. >>> rachel bunny mellon, the business heiress, has passed away. she married one of the country east richest men back in 1948 and later became friends with jackie kennedy. she even helped redesign the rose garden at the white house. but it was in 2011 that john edwards was indicted on charges he tried to hide $725,000 paid by mellon in an effort to cover up his relationship with his pregnant mistress. mellon was not accused of any wrongdoing, but her long time lawyer says she died at the virginia estate that she loved yesterday. she was 103 years old. >>> friends and family of lauren scott say she are shocked by her apparent suicide. reports say she was found hanging from a scarf in her new york city apartment monday morning. scott the long time girlfriend of mick jagger designed dresses for a-list stars including nicole kidman and amy adams. jagger says he's devastated by the ynews. and kid man says she's hart broken about the loss of a friend. no foul play is expected lauren scott is believe order have been 49 years old. >>> a parent of a young b

. >>> billionaire heiress of the mellon bank has died. bunny mellon married paul mellon in 1948. he was one of the world's richest men. she had money before that, though. her grandfather invented listerine. >>> learning about the victims of a deadly house fire. cell phone video shows how intense the fire was over the weekend. neighbors say a man went back into the burning home to try to save the woman that he lived with. we've learned she was 74 years old, a retired nurse in a wheelchair. >> she was a family woman. i mean, she took care of a lot of her family members. and they were all very close. >> family and friends have been leaving flowers at a memorial outside the house. investigators have not said what started that fire. >>> if you are concerned about your child's homeworkload, this story is for you. a new study out this morning says students' homework burdens have barely changed in 30 years. according to the annual brown center report, the share of 17-year-olds who said that they had one or two hours of homework on a typical night dropped from 27% in 1984 to 23% in 2012.

. >>> rachel bunny mellon has died at 103 years old. close friend of first lady jackie kennedy. in 2011, prosecutors say she funneled more than $700,000 of illegal campaign contributions to former u.s. senator john edwards. mellon was not charged with any wrongdoing. >>> and scientists say they have found 14 billion-year-old echoes from the big bang. this is considered first direct evidence of existence in the universe. scientists spent three years analyzing their findings before presenting. >>> with spring on the horizon, this indian festival is in full force. nicknamed the festival of colors, it takes place across india. people of all ages and classes use the holiday to forget their differences by celebrating love and the coming spring. no one is safe from the vibra vibrantvibran vibrantly colored powder and water. if only we had something like that here. but we can't celebrate spring because spring seems to be stuck for most of us. >> covered in powder and water, you would be freezing outside. >> our reality right now, right? hopeful

is that you help from one of the oldest names in banking obviously the mellon name is a big name in finance and has been for decades so banking is in your blood what is it about bitcoin that excites you what exactly. is the first technology where you could actually control your money. is this list with bitcoin. i didn't use this space by the work of. i teamed up with alice waters. with avalon and we have an incubator here with several products we're launching doubt. it will be able to accept tax payments for cities will be able to. there's a few household names that we're bringing on board and. it's very very very exciting ok now when you're talking about just to stay on the steam a little bit of control of course the thing about bitcoin is that there's a limited supply as you point out it's regulated by the block and there's and there's transparency in all the transactions it seems to go against everything that people don't like about their traditional banking system and of course the mellon name and matthew mellon you you're kind of come from the traditional banking system so are

we also had our cfo eileen and david and unfortunately or fortunately jim mellone who was one the leadersthat organized the group was away on business in asia was missed. commissioner mike was really one of the initiateors of creating the group and lead the orientation ever the formation this effort and then also richard from the port of oakland who i've known for a number of years but i saw him in a different light he brought the group together and arranged an critical day and chris who was not able to be there but certainly sent his

