>> smith: the year was 1960. madoff had just graduated from hofstra college and married his high school sweetheart, ruth alpern. he was working out of her father's accounting firm in midtown manhattan. from there, he launched a career as a market-maker, matching buyers of stocks with sellers on wall street. >> he started this little stock trading firm, one of many in wall street's outer fringes at that time, and slowly built it up, building up customers. it was kind of like a wholesale firm. >> he would actually pay clients such as fidelity, charles schwab. he'd pay them a penny a share to come and trade through him. so he saw lots of trading volume that way. >> smith: in other words, he would pay for what they call "order flow"? >> exactly. >> smith: what wasn't known on wall street was that madoff had a side business as an investment advisor. >> the investment advisory business operated, so far as we can tell, completely under the radar. we know, to some extent, that it began small; customers of his who go back

that was deflected and never got through to mike smith. smith again. picks it up himself. chipchura behind the defense. >> quick stick of brent seabrook when's been really good at that in the series. >> hjalmarsson for kruger. marcus krug ere to center ice. back to kruger. shaw again. kruger. comes out in front. smith out. and yandle has it. yandle up the far boards. good keep-in by oduya. that was blocked. >> good block by morris. nice steam by oduya to keep it in the zone. >> yandle with a wrist shot now. he'll hold it there. 13:09 remaining in the third. in the final round the audience choice ingredient bud light! and here we go. looks like chef dubois is emulsifying the bud light into a foam, what's his competitor doing? he appears to be having a really, really good time. cheers. a bud light reduction for dubois and his opponent? also improvising nicely, let's see that again. judges? i like the use of the pressure cooker to tenderize the beef. but also the use of the cell phone to order the pizza. [ male announcer ] it's the sure sign of a good time. the just right tas

smith and mr.them. >> reporter: for nancy smith, every day spent outside of prison is priceless. too priceless to waste thinking about the life that might have been. are you bitter, angry? >> you know, what was a time when i was bitter and there was a time when i was angry? but you know what? this is about me and my freedom and innocence. can i forgive and move on? absolutely. because somebody has to forgive them. so why not start with me? what kind of a christian would i be if i didn't. >> thanks to ron mott. before we leave, our thoughts go out tonight to the friends and family of mike wallace of cbs news. he died last night at 93. he had a remarkable career. most famously as a founding correspondent on "60 minutes." his reporting and interviews set a high standard for all of us in television journalism. nbc news, will have more about mike wallace tomorrow on "today," and an exclusive. at home with the duggars.

the for-profits spend more on marketing... >> yes, they do. >> smith: ...and outreach. >> yes. >> smithw does that contribute to the fact that they're signing up at a greater rate than they are to the other schools? >> we believe, based on conversations we've had with the various veterans' organizations, that they believe that their members are very well-equipped to understand all their options. >> smith: you're saying the veterans are well advised? >> absolutely. >> smith: they know what they're getting into? >> absolutely. >> smith: they're not subject to sales pitches that come too fast and furious and misinform them? >> they are not allowed to be misinformed. it's against the law. in addition, they... >> smith: it's against the law. that doesn't mean that it doesn't get done. >> i'm saying it's against the law. >> smith: the agency that helps enforce that law is the department of veterans affairs. the va's keith wilson oversees the gi bill. have you tak action against any school for over-aggressive pursuit of veterans? >> we do. it's... it's not... it doesn't happen a lot, i guess,

well, what joseph smith did is to sort of supercharge it with high octane fuel, to make it even more amazing. the possibility was the fact that we have unlimited territory, the people are energized to do it, and we've got the frontier, so there's a lot of space to move on, and move on they did- as we said, establishing great communities like nauvoo. and finally, the place. well, the place today, just to run that down for you, the place, of course, is utah. after the death of joseph smith in carthage, most of the mormons, after continued harassment, followed brigham young out to utah- that becomes zion for them- and today, that's the latter day saints. there is 8 million latter day saints; it's a very, very large movement. so we have 8 million folks in the latter day saints movement. the second group is, with 250,000, are the reorganized mormon church, and they still hold to the independence, missouri, is the center, and they have followed the descendants of joseph smith. thereafter, there's several other different sects, but the idea here is that the place becomes utah, the place bec

