yahoo employees will meet today to talk about what happens now that the company fired ceo scott thompson. we have team coverage, marla tellez is where people are weighing in on the changes and scott mcgrew looking at the turmoil of yahoo. >> they tell me they will have a company-wide meeting this afternoon. another one, this time to hear from yet new leadership. and there are lots of new changes. you have new interim ceo ross levinson, new board members including daniel loeb, the guy who has been such a thorn in yahoo's side, the guy that figured out that scott thompson had been dishonest about his resume. and previously an independent board member has been promoted to chairman of the board to replace roy bostock. most were all dealing with a different board. so lots of changes this morning one day after scott thompson steps away from the company. this is another stunner for what has to be the world's most patient workforce yahoo employees. marla tellez is out there now. she's been getting people's reaction to the changes. good morning. >> reporter: scott, good morning. yahoo currently h

he was investigated for performance-enhancing drugs, but no charges filed. >>> yahoo ceo scott thompson been fired over false claims about his college degree. as we continue our coverage, scott mcgrew joins us now. you've talked extensively with yahoo insiders. >> we know friday we were talking about the head-hunting firm. scott thompson seen here saying the erroneous claims he graduated with a computer science degree came from a low-level staffer at that company. years ago, back before he was even an executive at paypal. thompson said the claims he had a computer science degree from there on came from that error, an error, he says he never noticed except they were able to show the resume that thompson had given them years ago and it was on it, his own claims that he had a computer science degree. the other news this morning, the "wall street journal" says mr. thompson told the yahoo board he has cancer. it's thyroid cancer and that's all we know. our own research says thyroid cancer is very wide ranging. the there are types that are curable and types that are not. we will continue to f

has had four full-time ceo within the past five years and now scott thompson is out.the job for only four months of the revolving door continues to move. this came after news that the ceo had resigned. cancer was found while the board was investigating thompsons' academic record. it is not known how much of an impact his medical condition had on the departure. the challenge is convincing shareholders that the troubled company is moving in the right direction >> some of the stockholders were very unhappy with the direction yahoo! was going in and i don't think it is so much scott thompson or the fact that he exaggerated his resume but it is an opportunity to shake up the board. >> with stock prices lagging last month yahoo! laid off 2000 employees. in addition to the resignation and there are also five board members were leaving was the board member who led the investigation costs the bank $2 billion a big week and head for facebook, the chief executive mark zuckerberg turns 28 last week >> later this morning, the new ceo of pg&e holds his for shareholder meeting. he w

able to leverage that >>> a fun manager a disgruntled stockowners gets the credit for ousting scott thompson. it also got fast tracks other board officers to approve thompson. as facebook gets ready for an ipo that could reach $100 billion yahoo shareholders one action. >>> the biggest thing they have to come up with a better social media strategy, global this time with google + and facebook thrives at also needs to beef up its media it has a lot of eyeballs but not profitability >>> the new ceo takes over in the midst of a massive reorganization last month that laid-off 2000 employees. and identified 50 services it wants to shut down or sell >>> time magazine stole the show last week this week it is newsweek's turn. the cover shows president obama under rainbow hail and a caption that reads the first gave president. this comes after his statement he supports same-sex couples to marry. the announcement has politicians weighing in. dianne feinstein said she understands the president's change of heart. >>> i don't think it is a flip- flop and not a political calculation it is not smart at the

this is a day after scott thompson was dismissed over a resume error. scott mcgrew talked with industry insiders about the last straw. >> good morning. remember friday we talked about a headhunter firm. scott thompson senior said erroneous claims he graduated with a computer science degree came from a low level staffer at that company. years back, years ago when he was executive at paypal, thompson said all the claims had he a computer science degree there on came from an error, an error he never said he noticed. hien rick and struggles showed the yahoo board the resume he gave them years ago, on it, his own claims he had a computer science degree. >>> the other news this morning, "the wall street journal" says mr. thompson told the yahoo board he has cancer, thyroid cancer, that's all we know. i have several calls into oncologists. thyroid cancer is wide ranging, there are types that are curable and kinds that are not. we'll continue to follow that as well. here is everything you need to know. executive summary. scott thompson out, ross levinsohn, new i

