here to start us off on this one is united advisors chief market strategist scott martin. scott, what does the future hold? >> probably a very big dose of volatility, melissa. thanks for pointing out we didn't lose as much as we did four years ago. melissa: right. >> it is still a loss. i love to look for you to the silver lining. this is the issue. you mentioned in the tease at the beginning. this fiscal cliff that looms ahead, not that far ahead. only a couple months away if that. there is certainly no resolution in sight. one of those things we'll play chicken with the u.s. economy. we'll play chicken with the u.s. consumer and probably not get anything done. that is the uncertainty that looms over the market more than anything. melissa: here is the question people are asking me today, on election day, stocks are movng higher. it seemed pretty obvious during theay that barack obama was winning. what was the big change overnight? what was the hangover today? >> yeah. that was the goofy thing and that's why i think blaming barack obama's re-election today kind of a red her

the irish would break the press on this play as scott martin makes his only basket of the game, a big. he was 1 for 6 an easy one there. notre dame wins it by a score of 58-49. >> intercepted. at the goal line. three turnovers in the football game for alabama. the dream of defending probably has died for alabama. >> ok. top ranked alabama suffering a pickoff at the goal line. texas a&m holds on for the big 29-24 upset. so notre dame likely will move up to number three in the polls if they can take care of boston college. the irish lead 21-6 in the third quarter. northwestern lost cane colter in the fourth quarter against michigan. simmon finds tony jones deep in the end zone here. 15 yards. northwestern led 31-28. michigan then in desperation just 18 seconds left, an mazing play. gardener in there for robinson, and roy roundtree gets this ball. what a catch. field goal tied the game at 31 in overtime. michigan scores on the@u@) playaction in the o.t. right here, the fake and then he goes around the right side gardener does for the touchdown. fourth and 2 and here's what happens. they

we welcome you with the nor'easter later this afternoon and scott martin, unbreakable scott martin, see you soon. dennis: mitt romney is sticking with his republican ideals despite the loss. >> the election is over but our principles in door. i believe the principles upon which this nation was founded are the only sure guide to a resurgent economy and new greatness. like so many of you, paul and i have left everything on the field. we have given our all to this campaign. but our next -- dennis: our next guest says republicans must change. the executive washington editor of the wall street journal, thank you for being with us. we thought the campaign was all about the economy but was the actual outcome about race? >> there will be a lot of discussion among republicans and democrats about what was about and clearly it was about the economy first and foremost but it was also about an obama/democratic coalition that probably proved more durable than people thought. almost certainly proved more durable than some republicans thought which is to save the young voters, hispanics, asians have no

mark madsen of scott martin has advice.aring from the mayor of new york city talking about getting the power back on and the rebuilding efforts and the market's reacting to these numbers from what we got from the government from initial claims. would you make of this? do you trust these numbers? >> the market might like them but i think there fabrication and fantasy. last month we had an estimate of 160,000 new jobs revised down to 88,000. this month and have over 158,000 with a new methodology. interesting you have zero job creation except for the last two months before the election. i find it very dubious but even with these numbers unemployment is expected to go back because the real numbers from last month's just came in. complete fantasy. cheryl: agree with that? >> how about complete fairy tale which mark is alluding to. the unemployment rate, two surveys here. the establishment survey which surveys real businesses. how many people did you hire or fire last month and then at that out and the other is they call people

>>neil: thank you, scott martin in chicago. the election concluding, the fiscal cliff looming and dead the first sign that republicans are blinging. house per speaker saying moments ago all options including tax hikes could be on the table the listen to this. >> because the american people expect us to find common ground^, we are willing to accept some additional revenues through tax reform. we are willing to accept new revenue under the right conditions. >>neil: did you hear that? still unclear, what are the conditions? to former debt commission co-chair, alan simpson who joins us on the phone. that was, although a lot of people dismiss it, herculean leap toward progress when john boehner is saying i will throw it out there i am hope. what do you think? >>guest: he also said revenue through tax reform so he is getting the message which is go into the tax expenditures, and we found $1 trillion, $100 billion of those babies over 180 who only go 20 percent of the american people using 80 percent of them. only 27 percent of the am

let's bring in scott martin, chief investment strategist and founder and ceo of market 76.hank you for joining me. give me a reaction to this. >> i'm really surprised. i look at buffett as asavvy businessman and one who would not put a dime toward the u.s. government if he had a choice with regards to a buyout because certainly is not a great balance sheets they carry. it just doesn't make a lot of sense for me to say, if you're going to rase the barriers to entry, change the overa landscape of something like raising taxes on investments, why you don't think that would discourage investors. to me, if you like history and see when taxes have gone up, you always see a negative effect. look at gdp alone. when the cuts from bush came through, gdp went up by almost 2 percent on average per quarter. before the cuts it was lower. that's something he needs to look at. melissa: it just seems so logical that if you take a dollar out of an investor sand, that impacts is behavior. >> i tnk that it is important to look at what people do rather than what they say so that we don't end up

