robert frank has more. >> the most exciting two minutes in sports was exactly that on saturday. kentucky derby favorite american pharoah did not disappoint the record breaking crowds at churchill downs for the 141st run for the roses. the undefeated 3-year-old thoroughbred raced past his undefeated stablemate dortmund in the final stretch and outpaced firing line by one length. it's the first time his owners ahmad and justin zayat have ever won the race. >> i still can't believe it, okay? >> i feel like i'm dreaming right now. don't wake me up. >> a big win for zayat who has been racing horses for ten years. before racing zayat earned the largest beverage company in the middle east. the winners bring home the roses. the tr and $2 million in prize money. >> hopefully the preakness. >> baltimore. >> american pharoah is now the favorite in the preakness in two weeks. the second leg of the triple e crown. for "nightly business report," i'm robert frank. >>> and that's it for "nightly business rep" i'm sue herera. >> i'm tyler mathisen. thanks for joining us tonight. . announcer: "im

robert frank and steve liesman are on that story. what are the different views?lanning to leave huge fortunes to their kids. we will tell you how much and why they are pessimistic despite all that moan. >> i believe that children are the future and let them lead the way. >> the american dream is still alive with the middle class. we will tell you all about this when we come back. blap # hello. i am technology that is changing investing forever. i am a fully automated investment advisory service. i can help you choose the right portfolio. monitor it. and even rebalance it. i've been called innovative. revolutionary. and just plain smart. i'd blush at the compliment if i could. but i can't. so. i won't. say hello at intelligent.schwab.com >> robert frank and steve liesman are talking about how the wealthy are feeling about their kids in the future. >> they plan to leave the vast majority of their kid and leave less than 10% to charity. the majority of millionaires plan to leave at least $1 million to each of their kids with 40% leaving a million dollars or more and

robert frank joins us now with a story of mud, sweat, and cheers. >> this has been a remarkable journey. a owner that started off selling beer in germany. they could make history. >> two years before american pharaoh won a race, he sold for $300,000. he earned more than $1.4 million in prize money. his value was pegged at about $10 million. in a sport filled with old money, ahmed and his son just tin are newbies. they started zayat rating. they have placed three times. >>> out of 41 winners, i'm one of them, it's history. i can't believe it. >> the prize they walked away with was just the beginning. when american pharaoh crossed the line, his value was estimated between $15 and $20 million. that is based on racing performance, physical shape, and most importantly his potential to breed another champion. two weeks after the derby, in a torrential downpour. >> why is the weather doing this right now? >> american pharaoh stormed the track and reigned supreme once genuining by seventh lengths. his value was upped by another $5 million. the next stop was new york's belmont stakes where the m

for nightly business report i'm robert frank. >> good luck to him. >> that does it for nightly businesst for tonight. i'm sue herera, thanks for . announcer: "imagemakers" is made possible by the members of kqed. woman: flight 453 boarding gate 31.

for nightly business report i'm robert frank. >> good luck to him. >> that does it for nightly businesst for tonight. i'm sue herera, thanks for . d to support miss fisher's murder mysteries on public televsion. barnes and noble has a smart se lection of books educational toys, games, music movies and our award winning nook tablets and e-readers. visit your local barnes and noble today or shop online at bn.com. acorn proudly presents miss fisher's murder mysteries. [ rustling ] [ groans ] wait! let me out! let me out! no!

robert frank has more on the spring auction season. >> nearly two million worth of art is expected toat sothebys in christies. a growing demand by rich collectors by fine art is expected to keep breaking sales report of the sale is likely to become the most expensive painting ever sold at auction tonight. the piece was one of a series of 15 paintings by picasso, this one is considered one of the greatest picasso masterpieces still in private hands. >> by the 50s when he was starting to create the sweet in 54/55, it was as if he was revisiting his youth, and the works began to become more punchy and angular again. christies has put an estimate of $140 million on the painting meaning it's likely to shatter the current record holder $142.2 million. >> as an investment they've done better than the stock market. the famed collector bought the entire series of 15 pieces in 1956 for $212,000. version o was sold in 1947 for 48.4 million including auction fees. it's tripled in value, while the s&p 500 has roughly doubled. another piece that's likely to break a record is this sculpture called m