yahoo has a new leader after scott thompson resigned.ter his official biography said he received a computer science degree he never earned. recent diagnosis of cancer may have influenced his decision to leave or stay and fight. >>> and the bicycle race starts through district in daily city in pacifica through santa cruz county. >>> and they will resume more and he met with the three of the biggest leaders. if no solution can be reached, greece will have to hold new elections next month. voters backed candidates who are against awester are you measures opposed by the european union. this is a picture of the union. >>> 15 people crashed into the mountains of the himalaya ups. six other people were on board.$♪ rescue was swift because the plane crashed just a few yards from an army camp. two danish citizens were sitting close to an exit which helped them escape. >>> right now more than 360 names were added to the memoir mall and they include james cap pee. >> they hold it area 14th as part of police week. >> it is overwhelming how much supp

he does not care that scott thompson lacks a computer science degree.ot affect his ability to be a good manager. you can look at his tenure at pay pal and say, is he good at his job or not? daniel lowe is looking for ammunition. that's tactics. >> this is business fear, right? you've got senator marco rubio, elizabeth warren, they have faced criticism as well because of the truth of family stories about their backgrounds in some degree. are they responsible for fact-checking their parents and grandparents? >> yes, they are. i think fact-checking is an extreme word for this. elizabeth warren knew her family history and family stories, mark rubio knew his too. >> it feels like a gotcha cult tour. >> that's why punishment is an interesting question. merrilee jones at mit, she's a consultant in admissions and she's been offered many jobs because she's great at her job. she should be punished. all kinds of sanctions are possible. you can suspend someone, fine them. you need identifier them. it's appropriate to find appropriate punishment. when you make punis

the internet company removing its ceo scott thompson in the resume scandal. being replaced by ross levinson. before thompson left he told the board he had thyroid cancer. >>> washington state giving out free vaccinations to battle its whooping cough outbreak. doctors say a shot doesn't guarantee you won't get sick but could make symptoms milder, make you less likely to infect someone else. so far there have been no deaths linked to whooping cough but "the new york times" reports more than 1,200 cases through early may. >>> an ohio teen scores a prom date with an nfl player! 18-year-old joyce grendall asked cleveland brown joe hayden to the dance via twitter. she said it was a last ditch effort to get a date after he backed out. hayden said he was the one who was nervous. >> hey, joe, would you consider going to my senior prom with me because my date backed out and didn't go. this is bigger than i ever imagined. >> i am nervous, taking pictures with me and her family and everything, i feel like we were legit, does this look cool and everything, right? i feel l

our next guest says that scott thompson should resign along with the board of directors.oining us now is brian sullivan, ceo of ct partners. i guess the bottom line is here, brian, how could he possibly get away with, number one, not exactly saying why he's sorry. he's not saying what happened, why exactly the padding of the rosie mae ended up in the company's filings. we didn't learn anything at all about this except that he regrets that it happened. >> well, that's right, mandy. and unfortunately, this is a rather embattled company that's on everybody's radar screen, and it's highly touted. we go back three years ago, and this was the same board that turned down a $48 billion offer, which the current market cap is a third of that. and then they hired a big huge search firm with so many conflicts, they put in a ceo that lasted 2 1/2 years. then they hired the same search firm again that had so many conflicts. they said, oh, by the way, we can't talk tom of these executives, what about this guy thompson? oh, boy. can't talk to him. you know, he's a client. but had a staun

scott thompson says that is why he stepped down.says the resume flap hurt him and yahoo's board. >> when you have people that didn't do a good job with record to -- regard to a back ground check that will cause shake up. >> reporter: three board members and the chairman was replaced. he is the one who exposed the resume problem. employees didn't want to talk on camera but one told me things can only go up from here. >> now they have a new board in place. the bode is motivate -- the board is motivated to fix the problems. >> reporter: a spokesman called us back this morning, he called to say the company won't make any comments about the changes they experienced. allie rasmus, ktvu channel 2 news. >>> apple will try to go head to head with instagram. apple will expand its icloud service to allow users to swap and comment on photos. sources say the company plans to unveil the new service next month in san francisco. >>> president obama and mitt romney are engaging in a war of words. president obama's campaign released a video attacking

