culture from an acquisition, from where they came from, whether legacy, west coast bank of america or merrill lynch or whatever to a company sat only about organic growth, a simple, more narrow company where every day we get up and say we have customers and clients and how do we do a better i don't know in is. >> is that wholly different? >> no. >> but it takes away a lot of stuff that was going on an replaced with it with stuff that is really good. >> and the core value you have is what? >> the core value we provide our clients is to help them live their financial lives better is our purpose, by connecting together all of these things, it has taken 2:30 years to put together and we have been in business our earliest predecessor to 1784 so we have accumulated all of this to make lives better for em, whether a person starting their first job to you, as after friewnt customer to a small business own tore a big business owner to a hedge fund manager or trader, our job so to help them live their lives and by connecting together all the pieces that is what makes us unique not that we have all of t

i mean, if you and i went to visit, you know, a merrill lynch office or branch or even a a corporate business banking officer or corporate banking officer, to see what they think he can do and they can do for the clients is terrific. a and all we have to do is keep the things out of the way for as long as possible. >> rose: arnold buffett told me this story i am name dropping and asked you about it and said i could tell this story, he said to me that -- what is his positionn thba now? >> h had a $5 billion preferred investment, which in about warren to acquire 700 million share,. >> as he tells the story, he was at home in the bathtub and thought about it and he thought he knew something about banks and balance sheets and always been pass nateed by bank of america, and was thinking about the bank and decided that what confidence would do for the bank at that time was confidence that the bank deserved. >> right. >> so he decides to place a call to you and didn't reach you right away. >> yes. >> .. and he told yo -- and so the then he didn't reach you right away and he reaches you and

merrill streep a big fan of it. it was awesome going to china. it was amazing. they really take it in. they really loved it. meryl streep she learned bug jumper, too. >> stephen: what is bug jumper 2? >> no, too. you want to try it. >> stephen: i'll try it. what is it? >> let me show you. this is beginner bug jump. it's like you think knee up. you want your chest to meet your knee. not too much you know but one, two, three, four and that's it. >> stephen: one, two, three four. >> amazing! [cheers and applause] >> now ooze your hands like puppet masters and these are your puppets. go one, two, throw, four. >> stephen: one, two, three, four. [cheers and applause] >> all right. now do you it. now you can do it. >> stephen: did you do something for us? >> absolutely! >> stephen: listen. we'll be right back for a accompanied by jason yang, lil buck. [cheers and applause] ♪

as the surviving spouse, she was unable to claim a merrill tax deduction. it bars the federal government from recognizing same-sex marriages. advocates will argue that the law is unconstitutional. new york who treats all marriages equally. >> of the freedom to marry is a question that he's to be addressed. peoplerong to exclude for marriage, and america is ready for the supreme court to do the right then. insuring a ban on the far constitutions. they say it should not be the final arbiter. >> the reality is that it is not inevitable. >> same-sex couples should be able to get married. >> they won the cabo -- gay vote by 3 to 1. >> they are full and equal citizens. that includes marriage. for days been forming now, the spectators will be witnesses to arguments that could set a landmark in the civil rights history. >> a test flight for the 7873 minor went according to plan. worldwide standards, fleets have been granted -- is grounded since january. the sinking of the naval vessel, they say that is what is killed in the attack carried out by north korea. cemete

. >> so this is the tower design from skid, and merrill, they liked this design and an elegant looking tower, sleek and a residential feel to it. those are balconies that you see there on each of the sections. and as well, they had a great site plan with town houses, on cleminetna street, on the upper side of the block. and you can see a ground floor open space that actually is going to be publicly accessible that would connect follow so many to cleminetne street and there will be amenities for the residents on the ground floor also as well as podium level decks. >> could you point where the retail collecting on cleminetina is on there? >> could i point with this? >> retail is along here. >> okay. >> do you see that? >> yeah. >> this, yeah, that pointer works. so where bob is pointing that is the open space connection. >> i see. maybe you could see it if i do this. this is open space right here. >> and the town houses? >> thank you. >> they are right there. >> in the northwest corner of the parcel? >> that is an existing project residential project, a private development. >> with a bit

