it's a bright line implement ptc rail safety measures? >> yes they are currently operating on ptc. could i just check? it might be a different version of what we are talking about. >> please do so. >> is called the atc system. so they have a system called atc that is testing testing and it e fully implemented when as soon as the testing is finished but is currently on the system. >> is there an investigation is way -- as to why the atc has not been effective? >> atc or ptc would not be effective in people are at crossings against the flashing lights. what it does do is train to train collisions, it stops trains veteran over speed situations. if there is a designated area for there's a work crew it would be programmed to slow down or spot -- stop before that area. however with crossing ptc is not programmed or mandated to address that situation. that type of situation could improve crossings may be moving them further away or new technology that would issue an alert on cars or cell phones but the main thing that is the most helpful anywhere is the awareness and to let people know th

yet, we do not have ptc. i have recommended to the administration that they include grant funding to help some of the commuter railroads and others who are nonprofits, having problems meeting deadlines, although, there have been no allocations and no accidents, i do not know, also, how we can get a budget out of the administration where it actually cuts funding for fra's oversight and enforcement of ptc by 50%. is cut and already, that hopefully that cut is going nowhere in the united dates congress or the omnibus negotiations. safety and operations got cut by 30% per -- cut to automated track in inspection. it doesn't seem this administration is serious about safety despite the lives lost recently. i hope this committee and hearing today can refocus the urgency of this matter, focus the administration on this and we will see full implementation by the end of 2018. with that, i yield back the balance of my time. back the balance of my time. >> are now welcome the first panel the distinguished colleagues from

amtrak has ptc on about 700 miles of tracks it owns in the northeast corridor. but they say it should be on all routes and on all passenger trains as well. we checked in with septa, and we learned that their regional rails are all equipped with ptc. reporting live in cherry hill, i'm pamela osborn. >> positive train control is also a priority for new jersey governor phil murphy. in an announcement yesterday he said ptc is a key component of changes he wants to make to new jersey transit. he want to add more cars on the tracks but only after the system is installed. >>> speaking of transportation let's talk about your friday morning commute. 6:16, a check of the roads. >> jessica boyington, what are you looking at? 95? >> yeah, 95 and trying to see if any drive times increased. i just checked in a second ago and not too bad. so pretty light for this morning approaching the 6:30 mark. of course more volume moving towards center city on that southbound side. not seeing any problems reported because of the rain or any slippery spots. following cable, so route 9 in b

. >> ptc is the system to limit train versus train collisions and derailments due to speen. however, the company hope tuesday force other lines to meet the federal government's december 31st deadline to install the system. that also means amtrak isn't likely to let regional trains like amtrak or septa run on its tracks if they aren't ptc compliant. the mtsb determined a sleep deprived operator caused the train to race into the station way too fast leading to a derailment. it also could have stopped this deadly derailment back in december. there are concerns the operators in this crash may have been distracted. positive train control is also a priority for governor phil murphy. and in an announcement yesterday he said ptc is a key component to changes he wants to make to nj transit. he wants to add more train cars on the tracks but only after the system init stalled. they're taking steps to add more equipment and hire more people. >>> well, community leaders will meet this morning in philadelphia the governor of puerto rico. >> the non-profit group esperanza is hosting a comm

ptc has been something the ntsb has been calling for many, many years.n numerous accidents that could have been prevented about i ptc. it was mandated after a collision in 2008 in chatsworth, california. the congress said it had to be installed by the end of 2015. then they offered an extension to the end of 2018. so the deadline is the end of this year, and we believe that the sooner it gets installed the better so we won't be seeing tragic accidents like we are looking at today. >> not to put too fine a point on it, but the fact that this deadline was extended, has it cost lives? >> we have seen accidents since then that could have been prevented by ptc. but the reality is frankly is the railroads were not able to get it all done by the 2015 deadline. so it really did need to be extended. but i will say that for every day, for every day that goes without ptc, we run the risk of another accident like we had yesterday morning. >> the people on the train, the conductor, the engineers, they will be interviewed as a matter of course. explain to us that proc

we awarded a contract in 2011 to install a ptc system. but it is important that we always talk about ptc project projects by context yul liezing that -- tennessee connectionu -- contextulizing. it has provided for a time deadline and so there's fierce competition for all sorts of things, including funding and resources both in terms of people and for the very few vendors that provide this technology. caltrain has made significant progress. we awarded a contract in 2011. the budget for that program was $239 million. you'll' there's much we have completed on the caltrain corrid corridor. but our program was not without its issues. after making several attempts to finish the project with the prime contractor that we initially awarded to, we terminated that contract in february 2017. since then, what we've done is we've obviously kept our funding partners in the loop. we've also contacted our regulators in the form of fra and fta in order to seek their counsel and advise. i will mention there's litigation currently underway. there's not much