it would be a shame to see it lose any more ground. >> reporter: scott thompson had announced plans to lay off 2,000 employees here at yahoo. it's not clear if that's still going to happen. thompson's salary was $1 million with millions more in potential bonuses and stock. >>> the head of the hedge fund that pressured facebook. the new board is committed to working with new leadership to unlock yahoo's cig -- significant potential. >>> we'll see how wall street reacts to the change at yahoo. the stock dropped a couple of pennys. >>> resignations from yahoo is expected to quit this week for their roles in that disastrous trade that lost the company $2 billion -- resignations at j.p. morgan are expected to happen this week. diamond says the mistake will not destroy j.p. morgan and that it will earn a lot of money this quarter. meanwhile the chair vows to fix the loophole that allowed the risky investment to happen. >>> jerry brown is set to unveil his revised budget plan after announcing the state faces an even bigger deficit than predicted. brown said the budget gap will grow almost $7

thompson's dedeception.d and give out more information to shareholders regarding what they knew. and here's the last one, scotti saved the best or at least the meatiest for last. number four, the demand third point is making, terminate mr. thompson for cause immediately given his demons rabble suitable to remain chief executive officer. guys, i'm going to toss back to you and can you this, do you think adding that allegedly to a resume is cause for termination? because dan loeb says it is. >> i'm going to anthony for the answer on that. >> i'm not morally -- this is a black line item. you can't lie on your resume and say it's a clerical issue. had he said something -- the cover-up is always worse than the crime. say i was immature when i put that in, i've deleted it. you can't say it's a clerical error. i think dan is 100% right op this issue. >> i've seen a very good portfolio manager fired for the exact same thing. didn't matter what his track record was. it was a moral issue. >> all right. we'll see how this ends up playing out for certain. stick around because this is coming up on the "halftime report". or

a major shake-up at gatto ceo scott thompson resigned after under fire for patting his resin made. don knapp with two is in and out. >>> ever since yahoo co-founder jerry ng it turned out microsoft's offer and watch the stock drop in half shareholders on happy now will find out how shareholders feel about this change. yahoos fourth ceo in five years is out but down by mansion on is resin made that had a computer degree he did not have. after controversy the board approved russ levenson as the new ceo of the onetime prominent internet company >>> stockholders were unhappy with the direction chiao who was going in, i don't think it was necessary is that thompson but it was a shake-up on the board that was more important >>> at technology log levenson rights today's announcement let laid to rest the unfortunate distractions. levenson and is looking to accelerate the process made and enhance stockholder value. that's what they hope scott thompson would do >>> yah hoo struggling for years they've been tremendous eyeballs in their sights that not been able to leverage that >>> as faceboo

scott thompson. and an accurate resume was a smoking gun. now, he's out of the picture and that new reconstituted board as well as interim ceo will have to chart the company's future. >> there is another shake up, yahoo continues to face an identity crisis. is it a tech or a media company? karen swisher thinks yahoo has to innovate after 2000 employees and bleeding talent. >> yahoo has profits and growth is not there. that is when you get killed in the stock market, bringing people in. they've got to show ability to create bro ducts that can grow users. they did that for 10 years and have to do that, again. >> and who would lead the charge? executive vice president named interim ceo. that is why the board hasn't decided if he's the heir apairnent. the ceo has a resolving door. four have come and gone. qualified candidates may consider yahoo toxic. >> there is and could be someone pulled out of retirement. >> we can use the $20 million package. and this is regardless of his performance. >> the board d

ceo scott thompson resigned after coming under fire for padding his resignation. don knapp with more. >>> scott thompson is out right down by mentioned in his resonate he had a computer science degree he did not actually have. today the board approved ross levenson as the new c l for the one time dominant internet company. >>> stockholders were unhappy with the direction yahoo was in its not so much that thompson but also an opportunity to shake up the board that might be more important to the stockholders >>> a technology it log said in the ceo's a first missive to troops " today's announcement lays to rest the distraction regarding our senior leadership he wants to accelerate the progress and stockholder value " >>> the result he would drive the company in the right direction that have been struggling for years, they have not been able to leverage that >>> hedge fund manager is a major but discount " stockholder gets credit for it in the ouster of thompson. four other directors who also supported thompson are out. now as facebook it's rare but for an ipo that co

