michelle gerard, senior economist at rbs. let's get a bit of market reaction. our market monitor guestsays the stock market is in a quote, corrective phase. he's a senior portfolio manager of huntington asset advisers. so pete, how much of a correction and when does it happen, how long does it last? >> well, i think we could really begin grinding out throughout the course of the earnings season. our view is that really the earnings growth started to slow last year and that the market had really started to get ahead of itself. we think a lot of cash came back in that had gone out for tax purposes. it wasn't the fundamentaling making a difference here. so we think we could be in for a 10% percentage here. the market was getting close to the full year target. we think this could play ou uld be a gndingcrectn. we could see this go out over the next two to three months. >> let me ask you this, we saw a dramatic reversal in the dow today. it was down as much as 170 points. finally closed off 40 points. it seems like the stocks are resilient and the investors are kind

and because of the choice we made together we have renewed confidence like rb and b to stay and grow in your city where we've even attracted others companies to pull up stakes and move to the - our area of san francisco. we found that for every job created in the tech center more additional jobs are created outside in the other areas. we're a board based foundation for our city to extend the recovery to all our residents. all our board of supervisors shares we're making things once again in san francisco. providing jobs once again for all people in our manufacturing sector. there the conspirator leadership of kate and her board and with the continued support of our workforce and development our job growth has out passed decades of decline were we're putting people back to work in literally 35 hundred other businesses companies like the local mattress company. 18 rabbits and so many other backers. we're creating jobs in our other cities. once again thank you governor neuson that you let us know we can create more jobs in the automobile industry. we're reducing pollution air. we're att

i think we understood the same thing, but /tkp*rb >> it can be removed now or later. whenever you want. >> why don't we just go remove it now since we've had the discussion. >> we are going to hold that over for action at the next meeting. >> removal is atmatic first meeting and that's for 3x commissioner? >> yes. >> thank you. >> so that was the only item that was severed for discussion so we are now voting on everything on the consent calendar. miss lee. >> yes. >> miss wong. >> k 43. >> yes, except for item [inaudible] k 1, 2, 6, 7, 8, 9. thank you. >> doctor [inaudible]. >> i. >> miss wynn? and miss norton. >> yes. >> thank you. item p, consent calendar discussion none; q, none; r, none; item s, board members report. >> we just had a great update and report from nick [inaudible] on our sustain ability program. we will be updating books on a regular basis on this and our next buildings /aopbdz ground committee meeting is actually being discussed right now because we have a conflict on our regular meeting so we'll have that updated soon. right? thank you. >> okay. c

. >> before you start the work that the karen company did was associated with this l rb example p d correct? >> yes. >> because i did should i recuse myself. >> you don't have to recuse yourself but don't practice any discussion. good afternoon members of the commission and members of the public. i'm laurie i'm grateful for this opportunity to share with you about our thinking on long-range plans and get your feedback. i am joined by several of my usc colleagues. my office is responsible for all capital planning and we're responsible for updating our long-range master plan. so today, i want to talk about our long-range development plan process and our schedule as well as some of the key proposals for our key sites. so let me start to reacquaint you with us. we're one of the 10 campuses and we have a research and patient care. we're focused on health science and we have 0 small student population. we do have a large employee population of 22 thousand for one time staff which makes us second to the city of san francisco. we have a medical center that is a world leader in health care. our land

rbs of scottland paid 612 million. these are only fines paid to regulators. investors have not received restitution for their loss. a report from the charitable trust estimate the losses to the u. s. could be 6 million. the city of baltimore is in a class action lawsuit including brokerage funds caused by the manipulation. in january, san mateo and san diego counties filed a lawsuit as did freddie m.a.c., including j.p. chase and others. inspector general of the finance housing agency related that damages could be $3 million. last week, a federal court dismissed the antitrust portion of the baltimore lawsuit. this does not change the fact the banks have pleaded guilty to criminal misconduct. whether we lost 10,000, or 10 million, as a city we owe it to taxpayers to aggressively pursue this issue to hold the banks accountable. initial reports suggest financial managers were more conservative than other municipalities and we may not be as impacted as others. i would hope that we could use our financial expertise to lead by example on how municipalities can addr