we also had our cfo eileen and david and unfortunately or fortunately jim mellone who was one the leaders that organized the group was away on business in asia was missed. commissioner mike was really one of the initiateors of creating the group and lead the orientation ever the formation this effort and then also richard from the port of oakland who i've known for a number of years but i saw him in a different light he brought the group together and arranged an critical day and chris who was not able to be there but certainly sent his wishes we've referenced this but the california port authority passed a resolution with respect to the california lesbian, gay, bisexual, and transgenders group and to make sure we read the entire resolution so all the ports recreation center recognize and all our employees see how important this issue say we embrace all our employees in the diversity of our workforce so where the cappa is comprised of the seaports and dedicated to maintaining the vigorous work in colonel and the port authority has been promoting the interest of the ports and leading the wa

michael woolfolk, bny mellon fx trading desk senior currency strategist. thanks for coming in. already affecting nike. they blamed the chinese currency for its weak forecast. are there other areas that are going to be affected by this change? >> i think you will find other manufacturers in general affected by the change. dollar near term will be here to stay for a while, what happened with the fed over the weekend, janet yellen and the comments that she made. i think the strong dollar will be here for a while. think that is good thing. the fed has been looking for a way to come out of quantitative easing they have been doing for the past few years and this is start of that. other manufacturers will find themselves in a bigger position with stronger dollar and hedging for that and planning for it. david: michael, why is it the chinese are weakening their currency right now? >> one of the things we got from the third plenum in china last year was a statement that they wished to embrace more flexible exchange rate, allow the markets to determine more of the value, the exchange. so

three winners now, vf corp, mellon and financial prudential, with gains of at least 2%. that does it, right? >> going up to 50 this weekend. 50 is the new 70. that will do it for "power lunch." >> have a great weekend, everybody. see you on monday. "street signs" begins right now. >>> well, it has now been five years since the legendary bottom. our beloved colleague called it. what would mark say today? we have investing road map for the next five years. >>> is there turmoil at the top of our good friends at pimco? inflation nation. you won't believe how much food costs are rising. >>> even if you hate taxes, one big tax may need to go up and fast. >> indeed. happy friday, everybody. have you got your party hat on? >> no. >> happy fifth birthday boom. get your party hat on. come on. you should know this is the birthday of the bull market. it is only the sixth bull market in the post-world war ii era. to celebrate its fifth birthday. as for today, let's take a look behind me. despite losing our early gains, we still hit record highs early in the session for the s&p 500 an

your first job was work at the mellon bank in pittsburgh >> yes. >> very early on you realize the sort of bank structure, the hierarchy is limiting. >> yes. >> tell me how you dealt with that. >> i got a job working at mellon bank in pittsburgh. i would send notes to the ceo. i'm a grunt, right? working on these systems conversions converting from old traditional systems to digital systems. i would read articles thinking the bank would benefit from this. i sent notes to the ceo and he'd respond to me. and until my boss pulled me into his office and started screaming at me. john whitman. just yelling and yelling. you're not allowed to do this, not allowed to do that. i realized i was never going to be a very good employee. >> you were basically not observing the bank structure. >> no. i wasn't going through my boss. i just went right to the ceo. it was like no big deal. the whole point when you go to work for somebody, i thought, was you do all you can to make the company more profitable. no limits. and i realized i wasn't going to be a very good employee then. >> was that the moment yo

. >>> heiress rachel "bunny" mellon has died at teenage of 83. she was well known in art and philanthropic circles, was friends with jackie kennedy, but her name may be well known in modern times from the john edwards finance scandal. in an effort to cover up his relationship with his pregnant mistress. mellon was never accused of any wrongdoing. >>> coming up, apresident putin talks to the world about annexing crimea. is it too late or can the u.s. stop him? vice president biden on the ground in poland right now, stepping up the u.s. presence. also, could march madness help the white house hit its target for enrollment in obamacare? they're even calling it an assist from lebron james. >> the deadline to enroll is march 31st. so sign up now. you never know when you might take a hit. >> we'll break down the xs and os of the president's strategy. that is coming up. [ male announcer ] this man has an accomplished research and analytical group at his disposal. ♪ but even more impressive is how he puts it to work for his clients. ♪ morning. morning. t

