mr campbell japan clearly doesn't want investors to flee but do you agree with warren buffett but they should be moving towards japan. it's difficult not to agree with someone like warren buffett who of course just recently said that the declines in japan present a buying opportunity and both. the move that we saw was over done cory's often financial markets to react to situations like this and to the selling was compounded by fear of a desperate economic catastrophe which for now seemed to have possibly been avoided we're not completely out of the woods here and serve course at some. we could get a japanese stocks were way oversold them already the japanese are on a public holiday today but we expect that certainly the futures markets indicate that the mikhail will rise some three hundred fifty points from the open say over three and a half percent and it goes to show you that the reaction was overdone so of course it is correct to these levels it does present a lot of value considering where we were weeks ago and just how much has been taken off the value of stocks of. this to come o

mr. campbell from the public utilities commission. >> my name is mike campbell, i am director of the clean power sf program. i will give a quick update on the programs and the next steps. i outlined our approach moving forward and the success that we had as the starting point for our negotiations and getting a power supply contract. i am really excited that we are starting to move forward here. we can give san franciscans and ability to choose a supplier. we have begun preliminary discussions, and shell is the supplier. in additio. in addition, we are starting negotiations with energy solutions, the back-office support. there is data communication between us in terms of kilowatt hours. those conversations are underway. on a parallel track, we're starting to figure out how to roll hall for the procurement of development of a new generation services. and having that dovetail well with the special supplier. for the development of resources, we will look to the existing city policy in determining the preference for various types of resources with a clear preference. we will be sure that they s

mrs. campbell also is a nurse at general hospital and served our city and county. thank you for your service as well. [applause] >> i have declared loud so i did not get into trouble. -- i have to clap loud so i do not get into trouble. supervisor chiu: thank you, and congratulations. good to see you both. why don't we go back to general public comment? if our next speaker could please step up to the microphone. >> good evening, ladies and gentlemen. [inaudible] there is no way in hell i could relate the information in two minutes or three minutes. on wednesday next week, and having a meeting. we are having an important meeting with a special guest, fred black will. to explain to us the past, the present, and the uncertain future of the redevelopment agency as it relates to the african-americans here in san francisco. because -- ♪ blacks are leaving this town what's going on? blacks are leaving this town ♪ and you know what? it is not just in this town. it is all over the united states. ♪ blacks are leaving this town where is governor willie brown i'm going to have

mr. campbell and mcduffy found financing for the first building now known as five thomas millen circle. from the beginning it was our desire to change the visual entryway to the city with ample landscaping around the office buildings. i sought out the advice of a forester i knew to address the issue of softening the hard cuts on the upper hill and he planted native vegetation and 35 years later most but not all of the area is covered. by the mid 2000's, the market for office area in the area was beginning to move south. by 2005 the land use attorney and architect and i met with the director to discuss the possibility of changing the use from office to residential. they encouraged us to proceed. the community remains supportive of this change. i wanted to suppress all the planning decisions at executive park have been done in consultation with the neighborhoods. we will continue our legacy of community involvement throughout the building of the project. i am confident with the work already in progress, we will build this into a project to make up a san francisco san franciscoans proud. t

mrs. campbell also is a nurse at general hospital and served our city and county. thank you for your service as well. [applause] >> i have declared loud so i did not get into trouble. -- i have to clap loud so i do not get into trouble

out what might happen next let's now cross why with all that under both the london capital group mr campbell thank you very much indeed for the time so what can ross now b.p. do to make this deal go three. well there is every possibility that the deal could become unstuck and certainly the share price for flex that started over one percent to the downside earlier today and has recovered to finish up nearly three quarters of a percent oh yeah and expectations are for some sort of resolution it's just a real shame that we've actually come to this we're in the situation but there are a number of ways that. you could look at this you could see. k. become. a shareholder maybe get a deal directly with them but it's a bit unlikely g.g. the contention between t.k. t.n. k. and wells after all there could be no deal tool some sort of out of court settlement but certainly the. b.p. bob dudley is working hard ensure that the share swap goes ahead say. that it's would certainly be a first step and some way to. the younger shareholders. and then look at the expiration down the line and. this will now take