if you are merrill lynch, you send your order flows -- liz: why would i go through barclays versus the new york stock exchange? >> well, it depends on who you are. if you are you, you are going to the new york stock exchange, and you're getting whatever price they print. but if you're a big institution investor, you don't want anybody to know you're trading. so guess what? you send it to credit suisse and guess what? who knows what price they are charging. maybe it is better than what we're getting because not everybody -- it's not sent to one place. this is the problem with the competitiveness of this market. yes, there is a competitive market. there is exchanges -- dark pools are on exchange, they are competing against -- with the new york stock exchange and the nasdaq. the problem is, they are not regulated the same. the new york stock exchange and nasdaq publish prices. where is the goldman sachs dark pool price for apple? where's the credit suisse? they are the number one. we don't know. and that, you know -- let's face it, that means there's lack of transparency in the markets. i

economist at bank of america merrill lynch global research.o see you. >> nice to be here, melissa. >> should we dismiss this number in your view? do you agree with brian? >> i think it's a fair debate. and frankly, we were quite surprised by the strength of the report. we were looking at the head winds that the consumer was facing which was delay tax refunds. higher gasoline prices, poor weather conditions and, of course, the lagged impact of higher tax in january. we were looking for a weak report and we were surprised by it. whenever you look at the seasonally adjusted versus the not seasonally adjusted, maybe we'll get a revision. but i think to me what it tells us is something a bit more fundamental about the consumer which is the tail winds are maybe a little stronger than we had thought, which is healthier laboring because job growth has done better. wealth appreciation which is helping to boost consumer confidence. the consumer's still in a challenging place, but receiving some cushion from the labor market. >> how can economists be so

here's a view from ethan harris at bank of america merrill lynch global research. >> certainly improvementsn the job market very important to confidence in the economy. and spending. and we think that the recent improvement in the stock market is likely to continue over the course of this year. the median term outlook for the u.s. economy is quite good and we certainly expect steady growth over the next couple years. we are going to have kind of a rough patch in the second quarter. we had significant tax increases in the united states. we've also had the spending cuts, many of which will kick in in april. and these will impact employment reports. we wouldn't be surprised if in the april, may, and june reports we get very soft numbers instead of the 200,000 gains we've experienced in recent months. we wouldn't be surprised to see numbers of below 100,000 as government agencies pull back on their contractors. >>> japanese leaders want their u.s. counterparts to understand how they're trying to grow their economy. finance minister taro aso called the new u.s. treasury secretary jack lew to say

million dollars to its investment bank head andre or sold to lure him from a competitor bank of america merrill lynch and this takes place and growing pressure on the european investment banks to cap their bonus payments to top executives that said the political has all the details j.p. morgan c.e.o. jamie diamond got twenty two million dollars last year the highest among american bankers mike rieves from stand their chartered earned more than thirteen million dollars the most for european bankers however their salaries pale in comparison to those in food bowl where lionel massey and david beckham's earnings topped fourteen million dollars in fact star player fell or is have grown more than fifteen times over the last two decades while most of the globe is tightening its belt the two market worlds of bankers and football players seem swollen with growing bonuses bunkers get too much money for the value. to society it seems to me to be wrong bankers get so much money. my job i think is wrong with footballers because so much money. but after all what does a footballer do to society you know to ge