wealthy arts patron bunny mellon has died.he billionaire and political benefactor was a close friend of jackie kennedy and gained notoriety in her later years for funneling hundreds of thousands of dollars to the presidential campaign of skrjohn edwards. she was 103 years old. >>> the road to lieutenant governor is getting bumpy for jay paterno. a rival democratic candidate is challenging more than 200 signatures filed. the son of joe paterno announced his bid for pennsylvania's number two spot three weeks ago. >>> after a stint in the big house, 86-year-old edwin edwards is hoping to go back to the u.s. house. the former four term louisiana governor jumping into the race to represent the state's sixth congressional district. he was released from federal prison in 2011 after serving nearly a decade on racketeering and extortion charges. >>> the dream act is dead in new york. at least for now. state senators killed a bill granting tuition aid to children of up documendocumented workers. it was rejected by just two votes. not on

bunny mellon was a friend of first lady jacqueline kennedy and restored the white house rose garden afterresident dwight eisenhower tore it up to put in a putting green. how did a school that sent eight men to the white house but only four to the nba become a basketball powerhouse? that's next. as a woman with overactive bladder, i knew how it felt to be trapped with no restroom in sight. and what it was like having to get out of bed again and again. that's when i decided to take control with the oxytrol for women patch. i did my research. i found the patch is safe and effective when used as directed. it reduces my symptoms of frequency, urgency and accidents. and it's fda approved as otc. my life has changed for the better. yours can too. take control with oxytrol for women. why do people count on sunsweet pruneit's made only from prunes, the inothing else. it works, simple as that. it's a natural source of fiber and 5 essential vitamins. it's the smart choice for me. try sunsweet's amazing juices and new amazing prune light. i have a cold with this annoying runny nose. [ sniffles ] i be

it includes fruit and candy flavors such as cherry, water mellon, cotton candy and cookies and cream, milk shake. this is the same size [speaker not understood]. this is especially disturbing and remember that many of these smoke shops are located on the same block as youth centers like the boys and girls club in ellis park. living in the tenderloin you really get to see how tobacco companies target low-income residents and [speaker not understood]. and find that these same such as [speaker not understood] which owns newport are responsible for e-cigarette companies [speaker not understood]. [inaudible]. >> thank you so much. thank you. next speaker. >>> hi, my name is crystal ortega and i currently go to san francisco state university. if you guys don't know, it is known for being a smoke-free campus. however, i see many students smoke e-cigarettes on campus and that includes the bus stops which is directly in front of the school, in the hallways, and even in the classrooms. [speaker not understood] 32% of the students who are frequent users who use e-cigarettes. and with [speaker no

. >>> arch patron and benefactor rachel bunny mellon died. world at the time. bunny's passion was gardening. her friend, jackie kennedy, had her redesign the white house's rose garden. her support for john edward presidential run led her to give him a small fortune that he used to hide his mistress. bunny mellon was 103 years old. >>> we are learning new details about fashion design eer l'wren scott. police in new york are treating her death as suicide. saying there are no signs of foul play. so far there is no suicide note but this morning reports out of the uk say her design business was failing and she was more than $6 million in debt. >> l'wren scott seemingly lived life at the top. mick jagger's girlfriend of more than a decade. successful fashion designer who split time between london, new york and paris. monday morning scott was found dead of an parent suicide in her new york city apartment. just week shy of her 50th birthday, she becomes part of stunning statistics. age group with the highest suicide rate, 45 to 64. police say it was

. >>> "the new york times" looks at the passing of rachel "bunny" mellon. award the metal of honor to 24 army veterans. only three are still alive. the honor comes after congress investigated whether jewish or hispanic service members were wrongly denied the medal box of prejudice. >>> and "usa today" said students' homework hasn't changed much in the last 30 years. the bookings institution finds the number of 17 years homework dropped from 23% in 2012. the amount of homework remained unchanged at 13%. >>> and cbs baltimore said the national baseball team is in trouble with the faa. last month, they sent a drone to take pictures at spring training in florida. they stated no we didn't get it cleared but we don't get our pop flies cleared either and those go higher than this thing did. >>> and how lar lynnarlyn koben is known for his heart-pounding thrillers. his new novel "missing you" is about a police detective who uncovers the conspiracy after joining an online dating site. harlan coben joins us for an interview you'll only see here on cbs. >> good mornin

