for "nightly business report," i'm mary thompson in new york. >>> to pensions now. public and private pensions have not gone away of course but with people living longer both experience funding short falls. joshua balm is here to talk about the issue and how it might impact you. former director of the pension benefit guarantee corporation and now a guest scholar of economic studies at the brookings institute. welcome, nice to have you here joshua. >> nice to be here. >> it's kind of a good news/bad news story as we said. we're all living longer but we might outlive the funds. if we do indeed are lucky enough to have a pension. >> r that's right. but i think the most important thing to remember is we are livering li longer. the challenge is our retirement programs haven't kept up. so companies sponsored pensions didn't set up aside to take this into account. for those of us who have 401(k)s or iras or bank accounts that responsibility is ours. and most of us have not set aside that. that's the bad news. the good news is that this is not a problem which you have to so

for "nightly business report," i'm mary thompson. >> fascinating, isn't it? >> interesting stuff. you've got to have insurance everything. >> of course you do. >> you do. >> all right, that does it for "nig for tonight, with no insurance, i'm sue herera. >> i'm tyler mathisen. have a great evening, everybody. see you back her >>> i think you should go for it for a moment. >> robert kelley is deep into rehearsals for "proof," opening in just days at theatreworks in palo alto. >> i'm sorry, katherine. but, it's a question of priorities and work takes priority. you know that. >> he founded this company in 1970 and has seen it through boom times and bust, directing more than 100 productions. >> i think we got this down pretty well. the timing seems about right. i just want to take another look at it. >> tonight on "spark!" -- we follow in the footsteps of leaders in the local art scene, extraordinary individuals, like robert kelley who have transformed their communities through the arts. we'll try to keep up with oakland east bay symphony conductor michael morgan as he shuttles betwee

mary thompson reports from daytona beach with the latest installment of our series where the jobs are. >> reporter: for 20-year-old marko schoener it's not just a hobby, it's part of his education. >> i've flown robotics since i was 9 years old. all my life i decided to do this. >> reporter: at aeronautical university in daytona beach florida, one of a small number of growing colleges in unmanned aerial systems or drones. >> we started three years ago with 11 students and that grew has grown to about 230 students. >> reporter: professor alex maratz said the school launched the program anticipating growing for engineers to build and operators to run drones. why? by september, the faa will propose rules allowing drones to be used commercially. in fields like agriculture, movie-making security and maybe even delivery services. >> some people think that the commercial market for aircraft systems could be much bigger than the military market. steve getlan is of aeroenvironment, sold mostly to the military bracing for a pickup in demand and hiring 100 workers this fiscal year to meet it. on

for "nightly business report," i'm mary thompson. >> fascinating, isn't it? >> interesting stuff. you've got to have insurance everything. >> of course you do. >> you do. >> all right, that does it for "nig for tonight, with no insurance, i'm sue herera. >> i'm tyler mathisen. have a great evening, everybody. see you back her tonight on "revolutionaries"... prabhakar: here's an agency created after sputnik, specifically created to prevent that kind of technological surprise. you know, we exist not to do those incremental things that are very necessary. we exist specifically to do the technologies that allow for big steps forward in capability. darpa is the pentagon's high-tech laboratory. today darpa is led by dr. arati prabhakar, a caltech ph.d. with decades of silicon valley experience. tonight she explores darpa's past and future, and her own personal journey with john markoff of the new york times.

mary thompson joins you more from daytona beach. mary. >> hey there, tyler.pus of an aeronautical university. this is a drone that's likely to be used by industries other than defense. to insure that there are enough engineers to make these drones and operators to run them every riddle and some other colleges offer bachelors degrees in ub manned air yam systems, or drones. here's professor alex mirot. >> we started three years ago with about 11 students, and that grew -- has grown to about 230 students. >> one of those students is 20-year-old jessica brown. the cleveland native fell in love with aviation as a child, watching the blue angels at air shows. at first she planned to become a pilot. then switched to studying drones. >> right now i'm in a class that we're literally flying missions. we just are supposed to have our aircraft takeoff and climb up to altitude and go out to compound and just look for whatever our professor tells us to look for. >> students like brown spend time in simulators and in the field learning to operate unmanned systems. they als

