and in particular, thompson reuters and bloomberg. we now -- we talked about fewer foreign correspondents. 3,000 journalists work for reuters. 2,600 or 2,800 work for bloomberg. that's a lot of journalists. and that is driven by economic forces which are quite different from the forces driving what's happened in advertising-based media. it's all about sort of building a news halo on top of the big, monster, capitalist professional platform. there are some issues there, right? you know. and actually i wrote a piece for "cjr" a couple of years ago. is news going to be private? and are you going to -- if you're a member of the plutocrat, are you going to have privileged access to news and information? which is essentially part of the thompson reuters or bloomberg offering compared to everybody else. but you can't neglect to notice that that stuff is there. and then in the emerging markets huge news organizations are being built. al jazeera, the chinese are out there. the russians also. again, these have issues, but that's more stuff that

our general orders needed to be updated to reuter those sgt -- to be updated. those sergeant's assisted with direction and making sure things were done in a timely fashion. i do not think he will be coming back to the unit, and the other sergeant went to a patrol functions. >> thank you. thank you very much. inspector beaumont item 3b. >> review of recent activities, the statistical report, and companion reports for april 1, 2012 through april 30, 2012 and january 1, 2011 through january 30, 2011. >> good evening, members of the commission and members of the audience. first i will talk about recent activities, specifically about complaints activity that occurred on april 30 that is in your package. from april 1 we received 17 less cases and opened in april, but looking at those that were open during those years, there was only a five-cases giffords. -- difference. they closed 76 cases. april 30 they had 344 pending cases. today they have 340 pending cases compared to 460 on may 15 last year, so pending cases is dropping. a gooit is certainly smaller thn last ye

the reporter tracking the details of the timeline is alex debar of reuters. he joins us now from san francis francisco. great reporting. great story. it's got a lot of attention today. thanks for joining us. the most fascinating thing about it, too, is not only what morgan stanley did but it seems clear from your reporting that they were pretty selective in who they told. >> yeah. this is a tricky situation. if the analysts really had concerns -- he may have cut his estimates. then he passes that message on to the sales force at morgan stanley. they hit the phones. who do you call first. you can't call everyone at the same time. this happening in the middle of the road show has put them in a tricky situation. >> it certainly has put them in a tricky situation. i'm wondering whether or not this is a situation that might make it very difficult for them to get future ipo business. >> one of the things that's been brought up with some calls i've been making this morning, and take it with a pinch of salt. these are other underwriters on the deal. that morgan stanl

reuters. reuters? boys? reuters? all right. we're going with reuters. that's the right way to go, and you're up to $150. yes! all right, guys. well done. you went 3 for 4 on the $50 questions. these next questions are worth 100 bucks each, and they're a little bit harder. sometimes described as a misplaced modifier, this question contains a grammatical mistake called a dangling what? participle. participle. yeah. we're gonna say participle. dangling participle. that is correct! and that's good for $100. grammar! bring it on. finally that education coming into play, boys. all right. you guys are up to $250. well done. let's see if you can make it $350. in 2005, what jurist became the fifth catholic member serving on the u.s. supreme court? 2005. um... what's his name? clancy, manny? no. no. moe. [ laughs ] i'm gonna say john roberts. oh, no! strike two! ouch! who was it? samuel alito. samuel alito. oh! alito. forgot all about alito. all right, guys. that's your second strike. one more of those, and out you go. 25 blocks to go, guys. you have 2 strikes. y

reuters cited several who said we've got this information. we were shocked by it. we've never seen it before and, yes, it affected our investment decision. so, again, the s.e.c. has to look at this because it is just bizarre to me that you could have an estimate cut in the middle of the road show and not have that communicated widely. >> right. >> well, we'll certainly see how all that have plays out. let's switch to the issue at hand and that's the price of where facebook is currently trading. you take a look at the fundamentals of this and you say the stock is between $17 and $24. clearly there's a big mystery as to what this company should be valued at, right? >> that's right. and i thought all of your guests made great points both pro and con. i think where i come down is with patty to say, look, there are lots of possibilities for this to become an incredibly powerful business over the long term. sure they could go into different businesses that we haven't seen yet, payments and development platforms and so forth that could absolutely justify the ipo price and

