once again, we have bank of america, merrill lynch the winning bidder. on the next slide, slides 3, you can see all three sales. some of the bonds were the largest, $603 million. we had several bidders, and bank of america/merrill lynch once again the winning bidder there. to help put this into perspective for bank of america/merrill lynch, they have been one of our largest buyers since 2006, and the enterprise has been selling a great deal of bonds. about $1.60 billion total they have purchased, including what they have just purchased. this bid was to fund our hetch- hetchy facilities as well as our water in the city. citigroup global bought those, and then our bank of america/merrill lynch bought all of the re-fundings. so we premature cheap what was adopted as part of the last budget hearing. in that model, we had an average cost of borrowing. we achieved an average overall of about 4.48%, so we are pretty close. the items that also happens, the bond sale, moody's did downgrade us given our weakness. we had thought that would occur. moody's previously

, if you walk by and look closely at it -- you can see there are hundreds of people in the merrill -- in the mural who are members of the neighborhood she actually interacted with during the installation. because of that, the community has an investment in making sure this is not vandalized. we brought wonderland, a public art exhibit, to the tenderloin. it featured 16 art installations throughout the neighborhood. it was a way to highlight the neighborhood and a way to get people to come in and press pass through the neighborhood. we have a merrill that was part of that project and a sculpture and other installations as well. we hosted an art gallery and a monthly concert series. that is, in a nutshell, our beautification projects. we also worked on safety for the neighborhood. in 2007, we worked closely with the community to develop a comprehensive neighborhood safety plan. that has created a movement called tnt, the new tenderloin. we were able to get a large number of residents to city hall to speak to the board of supervisors hearing and present at that time with five dozen signa

we have a merrill that was part of that project and a sculpture and other installations as well. we hosted an art gallery and a monthly concert series. that is, in a nutshell, our beautification projects. we also worked on safety for the neighborhood. in 2007, we worked closely with the community to develop a comprehensive neighborhood safety plan. that has created a movement called tnt, the new tenderloin. we were able to get a large number of residents to city hall to speak to the board of supervisors hearing and present at that time with five dozen signatures demanding the can be considered in the same way that many other neighborhoods -- with 5000 signatures demanding the tenderloin be treated in the same way that many neighborhoods are considered. we also worked with nightclubs and liquor stores. we bring an annual street fair to the neighborhood and close jones street between mcalester and golden gate to create a safe block where families can celebrate the holidays. we sponsor the tenderloin health and safety fair. we also invited sunday streets and advocated they come to t

worth and why with patience especially merrill lynch global such as metal visions but never the worse it was more pressure for the market. neutral and basically. more that's it for now join my colleague mary in the course or she'll be here ten twenty am moscow time with a fresh wednesday update. all . the. hungry for the full scoop we've got in first hand the biggest issues get the human voice face to face with the news makers on our t.v. . wealthy british style. that's not the type of. market finance come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines tune into cars a report on our cheek. if. russia would be so much brighter if you knew about someone from financed impressions. who for instance on t.v. don't come. to india cause he's available in the movie.

bank of america merrill lynch and the president what results which were action was really great for what you're worth more or less and why and with patience especially merrill lynch almost a little your solution but never the worse it was more pressure so the market reacted great news for all that and where they agree if there's one person. high tech project scorpio voice continued to attract new companies russia's arts it's a silicon valley has revealed a further thirteen signing up projects chief operating officer says investment is coming from both big and small plates and on one level we've already attracted commitments from for example cisco over one billion dollars to invest in chicago on a smaller level one of the big pharma we've also attracted forty million dollars to invest in venture funds pause a hundred million dollars to invest in setting up an r. and d. center for clinical trials at skolkovo and then on another level in the venture capital we've attracted four funds collectively which have committed financing to go finance with us about forty million dollars as well so if