randy smith is 64. a lifelong west virginiaen. >> it changed my life in the way i wish it could change everyone else's. you don't have to worry about paying your bills like i always did. i guess the best feeling i had was when i could pay off my house. >> he mounted the winning check

smith has just finished recording her 14th album.t. and she's working on a sequel to her memorandum... to her memoir. have you always been so driven? >> yes. love and work is always, to me, the most important thing. i'm just a born worker. just makes life so exciting. >> rose: still to come, 3-d. in perspective. and chantix worked for me. it's a medication i could take and still smoke, while it built up in my system. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these, stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these, stop taking chantix and see your doctor ri

>> smith: so you take a lot of crap... >> that's right. >> smith: ...a lot of mortgages that are... >> hideous crap. >> smith: but you insure it and the credit agency says, "hey, that's a good idea." >> yes. yes. >> and it seems that in the housing market many investors actually began to take more risks precisely because they thought th they had bought protection with credit default swaps. >> new home sales jumped 13% over a year ago, while existing home sales rose 4.5%... >> narrator: the team at j.p. morgan was also dabbling in mortgage debt but they weren't sure it made good sense. >> we traded mortgages. we had some mortgages on our books. we certainly understood the mortgage-backed security market. but we had a lot of trouble getting comfortable with that risk. the big hang-up for us was data. we had years and years of historical data about how corporates performed during business cycles. but we didn't have that much data about how retail mortgages performed during different business cycles. >> we knew how much money people said they were making. we saw that ubs and merrill lynch

hunt, adam smith who is his special advisor has resigned over his role in news corp.'s attempted takeover of beskyb. the creative perception that news corp. had close relationships with the department of culture, media and sports run by mr. hunt. news corp. international chair chief executive rupert murdoch in the first of two days of questioning, today and tomorrow. investigating media ethics and practices. here's mr. murdoch's testimony from earlier today. >> on monday afternoon, i said this -- i understand the very real public interests in the issues that will be ventilated by the evidence. are also recognize the freedom that permits what is said to be discussed and the subject of comments in whatever way saw fit and i shall be interested in how is covered. for my part i shall approach the relationship for the press and politicians from entirely nonpartisan judicial perspective. that is the reason i was given this. i would hope that this approach will be made clear. when i said those words i had in mind some of the evidence that i anticipated we would hear, includin

i will go back to what adam smith said this morning. he said the content of my authorization was done without advice from the secretary of state. >> we can see the secretary of state's integrity highlighted by the way he went about it. there is a gap between some of the evidence we have hard. this highlights why we should wait for this inquiry to finish. >> he is absolutely right. this is a huge opportunity to get things right. we have heard evidence that has some flaws in it. anyone looking at it objectively will say that we need to look at all of the evidence and not jump to conclusions. >> there is a takeover bid. >> i am happy to identify all communications with his office. i will look into that matter. >> mr. speaker, the secretary of a came to the house -- is harming the house in the way he is answering questions. can the secretary of state clear up the statement and say it was absolutely untruth? >> there are allegations in an e-mail that that did not happen. i am unable to come to the house and say what the truth was or otherwis

>> smith braces had himself for his answer but he never gives one.rightened for her life she makes the split second decision. >> i thought he was going to hurt me. i got up like i was coming around and then i grabbed the gun. shot at him. >> smith has endured being robbed time and time again. but this time, the no nonsense store manager, who has never fired a gun in her life, shoots the man. one time at point blank range. >> i didn't even realize i hit him at first because it took a minute. >> now, armed with a little more courage, smith makes sure the robber doesn't try to hurt her. >> don't move. >> i was scared. i said, hey, show me your hands and he said, i don't have anything. >> it turns out the robber doesn't have a gun. smith is both relieved and annoyed. the robber pleads with her. >> please, don't shoot me. call 911. >> in a dramatic turn of events, it's the robber who's now afraid for his life. >> he was squirming around on the floor and i said, you weren't dialing 911 when you were robbing me. shut up, i'll call them. >> smith keeps the g

