scott mcgrew, they crushed it with the financial report. supposed bar was set pretty low >>> when it comes to electric car companies, all you need to do these days, not go bankrupt and you are setting a new record. even $1 in profit in electric car standards, pretty amazing. tesla said it made $15 million in profit over the past quarter. more importantly, thoerks weugh some metrics. the cost of making a model "s," tesla way down. working the kinks out of making cars. making far more than originally predicted. good news all around. the ceo of chinese telecom would you way is speaking out. they are the second largest networking company in the world they have been accused by everyone from the federal government to 60 minutes of being a front for chinese spying. the ceo up until now had never spoken on camera ever. denied all those charges. the ceo made that unexpected announcement in of all places, in you zeeland. we do have video of see ma seema mody. >>> new highs on wednesday. the dow, s&p 500, the dow transport and the russell 2000 indexes

scott mcgrew checking out what's happening at the school. we'll have an update after this. ♪ [ male announcer ] a car that can actually see like a human using stereoscopic cameras ♪ and even stop itself if it has to. ♪ the technology may be hard to imagine... but why you would want it is not. the 2014 e-class, see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. breaking news happening in redwood city. quickly grew to a three-alarm. now, we're seeing a lot of smoke going there. what we see is flames just leaping out. san mateo county trying to tackle this one getting assistance from outside agencies as well. you see from the aerial vushiewo many smoke. it started in a carport on fair oaks avenue. our own scott mcgrew was calling the school to see if there's any cancellations,thy delays. what parents should do if they have to drop off the kids in the area. so far, we know there's starr testing in that school this week. so they want the kids to come. but what we do not know if they're holdin

we talked to scott mcgrew about that.so, uncorked wine festival is happening in ghirardelli square. sunday we have the beta breakers race. it will be hot this year. make sure you bring the sun screen. 71 degrees is higher than average. 70 degrees in fairfield. cool conditions overall. let some of that cool air come in courtesy of a gentle breeze. as we head throughout the next couple of days, we'll warm up. stay warm for monday and then we have a nice stretch spring like weather to get to tuesday through thursday. let's get you to work on time.mp mike has been busy. >> yeah, i was worried. people go on auto pilot. northbound 101. the earlier crash has just closed as far as chp is concerned. north 880 at 101, sounds like all of the activity has cleared from the roadway. no longer much of a distraction through the area. that caused a big backup on north 101. presumably you could at least see some of the flashing lights and the activity earlier in the morning commute. that has sorted itself out. now that that crash has clear

scott mcgrew, low is learner ist playing ball with anyone. she refused to resign after the new head of the irs asked her to. lo lois lerner has been suspended indefinitely. she was in charge of overseeing tax ex semptions with the i.r.s. she is the first to reveal that they were targeting conservative groups at a speech she gave last month. she took the fifth after a long statement programming she had done nothing wrong which is not how the fifth works. >>> she just testified. she just waved her fifth amendment right to privilege. you don't get to tell your side of the story and not be subjected to cross-examination. that's not the way it works. she waved her right to fifth amendment privilege by issuing an opening statement. she ought to stand here and answer our questions. >> what happens to lerner now. not entirely clear. she could be compelled to testify. she could theoretically be charged with contempt of congress. we will continue to follow it. meanwhile, the east bay's ban dora says it now has 70 million users and its ceo, joe kennedy,

scott mcgrew joins us live.s ceo says you'll be able to drive coast to coast. >> right, tesla had the best range, the distance you can drive in the industry. now it will have some of the most charging stations, enough strung across the country to drive between l.a. and new york city, stopping every 200 miles or so for a 30-minute charge. that's a long time at the gas station but keep in mind those refueling stops are free and the car, that's still spendy though musk speaking at the all things digital conference reaffirmed tesla's plans to make a cheaper electric car sometime in the future, cheap around $30,000. it's relative. other companies not standing still, chevy introduced the spark ev. it will cost as little as $199 a month to lease. figuring the average person spends about $100, $150 a month in gasoline, $199 a month is tempting. the spark is a reinvented leaf more like that but it may be like the electrici car for the rest of us. the industry is finally growing after all these years. >> and elon musk in

apple passed the 35 billion download mark in october. >>> scott mcgrew has an app that will make every parent jealous. yes, ladies and gentlemen, it is gadget friday. >>> this is so clever. i am so thrilled with this. this is a common aaa battery. this is a battery holder. it has a blue tooth connection to it. so when you put the battery in the battery holder, now, you have blue tooth connection over your battery blue tooth control. we have an experimental one here. this is on indigo-go. you can get it now for $30. i am going to turn on elmo, right? app? >> he is having a good time. >> elmo is partying. >> i am supposed to be able to turn off elmo. let's try it again. hold on. let me try it again and see if it actually works. maybe it did. >> it worked for elmo. he enjoyed that. the idea here is -- >> i get it. the blue tooth connection to the battery cuts off the power. the idea is you could actually schedule on an app. you could schedule all of your kids toys to turn off at 7:00 p.m. or you could just walk around the house going, no, no, no. you could do it with lights. you could do

