whose steel are we using? china's steel? korean steel or american steel? we figured that out? i'm not for any infrastructure project anywhere to fix any bridge unless it's done with american workers and american steel. let me tell you in the first two months of 2014, the united states imported over 6 million net tons of steel. gosh, that's a lot of shipping, isn't it? that maersk a 24% increase over the first two months of 2013. korea and china are basically cheating u.s. steel producers. workers, producers, plants. china is producing loads of cheap steel that's unfinished. china then sells the steel to south korea. korea, in turn, produces steel tubes that is in the oil and gas industry now. south korea then turns around and dumps these products on the united states' market. see ya, job workers! overall, 78% of import growth over the past decade has come from south korea and china. this is causing major losses for middle-class families in the steel industry in this country. and we basically sit by idle and want to do another deal. in 2012, the united states steel industry had

and the finished face that attaches the structural steel and the level of machining that goes on. the cast nodes being delivered to the factory and structural steel plant in or egon and actually on its side test the connections layout the connections between the cast nodes and the structural steel basket column pipes to make sure each section fits correctly take it apart bring it down here and start erection so this is a diagram of the setup being put in place right now and we'll probably witness some of those layouts late may middle of june time frame. >> those are just dummy columns. >> those are the actual columns these are your basket columns surrounding the entire structure laid on their side so the top piece the park level and the middle structural steel member that connects the various pipe columns is your buff deck level and the high end where the folks are is shown on the, man lifts scissor lifts starts at the ground level and we'll go up to see those and bring up life photos instead of the diagram but they are creating this on the colombia river across the river so we're

steel usually follows iron ore prices. steel is down roughly 15%.as a lot more to do. >> i got to go with gordon on this one. listen, guy makes some compelling points about you buy things when there's blood in the street. i just don't think there is blood in the street yet. if that spread compresses there's going to be a problem. i'm with gordon that china is having some serious problems. >> and before i pile on -- >> go ahead. pile on. >> you made a great call last summer in the stock when it was down at out at the lows. i give you a lot of credit for that. but gordon's call is like what i was saying about wynn. it is leveraged with the china trade. >> your bromance is over with guy! >> we'll work on it. this thing is a massive head and shoulders top. 24 as the neck line. you do not want to be long and below that. >> tweet us who won. bull for guy, #bear for gordon. we'll have the results at the end of the show. >>> still ahead, caterpillar was the biggest drag on the dow falling 4% in today's trade. we break down the options action behind that mov

. >> we came upon this inmate, michael steele, who was sitting outside his cell with his items packed up. he was convince head was going home that day. it was a problem for the prison because nobody could dissuade him from this notion. >> what's going on today? >> i'm leaving prison. >> is it time for you to leave? >> prison time expired. >> so what are you doing sitting here waiting for what? >> release. >> how long have you been waiting here? >> probably 14 weeks. >> in reality, michael steele was nowhere near his prison release date serving 110 years for murder and attempted murder. >> which one of these cells was yours? >> that is the cell. >> where did you sleep when you were here? did you sleep in one of these cells when you were here? >> the more i asked for details about him leaving, he started to shut down. it was almost as if i was breaking his belief system. the staff then started to move in and they were making it very clear to him he was going to have to comply and go back in his cell. >> michael. >> once he was surrounded by all of these staff members, everything just ki

and this was built on the site of an old steel mill. the question is can detroit learn from what pittsburgh has learned in the last 30 or 40 years? we tried to find out and here's my report. >> welcome to pittsburgh, the former island steel capital of the world. the city, known for its bridges, is today home to medical centers and high-tech industries. pittsburgh's mayor said that it would have to be flexible to survive when the steel free left town. >town. >> you can bomb a city, burn a city, flood a city or tear the heart out. as long as you invest back into the people who believe in the city, it will come back. >> the mayor said that he has talked to detroit about there. they need 2-$3 billion to clear the blight. blight. earmarked. ed 3 to $4 billion. they have never kept accepted cash, but nevertheless, it has taken 30 years to roll back when factories like this, now long abandoned, dominated the city. the stacks from the u.s. home instead now stand and employ tens of thousands of people. the city raised $300 million for this shopp