this is what's left of takia smith's home here on yale avenue.that broke out in his vacant home 3ext ddor. - the fire broke out at abbuu spread to smith's house and another vacant home on the pther siiee smith, her fiance and their 3-month-old daughter were all asleep ... when neighbors alerted them by throwwng bricks at the house. the family made it out ooay... but the ouse they just bought smith blames the ity for not - doing something about the vacants earlier. 604 why not at least them knock them down if yyu're not going to fix them p? 07 why are they sstting here to cause abuse all in thoss vacant ingg housee that's sitting around for nothing 17 the city says it is working to tackle hh vacant housing problem through rehab initiatives like "vacants to value." meanwhile, smith is now getting help through the ped ccoss, as investigators try tt determine what caused the fire. live in southwest 5. timore, ms, foo45 news at - just houus later... firefiggters were called to anooher fire that started in a vacant home. this time in east baltimore...

i'm christie smith. coming up, i'll tell you what neighbors saw in a live report. >>> three weeks and still no sign of sierra lamar. i'm bob redell. we're taking you live to morgan hill where volunteers will try another search for this missing 15-year-old girl. >>> also, the bay area's newest crime fighter does not wear a cape or tights. why police are turning to facebook to crack down on crimes just ahead. >>> taking a live look outside this morning, hp pavilion. it is friday, good friday, in fact, april 6th. this is "today in the bay." >>> good morning to you and thanks for joining us. it's 6:00. >> i'm john kelley, we check in with christina loren. and as i was driving in, a spectacular full moon out there. >> the good news is it's clear and you do get a clear shot of that full moon. had we had more cloud cover this morning, it would be much warmer, but without that cloud cover, clear conditions, all the warmth from yesterday radiates back out in the atmosphere and we're left with temperatures one deg

. >> reporter: linda smith is a nationally recognized child care advocate. since this interview, she's become deputy assistant secretary for early childhood development for the department of health and human services. big picture. how good of a job are we doing in this country monitoring the safety and well-being of children in day care centers? >> i think i'd have to give it probably an f, to be honest with you. >> reporter: an f? >> f. >> reporter: smith says only 11 states do full background screenings that cross check fingerprints with state and federal databases. >> the rest of them are all over the map. >> reporter: how bad it is? a recent u.s. government investigation found 24 potential cases of registered sex offenders working in child care centers in just 20 states. how is that possible? >> most states are not checking the sex offender registries. >> reporter: we wanted to find out for ourselves just how serious the problem is, so we obtained the name of licensed day care provider in five states. new york, texas, kentucky, florida and georgia, and r

i'm christie smith. i'll tell you what's expected in court today. >>> first, the celebrations now of the real work begins. what's next for the 49ers new stadium project coming up. >>> and emergency landing after an l.a.-bound plane hits a flock of birds minutes after takeoff and it's all caught on camera. >>> and how about a live look at the bay bridge lit up on this early friday morning, april 20th. this is "today in the bay." >>> good morning to you, it is 4:30, i'm marla tellez in for john kelley today. >> and i'm laura garcia-cannon. >> good morning. break out that summer wardrobe for the next two days. temperatures climbing to near record levels. and we're talking about the mid-80s today. tomorrow, plenty of 90s on your temperature map. you want to dress in layers. temperatures in the 50s. we're headed toward the mid-80s. we'll take you through your full forecast first. it's a get away friday. let's check your drive with mike. >> it is a get away friday. right now, we're getting away from constructi