very important results mostly probably for the national sector goldman sachs and bank of america merrill lynch in the pacific what results which will actually look really great for what they're worth more or less and why with patients especially merrill lynch global socialism to the local officials but nevertheless that was what frederic so the market reacted quite unusual on that and basically the if there is with this high tech project skolkovo is continuing to attract new companies russia's answer to silicon valley has revealed a further thirteen signing up for g c four pricing offices says investment is coming from both big and small plates. on one level we've already attracted commitments from for example cisco of one billion dollars to invest in chicago on a smaller level one of the big pharma we've also attracted forty million dollars to invest in venture funds plus one hundred million dollars to invest in setting up an r. and d. center for clinical trials at skolkovo and then on another level in the venture capital we've attracted four funds collectively which i have committed fi

swallow that said i must find an expert on swallows who are sick doesn't know this the mayor young merrill says it's a representative from bertie preserve that you know without. i don't know as the person says it is on march seventeenth i asked the citizens if they agree with the radar base i recommend that you find the courage to ask the citizens if they want the base city or the three men sat here one from the science academy one from the defense academy that mr couch. i heard they advised you if you and scientist have advised you mr burr sixty one you will totally destroy bertie's flora and fauna and flora but you don't live there so you don't care about when will you wake up yes not when there was. we took the fifty years to get it i said on what lemaire all about i am convinced that the certain things cannot be put to or a friend but we cannot vote on the death penalty because the great majority would be for renewing it we cannot vote on taxes because the majority of people don't want to pay any taxes and we cannot put the defense of our country up to a vote but in contrast to the soc

mayor young merrill says it's a representative from berkeley preserve that's without. a moment's notice nothing says that power is on march seventeenth i asked the citizens if they agree with the radar base i recommend that you find the courage to ask the citizens if they want the base city or the three men sat here one from the science academy one from the defense academy and mr couch scheme. they advised you if you and scientist have advised you mr burr sixty but you will totally destroy bertie's flora and fauna and flora but you don't live there so you don't care when will you wake up yes not only was the. to be a good at less than normal what lemaire all but i am convinced that the certain things cannot be put to a friend them we cannot vote on the death penalty because the great majority would be for renewing it we cannot vote on taxes because the majority of people don't want to pay any taxes and that we cannot put the defense of our country up to a vote but in contrast to the social democrats we act openly we're not afraid to put ourselves on the line and we sha

>> merrill lynch originally sought an affair is a growing tea party movement. >> i have heard. >> of pleasure to meet you. >> >> you are catching on. [laughter] smack hello. i am from or against the macquarie doing in washington? >> i am here with one of the university's. >> is this for you? >> i am glad you were in town. >> tomorrow. >> from the heritage foundation. >> nice to meet you. >> where you from? >> virginia smith how long have you been here? >> two and a half years. >> hello nice to meet you. i thought you looked familiar. >> this is for my dad he wanted to make sure that i came to say hello to. >> thank you for all that you do. [inaudible conversations] [inaudible conversations] >> i talked to the last stafford. >> can you have a cartel while i finish this then we can talk? [laughter] it is so good to see is. >> rihanna radios today? -- were you on the radio today? >> that is my girl. >> they cannot let it go. >> we will see you later when did you get the picture? thank you. >> thank you for everything that you do. each of them that was so they can read it at the same tim

in terms of budget vs actual expenses, 2007-20000 -- 2007- 2008, projects like the merrill were not finished. in the last fiscal years, they were very close to what the budgeted. lastly, each year the receive two big transfers from the city comptroller's office. that is when people pay their taxes. the money they receive in may is referred to as deferred revenue. really, that money takes them through the first six months of the next fiscal year. at the end of fiscal year 2009- 2010, they deferred 430,000 from their budget to get them through the first six yet -- first six months of the next fiscal year. they also had net assets of $283,000 which the allocated to specific projects in fiscal year 2010-2011. i know. it is almost over. they had a budget of $1.20 million. you will see here an amount of $433 thousand, which is income over expenses. that amount is going to get them to the first six months of the next fiscal year. lastly, recommendations from our office. our office, along with the controller, strongly recommend an annual audit, starting with this fiscal year. i am happy to hear the

