steve, ed donaldson, tracy parents, peter cohen, jenny, i cannot read the least name. alvaros sanchez. >> i am a community organizer. i am going to read the administrator's beach. i will go ahead. greetings, supervisor. i am a north beach resident. i have seen a lot of changes in this neighborhood. it has the highest level of the evictions in the city. when the owners purchased the building, are resided with all of my neighbors and i. the veterans who served our community and country in the beach. i often wonder what happened to the senior, disabled, and long- term residents that might cause -- call neighbors. proponents have identified this as a win-win. condo units can pay into the trust fund. i and many san franciscans support affordable housing for all. it concerns me. property developers are able to bypass a condo lottery system by paying into the trust fund. i can only imagine the number of tenants in control units. the city would use an immense member of controlled units, many with house some of the city's most adorable residents. i ask supervisors and sentences

joining us now is peter cohen, president of peter s. our guest host, julia, stays with us to discuss this as well. peter, in terms of facebook, i'm just going to put the question to you simply. are we overvalued at these levels? >> we're very overvalued. look at the price/earnings ratio. compare it to google. the best one is apple. compare to 12.5. apple grew its earnings over 100% in the last quarter and its p/e is 12.5 whereas facebook's earnings grew only 65% and its p/e is 75. and that's only under the lower valuation, the $75 billion valuation. if it was valued at $100 billion, the p/e would be $100 billion. it's grossly overvalued. >> yeah, those are staggering numbers when you think about it. but in terms of the growth story for facebook, what would facebook have to do to its business model to make you more convinced it could, in fact, grow? >> well, its growth rate would have to be accelerating rather than decelerating. between 2008 and 2009 revenue grew 186% and then the next year they grew 154%. and then in the last year they

supervisor cohen: thank you peter to the city attorney, was this item properly engine dies? >> today's meeting? supervisor cohen: yes. >> the clerk, i believe, posted the notice. supervisor cohen: is there room for discrepancy as to whether or not it has been properly noticed? >> as long as the clerk posted where she was required to do and send it to the appropriate people -- i did not do that activity, so i would need to defer to her. and it has been noticed supervisor mar: the description under item number three about what this ordinance is is very clear to me. regas three specific things that it does get to the clear enough to me, and i think a reasonable person would understand what the issue was. i think that is what he meant was not clear for him. but i think a reasonable person, in my opinion, would understand what this issue is. supervisor cohen: ok. is r sinceu bannon hereb? en ok, and after eric. >> good afternoon, and thank you for the opportunity. first, let me say that i really admire the work that the doctor is doing, and ms. albright. thank you to supervisor co