scott mcgrew has all of the power in the palm of his hand. it is gadget friday. >>> good morning to you. this is such a clever idea. both mike inouye and i said, why didn't we think of this? because we are not as clever as engineers. this is a battery holder called a tether cell. it has a blue tooth chip in the back. ed the idea is, you can use it to control any battery-operated device. so i have this porch light here, for instance. i can use my cell phone, my smart phone to turn it on and turn it off. so as i try to get it to work there, there it goes. very good. i can get elmo to turn on or off at will. $30 from tether board.com. elmo was not cooperative earlier. we are going to make sure he is more cooperative this time. i am going to turn elmo on. in a perfect world, i will be able to turn him off again. >> that's one way to do it. >> how cool is that. you press the button and he falls off the table. >> wow, that's live tv, folks. >>> $30. it is just so clever. you just knocked the power right out using the blue tooth chip from your smart

scott mcgrew is in the newsroom. scott, tech companies seem to love the idea. lawmakers, not so much. >> reporter: yeah, in this case, eight senators who sent a letter to google asking about the privacy implications of google glass asking ceo larry page among other questions, if glass would use facial recognition and how a person would opt out of that. we know the answer which is, no, they don't have facial recognition. google just today got twitter working on google glass so facial recognition is a ways off. the questions are reasonable but they're very, very early. politicians tend to do this, sort of jump ahead. back in 2001 then san francisco supervisor chris daily tried to get segue scooters banned from san francisco because someone might run over pedestrians. he said he wanted to stop the segue slaughter. and state senator leyland yee said he doesn't think people should have 3-d printers without a license in case they want to print a gun. all of these things, i suppose, are possible but politicians do tend to get a little ahead of technology. we'll wait f

scott mcgrew will break it down next. >>> and from drizzle to sizzle, this morning, low clouds, cool temperatures, as we get into this afternoon the heat is on and then we soar. >> and a smooth drive, the long and windy road, a smooth drive in the east bay. >> from the north bay to the south bay a live look at san jose just a gorgeous shot, christina was talking about cooler temperatures to start this thursday but it will get warm, this is "today in the bay". >> good morning, it's 5:30, i'm marla tellez in for john kelly. >> and i'm laura garcia-cannon. former high school football coach is charged with child molestation and in day. bob redell joins us live in richmond with more details on the investigation. >> reporter: good morning to you, laura. the sheriff put the word out about this because they believe the man who used to coach football here at kennedy high in richmond might have sexually assaulted other children. with more information about barron edwards anyone with information come forward. deputies arested this 51-year-old man last week, was charged with three counts of rape

scott mcgrew continues our coverage here. scott, the company that apple and other high-tech firms set up, they have a special. >> you may hear cook use the term. it is called check the box. the name comes from a special irs form that apple and h.p. and other companies use to designate these tax-free entities. their literally are boxes that have to be checked. keep in mind, no one anywhere has accused apple of violating tax law. apple is just using the rules the way they are written. in the case of check the box, rules that congress set up in the 90s which were so poorly thought out. companies immediately took advantage of the loopholes even while telling congress how bad those laws were. in fact, apple's cook is going to suggest changes to congress this morning. now, when president obama first took office, he said he would get rid of many of these tax loopholes specifically check the box but the push failed under pressure from big business and the republican party. which brings us to the political side of this. today's hearing

scott mcgrew, this will affect missions to the red planet if we decide to go. >> well, yes.nd talking about possible missions this week, and so not if, but when. new information from the mars probes this morning tell the scientists that radiation is going to be so extreme on that trip they can't send anyone with current technology. either they will have to build a shasship wi spaceship which is unlikely or how to get to mars much, much faster. and speaking of science, the department of transportation has weighed in on the robot cars and says steady as she goes, and allowing companies like google to continue to experiment, and mercedes to use some computer guidance, but not allowing totally driverless cars yet. bottom line, the government said that everything that you are doing, just do that. well, if your spouse has been pushing you the buy a house while the mortgage rates are low, get ready for the i told you so, because the mortgage rates are climbing and the reasons are kcomplex because thy are related to government bonds and they are incredibly low, but on the rise. i ta

scott mcgrew, huge boots for the president's plan. >> it really is.there ha been all kinds of talk. how about expensive care obama was going to be. largest, most important state in the u.s. it looks like everything is going to be okay. health care and insurance, ridiculously complicated. the bottom line is a californian earning very little. 150% of the poverty line. someone who doesn't get health care from him or her employer would pay around $44 a month for the so-called silver plan of federally mandated health care. more than 7 million californians have no health insurance whatsoever. so your takeaway this morning is obama care is apparently not as costly as even the most neutral of experts said it would be. the irs has suspended lois lerner, who sort of took the fifth in front of congress. she proclaimed her innocence in the irs scandal and then said she would not answer questions under oath. her hybrid fifth amendment claim made congress very angry. "the washington post" said she was asked to resign by the new head of the irs. she refused and has

you may remember the 3-d printed gun scott mcgrew showed us earlier this week. the government wants the plan to be pulled off the internet. anyone with the tools could build this gun. >> honestly, it is a lot easier to buy a gun than it is to build one. guns are not hard to come by in our society. if you did want to build one at home, here are the pieces. someone built and successfully test fired this plastic gun. they have asked that the computer design blueprints be taken down. it is concerned about exporting weapons technology that. illegal. >>> seema mody has the rest of the morning off. if she was here, she would tell the markets fell on wednesday. markets do look strong this morning. japan's central bank dumped a ton of yen on to the market. we called it an all-in bet. that could spark the economy with cheap money and that appears to have worked. wall street likes that. what a week, jon and laura, it has been for tesla. the stock up 25% thursday. after the company posted a profit. now, this morning, consumer reports says the tesla s is one of the best cars

