orr. no stranger to the financial world.oney off detroit selling bonds, probably with terrible credit analysis. okay? who is it? bank of america, merrill, under one roof. jpmorgan, selling with -- 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 pe

orr?> margaret, this is an issue and an opportunity whose time has come frankly if we get everybody as the governor said pulling all oars, if you'll excuse the pun, pulling together we can get this done very quickly. i'm not unmindful that i'm comfortable in the bankruptcy courts in america and they're tremendously talented. they handle horse farms to airlines, they will be able to provide heft and impetus but i'm hoping we don't have to go that that route. that sounds odd coming from a bankruptcy practitioner but that's my goal. >> warner: governor rick snyder and kevyn orr, thank you so much. >> thank you so much, margaret. >> woodruff: michigan public radio has ongoing coverage of detroit's financial crisis. find a link to that reporting on our homepage. >> brown: next, bright lights over the bay. "newshour" correspondent spencer michels reports from san francisco on a work of public art. >> reporter: for 75 years, the bay bridge has been the workhorse on san francisco bay, linking oakl

in screwed news detroit's emergency manager kevyn orr begins his term of one man rule today pointed by michigan governor rick snyder earlier this month or at the podium here will according to state officials at least help to oversee the motor city's struggling finances and usher in a new prosperity era filled with a responsive government for its residents but to many detroiters or is nothing more than a technocrat tyrant concerned citizens fear that rick snyder's real goal is not to restore the city's financial help but to force corporate governance on its residents they believe in democracy but city representatives not an elected state officials are best equipped to solve the city's problems and detroit residents worry that or will privatized vital social services and smash unions now they're starting to fight back over the weekend to try to some all backgrounds teamed up with union leaders and churches to protest that state's bloodless coup they demanded ors ouster and urged rick snyder to return control of the city's affairs to its rightful elected city council so what's next for de

cbs reporter, bob orr, on the arrest that is being called another victory for the obama administration>> sulaiman abu ghaith was a chief spokesman for al-qaeda, a leading propaganda in the months surrounding 9/11. on september 12, one day after the attacks, abu appeared next to bin laden in this video, warning america to brace for followup blows from the terror group. but one the u.s. military lost its war in afghanistan late 2001, abu ghaith dropped out of sight. counterterrorism officials say a handful of other fugitives fled to iran where they spent several years under house arrest. he resurfaced last month in turkey. u.s. intelligence was tipped off and sources say abu ghaith was arrested last thursday, february 28, and secretly flown to new york. on monday, a federal grand jury in new york indicted abu ghaith on a conspiracy to kill united states nationals. the capture extends the rates of a depleted al-qaeda. only a few top remain. among them are with california born, adam, and one-time florida resident al-zawa. >>> he should be facing military charges at guantanamo bay. bob orr,

which is it for kevyn orr? >> dynamic is created where the mayor and city council really have only one option, to comply or oppose. for the most part they oppose because that's all they're empowered to do at this stage of the game. you look at the city budget and the prediction municipal jobs en masse, the unions, afscme in particular is responding with a lawsuit. >> whole thing was a sham for the state to come in and take over the city of detroit. that is what is happening and to break the unions. >> reporter: now pontiac, michigan is one of the cities under emergency management. the mayor of pontiac told me has absolutely no authority whatsoever but he says, only an appointed official could make the kind of cuts that are necessary. they would be political suicide for an elected official. jamie? jamie: interesting story there in detroit. thank you, mike tobin. bill: one of the headlines of the morning is this. a stunning court reversal for the american student, amanda knox but can she be forced to go back to i

kevin orr is a d.c.-based lawyer who worked on the chrysler bankruptcy in '09. detroit has been struggling with budget deficits for years. it has $14 billion in long-term debt. orr said today he wouldn't rule out bankruptcy for the city but said he expects to be able to turn things around there without one. >>> on wall street here in new york today, stocks up again. the dow jones now on its longest consecutive winning streak since 1996. this is ten up sessions in a row. blue chips gaining nearly 84 points to another all-time high. nasdaq was up almost 14. s&p came within two points of its all-time closing high. up 8 by the end of trading. >>> still ahead for us tonight, rapid changes for men and women at home and at the office. a new look at the struggle to strike a balance between work and family. >>> and later making a difference by giving folks who have trouble expressing themselves a bold way to do precisely that. >>> we mentioned this right before the break. a big new survey on parenthood is out tonight. it's painting a picture of economic stress. moms and

