mark kiesel chief investment officer of global credit pimco joins me from newport beach, california.to see you again. >> good to see you. >> the united states is distancing itself from other major economies. is there anything domestically or geopolitically that can throw the u.s. off its stride? ask -- >> the u.s. looks pretty good and a lot of it is because the private sector is doing well with job creation, income growth, and a strong banking sector. everything seems to be going well in the u.s. interestingly enough just back from europe and clients are looking to put money into the u.s. market and the catalyst is global qe. mobile qe is compressing yields outside the u.s. down to zero and negative rates in places like europe and japan. -- global qe. they're looking to invest in the united states now. >> will week growth and developed markets, the strong dollar and global inflation and back -- in fact -- affect janet yellen and raising interest rates? >> we don't think so? -- we don't think so. they are looking at the labor market and hours are up and income growth is up and job gr

tony crescenzi executive vice president at pimco will join us from newport beach, california. u.s. homebuilders vote on fewer single family homes. the commerce department reported that housing starts declined 2% was month, falling just short of survey estimates. mark zandi is chief economist at moodys. welcome back. this retreat on housing starts, it was broad-based three or four regions in the u.s. all the kleins good what happened? >> there's a general upward trajectory. to go back to the teeth of the recession, 500,000 phones -- homes. it's going to move up and down and all around each month. the trajectory is positive. quick the u.s. labor market indicators are showing strength. isn't that supposed to underpin home sales question mark -- sales question mark -- a salesperson mark -- sales? >> the quality of the jobs are improving. i think the rate the labor market is getting to wage growth. >> the starts for single-family homes fell down nearly 8%. have builders concluded that there is more profit in constructing multifamily dwellings? >> there is profit in both. there's a lot o

very gusty winds into the southern sierra and scattered showers around newport beach.rnoon and evening hours. so definitely the possibility that the oscars may be getting a little wet. from our sutro tower we are looking at the clear skies the golden gate bridge. temperatures a little warmer due to all the wind mixing the warmer air to the surface. 57 half moon bay. mt. tam. the winds above 1,000 feet have been anywhere from 25 to 35 miles per hour. livermore at 55. north winds up to about 15 20 miles per hour. some areas no wind at all. 57 petaluma. the winds will increase throughout the day and here's where the numbers are warmer. from the north bay just a few degrees warmer east bay, and slightly cooler here. so the end result will be a cool er afternoon. compliments of the weather system to the east of us. by the delta, wind gusts of 37 miles per hour. no wind in hayward and san carlos. the wind picks up on the coast throughout the day. here's a look at the coast santa cruz, where it's nice and sunny. temperatures in the 60s there. the wind advisory. the north and

>> newport beach, california, is a prime spot to catch some waves or just spend the day lounging on the sand. but on the afternoon of august 3rd, 2011, a nightmare is unfolding below this idyllic beach. 17-year-old matt meena is trapped underneath six feet of sand when the hole he's digging collapses in on him. alerted by meena's cousins, lifeguards, including captain mike helfide, rush to his aid. >> when i first came on scene, we had two lifeguards digging and then four or five, matt's cousins and friends that he was with. at that point we started getting more volunteers. >> helfide organizes the group into three concentric circles surrounding the spot where meena was last seen. >> the first rescuers are inside moving sand, trying to locate the patient. the second ring takes the sand from the rescuers and move it further out. the third ring is to take the sand and disperse it further out. >> as word ripples out that a teenager is trapped, bystanders start converging on the scene and the crowd grows. >> i just saw a whole row of moms just on their hands and knees just digging as if it

brendan: so, virginie maisonneuve, you are flying from london to newport beach.are this week. we have a chart here from stephen follows that shows the cost, what it cost in terms of a campaign. what you have to pay as a studio to get an oscar. this seems really expensive. we are tipping up there around $8 million. peter cook, that is chump change from washington standards. peter: it is chump change, but it suggests that the politics of hollywood are not all that different from washington. if you will be legitimate as a candidate, you have to spend money to get your name out there. my question is, what do they get in return? if you get an oscar, what is the payoff? brendan: if you are a best actor winner, you can expect a $3.9 million salary increase. if you are a best actress winner, you can expect a $500,000 salary increase. erik: brendan it is time for the forex report. all of the attention is on the euro today. why? because the greeks are still trying to negotiate with the europeans. really it is with the germans over the future of the bailout program. we are

