matthew segal, who runs a nonprofit called "our time," started "buy young" earlier this summer. >> this is about getting young americans to support young businesses, the underdog, to help them grow, and to continue to create jobs. it's truly our response to the economic crisis facing young americans. >> reporter: so far, about 50 businesses are taking part in the effort. once they sign up, companies are featured on the "our time" website, which offers 30% to 60% discounts on merchandise. one of the "buy young" businesses is smathers & branson, which makes these needlepoint belts. >> there's a lot of time and thought that goes into the quality, to the actual stitching, to the design. >> reporter: peter smathers carter co-founded the company with his college roommate after both of them received needlepoint belts from their girlfriends. now, seven years heir products are in 700 high-end boutiques and department stores. carter says "buy young" is helping spread the word to new customers. >> the sheer number of people they have on their emailing list was incredible exposure for us, and we've

he is going to be greeted, as you said, by san josi chuck reid and mountview mayor segal. ly meet dr. warden, who center director for the research center. and just having mayor reed and mayor segal here, this really feels like more of a south bay visit today as compared to when the president was here back in april. there you had, i believe it was the mayor and dignitaries from san francisco. here it's more of a south bay showing as president barack obama speaks with them before he gets into his car, heading off to woodside for his first fundraiser that began at 5:00 this evening. >> ken pritchett leave at moffett field. president obama has arrived, had 45-50 minutes off schedule. we have more on ktvu.com. >>> we're going to take a break and we'll be right back. ♪ sea bass... ♪ ooohhh! ♪ i like it. yeah, i love the kitchen. [ male announcer ] the epa-estimated 42 mpg highway chevy cruze eco. perfect for finding your way home. definitely seemed like fall around the bay area. gray and sprinkles of the let's go to mark for a look ahead at your workweek. most of the showers mov

mark segal of our fox news medical a-team.e talked about this mostly with cancer drugs and generics and injectables. there's some news you want to tell us about. >> they're 209 drugs short right now. three times what it was five years ago, these are life saving drugs and the f.d.a. is starting to have meetings about this. day long meetings starting monday. shocking during surgeries it's going on. trying to pass a new law that will require drug companies to alert the f.d.a. when a shortage occurs. i think that's a great idea. let me tell you what the shortage is due to. shortage of raw materials, we're getting 80% of our raw materials from prescription drugs overseas, shovel ready project. >> jamie: shocking. >> let's get the government subsidizing materials here instead of going there to get them. generics, not enough profit and the drug companies don't make a profit. >> jamie: so they don't make the drugs. >> they don't make the drugs, that involves chemotherapy, heart drugs, steroids, antibiotics. the fourth problem is that

binoculars but it pays no attention to the expedition a bit later the only follow just see another stella segal a short distance away. meanwhile the ranger returns from his rounds of the territory he says he has found no poachers. some say the series here in the north is very monotonous but in fact it is very beautiful this is rhododendron our springtime flower which is listed in russia's red book endangered plants and animals this one began to bloom just a few days ago. when the rising tide comes they will need to collect some two hundred liters of fresh water this supply should last until the end of the trip many of the expedition participants have been suffering from dehydration this is the only chance to replenish the water supply for as long as the ship remains at sea. this water is absolutely fresh because it comes here from the snow fields the water is cold but it's pure completely clean and very good for drinking and it's smooth to. the water is now on board and the ships tanker is raised the weather is ideal for making observations half an hour later taken to an eagle's nest which is n

we had yesterday one of the witnesses from seagull, segal company on it along with independent audits to determine what is the validity of the overpayment has really been overpayment. i think the postal service alleges that those segal company and hate groups that we think there's an overpayment from at least 50 billion to as much of $75 billion. the administration is not finite yet. we had some discussion. they were here to talk about that and we asked the witness from gao if gao would be willing to take a look at the work that has been done by the two independent auditors to find out whether they are valid. we need that kind of direction. if you will, a good housing stamp of approval from gao would be helpful as we try to know if and not the postal service take out of the hole they are in and return to profitability is. is that something you can help with? could be most grateful. >> definitely, senator. we'll be able to do that. we are the chief actuary if gao that would be a little figure out that status and we will do that. i understand the tasking work and will deliver that. as y

after taking competitive bids the segal company was selected to analyze and make recommendations.met with stakeholders and reviewed the actuarial and accounting standards, and we concluded that the most relevant benchmark was the accounting standard applicable to private companies. this was the only one that had as the primary objective the matching of revenues in the postal service's case, selling postage, with the labor cost to produce those revenues. that was our assessment of the appropriate basis for evaluating the fairness of the csrs cost allocation. the accounting standard provides clear and not discretionary direction with regard to plans such as csrs that provide non uniform benefit accruals, in this case higher accruals in later years of employment. the expense charge requires following the plan cycle formula as opium was doing. it also requires the cost allocation for a final average salary plan like csrs must reflect the anticipated future salary at termination or retirement and may not be limited to the cost based on the compensation at the time the work is done. ref

