luter is currently a vice-president of the sbc. he's the only publicly declared candidate for president and has wide support. kim lawton has our profile of him. >> reporter: on sunday mornings at new orleans' franklin avenue baptist church, pastor fred luter jr.'s outgoing personality is on full display. at worship services such as this one that begins at 7:30 a.m., luter greets almost everyone in the congregation. and with some 5,000 people attending every week, there's a lot of greeting. >> i love what i do. i love pastoring. i love pastoring. i love pastoring this church. >> reporter: luter, who is 55, has been the pastor here more than 25 years. under his leadership, franklin avenue has become one of the largest southern baptist churches in the state. that takes many people by surprise, because franklin avenue is predominantly african-american, and the southern baptist convention is about 80% white. the fact that luter is likely to be elected the next president of the sbc is even more surprising. >> it's a new day in the southe

sbc a return today is not something that is unanticipated. >> who invented reporters? we think of them as evidence >> not until the 1830's. benjamin had that penny press newspaper. he went way down market so both to do that he did to fill up with amazing things. from the police station, anything he could find. he wore himself out with a full-time reporter i will try to do something about that. >> win did journalism become a business? how o did it supported self? >> most were created for those seven others trade. they were printers to bring customers into the shop to sell the of stationery or a book, they hit upon the 80 as a perfect device. most of those were a sideline as someone who is a job printer. during that revolutionary period you see this side by this appears and the newspaper is the focus. once the city's rs certain density, population density, population, they get going and take off in the 1830's. >> it is fair to say for the first time is a business? >> is clear by that time. >> thinking of ourselves as a professional school. [laughter] and when did the not

companies into the hands of small business, and we had record amounts that we put out in newly licensed sbcs. so i want to thank shonn greene and that program. we just honored the sbic winner, and i was with him last week in nashville. it's amazing how many small businesses and entrepreneurs are getting their starts with this sbic program. and you probably know some of our brand name successes that started with sbic. that would be apple, fedex, costco, intel, pretty good track record. i know there are some more successes on the way. we also took our sbic program and we launched something called the early stage program because, you know, there's a real valley of death, an absence of capital in the very earliest stages for high-growth entrepreneurs. and we're very pleased we put $200 million a year for the next five years into that program in a competitive process so sbics are applying as we speak. the second "c." federal contracting. i spoke a little bit about it this morning with the administrator for nasa, who has been a great partner, but i don't know if you knew, $100 billion annually is

. >> we have the fbi as well as sbc and british regular tlierts looking at the loss at jp morgan.re's a team of regulators in new york and fbi looking into it. it is preliminary at this point but it does not bowed well for the bank and all of the expected regulations expect to do take effect this summer. >> the debate. all over again. >>> this last summer we were talking about the huge fight in congress among democrats and republicans figuring out how to increase buying while decreasing spending. when congress does raise the borrowing limit he is going to insist on spending cuts. tim geithner says no drama please we are going to dtry to o this without a fight this time around. wi we all know there's going to be. >>> you can bank on this. >>> it is 18 after the top of the hour. a stunning development a university dumping its entire healthcare program for students. the reason? obama care. >> he has more game our own dana perino with creme abdul jabar. jeopardy show down is next. first a look at the prices at the pump. national average is 3.73 a gallon. >> 22 past the hour. dana peri

companies into the hands of small business, and we had record amounts that we put out in newly-licensed sbcs. so i want to thank them for that. we just honored the sbic winner, and i was with him last week in nashville. it's amazing how many small businesses and entrepreneurs are getting their starts with this sbic program. and you probably know some of our brand name successesh