robert frank talks some horse sense. >> two years before american pharoah took first place at the derby, before he would run even a single race he hit the auction block in saratoga springs, new york selling for 300,000 dollars. over the next year he won five races. purses totaling $1.4 million before setting the foot in the run for the roses derby, experts pegged his value at around $10 million. this big derby finish at churchill downs made him worth much more. some of the top thoroughbred blood stock agents now estimate his value between $15 million and $20 million, based on racing performance, physical shape, and most importantly, his potential to breed another champion. he is now the favorite at preakness and if he goes on to take the triple crown experts expect him to rule the thoroughbred world vals north of $30 million. for "nightly business report," i'm robert branch. >> they are such beautiful horses. >> i think he has the number one pose position so that is helpful. >> i don't know that much. but i love to watch it. that is it for "nightly business have a great weekend. >> enjo

robert frank, this gets right to your wheelhouse of inequality. >> there are two things he said that struck me. the first is very important where he said the poor aren't poor because the rich are rich. that's something that a lot of people see him as a left leaning business person and for him to just put that out there at the top was very important. it sounds obvious but coming from him, it's a really important point that wealth of the wealthy is a different issue for why the middle class and the poor are struggling so much now. the second thing is he lays out all of this global technological issue that's expressing wages. the solution which is the earned income tax credit seems so minor relative to that broader sort of danger that's facing workers at the top. earned income tax credit is important, yes but when you talk to economists it's a small fix around the edges when you look at the broader issues facing the middle class. >> what he's trying to do is say you can't legislate, you can't legislate prosperity for the working class of americans. >

robert frank joins us with a story of mud, sweat and cheers. >> this has been a remarkable journey. a thoroughbred owner who started out selling beer in egypt and horse born in kentucky almost sold off two years ago. next saturday together they could make history. two years before american pharaoh ran a race, he hit the auction block in saratoga springs selling for $300,000. over the next year he won five races earning more than $1.4 million in prize money. at the time, experts pegged his value at around $10 million. in a sport filled with old money and families who have been at it for generations, he and his son justin are new byes with an impressive record. they started the stables in 2005. just ten years of racing, they placed second in the derby two times finally taking home the coveted title of kentucky derby champion with her them bred 3-year-old colt, american pharaoh. >> 141 winners, i'm one of them. it's history. >> $1.2 million prize they walked away with was just the beginning. when american pharaoh crossed the finish line, blood stock agents estimated american pharaoh's

helicopter flights in the area but wealthy residents hoping to keep the skies free for themselves robert frankils, hey robert. >> reporter: hey carl you could file this under billionaire problems. hearing has just started in the courthouse behind know decide a new rules that would limit or disrupt thousands of helicopters that take the wealthy to their beach homes in the hamptons. they have an evening curfew as well as limiting to one takeoff and landing per day. now those flights have increased dramatically in recent years with crowd sourcing and special apps that make that seat from new york to the hamptons $500 and last year there were 15,000 private flights into and out of hamptons. some busy days more than 300 flights into and out of east hampton. now the biggest impact would be on the charter companies like blade, they're not commenting but talking about using seat planes as well as other airports like month talk to reroute around east hampton. another company called gotham air who just came up with a different approach. they purchased new anti-noise helicopters that are very quiet, that

robert frank will it do it? >> it probably will.last year with over $250 million. christie christie's is expects to auction off a painting of women of al jeerengineer -- algiers. it will become the most expensive painting ever sold at auction. the piece was sold to anonymous bidder to $48.4 million. the price has tripled. they will also auction off the sculpture of "painting man." he created the piece to symbolize man's hope of moving forward. it could make it the most expensive sculpture ever sold. not bad for one night's work. let us know how it goes. >> i will. >> what do you got? >>> the bold zillow upgrade ahead of earnings. >> listen in on the radio, too. thank you for watching "power lunch. "closing bell" with kelly evans begins right now. >>> hi welcome to "closing bell," everybody. i'm kelly evans down here at the new york stock exchange. >> welcome back. >> it's good to be back. you're not allowed go on vacation anymore. i'm bill griffeth also here at the new york stock exchange. a down day, we've pulled back a bit. but ju