. >> the duff sees an opportunity to make a mellon gimlet. >> a little gin in it. >> a little gin indrink. >> you're on your own, dude. >> mmm-mmm. >> if i was a chef and you'd poured gin in my soup i would have stabbed you in the neck with a fork. i'm dying inside. you're the worst-case scenario customer. [ muted ]. >> next up, smoked mussels in a lightly steamed white wine, aromatics and butter. served in a lobster broth with fried onions, honey and uzu. quite delicious. baby greek salad with beets, tomato and feta. all sourced locally. a tribute to the greek diners where craig grew up eating with his family. this guy could be running a 300-seat restaurant in vegas. here he is in detroit. >> guess what? >> that's a heroic thing. >> the headaches are less. you're appreciated here. >> no, just -- no, this is -- >> yeah. >> this is what could considered a foolhardy venture in the chef world. >> guess what? we like good food too. we're not space aliens. people say -- they often say, thank you. we just moved back from chicago, we lived in chicago the last six years, lived in l.a. six ye

it's been six years since your merger to form bny mellon.ns in your peer group? and i'll go to citigroup's meeting and say, good start with the restructuring. but what have you done for me lately? i have a whole list of questions. but asking polite questions but pertinent questions. >> i hope you come back after you go to those meetings and tell us how it went. mike mayo. let's trade the bank stocks here. tim? >> mike talked about the yield curve. this is the other part of the story i was looking at. if you get rates going back to 3 1/2, i think you can get by the early part of next year, 2015. money center banks make a ton of sense. go back to valuation. certainly, bank of america, at 0.8-times book to me, that's where you want to be. jpmorgan, these are the trades that make sense. >> karen, ccar results are out march 25th. are you expecting anything different? >> not really. >>> let's get unusual activity. investor mania, in wwe. what did you see? >> wwe, the world wrestling entertainment company. back in november, strong activity. back in

performers and the stress tests were state street, discover financial, rather and bank of new york mellon. now under dodd-frank financial reform as you mentioned the fed must estimate whether the biggest banks could survive and continue to operate in another terrible financial crisis and recession so that taxpayers don't have to bail then out again. the fed assumed in this test, a something called a severe adverse economic scenario. with gdp falling nearly 5%, unemployment rising to a 11%. stock prices tanking, by 50%. home prices tanking by 25%. the stress test showed that they would lose $366 billion on their loans through the end of 2015 under that scenario. about 500 billion including trading losses, but, despite that, because they have been beefing up their capital since the crisis on their own and under more regulation the 30 banks in aggregate would still end up with tier one common capital, the strongest form of equity or shareholder cash of 7.6% by the end of 2015. they're required to have at least 5% tier one capital. these results will be part of the capital plans the fed is re

three winners now, vf corp, mellon and financial prudential, with gains of at least 2%.nd. 50 is the new 70. that will do it for "power lunch." >> have a great weekend, everybody. see you on monday. "street signs" begins right now. >>> well, it has now been five years since the legendary bottom. our beloved colleague called it. what would mark say today? we have investing road map for the next five years. >>> is there turmoil at the top of our good friends at pimco? inflation nation. you won't believe how much food costs are rising. >>> even if you hate taxes, one big tax may need to go up and fast. >> indeed. happy friday, everybody. have you got your party hat on? >> no. >> happy fifth birthday boom. get your party hat on. come on. you ou