scott mcgrew, the big bubble gum question. >>> "time" magazine points out, city and states might taxum, as a candy or tax it as a food or in other locations, no the at all. just one of the complications that online retailers would have to face. as of that, different cities tax differently. los gatos, san jose, all kinds of different combinations and per mutations. >>> dow industrials is up much higher, crossing over 15,000 as the east bay's clorox opens the nysc. the s&p 500 had a new report. the financial times says my tro soft is about to radically redesign windows 8. this is the new operating system that uses touch tiles. they say it is the new coke, a reference to coca-cola sent years ago. i have to explain this to some people to reformulate coke only to realize it was possibly the biggest blunder in history businesswise. >> i don't know. jcpenney. >> i feel old i have to explain coke. >> i don't know what you are talking about. >> i feel ya. >>> a live look at hp pavilion where later tonight, san jose sharks go for the series sweep of the vancouver canucks. the sharks are up thr

scott mcgrew, that company is going to do that by opening up shares to new investors. >>> a secondary offering. in a new financial filing, tesla says it is going to sell more stock, about a quarter billion dollars worth which will give the company plenty of cash to pay back the government immediately and further invest in this fremont factory. the department of energy loans, as you well know, have been problematic, the likes of s solyndra and fiskier. new music and features in google plus. google said very little, practically nothing, in fact, about it's new google glass. let's check the markets this morning. jackie deangelis is live at cnbc world headquarters >>> futures pointing to a lower open after yesterday's market melt-up. the rally continued. the dow closing at new record highs. today, data on unemployment. consumer prices and housing starts. watch for earnings from wal-mart's and kohl's. they came out this morning. we are going to look for details on the health of the consumer. the dow rising to 15,275. the nasdaq adding to 3471. >> apple said it sold its 50 billionth app in

lel let's bring in business and tech reporter, scott mcgrew.is not the president's message that is rubbing us the wrong way but where he is choosing to kick off his tour. austin is a cool down, specially by texas standards. texas is willing to talk to anybody about jobs, except us. nbc bay area contacted the texas governor's office several times over the past couple of days when we learned about the president's trip. we did it by phone and e-mail. no results. texas has been courting our companies. recently, a small company in morgan hill said it would leave for texas. ask governor rick perry out of texas. he visited the bay area looking for businesses to take back with him and left us with this radio ad. >> building a business is tough but i hear building a business in california is next to impossible. this is texas governor, rick perry. i have a message for california businesses. come check out texas. >> now, president obama will visit applied teerlsz materials texas. they have a big factory there. it is head quartered here. there could be a p

this deal is all cash, scott mcgrew. the biggest purchase marissa myers has made so far. not yahoo!'s biggest. >> tumbler, big purchase. analysts hoping it gives yahoo! in-roads with younger users. tumbler allows people to quickly create a blog. most are visual, lots of pictures. in a statement issued a short time ago, myers says yahoo! will leave tumbler out of new york city largely alone. in fact, she says, quote, we promise not to screw it up. tumbler, by the way, by all accounts, is a money-losing enterprise. this is a big win for that team. not only are they going to get a lot of money but money operating the site will not be an issue from here on out. not everybody is thrilled with the idea of an old-fashioned yahoo! trying to burnish its image by hanging out with the younger crowd. marla tallez joins us with that side of the story. good morning. >> reporter: good morning. it is not the direction you are going to see protesters out here picketing in front of yahoo! headquarters but you absolutely will find them online. a whole lot of people unhappy with this. one tumbler user g

scott mcgrew, pretty bold move. >> it is.now you're a big company when you need an environmental expert and hiren: the former he of the environmental protection agency. before this cook, she reported directly to president obama. speaking of apple, tim cook talking about his experience before congress. he gave an interview last night as part of the wall street journal's all things digital conference, repeated his assertion that apple does not use tax tricks and called the experience an opportunity. as far as gadgetry, not a lot to report. cook does think wearable computing, like google glass, is interesting, but says he doesn't think any gadget is going to convince a young person to wear glasses or even a watch if he doesn't now. great day on the markets tuesday. futures calling for a lower opening, perhaps a bit of profit taking. dow closed 106 points higher and will open this morning the a new record, much of that due to unexpectedly good news about housing. if you live in the south bay or peninsula, here is why it's even be

scott mcgrew, better news on jobs driving the market. >>> that's the conventional wisdom. 15,000 on the dow friday. 7.5% unemployment. keep in mind, though, back when we were down in the 4%, 5%, the dow wasn't this high. that's the number there. the dow crossed the 15 k for the first time friday. nothing magic happens at 15 k. it is sort of interesting and note worthy as a benchmark. you mentioned jobs. we got the latest jobs numbers for april on friday. 166,000 jobs added. that's not an amazingly strong number. it is dragged lower by cuts in government employees. private businesses are hiring. governments are laying off. economists, some of the past month's data. they added jobs with the stroke of a pencil. 3-d printing becomes very important development. it is exactly what it sounds like. a printer that can make actual objects printing something you can hold. this morning, one of the fears was someone would use a 3-d printer to create a working gun. here it is over the weekend. somebody put this together successfully fired it with a real bullet. there is video online. we have not gott