. >> the man is 54-year-old kevyn orr, the one who oversaw the 2009 bankruptcy of chrysler and now will biggs state takeover of a u.s. city and he has one major goal to make sure detroit doesn't become the first big u.s. city to go bankrupt. the city is running a $327 million deficit and has not $14 billion in unfunded liabilities, things like healthcare benefits and pensions. >> the mayor and i discussed a true partnership. i'm not an elected official. never have been. do not represent the people. i aspire to be an emergency financial manager and when the mayor described his willingness to be part of the solution, and i hope as well the city council, i was compelled in a sense to undertake this endeavour. >> orr says he has a 12-16 month contract and hopes to get the job done sooner than that. >> there are folks who really oppose this new move. why is that? >> well, you heard the mayor say he is on board of this, but a lot of others in the protest, including the city council -- he called the mayor a quitter. we just learned the city council had threatened to sue over this. now now they

and along with him, detroit's new emergency financial manager kevin orr. >> kevin, kevin!ust try to turn around like the new york mets? it would be so much easier. it's a great challenge. we always talk about detroit. >> we love detroit. >> we love the city and hurt for it. let's start, governor, with you. why do you take the action that you took on detroit? >> well, it's needed. it's fairly straightforward. we had a financial review team come do an analysis and look at what had been going on in the city. i appreciate the efforts of the mayor and the city council to solve the problem but it wasn't enough. we need to get this turned around and we will get it turned around. turning around detroit is critical important. we need better services to citizens and need financial stability and need to grow detroit and a growing detroit will be great for michigan and the entire country and we will get this job done. >> kevin, what is the first step in getting the job done? >> thank you, joe. the first step is really sort of getting boots on the ground and looking at what needs to be

orr the mayor of detroit right now?ecause they have a mayor dave bing who was on the show about a month or so ago. are you in effect his boss? >> no. the mayor is elected and i am appointed as a creature of state statute. i have certain powers under state law that allow me to transcend some of the duties typically held by a chief executive but the mayor is still the mayor. i think of myself as exactly what the statute says i am, an emergency financial manager. >> if i may emphasize it was great the mayor was a participant today in the news conference. >> yes. >> we wanted him to be a strong partner in this effort and it was great to have mayor bing with us today. >> how likely is it, governor, and i'll let mr. orr respond, how likely is it this could be a huge bankruptcy in the works right now for detroit unless you guys come up with a specific plan that is going to be very bitter for a lot of folks there. >> again the goal isn't to go into bankruptcy. the goal is to solve the problem. that is the focus kevyn is going t

the detroit free press reports attorney kevyn orr, who managed chrysler's bankruptcy restructering, is the governor's top pick as financial manager. former gop presidential candidate mitt romney is also rumored as a possibility. the government continues to sell off its stake in gm. unfortunately, uncle sam took a loss on the latest trade. according to bloomberg news, the treasury sold 18 million shares when the stock traded between 26 and 28 dollars last month, collecting nearly a half- billion dollars in the process. all told, the government has recovered $29 billion of its $49-billion investment. the irs says h&r block is responsible for the delay of 600,000 refunds. marketwatch reports the nation's largest tax preparer failed to correctly fill out a form used to claim educational credits. people who filed thru h&r block may have to wait an extra six weeks for a refund. h&r block is working with the irs to correct the errors. credit reporting agency equifax is investigating a high-profile hack attack. equifax says it is searching for answers after hackers accessed the credit reports