we have a picture of scott thompson, former ceo as of yesterday. he resigned after just four months on-the-job. the last several days of which, weeks maybe have been plagued by scandal that thompson's official biography said he had a computer science degree when he only had ha accounting agree. the bigger news may be -- maybe the "wall street journal" is reporting that thompson told the board when he resigned he was also suffering from thyroid cancer and would begin treatment immediately. no details on what the treatment is or the status of his cancer if they caught it early or net. ross levinson has been name the enter sraoupl ceo hired to help turn the company -- enter ceo higher to help turn the company around in 2010. >> yahoo is a media company, but it needs to figure out its social media strategy to compete with facebook and it doesn't have one. i think the company is still floundering a bit. hopefully this guy will give it better direction. >> reporter: call it floundering, struggling, yahoo has had four fulltime ceos in past five years. the

there's certainly things that scott thompson can do to fix yahoo! and to change leadership at this point seems like it's not the right thing to do. >> but potentially lying on your resume, as loeb alleges, sounds to me to be more than an oversight, as you would put it, gene. it seems to be a potentially serious offense, especially for the credibility of a company that seemingly has no credibility in the marketplace, but for a new ceo, especially who's trying to turn around a company that has so many issues. >> that's fair. i think it's going to challenge yahoo! in terms of recruiting. if scott thompson stays, it's really about getting new people on board. i think that would be a challenge. i just think in the grand scheme of things, i don't know what went into that being on his resume. i'd like to hear more about that. if that something was clearly he was trying to pump up his resume, it didn't seem like his resume needed much pumping up. i'd like to hear more about it. if i can feel good about the integrity of scott thompson, i think it's the right

scott thompson is out, following a flap about his resume. he claimed to have a degree in computer science when, in fact, he did not. >> blatantly lying about a college degree, the penalty for the crime fits. >> in this day in age with all. informs that's available to all of us -- with all of the information that's available to all of us, you can't do stuff like that. >> reporter: thompson said he was diagnosed with prostate cancer. and he said that's why he stepped down. >> when you have people that didn't do a good job with regard to a background check, typically, that's gonna cause a board shakeup. >> reporter: and that's exactly what happened yesterday. three of the board members were replaced. daniel loeb is the one who exposed thompson'sson's resume problems. one employee told me "things can only go up from mere." >> now they have a new board in place. it looks like the board is motivated to fix the underlying problems. >> reporter: a yahoo spokesperson did call us back saying. company would not make statements or comments about the lea

yahoo has a new interim ceo after scott thompson stepped down over the weekend. thompson came under fire more than a week ago. when one of yahoo's top investors pointed out there was a fake computer science degree on his resume. thompson denied lying about his credentials and blamed an executive recruiter for padding that resume. tech analysts says thompson's case is likely not unique and could cause other companies to scrutinize their own employees. >> now undoubtedly there are a lot of people sweating bullets either who have false backgrounds or who may have been incidental with hiring people with false backgrounds and both of those groups are at risk. >> thompson leaves yahoo after four months on the job. executive vice president has been named interim ceo. he's the fourth person to lead yahoo in four years. more on what that means from scott mcgrew coming up in about 30 minutes. >>> in the meantime, one of the biggest banks on wall street is preparing for three resignations from top executives this week. the chief investment officer for jpmorgan chase is expec

she managed the ceo that led to hiring of scott thompson. yahoo is under fire for putting up false information about thompson education on his resume. financial health late on wall street due to grease following last week election. fell for fifth straight day. but still its lows and nasdaq dropped 11 points. gas prices are dropping across northern california according to the aaa the average cost of regular unleaded in northern california is $4.20 a gallon. it's a drop of 5 cents a goal listen from this time last month. gas will costless this summer than first expected. the administration expect the cost of gallon of regular fall to national average of $3.79 a gallon. >>> of top 100 public high schools in the country. santa cruises collegiate school ranked no. 8. came in at 12. san francisco low high ranked 51. the mission high school 67. oakland american indian public high school ranked 71. the city summit preparatory high school no. 81. ranks 97. schools were ranked on the academic performance of the entire student body. creator of the child

