tower in malaysia, the world's tallest building, the world financial center in manhattan, the san bernardino city hall, the pacific design center in los angeles and us embassy in tokyo japan and another project in washington. mr. pally has over 200 degrees for design excellence. he was list is as the no. 1 architect and greatest achievement in architecture. he has formulated conceptions of his design. the aesthetic qualities of a building should grow from characteristics of each project such as location, construction technology and a purpose. the tower is a marvelous expression of mr. pally's -- commitment. please welcome cesar pally. [ applause ] >> this is a very important day for me today. i have been dreaming about this tower and the center for over 6 years. now, this is all going to be reality. i hope not for long we'll all gather here to celebrate the opening of the tower and the center. i have always loved san francisco. it's an incredible city. it's dynamic at the same time, it's gentle, it's an incredible place. we have designed the tower appropriate for this city. the tower will be a dy

i spent about 28 years as a police officer for the city of san bernardino, california, about 80 miles outside los angeles. among other things i'm recognized as an expert on graffiti in california superior court. without reading all this i want to let you know that i am well rounded, i was supervisor of the unit to be supervisor of a multi agency dealing with it to being executive director for the entire state, california graffiti association of california. so i have a fair amount of background. i first became involved in graffiti back in 1991 when i was told in the gang unit that i was going to be a two-week assignment to deal with these guys called taggers. i continued until i retired so it was a long two weeks. a lot of times cities don't understand how deep the issue goes. i have had my card handed out, this is my phone number. i have absolutely no problem with people calling me any time to discuss graffiti issues, graffiti cases, any of that stuff, i am always available. that's why i put my card out there. so first off, before we get into the graffiti part we have to talk about th

cities. san bernardino has also filed for bankruptcy. some expect detroit to be next. >>> coming your way, it is the injury that just has everybody talking this morning. while very gruesome, we do have some good news about the louisville player's recovery. >>> also rising tensions in north korea. the latest threat the u.s. is taking seriously. >>> a busy week ahead, including a big announcement. >>> a look outside, that is south bay above san jose. the clouds trying to let a little sun peek through there with raindrops. christina loren will tell you exactly what's happened. we're back in minutes. on the international scene south korea telling the top military commander to set aside politics and, quote, respond strongly to any north korean attack over the weekend. north korea announcing it has entered a state of war with the south. this just the latest in a string of threats made by the country's top leaders. in the past couple weeks, nbc's richard engel monitoring that situation from seoul. >> reporter: on state tv in north korea, the on

city and every one of our "street signs" come down. when a street sign comes down, san beerctionv dino does it, a lot of cities in california are doing it. san bernardino. * when you wipe it off it allows you to wipe the paint off. you don't get the run and such. so we're seeing more and more of it being used in california. you still have to clean it. it doesn't keep it from sticking, but it preserves the signs, don't have to keep changing the signs. >> all right. so, i want to actually ask a question of the attendees. was there anything about this conference that you can -- because basically we all live graffiti. graffiti is our live. we deal with it on a daily basis. anybody here come to this conference and whether it's from the panel or somebody that they spoke to here, one of the vendors that were here, that was something totally new, something you've never heard of before, something brand spanking new for you and something you want to take home with you to share with other people? chuck? >> we're launching our education program in the schools. the idea of having the kids do some artwork and then turn around and tag it in their class. so, they feel

cities. san bernardino has filed and some expect detroit to be next. >>> rumors are flying again. menlo park's facebook will be entering the smart phone market. we turn things over to jackie deangeles live at cnbc world headquarters. good morning. >>> good morning to you. the futures are higher this morning coming off the holiday weekend. kicking off the newmont and the second quarter. there could be light trading bus europe and parts of asia are closed for easter monday. muted react in south korea's market after the latest war threats from the north. >>> data here in the u.s. on manufacturing and construction spending. the dow coming off its best first quarter since 1998. april is historically the dow's best month of the year. on thursday, the dow rose 52 points to 14,578. the nasdaq adding 11 points to 3267. >>> facebook wants a bigger presence on your phone. the social networking site is holding an event to show off what it calls its new home on android. speculation is that the company will unveil a new smart phone that would be made by htc. that would have facebook, its interf

