mr. larry ellison would it for himself. that is the test from my perspective, and those of you who follow the press, there is an interesting piece on the america's cup that the "sf weekly" had. the headline is the cup runneth over, where you have a major wave overrunning the city and county of san francisco. we want to make sure that we have a deal that is not only right for the city and county today but is also right for the city and county for generations to come. some of the property rights that are implicated here, that are being proposed, have the city making commitments on property and assets that, quite frankly, not only belong to us but belong to future generations of san franciscans, and we have an obligation to make sure that 10, 20, 30, 40 years from now, people are not going to look back at this deal and say, terrific what were they thinking back in 2012 -- and say, "what were they thinking back in 2012?" i think the recommendations made in this report are recommendations that should be adopted, beginning with f

indicating weekend negotiations with race organizers and defending team owner larry ellison were indeed in their 11th hour. >> mrlison, i was in conversation with him about an hour ago, and he's just as enthusiastic about getting this race started. >> reporter: but the clock was ticking. and getting started meant not getting turned down. >> these are things that we just don't have a certainty about. >> reporter: by the board of supervisors which in little more than 24 hours was going to vote on whether the city would host the race. jim lazarus with the chamber of commerce says the piers 30-32 renovation was a key make it or break it part of deal. >> oh, it will be easier to get it through because there was opposition as we usually hear in san francisco on land use issues. >> reporter: he feels by not giving ellison rights to renovate, develop and have 66 years of potential next from piers 30 and 32 the city is actually losing out on an improved waterfront but again, time tipped the scales because waterfront development is limited and expensive. >> i think they were hoping to put deals together on waterfront prop

larry ellison did. another option is that if mr. zuckerberg never sells his shares, he can avoid all income tax and then, on his death, pass on his shares to his heirs. when they sell them, they will be taxed ohm on any appreciation in value since his death. steve he jobs is a member of how this works. steve jobs never sold the shares. his wife will be taxed on the additional incremental value created post his death. so meredith compared zuckerberg to lady gaga. she's subject to the highest income rate. she's likely to pay $145 million in taxes this year. that's infinitely more than zumerberg will pay because of the taxes being based on the concept of relation. this is what is so interesting about the fees. miller is now arguing for a mark to market taxation system on the top 1% -- >> traes crazy. >> of -- >> it's crazy for a couple of reasons. first of all, okay, great, if you never sell anything and you never use it, then you don't have to pay the tax on it. which, okay, there aren't too many people out there who are actually goin