. >>> there may be more to scott thompson. allie rasmus joins us from sunny veil with what was revealed before stepping down and what is next for the company. >> reporter: you can see it is up the headlines of the most popular stories, he resigned following a degree in compromise science when in fact he did not -- computer science when in fact he did not. they met to discuss the issue and according to the wall street journal, he told the board he had been diagnosed with thyroid cancer and this is just before he stepped down as ceo but they believe it is the resume controversy not his health and that's the reason thompson is out. >> as soon as he falsified his background, he was out. you cannot dodge that, you cannot have a ceo that falsified any aspect of a financial report including your own background. >> they named an interim ceo this weekend and he had been in charge with the media division. yahoo also named a new board member and in a statement, he said the board is moving on. we will have to wait a half hour to see if wa

weekend. >> reporter: the revelation is that scott thompson has thyroid cancer. the "wall street journal" is reporting he told the board about that as he resigned yesterday. of course he is stepping down amid a scandal about his resume, i should say his official biography. it claimed he a computer science degree as well as accounting degree. he only has the accounting degree. the chips are falling from there. we know five board members who had previously mentioned they would be leaving the company have actually resigned immediately. they feeling the pressure having signed off on hiring thompson. one of those board seats will be filled by daniel lobe the activist shareholder who brought the resume scan tell to light. ross levinson has been named interim ceo. experts are hoping he can help turn the company around. >> it will strengthen them from their media perspective, it is a media company it needs to figure out its social media strategy to compete with facebook. i think the company is still floundering a bit. >> reporter: levinson was hired in november of 2010 p

confirms scott thompson has quote left the company after four months of being there.ech analyst rob an derly says it isn't surprised since yahoo! has a policy that you'll be fired if you falsify your reports. and the problem with the ceo's resume was carried with him from paypal, and the problem will likely cause other companies to start doing background check s on all top executives. >> this is kind of executive 101, do a background check so this stuff doesn't come back to haunt you. there are a lot of people sweating bullets that have false backgrounds or who may have been incidental in hiring people with false backgrounds, both of those groups are now at risk. >> yahoo! has also announced that not only will thompson be out but four directors who have planned to retire at the animal meeting will step down immediately. >>> two small earthquakes rattled sonoma county this morning. a 3.9 quake happened about 5:30 in the town of cobb, 25 miles santa ro,of a second quake hit three hours later with 2.8. the area hit is near the guyers geothermal development. no damage was

creigh scott thompson left his -- c.e.o.cott thompson left his post after reports revealed he lied on his resume. he has been under fire for embellishing his academic credentials. there are reports that he also told board members he's been diagnosed with thyroid cancer. he was with ya look for -- with yahoo for just four months. >>> the chief executive officer of jpmorgan chase is the first casualty of the blunder. ina drew has announced her resignation and more executives could follow. alexis christoforous has more from wall street. >> reporter: jpmorgan chase says its chief investment officer is retiring after a trading mistake that cost the bank $2 billion. the trades originated out of the company's british offices. ina drew oversaw that group. two other executives are reportedly on their way out. now there are calls for c.e.o. jamie dimon to be held accountable. >> i'd like to see jamie dimon, for example, resign from his position as a class a director of the new york federal reserve bank. >> reporter: that position allo

his credibility is shot to pieces with that. >> a guy that was from yahoo told me scott thompson had a good reputation on the marketing side but there were questions about the tech side. now probably more. he has a reputation of having a lot of hubris and being confident. does that shatter the myth about him in a short time? >> the reason this became basically a lie is because of questions about his kridability as a technologist. he knows it's a study of that, but not having the background. maybe one, two, three. >> i don't mind having an accountant running my company as long as i know he's an accountant running my company. one last thought. earlier this week i called the university of wisconsin. i don't know if you did this or not. i asked if carl barts at a c.s. degree and she did. indeed she did. charlene, thank you for being with us. >>> up next, they may have badges but they don't have warrants. how can police get data about you from your cell phone company? we'll have a closer look when "press here" continues. your phone does this all the time even when you're not making a call

ceo scott thompson out after weeks of scrutiny over inaccuracies on his resume. just like week piper jaffray analyst jean muenster told us investors shouldn't be worried about so-called resumegate. >> i understand there's integrity issues around this that you can kind of go back to, but the reality is this, when you make this find of hire, yes it's an oversight but does it really matter what the person did back in college? it's more about what they've done more recently. i think there's some things that can scott thompson can do to fix yahoo and to change leadership at this point seems like it's not the right thing to do. >> let's bring in gene muenster now on the fast line, see what he thinks. he's not going to have tat chance to do some of the things that you thought he could. where do you come now on yahoo? have you changed your opinion? >> -- sets the -- hello, hello. yes, disappoint. sets the company back another six months. sets back the old game plan which wasn't that old, and so as far as i'm concerned it was not the right move to do. but ultimately is go