>> i think that stockton is suffering what a lot of other cities are suffering from in san bernardino, california, which as you noted also filed bankruptcy recently. also cities like detroit, they're facing extraordinary costs for these pension plans, which they agreed to when the money was there and times were flush and you're absolutely right. a public safety employee in the city of stockton who got a 3% pension over 30 years retires with a 90% of their retirement pay and bumped spiking as the judge noted today with the other kinds of things you might have cashed in on the last little bit of the time you worked. >> could i interrupt you? bottom line, calpers is the organization in california that takes all of the pension money, puts it in a big pile, reinvests it and hopefully makes enough money to pay people back over time. if cities stop paying them, then the state has a crisis. right? that's what we're talking about. essentially, if this keeps going, mr. sweet, doesn't every california employee, state government employee end up with lower benefits if many, many municipalities sto

cities. san bernardino has also filed and some expect detroit to be next. >>> now, to a story you will only see in just a matter of hours, a san jose firefighter who nearly died battling a fire seven months ago will head back to work this morning. such a great story. "today in the bay's" bob redell is live at fire station one for the big welcome back party. good morning. >> that party, if you want to call it, is going to happen in a few hours from now. at 10:00 this morning, san jose's fire department will hold a special breakfast to welcome back one of their own, a firefighter who was almost killed in the line of duty. >> firefighter down. >> that was the radio call to save firefighter frank ryan who had collapsed while fighting the st. patrick's cathedral fire. he spoke with us live and recalled for us what happened. he tells us that day was really hot. he came out for air, started feeling really sick, thought he could walk it you have a, ended up laying down and then blacked out. doesn't remember the heart attack that followed and almost killed him. he tells us his heart stopped three to fou

cities. san bernardino has also filed.e expect detroit to be next. >>> the stock market back to work after a three-day holiday break. a knnew month and financial quarter. >>> we have had a few underperforming stocks, facebook, apple. you see the dow grabbing most of the headlines in the first quarter, up 8.3%. nasdaq, up 5% in the first three months. s&p 500, 7% higher so far this year. in fact, the s&p 500 will open at its highest level ever as we get trading under way. you mentioned the break on friday. no markets are open in europe today. they close for the observation of easter monday. tesla has big news, more in the 6:00 hour. >>> looking ahead on friday, the latest jobs data, the monthly unemployment number. remember, jobs, the most important number there is. inflation, the second most important bit of data. >>> the day before that on thursday, facebook is going to announce some new software. we suspect more than just antti niemi droid app but a whole version of android software for your phone, soup to nuts with face

i will tell you something the other big points, san bernardino, compton, other cities cutting paymentsig fight with it, and calpers is fighting riverside which testify of bankruptcy. calpers is seeing fights break out all over the state over the pension fund it is saying it is protecting but the city officials say it needs but creditors so those are really lucrative and rich. cheryl: this could go to the u.s. supreme court. thank you very much. quite a story. dennis: finally subsidies going to bankruptcy. when we come back, the mother of all crashes. former reagan budget director doomsday market call. that is next. cheryl: that story continues on today. and lou dobbs on the growing north korea threat. the country says they will restart a nuclear reactor. dennis: washington residents protesting taxes. melissa and lori are next. those dreams have taken a beating lately. but no way we're going to let them die. ♪ ameriprise advisors can help keep your dreams alive like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. and tha