remember no happy endings. [ applause ] ♪ k-rb captioning sponsored by comedy central ["the colbert reporteme music playing] eagle caw] stoonchts welcome to report. everybody. good to have you with us. in here out there all around the world. [crowd chanting stephen] thank you so much. thank you so much, everybody. [cheers and applause] all the ships at sea, nation i say it all the time, america's military is the baddest ass kickingest fighting force in the history of forever! [cheers and applause] you get in our way and we'll spend 10-15 years taking you down. [ laughter ] and our military just got a whole lot bad ass-er. >> for the first time the pentagon plans to deploy a weaponnized laser on a ship. this is slated to good off the coast of iran by next year. it shows the laidzer lock on to a slow moving target. in this case an unmanned drone. the drone soon catches fire and crashes into the sea below. >> stephen: if you think it's impressive wait until you see what this laser does to plane piloted by casts. [laughter] the point is, enemies of america, laser's on ♪ [cheers and applause] w

tampa bay sweeps the a's, 8 1-rb your final. >> to lab bore town golf links.long birdie putt put the pressure on mcdodoll then had 1t birdie putt to win you. can't be short. but simpson let him have it as he misses a ten-foot are for par. graeme mcdowell your rbc champion. >> more coming up at 6:00. >> that little ride to work dance. >> exactly, exactly. >> historic. thanks, shu. >> ahead, the effort to save a species from extinction and >>> coming up at 6:00. look at the mess left at golden gate park after thousands of people flocked to the are a big pot party. why you will now have to pay to help clean this up. >> after reese witherspoon arrested. what she said to officers -- gasp -- that got her in hot water. >>> sierra nevada bighorn sheep are once again roaming the southern end of the sierra never damp wait was quite an effort by the state wildlife workers who had to capture the sheep and then transplant them. wildlife officials say the sheep are toll rabbit and adaptable and this the first new herd at the southern end of the sierra for the first time in

be in a point to directing staff what should be components or not, just to explore the elements of rb a or other elements as well that could be packaged as options that will give us more flexibility down the road. >> can we add that in the resolve? >> it would read resolve that pga staff would explore with architects and team what rva items can be packaged as alternates? >> or other items. >> does that work? okay. all right. so that will read. >> so we will take that amendment, can we take that without objection? we'll take that amendment and we do have an action before us. do we have a motion to thaek take this action. >> so moved. >> you do have two members that would like to address this issue. >> i apologize, please come up for a public comment on this item. >> item no. 7. >> chairwoman kim and members of the board, my name is mike eleven. i'm a lifelong resident of san francisco. back when i was younger i commuted for two years and was well aware of the short coming even back then . when i learned of the plans, i was very excited. when i saw the rendering, i could not believe how

they are throwing everything at this, the police poured into one all rb of boston, watertown. they are searching for this man, 19-year-old dzhokhar tsarnaev. he has lived here for years. the family came from chechnya originally. dead,other tamerlan is shot by police. his uncles are calling for him to turn himself in. >> if you are alive, turn yourself in and ask for forgiveness from the victims, from the injured, and forgiveness from these people. >> the net) the two man hours after the fbi -- the net closed around two man hours after the fbi 10:30, the brothers tried to rob a 7-eleven store near the massachusetts institute of technology. then news a police officer was attacked. sean collier, 26 years old, was shot as he sat in his car. he died soon after. the brothers hijacked a car, and the chase that followed ended in watertown, 10 miles from boston. on the usually quiet suburban street, there was a fierce firefight, captured on mobile phones. the police were taking no chances. the innocent owner of the pect tvaycar was for a he died in hospital. >> the closed in around one