yahoo has named ross levenson as the company's interim ceo, he replaces scott thompson resigned after an uproar over inaccuracies in his resume'. he had the job for only four months but was under attack from a group of shareholders that bought the company needed a better corporate strategy. >> stockholders were very unhappy with the direction that god was going in and i don't think it is so much scott thompson necessarily, the fact that he exaggerated his resume' but it is also an opportunity to shake up the board and i think that is actually more important to the stockholders. >> will street journal reports that thompson told the board that he as thyroid cancer and was one reason for his resignation. >> fallout is starting at j.p. morgan chase, with the resignation of one of the bank's senior executives. the shake-up comes after the company announced a surprise $2 billion trading loss. they said their chief investment officer will retire after more than 30 years of the bank. choose one of the highest- ranking women on wall street. >> the banks cannot regulate themselves. they are fin

what's not appropriate is this response of complete umbrage of, he does not care that scott thompsonax a computer sibs degrd science degree. look at his tenure at paypal and say is he good at this job or not. daniel loeb is not just looking for ammunition. >> you've got senate candidate eliz be elizabeth warren, marco rubio, are they responsible for fact checking their patients and grandparents? >> yes, they are. i think fact checking may be an extreme word for this. elizabeth warren with you knew her own family history and knew her own family stories. mark rubio knew his, too. it is t just seems like such a gotcha kind of culture. >> that's why proecunishment is question. you can suspend someone, fine them. you needn't fire them. it is important to find an appropriate punishment because when you make punishment too severe, people don't come forward. >> really fascinating stuff. randy, thanks so much. sfli enjoyed being here. >> we appreciate you having you with us. >>> up next on the "wall street journal report," a look at the news this upcoming week that will have an impact on your

hart was instrumental in hiring scott thompson. to add insult to injury, lobe wants her to pay back a $15,000 bonus when she helped yahoo! find its new ceo. >>> other news, video out of houston, texas, where this morning surgeons performed brain surgery while using youtube and twitter, showing the whole procedure. and don't worry, we're not going to show you the whole thing. answering questions as well from people all over the world. one of my favorite questions is, what's the difference between the drill you use in someone's head and the drill you would use at home that you get from the hardware store? the surgeon answers, basically nothing. they're the same bit. so yuck. you can check yourself, it's memorial herman hospital, just go ahead and google that. even though the surgery is over and it went very well, you can see the whole thing. back to you. >> thank you so much. >>> we do have more on the breaking news we brought you at the top of this newscast. independence high school in san jose is under lockdown right now. we're tol

scott thompson is out, after it was revealed he padded his resume with a bogus college degree. he's is being replaced by ross levinshon, the firm's head of global media. so what does this change at the top mean for one of the nation's biggest media companies? erika miller reports from new york. >> reporter: this is ross levinsohn, the seasoned ad exec who is in charge at yahoo!, at least for now. but let's be clear, even though scott thompson is out, the firm still faces big credibility hurdles. >> when you look at character and reputation, they are as important today as they are capital issues. and we can't have a company of any size, regardless of the size as yahoo that it plays in our economy and our culture when the ceo is falsifying information. >> reporter: the media giant's share price is now about half what it was in may 2008, when yahoo! turned down a bid from microsoft. revenues have fallen, as the company struggles to keep up with google and facebook in attracting online advertising. and now that thompson is out, his turnaround plan is called into question. >> there'

the problem it would seem with scott thompson is he padded his resume with educational credentials. they missed every trend on the internet. this is yahoo in general. social, local, you name it. there is a lot of work to do, but from the board level, what we want to see is better process and a rebuilding of the whole firm's culture. it is bloat and not focused, but this is a great business. this is a great management team we don't think is as currently constructed. finally he talked about ali ba ba and japan being valuable assets and he would like to see them rationalize. there is no rush. that doesn't mean liquidate everything tomorrow. he had positive things to say about the business and there is a lot to be salvaged. he is critical of the board and current management. that was a big theme there. as i have been at salt the last day or two, i heard a lot of fund managers including others talk about equities and the experience of looking at the stock market. investors are not getting the yields they want or should get from bonds. you don't want to overallocate. you want to look at e