administration larry speaks, who resigned from the white house in good graces in 1987 went to a big job at merrill-lynch up at wall street and then wrote a book the following here 1988 says he fabricated the grand total of two quotes. and no one knew he was going to publish the book and fired within a week of his big job on wall street because of two quotes. seems as if robert gibbs was at least fabricating the truth for lack of a better phrase, for two years. >> i don't think he was fabricating, he just didn't tell all the truth. maybe they were saving the-- >> now he gave it away now by saying he was told not to do it. >> maybe they were saving the secrets to be leaked to the new york times or wikileaks. >> well, the issue is now they tell us. now he tells us that he's gone over to the other side, i'm not going to call it the dark side, but you kn, this is a guy who's joined msnbc and he wants to make some news and demonstrate his distance from the white house, so the way you do this is to say something that was obvious, that is that he was not going to talk about it. >> what is the benefit of him say

county administrator mike ad merrill said the rescue was no longer possible. >> with all the equipment we lo brought in and specialized help,elp, we just have not been able to n locate mr. bush. and so for that reason, the rescue effort is being discontinued. >> the bedroom floor just bedro collapsed and my brother-in-law is in there. he's underneath the house. t >> reporter: frantic family members called 911 thursday night. a sinkhole had opened up directly under a man's bed. >> they rushed in. under all they could see was part of a mattress sticking out of the hole. essentially the floor of that room had opened up.hat >> reporter: swallowed up in theter: dirt and rock, 36-year-old jeff bush. his brother, jeremy, tried to y save him.er >> i jumped in the hole and sa tried digging him out, and i couldn't get him. digg all i could hear-- i thought i ge could hear him screaming for me and hollering for me to help him. an >> reporter: sinkholes are more common in florida than any other >> reporte state. than more than 200 were recorded last year, yet fatalities are rare. they form when wa

he worked at merrill lynch 15 years where he developed his management skills and later left corporate life to pursue his calling in pastoral ministry. he leaves behind to cherish his memory his best friend and his loving wife tamara hall man jackson, his parents of washington, d.c., and ruth jackson, also affectionately known as polly. she's a leader right here in our own visitacion valley community. he left behind four brothers, brian, drew, james, and lorenzo and one brother-in-law, raphael who resides in hollywood, california. so, please join me in lifting up our dear friend and sister ruth jackson as she mourns the loss of one of her children. on another note, another sad note, i also want to lift up another mother of the bayview community that has lost her son. many of you know ms. espinola jackson. she recently lost her daughter to a battle of cancer. ms. yvonne jackson harris was born february 9, 1956. she attended san francisco public schools and in the fourth grade she had already mastered algebra. she, too, was a graduate of wood drone wilson but from the class of 1973. she

some of their legacy data so they could be accessed by private clients were jewish bank alex brown merrill lynch marshall mcluhan companies some of the largest brokerages insurance companies reinsurance companies in the world and then all of that out after nine eleven these companies are fraudulent lee you know involved in all sorts of insider trading the nine eleven continued to kind of rape and pillage for many many years afterwards and when you look at the financial data who was making money on that day who had the knowledge it does not lead you back to the official tenets of the official story so it begs one the ask some questions and actually consider what is the relevant data that we have to make this decision with and let's not neglect any relevant aspects and even in the investigation richard i remember government officials saying it's not relevant who was who had for knowledge to bet on the stock options because it's not arabs and that's even more interesting i mean the fact that rich white bankers were betting that the stock sort of fell and for all of the attacks really interest

ethan harris is an economist with bank of make, merrill lynch. do you think this is a blip? >> i think things will get weaker in the spring as we have to deal with the budget tightening in washington but this is a good sign that the underlying private sector is healthy >> reporter: i but 12 million americans are still out of work. >> hello. >> reporter: 57-year-old barbara johnson is one of them. >> i sometimes stay on the computer 24 hours straight just applying for everything. >> reporter: laid off from her job as an administrative assistant with a new york bank before the recession. johnson has survived only by taking a series of part-time jobs. are you any more optimistic with the slight improvement this the job market? >> i'm hopeful but not excited. i want to see america get back on its feet again. i would like to be back in a full-time job again, with benefits. >> reporter: if you include people can only find part-time work and discourage workers who've given up looking the underemployment rate, scott, swells to 14.3%. >> pelley: and that's about 22 million americans