rb. >> now let's find out who is going to get the first pick in the first round and for that we havea very special guest. it is going to be theç judge as well. we need to know. do the coin toss. i do believe it is going to be -- >> the mavericks. come on guys. a little bit more excitement. >> so engrossed in thought that they couldn't throw papers. crash talking begins. you are on the clock. you have got a few minutes to make your pick. get to it. >> okay. in the meantime let's get some real trading action. bob is at the nyc. first to you because the markets are our bread and butter. what is going on in the stock exchange today? >> we're flat. we have seen the marks hold up. simp pli on rotation twochlt weeks ago it was all about defensive names. this week it's been largely about more cyclical names so materials and energy stock have been doing well. these rotations get shorter and shorter and shorter. now we have had three or four days of rotation. now the market isç simply flat. the one thing everybody believes is that the central bankss are behind everything. next week we will ha

the business leaders rb talking more about the economy. it is not growing the way it sheedz to be. good day yesterday. swhee today brings us. >>> the time 26 after the hour. coming up, it sounds too good to be true. a cruise for 38 bucks. you might change your mind when you hear which company is behind this. right now on this day in history in 1970 apollo 13 was launched into space. oxygen tank exploded two-days later but the crew was able to safely lureturn to work. flying is old hat for business travelers. the act of soaring across an ocean in a three-hundred-ton rocket doesn't raise as much as an eyebrow for these veterans of the sky. however, seeing this little beauty over international waters is enough to bring a traveler to tears. we're putting the wonder back into air travel, one innovation at a time. the new american is arriving. >> good morning. welcome to "fox & friends first". i am patti ann browne. >> i am heather nauert. extreme weather alert to bring you right now. overnight the midwest was hit with rain, snow and even twisters. this church in arkansas is now this mor

they rb launched at anytime -- they can be launched at anytime and surprise not only the the united statesn and south korea as well. >> they issued a statement on sunday saying her nation is ready for additional provocations from the north including tests. we are prepared leaving all possibilities open. for now, the best guess is that pyongyang would launch a test missal this week to honor the 101st birthday of the nation's founder and grandfather of the current leader. here in the south, both u.s. general james thurmond and the south korean general are can selling their travel plans. the situation on the peninsula is now too uncertain to leave. to escalate the situation, a russian news agency is reporting that the dictator is demanding a personal call from president obama. >> and we are just days away from the ominous day where all foreigners are out of the country. none of the embassies have made plans to evacuate and they will be watching and waiting and we hear indonesia is starting to evaluate its options. abc news, seoul, south korea. >> now to another threat. the bird flu. two more

rbs up 1.5% as well lloyd's is up despite sale of branches to a company in the u.k. and also we're responding to funding for lending scheme that british authorities just announced trying to boost lending to small and medium sized companies. we'll have more on the earnings coming up in the program. look over here. autos just slightly higher. numbers show stocks responding positively but the rest of the sector mixed. laggers include the consumer facing sectors, food and drink and retail down two-thirds of 1%. we are following a strong session yesterday where we saw gains in the range of 1% to 2%. footsie is up 0.6 of 1%. ibex is up 1.2%. more green arrows across the board for indexes despite one of the strongest performances yesterday we've seen in some time. here's what's happening in the bond space where again this wall of liquidity from japan or maybe you could argue it's from japan or argue that people are searching for yield continues to flow into markets in the italian ten year is now below 4% even as the country struggles to form a government. even as concerns a

they rb launched at anytime -- they can be launched at anytime and surprise not only the the united states, but japan and south korea as well. >> they issued a statement on sunday saying her nation is ready for additional provocations from the north including tests. we are prepared leaving all possibilities open. for now, the best guess is that pyongyang would launch a test missal this week to honor the 101st birthday of the nation's founder and grandfather of the current leader. here in the south, both u.s. general james thurmond and the south korean general are can selling their travel plans. the situation on the peninsula is now too uncertain to leave. to escalate the situation, a russian news agency is reporting that the dictator is demanding a personal call from president obama. >> and we are just days away from the ominous day where all foreigners are out of the country. none of the embassies have made plans to evacuate and they will be watching and waiting and we hear indonesia is starting to evaluate its options. abc news, seoul, south korea. >> now to another threat. the bird flu.