it would be a shame to see it loose more ground. >> reporter: you know scott thompson had announce plans to layoff two thousand employees here at yahoo. it's not clear if that will still happen. his salary was over a million dollars with more in stock and bonuses. >> more details now on out going ceo scott thompson. before being hired he was president of pay pal. earlier he was executive vice president of technology solutions. he was also chief information officer of barkley. >> the wall street journal reporting three executive was jp morgan chase will be out by the end of the week. they reportedly include the head of risk management along with two others involved in that disasterrous trade that lot of the company two billion dollars. the financial giant ceo admitted today that it the company made a terrible mistake. >> we know we were sloppy. we know we were stupid. we know there was bad judgement. we are open for regulators but we intend to fix it, learn from it and be a better company. >> the ceo admits they will still earn a lot of money this quarter. the chair of the senate's invest

when they hired scott thompson who is running the company.told you this many times. the most of the value within yahoo! lies in their asian assets and how they monetize that is going to be the biggest driver of the stock price. that all said, i have mixed feelings about it because if it was early days, he was doing some worthwhile things at the company laying off people, refocusing the companies. even using the ip bullet against facebook as a possible weapon there. i think he was doing some interesting things, but he unwisely went to battle with one of the shrewdest, toughest, hedge fund investors out there. and it's like nixon said, i gave him the sword and they twisted it in with relish. whether it was anninadvertent o outright deception, it doesn't matter. the new guy has been angling for the job for a while. he's more of a media guy and they've had those in the past. i get flashbacks and it scares me. he's more on the interactive side and we should give him a chance, but certainly -- >> does the company need to be sold? >> to be sold? i d

the ceo scott thompson stepping down.news seems to be well-received by the market as the stock is trading higher. also on our radar today, symantec getting slapped with a downgrade by goldman sachs citing shrinking profit margins and worsening cash flow. that's the reason for the downgrade. aside from that, a big week for the nasdaq. history in the making with facebook's ipo. some analysts say we may see a shift of capital from money managers, allocating capital out of the zyngas and groupons and into facebook. time, of course l only tell. speaking of groupon, they report tonight. jim, back to you. >> amazon push this weekend was right to my neighborhood as opposed to the push of things i don't really want in brazil and brooklyn. >>> let's check out the latest moves in energy and metals and go to bertha coombs. metals, energy, still in free fall. copper in free fall. >> definitely. not just the eurozone concern. that's front and center. but as bob mentioned, china lowered its reserve requirements. but it's because its ind

scott thompson resigned after accusations he embellished his resume.oss levinson is taking over. here's more. >> reporter: when yahoo employees return to work tomorrow they'll be dealing with yet another leadership change. the third cocoa -- ceo in less than a year. scott thompson resigned after being on the job less than six months but scrutiny over his re may and company filings led to his departure. he claimed to have degrees in computer science when he only had a degree in accounting. his replacement is a familiar face to yahoo employees, executive vice-president and head ofba

thh company'ss c-e-o, scott thompson, left hii post... after reports surfaced of him llinn about hii college deeree.yahho's media chief, rrss levinsohn, ha aappinted some new board members.thompson aa withh yahoo forrjust four months. starting today... the pentagon will open more than 14-thousand combat-relatee rrles to women serving in the aamm.previously... femalee ssldiees were excluded frrm wwre eitherrclose to ground in ccmbat.buu advocates pushed lives by serving on theefront - lines in patrooss.. and in risky military police and security units.the defense department plans to assess the newwpolicy in 6 montts. ssving money is big business. companies effiiiency aae meeting n baltimore this eek to show off the latest prrddcts t save us money on our electric bills. joel d. mith is liveedowntown now to see if the savings arr really worthh ii. gooddmorning joel 33-3 3 3 3 calls foo change are growwng ... after an 18-month-old little girl was kepp off aa airplane because her nameewas on the governnent's áno fly listá. the americcn civil l