vo:t the play revolves around neddy merril and the community he lives in called 'shady hills,' and itto their minds to see just what happens behind closed doors. theater minor devin smith is also part of the cast and says that the uniqueness of the show ties it all together well. sot:[ "the way it was choreographed is very interesting. it's very vibrant and lively and it's fast-paced." even though this show has never been performed before...cast and crew have high hopes for its success. sot:[ "i think, by the end of it, we're all going to really get it down and it's going to be a great show."" the play opened on march 14th and will be running march 19th... 20th and 21st... at 7 p.m. in the university theater. art, music, food, clothes--and even clothing for dogs! all of these could be seen, and purchased, at s-j-s-u's art and dine festival in front of macquarrie hall on wednesday. the festival consists mainly of student vendors promoting their artwork and original creations. ááá ">>>this is my first year, they asked me to come sell my artwork and just display so i think its good, defi

wells fargo, bank of america and merrill lynch think it is a by opportunity.of america and merrill lynch oracle weakness is a buying opportunity. back to you. connell: thank you very much, nicole. the first man ever seven years ago, he has more than 2.2 million followers. dagen: i was close. bring it, people. more good news from the housing market. coming up, we have the ceo of dirk shirer hathaway. he will be talking all about it. connell: taking over the mobile industry. we will have that coming up a little later on from shibani joshi. first, let's take a look at world currencies. let's see how everyone else is faring against the dollar. we will be right back with much more on "markets now." ♪ ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. reques

from his native land" randall robinson writes i tried to love america, its places, it's well ordered merrill, its surplus efforts, but i could not love the place. i could not love a thing. no one in good health can. imagine a world of material wealth devoid of people. what is to love? nothing. i tried to love america, its people, the dominant majority, their depiction of me, their treatment of mind. i tried to love america but america was not the ancient african whole of me. i came to note too much of her work. i tried to love america, its credos, ideals, its process that these things could mean no more to me than they had to had conceived them, written them, recited them and ultimately betrayed them. then i stopped trying to love america. i'm not despair at the moment for with it has come a measure of an expected contentment that settled upon me like an ancient ancestor ceremonial robe, warm and splendid and as old as time, mislaid but valued all the more for its belated retrieval. randall robinson, thank you for being on "in depth". >> guest: thank you for having me. >> you are watching bo

cash vangon from bank of america merrill lynch global research. all this information out there, but what are companies doing in terms of mining it? >> there's a lot of comparative intelligence to be gleaned from it. the way you look at big data is if you're not using big data analytical technologies, you're probably a loser. this is one of the biggest deals, biggest revolutions that have happened in the software industry. >> give us an example. >> if you're in oil and gas, geophysical exploration, you collect all the information to where oil could be. to be able to synthesize it and pinpoint with accuracy where am i going to place the drill to ensure a high degree of discuss, that's one example. >> how recent is this? we know companies have been trying to do stuff like this for a long time, but is it the computer databases haven't been there for a long time? >> we've always had big databases. but what we were missing is the sequence that intk you as a consumer. the data that you generate with your smartphones, that has not been captured the. the f

and now on to mike merrill, the hillsborough county administrator who also joins us on the phone. mike, are you there? >> yes, i am. >> judge jeanine: thanks for being with us this evening. you are overseeing this and you gone from rescue to recovery and now to demolition. why? >> it has been a very unusual event. this is not the typical sinkhole that we have seen and the experts that we have had under contract working with us who have seen a number, thousands of sinkholes have also said that this is very unusual. it is wide-ranging. it is very unstable and even the presence equipment that could other wise be used to could some rescue work we had fear that it would cause the sinkhole to expand even further. >> judge jeanine: just for one second, you said the engineers that you have under contract. by saying that, are you saying this is the kind of thing that you see so oust than you have to have -- so often that you have to have engineers on duty here? >> not necessarily just for is sinkholes but our fire rescue department has under contract engineering, structural engineering fir