mary thompson, back at headquarters, thanks so much.back, amazon pilot season is over so which of the 13 potential new shows actually made the cut? the answer in a moment. but first, rick santelli, what are you watching today? >> well, i think we're going to be watching 10-year, 30-yaer, 5-year note yields as they toy with settlement yields of last year. what does it mean? how did we get up here? and why were we so low on january 30th? because all those reasons are important. if the fed actually embarks on tightening in 2015. we're going to talk about that after the break. in my world, wall isn't a street. return on investment isn't the only return i'm looking forward to. for some, every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as fifty dollars. dentist appointment when my teeth are ready? ♪ c

for "nightly business report," i'm mary thompson. >>> finally tonight, kids are benefiting from the economic according to a new survey from delta dental losing baby teeth has gotten more lucrative. the tooth fairy paid about $150 million for lost teeth last year that's a record high. the average gift was over 4 bucks a pop, up 25% from 2013. >> wow. >> i got a quarter. >> me, too. that's exactly what i got back in the day. >> good to be a kid today. >> 4 bucks. >>> that does it for "nightly business report." i'm sue herera thanks for joining us. >> i still have all my teeth, by the way. have a good evening. >> so do i. >> welcome to "film school shorts," a showcase of the most exciting new talent from across the country. experience the future of film, next on "film school shorts." >> "film school shorts" is made possible by a grant from maurice kanbar, celebrating the vitality and power of the moving image. and by the members of kqed. >> [ man coughs ] >> woman: 10 more different tables, then uncle tim's table's like a mile away from the bar. but then they're both so far away from the bridal

for "nightly business report," i'm mary thompson. >>> finally tonight, kids are benefiting from the economic according to a new survey from delta dental losing baby teeth has gotten more lucrative. the tooth fairy paid about $150 million for lost teeth last year that's a record high. the average gift was over 4 bucks a pop, up 25% from 2013. >> wow. >> i got a quarter. >> me, too. that's exactly what i got back in the day. >> good to be a kid today. >> 4 bucks. >>> that does it for "nightly business report." i'm sue herera thanks for joining us. >> i still have all my teeth, by the way. have a good evening. >> so do i. i really should be going soon. juliet will start to worry. and how long has she got to go? - two weeks. - oh! my mother said that first babies are always late. - we'll see. - mm. how's things going with your new step-daddy? not funny, dwayne. they're just friends. yeah, right. - dwayne, no. - one more. we're in trouble. (honks horn) you're late. and good morning to you, too. - well, that's not fair. - excuse me. i know i agreed to do more small talk, particularly i

mary thompson joins us from daytona beach. mary? on the campus of embree riddle aeronautical university. they started a four year bachelor degree in unmanned airlinal systems or drones. drones are big business selling to the military and now the faa is looking at other industries and how drones could be used in those industries forestry agricultural, security. both colleges and companies are now betting that the drone industry is about to take you a. >> some people think that the commercial market for unmanned aircraft systems could be much bigger than the military market. >> steve gitlin is a vice president who sells small drones to gofltvernments around the world. sales to the u.s. military alone, $5 billion in 2013. now a report estimates once the faa approves commercial drone use the industry's economic impact will be over $13 billion in the first three years climbing to more than $82 billion by 2025. >> i think the next big successful area will be public sector in regards to local municipalities adopting this for fire, search a

mary thompson is here to get us hopefully ahead of the game. >> that's right.re three key things. activism. proxy access and board refreshment. anyone following business news of course, knows that activists not only want to replace board members, but as proxy advisors patrick told cnbc some want firms to merge or purge. that is, look for a buyer, sell assets, or split the companies up. among the battle that is are being watched is proxy season try-ones to get dupont to split up. harry wilson's efforts to get him a board seat and buy back shares and the marcato's request to sotheby's that it buy back its stock. the most popular proposal will be allowing certain shareholders, rather than just a company, to nominate directors. a number of public pension funds including new york city submitting these proposals. comptroller scott stringer finding them at 75 firms asking that a group of shareholders owning 3% of the company's stob that they've held for three years, be allowed to nominate up to a quarter of the directors to the board. stringer said the desire for prox