joining me, scott martin, a strategist for united advisers. welcome back to the show. i like this. for the fiscal cliff, somehow we are not, and can this trend continue? is this a trend or one nice week that we will remember for a long time? >> it depends what trend you are referring to. the on-again off-again relationship we seem to have with the fiscal collect is probably here to stay. we will probably drive investors mad because there is one day people will save the world is coming and taxes are coming to the sky and a resolution and things will be okay. the reality is somewhere in between which means the market meanders a little higher towards the end of the year but nothing significant. gerri: what you said in your pre interview which was crazy, i couldn't get over it, you say we overestimated the importance of the fiscal cliff? how is that possible? the average family will have a pretty $500 tax hike if this thing goes through. if we fail to do anything at all this could mean things like an economy killer and market bust. why are you so he enamored of fiscal cliff? >> i don't

marketwatcher, scott martin, wonder if he is buying? >> i am not. it is missing one good thing that they offered. it is the money back guarantee. neil, every good infomercial -- you are right. >> that's what i want, neil. i want the government. i want the folks in washington, congress -- chuck schumer, wow, what a strapping tore stimulus he is. -- stranger to stimulus he is. if the american person is not happy with the outcome, we don't get new job growth. the gdp slows to less than 1%. it is all of the things we know will happen in 2013. if all of those things happen, how about they give us our money back. how does that sound? >> it doesn't make sense and makes a lousy commercial so no. we need more stimulus. and now a letter going around among some of the democratic senators that the president better stick to this script about don't touch entitlement and leave medicare alone. i know they won an election. they didn't win a landslide. and it is as if in exit surveys folks were saying, yes, yes, keep up the spending. we want to see more of it. >> tha

joining me now is scott martin for united advisors.come back to the show, always good to see you. can i still play this trend or is it on? >> yes, i think you can. people. people that call to turn over, as you mentioned, especially the homebuilders, i would've in the wrong thing to do is to give up on them. you talk about some of the other names, too. the retail names, i feel that you could've bought lowes and home depot last week and i'm pretty well. that is not a place i would give up on. i like retail and i like the homebuilders. gerri: how much can they go to? you said yourself, the homebuilders have been on fire for a long time. stocks don't go into the sky, my friend. >> they do not. here is the thing, they get absolutely crushed in the last two years. they did not really bounced back and i think they are having their day in the sun. i think the housing market is bottoming. i think housing and construction is going to pick up. >> let's talk about u.s. treasuries for a second. there was a report today that investors are turning ca

two of my starters tonight have fathers, one scott martin's father is battling cancer as we speak, andguard eric atkins father passed away from prostate conference when he was in tenth grade. it touches close to the heart for me. >> sure does. phil, how about you? >> well, i was fortunate not to have it in my family, but the coach that hired me at st. joseph's, jim boyle, he literally fought it for seven months and it wasn't just him that fought it. every member of his family, every former player of his, every business colleague, and it just wears you out, but it also gives you the belief that we're doing something bigger here than playing a basketball game. >> absolutely. coaches versus cancer has raised a whopping $85 million to fund research and provide services. how can people watching tonight's game contribute, mike? >> well, the local american cancer society and nationally has been so involved with this, there is going to be things throughout the broadcast tonight in both games where how you can get involved and we just want to raise awareness and battle this thing and the one th

following the senseless shooting of trayvon martin, governor rick scott created a specific task forceplications of effectiveness of the florida controversial stand your ground law. after eight months the task force has released the report that says it's pretty much fine as it is. they suggested only slight alterations to the law. joining us now is chris smith who formed his own task force to exam stand your ground, and david hemmingway conducting extensive research into the issue of gun violence. thank you for your time tonight. >> thank you. >> thank you. >> eliot: you were not asked to participate in governor scott's commission. you did your own. what did your study find out about the flowers stand your ground law and how effective or ineffective and how dangerous it might have been. >> we found that it is very ineffective and dangers in that we have people from a cross section with defense lawyers prosecutors, law enforcement, a lot of people on our task force. when we talk to law enforcement one thing that stood out was the law enforcement cannot even detain someone if you shoot s

