>> all right, professor ritter, thank you very much for joining us. jay ritter, professor of finance at the university of florida. >>> and one big tech executive speaking out against speaking at one of the data bases. google's chairman, eric schmidt, said that widespread spying by the government on the company's spying would be wrong. he said his company has registered complaints with the nsa, president obama and congress. >>> and one of of the country's big home builders is where we

joining us is jay ritter, cor cordell professor of finance at the university of florida, professor ritter, good to have you with us. let's get one thing straight here at the top. who can get in on an ipo and who can't? >> the ipos are generally allocated to the most profitable of brokers, whether it is an institution or an individual. if you're not a profitable customer it is very difficult to get in on the most desirable ipos. >> approach, though, if the company goes public and say trades for a day or two, how do you know whether or not it is a good idea to get into something so newly issued? >> you don't. there is a lot of risk with young companies, twitter, for instance, might be very successful. or it might have temporary success like blackberry, and then run into some big problems. with any individual company, especially a young technology company it is very difficult to forecast the future. >> what are the facts with respect to whether ipo's trade typically higher six months, two years, than they do on their opening day or lower? >> on average, ipos do jump up on the first day of tr

he is using it to address ritter's claim in his own letter that, quote, you make fun of teabagers. we don't have official word this is an authentic word from the president but ritter is now trying to sell it for $24,000 online. the letter is just words on a paper. it doesn't mean anything to me because obama doesn't mean any of it. to me, it is a very healthy sign when a former president like bill clinton or a sitting president like barack obama sends a note like this, it is prove they aren't quite as insulated as we all fear they are. criticism does get through to them. they hear it, feel it and carry it around with them. sometimes, they just can't help letting someone know. ] ...as though he had never left. the end. lovely read susan. but isn't it time to turn the page on your cup of joe? gevalia, or a cup of johan, is like losing yourself in a great book. may i read something? yes, please. of course. a rich, never bitter taste cup after cup. net weight 340 grams. [ sighs ] [ chuckles ] [ announcer ] always rich, never bitter. gevalia. [ announcer ] always rich, never bitter. [ m

ritter never expected what would come next. >> my first thought was oh my goodness, there's no way. >s a handwritten note from president obama it defends the health care law saying it was not the smart political thing for the president. while he doesn't agree with all the president's policies, there's an example in the dialogue. >> he said we need to be able to talk to the other side. i like that. whether we listen or not, i like the fact that we can talk to the other side. >> but ritter says the words on his note have hallowed, especially in the wake of the obama care roll out. >> the words on that lost meaning. >> the card will go up for auction. regardless of the politics, his back and forth with the president is a story he'll be telling students for awhile. >> that was keaton fox reporting. >> more problems for the purple line. the endangered animal now causing a delay on construction. >> go ahead, give into temptation. how your love of food may not hurt your diet after all. >> you can join us online throughout facebook and twitter throughout the show. >>> people in northern virgi

thomas ritter was shocked at the rely which reads in part "i sincerely believe health care was reformight for the country but certainly not the smart political thing." he is auctioning it off for a minimum bid of $24,000. >> we showed you a fatal accident and leyla gulen has the latest. >> we reported this a few minutes ago it just happened. this is along eastbound 80 at 7th street where a truck fatally struck a pedestrian on the freeway. we have all lanes shut down and the transition southbound 101 to eastbound 80 will be shut down until further notice. we have backups coming away from the 280 extension. you can use 280 to get into the city leaving you at king street so there are ways to get around this. here is the picture of the sutro tower toward the skyway where all lanes are blocked and c.h.p. is on the scene. all lanes shut down eastbound 80 at 7th and you will need alternate routes with westbound traffic still open at this time. in weather we have a warm-up in the forecast certainly dry as we take a look at the day planner the next 12 hours, we are starting off cooler in our n

francisco medical center, the asian americans for community involvement in san jose, and san rafael ritter center. its part of a $150 million nation-wide grant. >>> san jose state's president has backed off from a plan that would have cut classes. some departments claim they were told days before registration they had to cut tens of thousands of dollars to stay within their budget. but the school's president released a statement saying the campus will use a one-time fund to go toward infrastructure. >>> the company that makes a popular line of yoga pants has a new response to quality complaints. the founder is suggesting some larger women may want to wear a different brand. company first heard complaints about thin fabric used in its yoga pants. now there are more complaints that the fabric is still too thin and that it peels. some women's bodies just don't work. >> topic certainly heating up. i just checked on twitter. you know what also is heating up on twitter. >> always. >> very popular. >> sal. twitter king. >>> yeah i lost my ten foot pole but i'm still not going to touch that last o