>> probably 14 weeks. >> in reality, michael steele was nowhere near his prison release date.s serving 110 years for murder and attempted murder. >> which one of these cells was yours? >> that is the cell. >> where did you sleep when you were here? did you sleep in one of these cells when you were here? >> the more i asked for details about him leaving, he started to shut down. it was almost as if i was breaking his belief system. the staff then started to move in and they were making it very clear to him he was going to have to comply and go back in his cell. >> michael. >> once he was surrounded by all of these staff members, everything just kind of fell apart for him and he broke down sobbing. >> that was tough. that was really difficult to film because he was just broken. you know. he was a sad, sad time. >> eventually prison staff had no choice but to physically carry steele back into his cell. >> here we go. come on. there we go. there we go. don't hurt yourself. one, two, three. bring him in. >> he kind of went limp and then they dragged him back in his cell, propped hi

steel, the united steel workers panel weighs in on that.ut first operation america springs failure to launch. trenders is next. ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪ the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. >>> what are folks talking about. time for trenders. social media. you can hook up with our team facebook and twitter. on the radio monday through friday, noon to 3:00 p.m. channel 127, sirius xm.

there's massive steel there's beams 50 feet long we're talking about huge steel we can't get that off the site without cranes. this shows one swing system and they require those two trees to be gone the concrete is to stop water from coming up the soil that's a mud slab there is no in structural concrete poured that's massive pumping rigs and two at once taking up the whole street yes, we're rovm them and are not those are huge trees we don't want to see mature trees in front of a church and now we want to see huge trees we want big trees but the fixing us species is not only approved if we remove those would won't be allowed to put those species back they destroy sidewalks we'll plant an approved species and by one of the tree open the east literally we can't get out of the garage there's no question so the other one interferes with building so we're taxiing taking anti 2 owe putting in 3 and all the trees in the alley so i think their paying attention to the urban forestry that's why they approved it. there was talk about stevenson it's narrow we get the cranes there we have to vw h

in pittsburgh, steel mills disappeared, causing the steel city to rust. that's where we are this morning. good morning. >> good morning. today we're making the city of pittsburgh hour star, the city and these beautiful venting stacks behind me that represent the cities past and present. the question is can detroit learn from pittsburgh about what they've done over the last 30 or 40 years. i've been trying to find out. take a look. >> racing out of the fort pitt tunnel, a city is home for high tech industries. the mayor said it had to be flexible to survive when the steel industry left town. >> you can bomb a city, you can burn a city. you can flood a city, or you can tear the economic heart of a city out. as long as you invest back into the people who believe in that city, the city will come back. >> the mayor has talked with detroit about recovery there. motor city needs two to $3 billion to clear blight. it's ear marked just $400 million. unlike detroit, pittsburgh never accepted federal government cash but nevertheless has taken 30 years since giant fa

steel's game plan for competing with chinese-state owned competitors, and confidential production and cost figures from solar world of portland, oregon. inside information the company says gave the chinese a leg up in a highly competitive industry. >> we had many, many companies close, shut down operations or pull out of the business and lots of americans lots jobs. >> reporter: the chinese foreign ministry called the charges utterly ridiculous, a pure fabrication and says it never steals commercial secrets through cybertheft, but computer experts say china is unlikely to stop. >> part of the reason it's a hard habit to kick, it's incredibly successful. takes one fishing e-mail with a suspect link in it, one person in the company clicks on the link and it gives the attacker the foot hole to get into the network, take what they need. >> reporter: they conceit here it's unlikely the five men charged today will ever see the inside of a u.s. courtroom but it's a way to let the chinese know the u.s. is watching more closely than ever. >> pete williams joining us tonig tonight. pete, thanks

steel, solar world, allegheny technologies and the united steel workers union. at a press event. u.s. attorney general eric holder says international success should not be based on a government's ability to buy and steal secrets and violators will be prosecuted. >> this administration will not tolerate actions by any nation that speaks to illegally sabotage american companies and undermine the integrity of fair competition in the operation of the free market. >> in response coin grounds the charges, calming them absurd and adds they will only harm china-u.s. operations. scott, this all sounds great. but these guys are in china. >> yes, they are. >> they will come here and subject themselves to the u.s. legal process. so what itself the.tof the indictment? >> the point is the largely symbolic, but it's more than that, because they've laid out what the u.s. knows now. they've basically put the chinese on notice, that's what you are telling us. while it could send the chinese further underground the idea is to basically call them out, say, here's what we got. we know what you are do