now a waiting room is just a room. [ telephone ringing ] [ static rbs ] [ beeping ] red or blue?orld's most beautiful woman to that most hated celebrity. getting a lot of ugly back lastly. this are to build the brand into a business empire and reportedly trying to emulate as the simpson. the mega success that she has had with her brand, which is estimated to be worth a staggering billion dollars. test the simpson. how was that possible? eneems peopl companies can hit a popularity tipping point. all the lovers become majors. we have seen a similar path with out as a brand bounceback? that is what we want to know. at representing several in touch quickly.senior editor thank you for joining us. let me start with you. want to ask you this rings true. this is a poll that came out of a competitive magazine. trow, the most hated,zine named. more hated them and have the like, chris jenner, taylor's with, who does not a tailor's with? or aided and chris brown. is she really that heated? >> you know, it has been bizarre anything -- it's jealousy. that is the only thing you can suck it up t

actually rb we becka. sorry. >> sorry, commissioner.a conversation about the social security disability programs, i think it is really important to start with facts. >> i hate those, but continue. >> i apologize because i'm about to spew a lot of them pz go to town. >> you start with the fact these are vital programs with people with significant disabilities. they a they subjects of facts. here of the facts. . is built stand the disability standard is t the disability standards in the united states are the strictest in the world. 60% or more of people who apply for these benefits are denied. the catch-all thoughts are misplaced and not supported by facts. many of those looking for benefits have severe diseases, cancer. one in five people have a disability. one in ten has severe disability. we are talking about a subset of people in this country with disabilities because the program, by virtue of a strict standard, is for people with most severe disabilities. >> is that persuasive to you? >> yes. i would say a couple of of things. one in

rb ubt lu december, i went and took every penny of debt that i had with the mavericks and personal debtd converted it to a yen loan when i think it was in the mid 80s. i have been really happy with it. >> i'm sure you have. >> you have a thought on apple? is the mojo gone? >> they're an old company. it's a 30-year-old company. they're going to have their ups and downs. it's not going to come as quickly as traders want it to come. it's not unusual for any company to go through a multiyear lull. so i -- apple doesn't have any special sauce that they can just make things happen instantly. they have been through lulls before. >> all right. mark cuban, entrepreneur, got so many titles we can't get to them all. >> it's been ten years. equal weight etf. it's outperformed the basic by 60%. next, where we will find out where the smart money is headed with the head of product development when we come back. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you'r

in the uk, for example, rbs is being mandated by its majority owner, the government, to move move away from its international banking investments and providing credit to the real economy. and deutsche bank, you know, can restructure and alive its strategy to take advantage of those that steps out of the market. but the regulatory costs are going to be huge and not obvious that these lines of businesses are profitable in the long run. >> good to see you. thanks very much for joining us, ollie. >>> now to russia has reported a better than expected 5% jump in its quarter sales. it's maintained its forecast for higher profits this year. this as the swiss pharmaceutical giant enjoyed strong demand for its drugs including tamiflu pp. >> the only fly in the ointment was the diagnostics business, can sut saw a bit of a disappointment. but clearly, what investors are focusing on today is the very strong outperformance in its pharma business. now, pharma revenues are growing 7% if the first quarter, once again, driven by a strong ecology business. we're talking avastin growing low double digits.