ritter flooding would become a common occurrence in some areas rising temperatures would cause of the already battered regions to become even try resulting in more droughts and gets an expansion in places like the sahel region in africa. bloody war desertification and the resulting shortage of food and clean water which forced many people to leave their homes making them climate change refugees. cut with animals and plant species would be threatened with extinction because they wouldn't be able to adapt to changing conditions. that's why the intergovernmental panel on climate change laws to limit the temperature increased to two degrees celsius. so the consequences are still manageable many contradictions do come true though one day in thai islands will be swallowed up by the oceans. those who live on the molding for instance fit for the home is very existence car the man to carry ons is seeking insight into new zealand having to catch himself a climate change refugees. fifty two has affected many images that already playing a rose and fussing and personification of the crown court to

and i just want to follow up on the question that senator ritter just asked. let me tell youmy understanding is, director. there are approximately nine institutions required by the cfpb to submit invest on credit card transactions. we've estimated that that's about $900 million. i'm not asking you to confirm that number, unless you will, today, but as that data is clerkted, it is not amoanonymou not de-identified. it's the whole story. that information is then transmitted to a third party who you have contracted with who then goes in and de-identifies it or makes it anonymous. and they create a personal identifier for each one of those accounts that is not -- it's a number. it's not the name of a person. am i correct so far? >> i believe that may be correct. but understand, nunl of that is new. if you're talking about arcas, which is a private firm that collects this information for credit card companies themselves and also has collected it for other regulators, again, the point is no investigation that arrives at our agency is permly identifiable. all of what

he's using it to address ritter's claim you make fun of tea baggers.entic word from the president. he is trying to sell it online. the letter is words on a paper. ritter told the new york post, it doesn't mean anything to me, obowl doesn't mean any of it. and i really got to disagree with him there. to me, this is a very healthy thing when a former president sends a night like this it's broof they aren't as insulated as we fear they are. criticism does get threw to them. they hear it. they feel it. they carry it around with them. they're human, sometimes they just can't help letting someone know that. by the way, you may feel leak you are having de ja vu right now. if you saw me guest host rachel madow, you heard me then. we felt we had to tell it again. i was the editor back within i had that exchange with bill clinton, he passed away last night t. name was peter cap lan, he was a legend in the new york media world. the observer was an incubator of writers happy to learn from and work with a truly one of a kind character. if you have a minute today, i

ritter's body would be found near the school. chisolm was found walking near the road.rs say that another student listened in on their final conversation. and when ritzer mentioned tennessee, chisholm's home state, the student says, philip became upset. once ritzer realized he was getting angry, she changed the topic. >> what went on every day, with this 14-year-old, really wasn't in school? what happened in tennessee? i think that the motive in this case is going to be a rage that's been building up in him. >> reporter: police say surveillance cameras capture chism following ritzer out of that classroom at 2:54 p.m. and into a second floor female bathroom, wearing a hoodie and gloves. 13 minutes later, police say chism walked out of the bathroom, changed his clothes several times and went back into the bathroom with a recycling bin. at 3:22, he leaves the bathroom, dragging that bin to the parking lot outside and towards the woods. police believe chism at some point, sexually assaulted ritzer. chism pleaded not guilty. police say near the 24-year-old teacher's body, a

and i just want to follow up on the question that senator ritter just asked. let me tell youmy understanding is, director. there are approximately nine institutions required by the cfpb to submit invest on credit card transactions. we've estimated that that's about $900 million. i'm not asking you to confirm that number, unless you will, today, but as that data is clerkted, it is not amoanonymou not de-identified. it's the whole story. that information is then transmitted to a third party who you have contracted with who then goes in and de-identifies it or makes it anonymous. and they create a personal identifier for each one of those accounts that is not -- it's a number. it's not the name of a person. am i correct so far? >> i believe that may be correct. but understand, nunl of that is new. if you're talking about arcas, which is a private firm that collects this information for credit card companies themselves and also has collected it for other regulators, again, the point is no investigation that arrives at our agency is permly identifiable. all of what