mr. gregory campbell. >> the armed forces have our total support and admiration. traditionally, they would have looked into a conservative government, whether in good economic times or bad, to defend them as they defend us. given the deplorable treatment that they are currently receiving, whether by email or by hard copy, what plans does he have to restore faith in the government? >> what i would say to the honorable gentleman, i think everyone in the house appreciates that our armed forces are among the most break and professional anywhere in the world, and we can be incredibly proud of what they do, and in terms of making sure that we do look after them, this government has introduced a doubling of the operational allowance for all those serving in afghanistan. we are the first government in the history to introduce a pupil premium so that the children of service personnel get extra money when they go to school. we are making sure that the rest and recuperation lead is properly formed, and we are writing out, the military covenant and properly referencing it in

mr. campbell from california. >> thank you. rather than ask you about the consequences of the actions that you and the federal reserve are taking, i will ask you about the consequences of the inaction that we, congress, are doing relative to our fiscal problem. they all alluded to some of your prior comments relative to our fiscal trajectory. what if we don't act? what if you do not set any long- term sustainable policy or production? what if we run up a $1.50 trillion this year and $1.60 trillion next year and north of one trillion dollars. it would be close to $5 trillion in deficit over the next six months. what impact does that have on jobs, the economy, on interest- rate, on everything? >> it is hard to know exactly what the timing would be. we do know that eventually lenders would decide that the united states was not a good credit risk and interest-rate would spike. that would slow the recovery or slow the economy. it would great financial stress for not only holders of treasuries, but holders of other fixed-income asset

mr. campbell from california. >> thank you. rather than ask you about the consequences of the actions that you and the federal reserve are taking, i will ask you about the consequences of the inaction that we, congress, are doing relative to our fiscal problem. they all alluded to some of your prior comments relative to our fiscal trajectory. what if we don't act? what if you do not set any long- term sustainable policy or production? what if we run up a $1.50 trillion this year and $1.60 trillion next year and north of one trillion dollars. it would be close to $5 trillion in deficit over the next six months. what impact does that have on jobs, the economy, on interest- rate, on everything? >> it is hard to know exactly what the timing would be. we do know that eventually lenders would decide that the united states was not a good credit risk and interest-rate would spike. that would slow the recovery or slow the economy. it would great financial stress for not only holders of treasuries, but holders of other fixed-income asset

mr. campbell: mr.peaker, i object to the vote on the grounds a quorum is not present and make a point of order a quorum is not present. the speaker: pursuant to clause 8 of rule 20, further proceedings on this question are postponed. the pledge of allegiance today will be led by the gentleman from texas, mr. burgess. mr. burgess: please join me in the pledge to our flag and country. i pledge allegiance to the flag of the united states of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. the speaker: the chair will entertain requests for one-minute speeches. for what purpose does the gentleman from texas rise? mr. burgess: i ask permission to rise and address the house for one minute, revise and extend my remarks. the speaker: without objection. mr. burgess: mr. speaker, we are coming up on the one year anniversary passage of the patient protection affordable care act. president obama during the 2008 presidential campaign repeatedly pro

mr. campbell. >> thank you, mr. chairman. thank you, chairman bernanke. rather than ask you about the consequences of the actions you in the federal reserve are taking, i'll ask about the consequences of the inaction that we, congress are doing relative to -- relative to our fiscal problem. the chairman, vice chairman all alluded to some of your prior comments relative to our fiscal trajectory. what if we don't act? what if we don't set any long-term sustainable policy or projection? and that we run up a $1.5 trillion deficit, $1 ppt 6 trillion next year, as estimated by the president, so somewhere close to $5 trillion in deficit in the next 36 months, what impact does that have on jobs, the economy, on interest rates, on everything? >> well, it's hard to know exactly what the timing would be. what we do know is that eventually lenders would decide that the united states wasn't a good credit risk and interest rates would spike and that would slow the recovery or slow the economy. it would create financial stress for not only holders of treasuries but hold