it's called ptc for short. was supposed to be installed across the country by the end of 2015, but that deadline was extended until the end of this year with the possibility of it being extended to 2020. here's what the ntsb had to say about ptc and what a passenger had to say about the crash. take a listen. >> ptc has been mandated to be installed over a lot of the nation's railroad. the deadline for that is the end of this year, december 31st, of this year. so determining the exact status of the installation of ptc will be something that will be very important for us to find out. to be clear, ptc is designed to prevent this type of accident. >> i feel at my worst. i've never seen anything in my entire life like this, bodies wherever, people on top of one another. the train just -- it just crashed. >> did you feel anything? see anything? >> i was trapped. i couldn't move, both the seats were on my legs. i just couldn't move. >> one of the other things that investigators are going to be looking for is something

. >> reporter: amtrak it installed ptc to stop crashes like these. by the end of the year, most of the nation's railroads are expected to have ptc but congress allowed them to apply for a two-year extension. >> if we had a positive operating system, this would have been avoided. >> reporter: late today the ntsb confirmed that the signal system here was down, because the rail company was upgrading it to install ptc. the very system that could have prevented this. lester? >> gabe gutierrez at the crash scene for us. thank you. >>> there are new concerns this evening, and something important to be aware of as the flu emergency continues to sweep through schools, homes and offices, perhaps yours. doctors are warning just because you've gotten the flu once this season doesn't mean you can't get it again. and as nbc news medical correspondent dr. john torres tells us, the flu season is only half way done. ♪ o, say can you see >> reporter: even pink had the power through the flu posting she was trying to practice the flu away to sing the national anthem at

but amtrak is willing to disrupt operations in a push for ptc. again, this is way of encouraging the industry, other transit agencies to get onboard as well. reporting live in cherry hill i'm pamela osborn, nbc 10 news. >>> 5:39 right now. community leaders will meet this morning in philadelphia with the governor of puerto rico. >> the non-profit group esper ansa is hosting a community breakfast. it happened as the island continues to struggle with a lack of power after hurricane maria devastated puerto rico last year. >>> i'm meet laulteorologist bi henley. 5:39 and a rainy start this morning, and mild one, too. a live view of philadelphia. you can see some rain falling on the camera. the view is not going to change much during the day, and nor will the temperatures. 53 degrees right now in philadelphia. northeast philadelphia close to 60 degrees in trenton and low 60s right now in milville and dover. rain still going to be coming at us through the day today. rain showers lining up to the west and midwest. that rain is due in today. but it will

.>> an operational ptc system is designed to prevent this type of accident. >> reporter: ptc is mandatoryaw, but almost all of the commuter train lines have got the deadline extended. some say they want ptc and other safety measures implemented sooner rather than later.>> i still think it is safer than traveling on the road. >> i really wish that we could adapt some of the systems that the other countries use. i think we should.>> reporter: the deadline was last extended back in 2015. the new deadline is december 31 of this year. >>> a wild day on wall street as the dow jones dropped more than 1100 points. that is the largest single day point drop in history. >> just what the heck is going on, and that is a perfectly legitimate question. >> it is the second day of steep losses that have wiped out the markets gains since the start of the year.>> the dow jones industrial average finished the day down 1175 points. that is a drop of 4.6%. the s&p and nasdaq also sustain subs -- sustained substantial losses. >> reporter: when you see numbers like that, there is definitely a reason for concern.

there is a gps-based safety system called positive train control or ptc, mon is torg the locations ofof switches and can prevent trains from going too fast or colliding. it is supposed to be fully implemented by the end of the year but previous deadlines have been extended. >> determining the exact status of the installation of ptc will be something that's very important for us to find out. but to be clear ptc is designed to prevent this type of accident. >> today ntsb investigators plan to interview surviving members of the amtrak crew while memories are still fresh. they've recovered a forward facing video recorder from the train that could give clues to the train's speed before impact. the ntsb is trying to determine why a track switch was locked in the wrong position sending the train onto a side track where an empty csx freight train was parked. >> it just derailed. i don't remember much after that. knocked me out. >> the impact killed an engineer and conductor riding on board the locomotive. more than 100 people were injured. six of them remain hospitalized. more details will co

end of this year with the possibility of further delays. >> it is so important in this country that ptcbe implemented by the end of the year and that we don't give any more extensions. >> the ntsb says track signals of the crash site were not operating at the time because they were undergoing upgrades for a ptc system. investigators plan to remain unseen through the weekend and then the ntsb will issue a preliminary crash report a few weeks after. >> bret: jonathan serrie live in south carolina. jonathan, thanks. former team usa gymnastic and michigan state university dr. larry nasser was sentenced to date to between 40 and 125 years in prison for sexually abusing patients at an elite gymnastics club. it's the third and final sentencing for nassar. up next, historic losses on wall street. we will hear about it from the panel. two,that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches an