detroit's finances are now under the control of emergency financial manager kevyn orr. he is tasked with reigning in budget deficits that reach into the billions. china may soon resume handing out subsidies to people who buy electric cars. a couple of years ago, several cities, including beijing, began offering nearly $10,000 to electric car buyers. the deal ended in 2012, but it never really caught on due to the lack of charging stations and high battery costs. the chairman of byd, which is building the plug- in cars with daimler, expects the subsidies could happen in april or may as china attempts to curb pollution. byd is backed backed by billionaire warren buffett. new york city mayor michael bloomberg is planning a $12- million tv ad blitz to push for new gun legislation. the specific audience bloomberg wants to reach are senators in 13 states in advance of an upcoming vote on gun reform legislation. he cites national polls that show a vast majority of americans want new legislation. he spoke at an event recently along with vice president joe biden. "if congress do

law mandates that public and private employees dealing with children report any suspicion of abuse orr neglect. >>> not at 11:00, what was in those brownies. police say they believed five students ate brownies laced with marijuana. inva investigators believe students made the brownies. parents were also concerned that the kids ate the brownies. >> my first question, i ask them, basically, are you okay? you don't eat anything? >> i never eat nothing from nobody else. i said ork. >> the da is now involved and will consider what charges to be filed. >> they're breaking the cold for a seat in court. people are lined up to witness history. the supreme court's hearings on same-sex marriage. on tuesday, the justices will take up prop 8, which is california's ban on same-sex marriage. and then the following day, they'll take over the defensive mayor's act. happening now, not far from the supreme court, a look at the senate floor. it's just passed 2:00 a.m. in washington, d.c. and lawmakers are still at it. the senate is riding out details on the federal budget. if the budget is passed, it woul

kevin orr will try to fix the city's finances and try to avoid a bankruptcy. detroit is now the largest american city ever to have its finances placed under state control. >>> there's also trouble in many of the nation's counties. new figures from the census bureau show a record number of u.s. counties more than one in three are dying off as aging populations and weak economies force young adults to look elsewhere for jobs. >>> airport safety officials say they are allowing small knives and items like golf clubs on aircraft again to conform with international standards and make airport security checkpoints move more freely. the decision by the tsa particularly about the knives has been met with a storm of protests from a broad range of groups. hampton pearson has more. >> reporter: today the growing backlash against the tsa's decision to allow passengers to carry small knives on planes starting next month made its way to capitol hill. a coalition of flied attendants, pilots and air marshals joined massachusetts congressman ed r markey who has blocked the tsa m

and we asked bob orr to tell us more about him. >> reporter: sulaiman abu ghaith is one of the last remaining members of osama bin laden's inner circle. abu ghaith, who married one of bin laden's daughters, was a chief spokesman for al qaeda, a leading propagandist in the months surrounding 9/11. on september 12, one day after the attacks, abu ghaith appeared next to bin laden in this al qaeda video, warning america to brace for follow-up blows from the terror group. but when the u.s. military launched its war in afghanistan in late 2001, abu ghaith dropped out of sight. in early 2002, counter-terrorism officials say, abu ghaith, and a handful of other al qaeda fugitives fled to iran where they spent several years under house arrest. he resurfaced some time last month in turkey. u.s. intelligence was tipped off, and sources say abu ghaith was arrested by the fbi last thursday, february 28, and then secretly flown to new york. on monday, a federal grand jury in new york indicted abu ghaith on a charge to conspiracy to kill united states nationals. the capture of abu ghaith further thins the ra

here's homeland security correspondent bob orr. >> reporter: it's a partial roll back of one of the core aviation security changes triggered by the 9/11 attacks. after al qaeda terrorists used box cutters to kill flight crews and hijack four jetliners, the u.s. government banned all knives on planes. over the last 12 years, millions of knives have been confiscated at airport security check points. now the ban is being relaxed. effective april 25, air travelers will be permitted to carry small pocket knives, provided the blades are no longer than 2.36 inches and no wider than half an inch. box cutters, larger knives and those with locking blades and molded grips will still be banned. flight attendants warn even the smaller knives present a threat inside the passenger cabin. stacey martin represents southwest airlines flight attendants. >> they're allowing these items to come through, and they're putting the responsibility of the cabin completely on us even though they know coming through security are these items. >> reporter: but the transportation security administration argues the chang