after my second story, i started getting offers from goldman sachs, merrill lynch. i said, i wanted to do work that was meaningful to me, so ended up working in the prison system at rikers island. i know all of that was in so many ways possible because of the work that you did. i just want to say that i honor you, respect, love everything that you have done, all the roads that you have paid to allow me to do the best things that i have done. [applause] >> 44 years apart these two stories happens. clearly, life is not the same. so i went to ask you, miss coleman, what has changed since your time? and, bryonn, after that, what has not changed? when you listen to this story 44 years later for what you sat down and fought for, what has changed? >> well, that is a difficult question. i have to say, depending on what part of the country you come from -- when i have visited and montgomery, people ask, what did they get out of the civil rights movement? one thing. the street that i lived on, instead of calling it east dixie drive, they called it claudia colvin drive. [appla

to race series of merrill's reflecting the turn of the century in which there were painted, both good bad government are depicted. >> over the door where you enter, you have government represented as everything in balance. in the middle is you're always allegorical female figure. there is a line from the gettysburg address. it is all in balance. government is working as it should. but on the left side you have two murals showing what can happen if government does not do its job. one has a figure of anarchy, a firebrand. she is holding a burning constitution in one hand. the figure on her right is trying to pry it out of the cornerstones of our institutions. they are also being destroyed by stumbling stones. the tree behind her is dead. everything is wrong. the worst-case scenario is anarchy. beside her, the next a mural is one of crops legislation. the figure is an amalgam. this was the 1890's. this is probably a combination of john d. rockefeller and jay gould and jpmorgan. he is a big player. he has bags of money. he has stuffed the ballot box. his factories are belching away, going

investment management at bank of america, she oversees more than $2 trillion of assets for clients at merrill lynch and u.s. trust. our conversation began with her take on the stock market for the second half. >> the u.s. economy will continue to muddle its way through for the remainder of the year, and the return on equities will be positive for the remainder of the year. >> sallie, what is your take on the economy? so many people say the u.s. economy is in for a prolonged slow-down. >> not atypical after we see see a financial crises. our clients are affluent, high net worth, ultrahigh net worth clients. we see that they continue to feel very conservative, that they're deleveraging as a group. that's important, because these folks start businesses, run medium businesses, small businesses or corporate executives, and their conservatism feeds through to the rest of the economy. >> do you think that stocks will still prove to be a good investment in an economy that's going to be weakened with high unemployment? >> it is a fallacy in many ways, the belief that economic growth has to be very fas

so this -- merrill stubs is the partner on this. >> that's right. >> it's food52.com. and it's a lot of recipes, but to call it a blog or a website that contains recipes does not do it justice. talk about how you -- >> it is really a food community because it's not us, it's the whole community of people who are involved. and essentially we were interested in the concept of crowd sourcing and carryiation because we feel thaifs very much missing online. we knew there had been a cultural shift. americans had gone from being really interested in food to like really knowing a lot about food and having very specific expertises. and the evidence of this is the thousands of food blogs that have proceed liv prolifera. people want to express themselves and be credited for it and.. and we wanted to focus and create this platform where the crowd together kind of finds and elevates these great cooks and their recipes. and we wanted to start with recipes to begin with, but we'll start adding other elements of food so it becomes this hub of all things food that's occur rated by every

america merrill lynch if there's a result which will actually look really great for one or more worse than what i was. just global such as middle east but never the worse that was what frederic so the market reacted neutral on that and basically. all that's it for now enjoy my colleague in the course or she'll be here at ten twenty am moscow time with a fresh wednesday update. hungry for the full story we've got it first hand the biggest issues get the human voice face to face with the news makers on the. wealthy british style. that's not on. the. market why not come to. find out what's really happening to the global economy with max cause or for a no holds barred look at the global financial headlines tune into cars a report on our. if. russia would be so much brighter if you knew about someone from focused impressions. who for instance on t.v. dot com. in india call to. is available in the move go joint be put to the ambulance we go to the grand imperial truly the george west coast coromandel you can go with her till the close of the show to say don't need to go. read this and the c

bank of america merrill lynch and now the specific what results which would actually look really great that would be worth more awareness and why with patience especially marilyn woman such as with all the local officials working with the west it was more pressure so the market reacted. on that and basically your fears. is as he will be back in fifteen minutes time will not take ten secs. hungry for the full support we've got it for us has the biggest issues get a human voice face to face with the news makers i'm not see. if. i am sick of nature and discover its music in the. in the. communicate with the wine until the. test yourself and become free to. see what nature can give you on on see. the. india call she's available in.