that in reuters. >> the meeting will come to order. section 201 of 112, the budget for fiscal year 2013. we'll consider motions to ask for changes to the bill and rules committee. hr 4966, the sequester replacement act of 2012. the procedure is as follows. there will be one set of opening statements with 10 minutes controlled by the majority, 10 minutes by the minority, giving the time constraints i ask that members insert their written statements. i will hold the record till the end of the day. we'll then take up 30 minutes for members to ask staff any technical questions they may have regarding each bill. after voting to report the act we'll then debate any motions and then move immediately into a separate markup of the sequester replacement act. there will be four total amendments and four motions authored by the minority. on the motion there will be a total of 60 minutes of debate. today's meeting will likely take time to complete and we expect a series of votes. i think we have two votes at 6:30. i ask to be authorized to declare

guest: reuters wrote a story about mark a review. i think it was meant to be somewhat of a take down. they issued five corrections or retractions based on my reporting. some of the things they talked about were widely known and came out during the primary process. senator rubio had a heated contest against the then- governor charlie crist in florida. there were allegations of ethical and proprietary. he had used a republican party of florida credit card. he reimbursed the party but there were allegations of malfeasance that had been cleared up during the florida primary race. there were other issues they just got wrong. it happened a few months ago. some of the details now escape me. the fact that reader's -- writers -- reuters, a highly respected outlet, would issue five corrections points to the need for conservative and center-right new media outlets. 15 or 20 years ago, a piece like this might have been written about senator rubio. the washington post may not have got around to checking it out. the news outlets might not have. wh

most of it is based on press reports from reuters citing un- named sources who say, lead underwriter, morgan stanley cut facebook earnings estimates, clueing in big investors. but plaintiffs lawyers claim small investors were left holding the bag. >> the defendents are going to be harded pressed, after extracting $16 billion from investors for something that is not worth 20% or 25% less. >> reporter: facebook calls the lawsuits without merit and says it will defend the company vigorously. that job will be made harder, securities lawyers say, because the law in this case is considered plaintiff friendly. but facebook and its underwriters can argue they did their best to inform investors and even if they made a mistake, market forces played a larger role in pushing down the value of facebook shares. the bigger concern for the company may come from regualtors. in addition to the securities and exchange commmission's investigation, massachusetts' securities regulator has subpoenaed lead facebook underwriter, morgan stanley. so many people are now suing or investigating facebook, they coul

strict regional control. >> and speaking of spain, reuters reporting regarding bankia in particular,ting details on what the bank recapitalization might look like. reuters saying spain is likely to recapitalize through new debt issuances, but not by necessarily injecting bonds directly into the lender which would raise broader concerns about the roll of european central bank. >> let's get more on that. anna, nice to see you. while we wait for the greek election, it seems whatever happens with greece, spain is going down a certain path. how is it going to win when they still haven't got to the godden to the bottom and the spin off through the banks and mbing pressure? >> if it's disorderly could accelerate the process in spain, but even about we don't have something untoward in greece, as you said, spain has its own and will continue to suffer from that, i think part of the problem with what you were just discussing before, plans to kooe recapitalize, the problem is that people are getting grips that there's too much debt in spain. that's why there's a bailout sooner or later. >> publ

tom: nasdaq's role in the facebook stock sales also has come under pressure, and now according to reuters the new york stock exchange is courting facebook to move its stock listing to the big board. in the "market focus," the late- day rally in stocks pared down the steep losses we saw earlier. the s&p 500 was down almost 1.5% at its worst level of the session, but in the last 90 minutes of the day, the index came roaring back to finish with a small gain. volume picked up a little-- 859 million shares on the big board, just under two billion on the nasdaq. the sector leader was materials, up more than 1%. the industrials and consumer discretionary sectors each gained a little over 0.5%. one giant consumer-focused stock is at its highest price in more than a decade. walmart's has been adding to the gains since its most recent quarterly report showed continued turn-around with its u.s. sales. today's 1.3% gain takes w-m-t to a 12-year high. two online consumer stocks also were moving up.mo travel company expedia gained almost 7%. investment firm piper jaffray sees a strong pick-up in web tr