scott mcgrew, success story in green energy. >> it really is. we're still waiting for the other brake shoe to drop, right? looks like now tesla is going to be a success story, paying back government loans ahead of schedule. it's sold thousands of cars. recently offering a lease deal as well. tesla reports profits or losses after the closing bell today. now, tesla aside, green energy has not turned out to be the savior that silicon valley had hoped for. electric cars in particular. cars that were supposed to be built in benicia, coda, recently filed for bankruptcy and fisker on the verge of doing so. "the new york times" points out when you measure the fisker deba debacle in private money lost it's worse than solyndra, losing about $800 million in private money, fisker losing $1 billion. the house committee has been highly critical of solyndra as well. one wind project which cost a billion and now employs 35 people. >>> finally, good news for yahoo! this morning. chinese partner, alibaba says it doubled profits. yahoo! owns about a quarter of ali

scott mcgrew and i were talking about this yesterday. they have finals after memorial day weekend.on does. so that's kind of tough on the kids. some of the kids will be spending their time this weekend studying. >> take a book to the barbecue. >> exactly. >> bring the book. grades come first, young one. 6:17. taking a live look. some science happening out here on the bay. you see our camera getting a little bit of a shake. that is because those winds are still fierce out there. you will also notice all the ripples out there on the bay. rough seas generating by those strong waves. as we head throughout the next couple of days, we are going to see the winds drop off. one more day of blustery conditions by tomorrow at this q time, a much more calm scenario. let's get right to it this morning. talk about what we are expecting in terms of flight delays. we don't have any out of san francisco. i know a lot of you are trying to travel. we have major delays backing up out of new york city at this point. if you want to check ahead, a potent weather system moving into the midwest and the nor

scott mcgrew says you should be on it right now. a big success. hard to imagine a whole decade has gone by. linked in, the brain child of this man, reed hoffmann, who split up the concept of social networking. he took business and the friend got groups with the company tribes. the only company to make it was linked in and, boy, did it ever? from $45 ipo price in may of 2011 to $175 a share this morning. shares did sink as the company talked about its trouble with mobile in advertising. reed hoffmann and rod pinkus own the patents that make facebook go. recruiters these days only used linked in to find job candidates. they have no reason to look anywhere else. if you are not there, you are not a candidate for the job. >>> other news, the "l.a. times" has taken a look at tesla's business. they say the company is benefiting from california tax breaks to the tune of a quarter billion dollars a year. when you buy a tesla, california gives tesla an environmental credit. it, in turn, sells that to detroit auto mamakers to help t reach california clean ai

scott mcgrew says whether that's good or bad depends on where you stand. >> good morning. the idea is for government to use easy-to-read data in a format that everyone can agree on. so data is accessible to anyone who wants to crunch it or publish it. san francisco was a pioneer in this. you may recall the san francisco health department made its restaurant health inspection data available online. yelp started publishing that information right along with customer reviews. not every restaurant liked that. most government data is not secret, it's just a pain to access. for instance, i don't generally publicize where i live. but if you went to the county courthouse, you'd find a record of me buying a house. if it were accessible online, my privacy wouldn't change but ease of access would. at this point, we don't know how the government will be using that data. >>> other news, we've learned from ana that it will flight its 787s to san jose starting june 1st. and twitter will open up an office in sunnyvale, about 8,000 square feet. back to you. >> scott, thank you very much. >>

scott mcgrew says it turns your ipad into a cash register. >> square unveiled that new device this morning. it's kind of like a giant version of the iphone swiping device. the ipad sits on top and the clerk uses that to total up your purchases and swipes the card across the bottom. it costs $299. you'll start seeing it in small businesses and stores this summer. at&t has not decided whether to discontinue sales of the htc first, the so-called facebook phone. sales apparently have been less than stellar. you may recall that at&t dropped the price of the first from $99 to $0.99 with contract. this is not to be confused with htc 1, which is a totally different phone. why, guys, they have a first and a one at the same time, i have no idea. >> let the confusion continue, scott. thank you very much. >>> apple stock on an express elevator in the wrong direction. ceo tim cook going right through the roof. bids must be in this afternoon for a charity auction for an hour long chat with mr. cook. the current bid, get a load of this, $605,000. the bids have gone so high prospective bidders must person

scott mcgrew says that day has come. >> good morning to you. 3d print hag become a very important development in tech. it's exactly what it sounds like, a printer that can make actual objects, printing out something you can hold in your hand. it's a quick way for engineers to prototype fast and cheap. as you point out, one of the fears was someone would use it to make a gun. over the weekend someone did. these are the pieces disassembled. someone test fired a printed plastic gun with a real bullet. there's proof online but we haven't gotten permission to use the actual video. >>> on a lighter note, it was only a matter of time until "saturday night live" took on google glass. take a look at seth myers weekend update. >> simple. toggle through the menu like this. have you to activate it like this. >> that's pretty cool. >> it's creepy because no one knows you're doing it. >> later they decided they wanted to get italian food so they tell the google glass italian. that changes the language of the device and they could barely get it back into english. it's good stuff. you can take a look for fre

scott mcgrew said it's a huge boost for the president's plan. >> reporter: good morning. there has been all kind of talk about how expensive obama care will be. here we are the largest and most expensive state in the u.s. and looks like it will be okay. health care insurance was ridiculously complicated. the bottom line, california making very little money, say 150% of the poverty line, someone who didn't get health care from his or her employer would pay as little as $44 a month for the so-called silver plan of the federal mandated health care. more than 4 million californians have no health insurance whatsoever. your takeaway, obama care is not as costly as the most neutral of experts said it would be. i wanted to call your attention to this. it's an event in san francisco. an open house, a tech shop on saturday on howard near the moscone center. you can walk through and see the devices. tech shop is sort of like a gym for makers. you've got welding, $10,000, $50,000, $100,000 machines that you're free to use with a membership just like the gym. san jose and menlo park