it's actually third party data we've generated whether it's bank of america, merrill lynch or other organizations. we tend to find it and present it to the fcc as sort of independent data. that which does come specifically from ctia is part of a semiannual survey we've been doing for about 20 years now that is submitted by members and pieced together before it even makes its way to cti automobile accident. >> host: matt wood, does that effect the quality of the data with ctia providing it? >> guest: we havewe've often sat the fcc should do more independent analysis and also go out and subpoena people. get the data from industry that is proprietary, that is not readily shared. the fcc doesn't need to put that out there, they need to do a better job of actually gathering data and not simply relying on what comes to it from third parties and other analysts who might have a stake this the industry or a very easy, tailored opinion. >> host: we're pleased to be joined by our regular, paul kirby, who's a senior editor with telecommunications reports. >> host: thanks. let's dig down a little. the report

couple of important results mostly from the point of full sector goldman sachs and bank of america merrill lynch in the us to think what results which would actually look really great for one or more western was patience especially marilyn trauma such as we do what we usually but never the worse that was work so the market reacted neutral on that and basically. this is us it will be back in fifteen minutes time with. you. hungry for the full story we've got it first hand the biggest issues get a human voice face to face with the news makers on our team. in the. discovery. communicate with you want to. test yourself and become free. nature can give you. in india in the movie the joys the photo. the gateway photo the grand imperial trying to tell us to. close the. clear road to the colonel was a photo retreat. this is our team from moscow our top stories the murdoch media. has over alleged phone hacking and bribery of the now defunct means the world rupert murdoch and his son were followed by the former c.e.o. in the u.k. rebecca brooks questions about the inner workings of the shady. takeov

. >> getting hurt the have inspired his greatest speech when he got to merrill lynch in october dazed october 57 happen as my life i would talk amusing for half an hour and it wouldn't hurt anybody. hardly the gem of words but anti-them did inspire or made possible bid greatest act. into them and the fall of 1862 liberated they can as much as it liberated the enslaved people. and as have been argued so convincingly with their work as we all agree tonight, it transforms the war for the union has it was our what it could be that embraces freedom. thank you very much. [applause] >> what inspired you to write this book? >> when i began looking at this study it was one of the topics that i got the most interest and questions about and tell what it meant to people and how important and the time being worked out because i was undergoing a renovation that was pretty close to being done so the interest was that the fever pitch. >> host: can you explain the shopping center and its importance to chicago and the suburbs of the early '60s? >> guest: is a big first there's a lot of unique figures.

it's fun to watch merrill do margaret thatcher, transform into margaret thatcher and play it across 30, 40 years of her

we had the final crisis when lehman and merrill out of buy.t go out of business, the markets put them out of business. that's my big worry. soy far the -- so far the markets are calm, surprisingly so to me >> arthel: the average person is caring about their jobs and whether people are going to start hiring them and they are not going to charge too much interest rate. we could go on. >> businesses are afraid to hire, because deficits crowd out the economy. i think that's why unemployment is remaining high. >> arthel: i feel like it is turning into this political football. i think the average person is getting to the point where who should they believe? they are telling me that we have to stop now. gary, i've enjoyed the conversation, but i must end it there, thank you for your time >> my pleasure. >> rick: 15d news out of london today. sing -- sad news out of london today. er amy winehouse is dead. -- the cause of death not immediately clear the 27-year-old had a history of struggling with drugs and alcohol for years. >> her death this is very

