my friends from nextel. we had a mini american express board meeting with ted and vernon earlier. steve and jean from aol and all the folks from aol. i was on the board at aol and time warner for many years. and, of course, the carlyle group which is -- which is great and my personal friends. i play squash with them routinely and i might add routinely beat. [laughter] >> and, of course, my college roommate is here, jim perry, who is a dear friend of -- he knew me when i had hair. and which even my wife can't say. [laughter] >> and jim and i roomed for three-and-a-half years at the united states state academies and, of course, my wife who i couldn't have embarked on this adventure without her. how many veterans are there in the group? would you raise your hands. thank you for your service. [applause] >> and thank you, david for the kind introduction. it's great to be here. i flew in last night and, yes, i did fly commercial. [laughter] >> i'm not that dumb. [laughter] >> i did the whole airport thing. i actually chose the enhanced patdown of the entire body. and i told the tsa agen

five years after inheriting the nextel wireless network, sprint now plans on shutting it down. that will happen by 2013. in the meantime, sprint will work on integrating the two wireless systems into one. sprint says it will save it up to $11 billion over the next seven years. investors cleary liked the move. sprint shares jumped 6% on more than twice their average volume. this rally takes the stock to a six-week high. merger talk was active in the book-selling business. that talk was fueled by an activist hedge fund manager saying he's ready to finance a buyout of barnes and noble by borders group. the bigger of the two, barnes and noble, is the target. shares jumped almost 11%. the proposed buyout price is at $16 per share. investor ackman and his pershing square capital management now owns more than 37% of borders. he says he's ready to finance a deal between the two book stores. one other deal in the making. semiconductor testing equipment manufacturer verigy is at the table with a japanese competitor. the offer is for $12.25 per share, but today's 42% rally takes it well o

but nextel latest business news with daniel bushell. business russia's biggest mine in the last nickel has agreed to sell three and a half billion dollars of its stock to commodities trader traffic or nickel will sell the eight percent stake in the form of american depository receipts held by subsidiaries is the latest move in the tussle between shareholders ali i'm glad to meet the tone and for control of the metals for last week north of a twelve billion dollars to buy the blocking share held by the so. let's check out the stock markets asian bourses are in the black as commodity prices climbed the growth was also supported by a third reserve comment that the u.s. economy next year may be stronger than expected both the nikkei and saying are more than a percent higher this hour. russian markets closed in the red however on monday with both the r.t.s. and my six ending point two percent down most energy stocks were lower at the close as light sweet stays on the eighty nine dollars a barrel bluecoat has lost over one percent well clearl

yes moscow artists here in just a of time well nextel latest business knees with show that sets off to short break don't go away. hello welcome to the business program here in r.t. with me shark them is folly hedge fund so the largest net inflow since two thousand and seven with industry capital increasing by one hundred twenty billion dollars in the third quarter boosted by performance the new money the founder of the moscow based hedge fund richard deitsch says managers investing in emerging markets will see massive inflows as the industry comes back on track after three difficult years . emerging market countries which are very strong emerging market countries have record levels of reserves. i think something like sixty percent or sixty five percent of all global reserves are now held by currency reserves are held by emerging market countries and when you look at the other side of the equation in developed markets are they can still even be called that. they look like what we used to think emerging markets look like they have extremely high levels of debt. they have a particularly i

sprint said it will start phasing out to nextel, and it's been losing money since two companies mergednd does not work with smart phones. >> the dow fell today thanks to fed chairman's prediction that it could take fivers for unemployment to return to normal. the nasdaq gain smd ground. >> the treasury department encountered a major problem in producing the new $100 bill. they're supposed to have high-sek features by it's so complex, printers can't handle it. about 30% of the bill's 1.1 billion have creases and bright spots. they're the most expensive bills ever produced making this a very costly mistake. >> and coming up here next on 7 on your side, an east bay car dealership shut down by the state. >>> a contra costa car dealer may be trying to open a new dealership. >> evidence he was selling cars without providing buyer with titles or registration. >> he is scheduled to be arraigned next week in superior court. we reported in july, the dealership has been closed and many customers fear they haven't heard the last of the elite auto. these are the charges filed against the owner. 11

then he became the ceo of nextel and transformed the company. he then became the ceo of xo and served his fourth company. he then left that enjoined carlisle in 2003. wh he left to become the ceo of general motors, i knew it was a daunting task. he did an extraordinary job. he was elected to the position on august 11 of this year and they have completed a historic i.p.o. -- the largest ipo in history. i doubt there is anyone u.s. singlehandedly put as much money in the coffers of the u.s. government as he did. as a result of that i.p.o., the u.s. government has been repaid $23 billion. i refer to him as our $23 billion man. he has shown his extraordinary skills as an executive and a ceo. i doubt that the i.p.o. could have been done unless he was there to shepherd it through. already, he has shown extraordinary skill and we are very pleased that both day and is here today and i think as a taxpayer, we are pleased that he is now the ceo of general motors report -- general motors. [applause] >> i had a thought while david was speaking. when i meet