rb last year talking about what you would do to restore the economy and create jobs, well, now is theto do it. the absence of long-term unemployed people from the workforce means a smaller tax base, fewer people contributing to the economy and a loss of valuable capital from the labor market and stresses on the lives of the individuals, suicide, divorce, higher mortality rates, domestic violence and academic underperformance by the children. kudos to minnesota senator and the three other democratic members of congress who finally showed up after they recognized the urgency of the issue because they came to the hearing to address it. together 16 of you who had better things to do, it is time to reorganize your priority list because if not voters will be more than happy to put someone else in those empty seats. sincerely, melissa. when you have diabetes... your doctor will say get smart about your weight. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that diges

do you rb seeing that in your trips to the briefing room?> lyrics of any kind. >> ghoinlt that was. that sounded like queen latifah. that was some serious free-styling going on in the press room. i was very impressed. >> do you have more on this? what do you have more coming up at the top of the hour? >> first of all, jay carney had a great rejoin der of that. he said maybe he thought jay-z only said he got permission from the white house because he couldn't come up with a rhyme for treasury. that was a pretty good response from mr. carney. i have had my exchanges with him but you have to give him props for that. >> okay. props for that. >> we're going to be talking with senator joe manchin, one of two senators who came up with the bipartisan background check bill. we'll talk with him in studio and the pentagon press secretary with the latest from north korea. we'll be looking at the success of the app vine. are you a viner? >> i'm not a viner, but i know all about it. to me it's a video tease. >> six seconds. it's an art form. we'll be look

one of the most interesting discoveries made is there is a real jen rigs al split among rbs involving you really have a large part of the base, that is fundamentally opposed to it. and you have then a growing younger group of conservatives who are more libertarian, laissez-faire. that's okay. that's a split that will play itself out over time in republican circles. i don't think in the immediate short term you'll see a lot of switches other than for personal reasons, as senator portman did, or for senator kirk in this instance. but it also does show when it comes to what republicans like to believe about themselves, we say we're's a big pent. there is room in the republican party for both sides of this issue. and i think, frankly, the future is changing underneath republican feet on the issue. in is a generational split. and a split among republicans. >> there are at least seven democratic senators, gone na, who still have not endorlsed same-sex marriage. i'll put their names up on the screen so the viewers can see them and their pictures. matt what do you think, are they going to sta

i won an rb to tour the country when i turned 60. that is a big ticket.save in a broth. i would say the rest and account. he does not have enough say they will be a higher income-tax bracket for the retirement. i would go with the 401k. >> 9:18 a.m. and here's a look at our weather for this windy monday morning. are san jose camera has just been blowing around all morning long. you can see the camera is still shaking this morning. we expect breezy conditions to stick around with us all through this morning and all day today. the wind advisory isn't that right now until 8:00 tonight. watch out for down the trees and power lines, we've been saying that all this morning. when there is still high, and about of 22 mi. an hour, have monday at 20, san jose 21. we've seen gust of 2 30 mi. an hour. future cast four is focusing on the wind gusts for today but at 10:00 we will see when gust over 20 mi. per hour for much of the bay area. by lunchtime at them, still over 20 mi. an hour as well as 25 for livermore, san jose. we will say when the third tonight. even at

. >> i'm guessing, karen, you don't really agree with that as being the rb for the new jobs report. >, i think there are as most economists have said a confluence of factors. i agree the payroll tax i think may have been part of it. i think a number of things contribute to it. here is the political point i want to make going forward. the point is there is increasing anxiety out there among americans about what is going to happen with our economy, and this sort of kick the can down the road approach is increasing that anxiety. now, i think the danger or republicans, we've seen poll after poll and just recently last week this feeling that the republican party is not willing to compromise, is not willing to sit at the table and have a conversation. i think that has got to create some pressure i would hope for the two sides to come together because another bad jobs report, which, you know, i hope that doesn't happen, may be related to sequester but then i think it starts to say, come on, guys, when are you going to sit down at the table and fix the problem? >> traditionally the president

going to with the bridge for people preexisting conditions but the lady who came to our hearing, sorry rbter, you don't qualify and we are not going to make this available it you. bridge was built but we of ped it eight months shy the other side of the river. host: michael, new boston, caller., republican caller: good morning. i go disabled veteran and hospital.a. guest: yes, sir. host: 245 is government healthcare. guest: yes, it is. for all those folks that think this is a good deal, v.a. is a nightmare for veterans. this new healthcare plan ooks to me it is going to be 100 times worse. and about hiring people with no lots of themhere's that work at the v.a. hospital us. they don't care about call the pharmacy to see if your tell you eady, they come down and found out. then when you report them, you chest ranks on you -- close ranks on you and make you bad guy. this so, i feel sorry for all these to this king forward obama care because it is a waiting.e in host: comment. you for chael, thank your service. problems that he e-louis dates elucidates are indicative of what happens when larg