. >> scott mcgrew says it pace $16 million every single day. >> reporter: yeah, good morning. there's no doubt apple pays a great deal of taxes. one analysis says one out of every $40 of corporate tax paid in the u.s. total each year comes from apple. that said the senate permanent committee want to know why apple doesn't pay more. this morning the committee called apple ceo tim cook to testify asking if apple takes advantage of tax laws, particularly in ireland, to avoid paying u.s. taxes. here is cook's testimony. >> we don't depend on tax gimmicks. we don't move in ele intellectu property offshore. we don't stash money on some caribbean island. we don't move our money from our subsidiaries to fund u.s. business in order to skirt the repatriation tax. >> it's complicated. they ask professors at villanova and harvard to explain it to them. those senators themselves wrote the tax law. this is not our first time at the tax rodeo. last time the very same committee asked questions of hewlett-packard. enough about taxes, lets talk about xbox. there's a new xbox brand-new through m

. >> scott mcgrew said dow popping today going above 15,000 earlier this morning. >> reporter: good morning. i remember it as if it happened a few hours ago, which it did. dow industrials crossed 15,000. there it goes earlier this morning. now, nothing magic happens, but it is an interesting benchmark. s&p 500 honestly a better measure of the economy in the markets, also hit a new intraday high. all of this comes after the labor department said the u.s. economy gained 165,000 jobs in the month of april. the unemployment rate falls another tenth of a percent to 7.5%. now, far more importantly, economists revise their estimates upwards for previous months. in other words, jon and marla, we gained almost 200,000 jobs sort of out of nowhere. also yesterday we saw data showing some of the lowest first time jobless claims in years. this means while companies aren't necessarily hiring like they used to, they are not firing like they used to either. >> okay, scott, thanks. revolutionary airplane start add cross-country journey without an ounce of field. solar impulse took off from moffett field. th

. >> scott mcgrew was word from inside the bodyroom. >> intel is promoting from within. promoting its chief operating officer, brian krzanich, up to ceo. he's been with the company since 1982. he will replace outgoing ceo paul otellini who announced his retirement some weeks ago. but without any announcement on who would replace him. also renee james has been promoted to company president. you have two jobs here, ceo and president, these were actually one job under otellini. we've learned they've split the job into two. it was actually this pair's idea, krzanich and james went to the board, pitched them as a pair, essentially running as a ticket, we're told. at first, the board, not so sure about splitting that job. but in the end, obviously it worked for both of them. back to you. >> thanks so much. >>> meteorologist christina loren is back in studio where it's nice and ac'd. it is warm and you're talking about fire danger. >> yeah. those winds are still pumping out there, marla and jon. want to start with this live picture here of san jose. you better believe those car

scott mcgrew, not just locally but nationwide. >> reporter: good morning. obviously we care most about local prices, right? local meaning our own houses. that's what's going to count most. nationwide numbers are important, too. that affects the overall economy. the nationwide news is good. case-shiller said its 20 city index of home prices rose 11% compared to the same time last year. looking locally san francisco house prices are up 22% on the year. higher house prices help in another way as well. it helps people move. if you're under water on your house, you don't take that great new promotion in some other state, because you can't afford to leave your house. so as prices go up, people get more mobile. that good news, along with the spike in consumer confidence this morning, helped snap a losing streak on the market. the dow at one point up more than 200 points on the open. back to you. >> thanks so much, scott. >>> a horse is recovering this morning after being rescued from a well in san rafael. it took crews several hours to free that horse from the 25

. >> scott mcgrew says cisco may not be exciting but it is paying off. >> cisco isn't the sexiest companyn san jose but it is the most important in that it is the largest private employer in the city. it makes the fundamental devices that big businesses need. so it's a proverbial canary in a coal mine. cisco reported better-than-expected profits on wednesday. tesla going to pay back its department of energy loan early and completely in a new financial filing. tesla says it will do it by selling more stock at current prices. the secondary offering will give the company plenty of cash to pay the government back immediately and further invest in its fremont factory. the d.o.e. loendans have been problematic with solyndra and fiskar. back to you. >>> christina loren what's happening outside for us? >> i've got something else amazing to watch, the wag of fog moving in to san francisco. we've been watching this camera for the past ten minutes. it is really moving in. the showers are starting to subside. it's going to be a cool day when we walk out of here. hopefully in about a half hour from no

scott mcgrew, not a lot of money. >> yeah, good morning.here near the amount investors said they lost in those panicked hours after the stock started trading. but it's not meant as restitution, it's punishment. the nasdaq is paying out settlements to big investment houses. but again, the amounts are far less than burned investors would like. >>> to space where american astronaut has taken up residence in the international space station for a six-month stay. she along with an italian and russian made the ride in record time just over five hours. a chinese company has just purchased america's biggest pork producer, smithfield foods for nearly $5 billion. but the federal government may step in to stop it because smithfield is so important to the american food chain. so that's your pigs and face news. pigs and space, marla. >> business and tech, a whole different spin. okay, scott. thanks so much. >>> the san jose sharks season came to an end in los angeles last night. unfortunately they were eliminated from the playoffs by the defending champs