bankruptcy lawyer kevin orr was named to that post.ove the s&p raised the credit outlook from negative to stable. detroit is the biggest american city to be placed under state control and it could become the largest municipal bankruptcy ever. joining me is darren nichols who covers city hall for "the detroit news." welcome to you. let's look at kevin orr. he calls this the olympics of restructuring. just how bad is it? >> it's prettied about. you're talking about a city that has $14.9 billion in long-term liabilities and a city that needs to begin paying back about $1.6 billion within the next five years, and so this situation in detroit hasn't, you know, occurred in a fly by night kind of situation. it's happened over time, but it's gotten to a point where the city leaders can no longer handle the situation. >> and darren, it's happened over time because of what? is it the collapse of the economy for the most part? is that what is most at fault or is it mismanagement? >> sure. there are multitude of issues. you're talking about a city

kevyn orr runs the city and what will he do with a city with unpayable debts. detroit. ♪ >> we just outlined two american cities on the verge of or actually in bankruptcy. now how about an entire country on the verge of a flat-out depression. that's what cyprus faces, a bailout plan has been approved. bank accounts over 100,000 euros will be taxed. the russian mob losing. angela merkel, the germans winning. i'm going to call it catastrophe for the people of cyprus which is where we find rich edson. and rich, set the scene. i'm hearing that it's not chaos, it's not misery, they're actually having a party. it's a holiday today. go. >> it is a party, stuart. it is europe. the cafes are filled here in the capital. there have been protests and plenty of bankers are going to lose their jobs as the banks are resolved. the russia is going to have some issues as well. and generally speaking the economy is likely to get worse as the conditions of the bailouts are rolled into place, as far as the street scene around here has been concerned and plenty of places taking cred

bob orr, thank you. >>> the u.s. is calling on china to take serious steps to crack down on cyber thefts. american businesses are falling victim to china attacks on a large scale. it is a risk to relationship between the two countries. the chinese government claims china is also a victim of hackers. >>> new concern this morning over the latest threat by north korea's latest leader. kim jong-un told forces to be prepared to wipe out a south korean island. >> reporter: north korea today continued its over the top reaction to last week's united nations vote imposing new sanctions on north korea. they have renounced the peace between south and north korea and when kim jong-un talking about being ready for war, it's a war repeatedly said would be coming from the united states. north korea is also staging mass rallies where troops and people stand at attention to hear about the vengeance the u.s. can expect. general roh yong mun says that the u.s. should await the destiny of destruction. china's leaders want kim to stop nu

orr will try to fix the fiscal crisis over his 18-month term.s 327 dow million budget deficit and long-term debt of $14 billion. >>> britain's prince harry is returning to the united states. the just announced visit will happen in may and includes stops in washington d.c., new york, new jersey, and colorado. the visit is on behalf of charities he works with and this time las vegas is not on the itinerary. those are the headlines. back to ashley. ashley: probably mother's urging. fox news's lauren green, thank you very much. >>> cyprus agreed to bailout by shrinking the banking system with wealthy depositers taking a big hit. our next guest says that sets a dangerous precedent for the rest of the eurozone. nile gardiner, from the margaret thatcher from the heritage foundation. this could lead to a bank run of sorts in many of the other eurozone countries. >> yeah, i do think it set as very, very dangerous precedent for other eurozone members, not the least of four other countries inside the eurozone that accepted eu bailout conditions, namely, gr

2008-through the 2009 academic yearthe list of violations continuessaint mary's athletic director mark orr >> "arranging for housing and providing smaller benefits like shoes" >> reporter: all violations as determined by the ncaa's committee on infractions for failing to monitor this situation saint mary's men's basketball program received sanctions which includes4- year probation2 scholarship reductionsand a 5 game suspension for head coach randy bennett >> "we can do a better job" haaziq madyun kron4news nobody needs to tell you that we californians pay the highest price for gas in the nation. up next, why. and if there's anything we can do about it californians may be paying the highest gasoline taxes in the nation. >> vicki: nobody needs to tell the the we pay the most for to gasoline in the nation! coming up. gabe slate tech report move over drinking and dialing,. make room for sleeping and tes xting... >> vicki: a three- and a half cent- per-gallon tax increase kicks in this summer. the state board of equalization voted to hike the excise tax. to 39- point- five cents per gallon. tha