he's walking right there. >> robert frank. can see anyone here from the window. >> am i like that when i get out of the cab outside. >> he's looking for a phone booth to change. >> he's coming up next to talk about the auction. >> is there something that the data points you too? >> it's trying to lower the costs and they say they have solutions by trying to manage the things together and have different formula plans putting the lower priced drugs higher. that's what they have been trying to do in hepatitis c and they're threatening in do in other areas coming up. >> if people exercised more would they be -- we have to go. >> prevention would be the less way to go. >> thanks. >> meg thank you very much. coming up a top ranked company on our list of cnbc disruptors. it's called lisnr and it could revolutionize how we do everything and shop and how we listen to music. we'll explain next. the network that monitors her health. the secure cloud services that store her genetic data the servers and software on a mission to find the pe

robert frank with some of those staggering numbers. >> over $2 billion of art sold in just 48 hours.ow the highest grossing spring auction season ever and the sales aren't even over until tomorrow. christie's wrapping up its evening sale last night with $659 million in sales. that follows their $700 million sale monday night giving them just over $1 billion in 48 hours. the headliner last night was called number 10 that went for $82 million. that was twice the estimate. huge huge price for that piece there. now, andy warhol's mona lisa went for $56 million and the controversial nude called benefit supervisor resting. it's all in the eye of the beholder went for $56 million, also above estimate. the art market is now more top heavy than ever. the top five sellers alone totaled more than a half billion dollars and all five were sold by christie's. whether christie's made much profit at all because of all the guarantees they made is a mystery because they're private. it was the most global selling season. asians accounted for a third and christie's came from 35 countries. the buyer for

robert frank is here with the story., robert. >> this could be the biggest sudden wealth loss in all of history. china's richest man lost $15 billion in wealth in just 30 minutes. li is the chairman and biggest shareholder of hanergy and shares fell by nearly half after li failed to show up for the annual meeting. the company is under investigation by securities regulators in hong kong for stock manipulation. the company shares are up more than five fold since september and that helped li surpass jack mah as china's richest man no longer, of course. in a similar crash in hopping kong, shares of golden financial and golden property fell by nearly half. that shaved $11 billion in wealth from its chairman. pan was the second richest man and he's known for his love of the finer things in life. he hangs out with prince william at polo matches and owns vineyards around the world including three in france. in 2011 he bought a vineyard in napa valley for $40 million. in both of these cases you have huge run-ups in shares that ar

robert frank has the story from long island this morning and it is getting a lot of people crazy, robertary here today, but normally this friday would mark the start of the summer season here in the hamptons and the beginning of helicopter madness when all those private choppers bring the rich and famous out to their beach homes. but this year a case being heard today behind me could ground many of those hamptons helicopters. now, these could be rules that include a curfew on noisy aircraft into east hampton between 8:00 p.m. and 9:00 a.m. as well as rules limiting each helicopter to only one takeoff and landing per week. per week. so that's a big imposition there. now, the limits would mostly affect the charter companies. last year just for perspective, more than 15,000 helicopters took off and landed at east hampton airport. we talked to charter companies like glade, they're not commenting and fighting these rules. but blade is looking into diverting some flights into other airports like montalk or west hampton or southampton and using sea planes instead of helicopters. some other char

that is a story for robert frank with all the details for us good morning, robert. >> good morning, tonightether the prices can keep going higher and we could see the most expensive painting ever sold at auction. expected to auction off a half billion dollars worth of art this evening in a special sale. the spring sale that end this week could approach $2 billion. now the big headliner as you pointed out of a picasso, the women that many say is the greatest still in private hands. it could sell for more than $140 million. if it sells for more than 142.2 million, it'll be the most expensive work of art ever sold at auction. it was last sold in 1997 to an anonymous bidder for 48.4 million, the price tripling more than tripling since then. now they will also be auctioning off a sculpture. it's called pointing man, estimated to sell for 130 million, that would make it the most expensive sculpture ever sold at auction. he created the piece just in one night in 1947 not bad for one night's work. and it symbolizes man's hope of moving forward. we'll see whether tonight also points to the future of