my father worked for bethlehem steel and this is a historic area. aside from the responsibility we all have to make this a profitable lucrative area, to maintain the historic area is really important. bethlehem steel put me through college, they took care of my family and i'm really excited we're going to take care of this area. thank you for all your votes. >> is there any further public comment? seeing none, commissioners? >> thank you and i thank you phil and onathan and byon for all your hard work. i want to say we've made a lot of progress which is represented in this presentation so thank you very much. i did have a couple questions just to make sure i had all the questions right. question no. 1 is we do have return of port equity, which is great, and you do mention the rate of return. has that rate of return been agreed upon at this point? >> commissioner, that's a good question. i'm sorry i failed to mention that. the rate of return is capped at 7 percent for the port but it's based on -- jonathan can probably answer this better than i can,

japan's biggest steel manufacturing nippon steel and sumitomo metal posted a group operating profit of $2.9 billion. that's more than an eight-fold jump compared with the combined profits of nippon steel and sumitomo metal before they merged in october 2012. another steelmaker, jfe holdings, showed a profit of $1.5 billion. that's 3.8 times the amount in the previous year. and kobe steel earned $1.1 billion, a tenfold rise. >>> but a leading barometer for the japanese economy is down for a second straight month. now, this is mainly due to expectation among smaller businesses that their sales will slow down following a recent consumption tax hike. now officials at the cabinet office say the leading index stood at 106.5 in march, down 2.2 points from the previous month. the sales outlook for smaller firms in the auto and electric appliance industries has gotten worse. they expect a drop in demand after a higher sales tax came in to effect in april. a new job offer at wholesalers, retailers, hotels and restaurants, climbed, as well. but the coincident index that represents current busines

the bridge is supported by a steel structure encased in reinforcing layers of concrete. the fire radiates intense heat, the concrete begins to break down and melt. >> it was splattering kind of like a grease fire. actually concrete breaking loose and liquefying at a boiling point which is also dangerous in that area. >> then you just had the steel beams exposed. the unexposed steel beams on the bottom side of the bridge were actually taking the majority, taking the brunt of the heat. >> and firefighters are aware that the steel beams holding up the bridge can't take this kind of punishment for long. >> knowing that gasoline burns at about 817 degrees and the steel support would resist up to 1,000 degrees we did expect it to collapse at some point in time. >> but the question remains, what exactly will happen when the bridge comes down? >> the gasoline tanker is very unstable, because we didn't know how it was going to react. >> firefighters continue to pour water on the inferno in a vain attempt to get the flames under control. but after 40 minutes of relentless heat, th

can you see the high strength post tension steel cables.he frames get rid of the energy by rock and deforming. civil engineer david marr owns a company, that build the orinda, california if city hall. you can see how the rocking frames are built into the are foundation. >> these cables are the spring and at the base are the steel angle is that shosh the energy. they work together creating the dynamic system of the building. >> how safe is this building? >> meant to be 25, this 30% stronger than an ordinary building. >> safer than your own house? >> yes, absolutely. >> so the future looks bright and safe in earthquake country. if they can build a safe bridge in the middle of two faults, the safe. >> do you see a day when all new buildings and structures would implement some of this new technology? >> we hope. you would think in cities when a big earthquake comes it would be an inconvenience, rather than a disaster and this rock frame is part of the technology. >> very interesting. what about a place like bolivia where you come from and there

david shuster has the story of how fading for tunes of america's steel industry has decimated a smallmunity 35 miles east of pittsburgh. >> reporter: >> this gate here when i got hired in the mill, they told me this is where i was going to go to work. i was excited. i was a young kids. i had a little brown bag my mother fixed for me. he was born and raised in rearden, west virginia, a young 7 these years old he started working at the town's steel mill day? >> hundreds of guys going in and out. the smoke and the speed, the sign, there was just paint on that sign. it was bright and white. >> once one of the world's largest steel producers with nearly 14,000 employees, it was part of a flourishing industrial sector in the post world war ii era that brought economic security to families nationwide. as factories and plants thrived, so did the middle class. ♪ >> productivity grew. babies boomed, standards of living rose, and a new generation of homeowners created the modern american dream. >> they are productivity jobs and enabled people to have upward social mobility for them and their kid