kevyn orr, a bankruptcy lawyer and rescue specialist. orr saying failure is not an option when it comes to digging the city out of a deep financial hole. detroit has $14 billion in long-term liabilities. that includes underfunded pension programs. this is a big, big job. heather: a lot of people planning on protesting that today. we'll see what happens. >>> newly ordained pope francis holding the palm sunday mass. marks the start of holy week leading up to easter. the vatican estimates that 250,000 faithful jammed into st. peter's square to hear the pope's message of hope. the pontiff encouraging them to be young and humble at heart. >> he is young at heart at 76. there was an image put out over the weekend of this. two popes, at the same time, in the same place. it's been 600 years since we have seen something like this. really quite an image. pope benedict said we're brothers here. they went off to pray together. you notice, put the picture up one more time of the the helicopter behind both of them. this is a long way from the bus that

growing sense of calm and orr ispahehth d hours.rronho all forces seem to protect the pharaoh as t sun god re. thartns to t of the sun god's triumph over his enemies. the falcon-headed re is seen before a row of fire pits in which his enemies are incinerated. goddesses, with terrifying nicknames-- "the one who injures" and "the one who is over her slaughtering block," spew fire and clutch weapons to ensure the total annihilation of the enemies-- a brutal necessity for re's rejuvenation. in the twelfth and final hour of the amduat the journey through primeval darkness ends, as the sun rises in the east and the sun god is reborn. the fully-fledged re emerges as a beetle, flying into the arms of the god shu, who will lift the sun up to daylight. the dense texture of storytelling created by the combination of images and text makes the amduat a uniquely egyptian phenomenon... together with other funerary texts, mummy wrappings, coffins, sarcophagi, and tombs, the amduat protected the deceased and guided them through the afterworld. the pharaoh's successful navigation of the netherworld resu

orr comes in, he has to raise revenue and cut spending at the same time.e in a city that the population's dropped 50% over the last seven years, unemployment's at 18%. how do you raise revenue with that? so you have to cut spending. where does the spending come from? almost $15 billion in union contracts and benefits, unfunded liabilities. that's where you have to cut. >> one move he could make is to merge detroit with another city. we've seen that happen in california. but -- bill: do you go to grosse point? bottom yak? >> merge fire departments, merge -- you know what i mean? they've been rapidly trying to privatize the assets in michigan, but whether he can pull this off is so key to avoid bankruptcy. it'd be the country's biggest bankruptcy to date, and whether or not the federal government steps in because this is -- bill: are you smelling bailout? >> i'm smelling -- well, it's an issue because motor city, the president did step in to help out the auto industry and took credit for it. whether he steps in to help the city is an entirely different ball

in michigan, i did the numbers and they are outspending the left five orr six oh one.any states, it's two or three to one. the monetary advantage is obvious. while a little union money negotiation to the left of center think tanks corporate money is really making the biggest difference. big corporations, you mentioned phillip morris, but there are many of them, really pitching up these state think tanks and winning many of these battles not just on tax and regulatory issues, they are consolidating power. michael: today michigan's right to work law takes effect. that's the union-busting law signed by republican governor rick snyder last december. what role did s.p.n. play? >> i took a listen to some of these s.p.n. meetings, went to some of these events. they really view that law in michigan as their crowning achievement. they've got a lot of different policy goals, but the biggest is consolidating power by eliminating unions. s.p.n. went into michigan early. they've been talking about right to work. last december, they were quietly negotiating with the governor to kind