mr. campbell from california. >> thank you. rather than ask you about the consequences of the actions that you and the federal reserve are king, i will ask you about the consequences of the inaction that we, congress, are doing relative to our fiscal problem. they all alluded to some of your prior comments relative to our fiscal trajectory. what if we don't act? what if you do not set any lon term sustainable picy or production? what if we run up a $1.50 trillion this year and $1.60 trillion next year and north of one trillio dollars. it would be close to $5 trillion in deficit over the next six months. what impact does that have on jobs, the economy, on interest- rate, on everything? >> it is hard to know exactly what the timing would be. we do know that eventually lenders would decide that the united states was not a good credit risk and interest-rate would spike. that would slow the recovery or slow the economy. it would great financial stress for not only holders of treasuries, but holders of other fixed-income assets. it w

mr. chairman. >> thank you, senator campbell. we are going to have to close the statements there and turn directly to you, mr. secretary. specs before mr. chairman and ranking member hutcheson and members of the committee think for the opportunity to discuss president obama fy 2012 budget request and the department of transportation just a few weeks ago. president obama delivered a powerful message on the state of the union and said to win the future our citizens, companies and companies need the most reliable ways to move goods and information and reminded us if they build a they will come. they want business to open shop and high the families and friends and neighbors we have to invest the roadways, railways and runways. we have to invest in 21st century buses, streetcars and transit systems and invest in the next generation technology for our skies and sidewalks and bike paths that make the streets more livable. all of this is included in the president's 129,000,002,012 budget for the u.s. the board of transportation designed a

campbell's. it's amazing what soup can do. best seven years of my life. i know, dad. your comforter. okay. mr. cuddles... toilet paper?t. here, scott extra soft tissue. it's their softest roll ever. check out the pattern. it's softness done right. same soft rolls we use at home honey! one more thing, guys. oh nice a shoe rack! actually, it's a toilet paper rack. sweet. huh. huh. [ female announcer ] do you know scott? scott extra soft is softness, done right. >>> this morning on "today's consumer," bill shock. have you ever done a double take at a cell phone bill that was much higher than expected? if so, you're not alone. peter alexander has details. >> good morning to you. bills are no phone and these days everyone has a cell phone or a smartphone. it's likely happened to you or someone you know. you open up the bill and find it's into the hundreds, perhaps thousands of dollars. plenty of people are fired up including the f.c.c. it's enough to make your head spin. the cell phone company bills, pages and pages of them filled with charges nearly impossible to decipher. >> my mouth is gaping. i'm like, what? >> reporte

mr. president, we welcome you back to town. my friend and colleague harry reid, and are on a wreath today, bill frist. -- and our honoree today, bill frist. fort campbells the border of tennessee and kentucky. the post office is in tennessee, so weak claim it. -- so we claim it. but years ago there was a young soldier watching a live fire exercises and a soldier discharged his weapon and shot the division commander right in the chest. it was pretty clear pretty early that he was in trouble. got him on a helicopter, flew him down to nashville, where a young surgeon, bill frist, saved the life of general david petraeus. and so the influence and the good work of bill frist is far and wide. and it is fitting that we are here today to honor this good man. i want to welcome, as others have, the members of the frist family. it is indeed large. the lot has been said about this good man. i like to add just a brief word of my own. when you come across a man like bill frist, you cannot help but wonder, where does it all come from? nobody doubts that it takes a lot of natural talent to become a tough transplant surgeon. no one doubts that it takes a lot of hard wo

campbell. >> thank you, mr. speaker, the armed support. they would have looked to the conservative government whether in good economic times or bad to defend themselves as they defend us. given the deplorable treatment that they are currently receiving, whether by email or hard copy, what plans does he have to restore fear in government? >> approximate what i would say to the honorable gentleman -- i think everyone in the house appreciates it that our armed forces are the most brave and professional anywhere in the world and we can be incredibly proud of what they do. and in terms of making sure that we do look after them, this government has introduced a doubling of the operational allowances for all those serving in afghanistan. we're the first government in history to introduce a pupil premium so the children of service personnel get extra money when they go to school. we're making sure that their r & r leave is properly formed. with writing out the military covenant and properly references it in law. and above all, most importantly of