>>da: alex smith and his wife took part in saturday's search. he says the search was not about him and he did not want to shed the focus away from finding sierra lamar. smith and his wife were among the 581 people who took part in saturday's search. the same as the volunteers eyes every once. >>caller: i was very gracious. it touched their hearts, obviously. >> i am a big 49ers stand. it is good to see high- profile people coming out. >>da: sierra lamar think the 49ers for coming out yet alex smith other volunteers did not result in any significant discoveries. what will >>ysabel: a young woman fatally stabbed in fairfield and police are still searching for a suspect. here is a live look outside on the bay bridge. looks like things are clearing out. we will be right back. buy one spectrum by lg, and get one free ? with verizon 4g lte and a 4.5" true hd display, it's great for watching movies and sports, a true hdtv experience right on my phone. i'll get one for me and one for my wife. i'll be like [manly voice] "a phone, my sweet" and she'll say

smith. i'm curious to find out what stereotypes you were cob fronted with at your school and in the community, and how that affected expectations. and also, i would like you to look at your curriculum and tell me if you think it embraced your culture and how that affected your participation in school? >> stereotypes? >> we'll take it. >> well, me, stereotypes, i really -- i was -- i really didn't pay attention to things like that, because i'm just trying to get education, mainly. but the curriculum, it was pretty easy, but it could get tough at times, like things i didn't know, but the teachers made it kind of easy for me. they stayed by my side until i really understood what i was supposed to. >> okay. >> that stereotype, he says, is major for me. it can be emotionally debilitating. it really can. especially when you're participating in systemwide meetings or just talking to colleagues across the system. knowing that you work at the school that's considered the bottom of the barrel, knowing

christie smith there. we will look over to 880.ive shot past the coliseum where as christina has been talking about, you see congestion right now. very smooth flow. nice wednesday shaping up. >> we like it smooth on wednesday. thank you very much. san jose students have gotten their class project to raise the city's minimum wage on the november ballot. scott mcgrew says if it passes that means raises all around the city. >> yeah. that's exactly right. good morning. most city based minimum wage laws are only -- affect city workers or city contracts. but this ballot measure created by the sociologist students from san jose state university will affect the entire city of san jose from border to border. raising the minimum wage to $10. now, it used to be a -- economists used to think raising labor costs hurt businesses. it seems like common sense. but exhauhausexhaustisve shows raise money. >> when you have a minimum wage increase what happens is the workers stay longer than they otherwise would. and that means the that the cost to the

i'm christie smith. i'll have that story coming up. >>> i'm meteorologist christina loren, live in the nbc bay area weather center. you may be breaking a record in your city over the course of the weekend, then the rain moves in. lots to talk about in my full forecast. >>> and we're tracking this sig alert, a big rig, a couple of them, and some fuel on the roadway. this situation changes even as i'm reporting. i'll give you the latest coming up. >>> and giving you a live look. you've got to take a look at this live shot. san francisco, what's covered in the fog? that is alcatraz. what a shot on this friday morning, "today in the bay." >>> good morning, everybody. thanks for being with us. it's 6:31, i'm marla tellez in for john kelley today. >> and i'm laura garcia-cannon. and the latest developments new this morning as the hearing is getting underway right now in sanford, florida, to decide if murder suspect george zimmerman will be released on bail. zimmerman is in court this morning. there he is in a

smith mentioned this morning. you call for the phasing out eventually of the subsidies to the electric vehicles. and you also call for a restructuring of the biofuels subsidies -- actually, the subsidy has gone away. but what we still have -- we still have a mandate. i guess my question then is fundamentally of a political nature. and it is it seems awfully difficult for the u.s. government to get rid of a subsidy once it's created. and so is it really realistic? i mean i agree these are good policies and would be desirable. but don't we run the risk if we create a subsidy that it stays there even after the need for it has disappeared? >> look, we operate in political system that cannot, cannot raise the price of fuel. through taxation. we have 18 cents a gallon federal tax on fuel, which is ridiculous. the average in europe is $4.50 so that the gallon in europe is $9 a gallon. that $9 a gallon you need no government subsidies to get people into alternative fuel vehicles. in fact the chevrolet volt, when we announ