and you can see these down to newport beach.es, described yesterday's negotiations as positive and productive. we are told both sides are close on bay but the big issue as we reported before remains arbitration, the union yon wants to fire the arbitrator which according to the ap david miller but the union says he has been unfair to them in arbitration and basically is appointed for life. now they says usually 10% of goods from china go to the east coast. that is up to 30% at twice the cost and expect to see the word port in a lot of earnings reports. perry ellis blaming it for a shortfall and fourth quarter sales and eric garcetti says even if the thing ended today and everything was good it will take a long time to unclog the system. >> it's going to be 6 to weeks even when this is resolved to dig those boxes out. we have pretty much stopped exporting. imports are still coming in. that means our agriculture, that means that our raw materials that we're exporting out of the port of l.a. are not moving. >> reporter: now while so

host: newport beach, california republican line. caller: thank you for taking my call.ple of things that are kind of important to put into retrospect here. oyuthe president doesn't do everything publicly. he traded five people from guantanamo to get bowe bergdahl back. we got him back. we do not see the english cutting his off in the desert. the bottom line to the story is these people have no qualms about doing anything despicable in order to get some press. ok? you cannot let this go on. what has happened is we're doing exactly what we should not do. we should not have boots on the ground. everybody agrees with that. we should be doing something to stop them. we should be helping the kurds right now which of be helping them to take out the military aspect of isis. and it degrade them. if we can do that, we're going to get the guys. we have to go and get our hostages when we can get them. as much as you want to fault the president, i think is doing a pretty good job. host: on the page of usa today the headline story also includes reaction from congress who saw john mcc

lovely ladies in newport beach. what is the man standing on top of? coin film reel, or a star? signifies the five original branchs of the academy, writers directors producers technicians, it weighs 8.5 pounds, which is heavy. you can kind of work out with it. >> you can see how they struggle sometimes. >> look at these beautiful ladies visiting from boston. nice to have you here. how many people know the outcome of the academy award voting before the ceremony? is it two, three, or nine? try to keep it a real secret. >> a. >> yeah. >> took her a while, but she got it. it was worth the wait. who are the two? >> two pwc partners and they go old school with this. they hand count the votes, put them in locked briefcases, travel separately to the awards show, and they stand on separate sides, opposite sides of the stage. >> all right. >> no chance for a leak. all right. over to you, kath. >> really? we have mutual friends. west springfield, massachusetts, which two received their first academy award nominations in 2005? and their second nominations this year. that's crazy. reese with

newports shipment in three months. >> for a small businesslike mine, there comes a point when it shuts you down and that's where we're at right now. >> the last he heard, the container was stuck at long beach, and he can't supply his customers, he won't be able to feed his family. >> i'm frustrated in knowing that an organization uses my family as a negotiating tool. >> we would unload four times as many containers right now as we are. >> dave weber is in much the same boat. sitting out in the bay on a container ship. weber's company the an ex-consolidation center supplies green coffees and teas to roasters all over the bay area customers who now just have to wait. >> it's impacting the inbound product, making it available for the roasters everybody's frustrated if you will anxious to get product that should have already been here. >> weber told us, he's already had to impose rotating layoffs on his employees. he realizes a labor dispute at the port has resolved soon, it could take weeks or months for his shipment to return to normal. >> in san leandro, laura anthony, abc 7 news. >>> coming up on abc 7 news at 5:00, the negotiations that are underway between port worker unions and why cont

newport, rhode island, and his life continued from spot to spot. he served as chaplain in desert shield desert storm while he was stationed out of oceana naval air station in virginia beach. he had a turn at guantanamo bay in cuba, which we all talk about today, and was crferred to the second -- was transferred to the second marine division in north carolina where he served as regimental chaplain. let me just say that this is a decorated chaplain. randy cash retired from active duty in 2009. his military awards and decorations include the legion of merit 2 awards and the bronze star. he is a man of conviction. he is a tremendous north carolina lynnan and over the -- north carolinian and over the next year he will serve as chaplain over the legion in a most effective way. reverend cash, we're delighted to have you here. i yield the floor. mr. mcconnell: mr. president? the presiding officer: the majority leader. mr. mcconnell: i understand there are two bills at the desk due a second reading. the presiding officer: the senator is correct. the clerk will read the titles of the bills for the second time. the clerk: s. 534, a bill related to immigration and for other purposes