. >> scott mcgrew joins us of the airline faces a the lot of competition. >> five others. the this will keep prices low in the south bay. the first flight from l.a. landed just after 9:00 a.m. it was even early. but passengers were delayed from leaving the plane ironically, so that various officials could give speeches at the gate. virgin america will fly two round trips between san jose and los angeles and we learned may consider longer haul flights. >>> you can't talk virgin without talking playboy richard branson. he was there, though he doesn't run the airline. >> i wasn't allowed to own the airline. i thought i would be dead before i changed the laws to set it up. i've taken a minority position in the airline but i still -- you know, i'm still the biggest private shareholder and i still love the airline. i love the people who work there. i've been to every single launch, and i feel passionately about it. >> the person who really runs the airline is there on the left. one important point if you've flown through sfo you know virgin has a comfortable passenger line. they

scott mcgrew still near historic lows. >> yes, good morning. the reasons are a bit complex.y are related to government bonds. mortgages are still incredibly low but on the rise. if your spouse has been pushing you to buy a house while mortgage rates are still low, get ready for an i told you so. 30-year fixed conforming loan will run just under 4%. that's up but historically still low. lets talk about gadget friday. if you were watching at 5:00 and 6:00, you saw me drop a phone into water. my goodness gracious, i leaned over to find it was still ringing. i just called it. couldn't get my hand in there to get it out. someone with smaller phones was able to get the phone out to see if it would still work. she turns it on and it does. this is the first ruggedized smartphone on the markets. it is waterproof and dust proof and shock proof. gadget friday every friday morning. we will see you monday. >> love it. i need a ruggedized phone. i think we all do. >> google execs state laid but it was fun. they got a new look at the movie. they decided to take on an internship at mountain

the car scott mcgrew says most people don't even know about. >> yeah, the honda what? it's the honda fitev, honda cutting the lease on that car to $259 a month. the car company will even drop the price of your lease retroactively if you already have one of these. and chevy comes in with an even cheaper car, the $199 a month spark ev. why the race to the bottom? part of it is concern over range. electric cars generally don't go very far. this one will only take you to san jose, to san francisco and about halfway back. not all the way home without a recharge. that's what makes tesla such a big deal. it has 200 miles-plus on the range. the other issue facing a lot of electric car companies as they try to sell is gas prices. gas prices continue to fall. that is bad for the ev market. so that may be why you're seeing a sudden reduction in all of these car prices. >> very good, thank you, scott. >>> it is something straight out of tomorrow land. guests at disneyworld will no longer have to keep track of tickets and cards but where a magic band. it's a high-tech bracelet that

. >> you're saying a brand beyond scott mcgrew, reporter, nbc or something. that it's you know, journalist following, i mean, there's some sort of description to it and that actually keys off search engines. if recruiters are looking for certain people, if i'm very basic, i may not show up in that search engine. >> absolutely. it's amazing. people have no idea what keywords to put. do some research. sfwl what are some ke words that you put in to grab people's attention? >> for me? >> if you were a reporter, what would you do? not that i'm looking for a job. i'm overworked any way. >> you're a rotter and you have a certain beat. maybe a technology, maybe it's business. eastern european countries. maybe -- maybe you think you're a specialist at story telling or human interests or whatever it is. you know, maybe you just say content development. >> like story telling's one of them for reporters that's kind of coveted. >> i assume you do an endorsement for somebody, they'll do it for you. i have a website, scottmcgrew.net. she said listen, it sounds silly to have

scott mcgrew, he knows where he'll be. >> reporter: good morning.ing to be at the maker fair along with a whole lot of other people. it's at the san mateo fairgrounds. saturday and sunday. this is arc attack. this is all so very cool. i recommend this every year. it's a gathering of inventors and geeks and builders and robot creators and explosives experts and rocketeers. you name it. okay. two warnings for you, though. first, it's a bit expensive. an adult is about $30. it is like going to disney land. you have to pretty much expect to spend the whole day there and parking and traffic tend to be tough. jon, you remember this morning we had gadget friday. it was a 3d printer. now, we've given it all morning to print. so here it is, it's printing a coffee cup. we're going to speed up the video a little so you can see how x there it's going $1200. these printers are now at staples of all places. you really know 3d printing has come into the mainstream when it's at staples. you use hot, gooey plastic out of this tube to build automatically whatever you

scott mcgrew says those laws have never been applied to google glass. >> not yet. though, they can. what would surprise you is it's not the video that california is concerned about. it's not the images but the sound. laws are old enough here in california, video is not really covered. but recording people's conversations is a legal sticking point. california law says any conversation a person would reasonably expect to be private, even an everyday conversation in, say, a restaurant, may not be recorded unless everyone agrees to it. >>> speaking of privacy, "new york times" this morning reports that the obama administration is about to push for new rules that would force internet companies like skype or apple to make it easier for fbi agents to listen in. facetime and skype, other communications over the internet are hard to tap. the fbi says its ability to listen in to conversations with a judge's order is growing dark as people avoid the phone. >>> other news this morning, dow industrials will open above 15,000 for the first time ever. s s & and p 500 at a record as well. investors