live pictures, take a look from our reuters short this morning.all goes as planned, this is going to end the year long military transition that egypt has been in for a year. this is being closely watched not only by this country but also israel to the north. >>> not a whole lot of suspense left. mitt romney picked up two more primary wins, and he's in position to officially clinch the republican nomination next week. taking kentucky by 67% and arkansas by 68%. romney now less than 100 delegate as way from the magic number, 1,144. >> you think it's going to come in texas? >> i think it's going to come in texas. >>> not another good day for this guy because verdict watch continues for john edwards in his corruption trial. back again. it is the third day that ended with no answers, no verdict, but a request, though, of a review of some more evidence. they're going to have to decide whether money funneled by two supporters to edwards' pregnant mistress rielle hunter were campaign contributions or merely just gifts. >>> days before he was scheduled to

reuters reports u.s. airways may team up major private equity firm t.p.g. capital to bid for american. a global maker of mining equipment didn't help the mood of the market today. joy global said it expects revenue to remain flat and order growth to slow down as customers deal with a drop in demand for commodities. shares fell to a 52-week low on that forecast, shedding 5% as volume quadrupled. the company warned new orders were down 19% in the second quarter, pushing the firm to cut its earnings outlook for the year. in our exchange traded fund market flash, a mixed finish this last trading day of may. the two gainers, the financial sector e.t.f. up nine-tenths of a percent. and the emerging market's fund up less than a half percent. and that's tonight's "market focus." >> tom: the prospect of lower gas prices has more americans thinking about vacations this summer. more than half the customers surveyed by online travel company orbitz say pump prices will affect their travel plans this summer. it could even determine how far they drive. we continue our loo

this the treasury's first ever direct relationship with a foreign government dats all according to reuters. we will discuss it let's get to today's capital account. our next guest has called regulators such as the office of controller of the currency and the federal reserve the dogs that once again failed to bark in j.p. morgan's trading loss that multibillion dollar trading loss those are j.p. morgan's main regulators now meanwhile it was two other regulators we heard from on capitol hill today that as easy and this the f.t.c. on derivatives reform and of course j.p. morgan was a large focus of the hearing now officials said investigations of j.p. morgan are under way at both of their agencies fittingly news comes out that j.p. morgan has hired a former s.e.c. enforcement chief to assist the firm and probes of its loss on credit derivatives trading according to reports how fitting this just all is one insists he was big circle to talk more about it william k. black is here he's associate professor of economics and law at the university of missouri kansas city and it's really so great to t

treasury has a much easier route to purchase more according to reuters the u.s. treasury has given the people's bank of china a direct computer link to its auction system so china is now these first foreign government they just can bypass wall street bypass primary dealers just go straight to the treasury buy more debt what it was like we just want to cut out the middleman we want to make sure that there is like you know straight to the vein. like the stars to me like what they're doing is they're taking the they're saying for everyone else that you want to get smacked you've got to go to the dealers in the street but if you're china if you're the u.s. and you want to get you want to get your fix you can go straight to the free to the store or to the source like denzel washington in the movie where you put that drug dealer for he was the source in vietnam or where it was but my point is you know maybe this is so that off the pier that actually spread the gold and makes. you know being a broker primary broker dealer so. i mean to be fair they should probably get s

that's according to the reuters news agency.se explosions heard in afghanistan are now being claimed by the taliban according to reuters. we continue to work to get you more details and we'll bring them to you as soon as we get them. >>> secretary of state hillary clinton has landed in beijing to talk to the chinese government. they're questioning the whereabouts of a chinese activist who escaped house arrest and may be at the u.s. embassy in beijing. the united nations today accused both sides of violating a cease-fire agreement in syria. the chief u.n. peacekeeper said the syrian regime continues to deploy heavy weapons in cities. this video purportedly shows tanks today. opposition activists said at least 43 people were killed across the country. separately, 12 syrian soldiers reportedly died in clashes with military defectors. >>> and an fbi sting has led to the arrest of five men who allegedly conspired to blow up a bridge near cleveland. authorities say at least three of the suspects are self-proclaimed anarchists. >>> and