pride of the zayad stables, but things weren't always so easy for the family and their business, robert frankry for this family. he's always been the ultimate outsider, an egyptian brewer who stormed the world of horse racing. ahmed zayad is becoming the ultimate disrupter in the sport of kings. when american pharaoh crossed the finish line his owners the zayats had a lot to celebrate. the $1.2 million prize they walked away with -- is just the beginning. in a sport filled with old money and families who have been at it for generations, ahmed and his son, justin are newbies with an incredible track record. they started their stables in 2005. that short time they've taken second-place in the derby three times. finally winning a 3-year-old colt in kentucky. >> out of 21 winners, i'm one of them, it's history. i still can't believe it. >> the zayats will be garnering even more attention in baltimore. mirren pharaoh is the favorite at the preakness and there's already talk of a chance at the triple crown. love that expression now like american pharaoh, zayat is at his best when coming if behind.

robert frank has the latest on that. >> two picassos stolen from the stepdaughter have turned up in the collection of a russian billionaire who is charging the art dealer with fraud. the mystery coming up after the break. # . >>> breaking news out of washington. in about 45 minutes, te cata the japanese company that manufactures air bags that are at the heart of a massive recall, they will announce a recall of 33.8 million vehicles due to defective air bags. this is a major victory at the top of the hour. there will be a press conference in washington and the transportation secretary. essentially this is doubling the number of vehicles recalled for defective air bags. it was at about $17 million and now increased up to 33.8 million vehicles. we'll get more details at the top of the hour. >> could be a record recall. thank you very much. we will look forward to hearing more on that. mastercard getting an upgrade and raiseing it from overweight to sector weight. they are in a benefit in europe. starbucks announcing a partnership with spotify. the deal will allow the program members access

robert frank is breaking down a study on the high stress of high income individuals. >> you can callaire's paradox. the more wealth you have the more you think need. why millionaires are stuck on a golden treadmill. after the break. blap bring us those who want to feel well rested and ready to enjoy the morning ahead. aleve pm. the first to combine a sleep aid... plus the 12 hour pain relieving strength of aleve. for pain relief that can last until the am. so you... you... and you, can be a morning person again. aleve pm, for a better am. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain as it may cause an unsafe

. >> sharon epperson robert frank and david seaburg is riding along with the market action today. obert first to you. in a way, we've had so many different headlines from different asset classes. stocks today weren't moving that much. we've had big moves in the ten-year, a record week for art prices. what do you think we're learning here? >> you nailed it. across the board asset class inflation. the real cpi that should should be looking at is the christy's price index. they had a billion dollars in sales in 48 hours, including $180 million picasso, the most expensive painting ever sold. it just reminds us that all of these asset classes are driven by the supply of money, not fundamentals. >> is it driven by demand -- this is nouriel roubini earlier this week said these record high art prices it doesn't economically mean anything. it's money laundering. what should we take as a conclusion from that? >> the art market is not the stock market. it is the tip of the spear when you talk about the asset classes being driven by a massive amount of liquidity that by the way, is more and mo

new england patriots other than robert kraft is in the bay area and says the team won't put up a fight. good afternoon, i'm michelle griego. >> hi, everyone. i'm frank mallicoat. robert kraft is accepting the punishment handed down by the nfl commissioner. kpix 5's lisa chan with what some are calling a surprise decision by mr. kraft. >> reporter: 32 nfl team owners arrived in san francisco at the ritz-carlton for their spring meeting. but all eyes are on patriots owner robert kraft. >> it's been an emotionally charged couple of weeks. >> reporter: that's because about one week ago, nfl commissioner roger goodell suspended patriots quarterback tom brady for four games fined the team $1 million and took away two draft picks. this after allegations that two team staffers deflated footballs to make them easier to grip in january's afc championship game. >> there was no hard evidence and everything was circumstantial. and at the same time, when the discipline came out, i felt it was way over the top as it was unreasonable and unprecedented in my opinion. >> reporter: the scandal is now referred to as "deflate-gate," and the once strong relationship betw

