on here in the background of the america's cup, i do have the best possible sources on the rhode island america's cup committee. when they were told that they were no long been -- no longer in the running, the rhode island america's cup committee went right on rolling with an ambitious to build part of a new waterfront to put in a bid to host a world series america's cup event, which they believe will be bigger than the america's cup matches they used to happen in newport. i can tell you on the basis of conversations in the last week with figures and said the america's cup organizing in rhode island, they have a bid for the america's cup world series regatta, and all they have to do is take be wide out, take out the world series, and they have the america's cup bid. >> i speak an endorsement of the america's cup, but with the special feature i would like to bring to your attention. let's speak about pier 30 and 32. if this new proposal is going to be -- it is a bit of giving away the family jewels. the only thing i can rely upon is this report, and the gentleman knows how to crunch numbers with h

america's cup to san francisco. as many of you know, for me, it is a generational level of support because growing up in southern rhode island where southern rhode island newport was the host of the america's cup for 53 years out of a 150- year tradition, of course, that enthusiasm is compounded once we knew that mr. ellison had won the cup, the san francisco should pounce on the ability to try to become the host here. naturally, we wanted to do everything we possibly could to work together as a city family to extend our families to secure that particular right. needless to say, the people of rhode island are a little bit upset with me, and i and my home town, as my mom likes to remind me. i'm sort of kidding. they said the politics thing does not work there. come back home. that idea is completely off the table. as it relates, i think, to index steps, we are very appreciative of the fact that the city family came together in what was amid very extraordinary circumstances. the board of supervisors, supervisors, room 200, as well as with the private sector to be able to proffer what seems to be the strongest deal that will po

. >>> the america's cup traditionally combines -- san francisco beat out new port rhode island for themerica's cup. >>> a gift shop is in legal hot water over balloon animals. in this case they are bookends in the shape of balloon dogs. a gallery and gift store shopped the items. but they have since heard from coons, he is claiming that he owns the right to that image. >> i think it's a gray area. i think the balloon dog existed long before he appropriated it. >> coons wants park life owners to stop selling it. but they say their vendor is fighting the lawsuit and they plan to keep balloon dogs on their shelves. >>> british officials released the first details of the wedding of prince william on april 29 april 29th. the arch archbishop of canterbury will -- queen elizabeth is ii will host a reception at the palace and prince charles will host a dinner dance that night. >>> the computer competition is heating up tonight in las vegas. already tv makers and aoc have unveiled new tablets. even more expected to be shown this week, including models from motor ole i from -- mote oriole a. >>>

i have been to and seen the great improvements made to other america's cup venues like newport, rhode islandn diego, california, valencia, and auckland, new zealand. we have an opportunity to host the oldest trophy in the sport, to bring the global recognition to our great city, and to bring over $1 billion in economic value and nearly 9000 jobs. we have heard that through the day. i would like to talk about time. time is of the fn -- is of the essence. teams are pushing very hard to learn what venue is going to be for the 34th cup. they need to know whether it will be raced in 25 knots or five knots. san francisco provides 25 knots. they need to know. the city also needs to know so we can start the ceqa process and begin building what we need to do it and deliver on our promises as a city. timing truly is of the essence. my profession is mergers and acquisitions. i have worked with larry ellison before in my other life, and i know from firsthand experience that he will walk away from a deal if it getsre- traded -- if it gets re-traded or renegotiated at the end of the day. we trust that wil

to see who will host the next america's cup and they're the ones who made the decision to bring it to san francisco. an 11th-hour newport, rhode island came into the running. that's because san francisco change the terms of their proposal. newport was the host of the america's cup for decades in but the very last minute they were unable to get there and package together for today's deadline in the were able to commit to the america's cup which is a shock to a lot of people. as imagine what it does come to san francisco the waterfront ec here will see renovations. we talked to across ross to see who this water was. >> this is the world couple sailing i think san francisco is poised to put on the most spectacular event. of worldwide. the thing or the perfect amphitheater for that. what propels that level of new revenues is going to be the tourism that this will bring and that will generate the kind of revenue that otherwise your ago would of been possible. >> we were talking early hint about a number of places that kept posting over and over again carry and this could stay in san francisco. >> that's a big thing to remember that a lot

america's cup. it started this summer when we were in competition with rhode island and san diego. we secured the rights to be the sole u.s. city under consideration. we understand that they continue to negotiate with other countries and we will be discussing that as well. we are on the home stretch of this process and we have come to appreciate what the process has brought to the offer. being in the public realm and having these conversations has really allowed the offer to improve, as well as getting direct public comment. it has given a greater level of certainty. not only for the team, but for the competitors. they have seen very publicly what is on the table. we have also demonstrated our ability. we have shown that san francisco can come together, show understanding, a just and crossed the finish line. this has been no small task and it is one of many tests we have been put through to show that we can do this. spending just a minute on the principles of the offer, first and foremost the opportunity to create a world-class facilities. the city would make land on the waterfront