verizon ranks first, sprint nextel jumps to second with t mobile in third. >>> time now 6:20. a new economic forecast for california shows the state could have at least one more really rough year before the economy starts to bounce back. the anderson forecast from ucla says california will have a jobless rate of 11.4% in 2011. and the rate will not drop to single digits until 2012. it's a 12.4% right now. the report also expects real personal income to grow just 1.6% next year. but should nearly double that in 2012. >>> it's a new take on making money. a bay area town may start minting its own currency. >>> and the f.b.i. is warning cell phone users the latest cyber crime they call it smi you shaling. >>> good morning. if you're in the south bay right now traffic continues to move well through the value illegal immigrant we'll tell you more about a serious problem we're hearing about in the east bay. just brewing up some dunkin' donuts coffee -- want some? [ whoosh! ] i'd love some. one taste, and you'll understand. delicious dunkin' donuts coffee. pick some up where you buy g

i had one of the senior nextel people go into one star. it was safety and security. the people were crushed and i was like -- this is "i have fallen and i cannot get up" automotive equivalent. believe it or not, if you are driving a gm car with all-star -- with on star on it, i can tell you what your will pressures, your transmission food, the air in your car or your tires. -- your transmission fluid, the air in your car and your tires. i had a mercedes before this job. i kept having flat tire and there would not tell me which tired was. by the wayis it not warm in here? [laughter] i got up this morning and it was 32 degrees. [laughter] what we will do with on store -- you saw social media. we just loaded it into it. we do not want to create bad habits with distracted driving. i met with the secretary of transportation must make. you will be able to digitize and download -- for each gm car, you have a unique phone number. i did not know that before when to gm. if someone is running errands and you want to get ahold of her if she never turns on her cell phone in the c

then he became the ceo of nextel and transformed the company. he then became the ceo of xo and served his fourth company. he then left that enjoined carlisle in 2003. when he left to become the ceo of general motors, i knew it was a daunting task. he did an extraordinary job. he was elected to the position on august 11 of this year and they have completed a historic i.p.o. -- the largest ipo in history. i doubt there is anyone u.s. singlehandedly put as much money in the coffers of the u.s. government as he did. as a result of that i.p.o., the u.s. government has been repaid $23 billion. i refer to him as our $23 billion man. he has shown his extraordinary skills as an executive and a ceo. i doubt that the i.p.o. could have been done unless he was there to shepherd it through. already, he has shown extraordinary skill and we are very pleased that both day and is here today and i think as a taxpayer, we are pleased that he is now the ceo of general motors reported -- general motors. [applause] >> i had a thought while david was speaking. when i m

nextel like to introduce dr.om my perspective, one of the best monetary economist in the world today discussing sound monetary policy, was the unique ability to translate complex ideas into crystal clarity. she is the co-director of the sound money project of the atlas economic research foundation, and also the author of numerous books and articles, including "the coming soviet crash," "money meltdown," and articles that you would see regularly in the "washington journal" -- "wall street journal" and "new york times. she will talk about this and we're honored to get that out to the rest of america where it belongs. most recently, judy has joined freedomworks as a senior fellow, and director of monetary policy at freedomworks foundation. dr. judy shelton. [applause] >> thank you, matt. sound money is one of those phrases that sounds good, it sounds right, the sound of the dollar, but what does it really mean to be in favor of sound an honest money? in my days as a university professor, and i taught a course called

i had one of the senior nextel people go into one star. it was safety and security. the people were crushed and i was like -- this is "i have fallen and i cannot get up" automotive equivalent. believe it or not, if you are driving a gm car with all-star -- with on star on it, i can tell you what your will pressures, your transmission food, the air in your car or your tires. -- your transmission fluid, the air in your car and your tires. i had a mercedes before this job. i kept having flat tire and there would not tell me which tired was. by the way, is it not warm in here? [laughter] i got up this morning and it was 32 degrees. [laughter] what we will do with on store -- you saw social media. we just loaded it into it. we do not want to create bad habits with distracted driving. i met with the secretary of transportation must make. you will be able to digitize and download -- for each gm car, you have a unique phone number. i did not know that before when to gm. if someone is running errands and you want to get ahold of her if she never turns on her cell phone in the

nextel like to introduce dr. judy shelton, who is from my perspective, one of the best monetary economist in the world today discussing sound monetary policy, was the unique ability to translate complex ideas into crystal clarity. she is the co-director of the sound money project of the atlas economic research foundation, and also the author of numerous books and articles, including "the coming soviet crash," "money meltdown," and other articles that you can see in the "wall street journal" andy "new york times." she will talk about this and we're honored to get that out to the rest of america where it belongs. most recently, judy has joined freedomworks as a senior fellow, and director of monetary policy at freedomworks foundation. dr. judy shelton. [applause] >> thank you, matt. sound money is one of those phrases that sounds good, it sounds right, the sounder the dollar, but what does it really mean to be in favor of sound an honest money? in my days as a university professor, and i taught a course called -- c

intelligence service says it has arrested four people suspected of plotting a terror attack against a nextel cup that printed -- against a newspaper that printed the prophet mohammad cartoon. they say they were residence of sweden. air, road and -- are catching up. most flights at newark's liberty airport are taking off and landing as scheduled so far today. but there are still delays at la guardia and kennedy airports as airlines continue catching up on hundreds of flights grounded since the weekend snowstorm. the energy nrge department today releases an update on fuel stockpiles. according to platts, analysts are looking for crude oil stockpiles to decline by 3.2 million barrels while gasoline stocks are seen as rising by 1.7 million. meanwhile, in iran, fuel consumption has fallen by a fifth since that government began slashing energy ensued subsidies last month. gasoline prices quadrupled and bread prices tripled after cuts came into effect december 19. part of the government's effort to boost iran's ailing economy by reducing the massive drain on the state budget from the subsidies. and