we have head of fx at bank of america merrill lynch. great to see you today.st mentioned italy. yields are moving up. euro under pressure today. how relevant is europe to the u.s. trade? >> well, i think before all is said and done it will be relevant. in the near term u.s. markets have been resilient to what's been a pretty decent turn in trend for european peripheral debt but so far u.s. equities have held their ground well in fact. they have been quite strong. so as of right now, no, they are not really playing on much of an effect on u.s. markets. >> i think what a lot of people are trying to figure out is the dollar's role in this. when you look at the charts, what is it telling you? is the dollar strengthening here? a warning sign? >> the most interesting thing is we have seen a breakdown in the correlation between the dollar and the traditional risk off/risk on regimes that have been prevalent since 2007, 2008, where the dollar is moving higher very much on the background or in the backdrop of risk taking in the u.s. even though there are signs of risk

the asset management through merrill lynch is going very well.mpany with great long-term prospects in a number of different business areas and it's relatively cheap. aig, the underlying insurance businesses were kept in tact through the financial crisis, and i think there's a lot of operating leverage there. as brett mentioned, is just starting to get realized. those would be my two bigger bets. i think some of the other names, there's other, better players. >> what do they say? every slug has its day. michael, brent, thank you very much for joining us. let's send it straight over to courtney reagan with a quick market flash. what are you looking at, court. >> take a look at shares of diamond foods. shares down more than 10%. basically, the company report earrings that were very disappointing, getting a downgrade from d.a. davidson. and now this short s.e.a.l. restriction has been triggered. you can see your shares is down 10.4%. mandy, back over to you. >> courtney, thank you so much. >>> coming up next, a special stat for the cat in the hat. >>

last niam is merrill, m-e-r-r-i-l-l. >> first name? >> michael.l. thank you. >> good evening, everyone. i'm ron rojdz. i'm the fire chief for hillsboro county fire and rescue. the information that we have in addition to what mr. merrill shared with you, as he said, we're still trying to define the scope of this cavern that's under the ground here. we're trying to determine what, if anything, we can do to try and get into the structure or determine whether we can even enter the structure or do anything with it. at this point, as the engineers will share with you in a few moments, this is a very complex situation. it's a very complex collapse. it's continuing to evolve. meaning the ground is continuing to collapse. they can't give us any answers right now on when we can get in there and if we can get in there. i do want to share with you, we have the deputy here tonight that was the one that went in and rescued the brother who was attempting to rescue mr. bush. i do want to bring up deputy duvall. >> my name's douglas duvall with the hillsborough co

morgan stanley, merrill lynch, smith barney, they don't have this cachet they used to have and as moree into the market, they're going to be more apt to go to a smaller, regional name. >> paul, thanks for stopping by. we'll talk transports now because the dow transports continue to make record highs with the big part of that being the performance of the airline stocks. there's heavy call activity in one stock in particular. what were you watching? >> yeah, i was looking at lcc. us airways. this is a company that is in the process of trying to merge with american airlines. the airlines have typically not earned their cost of camepital t this suggests they might be able to get some under control. only two weeks ago, up about 25%. paying $1.10 for those. >> coming up next, it is the biggest week so far this year for i p pos. a look at the potential winners and losers and later on fast money madness, we are feature i inging the most talked about stocks in the market and you weigh in as a fifth trader. back right after this. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ m

the in mississippi the fbi is watching the investigation into a murder of a young african-american merrillalte to see if hate crimes should be brought. the 33-year-old hair co- co-mcmillian was beaten and burned and his body was discovered february 27th. but this isn't just a murder of aspiring black politician. mcmillian was openly gay. the for the latest on the investigation let's turn to clarion-ledger emily le coz, who johns us from jackson mississippi, where she's covering this investigation. welcome to the war room. >> thank you so much. >> michael: what is the latest on the fbi's involvement in this case emily? >> well, i spoke with their spokesperson, and they said the fbi has been monitoring that case since about march 1st. and just making sure that they can be of assistance any time the local sheriff department needs them. they also said that they will be reviewing all the evidence in the case, and making a determination at this point whether or not it rises to the level of a hate crime. >> michael: in talking about these hate crimes, mississippi reported only one hate crime in all