jenna: interesting, i'm just looking at bill ritter, he's fox sports national columnist for fox sportsl, and i was taking a look at his twitter account. apparently, he was the one that was going to get on the plane, and i'm actually seeing -- and i'm going to read through this a little bit, apparently he was there while this was happening. so let me read through this and get caught up. in the meantime, we have a guest standing by on the phone. patrick brosnan is retired nypd joining us. you know, we have very little details, pat, but in this type of situation, what's the first thing you do? >> first of all, it's an extraordinary situation, and it's unfolding rapidly. we don't have many facts as to what exactly apart from the individual with the rifle opening fire, but you can be certain that there's a frozen zone established, both local, state, federal and the airport police at lax are scrambling to establish perimeters and to get civilians moving out, you know? to preserve the safety in terms of the individuals who are stuck at the airport -- jon: pat, hold on -- >> we basically have

i also spoke with stacy ritter. she is the mother of twin girls who were diagnosed with cancer. stacy told me, without obama care her daughters would be in real trouble. >> my identical twin girls are cancer survivors. they have bone marrow transplants when they were 4 years old and required a lot of extensive medical treatment. very expensive. we capped out our coverage. we filed bankruptcy. had these provisions been in place, that wouldn't have had to happen. now we're protected from that. my girls can no longer be discriminated against for having a preexisting condition, thanks to obama care. my daughters have access to preventative care they need as cancer survivors. >> and finally, i spoke to one of congressman elijah cummings constituents. she told me obama care would have her protected from these greedy insurance companies. >> i started my business, i got sick. and i was not on a corporate plan anymore. and my insurance company dropped me. after i had been ill. $50,000 of bills later within my first year in business, i was speechless. i didn't know what else to do. it was

this came from thomas ritter, a fifth grade school teacher.xic environment. the reality is that any citizen that disagrees with your administration is targeted and ridiculed. i hesitated to write for fear of some kind of retribution. then the president actually responded to this. >> yeah. this is what the president said. he said, i believe that health care reform will be the right thing for the country. it certainly wasn't the smart political thing and i hope that in the months to come, you will keep an open mind and evaluate it based not on the political attacks, but on what it does or doesn't do to improve people's lives. sincerely, barak obama. and this guy, this thomas ritter, the fifth grade teacher in texas, says he's actually putting this thing up on-line for auction and he's hoping to make a pretty penny off of it because he doesn't believe any of the words on the page from the president. >> i think that's unfair to the president, to blame the president as being disingenuous for returning a letter. i guess in this toxic environment, as

cardinal ritter called together the student priests to recite prayers for the late president. "we were having dinner when we heard the astounding news of president kennedy's death. our hearts are pained." his stature as a petition is on the international scene was growing in the years of renewal. the french prime minister said it is atrocious and frightful and, "i am overwhelmed." the city of washington, d.c. for further developments, the switch now to david brinkley in washington. >> the flag has been lowered at the white house. the white house, the acting white house press secretary is acting in the absence of peer salinger who is in a jet lane over the pacific -- pierre salinger. they were on their way to a meeting and the plane turned around and heading back to hawaii and washington. the president's body will be flown to washington this afternoon. senator edward kennedy and mrs. sargent shriver, his sister, arrived at the white house a few minutes ago. they took a helicopter to angers air force base -- andrews. air force base they will fly to dallas to join mrs. kennedy. t

you know, with this weather outside, i had to bring member in members of team ritter. >> i know there'solks outside. and we hate when folks stand in the rain. it's likely today that the entire east coast has to deal with it. let's time it out as you know what's going on as you head into the weekend. you know what we haven't mentioned yet. >> it's friday. you're on your way to the weekend. happy friday. as we watch the front along the shoreline, the rainfall totals in new york and washington, d.c., the first part of the day. by midday and the afternoon, the rain is shutting off. it stays laying low in raleigh and tallahassee because the front bends down and hangs over the southeast a little while. it's a little longer duration in the deep south. there could also be some strong showers and thunder showers to kick up. i don't think there's severe storms. but they could be punchy. billings, minot, duluth, rapid city. this is back to normal. welcome to november. the bay area microclimate forecast, today, the brightest and warmest day we're going to have moving forward. i believe it's novembe