s becky worley and martin giant on the economists this week on "press here." >>> good morning. i'm scott mcgrew. silicon valley seems like a big place but if you have worked here long enough you know a surprisingly small number of people are behind nearly everything. reed hoffman is one of those people. if you could examine just about any silicon valley start-up with a micro scope you would find hoffman's fingerprints. he made millions when ebay bought paypal. then he founded the business social network linkedin and made millions more as he took that company public. he's reinvested his wealth in nearly 100 new companies like facebook and game maker zynga. now he's giving a million dollars to kiva, allowing any new user to lend $25 of hoffman's money to an entrepreneur in the developing world. wired magazine said if facebook's mark zuckerberg represents silicon valley's world conquering hubris, reed hoffman is the more modest, searching soul. joined by becky worley, let's start with kiva. it's your millions but i decide where a little portion of it goes. >> we want to make sure people kne

joining us now with the latest on the con applicant is nbc's martin fletcher live from tel aviv. >> reporter: hi, scott here is really reaching a fever pitch with israel still continuing to pound palestinian targets in gaza. palestinians say that the death toll there reached three pigs today important the first time over 100 palestinians killed and about 600 wounded by palestinian rockets. at the same time, palestinians firing more and more rockets into israel today. i spent the day in the south of israel and in the town where children were being bussed and put on the buses to the north and escape the bombing. the stores and mark wrets almost empty of people. and the sirens were sounding almost every half hour. shooting most of the rockets down. some of the rockets did for one rocket fell on a school which was empty because all the schools are being closed now for five days within a raid wrum of 40 kilometers of gaza. all eyes now on the israelis army poised to attack gaza. on the border, up to 75,000 israeli soldiers will be giving the okay to be called up. at the same time a lot of activity in the ar

scott pelley on long beach island in new jersey. good night. >>> >> your realtime captioner: linda marie macdonald >> good evening, i'm allen martin. >> i'm dana king. with five days before the election, prop 30 could still go either way. win or lose, it could come down to the wire. cbs 5 political reporter grace lee takes a look at two key polls with different outcomes. grace. >> reporter: well, allen, prop 30 is flirting ride on the edge and while the governor says he is confident schools and universities will get that $6 billion they need, there are still skeptics late in this political game. >> there are so many polls, if you read them carefully you will have the same sense of optimism that i do. >> reporter: the governor remains positive about proposition 30 passing. it's the initiative that would raise sales tax a quarter cent and increase state income tax on the rich to channel money into schools and colleges. but polls show it's going to be close. very close. a new field poll out today indicates that it is right on the cusp with 48% voting yes. that's lower than our exclusive surveyusa poll out yesterday that shows it passing with 51%

scott pelley, i'm jeff glor. good night. >>> >> your realtime captioner: linda marie macdonald >>> good evening. happy thanksgiving. i'm elizabeth cook. >> i'm allen martin a sure sign this will be a healthy holiday season. >> black friday is creeping into thanksgiving day. many bay area retailers opened their doors this morning and there was no shortage of bargain hunters. don knapp is watching the flow of shoppers. >> reporter: we're about to go live. i'll talk to you in a minute. i have talked to miss curry about it. she knows all about it. >> who? >> reporter: miss curry. yes. >> reporter: 'tis the day before black friday, why are they shopping on thanksgiving? >> the deals. >> the deals. they have a lot of specials. we are exercising the online option too to buy things online. >> reporter: old navy has been bucking the black friday trend opening a day early. are you jumping the gun here? >> no. we are getting people to come in and shop with us a day and getting them to come back tomorrow. >> so some of these people back in line tonight? >> i guarantee they will be back tonight in line at the at midnight. >> we did an early breakfast and are taking a

scott pelley. captions by: caption colorado comments@captioncolorado.com >> your realtime captioner: linda marie macdonald. >>> good evening, i'm dana king. >> i'm allen martinu could knock on a million doors but you would never get the kind of halloween treat giants fans got today in san francisco. >> that's right. they packed the streets to honor the team's world series victory. ♪ [ music ] >> reporter: on this halloween, san francisco is a sea of orange and black. the frenzy along the parade route and a 49er behind the wheel. >> just here enjoying things. >> reporter: leading to the celebration at civic center. >> reporter: and the giants telling their fans, this is all for you. >> your dedication, your unwaiveer having support, i thank you. >>ne