john weiner, and john merrill. good to see you, gentlemen. john, first to you, there is still the case there is no place like u.s. equities right now to invest in. one thing it is the only consistently upward mobile index that we have to bet in. secondly you get the dividends from stocks like j&j but you see a change in market leadership that you have pointed out and you think is very significant. that is those sectors leaders are beginning to change shapes somewhat. how is that affecting the market and how should that affect your portfolio? >> i think you have to start with the fact that this bull market, cyclical market is four years old. it had a blastoff stage the first two years which were led by explosive earnings and obviously earnings actually went up higher than market prices. so kept p-e ratios down and it kept valuations intact. but in the last 12 to 18 months you had a little bit of a change. the earnings have slowed down but the market prices continue to go up. that put pressure on p-e ratios which have risen to 18 times trailing

bank of america, merrill, under one roof.-- if i get this right, $4 billion worth of bonds, collecting $474 million worth of fees, what the hell did the bankers tell the investors? how do you sell a city going downhill for 50 years as governor snyder just said? >> well, you know, larry, the good thing about this question was i wasn't here. i was safely ensconced in my practice, and quite frankly, i'm not interested what happened behind me. i'm looking forward, the reality is, bankers are remarkably sophisticated folks, they know the numbers, see the cash flow. other numbers at place, regarding efficiencies, realization, profitability, and other city services and as long as there is a net benefit to the city that might be able to get rationalized, cashiering, collecting more efficiently. a lot of opportunities short of breaking contracts and blaming the bankers. they to be perfectly honest about it, everything on the table, including debt service. >> you got it, sir. they hustled everybody with lousy credit, and people can see

stocks have held up pretty well, but b of a merrill lynch believes that's a mistake.te, sequestration is not priced in. longer term, cowan & company predict lockheed martin could see cuts to future order ps for the f-35 and the little combat ship. north korea, though, is making threats and crt capital report says beefing up missile defense in alaska could benefit orbital sciences. that's your q2 channel check for defense. >> oh, there you are live, jane. >> there i am. >> wow, the magic of tv. >> i changed my clothes like that. >> very nice outfit, jane. i've got to ask you because the last durable goods report that came out, 68% rise in defense spending because a lot of orders were put in just jammed through the pipeline. is that simply pull through from the rest of the year? and doesn't it balance out so they get the revenues? it's just earlier than expected? >> you know what? that's hard to say, melissa. only because the last quarter's earnings really surprised the street. and already everybody was factoring in a sequestration, defense cuts and all this. and yet th

pension funds, for example, which really favored fixed-income investments, according to research from merrills. some of forays into commodities have not worked well, not shown yield, and equities to many of these managers have felt simply too risky, perhaps until now. with the s&p up more than 9% year old to day and potentially closes, market participants are asking when will they rotate into stocks in an effort to capture that greater yield. with interest rates still near 0, and the fed planning to stay the course, there's little reward for saving and waiting much longer on equities risks missing it all together. but if the bond bears are right and credit experience is a big lag down in the next 18 to 24 months, it could prove a smart play, sue and tyler, and a way to create new yield at a time when it's tough to do that with bonds. >> indeed. kate, thank you very much. >>> the battle for dell turning into a real hough life emso the of a game of throne, with possible alliances being created left and right. the latest is from carl icahn and blackstone. that's the question we're posing, answer