jim la camp is here from ubs, kate kelly and robert frank. welcome, everybody.have "fast money" trader tim seymour and cnbc senior contributor larry kudlow. welcome one and all. let me just begin, i'm look fog the panel, guys if there's a bull market it is in deals. we've had the second busiest month for u.s. deals in terms of announced deals in history, $233 billion worth. where does this take us next? is this a bullish time for the markets generally? >> there's a lot going on to be happy about. it seems like we're up and we're down. underneath the surface, all three major averages are up. you look and see what's up in the market. health care, financial technology. what do these have in common? earnings growth. go out and find companies that are doing well. it's not just mergers and acquisitions. find companies that are out there performing. >> that's the point. >> this is a stock picker's market, not an averages market. >> kate? >> as we wait for interest rates to rise which could be september at the earliest at this point. financing is still cheap. people are

ro robert frank joins us with the amazing details. >> it was the first time two works of art traded formillion in a single auction. they were waiting for the sale of this paint chgwhich carried an estimate of $140 million. >> $160 million. it's yours. sold. >> so that hammer price of $160 million works out to a total sale price of $179.4 million. that includes the auction fees and commissions. this was regarded as one of the best picassos still in private hands. it was paying homage to the 19th century master. it was bought for $212,000 by the american collector. this piece was last sold in 1997 for $31.9 million. so that's up five fold from 1997. much better than the stock market. now another record broken last night was for this piece. a sculpture called man pointing. it went for 140$140 million. this is just the warm up guys. we have post war and contemporary and then christie's again on wednesday. >> any idea who bought this stuff? >> both anonymous. >> on this picasso there were two bidders left. there were two billionaires that want the same thing. once we got past 140 and 150 it

robert frank is not buying muni bonds. >> i won't let him. >> i am shunning muni bonds. >> other placeshat can't sit in cash. big institutions can't sit in cash. we're going to sit in cash. >> if you're a sovereign fund and you're a fixed income manager. you'll buy stuff with negative yields and deal with it. >> you have any cal fulawn in your house? do you have any cellophane in your house? >> i have both. >> you have some caflon pots? >> everybody has it. >> just saying. >> because they're good. >> they've never been used. >> you know what else they make that joe uses every day. >> depends. >> a sharpie pen because he signs all his 8 by 10s. love joe. >> i go through those like water. >> or today jose isn't that what you said earlier? >> i did. >> that's spanish. >> if you ask nicely, he'll get you a glossy. you want clothed or unclothed? >> clothed, please. >>> coming up from pots and pans to home organization. chances are you do have a new rubbermaid product in your home. talk earnings and consumer trends. >>> if you're telling cnbc he is not worried about the prospects of oil comin

robert frank joins us now with more. really. >> wait until you see how that number has grown.than 900 billionaires have been created worldwide over the past 20 years but a new report says the billionaire boom may be about to end. the billionaire report says there are now 1300 billionaires worldwide totaling $3.6 trillion. most made their money from consumer products finance and tech. the report says billionaire growth comes in cycles with the guilded age ending with a 50 year billionaire drought between 1930 and 1980. the current cycle could come to an end from slowing economic growth and government moves against inequality like higher taxes and regulation. most of them are over 60. >> the rich have been getting richer. especially for last 20 years but we don't think these things happen in a straight line. it's more of an s curve type of a phenomenon. >> now the report noticed that new innovations like bio tech ai and nano tech could offset any declines. but just for perspective in 1982 there were 13 billionaires. now there are more than 500. what they're saying is this number

robert frank is here now to tell us how much this horse could be worth.e is starting in the number one position. >> top position. >> but is it better he ran much further than every other horse in the starting position. >> horse hasn't won in that position since 1994. it's been a while. a tough position. >> only once in 54 years you went from the first position. >> it's tough. but the valuation story on this horse is really interesting. he was sold two years ago at auction for $300,000. if he wins tomorrow, american pharaoh can be worth ten times that amount and not to mention those stud fees. two years for american pharaoh took first place at the derby. before he'd run even a single race he hit the auction block at saratoga springs, new york selling for $300,000. over the next year, he won five races. purses totaling $1.4 million. before setting foot in the run for the roses at the derby, experts pegged his value at around $10 million. this big derby finish at churchill downs made him worth much more. some of the top thoroughbred agents now estimate his v

robert, now stop it this instant. okay. so we had a woerful time. no dogs there. marie: frank! and the condo was just beautiful.teak so big i almost couldn't finish it. and then i did. great. see, that's why you guys should have a video camera. hey! you mother's talking.. no tv now. so on the drive home we started talking and, well, we... what is it, marie? we want to move there.