we had yesterday one of the witnesses from seagull segal company on it along with independent audits to determine what is the validity of the overpayment has really been overpayment. i think the postal service alleges that those segal company and hate groups that we think there's an overpayment from at least 50 billion to as much of $75 billion. the administration is not finite yet. we had some discussion. they were here to talk about that and we asked the witness from gao if gao would be willing to take a look at the work that has been done by the two independent auditors to find out whether they are valid. we need that kind of direction. if you will a good housing stamp of approval from gao would be helpful as we try to know if and not the postal service take out of the hole they are in and return to profitability is. is that something you can help with? could be most grateful. >> definitely, senator. we'll be able to do that. we are the chief actuary if gao that would be a little figure out that status and we will do that. i understand the tasking work and will deliver that. as yo

casey segal joins us live from new orleans with the flood damage there. it looks like you are almost done with the rain but you are still holding onto some, right? >> reporter: yeah, steve we are. it's dry at the moment. but about 15 minutes ago or so, it was really coming down. that's what we've seen as we've been here all weekend. sometimes we have heavy downpours and then it will taper off. the city of new orleans faring quite well, after receiving quite a bit of rain. the primary concern, flash flooding. not the wind so much. we did not have very heavy winds with this particular storm. jefferson parish, water covering some of the roadways there and then about 40 miles north of there on the other side of lake pont -- pontatrain, a lot of people are familiar with with from hurricane katrina. the rain is supposed to taper off today after this thing continues to move inland, which welcomed news as the pumps continue to work and the water recedes. obviously, this is a holiday weekend. the big easy. this morning we did an interview with the marketing corpor

mark segal. >> i figure it will. thanks. bill: martha, what's next. martha: the debate over president obama's jobs bill is heating up right now. the he had hads of the republican democratic parties have been scaring off on national television and they're talking about who they think is to blame, plus this. chaos on the streets after a century's old tradition comes to an end. [shouting] let me tell you about a very important phone call i made. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you up to thousands of dollars. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. wh

after taking competitive bids the segal company was selected to analyze and make recommendations.met with stakeholders and reviewed the actuarial and accounting standards, and we concluded that the most relevant benchmark was the accounting standard applicable to private companies. this was the only one that had as the primary objective the matching of revenues in the postal service's case, selling postage, with the labor cost to produce those revenues. that was our assessment of the appropriate basis for evaluating the fairness of the csrs cost allocation. the accounting standard provides clear and not discretionary direction with regard to plans such as csrs that provide non uniform benefit accruals, in this case higher accruals in later years of employment. the expense charge requires following the plan cycle formula as opium was doing. it also requires the cost allocation for a final average salary plan like csrs must reflect the anticipated future salary at termination or retirement and may not be limited to the cost based on the compensation at the time the work is done. ref

after taking competitive bids the segal company was selected to analyze and make recommendations. stakeholders and reviewed the actuarial and accounting standards, and we concluded that the most relevant benchmark was the accounting standard applicable to private companies. this was the only one that had as the primary objective the matching of revenues in the postal service's case, selling postage, with the labor cost to produce those revenues. that was our assessment of the appropriate basis for evaluating the fairness of the csrs cost allocation. the accounting standard provides clear and not discretionary direction with regard to plans such as csrs that provide non uniform benefit accruals, in this case higher accruals in later years of employment. the expense charge requires following the plan cycle formula as opium was doing. it also requires the cost allocation for a final average salary plan like csrs must reflect the anticipated future salary at termination or retirement and may not be limited to the cost based on the compensation at the time the work is done. reflecting

two separate audits done by segal and company and a consulting company called hay group some have concluded that the postal service has overpaid its obligation into the civil service retirement system by $50 billion or more. they've estimated they have overpaid to the federal service retirement system by about $7 billion. postal service has asked to be reimbursed for those overpayments and would like to use those overpayments on the one hand, to help meet their obligation to pay the heavy health care costs for folks that are retired from the postal service or about to retire. it's an obligation under the 2006 law. they would like to use some of that $7 billion overpayment in the federal service retirement system to incent folks who are eligible to retire from the postal service to retire. 80% of the cost of the postal service are people. 80%. the postal service has reduced its head count of about 800,000 people to, say, 600,000 people over the last seven or eight years. they need to be able to continue to reduce that in the years to come. roughly 100,000 over the next two or three years thr