." >>> i'm mary thompson. the dow climbing 305 points the s&p 500 adding 29 the nasdaq up 51.les jumping more than 8%. disney posted results that beat estimates. shares are down sharply in late trading for chipotle. use hydraulic fracturing technology is safely recovering lots more oil and natural gas. supporting millions of new jobs. billions in tax revenue... and a new century of american energy security. the new energy superpower? it's red, white and blue. log on to learn more. we come by almost every day to deliver your mail so if you have any packages you want to return you should just give them to us i mean, we're going to be there anyway why don't you just leave it for us to pick up? or you could always get in your car and take it back yourself yeah, us picking it up is probably your easiest option it's kind of a no brainer ok, well, good talk i have moderate to severe crohn's disease. it's tough, but i've managed. but managing my symptoms was all i was doing. so when i finally told my doctor, he said humira is for adults like me who have tried other medications but sti

back to you. >> mary thompson thank you so much. with the latest on that. earnings continue.ve yum brands hitting the tape and jane wells is keeping an eye on this one. >> the top line beat slightly for the quarter at $4 billion, but the adjusted eps disappointed slightly. coming in at 61 cents. the street was looking for 66 cents. the real story with yum is the china story. it has been having to recover from a supplier issue there. same-store sales in china were apparently down 5% but that's much better than the street expected which was close to down 18%. we're going to get more. the new ceo has just started and he's on this. saying we're committed to restoring our track record of delivering at least 10% annual eps growth year after year. oshg okay. that is confirming that. he says i'm confident we will do this in 2015 as our china business recovers and we sustain positive momentum across. that's the latest right now. a little beat on the top, kind of a miss on the bottom but china not as bad as expected. back to you. >> thank you, jane. that's enough to 1e7ndsend shares hi

. >>> i'm mary thompson. the dow falls 23 the nasdaq adds 5 points the s&p falls flat.ing is exposed to aircraft demand risk. apple closes at a new high bringing the firm's market cap to $775 billion. that's more than twice that of exxon mobile. that's it from cnbc, first in business worldwide. skin looks up to 10 years younger. from the world's #1. olay. your best beautiful ♪ there's confidence. then there's trusting your vehicle maintenance to ford service confidence. our expertise, technology, and high quality parts mean your peace of mind. now you can get the works, a multi-point inspection with a synthetic blend oil change tire rotation, brake inspection and more. $29.95 or less. mouths are watering, lemons are squeezing and stomachs are growling. or is it just me? every minute between you and red lobster's lobsterfest feels like an eternity. and who could blame you for craving our largest variety of succulent lobster dishes all year? dishes like dueling lobster tails. with one tail topped with creamy shrimp and a second tail stuffed with tender crab. i was hungry

. >> mary thompson at headquarters, thanks so much.rican express, walmart and chevron leading the dow lower today. first up a big new valuation for pintere pinterest. according to the "wall street journal" the company is in talks to raise $500 be million in funding, valuing the book marking site around a reported $11 billion. twice the $5 billion price tag in may. uber getting new money raising a million dollars more. uber valued above $40 billion. henry, you tweeted this morning, is there anybody who's not raising $500 million, billion dollars? >> "the wall street journal" talking about 48 companies in the past year over a bill, ten over 10 billion, remarkable. look a lot is real value. pinterest, it's a long ball. there's no revenue there. you don't have financials so you're banking on them being able to come up with some model some way to monetize their massive audience. with uber you have financials. they are taking in a colossal amount of money. >> also spending a colossal amount of money. on pinterest the company has begun to mon

mary thompson takes a look at jobs and the fast growing drone industry.t 8:30. we'll be right back. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade we looked for the best price and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor. i love my shows, but i can't just sit around all day. that's why i have xfinity. their cloud based dvr lets me take everything i recorded, anywhere i go. which is perfect for me, [whispering] because i have responsibilities. ...i mean that's really interesting, then how do you explain these photos?! [people gasping] objection your honor. sustained. with the x1 dvr library you could take anywhere, xfinity is perfect for people on the go. ♪ >>> do you want to fly a drone? do you want to build one from scratch? these jobs are not the stuff of science fiction but real-life opportunities made possible becaus

