move in when tomorrow morning, a bit farther than today. we will stay mostly sunny and seasonable temperatures topping out in mid-seventies. high pressure holding steady. but mid-week, it weakens and we see this weather system a cold front passes through which could see the tail and cree by the north bay maybe a few showers as far south as the bay area. most will see increasing clouds. the increase in low clouds for t

when he canceled the tunnel, he did make noises about this tunnel into the basement of macy's, tunneloing nowhere. but he also said at the time, i see the merits of this tunnel, i see that commuters need this, but we just can't afford it at this time. and this defined his role as this fiscal conservative, a hero in the republican party. >> "new york times" reporter, kate zernike, thank you very much for your reporting on this and helping us to flush it out. >> thanks, rachel. >>> coming up, best new thing in the world. bear teaches human lessons. yes. stay with us. they have names like idle time books and smash records and on small business saturday they remind a nation of the benefits of shopping small. on just one day, 100 million of us joined a movement... and main street found its might again. and main street found its fight again. and we, the locals, found delight again. that's the power of all of us. that's the power of all of us. that's the membership effect of american express. free-credit-score-dot-com'sur boargonna direct you ♪ts ♪ ♪ to check your credit score before it gets

everybody likes to ask about cliniq u e if you go into a macies, you'll see the lab white coats and scientifically presented. it is the same set of chemicals packaged with a different marketing program. disturbing some of the women of color are among the most toxic. women are bombarded with light skinned looking models. every product claims to have a whitening benefit. here is an example of one of the ads that you'll see in china, procter and gamble, high end line sk 2, hugely poplar, this product was the cause of near riots in china in 2006 after the government reported it contained, band heavy metal. hundreds of women demanding refunds lined up down the block. here is an example of them busting down the headquarters in shanghai. women do not want toxic bad metals. in their $100 skin cream. unfortunately, the government and procter and gamble was freaked out about this. then it was announceable, just a little bit of toxic metals, don't worry. they put the products back on the shelf and back on the market. china is the no. 1 growth market for procter and gamble. have quotes where she says china is

when he canceled the tunnel, he did make noises about this tunnel into the basement of macy's, tunnele the merits of this tunnel, i see that commuters need this, but we just can't afford it at this time. and this defined his role as this fiscal conservative, a hero in the republican party. >> "new york times" reporter, kate zernike, thank you very much for your reporting on this and helping us to flush it out. >> thanks, rachel. >>> coming up, best new thing in the world. bear teaches human lessons. yes. stay with us. i used to only wear sun protection on a beach day. now, i wear it every day. because damaging uv rays are everywhere with olay daily complete uv, its possible to block 92% of harmful rays for naturally beautiful skin in any light. olay daily uv. a simple way to make dinner fresh and new again. just stir it in. now it only takes a moment to make the moment. ♪ spread a little joy and see ♪ need a little happiness to be ♪ ♪ living the life it's delicious. 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 for

the macy's store had to be evacuated because of a fire. it started in the store's basement.is a speculation that a cigarette butt may have worked it down there. it has not been confirmed. luckily, no one was hurt. >>> all right. this morning consumer alert. student loan debt in this country is larger than credit card and autoloan debt. the trillion dollar loan debt could be the new bubble to lead to another economic crisis. economists are saying that the reason that the student loan devil is growing is that young people are unable to find work instead of returning to school. >>> you clip coupons and buy storm brands and use a storm loyalty card, but you might be wishing out on other ways to save money. there are areas that shoppers might over spend. it starts with sales. rarely do you have to buy a certain amount. that is something that marketers put on your head and look at the whole shelf from the top to the bottom, vendors pay retailers to get shelf space at eye level. >> consumers assume that items on end cap displays are on in fact sale. that is true, most of the time t

that was something like macy's, which the original proposal was greater than the uses currently there one of the things i think would be good for staff to do is to read the files, when zoning like this is created, and not his command and say, this is a reasonable course. what was the intention? i am a trader joe's person. i have no bias against shopping there. i shop there all the time. i know what the city planning commission was looking at this site as and saying that we will not do in san francisco these types of malls and it was a very troublesome process getting it through. now, it will go through without checking what we were trying to do. i think it is sometimes valuable to go back and these files were available. and it was a fairly long several month process just to allow the mall to happen like this. thank you. >> thank you. any further public comment? seeing none, public comment is closed. >> is any a time when we would think about this differently? i love going there. it is very convenient. i stock up on the 20% coupons. they never expire. you can use as many as you like. w

when asked whether rummies supports obama's ledbetter added macy's year for women to file equal pay lawsuit its eight top campaign aide fell silent for six seconds then replied it will get back to on that. did we didn't take long for the president's reelection team to point out romney's greatest hits against women in the latest campaign ads the deadliest in court to overturn roe vs. wade? >>> planned parenthood to get rid of that. away from me spent much of the last year quoted republican base by supporting opposition to support abortion rights and by backing law allows employers to deny health insurance for contraceptives now he has submitted his campaign message to the general election and that the important women's votes. the elisabeth the 12th time was not the charge for charles manson and his request for parole did not denied by family members of his victims say this is finally the end. >>> your cellphone as good a customer to upgrade the fee being added to the to $300 from and to most of us can only imagine built by kids where robots got a party. delays and this is this cell this char