they were serving up was poisen and what you saw in 2007, you saw institutions bear was ignoring it, merrilln't realize the exposures until in hot water with goldman and others still many had problems, were quickly trying to off load what they had as remaining risk as quickly as they could so those instruments, the nontransparency to look into a cdo because they were not qualified buyers with the right to are very central to the crisis. >> well, i think you've explained why there were severe temptations to the corporate executives, but have not explain why they yielded to the temptations. after all, they played to make money, and they lost money. >> they put money on their stalks -- >> well, that line of argument, i think, is then another kind of missing line of argument. the question is can you trust the executives of these institutions to have the interest of the institution as such as heart because it would appear in these episodes that the interest of the institutions might have been sacrificed to those of the executives, and i think again i think that that phenomena also deserves a lot

they thought they would raise merrill others to join the confederate boss this is not turn out to be true. he really could not stay still. this is best action. >> i think lee was always an avid reader of northern newspapers and a follower of more than politics. he was well aware that the congressional elections were scheduled for october and november of '86 to and even wrote to jefferson davis saying that by invading maryland's and as he hoped inflicting another defeat of the army of the potomac may be on the scale of the second manassas that he can actually influence that election. maybe the democrats would gain control of the house and forced the weakened administration to negotiate for peace. also at the same time we need to remember that the war is taking place that only in virginia but across a front of 1,000 miles. the confederates were on the offensive in the western theater where general brag and smith were invading kentucky. also with the idea of winning that state for the confederacy. when we went across the river into maryland and the first trick of september, 1862, confed

merrill lynch an expected player, putting out a note and they exhibit x us to not default and lose the triple agent rating down the line, on main street and wall street for borrowing costs. >> harris: that's where people are going to tune in closer now. for the average person, how does it affect our wallet. are 401(k)'s going to suffer? >> absolutely. you can expect if stocks and bonds selling off. if we lose the triple-a rating. we've paid our debts and that's one reason people continue to flock to the u.s. dollar and treasury markets and globally you'll see them rallying and see that happen as people see what's happening in europe. treasuries selling off and individuals own, we own most of our own debt here and you could have money market mutual funds in trouble because they invest in treasuries, some can only investor in triple-a rated entities and have to sell off the bonds and that makes borrowing costs higher for the u.s. and higher foremunicipalities, and borrowing costs all the way to individuals trying to get a loan to buy a car and everything could be moving higher in terms o

and why they did what they did and when and where they did that turns the merrill when you step away from minden to a portrait of we are today, and that is what this book of mine is all about. thank you very much. [applause] [inaudible] [laughter] >> the bouck connects to the fallin and a lot of people say that as vermont, the green mountain boys. the green mountain boys came into existence because at the time there was no vermont. new hampshire always believed the land was part of new hampshire but the king of england gave it in 1763i believe to new york. by that time, new hampshire have already sold land in what is today vermont and deeded it in new hampshire, the new york started selling in some cases the same land and the beating it in new york. some of it was owned by ethan allen and his brothers among others and the did in new hampshire and the for the vigilante group called the green mountain boys that went after these new yorkers a riveting. ethan allen had never built furniture by the way, never made furniture. [laughter] but he burned a good deal of it. [laughter] and he wa

of course, what twyla merrill did, she moved here in 1963 and as other people left, she started buyingy, she has been stricken with cancer and her efforts to battle that has prompted her to sell scenic which as you mentioned, goes less than a lot of new york city apartments right now at $799,000. >> when we're talking about buying the town, what is it that you actually get? do you get all the buildings and land underneath it, you own the town government? >> reporter: well, it's a township so the government is basically, or the different areas, sewer, water, et cetera, are run by councils. what you get is 46 acres and a number of businesses and different buildings. right behind me right here is the longhorn saloon which the realtor, david olson, says is ready to open. all you need is an owner to get in there, clean it up, bring in the beer, wine, whatever you want to serve, it's ready to go. there's a gas station here that's ready to go as well. there are a couple of homes, whether or not you want to keep those up, that would be your choice, i suppose, as well but certainly, there is an