breaking news with mary thompson at hq. >> one of the reasons the dow's off 62 is weakness in americanby legal decision that was just issued. this from u.s. district court judge, basically in this he is showing that this is a ruling a longrunning suit filed by doj against american esxpress and found the company violated antitrust laws and is guilty or libel of anti-competitive practices in the ruling. this concerns the fact that american express will not allow merchants that accept its credit card to incentivize -- not allow merchants to incentivize clients or customers to use other charge cards. as far as remedy or any kind of penalty, judge in this 150-page ruling says rendering american express's merchant regulations client with the sherman act, antitrust act, of course may not require wholesale abandonment. american express has a period of time to come back with a proposal we don't know what the financial implications are as of yet. but again, the company was found liable like libel -- guilty, i guess of anti-competitive practice and libel of violating antitrust laws, again, for re

mary thompson has the story. >> bill the stress tests weren't expected to be released until march 5thpproves the company capital requests on march 11th. the dow jones is reporting that deutsche bank as well as -- san tander are likely to fail. the european firms could face dividend restrictions and the failure is likely to be an qualitative grounds. the quantitative grounds is their capital levels. the qualitative is their risk controls et cetera. u.s. regulators have been i guess you could say aggressive to get the european banks to improve their risk controls over the last year. keep in mind that santander was one of the five banks that failed the stress test last year along with citi rbc as well as zion's bank. the fed declining comments and neither bank returning calls for comment pfr a little bit of saidoff after hours. not much. watching those banks. >>> on fire the markets burning up. the cnbc.com all over the place. >> users checking out what was behind the rally while others are looking into the oscars this weekend. allen joins us to lay out the hot list. >> one of those mark

our mary thompson interviewed mr. benmosche several times, and i know we're going to have her working on that and others who dealt with aig during the financial crisis, but once again, the company, aig announcing as they say with great sorrow the death of robert benmosche, 70 years old in new york city. ty andy back to you. >> thank you very much sue. our thoughts and prayers do go out to his family. we'll be back in just a couple of minutes time. stay with us here on cnbc's power lunch." the lightest or nothing. the smartest or nothing. the quietest or nothing. the sleekest... ...sexiest ...baddest ...safest, ...tightest, ...quickest... ...harshest... ...or nothing. at mercedes-benz, we do things one way or we don't do them at all. the 2015 c-class. see your authorized mercedes- benz dealer for exceptional offers through mercedes-benz financial services. now with the xfinity tv go app, you can watch live tv anytime. it's never been easier with so many networks all in one place. get live tv whenever you want. the xfin

mary thompson joins us with the details this morning. >> hey there, andrew.sn't one of them. now it seems management wants to play up a quiet restructuring that makes the firm more stable along with the nimbleness. blankfein said earlier this morning we are simple but we are not simpler. at a credit suisse financial crisis blankfein highlighting the reports showing goldman's earnings have been less volatile than its peers. including the firm's risk management, the ability to manager cost especially compensation, and its diverse businesses. the diversity of businesses give 6% came from the institutional client services group. but here blankfein lifts the veil on a business. goldman also delivering higher return on equity. than its rivals like morgan stanley over the years. even as their stock outperformed over a three-year period. marty mosby credits this to mohr dan stan lease' narrative of the fact it's building its asset management business to make it a more stable stock and firm. goalman has been transforming itself into a more stable firm. which is happen

we want to look at a number of the survivors that managed to make it will you the bubble mary thompsonhere she's got that. before we do we want to check in on hewlett-packard. that stock is falling. yan ford is also here. let's go to you, john wlashgts the take-away? >> i think the take-away is new excuses for pretty much no-goes. two that grew here consumer pcs and two areas probably most likely to get commodityized along the lines. and the categories apple includes cisco even able to grow despite those. hp citing lows a big issue, two-thirds of it in europe middle east and africa particularly hard hit. but then in printing the yen back when it was strong hp saying our costs are in yen. now that the yen is weak, they say that makes our japanese competitors stronger so we've got share issues. either way there seems to be an issue with the yen, no matter which way it goes. i think the question now when you get to separation hp and the pcs -- hp enterprises, which one is is going to the growth company. neither one seems to have that much gas in the tank. we'll see if pcs are able to pull