. >> senator ritter? >> thank you, mr. chair. and thank you, director, for being here. i want to go back to a topic that several members touched on, which is the massive data collection your agency is in the midst of. and i apologize if i repeat any questions. but i cothink it's important. so i do think it merits the time, at least. during your april 23rd appearance before us, i believe you asserted clearly that cfpb is not collecting personally identifiable financial information about consume rs. is that correct? or incorrect? >> no, i don't believe that i said that because that's not, in fact, correct. there's some very limited areas where we do have a certain amount of personal, identifiable information which as you know is a term of art under federal law. consumers come to us and they provide personal, identifiable information in order to make a complaint and have it be processed. they give us their name, they give us their address, they may give us their bank account information or social security number, whatever is necessary to process that complaint. and it's ve

jay ritter at university of florida, looking at 40 years of ipo data, on average if you don't get thermed its pier roup by 3%. basically a lot of that would be the people flipping and putting pressure, selling pressure on stocks. a interesting bit of food for thought. a lot of investors i spoke with, you know what? they're stepping back. one of them at savant capital management tells me you could go to vegas or buy twitter. in his mind it is the same. he is staying away from. tracy: a lot of people are stay thinking like that. rick, last question, what worries you? you wrote the risk to the s-1. i read it. i thought it sounded pretty risky. apparently people are not bothered about that. >> no not at all. we were pretty forthright in our base case it is really not about the risk area, i think it is about the likelihood really exceeding what they think they are going to exceed. i think today, at $46 we think people are assuming it is as ubiquitous and pervasive as facebook within the next 10 years. to put that in numbers, we think that valuation assumes we're 1.8 billion twitter users b

francisco medical sent, the asian-americans for community involvement in san jose, and san rafael's ritterr. the money is part of a $150 million nationwide grant to increase healthcare access. >>> 7:47. at 9:20, this morning, pacific time, security screenings at airports nationwide will pause to honor the tsa officer killed last friday at l.a.x. 9:20 a.m. was when gerardo hernandez, a father of two, was shot to death. he became the first tsa officer killed in the line of duty. hundreds of airports will hold a moment of silence. a public memorial will be held next tuesday in los angeles. the alleged gunman paul ciancia faces a murder charge. >>> a connecticut prosecutor wants the court to block the release of 911 calls from last year's sandy hook elementary school shooting rampage. a hearing is scheduled today about it. in september, the freedom of information commission ruled the recordings from inside the school must be given to the associated press which wanted to examine police response to the massacre. >>> 7:48. former donors to an animal rescue group in contra costa county, they are r

about that, and also with regard to the white house staff, walt rostow was a hawk and he told marie ritteron johnson than he ever did from john kennedy. and i really, really think that with roger hillsman telling me he was calling him in the evening saying we got to get out of there, we got close to those that knew him well. and lyndon johnson is said to have told generals i'm not going to be the first president to lose a war. you can depend on me to escalate and win this thing. so there is that. with regard to the transition, lyndon johnson was very gracious to mrs. john f. kennedy and there was an office provided for her in the executive office building where i was, and we were handling mail coming in from all over the world, and it was just extraordinary, because you would open the letters and you would see the ink had run on them they are -- their tears had fallen as they were writing the letters and there were letters from peace corps volunteers who said, you know what, in africa, they call us kennedy's children. they say he didn't send the marines, he sent us food. i had a experience

we will also take your comments overt ritter and e-mail what we will start with eric from jonesboro georgia on the line with those with employer insurance. good morning. >> caller: my comment is in the 80's ronald reagan got rid of the fairness act meaning -- and this is when tip o'neill shut down the government to stop ronald reagan from getting rid of the fairness act. ever since then we have seen a race to the bottom by the gop and the corporate types of the nature. tip o'neill tried to stop this, democrats couldn't stop it, the corporate media has been out of control brainwashing the public to the the the republicans are like the liberal media that all corporate media and of course corporations protect from taxes and regulations. the corporate media assaults the republicans because they help them out. so that means all media is republican media. anyway, on this point about cancellations, president obama said if you like your plan you can keep it. president obama why it. they know that these people like having a plan. they didn't cover hospitalization like the lady said earlier that have