that's why the ntsb continues to say positive train control ptc needs to be implemented on tracks across the county. install it ends at the end of the year. >>> larry nassar the sports doctor already facing life inreceived his and final sentence in the assault trial this morning.as sentenced to 125 years inlite gymnasts in michigan. 260 women and girls say nassar abused them while he worked for the gym. michigan state university ands.a. gymnastics team. >>> president trump traded insults with the top democrat on the intelligence committee today. he called adam shift quote one of the biggest liars and leakers in wall. added he must be stopped. schiff wrote instead of tweeting false smears, the american people would appreciate if you turned off the tv and helped solved the funding crisis protecting dreamers or anything else. the president's message came before the meeting of the house intel panel was expected to release aemocratic memo. >>> another exclusive accuweather seven-day outside, sky6 live hd showing you the center city skyline at lunch time. meteorologist david murphy has an upda

i think we should.>> reporter: the ptc that i was last extended back in 2015. new deadline is december 31 of this year. >>> stocks plunged today on wall street as it was the biggest point drop ever. when the closing bell finally rang, the dow jones was down about 1200 points.>> today's massive stock market drop erased all of the gains that have been made so far this year.>> here is a look at the numbers. the dow jones finished the day down 1175 points. that is a drop of 4.6%. the s&p and nasdaq also suffered serious losses. >> for some perspective now, we are joined with this financial advisor from morgan stanley. the threat of rising interest rates, is that what is happening here? >> exactly. the market is based on speculation, and it is speculated because the consumer price index and wages have gone up that is going to create some inflation. when you add in tax reform, there is all of a sudden a huge money supply, and the market is really married about the open market committee regulating this. >> how big a deal is this, especially for people who own stock? w

now, congress have mandated that ptc be installed across the country by 2015.that was extended to the end of this year. with the possibility of extending it even to 2020. here's what the head of the ntsb told my colleague gabe gutierrez, as well as what a witness said they saw during this terrible crash yesterday. take a listen. >> for us, as accident investigators, the very frustrating to see the same type of accident that can be prevented. >> it was breathtaking when we first got there. there wasn't a word said. we were all just taking it in. it was a lot worst than what i thought it was going to be. i thought it was at first maybe, like, something exploded. but it was -- it was a whole train off the rails. >> this is as close as investigators will let us get to the crash scene. the just beyond these barricades. the csx freight train is just beyond that tree line there. the other thing the ntsb is looking for is the event data recorder. it's basically the black box of the train. in order to figure out exactly what the conditions might have been when this terr

>> victor, determining whether or not ptc was installed or is installed on this particular segment that'something certainly of great interest to the ntsb. there's been a lot of talk about that in the last few months. we certainly want to ascertain the status of the ptc system here. >> what do you know about the signaling in that area, chairman? especially in the dark at 2:35 in the morning when this happened. >> christy, we will begin correcting that information immediately. we will have a signal specialist to come in. each of those signal boxes has a signal recorder so we can download that and see what the stat cruc of the signal was displaying at the time of the crash. >> how long do you think it will be before you'll have more information in terms of what happened, how much time will elapse? >> great question. we should be -- we do plan to do a press conference this afternoon and tell what we know at that point. our guys and investigators are very good with being able to get the information that they need so i would say that later this afternoon we should be able to start confirming in

. >> i used to ride that train when it was t ptc. >> philadelphia trains corporation. >> no. >> that is when the fair was 25 cents back in the day. >> all right i'm out. see you at 7:00. join us when we have a newscast to finish. >> i will take over from here, you represent, yes. >> get the party started. >> quick chant while you go. >> e-a-g-l-e-s eagles. >> peace out. >> give it up. >> and make sure you stay with "eyewitness news" so you can get fired up for super bowl lii our fan fest special, coming your way, tonight at 7:00. >>> and then sunday night we will be live on the air right here on cbs-3 the moment the super bowl end to bring you live powe game comments from coach peterson and the players and give you a front row seat as fans react at locations all throughout philadelphia and the entire region the eagles, and "eyewitness news", sunday night, wow. we're getting there, kate. >> ukee's out the door, it is crazy, we are watching possibility of wintry weather right, on super bowl sunday. tell us about that. >> well, it looks like mostly rain for most of us but we are trackin