when we get people that want o kill us i'm sorry rb, that is necessary. have great day.t: hina shamsi, she says alaki was putting his son in harm's way. about that?think guest: i think that the son had -- well, facts that we know show he had no contact with his father. he had again out looking for his father and didn't know where he was. e was killed by a drone strike when he was eating -- host: one last question for both of you. clifford may? tsest: we have preceden sides. we use military tribunals and criminal courts for terrorists on american soil and abroad. there is a debate about which is better. probably ben appropriate in various situations for the time being. military tribunals have not been terribly well designed. i'm not saying you should never use courts to try terrorists. you should try to get as much information as you can. if we are refusing to get information by not asking questions of people when we can , we're making a big mistake and seeds.sewing the host: why is it important that you feel it was a crime? guest: that tells us all lot about what the acl

and michelle gerard, rbs chief economist.u're feeling good about where growth stands? >> yeah. from the q1 data is a disconnect between deposit spending and what was reported in terms of government contribution and gdp. we expect it will all get revised away. this is the first estimate. there's a lot of estimates that go into the estimate. in terms of second quarter we don't think it is as big of a deal as everything think it is. the main reason we don't, when the pain hits, people find a way around it. furthermore, the other thing people tend to forget, because you cut $85 billion in budget authority doesn't mean you have that in cuts. this is washington. this isn't the real world. real world cuts is half of that. >> michelle, where are you in terms of second quarter growth estimates in. >> we're around 2%. i don't disagree with anything drew has said at all. i think first quarter numbers were better. when you look at private domestic demand we had a much healthier first quarter print than i would have expected. but i will s

i regard him as being the gre great -- he respects no one and he rbs iger. >> iger is on the board.in mind. >> when we talk about media, by the way, it's been an incredibly well performing sector and it has been to the idea of cheap money and significant repurchases of shares by so many of these companies that have dramatically reduced their share count. and that was the earnings per share. >> media companies. they produce a lot of cash flow. a lot of free cash flow and you go look at share count. for the longest time they staid the same. >> at&t, you may not like the fundamental court, and i hope they do continue the buyback. >> and that's the key. >> that massive buyback that had been taking place and the fears that it will slow and it is going to slow is one reason along with what was not a great quarter that it did not slow this week. >> the buybacks are such that you even for a minute blink and there's that underneath bid. >> did you see the hospital change today? >> medicare came out with formulations on friday late in the day. i know we did the stock picking draft with the tw

rb heller and the s&p crossing its new introo day all-time high and the highs of the morning right now at post 9 after this. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> the budget itself arriving on the hill s

>> yes, and they go clip their rbs and make pesto and salad d even a dri with it. >> we're going t make. >> are you going to ask me to get up there? >> i thought you could give me a little push. >> i'm going to boost you up here? is this a good idea? >> h can handle it. >> what are we going for so i know where to aim? >> just don't knock me over. some laveer, parsley. >> she's going to be up there a while. >> you get to pick o. >> i'm going to go for se thyme. ready? oh it, i can't get it. >> she got the the. >> she's got the thyme, you got the muscle. >> good thing i didn'tat breakfast so far today. we're going to start withn herb salad. starting with arugula. and then we're going to add -- >> is that parsley? >> it's parsley. it's basil. throw some thyme in. some lemon thyme. i like to clip some chives as well for that sweet onion flavor. >> this is right up your alley, natalie. >> is that fennel that you put on top? >> natalie couldo it. >> i'll give you a boost. >> this is the great thing. wee going to dress it with a little vinegarette. i like to p some edible flowers. >> how do yo