another city, san bernardino, is in bankruptcy. adam: we will continue to see that. we're going to turn our attention to somebody else in trouble. steve cohen, as criminal charges have been pressured against a top official. we were there when he got arrested, but what evidence do we know so far may be brought forward the government will use against him? liz: this is a developing story. who can the government gets to slip? whether they can get michael steinberg to flip, there is nine current and former employees. four of them are cooperating. michael steinberg today is pleading not guilty. the insider's game, 276 million, way more than what is at issue here. with michael steinberg. i want to zero in according to law enforcement authorities, they were zeroing in on e-mails. that is these damning e-mails have popped up already. this is what is at issue. you can see an e-mail from the tech analyst portfolio manager who says i have a secondhand read from somebody at the company, meaning tha dell. by the way, it is saying this is a third-quarter i have got to misread from

that precedent may be followed by three other california cities, san bernardino mammoth lakes. they could go the chapter 9 bankruptcy route to get out from under their pension problems. you mentioned the bondholder problem. that is huge problem to people that lent money to cities like stockton because they will take a haircut. they may get less money back than they actually put in. that is the first time that ever happened. so there is precedent on two fronts. the bond holders, they lose and maybe the pensioners, certainly the pension fund, that will lose and the ripple effects are spread out all across the country, certainly across california. martha: used to be if there were a couple of things you could count on it was a state pension, a city pension and a municipal bond investment in america's cities and small towns across -- >> martha, if i can say this. martha: yeah. >> the bottom line, if you have lent money to a shaky city, watch out. if you're getting a pension from a shaky city, watch out. martha: good advice. stuart, thank you. we'll talk to you later. bill: so then pe

regardless of the ruling, the legacy of stockton and other cash-strapped cities like san bernardino andgh down reevaluation of municipal finance. >> i think what we will see if local governments looking more carefully at the kinds of borrowings they will make and how they can reasonably expect to pay those borrowings off. >> most experts predict the judge will allow stockton to enter into bankruptcy, which we will know very soon. they expect the ruling will be appealed, perhaps all the way to the u.s. supreme court. cheryl: that is very possible. thank you. tax pain continues. to pay or not to pay. that was the question for william shakespeare. he was threatened with jail several times for evading tax payments. calling him a ruthless businessman during a time of famine, exploited vulnerable and wrote plays about their struggles to entertain them. under promise and over deliver? we're joined with washington's first-quarter earning growth will wow the streets. plus, he will be here, lou dobbs on the immigration debate. clearing a major hurdle. marco rubio says not so fast. coming up when

other cities in california, san bernardino, for instance, in bankruptcy, has actually challenged thepaying into the pension fund. they have stopped paying calpers. we'll see if the pressure in stockton is -- >> does it mean they are in trouble? call about munis were crashing down. >> well, i think that, she, by the way, said, well, what i really meant was -- >> yeah, well -- >> there's a lot of financial pain out there, and that is actually true. i think where she overestimated is a loot of the places, remember, these pension costs are not what i call hard debts. a bond is a hard debt. you have a payment, make the payment if you make defaults. these pension costs are coming due over the next 15 years, and what happens is the unfunded liabilities grow, and beyond a certain point, it's difficult without big tax increases to, you know, to make this up. that's what people face, not so much a wave of insolvencies as wave after wave of tax increases as in illinois that are eating up by the pension system. >> right. nay increased taxes, went to the pension system, and still in the same plac

legal experts predict the legacy of stockton and other cash-strapped cities like san bernardino and detroit a top down reevaluation of municipal finance. >> i think what we're going to see is local governments looking for carefully at the kinds of borrowing they will make and how they with reasonably expect to pay them off. >> most experts predict the judge will allow stockton to enter into bankruptcy which we'll know in about an hour. they expect the ruling will be appealed perhaps all the way to the u.s. supreme court. jenna. jenna: we'll continue to watch this story as it develops, claudia, thank you. jon: we are learning more about a horrifying scene on a major highway, almost one hundred cars involved in a series of deadly pileups, swerving and crashing, many of them catching fire, what caused this tragedy. plus, texas very much on edge after a district attorney and his wife are murdered in their own home. now the hunt is on for a killer. the latest on the investigation. [ male announcer ] this is george. the day building a play set begins with a surprise twinge of back pain... and a c