scott pelley, i'm jeff glor. good night. captions by: caption colorado comments@captioncolorado.com >> your realtime captioner: linda marie macdonald >>> good evening, i'm dana king. >> i'm allen martinon californians are about to see a big increase in their medical insurance payments. and there may be very little that they or state officials can do about it. cbs 5 reporter grace lee tells us who is about to get hit and by how much. grace. >> reporter: that's really part of the frustration. it's not just the money although that's painful. this family that we spoke to is powerless and feel they are at the mercy of anthem blue cross which the state said had an 18% profit margin last year. >> there in the stack of mail was an anthem envelope saying, open immediately important information about your plan. >> reporter: inside, it was very bad news for jan, a local pediatrician. her individual anthem blue cross insurance premium is about to go up nearly 25%. that's an extra $296 per month just for her. her husbands rates will go up 24%, meaning together them pay an extra $528 a month in february on top of what they're already paying. >> a 25% increase. i felt like i had been kicked in the

martin. it was back in the news last week after a task force convened by rick scott didn't find any major flaws in the law despite significant evidence to the contrary. something we discussed here earlier this week. now, stand your ground is making news again after yet another senseless and heartbreaking shooting of a florida teen. according to the account of the suspect, 45-year-old michael dunn, he and his fiancee pulled into the parking lot of a jacksonville florida convenience store last friday night where dunn confronted four teenagers in an suv and got into a heated dispute about the volume of the music in the teenager's suv. during the altercation dunn fired eight rounds into the car killing one of the teens 17-year-old jordan davis. dunn and his fiancee fled the scene because they were concerned for their safety and returned to their home over 100 miles away, never reporting the incident to the police. dunn was arrested the following day and was charged yesterday with second-degree murder and attempted murder. dunn's attorney claims that during the dispute, dunn felt threatened by the t

martin and stand your ground laws. there has been work done and not surprisingly it's a bad law but governor rick scott of florida won'titewashes a bad law. >> cenk: really, rick scott not admitting to doing something wrong. >> eliot: shocking. >> cenk: looking forward to it. see you in a minute. ñ

scott pelley, i'm anthony mason. i'll see you tomorrow on "cbs this morning" saturday. thanks for watching. good night. captions by: caption colorado comments@captioncolorado.com >> your realtime captioner: linda marie macdonald. >>> i'm allen martinook in for dana king tonight. as shoppers flock to the door for deals, walmart employees and supporters are giving the megaretailer a black mark. >> walmart seeing workers protest for better wages and healthcare. cbs 5 reporter linda yee is in san leandro with how that message is being received tonight. >> reporter: dozens of demonstratedders were out here this afternoon determined to to let the public know about working conditions here in walmart. demonstrators tried to move the protests inside the san leandro walmart but were stopped by store security. some workers complained about poor working conditions and unfair treatment and cheap pay. this person said she was fired when she staged a sit-in after suffering verbal abuse. >> we have a cart machine broken for four months. i have to buy my own shoes insoles and back brace and put carts all day. that's wear and tear and i don't appreciate that. they make billions and they can't supply us with the materials we need to do the job. >> w

scott pelley, i'm anthony mason. thanks for watching. i'll see you on "cbs this morning" saturday. good night. captions by: caption colorado comments@captioncolorado.com >> your realtime captioner: linda marie macdonald. >>> good evening, i'm allen martin dana king. we are keeping an eye on the rain coming down around the bay area. you saw the umbrellas out in full force. as we start what will be a soggy weekend, some of the heaviest showers are moving through the bay area right now. in daly city, they are keeping an eye on the hillside near homes where a water main broke earlier this week. they are worried about the rain washing out more of that unstable hillside. but so far, so good. chief meteorologist paul deanno now with what we can expect over the weekend. >> this is only the appetizer. the main course is going to be moving through this evening. look at this radar and the color on the radar and hi-def doppler right now in the bay area just offshore. all of this rain is moving from the southwest to the northeast which means a lot of this that's offshore will be in your backyard soon. petaluma, fairfax, novato, mill valley heavy rain and all of that yellow and orange has its sights set on daly city south san francisco and the city

scott walker of wisconsin and governor bob mcdonnell of virginia they could all decide to take a run and then of course there's senator john thune from south dakota other democrats keeping an eye on governor martin o'malley of maryland it's not hard to keep turning up on the show this one this one and this will never to really talk about the next presidential election. how are we talking about the next election when the one that happened about a week ago isn't resolved yet it's a hot topic in arizona a state that had been the center of heated immigration debates now immigrant rights activists are calling on the department or the justice department to investigate for more petrof elkan director of promise arizona joins us now welcome patra so it's staring a lot of outrage over there in arizona among immigrant rights groups and latino voters why do they feel like the latino vote is being suppressed. well good evening and thank you for this opportunity well the problem is that it just seems like it was one error after another there was a publication from the courier recorders office that gave out public information in spanish and it was the wrong election day from the english a report and then they