america's cup yacht race. the city beat out newport, rhode island to host the prestigious regatta. nbc bay area's joe risotto jr. shows us what it means for the city by the bay. >> reporter: with its sweeping views and waterside dining, pier 23 bar and restaurants are a perfect spot to take in the san francisco bay. in just a few years it will be smack dab in the middle of the sailing world. >> i've grown up here my whole life, and san francisco bay has taken a back seat in a lot of ways, and i think it's just going to put it in the forefront and be very, very exciting. >> reporter: the excitement for pier 23 owner flicka mcgaern is that her business sits in the middle of plans to transform the waterfront into america's cup sailing village. >> i think it's going to bring world series excitement to the town. i think it's going to bring the sailing expertise to the bay to the public eye. >> reporter: under the deal larry ellison's bmw oracle racing team would spend up to $80 million fixing rotting piers and building racing infrastructure. in exchange, the city will award the group de

america. federal authorities carried out raids in three different states. new york, new jersey and rhode island. 120 people were arrested including alleged senior mob figures and corrupt union officials. the charges include murder, racketeering and extortion covering what the justice department calls decades-worth of offensees. >>> residents of a mountain view apartment complex are hoping an exterminator can eliminate a blood-sucking pest. bed bugs were dorph discovered in two units. exterminators are using heating fans to kill the pests that can cause itchy red welts when they bite. bedbug infestations in the u.s. sored by 81% in the last decade. >>> well, a man already on the inside of san francisco's city hall has decided to pick about a fight with a powerful city agency. the issue, parking tickets combined with election-year politics. >> reporter: with drivers now able to use everything from coins to credit cards to pay for street parking the transportation agency reports revenues from parking fines and tickets are down $7 million for the year. they are stepping up enforcement with parking

america that makes a difference. ii will close because i see my colleague here from rhode island. there was a company a few decades ago that became very popular called land's end. most people know it. it since has sold to -- seekers they own it -- sears, they own it today, land's end. when land's end was thriving, it was located in a small town in wisconsin. a lot of people wondered how could you run a big mail order operation in wisconsin. the answer was they had put together enough infrastructure that it worked. there were enough highways and enough ways to provide their product by mail and other delivery all around the united states. now we're in a new generation of challenge and that generation of challenge is calling for technology. the president last night talked about our advancing the technology of computer reach to make sure that we have high-speed computer accessibility across the united states. that technology, innovation and education is going to build a platform for us to be competitive. i think the president got it right. we deal honestly with the deficit. we don't d

rhode island sound. >> reporter: we'll hear from business owners from around the city and they'll tell us how they hope the cup will fill up their registers. david stevenson. >> the effect the america's cup is going top, patti. >> reporter: this competition has received so much attention here and across the world and all day people have been coming up to us asking us who won. drummer john king is celebrating, new year's eve and news that san fan san francisco will be hosting the next america's cup. >> that's great news, that's fantastic. that's kind of getting the world cup or the olympics. >> i will tell you, i would not be surprised either way. >> reporter: a city spokesman earlier today says that there's only minor changes. which includes oracle investing on pier 22, all of that for free rent and development rights. >> pretty important to me. >> reporter: on the street, a lot of people tell us why they watch the competition although they don't sail. >> even if you don't sail you can watch the competition. >> reporter: this is a historic competition, and if all goes as planned, bay area residents will be able to look out into the ocean and watch the sailors from this vantage point.

rhode island made pitches and san francisco looked like it might lose the bid. because it was too expensive said the city. the supervisor was on san francisco's america's cup committee. >> the alternate proposal required a lot less upfront and certainly not requiring the liability that was originally being asked of us. >> less expensive proposal gives ellison control of piers 30 32 and pier 27 where bower limousines is head quartered. gary schwartz is the chief financial officer. >> we've been planning on that taking place skpon the moon. we think it's a terrific opportunity. >> horn blower cruises says it can carry 4,000 people to the race course z their pokes person says the company will likely bring in more votes. >> this is going to be like fleet week on steroids. huge. >> the next races will be in 72-foot catta marchans capable of speeds excess of 50 miles per hour. the city will months of racing in september, 2013. hotels like westin st. francis says koit mean a 20% boost in their business. >> and are you saying people interested in yacht racing have two nickels to rub together. >> people want to spend money in great restaurants hotels shopping a

america's cup is coming to the bay area in 2013. the team headed by oracle ceo larry orson chose san francisco today over newport, rhode island. venues for the race will be built at several piers along our northern waterfront. ellison's group will invest up to $80 million for upgrades to the piers in x change for long- term development rights. the mayor's office projects the race could inject $1.4 billion into the bay area economy. >>> a powerful earthquake gave argentinian's a rude awakening this morning, a magnitude 7.0 earthquake hitting around 7:00 a.m. in the northern part of the country. not clear if there were any major injuries or damage. >>> violent storms ripped through the midwest, killing at least six people. three people died when a tornado touched down in cincinnati, arkansas yesterday. dozens more were hurt. the twister reduced several homes to rubble, as you can see there. cincinnati, arkansas is a very small town, only has about 100 people. nearly everyone is affected by the storm. >> i was in shock. i couldn't believe it. this is my hometown. i grew up here. everything's gone. it's all gone. there's nothing l