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. >> this is the point of reuters, absolutely. but he apparently got it cut of the fees as well as the profits of this hedge fund. and they're in the same markets that chesapeake operates in. did he have any information? >> i mean, listen. he's a charismatic figure. that's one reason why we talked about him so much. you have to be to do what he did. he built a company up from nothing. but he's gone his own way. now you've got a board feeling a little bit more empowered. clearly coming out sharply and saying you've got to try to take control. i don't know about this hedge fund story, we will see. but it's potentially troubling. >> true. just the production stuff that you were just talking about, melissa. they can't shut drilling and production fast navarre. >> exactly. so we have a story where the ceos ethics, corporate govern nance is in question and the fundamentals of the business are in question. there's about 9% of the fer market session. so meantime, it is the ipo that wall street is waiting for. and the road show is what we'

i think about three weeks ago, reuters did a poll asking for people's top priority in this election.d jobs and the economy. 14% said health care. 9% said family values. nowhere in this mix was gay rights issues. i think the reason why we're talking about this, and the reason why it's exploded on mitt romney is because the economy is terrible, the obama administration, the obama campaign don't want to talk about the economy, they want to talk about extraneous issues, and conceivably important ones, but not issues the public are concerned with. >> noel, you can finish your thought, and i understand what you're saying, it's about jobs, i get that. but noel, quite honestly, that's a talking point. because this wasn't about gay rights. this was about foreign policy. he just happened to be openly gay and there were some tweets, but he is not in the job for foreign policy to make an issue out of gay rights. >> and i very much agree with that. foreign policy in that reuters poll -- >> but you're not explaining why or giving a good reason for why he had to step down that didn't have to do wit

reuters is reporting the economy's moderate recovery is still on track.till on track, job creation. a new reuters survey reveals employers are expected to add 150,000 jobs to their payroll. that's at the same time that europe is dealing with economic crisis and china's economic, their economy is pretty much slowing down. mitt romney thinks that we can't access the truth. on january 7th, romney claimed businesses he bought and sold at bain capital added a net 100,000 jobs. no one has been able to verify that number. the washington post said the figure didn't pass the laugh test. mitt romney, you know what he needs to do. he needs to come clean and give the facts about these hundred thousand jobs that he created. 100 jobs. i doubt it's going to happen. there's a lot more coming up. stay tuned. >>> he doesn't like that issue because it's hitting very close to home. >> donald trump's latest conspiracy theory. president obama is tricking reporters to ask birther questions. >> he uses reverse psychology on people like you so you report like he's throwed with it

now let's talk to david cay johnston, pulitzer prize-winning journalist and columnist for reuters.about this. well you know, i know what their justification is. it's i am creating jobs. is that remotely true? >> creating or saving jobs. let's assume it is true for the moment. if that's the case then let's give up the pretense that we live in a market society of corporate socialism. and these companies are unable to earn a profit unless they get money from the government. >> yes, that's a great point. unquestionably corporate socialism, but you can go in the other direction, when you merge state and business, the state is saying i am going to tax my people and give businesses the money. and they are not going to create any jobs with it they are just going to get it. when you merge state and business, isn't that always fascism? >> it certainly can become that and without a question, cenk one of the sees is the workers don't know. they are credited with having paid the taxes, and no law requires they be told about this. a few companies, general electric is one of them have told the wo

i know miami is playing without bosch, but tonight it was a local hero, reuter hebert, who tattooed them. 94-75. a 2-1 game lead. dwyane wade the head coach got into it. wade had five points. talk about heat? that is not good there, folks. the baltimore ravens were surprised when ed reed announced he was not one letter% committed to playing this season. that is what he told siruius radio. they have already lost terrell suggs. ed reed would be 34 in september. i have talked a lot about the new orleans saints. now jonathan vilma is suing nfl commissioner roger goodell for defamation. [laughter] ♪ ♪ [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding clear calorie labels so you know exactly what you're choosing... and in schools, replacing full-calorie soft drinks with lower-calorie options. with more choices and fewer calories, america's berage companies are delivering. >> we are in the final week of our facebook g