they can determine almost anything about you including your gender, ethnicity, sexual orr generalation, just for starters. yes, the more they know about you, the more they can target ads at you, selling your soul. that's not all. they are able to determine your religion, political affiliation and your iq. now, iq is my favorite. according to the study, the most intelligent people like science, thunderstorms, out front, oh, i mean the dailey show, the godfather, morgan freeman's voice, mozart and curly fries. i have a confession to make, i hate curly fries. i always going with potato cakes. call me stupid. thank god i'm not on facebook any way. anderson cooper, 360 from rome starts right now. >>> thanks very much. good morning, everybody on what has been an extraordinary day in roam. we'll have complete coverage. there is breaking news at this hour involving a cardinal down the street behind me. cardinal mahoney of los angeles. the church settled four lawsuits against a diocese he ran. four men abused boys collecting nearly $10 million total. they were abused by a priest during the '70s

my preference -- i know the reference of the emergency manager, kevyn orr, is to get people around thele and negotiate this out. everyone knows there needs to be vetter solutions shep solution is to grow the city and begin biz better services, short-term cash management, long-term liability repayment plan that works. and instead of people arguing about the past -- >> neil: obviously you're a very smart negotiator, you know when you're saying the bankruptcy word your signaling you have toll compromise because the next alternative, all contracts are null and void and you might be in deeper. >> i wouldn't pick the unions. everyone needs to come to the table. >> neil: how likely do now think done. >> i'm not going to put a probability on it because in good faith we're going to work hard to say that is something we're not going to end up there. it's up to all the people coming to the table to say, let's solve the problem, ball in the citizens of detroit deserve better services. public safety, lying. the list goes on. this is a situation where detroit has many good things going, and that's s

governor rick snyder tapped bankruptcy expert kevyn orr, he helps with chrysler, but the detroit is arent thing altogether. a budget deficit more than 320 million right now and what that's translating as is things like this. the fire department stretched so thin it's proposed just letting vacant buildings burn if they catch fire. the city cannot afford to keep all of its street lights on, some city streets are just dark at night. trace gallagher with the news. trace, how long do they think the restructuring will take? >> reporter: well, the new city manager says he signed a 12 to 16 month contract and hopes it can be done sooner than that. as the governor said today, the problem took more than a half century to create. in 1950 the population of detroit, 1.8 million and today 700,000 which means that tax revenues have plummeted. so if raising taxes is not the answer then of course you have to lower spending and today the mayor said that everyone is going to have to give a little. listen. >> bottom line here is that we must stop fighting each other. we must start to work together and so

you don't sell this name down at 23 orr 24, you buy it. >> there is bottom fishing and laying down withg to get some fleas. this stock is going lower. capacity will increase by 40% of the next few years. commodity will do a big dive. china is spending $29 billion alone and adding new iron ore capacity. >> iron ore has been moving higher. >> and now it will reverse. based upon capacity. commodity, supply and demand. more than that, cliff, in terms of looking at their own future, just last week, cut their dividend by 76% and diluted by adding 7% convertible. you diluted shareholders, cut the dividend, commodity price fell apart. china away from infrastructure, nothing good going on here other than the worst performer in the dow. >> you led the show by saying china would get 7.5% gdp growth. >> no. i said that's what you said, if you believe it or not. it is not going to happen in infrastructure. >> it may or may not. but you're lookin ing ing ing i down 38%. >> who made the more compelling argument? >> steve did. i think what is most important to understand here, if you're a shareholder,

. >>> and kevin orr because poipd by michigan's governor to turn it around.s to work with the city council and the mayor but opponents are gearing up to protest his appointment. >>> and it is a $338 million mystery. new jersey lottery officials announced faye the winner of one of the largest powerball drawings in history has yet to come forward. the lucky winner stands to net $220 million. that's a lump sum payment. wow! >>> coming up, our "news nation's" gut check. and a female employee who was fired for tweeting about some sexual comments directed at her during a conference. she got fired. what happened to the guy? >>> plus, easter is just a week away. we're still dealing with the winter that will not go away. we'll get an update on the forecast. and be sure to like the "news nation" on facebook. ♪ you know my heart burns for you... ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! cue up alka-seltzer. it stops heartburn fast. some people w