. >>> before stockton, vallejo was the largest city to declare bank result -- bankruptcy that was back in 2008. san bernardino filed for bankruptcy last december. >>> a panel of prosecutors >>> the driver of this car says he hit the car instead of breaks around 3:00 this afternoon he ran into three staircases. the driver and people inside the building walked away unharmed. there is no estimate yet on the damage to the building. >>> a lot of pedestrians are killed in the city of san francisco and some say the city is not moving fast enough. there were five in just the first three months of this year. walk sf executive director elizabeth stamp says the city has already identified 50 miles of its most dangerous streets. >> so if we fix about five miles of streets a year over the next decade we can actually cut injuries and fatalities in half. >>> the city says it plans to spend $600 million over the next 10 years to make the streets safer. an action plan describing how that money will be spent is set to be released this week. >>> new at 10:00, a proposal in petaluma to restore an old hotel to its former glory is

. >>> before stockton, vallejo was the largest city to declare bank result -- bankruptcy that was back in 2008. san bernardino filed for bankruptcy last december. >>> a panel of prosecutors said justice is death in the case of colorado massacre shooter. mom, i invited justin over for lunch. good. no, not good. he's a vegetarian and he's going to be here in 20 minutes! don't stress. we can figure this out. [ male announcer ] get the speed to make a great first impression. call today to get u-verse high speed internet for as little as $14.95 a month for 12 months with a one-year price guarantee. this is delicious. ♪ [ male announcer ] save the day in an instant. at&t. ♪ at&t. mary gshe also has asthma. so she sees her allergist who has a receptionist susan, who sees that she's due for a mammogram. mary has one that day. that's when she finds out she has a tumor. she has a successful surgery and because her health provider has an amazing connected system, she has her life. i don't know what you have but i have kaiser permanente. kaiser permanente. thrive >>> the driver of this car says he hit the car instead of

san bernardino explosion. officials say all tests across the state should be done by the he said of the month. >>> we can now add another bay ar community to that growing list of cities supporting same-sex marriage. just last night the palo alto city council passing a resolution opposing prop 8, california's ban on same-sex marriage. it also agrees to fly the rainbow flag out in front of city hall. several other cities in the bay area showing their support for gay rights just last week as the u.s. supreme court heard two separate cases dealing with same-sex marriage. decisions on both of those cases are expected sometime in june. >>> a very nice day shaping up for us on tuesday. meteorologist christina loren, what do you have to say about that? >> i say, what are we still doing here. twenty minutes away from freedom and getting out there to enjoy that beautiful day. maybe you have the day off. it's spring break for some. as you can see this is one of those days you want to take advantage of the beautiful weather. live look, san francisco, mid and high-level clouds, all burned off at 57 comfortable degrees. in the city by the bay right now headed towards the 70s, inla

cities? >> well, it's going to increase the interest rates. how much of bad paper borrowing, and especially in california because california's really the epicenter of this. you have vallejo, you have san bernardinoclared bankruptcy, and fresno, also in trouble. and they're probably going to have to be paying more to borrow. >> paul: stockton, if the bondholders take it, then they will be frozen out of the bond market for a long time, i assume. >> they should be, you can't just wipe out bondholders. >> and all of these california cities you start to wonder about them, as alicia and others have written. this is a state where middle class people are fleeing. if you think of sort of long-term growth and the ability to fund these big debts, it's hard to see it in california. you throw on top of it this kind of ruling saying the bondholders are going to get beaten up, shall we say, in polite parlance, along with the union pensions untouched, it could be a rough road. >> and issuing more debt. >> where public unions are really, really powerful, beware, lenders. we have to take one more break. when we come back, hits and ♪ ♪ ♪ [ male announcer ] there are hybrids. ♪ then there are turbo hybrids. introdu