. >> it is inspired by judy smith, a manager. and a show producer. >> we hope you watch it and enjoy it and appreciating or hometown on television if. >> to takee opportunity screening as well as a discussion with judy smith about the drama starring kerry washington as a woman who a life to protecting theic images of nation's leaders. give viewers an of what exactly she does. >> a lot of people see high- cases in the newspaper tv.watched them on always wonder who is a behind- scenes making things happen. "scandal" was created by rhimes, the woman behind anatomy and private practice. a big winnerll be as well. season premiere tonight at 10:00 on abc 7. then and 11:00 tonight i will more on the series and smith. give you a hint of what's to come. episode is very thought-provoking and very shocking. i will talk to judy smith about these shocking out what isand find fiction. story is based on her life, but there have been some .ramatizations >> sounds scandalous. i look forward to it. it is 48 degrees at adelphi. >> there's a propose

smith killing them instantly -- emerald smith killing them instantly. >> i don't know what my reactionl be. it's going to be so hard to see the guy who took my sister and emerald away. it's going to be a little mind blowing to see him. i've seen his picture and i am looking at him like this is the guy could killed my sister and to see him in person, it's going to be a little hard. >> reporter: dunn's girlfriend ken dray miles is expected to testify -- ken dray miles is --en-- ken dray smiles is expect he caned -- endray miles is expected -- ken dray miles is expected to -- kendra miles is expected to testify at the hearing. >>> we are waiting to find out what caused a church fire on north point boulevard. fire crews were able to save the altar and other parts of theworship area. it affected office space primarily and it was a partial roof collapse. crews are not sure if arson is the cause or if it started in a nearby shed. >>> new names have been add to the most wanted list. he was someone who worked closely with children and sherrie johnson has more on the story. >> reporter: 30-year-

he was suspected of driving drunk a 4th time, involved in that smith..n we firrt reported this story, the governor's spokessoman told us had happened. bbt now, we've obtained documents that knew all along."bob whitwell, a former federal prosecutor, was one of the friends who pushed for bbstick's pardon. &pbut just days after the deadl car accident, and before bostick was pardoned, he wrote a mmcc different email to his law school friend delbeet secretary of state in "my friend was iivolved in a - motor vehicle accident (m v a) ... he had been drinking... i had no idea he had messed up. therefore, hold up on helping him. all of us are in shock. sorry."the email was forwarred to the governor's office. responded, "ok will do."- despite the email, governor barbour "helped" anyway ann the email, we wanted you to see it.""that means they knew it and they still pardoned him.""so this was 4 days after charity was killed?""four days. that is not charity was killed?""so this was 4 days after him."and they still pardoned him.""so this was 4 days after charity was k

i'm christie smith.ing up, we have new information about the victim. >>> a new era for the 49ers. we'll take you live to santa clara where the team is just hours away from breaking ground on their new stadium. that story coming up. >>> also, ross mirkarimi back in court a day after the sheriff gave his side of the story in the domestic abuse case. we'll have the details coming up. >>> and live in the nbc bay area weather center. comfortable conditions later on this afternoon. but we might just get uncomfortably warm in your city come this weekend. i've got your full forecast. >>> and looking a the the south bay northbound 101 still jammed up because of an earlier accident. couple cars still got to get off of that highway. i'll tell you what the latest is coming up. >>> and a live look outside. foggy start, beautiful across the bay area for your thursday, april 19th. this is "today in the bay." >>> good morning to you, and thanks so much for joining us. 6:31 right now, i'm laura garcia-cannon. >> and i'm

with good behavior, smith served less than a year, then he was released on probation. katie's stepfather was outraged. >> i think, actually, in my heart, it's a slap on the wrist. and it's an insult. >> reporter: as he feared, smith is now in trouble for drinking again. >> reporter: a bartender testified that she cut off kevin smith, after he got drunk at lunch, having five drinks and barely eating and food. >> i thank her from the bottom of my heart. because she stepped up and said what was going on was wrong. and she wanted to get involved and help. >> reporter: in court, a judge could have revoked probation. instead, smith was sent back for more than a year. >> reporter: what do you think of state laws that make up for this. >> i think the lack of accountability in the state of maryland is a joke. >> i don't think justice could ever be served in this case. >> reporter: as of tonight, right now, smith is back in jail. he is locked up. but if he earns enough behavior credits, he could be released before the end of the year. reporting live, adam may, wjz eyewitness new