thompson. >> the man can shoot. >>> to men's college basketball now, st. mary's gail's wichd the 24-point win plateau.to take it from here? >> no, you, please. >> this is their eighth consecutive 21-win plateau season. they beat portland 68-51, are you taking credit? >> no. i just cheer them on. st. mary's will host rival go gonzaga tomorrow night, battling it out for the wcc title and a ticket to the big dance. >> we get behind you, go gales. >> good to go to the dance. >>> 5:25. let's look at what the weekend has in store. christina you are excited about the prospect of rain sunday night, monday morning. >> a very slight chance then, a better chance toward the end of the week and you know me, i like to look a good 15 days out. i'm really watching the first week of march. temperatures mostly in the 50s. your day part forecast shows you in the north bay at lunch time, you are at 66 degrees. so very nice day to have lunch outdoors. all across the board you can see what happens as offshore flow starts to kick in, our temperatures become more uniform so just about as warm today in san francisco as what w

mary's star. lee led golden state with 19. 3rd quarter cavs up 6 lebron james took harrison barns to school with that jump shot. steph curry and klay thompson shot 33% combined. they weren't getting the calls either. kevin love looked like he fouled curry. steve kerr already with one technical didn't get another. probably the most an made we have seen him. and that didn't fire up the troops. thompson's bad pass leads to a steal by james. easy dunk on the other end end. cavs win 110-99. . >>> everything you need to know about stanford first half against oregon state but second half much different. the freshman michael humphrey 1 points, 15 rebounds, 14 points, 15 rebounds. jason randall hammered. stanford out scores the opponent by 29 points in the second half and think win 75- 48. >>> sharks and red wings. sharks 2-1 less than 7 minutes left but then! equalizer, 1:20 to go. like groundhog day a backhand goal for detroit. sharks lose 3-2. they are two points out of the play-off spot. they are on the outside looking in. give it up to the san jose earthquakes. ribbon-cutting today and they play an exhibition game against los angeles tomorrow i

thompson and attacked under jerry. you know the sale thing at gm. these issues were before mary was there.usly a top executive. meg is inheriting a company that's been in trouble forever. maybe women have their own choices in these companies, but that's -- who knows? i think this is -- it's a little soft in the idea of it but it's -- there's definitely an issue around not enough women ceos. >> thank you very much. good insight. good article. good discussion. appreciate it. hey, let's get to breaking news. sue her air wra. sue. >> it concerns halliburton. halliburton confirming to cnbc that they are going to have some layoffs in the range of 6.5% to 8% of their global head count of their global work force. although they say they value every person they have, unfortunately, we are faced with the difficult reality that reductions are necessary to work through this challenging market environment. the impact will be across all areas of halliburton's operations. no layoffs have occurred yet according to hall purton or are planned due to the -- those plunging oil prices even though recently we've

mary's star matthew dell ba dove va. lee led golden state with 19. 3rd quarter cavs up by 6. lebron james took barnes to school with the jump shot. curry and thompson low shooting percentage and weren't getting the calls. steve kerr got one technical foul. that didn't fire up the troops. james steals with a dunk on the other end. james season high number of points. warriors lost. >>> stanford against oregon state. second half, the freshman michael humphrey 14 points 15 rebounds. later check out jason randall get hammered on his way to the hoop. stanford out scores the bs by 29 points in the second half. and they win 75-48. >>> sharks indoors red wings fans in the house. sharks 2-1 less than 7 minutes left but then! the equalizer 1:20 to go like groundhog day luke glendening another backhand goal for detroit. sharks lose 3-2. they are two points out of the play-offs spot. they are on the outside looking in. give it up to the san jose earthquakes. ribbon cutting today, and they play an exhibition game against los angeles tomorrow. in the biggest bar in the history of sports. i'm dennis o'donnell. have a great weekend. >>> thank you. play of the day,