. >> caller: limited brands, macy's, and nordstrom's. >> all right. going to go for macy's there, because it represents the mass move and they're still doing so many things right, but that's a tough call, because limited's doing a lot right, and nordstrom's, only because it's run so much, i do not say that one would be first. okay, bad publicity is still bad publicity. there are too many uncertainties surrounding walmart right here. i want you to sell the stock into any strength. we can revisit it lower if we feel more comfortable about what happened, but with all these great other retailers, why are we even messing around? stay with cramer. >>> coming up, ride the lightning. take a nonstop thrill ride as cramer goes stock after stock. all your calls taken rapid fire on the "lightning round." >>> and later, ip oh-no? with facebook fever spreading like wildfire, investors have been buying up ipos at a premium, but are they worth it? tonight, cramer takes on the red-hot market to separate who's hot and who's not. all coming up on "mad money"! >>> before

. >>> macy's under the microscope.k at johnson america and his plan to keep macy's on the move. big banks reporting earnings tomorrow. you've been talking about that all this past hour. we'll debate how to play the sector today and the ebook smackdown. find out what it will mean for amazon that's today on "power lunch." let's get back to scott. >> we'll see you in a few. the vice fund which invests in stocks from alcohol to tobacco to guns is up 12% this year. the devil is in the details. brian shactman joins us to break them all down. brian? >> despite all of the stats, all of the constant media attention and political battles, according to the latest, the u.s. remains the third largest cigarette consumer in the world. u.s. is 350 million cigarettes. over 2 million for china. strong stock appreciation to go along with yields. no lower than 4.5%. this year with the exception of lorillard things have slowed down. not as much money has piled into tobacco. i talked to an analyst who said he has a hold on altria. he doesn'

if you are downtown in an office building or shopping at macy's, do you run in the middle of the street? no. you stay where you are. how much time do you have? seconds. you have to make a decision within seconds. if you run to the street what will happen? >> get hit by a car. you have windows, glass to fall on you. high rise. if you know where you are, stay there than to go somewhere you don't know what's there. once it's shaking between 30 seconds to a minute and once it's over, things will fall and tip over. give it time to move around. of course, if there is danger coming to you, you want to move. so, picture these buildings. against the wall. will i go behind this wall? lean against it, cover my head? no. the pictures frames. if they come off and hit me on the top of the head, more injuries. be aware of that target. look behind you before you lean against the wall. sometimes wrong place at the wrong time there is no way to get down this way. try to find a [inaudible] place if you can. get next to something that's sturdy that will block up against you. how much time do you have? shor

. >>> a fire forced the evacuation of macy's million square foot flagship store here in new york yesterdayt 1,000 shoppers, employees waited on the street while firefighters put out the blaze. two people were treated at the scene for smoke inhalation. the cause has not been determined. >>> a huge clean-up effort is under way in north texas in the aftermath of tuesday's assault by up to 13 tornadoes. the twisters ripped across several communities in the dallas/ft. worth area. hardest hit was the town of forney east of dallas where residents pitched in yesterday to help one another. at least one homeowner remains optimistic about the future. >> we have insurance and everything's taken care of, so we will rebuild. >> you have quite an attitude, sir. >> thank you. i have faith. faith gives you that attitude. >> the best news about those texas tornadoes, for all the violence and destruction, no one was killed. >>> on the "cbs moneywatch" the jobs act gets signed into law today and google focuses on high-tech glasses. ashley morrison is here in new york with that and more. good morning. >> good

. >> at target and macy's, sales were up more than 7%. nordstrom and gap, 8%. this week, gm, ford, and toyota each credited warm weather in part for strong sales. consumer spending jumps in february by the most in seven months. >> there's no question there's been two effects. the economy has gotten stronger at the same time unseasonably warm winter weather gave us a leg up on the strength on the economy. the question is, how much can be sustained going forward? >> economists worry about a summer slow down when higher gas and food prices will take a bite out of paychecks that aren't growing. even as home sales are picking up across most of the country, experts are bracing for a wave of foreclosures. but businesses are hiring. employers have added an average of 245,000 jobs a month since december. quinn dowtin was hired last month after looking for a full-time job for the last three years. >> having to temp was horrible because i didn't feel stable. >> one third of employers have added full-time employees this year, the highest since the recession began. this man

i think there's very little to worry about right now macis slightly below, but it's all about the iphone, and that continues to hum along really well. >> tom: what about the fatigue concern, if the next iphone isn't until the fall, and the ipad was just released not long ago. is there going to be a new product that's a catalyst in the next three to six months? >> i think the stock is all about the iphone. what we saw last year and the year before, ahead of new iphone launch sales they tend to stip. i lot of us are betting on a launch of the iphone 5 or whatever they call t. maybe september is soft. we expect that. i wouldn't want to be out of the stock ahead of the iphone 5 for sure. >> tom: take a look at a one year parted of aapl. we've seen a lot of volatility off the all-time high hit a few weeks ago. rebounding nicely in after hours. would you buy it around 600? >> i've been continuing to buy. the numbers look to be going higher. stock still trades at a reasonable pe valuation. you have a big product cycle coming up, and i'm a buyer of the stock at these levels. >> you can't find mu