smith, fox 45 morning news. md upper marlboro, md waldorf, md 3 3 olympic gold medalist skier lindsay vonn couldduse a little advice... when it comes to tax dayy &pday.according to public &precords... vonn owes more to the i-rrs.the money owed rs - was from 2010... the sme year vonn won the gold in vancouver. the i-r-s filed a tax lien aaainst the skier and her estranged husbaad, thooas vonnn the tww are in the middle of a divorce.the skier released a statement on facebook owed. omising to pay what she in san francisco... a truck is stirrinn up controversy... forr the cargo it carrres. carries.take a look at ttis.... if you can't tell... it's a strip club on wheelssit's called the larry flynt hustler cllb truck... and city officials arr now fighting to have it banned. "for little kids, i don't think it's apprrpriate."-butt to-"i thinkkthere are more important things going on in tte world than worrying about a vehicle like this." this."there is a city law that forbids vehicles commercially adverttsing on public s

smith replies, "because it's illegal."f 10 days, smith sends her links to 40 pornographic videos showing everything from oral sex to sex among multiple partners. he tells her when he comes over he wants to perform oral sex on her. and now here he is walking into the house. >> hey, come on in. how are you doing? >> good. how are you? >> awesome. >> good. >> i made us some drinks. >> awesome. >> and we have a hot tub. >> awesome. >> i really liked your videos, by the way. >> did you really? >> so how have you been? >> i've been good. it took me like 21 minutes to get down here because there was so much traffic. >> are you serious? where do you live? >> north hollywood. >> oh, that's not bad. >> we have a lot to talk about, you and i. why don't you have a seat right there, please. >> okay. >> no, i need you to -- >> i have to go, i'm sorry. >> you're going to want to talk to me. trust me on this. >> now, you work at nickelodeon, huh? >> no. >> you don't? what's your name? >> police. get on the ground. >> get on the ground. ge

agnes smith has resigned as my special adviser -- adam smith.lthough adams smith has overstepped the mark on this occasion, i will say for the record that he did so on and potentially and he did not believe he was doing anything more than giving advice on process. it is a matter of huge regret that this has happened. i only saw the transcript of these communications yesterday. they did not influence my decision at all. i insisted on hearing from independent regulators. i will give my full record of events. i would like to resolve this as soon as possible. i am confident that when i present my evidence, the public will see that i conducted this process with scrupulous -- throughout. >> i thank the secretary of state. this was of a huge commercial importance and have profound importance for all of broadcasting including the bbc. the business secretariat has been stripped of his responsibility because he had already made up his mind against the bid. the culture secretary made up his mind in favor of the bid. how did he think it was proper to take o

it is reason in free verse and about black smith, west african black smith. they were thought to be magicians. 1725, oh molly in the west africa. the drums -- be ware of sea birds, be ware of men that steal up the river through the great forest. and into the savannah lands. the moans and groans, hundreds, thousands stolen, we rarely speak the taken, i will this time because you have asked. come back, back, back, far edge of memory. we recall them and they are black smith, by all accounts a master craftsman, worthy of praise, honored as a powerful magician. one who could speak the old names of the mother elements, earth, fire, water, wind. they would do as bidding, think. people sing praise songs. he was a gifted black smith. he is not remembered for that. he is best remembered for being a loving father. when his beloved wife died only after a year and embraced his newborn son, i will raise you myself. the elder women with argued against it saying you'll grow up wild without a gentle hand of a mother, a gentle hand to guide him. must divide by custom, take ano

alex smith is joining in on the efforts to locate sierra lamar. it has been three weeks since her disappearance. a man accused of sex and assaulting three underage girls was arrested this morning, details and a minute. >>james: here is a quick look outside. cold temperatures is what we can expect. really cold, especially in the north bay. there is a frost advisory in effect. this afternoon, sunny and warm, a lot of '60s around the bay area. low-mid-60s into this evening, mild and dry. the weekend looks good at least for saturday. we do have changes in the mix for sunday. >>george: it is time for a quick commute check. it is of goodness. there are no hot spots. on the bay bridge, no delays westbound. around the bay you will find light traffic conditions to the east bay and on the south bay commute even 101 through the north bay into the right through the golden gate. >>justine: here is what is just into the kron4 is from. we have seen that jobs report showing us that the u.s. economy slowed in march by adding just one of the 20,000 jobs for the mon