. >> speaking of bulls, i'm holding this thing for merrill, talking about caterpillar.s down 13% in the three months ended february. that that's not good. >> that's not good. you look at what's going on in china and what's the real story in china? the u.s. data seems to be getting better. some of the economic data in other parts of the world maybe not as good. i think there he's reason to have caution. when you look at the financiafi, when you look at what's going on in the big pharma names that's a sector that's moving higher. people feel some safety there. but not only safety they look at the valuations. that i love the yields they're getting there and i think there are names like merck that have underperformed the rest that can outperform and get to the next level. >> i think a big important point here, staples has been a favored sector over the last years. they're much too high with having a similar dividend and yield. if you look at the stocks like general mills today or proctor and gamble, i would stay out of those. >> if you go back to caterpillar, if you do get

the brentwood school board fired merrill grand last night after a 4-1 vote. it's more fallout from how the district handled the case of dina holder, the special education teacher convicted of kicking 5-year-old autistic student in 2010 but allowed to continue teaching. >>> the obama administration came out strongly today against california's same-sex marriage ban by urging the u.s. supreme court to overturn it. with the deadline looming, the justice department filed a legal brief challenging prop 8 on equal protection grounds. the high court is reviewing last year's appellate ruling that the ban is unconstitutional. the justices will hear arguments next month and rule by june. >>> there is only one day left before $85 billion in forced federal spending cuts. the deadline is 11:59 friday night. and there's no indication members of congress will beat the buzzer. in a last-ditch effort, both parties offered up their own senate bills today to replace the multi-billion-dollar cuts with alternatives. but democrats wanted tax hikes on the wealthy. republicans didn't

merrill lirchl has done good research on that. there's an indication that people are starting to turn toward equities. would think they should with the s&p up 9%. at the same time, though, there's much more room for that money to rotate out and into a asset class. when it happens, we could see some buoyance. >> yeah, we saw the s&p negative as we came on the air go positive. it's not a huge move obviously, but nonetheless moving into positive territory, perhaps on the bullish comments related to what david tepper apparently thinks about where we could go. the s&p 500 is now up half a point after being negative again. take a look at the dow here as well we've had eight-straight days trying to work on a ninth. it is looking, the market that is, the dow, for its best performance from a point perspective in a single quarter. a couple weeks to go, we know that more points to go to reach that level. but nonetheless, it's been an obviously good run for stocks, and, david tepper thinks that it could be an even bigger run ahead. so he thin

the only argument i had about the kodak sign and merrill lynch booth was money. as i took it out, fuji comes in and they want to take the space. and we said no we're not going to do that. it was a financial issue in certain respects but i think it paid for itself over time. >> rose: paul goldberger wrote the real brilliance of the place is the way in which it confirms of the virtues of the urban ensemble. penn station was built mainly to send a message about the spleppeddor or arrival, grand central was to make clear the choreography of connection. does that resonate with you? >> i think absolutely. from buying food at the food market, to buying pens to write with, to bookstores because you can-- even though the train hurries you up for a schedule, it also slows you down. the train is not leaving for 30 minutes. of course one of the great things about grand central that hasn't been remarked on, the new penn station and the the old one didn't have as many traction. there are 40-something tracks on one level, and another 20, so there are 60-some-odd railroad tracti

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savita is with b of a merrill lynch. always good to see you. >> great to see you, too.es don't always hang on, so how does it play out in your view? >> essentially, we see economic growth recover in the second half of the year and we get to a better place. i'm actually surprised that the market hasn't hit, that the s&p 500 hasn't hit a new high at this point and what i always go back to is earnings and we actually managed to grow earnings consistently since 2010. earnings have continued to hit new highs for the corporate sector. so it's almost surprising that we haven't hit a new high on the market. >> why do you think that is? are there particular sectors where you think the performance isn't as strong as you would have thought by now and does make it a concern about your 1600 target? >> i think there are a couple of things going and i think there's skepticism about the strength and the longevity of this rally and the most kind of common worry that i hear is if you buy here there could be a better entry point, and if we do see a pullback. so it doesn't feel good to buy