board members has also led his name to this organization and also kgmg, and ktmg, bank of america, a merrillnd also our attorneys working pro bono working into full compliance. there is been a series of organizations that i could keep meaning we are very thankful. >> awesome best of luck. fifth let us know what happens. >> we will see you at 8:00 p.m.. (music) >>> the best in our back story series on the stars of summer's block busters. >> a special fourth of july "insider." i'm brooke anderson. >> and i'm kevin frazier. the "insider" is on. >> see if this thing is working, oh sflchlt. >> before you see her in black lingerie, the lost bikini shoot. >> modeling can be really hard. you have to keep smiling and not fall over. >>> before friends with benefits -- justin timberlake's star search debut. the days with christina and future girlfriend, britney. >> i'm a proud boyfriend. >>> as harrison ford

that we are doing the right things because i think a provocation can occur anytime. >> finally, at merrill, on the question of your attention to people you made reference to a couple people on a ship. is there any legal prohibition against them being tried bfore in article iii courts were before a military commission? >> sera come again it depends the individual case. i'd be more than happy to discuss cases we've dealt with. >> not specific cases, but any legal prohibition assuming its land, having as people tried before in article iii court that ey committed a crime against the united states or cram aboard being trained by u.s. military commission? >> not to my knowledge. >> thank you. i think senatora.would be next. >> thank you by mr. chairman. wanted to follow-up general allen on the question of detention. we were to, for example capture someone like i'm in also was yuri and yemen outside of afghanistan, for example, could we detain and at that detention facilities bear? >> we would not recommend that. >> why is that? >> afghanistan is a sovereign country. >> so we're not going to use

and so what you saw was in 2007 you saw in e-mail files institutions, bear was ignoring it, merrill, stan o'neal didn't even realize the size of the exposures he had until he was in hot water where goldman and others who still many of them had problems were quickly trying to offload what they had as remaining risk as quickly as they could. so those instruments, the murkiness, the leverage, the nontransparency, the inability of regulators to even look into a cdo because they weren't qualified institutional buyiers with the right to are very central to the crisis. >> well, i this i you've explained why -- i think you've explained why there were severe temptations presented to those corporate executives, but you haven't explained why they yielded to those temptations. after all, they play today make money -- >> [inaudible conversations] >> >> well, that line of argument is, i think, another missing line of argument. the question is alan greenspan famously commented on this, can you trust the executives of these institutions to have the interests of the institutions as such at heart? bec

it is very labor intensive the area is known for merrill and cooperations. it is a part of his patrol.. >> even though they're not searching today, i asked if the element of time did the suspects time to get away, he said yes there is a good chance they're not there anymore but they still need to go there to shut down the alleged operation. once they begin searching will be a team effort which is why they cannot do it themselves. they have to work with more of a police, the chp and other resources. he admitted later that it probably will not happen today. >> other stories, a richmond teenager back home after a survival training trip was cut short by a bear attack. victor martin of richmond was with the room when the bear attacked. the teenagers were crossing a river about 100 mi. north of anchorage, alaska. he was third in line of 7-if walking on the trail when they came across the grizzly bear. alaska state troopers believe the bear was with a cub. he sustained a new- line wound on his ankle, another victim is in an enriched possible right now and says he d

but merrill lynch coming out and saying that they don't see a deal getting done right now.t shutdown for about a week, they expect a ratings down grade. a lot of other people saying they expect a ratings downgrade because they just don't like what they're seeing in washington. >> and tell us about this gdp report. how concerned should we be? >> the gdp report was weak and it add as wrinkle to this whole thing because does it mean that you cannot messing up the debt ceiling and having an immediate cut back this government spending that would hurt a very weak economy and make it weaker? the first quarter of the year, we've learned that the economy only grew 0.4%. that is not good at all. there you can see a bar chart, shows you thedepths of the recession on the left. and the last two bars, 0.4% first quarter of the year, second bar, 1.3% was the growth in the second quarter. that is not good enough to lower the unemployment rate. that is not good enough to show an economy that is finding it footing. very worrisome. especially if you're talking about a quick pull back in good