christie smith has been live at the scene.ight now we want to police to investigators making comments. >> i wouldn't be able to comment on that. >> do we know what the relationship between the deceased and the residents of the house is? >> we do not. and that's something we're trying to determine. so we do know that the call came in from that house. we're just trying to establish what the relationship is now between the victim and that residence. >> was the deceased person in the house? or were they on the street? >> they were located in front of the residence. i don't know if it was on the sidewalk, grass, or street. but it was outside in the front area. and so -- but the call again came in from that house on the 200 block. and so now it's just a matter of trying to determine the relationship between the victim and what -- why he was there and try to identify the individuals in the house. >> are they making any demands before giving themselves up? why are they hold up? >> i don't have any information as to whether they've mad

smith, you should be feeling pretty good. first of all, you didn't mention it, but your company is one of the most efficient users of fossil fuels obviously looking to get vehicles more fuel efficient. you're a leader in the industry and you should be commended for it. but if you take your five points greater oil production, we've embarked on that, rather dramatically in the last four years in terms of natural gas. our production has moved up so that the cost of natural gas today is what, $2? >> right around $2 per thousand cubic feet. against almost $6 to $7 a few years ago. >> $13 at the turn of the century. >> well, i don't go back that far. looks like you did either, perhaps. overstated. electricity. electric cars, we're moving in that direction. we're not quite there yet. we're certainly moving in that direction. biofuels? yes. not quite there yet. we're moving in that direction. and lastly, fuel efficiency. if i recall correctly, president bush's goal was 35 miles a gallon. president obama's goal is over 50 miles a gall

by way of introduction, and let me turn it first now over to fred smith. this is a very distinguished group of individuals we have up here. all of whom have come together to talk about improving our nation's energy security. fred, how would you say our nation's energy is insecure today? >> ken, first let me update a couple of numbers there. fedex, i think earlier about $43 billion, a company that operates about 95,000 trucks. and the reason i emphasize the number of vehicles that we operate and, of course, your figure on the airplanes are pretty close, but what's happened is they've gotten bigger over time. it's the biggest wide body fleet in the world. we came to this issue a long time ago. when fedex was first beginning operations in 1973, in short order, we were faced with the first embargo in the fall of 1973. wherein in response to u.s. actions in the middle east to support israel, oil was withheld from the market and the united states had begun to be a significant importer of oil. and the government had to allocate oil to individual users. so we were

so offer needing the black smith to keep you working. to build your axes, increasingly by the 1800s, black smiths are repairment. they're fixing plows and changes and schools and saxes. back in the 16 and 1700s, they're doing more of the making of those implements. by the 1800s you have people specializing in making things like axes and plows and other tools and then your neighborhood black smith is mort repairman that keeps new business by fixing those tools. >> the blue flames indicate that it's a cleaner fire than the yellow flames. the yellow flames along the end mean that i'm cooking off the impurities in the coal, called coke, which is the relining form of they'll boll like the reformed form of wood -- i make coke out of my coal so that i can get my metal hot enough to be soft enough to hammer on. and i don't have to hit it hard when it's hot because it's softer. and it's basically just a matter of dropping my hammer onto the metal. >> mills are the last water powered mills to come along at the very end of the 1700s and they're the

he was later a clerk for judge smith. he joins us.ice to see you. >> thank you. >> you wrote a piece today. tell me about your thoughts about then professor' obama -- what he was like as a professor and what he said the other day and what impact does that have? >> he's a very good professor, a likable guy. you have to say when i picked up the wall street journal the day and read the comments overturning it would be unpress denned and extraordinary, i was shocked because that's so contrary to the actual truth. i know that he knows that and i thought a post in my blog that i was embarrassed that he tarnished my educational credentials, which i don't really think that people are going to think less of my university ever chicago education but it's true that the university of chicago was a very rigorous place that takes the law seriously and to have such a well-known professor make such a huge mistake, it's sort of embarrassing. >> i get from what you are saying you don't think he didn't know the right answer, he is either being sloppy and

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