the cross of steel beams that became a powerful symbol of the rescue effort. moving exhibits at the 911 museum in new york, now open after years of development on the site of the world trade center. >> the museum is a place where you can come to understand 9/11, the lives of those who were killed, and the lives of those who rushed here to help. it will help ensure that all future generations know what happened on that day and why it happened. >> the exhibits are poignant, sometimes harrowing. tissue dispensers are dotted throughout the museum for those overcome with emotion. visitors can listen to telephone messages left by victims after the attack and to cockpit recordings from the hijacked planes. improvised, now permanent memorials set up after the tragedy. the remains of still unidentified bodies have been placed behind a wall at the museum, a decision that some are unhappy with, saying that victims should not be laid to rest at a tourist site. efforts to that identify the remains have not ended. >> it is not a cemetery. this is a repository so the medical

steel and other companies were involved in disputes to reduce dumping by china's state-owned steel companies. rick -- mechanisms. the extent also made them targets. the hackers stole internal trade attorney/client communication, and cost and production analysis. the conspiracy by chinese hackers targeted each of these suchies at critical times as in the midst of negotiations to build a nuclear power plant in the middle of a trade case. of espionage are far-reaching. the victim companies use -- lose their capital investment in research and technology. the important message is that cyber it left impacts real people in real and painful ways. the lifeblood of any organization is the people who work, strife, and sweat for it. intrusion occurs, production slows. parent close. workers get laid off and lose their homes. towns inens in steel western pennsylvania. other similarmany towns and cities in the united states. this 21st century burglary has to stop. we would not stand -- we will not stand idly by if someone pulled a tractor trailer to a headquarters, cracked the l ock, and loaded up informat

steel, david horn, an executive about this at a.k. steel in southwest ohio. china not only lost a t.w.a. challenge but now appears to not comply with the ruling. the continued imposition of these duties even after w.t.o. ruled against it has caused significant harm to companies like a.k. steel that i mentioned based in westchester, ohio. the issue of retaliation figured prominently this the cyber espionage cases. several american companies and the steel workers union were targeted -- that were targeted were taking place in trade chase cases to challenge china's trade practices. they try to intimidate government from holding them. living up to their trade obligations promoting the rule of law in china, not only benefits american companies and american workers, american local communities, it also benefits the chinese people that are already example every chinese companies willing to play by the rules. i applaud the announce a chinese producer of auto safety glass has finalized its agreement to buy the former general motors plant in lorain, ohio. it's an example

they manufacture things like steel. they could be working towards our disinterest in terms of our security. they could be supplying the u.s. military with things that could hurt us. >> you could make that argument. again, you're crossing that line into steeling trade secrets. why do they need to monitor them to see what our military activity is? more than likely what's happening is they're monitoring them because china's going through their own industrial revolution. they don't know how a lot of the things we've perfected over a hundred years works. it's easy to poke around on our servers and say, okay, that's the formula to make stronger steel or that's how you make a bulletproof side of a tank or what have you. this is where the internet of things becomes a very scary reality. we talked about extraditing people. but what we have in the case of the internet is this world wide web, you know, to use that term in a different way. but we have people all over the world with web access who can be in any countries, anywhere i

steel, and as i mentioned, the steel workers. the union. according to reports, the individuals in the indictment are accused of stealing trade secrets to benefit chinese industry which is heavily sponsored by the chinese government. this is just the latest example of the unlevel playing field that our domestic firms are subjected to. just to give you an example, in pennsylvania, like many areas around the united states, pennsylvanians are experiencing an energy revenue displawns, principally natural gas. for the steel industry it means the opportunity to sell a lot of pipe to natural gas drilling sites. our foreign competitors also see this opportunity and have responded by aggressively pursuing our market. this competition is expected and would be okay if -- if -- it was fair. and, of course, in this instance, it is not. enact our domestic steel industry is facing a new crisis. after successfully beating back unfair competition from the chinese, our domestic producers are facing a surge of imports from around the globe. according to a rece