congress extended the deadline to install ptc by three years, we are in 2018, the new deadline is 2020these are private companies that do take some funding from the federal government, is that correct? >> absolutely. rob: why are we putting up with this? they are making money. >> what donald trump called in the state of the union address the crumbling infrastructure, it is all about public-private partnerships. the government can't pay for it all alone but private companies come in with the public-private partnership and this is the key that donald trump has tried to do with transportation secretary. it is all about public-private partnerships. that is how we will afforded and implement and move forward. all those deadlines are to extend 20/20 to establish those partnerships to get it done. rob: hopefully we can make some progress with an infrastructure bill. thanks for coming on this morning. 35 minutes after the hour. buyer beware, millions of people could be getting spied on through their televisions. is your tv one of these? remember when former president obama said this at the nat

amtrak ceo richard anderson discussed ptc is a telephone conference with reporters. >> it is important that ptc be implemented by the end of the year and that we don't give any more extensions. >> ntsb officials will hold a news conference this afternoon at 4:00 local time. >> eric: it's astounding that isn't in place right now. thanks so much. sandra. >> sandra: house intel committee chairman devin nunes in a growing showdown with democrats after the release of a memo charging surveillance abuses at the highest reaches of the f.b.i. and d.o.j.. >> people who were in the memo were the people who were most vocal about making sure the american public did not discover the corruption and the schemes that were happening with the fisa court. ♪ if you have moderate to severe plaque psoriasis, little things can be a big deal. that's why there's otezla. otezla is not an injection or a cream. it's a pill that treats psoriasis differently. with otezla, 75% clearer skin is achievable after just 4 months, ... with reduced redness, thickness, and scaliness of plaques. and the otezla prescribing info

so it is unclear if ptc hadn't been installed on the track and the amtrak train would have been workingh those signals being down, erica. >> one of the things you're looking into. kaylee hartung, appreciate it, thank you. >>> the release of the gop memo isn't just further straining the white house relationship with the fbi. my next guest says the world is watching and our foreign partners may be thinking twice about the information they share with us. directv has been rated #1 in customer satisfaction over cable for 17 years running. but some people still like cable. just like some people like banging their head on a low ceiling. drinking spoiled milk. camping in poison ivy. getting a papercut. and having their arm trapped in a vending machine. but for everyone else, there's directv. for #1 rated customer satisfaction over cable, switch to directv and get a $200 reward card. call 1.800.directv alright, i brought in high protein to help get us moving. ...and help you feel more strength and energy in just two weeks! i'll take that. -yeeeeeah! ensure high protein. with 16 grams of protein

railroad executives are now saying positive train control, ptc, will likely not be in place 2020.ional transportation safety board says the technology could have prevented a collision between an amtrak train and an out of service freight train sunday in south carolina and the derailment of an amtrak train in december near polar beer, washington. -- olympia, washington. russian cyber spies pursuing sensitive u.s. defense technology tricked key contract workers to exposing their email to theft. bearackers known as fancy went after dozens of people who worked at small companies and defensive giants, like lockheed martin, raytheon, boeing, and airbus. global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ we also have commodity markets closing in new york. let's get you an update. oil seeing its biggest decline since december. american wells can't doubt 10 million barrels -- american wells honked out -- pumped out 10 million barrels a day last year. at apiles are declining slower rate than average.

railroads across the country do not have automatic stop technology called positive train control or ptctalled. ntsb chairman robert sumwalt. >> fully operational train control system could have avoided this accident. that's what it's designed to do. >> reporter: initial reports are the train was going about 59 miles per hour when it struck the csx freight train. take a look at the passenger cars. they are off the tracks. investigators are now moving car by car inside there as they are trying to piece together what happened here. clearly it was a violent collision. killed in the crash was conductor michael cella and michael kempf. his brother, richard, said the death could have been prevented. >> somebody forgot to throw a switch. we're all human. we all miake mistakes. >> reporter: the freight rail line actually controls these tracks. the company in a statement said it's working with investigators and expressed its condolences but did not address why that track switch was out of position. the ntsb has recovered. that forward facing dash cam on board that train, it's being sent to washin

guys, the railroads have until the end of this year to get ptc in place as we've seen with some of thesey potentially would have made a difference back over to you. >> morgan, thank you for that report >>> in the meantime, take a quick check on the markets because we've been seeing red all morning. triple digits on the dow side. dow opening off 328 points nasdaq off 74 points the s&p 500 looking to open down as well, off about 23 points same story in europe we'll show you that screen real quick and we'll show you what's going on in treasuries right now. you're looking at the dax, cac, ftse 100, italian ftse and what's going on in spain down 1%, some cases 1.5%. treasuries real quick, flip that screen around now, 2.830 is the yield. a big hour ahead on "squawk box" as we try to understand what is going on and how the selloff may be manifesting itself. we're going to talk market strategy right after the break. >>> plus, it is jay powell's first day at work. he's got a tough first day he'll be sworn in. a rundown. what you expect for the powell a wh it could mean for the markets. stay tuned