frank blair was a congressman. her husband, philip slay was robert e. lee's cousin but he was an officer in the union navy. and because he was in the navy she wrote to him almost every day. so there are thousands of letters. and her wartime letters are published but there are plenty more on both sides of the war happily at princeton. so her letters really give you a sense of what's happening here all through the war, and how much danger washington was in which is something i really have not focused on, particularly at the beginning of the war when there was every expectation that the southerners which is coming and burn the place down, and until the forests pashtun force were built around it it was really unsafe. and i found a diary and unpublished diary from 1861 that first year of the woman who was a farmer at rosedale. socially talks about how scary it is come and she's a confederate sympathizer, as were most of the people in town, and so she's telling her children just keep quiet for god's sake, because loose lips sink ships. but in her tissue is afraid they would say something intemperate and the unio

robert. well, my name's sam gilula. i haven't seen mr. bararone in about 25 years. he's a great man your father. did you say frank barone? yeah.er, i used to work after school at the same company as your father. he was a real mentor to me. mentor? you sure you don't mean tormentor? damn it, marie. the elastic is completely shot on these pants. mr. barone? who are you? sam gilula! "sammy boy" from pelk accounting?

. ♪ cold- blooded killers, frank and jesse james started out as happy church going boys on the farm in clay count, missouri, jesse's father robertist minister. robert james is selected by a group of men who want to go out west to california and he's the chaplain on the expedition to go out gold- mining and jesse is a very young child and his father dies in california. his mother was a fierce southern woman in a time when women have no rights or property. she refuses to give up and finds a husband in ruben samuel who allows her to take control of the farm and family. she leaned on slave labor to keep control. >> she not only be for the institution of slavery but commit crime in the name of the cause. >> the james' family owns seven slaves and they are brought of it. and western missouri, the jam's family would rather sucede than change. but the slavery is being changed in the nation's capitol. u.s. senator stephen douglas proposes a controversial plan. splitting the territory in two. kansas and nebraska. >> the that leaves the decision on whether a new territory would are slave or free to the voters. >> this bill will triumph. an

man. [ gunfire ] ♪ >> cold-blooded killers, frank and jesse james start out as happy church-going brothers on a farm in kearney, missouri. jesse's father, robert, was a baptist minister. >> robert james selected by a group of men there who want to go out west to california. and he's the chaplain on this expedition to go out gold mining. jesse's a very young child at this time and his father dies in california. >> his mother was a fierce southern woman at a time when women have no right, she refuses to give up and quickly finds a husband in rubin samuel, who allows her to take control of the farm and family. zerelda raised both of her sons to not only be for the institution of slavery but to fight for it and to commit crime in the name of the cause. >> the james' family own at least seven slaves and they are proud of it. jesse's family would rather secede than change. but slavery is being challenged. u.s. senator steven douglas pro proses a controversial plan, splitting the territory in two, kansas and nebraska. >> the kansas nebraska act leaves the decision on whether a new territory would leave it up to the voter. >> this bill will triumph an

frank with you. the liquidity issue is a terribly urgent issue. this is common knowledge. that's not the about the bush -- let's not beat about the bush and pretend otherwise. robertw will they convince europeans to release funds for great banks? >> from the perspective of the time frame, we are talking about the next couple of weeks. robert: there has been progress. >> some important issues have been discussed in depth, but more time is needed to bridge the remaining gaps and to reach a comprehensive agreement. robert: greece and its eurozone creditors are closer to agreements on making the tax system work at her, but big gas remain on reform of pensions -- big gaps remain on reform of pensions. sunset over historic athens. will they sell the parthenon? not yet. katty: from the world of finance to the world of sports. the national football league has announced a penalty for the new england patriots using underinflated footballs in a championship game in january, an incident known as deflategate. the team will be fined $1 million and start order back tom brady will be suspended for the worst for games of the 2015 season without -- for the first four games of the 2