it was created back in 1982 by a computer science research professor at carnegie mellon in pittsburghw? i didn't know that. we turn now from first-time home buyers to the super, super rich buyers. one of the hottest spots for high-end real estate right now is new york city. and who knows the market better than your next guest? joining us now from bravo's hit show "million-dollar listing new york" is ryan. >> thank you for having me. >> tell us about the high end. who's buying? where are they buying? give us the scoop. >> i do my best to get them to buy in new york city and through me. naturally. but everybody is buying. year over year, it's not just internationals anymore. people are talking it was the russians and the chinese. but now it's everywhere. it's the guy who's looking to use the cash he's been sitting on for five years to put into something that he feels is a good, tangible, appreciating asset. >> you're currently trying to sell, like, a $23 million property in chelsea. >> yes, west chelsea. >> there were some ridiculous features we were talking about in the break that i kn

steve daferren port at carnegie mellon's got a paper working on this that i think is going to be a very important document. >> the gentleman back here. >> thanks. i'm eric sterling. and i wear a lot of different marijuana-related hats. but my -- and i want to say what a terrific panel this has been, how much i've learned from everybody and and how excellent the discourse has been. my question is what are your suggestions about what kinds of conversations families should have about marijuana use to discourage young people from using marijuana in either the current, you know, national discourse in favoring it and then in a postlegallization environment. i'm on the montgomery county council, alcohol and drug abuse advisory council, and i think we're struggling to figure out, you know, what should we be saying in schools if the old bs is no longer valid? >> sue, do you want to -- >> sounds like a question coming to me. [laughter] >> sure does. >> i think that it's important to understand that as the country accepts marijuana first as a medicine and more recently as, for recreational use in

essentials the the wall street outpost in the toys and marched up to the floor of new york bank of mellon which told her mortgage was located and she said can i come in and have an appointment and talk about my mortgage because hundreds of people just blocked the dumpster and i don't think you will be able to foreclose on me so why don't we work something out to the secretary said you can't come in because you don't have an appointment so bursa took a deep breath and her pressed perfect suit, she laid down in front of the board of the office and when the secretary leaned out and said what are you doing, she said if i can't come in none of you people can come out. and she stayed there for a very long time and the next day the bank lawyers called her lawyer and said could you please call off the dogs cutie -- when i met with her on sunday she had just signed the papers to own her home out right for the first time in her entire life. on that trip i saw with my own eyes what i have only heard whispers of. those were in fact liberated blocks on the east side of the forest and i received a 2 or

. >> you also have a trade on bank of new york mellon.ctivity. >> we have to leave it there. keene. is next.ney" ♪ >> welcome to "lunch money." we tied together the best stories, video, and interviews in business. intech, blackberry's mission. -- a little vip treatment. tomorrow is international women's day. how top executives lean and. the government says there is adt'sing not right about sales pitch. in fashion, the billionaire who started the diesel brand. he brought his son along

and in the middle of that experience, i got a mellon fellowship to go to cambridge. and then when i went to england, instead of wanting to be lawyers and doctors and journalists, like all my friends did at yale -- most of my friends -- the smartest people there wanted to become academics. and then i met anthony appiah, who was this brilliant african who was nicknamed "the black wittgentein" and i saw this great potential to be an academic, and then there was soyinka, this great writer who had given his life over to arts and letters. and i had these two models in front of me every day, and i decided that's what i wanted, too, and i abandoned any idea of being a lawyer or a doctor, and i became a scholar. c-span: when did you know that you had the mental capacity to go to yale and cambridge and get a phd and then teach at harvard? >> guest: well, my mother decided that my brother and i had all that two seconds after we were born. i mean, my mother -- like any mother, i mean, i would presume -- thought that we were god's gift to the earth and she sort of told us that ev