. >> that was no ortdonthia orr geriatric slur. i would rather be a high-end retail or some industrials. i think net/net, unless you can find a creative, innovative or growing area of the industry, these stocks will tend to lag those innovative ones, as they have for the past five years. >> you had us at good teeth. after that, we didn't hear a thing. >> you had me at hello. >> thank you both for joining us today. >> thanks. >>> 30 minutes before the closing bell sounds for the week. you had fun with that. >> i did. >> we have a market that is down in jeopardy of the record-setting week. we are looking lower right now after eight straight record highs. >> no, we had -- >> ten straight days of gains, eight straight records for the dow. go figure. >> is today's pullback just a pause on the road to dow 15,000, or are we going to see 14,000 before we hit 15,000? both signs of that debate are still coming up here. >>> also, wall street's biggest bull is here. we want to hear from him. but you won't believe how high jeffrey sean darby sa

that's a dallas fed -- charles: orr the bronx tale, now you cant leave. >> roach motel. [laughter] charles: margie, we spoke with austan goolsbee earlier. i'm not sure if he meant to make this point, but he talked about how rapidly government spending declined last year, and i thought it was entering that as that declined so rapidly, the economy started to build momentum. you'd think maybe at the white house they may say let's step back a little bit, particularly after the sequestration drama which so far has been much ado about very little. is there possible that there could be a change in course? >> el, i think there are a few things to pay attention to. one is overall views toward how the country's doing, and when you look at voters' overall optimism, it's not where we were before the crash in 2008, but it's improved over where we were just a few months ago, and it's improved over where we were in 2011. so there is -- in 2010. so there is some real improvement there. and also as far as sequestration, i mean, that's really the next real hurdle. because we're only a cou

. >>> and kevin orr represented chrysler in the restructure and he is sthag he wants to solve detroit'slem with working with unions and creditors instead of a bankruptcy court. >>> and maryland is about to be the 18th state to abolish the death penalty. they are expected to vote for this bill, and the change has been on the books since 2008 when the governor came to office. >>> and the hashtag is one of twitter's most recognizable features and people use it in the status updates, but now facebook is testing how to use the hashtag to group posts about similar topics an index them. >>> the dow going for its 11th winning day in a row, and continue its best streak in 16 years. down 42 right now, and was up 60 or 70 a moment ago and the s&p is near record territory, and mandy drury is here watching your money, and while we watch the market, the u.s. is out with a reminder to one month before the tax day and time is running out to collect nearly $1 billion in unclaimed money. >> yes, richard, if you didn't file a tax return in 2009, you better hurry up, because the irs says it has $970 millio

kevin orr is expected to be greeted by protesters today and then meet with city officials who foughting the job at all. city officials hired the bankrupt lawyer because the motor city is more than $14 billion in debt. >> a big honor for former domestic terrorist bill ayers. he was named visiting scholar at state university at morehead. let's go to steve. >>steve: thanks, gretch. the celebration of passover begins tonight at sundown but there's more to the jewish festival than eating bread and drinking wine. it is about moses leading the israelites away from slavery in ancient egypt. joining us is the executive vice president of the new york board of rabbis. good morning to you, rabbi. thank you very much. for folks who are unfamiliar with what passover is all about, it really marks the exodus of the jews from egypt. >> years ago there was a wonderful movie called "trading places." i think that scene is embodied in the passover story because we trade places. here we are free and we try to experience history by tasting history at the table by eating the bitter herbs, the motzah. libera

but what's going to happen is as more and more orr people drop insurance -- other people drop insurance until they get sick, the premiums are going to have to rise to cover the high cost of just only covering the people who are sick. and as the premiums go up more and more, those other people who may feel it's bad to game the system more and more of them are going to say, look, we're just essentially being shmucks here by going and having the insurance all the time. we're going to do like everybody else, and eventually the system will collapse. now, the way it was kind of sold as solving that a problem was that if you didn't buy insurance, you were supposed to go and pay a fine. the thing is you're going to save so much money, and this fine isn't working out the way it originally was promised. so, for example, the cheapest insurance you're going to be able to buy when these exchanges get started is about $7100. that's for an individual. for a family of four, the cheapest insurance that the government's going to allow you to buy is going to be over $20,000. now, you compare it to what th