scott mcgrew, nine years ahead of schedule. >> nine years. taxpayers will pocket a profit. an electronic payment from the bay area car company to the u.s. department of energy sometime this morning. totally paying off more than the $400 million loan. tesla hasn't made $400 million in cars. rather it is transferring risk to the common investor. recall tesla had a secondary offering of stock. they raised the money there. the repayment will cause critics to reassess analysis, also known as eating crow. mitt romney called tesla a loser company, lumping it in with solyndra. he wasn't alone. many conservatives have been critical of the car company. hewlett-packard will announce its profits after the closing bell. ben bernanke is talking to the senate. seema mody is live at cnbc world headquarters. good morning. >> hey, scott. it will be busy for the markets. futures flat after stocked turned early losses into late day gains. the dow posted a gain on tuesday while the nasdaq and s&p were up for a ninth straight tuesday. we get data on existing home sales. minutes from last month's

. >> scott mcgrew is ahead of the big speech from the fed. >> it could go higher.ortune magazine says the country needs another financial crisis to remind it we haven't really solved our problems. certainly not to the point where you can justify dow at 15,400 this morning. ben bernanke will speak before the senate. hewlett-packard reports profits after the bell. net app will cut 900 jobs. not clear how many are local. the senate judiciary committee made history passing the biggest immigration bill since reagan was president. it heads now to the floor. tesla will pay back its department of energy loan today. nine years ahead of schedule with a small profit to taxpayers to boot. tesla raised funds through a secondary offering recently. this will be an electronic payment. i said it would be better optics from the obama administration. what would make sense is to use paypal. he was one of the founders. >> interesting. >> big statement. >> would have been cool to see one of the huge lotto stepcheck. >> awesome. >> 6:57. the csu board giving san jose state the go ahead t

. >>> let's talk with scott mcgrew.a new way to record your most awesome stunts. >>> it is a gadget that can tell the difference between an ali and a grind. >> we got to go out to the skate park to test out a device called lift. it is a censor that measures all kinds of data as you participate in extreme sports. think of it as a pedometer for crazy people. here is a close-up version of what the company will be selling. you can see the censors inside that watch. it will pop out. you can easily put it in your pocket. it knows whether you are skateboarding or biking or paddle boarding based on your movements and adapts. one really cool thing, it will sink up with an iphone. if your friend videos you skateboarding. the device will lay the data over the video. here is a look. when the company first showed this to me. i thought it was some kind of conceptual video. this is what it is going to look like. imagine posting this to facebook. an early look in stores this summer. they are on indigo-go right now. they will cost $150.

scott mcgrew joins us now. >>> painful news for redwood city's reputation.com. they say, 11 million u.s. citizens were affected by identity theft in 2009. according to "the new york times," reputation was hit by some of the very same thieves. the company apparently sends out e-mails to customers saying it had reset their passwords to protect them. so far, no information on the website itself about this hack. the battle continues this morning between cryingaigslist a number of hangers on who use this to drive their own website. they take the ads and put them on a map. you can see where the apartments are available. many people see this is helpful, because craigslist sees it as stealing. thought of as the san francisco treasurer. he supports all kinds of causes, including the beta breakers. behind the scenes, we are seeing tough, bare knuckle legal action. the case is in federal court. recent rulings have largely been in favor of the third-party companies though it is not over. when you post an add to craigslist, who owns that ad, you, craigslist, nobody or all th

scott mcgrew, he says it wasn't difficult. >> what he really said was it wasn't a pain in his backside, laura. except he didn't say that either. he used a different, less morning show friendly word. congress, the people who actually wrote the tax law. cook talked about the experience to the wall street journal, all things digital conference last night and also revealed a hire. this is lisa jackson. she will be in charge of all of apple's environmental efforts. her qualifications? she ran the environmental protection agency. the markets thwart ahead monday with confident consumers. let's turn to bertha coombs with more. good morning, bertha. >> good morning, scott. tuesdays are shaping up to be the best day on wall street. this morning, futures a touch lower. stocks rally yesterday. investors reacting to better than expect ed data. renewed speculation that the fed may be ready to pull back its stimulus as the economy improves, but at least the economy is improving it seems. dow climbing to 15,409. that was a new record high. a new record for the dow as well as far as its performance on

scott mcgrew, the second best-selling car if you do the math a certain way.u take all the luxury brands and look at their top-level car, the nicest, most expensive model each makes, then the tesla s outsells them all nationwide. not only the only car line that tesla doesn't beat is the most expensive model of cadillac. you have to do about half the cost to get there. taking a look at the markets, tesla is up another 6% today. . if you bought it a year ago, an all-time high. the dow industrials are down about 40 points. >> thank you very much. we are back with a local live update. >> we do it ever half hour after that. >> we love it. >> we love hanging out and doing it all together for you guys. enjoy your day out there! christina loren says it looks like a nice one. >> have a great one. >> make it a great monday morning. >>> good morning. the rescue. this morning, dramatic, new video of the freeing of the cleveland kidnapping victims as two of the brothers who were initially arrested speak out for the first time. >>> developing now, a massive search under way