we understand he has talked to the reuters news agency. he has repeated he wants to leave the country with his family. certainly the sensitive topic for china and america. the u.s. secretary of state, hillary clinton, will come under pressure on this point particularly as in the past, she has spoken about chen guangcheng's case so publicly. >> the u.s. might come under pressure. china wants to apologize for their alleged role in this -- his escape. is there evidence of the u.s. in this case? >> the chinese authorities have said he was taken into the embassy through what it called at normal channels. certainly the american officials confirmed that and said it was a humanitarian case. they said he was given medical treatment in the embassy before leaving to the hospital yesterday. certainly from china opposing point of view, there is a great deal of anger over this case. this has been a huge embarrassment for beijing. once again it is the focus -- puts the focus on the issue of human rights and that is something beijing does not want to see

reuters and the associated press " anonymous sources saying that facebook is in talks with the nyse buto far no one is officially commenting. >> california's financial problems are starting to hurt gov. jerry brown's popularity. the public policy institute shows 43 percent of likely voters disapprove of the governor's top job performance. 42 percent approved. is that in public opinion registered days after last week's announcement that california's budget deficit had grown to nearly $16 billion. >> a comment a supervisor made about a week the board has people riled up. >> trying to figure out what harvey milk would have wanted, so we decided to do something unique in the office and we got out the week keyboard. >> analyst made those comments tuesday when the board was discussing how harvey milk would feel about having a vessel named after him, a naval vessel. he told us that it was called just a joke. >> just poking fun at the the board of supervisors. and people trying to say what part you would have wanted. i thought it would be fun to have a seance. >> he says the closest he has come

in particular, will come from reuters and bluebird. -- from mortars and bloomberg. -- from reuters and a lot of journalists. -- from reuters and bloomberg. it is all about building a news halo on top of the big, monster, capitalist, professional platform. there are some issues there. i wrote a piece a couple of years about this -- a couple of years ago about this. if your member of the plutocrat class, are you going to have privileged access to news an intermission? you cannot neglect to notice that that step is there, and then in the emerging markets, huge organizations are being built. al jazeera, the chinese are out there, the russians also. again, they have issues, but that is more stuff in this space. having said all that and returning to my canadian routes, i am actually a big believer in government supported news -- returning to my canadian roots. to me, what has happened is not a lack of information. we have more, and more is good, and more direct than ever before. what i think is missing, and i see in this a big reason why u.s. politics are quite different from canadian or eve

he's turned over his own michigan birth certificate to reuters to the news agency which requested iter some birthers brought up the fact that they believe he was born in mexico but actually that birth certificate pretty clearly shows that mitt romney was born in detroit. >> tracie potts live on capitol hill. thank you. >>> and romney's win has pundits thinking about his v.p. choice. that has the spotlight back on virginia governor bob mcdonnell. he got behind romney long before it was clear who would win the nomination. the governor's popularity and virginia's key role as a swing state puts mcdonnell on many vice presidential short lists. for now, the governor is not taking the bait. >> anybody who get a call for the party's nominee and says you can help our country, our party, of course, you'd listen. i've got the best job in america. the job held by thomas jefferson and patrick henry. i'm not looking for anything else. >> he told wto p that he is not being vetted by the romney campaign and is planning to finish his term as governor which ends in 2014. >>> today the newest d.c. coun

those two topped today's reuter ipso's vp poll of republicans. there's virginia governor bob mcdonald, who hosted romney today and got a tryout taking on president obama. >> well, you remember three and a half years ago we heard that tune about hope and change? and now what do we have? we have recession and division and malaise. it's time for a change. don't you think? >> yes, sir! >> reporter: one possible gop vice presidential nominee. but romney could pick a runningmate to specifically help him with tea party conservatives or moderate, independent women. i'm steve handelsman, news 4. >>> well, there are a lot of folks walking around here in the washington area today with sleep in their eyes thanks to the caps. >> a lot of yawns and long faces. last night's game three was a real thriller if you stayed up, a triple o.t. game with a disappointing finish. new york rangers scoring the game-winning goal after midnight. the two teams basically played two entire games at the verizon center. the rangers won, 2-1, and now lead the series, two games to o