steve davenport at carnegie mellon has paperwork on this that will be very important document. >> the gentleman back here. >> thanks. i'm eric sterling. i wear a lot of different marijuana related hats and i want to say what a terrific panel this has been and how much i have learned from everybody and how excellent the discourse has been. my question is what are your suggestions about what kinds of conversations family should have about marijuana use to discourage young people from using marijuana in either the current conversation, national discourse and in the post-legalization environment? i'm on the montgomery drug and alcohol abuse advisory council and i think we are struggling to figure out what should we be saying in schools and what should families be saying if the old is no longer valid? >> you sue? >> i think that it's important to understand that as the country accepts marijuana first as a medicine and more recently as for recreational use into states that message that is coming out to children is it's a safe drug. she co-mom it's medicine. why can't i use at? i'm going to

names, dates, mellon addresses, insurance id numbers, and most important social security numbers. at this point, they are attempting to notify those people to let them know. in some cases they're born even farther in. according they're offering those nine dozen people credit - 3. it seems like these cases are happening more and more. now, the medical center is warning people and obviously, this is something that is all rise. they're reaching out, hoping that they can catch a soldier. >>. >> a man was shot and killed and eight marin county campground there tomales bay this morning. marin county sheriff deputies responded to report of a shooting at lawson's landing, near da lin beach at about 230. when they arrived, they found a man with one gunshot wound. two people have been taken in for questioning. >> coming up on kron 4 news. police in one day committee are trying to crack down on prostitution by shaming johns. >> the dry winter continues to force bay area cities to consider border restrictions. water restrictions. >> welcome back. we are continuing to track delays although the

the top performers were bny mellon and state street corporation. >>> a recall involving kids' bed canopiesre are no reports of any children getting seriously hurt. customers did complain the canopy nets were pulled into the cots and becoming entangled around infants' necks. ikea will give full refunds to customers who return the products. >>> starbucks planning to turn more of its cafes into beer and wine destinations at night. the company is looking to expand alcohol sales to thousands of select stores over the next several years. the chain first offered beer and wine after 4:00 p.m. at one of its seattle cafes in 2010. this is part of starbucks way to boost sales after the morning rush. what do you think, would you wander in there for a nice glass of cabernet? >> it's mixing two things. i don't think so. it's already in 40 stores now. it'll be in all of the starbucks cafes. but i don't know, i think starbucks is a coffee place. would you go? >> it depends on the city or the town i'm in. if that was one of the only games in town, i might. >> and the chief operating officer said they have

it has some type of tabasco, mellon. >> i love cilantro on full but i never knew it could go into a drinkike it. in drinks, it is interesting. >> now let's move to the east. >> one of my personal favorites is zut which is located in downtown berkeley. it is really great because it has a french bistro atmosphere. it is very charming. the green trend to try there is called a the--it took me awhile to learn more pronounced. it is a nice, white-and green. it used to be on the menu but that took off, it is still available. the >> i should mention that to rise, there rotisserie chicken is very famous. >> in berkeley, they have a nice place where you can stroll. >> yes, they have a patio on a sunny day for you to said. maligned >> let's talk about one in albany, the hotsy totsy club. >> this is a very-sessions see the sign. it is very historic. i think it used to be some type of pharmacy but thinks for the left yelp reveals. that make their really-tested to the last word, it has a gen, it is pretty simple. it is also great. it is really fun inside. they have a shuffleboard, a jukebox and a pool

there are a according to bmy mellon an awful lot of individual who are working on a near zero rate thresholdrates rise, won't they? there will be chickens that come home to roost from the huge period of long, low interest rates. >> no doubt that's true. i think investing is all about timing, simon. if none of the debt's due until 2017 or '18 you have to guess about when people will care in the equity market and by the way between now and 2017 you'll gentlemen rate a lot more free cash flow it's not like the capital market's going to be closed. it's not a guarantee that things will be disrupted majorly in a fewiers. no doubt that debt's a problem. i think ultimately down the road you have to be worried about inflation but i think in the near term that's not a big risk. the fed's told you they are not going to move the front in and that's probably still supported. >> we'll see if they have to move on that. before we let you go. bottom line it for us, what's the best idea? what's the best area of the market to be in? >> look, we have a balanced portfolio. we try to beat the s&p. the top choice