joining us now is israel's ambassador to the united states, michael orr.ry much for coming in good to be here. >> the president was pretty precise in talking about iran's nuclear program capability in an interview he gave israel's channel 2 that aired yesterday. i'll play the clip. >> we think it would take over a year or so for iran to actually develop a nuclear weapon, but obviously we don't want to cut it too close. >> is that your israeli government's assessment it would take a year for iran to develop a nuclear weapon. >> we certainly appreciate the affirmation of president obama's commitment to preventing iran from acquiring nuclear weapons. we are signed on to that program. our intelligence analysts together with american analysts look at the program, see many of the same things, we draw many of the same conclusions. i'll just refer you back to something prime minister netanyahu said at the general assembly last september where he said the main issue is not when iran gets a nuclear weapon. the one question is when can we no longer prevent iran from

kevin orr represented chrysler during its restructuring.is over the next term. they have long term debt of $14 billion. and the supreme court will take up two same sex marriage cases this week. there will be oral arguments on whether the federal defensive marriage act is constitutional and on california's proposition eight case, that defines marriage as between a man and a woman. both cases will be decided by the end of june. and secretary of state john kerry is in afghanistan to meet with president hamid karzai during the 24-hour visit, kerry is expected to discuss security for the drawdown of u.s. troops by the end of 2014 and outlook for afghan base talks with the taliban. sandra: thank you very much. after weak results from the republican's 2012 autopsy report, there's a new super pac in town looking to change things. here is more. carl? >> both parties doing rapid response really for a couple of hundred years but they usually do it through state and national parties and more often than not through individual campaigns. that's about to

bob orr is at reagan national airport. good morning, some people are not happy about this. >> reporter: good morning. this say partial rollback of a key security policy put in place after 9/11. after an al qaeda hijackers used box cutters to hijack four jetliners the u.s. government banned all knives on passenger planes. over the last 12 years, millions of knives have been confiscated at airport checkpoints. now the ban is being relaxed. effective april 25th, air travelers will be permitted to carry small folding pocket knives, as long as blades are no longer than 2.36 inches and no wider than half an inch. box cutters and larger knives will still be banned but flight attendants say even small knives present a threat. >> when you look back before 9/11 all it took was box cutters coming through. this point knives small knives all the same to us. >> stacy martin represents flight attendants at southwest airlines. >> they're lieuing the items to come through and putting the responsibility of the cabin completely on us even th

melissa: stocks of orr call slammed after disappointing software revenue which it blames on poor salesxecution. and if that wasn't enough, new information has surfaced the blackstone group is trying to recruit oracle president mark hurd for the ceo position at dell as part of its bid for the computer manufacturer. hurd is the former ceo of dell rival hewlett-packard. he joined oracle in 2011 e and is speculated to be a possible success sr. to see you larry ellison, so a lot of things weighing on that stock today. lori: keep an eye on it. and let's check the broader markets as we do every 15 minutes. it's time for another edition of markets now with nicole, and you're watching another tech loser today. >> reporter: there are a lot of tech losers, i have to note. cisco systems here is down nearly 4% on an analyst downgrade. the tech-heavy nasdaq, the worst of the three indices. cisco systems is low or today. we see the shares tumbling. the new price target to an underperform from a market perform and now have a price target of $17 from $22, and the firm saying there's just reduced demand

the orr comparison i've heard is if price of beef goes up, you can't say the people will buy chicken, you have to say in the same strata, so it would be hamburger. but suffice to say, if you can't afford to have meat in your diet, that's not a substitution you can make either. so the substitution effect that you're really going to seen when it comes to someone who has $520 a month or even the full ssi at $710 a month is scrimping on one basic living expense to cover the other. a tragically common thing that i see with my clients all the time is that they become incredibly proficient in how to manage a household budget so that you don't end up with any utility shutoffs. you skip your gas bill this month so you can pay your electric. hen you pay your gas bill this month, but you don't pay your electric. you won't get either shut off because you have to have not paid for 60 full days, and that's the kind of substitution you're seeing. it's skipping a meal or taking half a pill instead of a whole pill that's been prescribed. that's the kind of substitution going on when 520 is what you ha