scott mcgrew, that company says, first profits and then a stock operation. >> you don't have to be profitable to have an ipo. you just look at tesla. it is profitable now. it wasn't back then. in the case of virgin, the company did make a profit in one quarter. it was a rare exception. in an interview with the wall street journal, ceo david cut, says his san francisco-based company just renegotiated some debt. lenders will get part of the company. that means virgin is paying far less in monthly loan payments and that's a step towards a first-time offering of shares. >>> in virgin's most recent quarter, the company lost $45 million flying you from place to place. it has been a pretty good environment for ipos. let's check the markets. jackie deangeles is live at cnbc world headquarters. good morning, jackie. >>> good morning, scott. futures pointing to another low on wall street. the markets, another positive week. the dow closed above 15,000 for the first time. a key psychological level. the s&p 500 reaching new record highs as well. the dow, nasdaq and s&p notching their third straight weekl

scott mcgrew joins us now. google calls it auto complete. germany not happy with it. >> specially when the auto complete is insulting. if you are not familiar with it, it is that feature where you type in part of a search, let's say laura garcia can and it tries to finish the search for you. >> age? >> obviously, people interested in laura's age, salary and her triplets. the answers are, 31, a lot and, yes, she does. auto complete could be defamatory. you put in somebody's name and it will offer, criminal records for instance. germany says google has to turn that part of it off if people request it this morning >>> other news, two car sharing services have become one. relay rides, a service backed by general motors, has bought wheels, a service started on college campuses. relay rides was bigger and wheels had better technology. now, with car sharing, you rent out your personal car to strangers. investor, daniel lobby, who created so much trouble with yahoo! in past years, has bought up enough shares of sony to pressure that company into per

scott mcgrew joins us now. they have to quit easy money sometime. >> it doesn't have to be now.s it have to be soon? >> more evidence that what's happening on the stock market is about fed quantitative easing. ben bernanke hinted that the federal open market committee won't keep buying debt forever. he was speaking before congress where he said pretty explicitly, it is mostly the government's fault that is holding the economy back. what economists want to see is a strong stock market, a strong economy as well. those aren't the same thing, remember. the economy is people trading money back and forth. if all of us are saving because we are uncertain or nervous about jobs or under water on our houses like john was talking about, well, that's going to be a big problem. with all that in mind, let's check in with seema mody. she is live at cnbc world headquarters. good morning. >>> good morning, scott. as you pointed out, futures are sharply lower after stocks fell on wednesday on comments by fed chairman, ben bernanke suggesting that they could start tapering the economic stimulus pr

. >> scott mcgrew says that should be good news for everyone butlz investors. >> secondary offering, more stock, generally bad news if you are a current investor. you don't want more shares out there. they dilute the investment you have. you would think tesla shares would fall on the news this morning. that's not the case at all. tesla shares up better than 6% on news the car company is going to raise hundreds of millions of dollars more and pay back its department of energy loan early. elon musk says he will give the company $100 million in exchange for a bigger share of ownership. >> discouraging news from solar orbit. the kepler telescope apparently broken discovered more than 100 earth planets, marked more than 2000 as likely earthlike but it has developed a serious problem with its steering. it is in heliocentric orbit. so it is not like we can go get it. nasa technically doesn't own a any spaceships. the guy that came up with the idea was all alone until he convinced nasa to do it. we are very proud of everything that did happen. >> pretty amazing too. thank you very much. >>>

scott mcgrew has an indestruckable phone for them on this gadget friday. >> yes, and moms, too, who chase kids around and to that i will add dads, too. it is called the torque, and first ruggedized phone and android phone built to military specs to resist shock endured and even water damage as well. so to prof ie it, we ran this i our conference room. it sleeps with the fishes. we will do it again, ladies and gentlemen, live on television coming up at 6:55. why? because i have this base and this phone, and we are going to call it in the water, and the reason we are doing it later is that if it does not work this time, i'd have a waterlogged phone next time. so if you go the work late today, and, you know, that b.a.r.t. is delayed, so stay at home. we will do it. >> okay. can we throw it on the ground, too? >> absolutely. yes. >> after? >> after the second time. >> yes. >> completely indestructible. >> yes, you see this. >> we will test it out. >> you will learn this live television, do it awesome the second time. >> we have an awesome forecast if you like the heat. meteorologist rob mayed

. >>> scott mcgrew, in israel, it could drag down local companies. >> we think a local company is about very same thing. this israeli company called a better place, a series of gas stations, if you will, for electric cars. you pull up in your car and an attendant removed the battery and swapped it out for a fresh one and off you went. it solved the biggest problem electric cars have. they take a long time to recharge. there is talk tesla is thinking cars. it already has an extensive series of recharging stations but we have expected ceo, elon musk, to announce, perhaps as soon as this week, a battery swap program, very similar to better place. tesla shares have jumped in the zmonths. so too has solar city. money magazine has calculated musk has made about $3 billion extra over those if-tments. bha what's cool about musk is he goes all !/in. that payoff comes after investing every last dime in his companies. investors broke a four-week winning streak after they were worried the fed would soon end its easy money policies. folks from the arizona-based pat tillman foundation !a(z the closi