robert b. carlson from pennsylvania 94 years old. took out nine japanese planes between 1944 and 1945. or there's frank gaylord jr.rnia 92 scored five and a half kills in world war ii before being captured held in prison until the end of the war, then serving again in vietnam. our country owes these men and the dozens of others honored today a great debt. that is why they are receiving today, the highest honor that congress can give on behalf of all of us. >> peter, i understand there was also a separate ceremony today for an airman tell us what happened. >> 96-year-old veteran from west virginia who worked as an aircraft crew chief never knew how to get officially recognized as part of the group. he got on the computer tried to figure it out himself, and didn't have any luck. eventually senator joeman chin's office got involved. and now he has a gold medal, he couldn't be happier for or more grateful. >> my mind is going a mile a minute. i'm enjoying every minute of it. i appreciate every one that's had the minutest interest in it and i thank all of them. >> that man, sergeant john watson also joe said he can't s

this is the living flame memorial in frank rin square the only one that combined the police officers and firefighters that die in the line of duty, they added robert wilson and firefighter, lieutenant joyce craig to the memorial. officer damian stevenson talked about his partner's heroic efrlts. >> what he did i don't know if i could do that. i call him a hero, my hero. >> wilson was shot and killed while trying to stop a robbery at a video store. he died while battling a house fire. >> there is a trash site in philadelphia for pickup. the streets department announced a plan today to get more trucks on the street to get the job done vernon odom is live with more on the story. vernon? >> good evening, salvation is indeed on the way the city blames the problem frankly on these, broken down trash trucks and beyond the eight year cycle of use, and the police commissioner is promising to have the problem in the rear view mirror by mid summer. soon to be back on the streets, but the city's fleet of trash compacters is at a low level to keep up the 97% collection rate, the streets department confirms the fleet is down 35% dropping collections city wide t

robert woodson is with us for the next 35 minutes or so taking your questions and comments. we'll start with frank in baltimore maryland baltimore, maryland. good morning. >> good morning. >> i would like to know what is the function of this organization as far as helping the inner city out. >> we go into the inner city in low income communities and seek out leaders that are there. in milwaukee wisconsin we have about 75 young adults from the community suffering the problem who work full-time in the public schools as moral mentors and character coaches and as a consequence of hiring local people in those schools we were able to reduce violence by 25% in the first three months. similar to your group of 300 in baltimore, maryland. they were ex-offenders. they go into communities like baltimore and works with groups like the group of 300. pastor billy stanfield is an example of a community leader from baltimore that the center has invested in for years working in douglas high school and other communities in baltimore. we help low income leaders in the community to solve the problems that exist there

robert woodson is with us for the next 35 minutes or so taking your questions and comments. we will start with frank in baltimore maryland, calling to chat with you. caller: good morning. i would like to know what is the function of this organization? guest: what we do is we go into the inner-city, for instance in low income communities, and we seek out leaders. in milwaukee or wisconsin, we have 75 young adults who work full-time in public schools as moral ministers and character coaches and as a consequence of hiring local people in those schools, we were able to reduce violence by 25% in the first three months. there was a group of 300 and baltimore, maryland. i was excited to see the these gentlemen taking the streets. so the center for community enterprise goes into communities in baltimore and works with the group of 300. stanfield is it an example of the community leader that the center has invested in four years, working in high schools and other communities. we have low income leaders in the communities to solve the problems that exist, as opposed to the millions that we spend on outside pr

frank blake, the previous ceo, thome is a brilliant cfo. macy's has a brilliant cfo. these are cfos you hang on every word. >> you've got to read the release from lumber liquidators, announcing that robert lynch unexpectedly resigned as ceo amid the government probe of the safety of the products. they use the word "unexpectedly" in the release. >> typically would you read something like that and think he was fired. unexpectedly makes you think, wait a second maybe he wasn't fired. he said i'm out of here. >> you put flooring you have a flooring featured in "60 minutes" and sales go down dramatically do you give the guy a raise or decide what we have is a very solid campaign when you watch major league baseball. that's what we have. this is liquidating this company by competition. >> in a rapid fashion. now we are talking about a company with market cap below $700 million. it is not widely held. >> it was up there with ultrasalon. >> it was one of the keys to the market. >> guys ask are you seeing the demise of the competition? these guys never saw them. now they really don't see it. "60 minutes." kind of -- this is like the old food lion reports. >> this one came back formaldehyde. >> t