steel? >> we have different options -- >> they did make an offer?nd strong interest from all interested players. >> may do an offer and how much. clearly, they have offered you enough yet. >> well, it is a process. we are quite optimistic about interests, which we see. but we will see. a good possibility and good opportunities and options. >> i know you were weighing your options with the steel plants before this geopolitical crisis developed. nonetheless, resumable or something that you have to pay attention to it -- presumably something he that you have to pay attention to. russia is the big bogeyman and you are an oligarch, a russian billionaire. a few years back you apply for government loads for your plant to provide lightweight steel and you do not get the loans. how much does politics figure into the equation of whether you sell these assets -- these plants? >> not at all. >> graphically comfortable doing business in the united states? >> absolutely. toon't feel any inquiries us from any authorities in the united states, in the united states

steel, the chinese styes learned to manufacture the steel more cheaply, and u.s. steel saw profits plunge and they cost production and lay off workers. >> these victims are tired. >> reporter: in an interview with abc news, the director of the fbi says it's a threat. >> there are two corporations in the u.s. those who have been hack bid the cheese nose and those who don't know they have been hacked by the chinese. the amount is staggering. >> reporter: he pointed to a different case today. even american homes are at risk to hackers. 100 people arrested in 18 countries arrested with software called blackshades, spy on personal computer, able to spy on them with web cams. miss teen usa was a victim. her private nude photos stolen. >> some people think, why build when i can take? it's faster to build something you have built yourself. it does damage for our country to try to development good ideas. >> reporter: the chinese says the charges are bogus. the fbi director told me, he has evidence they did it. if they ever leave china, they better be look, over their shoul

steel. prosecutors allege the suspects are part of a military unit that uses e-mails to install malware on the company's computers. officials say the u.s. economy is the victim. >> cybertheft impacts real people in real and painful ways. the lifeblood of any organization is the people who work, strive and sweat for it. when these cyberintrusions occur, production slows. plants close, workers get laid off and lose their homes. >> china's rejecting the allegations and accusing the u.s. of spying. the country's also pulling out of an agreement for the two to hold talks on cybersecurity. china has summoned u.s. ambassador max baucus demanding he have these charges eliminated. >>> to nba news now. it is officially moving forward with its plans to strip donald sterling of his ownership of the clippers. sterling has been charged with conduct that has damaged and continues to damage the nba including hurting the league's relationship with its fans and advertisers. the disgraced owner has until may 2

. >> the load became unhinged and like a scene out of the movie, the steel beams come rushing toward the guy and his passenger. >> if you're transporting steel beams, don't you have a backup system, like if one hinge goes three more holding these steel beams. >> that shouldn't happen. >> this guy and his passenger were not hurt. didn't fall on them or anything. >> but i bet their life flashed before their eyes if that moment. that was very scary. >> meanwhile, onn romania, there's a police officer. he's on his bike and a bike kind of rolls over on his side. the officer didn't have it set so all these people on bicycles come, get off their bikes and come over and help the motorcycle cop out. >> that guy has not been properly trained. there's a method to pick up a heavy bike like that. he'll never lift that bike. >> and never have any respect. embarrassing for him as a police officer. >> think about it, how embarrassing is a guy in a motorcycle that the guys on the bicycle have to help him out. we can jump off no problem. >> that guy has to go back into training. >> it's all cheers for

what will they make of this huge steel but.european workers are told never to venture out to learn. truths and myths oh no it's a. well told you my language as well but i will only react to situations i have read the reports. like the push to the no i will leave them to state park to comment on your latter point someone to say to secure a car is on the docket now if i. think you know more weasel words. when you made a direct question be prepared for a change when you have to punch be ready for a battle freedom of speech and a little down to freedom to cross. dramas that trying to be ignored to the. stories of others refused to notice the. faces change the world lights never. see. the full picture of today's events. on to and from around the globe. up to. fifty. welcome back now supply demand investment taxes exports imports. we all think that we now know what else something about economics but our views based in social and economic theory that's the question now my next guest makes it his mission to help to bunk some popularly