the company seeking direction after ceo scott thompson resigned. the market is seeing this move as a plus. that continues to be a stock we watch closely. switch to biotech, we're seeing a lot of moves there. vertex in specific after an analyst at jpmorgan raised their rating on vertex to overweight from neutral. and price target to $82 a share from $45. the analyst cited optimism over the company's cystic fibrosis drug. ty ler, back to you. >>> seema, let's turn now to bonds. fears of europe driving investors to the safety of u.s. treasuries. yields on the 10-year falling to their lowest level since last september. let's look at the bonds market action. there we start with the three-month t-bell. it's dead in the water. why? it pays no yield. look at that, 0%. no change, basically. 2-year note, the yield is up a little bit. but the 5-year note's yield, the 10-year note yield, 1.78 coming down and the 30-year t bond the yield there moving down. jane, let's go to jane wells monitoring jerry brown's news conference talking about the growing state's bu

dan loeb says scott thompson needs to go. what say you? >> i'm totally in dan loeb's camp on this. there's just no way if i work at yahoo! and i see scott thompson come in and give a talk to me from now on, i'm going to see his lips flapping, but all i will be thinking about is why in the heck would you make up a major you took one course in in college? who does that? i think he has no credibility in the eyes of the employees. and i think shareholders, you know, feel a sense of betrayal. not just with him, but with patty who picked him and apparently no vetting process that went on before giving him the top job. >> so if shareholders want to see thompson go, who do you think they would like to see in his place, eric? >> well, i think it's too early to say. i think the first thing that needs to be done is there needs to be a clean-up of the board. i think dan loeb and the three other nominees he's put forward should be put on the board right away. i think they're going to obviously the board's going to have to decide who to pick. i think there are some internal candidates. there's a

also because apparently three years ago scott thompson did a radio interview in which he talked about having two degrees. so no deniability there left for him as far as that goes. yahoo! has put out a couple different statements. one yesterday saying that this doesn't change the fact that he's qualified. then another saying the board is looking into it. and as you mentioned, third point saying too little, too late. this has to be dealt with and thompson must go. credibility for yahoo!. key issue right now for a couple reasons. one, layoffs. another dealing with the asian assets. with that spin-off going on and then of course this proxy fight. dan loeb tightening the noose here on this issue. not going to let it go. he still wants his board members to be voted in. sue. >> jon, thank you very much. speaking of jobs, we're going to talk more about the yahoo! situation and jobs in general. do you want a high paying job? well, we know a guy who can help you. he's coming up next. first, check out this high paying job in chicago. $115,000 for a safety and security manager in the windy city.

scott thompson, no surprise, he did not survive the resume' gate at yahoo.forced out of the door having quit this weekend. and had such fund operator d'angelo, getting what he wants. investors seem to be happy with this move. a big distraction with his ceo issue. as a result yahoo stock is trading higher in the early going by 1.5%. the totals falling at j.p. morgan chase in the wake of their $2 billion loss. executives expected to resign. wall street opening up, a deep hole this morning, more greek that worries as a stroke to form a government over there. the dow dropping 134 points. nasdaq down by 28 and the s&p lowered by 14. j.p. morgan chase giving up 2.5% at the pressure to the financial sector. back to you guys. >> in this morning's health watch, trolling new statistics regarding young adults with autism. a new study in the journal pediatrics fines autistic adults are 50 percent less likely to have a job in the first two years after high-school and other special education students. also a slippery to pursue higher education. this year in the u.s. 50,00

scott thompson quit under pressure following a controversy over his resume.n academic degree he never received. he took over in the continuing struggle to regain prominence. >> now, ross levinson will take over as interim ceo. abc 7 news joins us live from sunny veil for a look at what is next for yahoo. >> and not many tears being shed here over scott thompson considering he laid off 2000 of them about a month ago. now he's been fired. as he told his board of directors he has high roi roid -- thyroid cancers. >> the shake up creates new problems. and one biggest issue is a tarnished image. >> this is just a poster child for how not to operate a big tech company and not to stay on top of the curve. >> hosting was engineered by daniel loeb who found the smoking gun in a resume misstating thompson's college degree. as a journalist of all things dee.com points out he can't walk away. >> it's like a political campaign. he's got to solve the problem. and if he remains not in the mode of activist that, will be a problem. >> we'll see what the goal s for the roughly