on the bus deck we currently have custom made steel on the perimeter of the bus deck and the cost of that is approximately $5.5 million and by utilizing the concrete barrier we would reduce the savings but $2.6 million and we've identified other cost reduction saves and bringing the total to $52.8 million. >> we currently have $210 million contingencies in reserves this mitigation plan would increase the design contingency and reduce and would reduce the program reserves to $115 million for a total contingency of 128.$3 million. the remainder of the contingency balance -- >> on that last slide to me is the most important slide of the whole thing it's where the bulk of our mitigation is happening and i'm not exactly clear on both how contingencies differ from reserves and what -- if you could give some examples of you know what a construction contingency is supposed to satisfy what are some of the events and what were the reserves supposed to do it would help me understand why certain amounts went further than others and certain amounts went in one direction versus the others if you c

steel, westinghouse, and alcoa. they make steel.do the chinese not know about making steel that americans know? are they hacking more companies? >> oh, they are hacking many more companies. last year there was a report that came out with a lot of the same tactics that they were saying the chinese had broken into. over 100 u.s. companies over the last year. even though you think of u.s. steel and westinghouse, these companies have sophisticated technology, nuclear power, and stuff. >> is it meant to give them an advantage over american companies, or is there something more sinister? >> well, i think there are potential military applications, but there's definitely on economic impact of it. learning the things that american manufacturers know can help chinese companies build better products. >> draw me a picture. we know what old-fashioned spying is like from the movies. what does this involve? is this getting into their actual systems that they use for -- for manufacturer, or product development. >> yeah, so they typically get in thr

steel workers in the city of donetske in the region of ukraine have retain government buildings.y's wealthiest man has urged workers to are retain the region. after procedures separatists declared independence in donetske and luhansk. >>> president obama has invited india's prime minister-elect to the u.s. narendra modi, leader of the opposition hindu nationalist party, he had been denied a u.s. visa for his role in riots in the past where hundreds of muslims were killed. >>> one of india's leading diplomats is in the united states right now and he joins us, ambassador dianeshwa moray, joins us, ambassador, welcome. >> thank you. >> what do you think of the results? >> it is a truly and in many ways unprecedented election both in scope as in mandate, that's number 1. and number 2, i would say to improve upon what new york times said today, that this is an i would say it's an aspiration of generation. that has aspirational india that has voted in this election. narendra has thrown a very, very clear mandate to go forward, both in scope, mandate and outcome. it's been an unpreceden

michael steele a michael steele next, but first josh has the market wrap. >> here is a look at how theand going into tomorrow. the dow and s&p 500 both moving to record finishes. that is as tech shares surge and m and a activity helped put bulls in charge. dow gained 112, s&p 18, and nasdaq 71. that's it from cnbc, first in business worldwide. >>> do you think you're ready to be president? >> i do. but i think that's true for multiple other people that would want to run. i think the president has to have a clear vision of where the country needs to know and clear ideas about how to get it there and think we're blessed in our party to have a number of people that fit that criteria. >> #blessed. to hear marco rubio tell it, he's delighted to have a slew of republican rivals with eyes on the white house in 2016. but that does that mean the florida senator is not sweating it out. take for example the issue of climate change. which is really no big deal since it simply doesn't exist. >> i do not believe that human activity is causing these dramatic it changes to our climate the way these sc

first comcast time warner and now the steel. deal between this at&t and directv is a direct response between the proposed comcast time warner merger. randall stephenson saw the competition getting bigger, effectively moving quickly to do just the same thing. -- would with night unite the nation's biggest satellite-tv provider with the second-biggest broadband provider and second-biggest wireless company. with this deal at&t could combine satellite service and existing packages of wireless phone and high-speed internet service, that is the upside for them. they will also get access to directv content as well as the ticket. the combined company would have more leverage in future content deals going forward. thiser big reason for deal, at&t gives access to the cash flow. 38 million video subscribers and a footprint in latin america. investors are not completely sold on this transaction based on the shares of both companies, down on the day so far. some analysts are wondering why at&t would spend this kind of money. more people are

in baltimore city unemployed steel workers will be employed. we are getting things stolen left and right and need your help. >> mr. norman? >> top that for clarity by the way. >> i'll try to add clarity myself. the issue is enormous. i can speak on behalf of form pharmaceutical firms that spend billions every year doing research and development. as we move forward and try to develop new lifesaving medicines, we continually build kmem cal platforms and pharmaceutical platforms in hopes of reaching a site where we can apply for patents. what we're seeing are numerous instances where interlopers are stepping in and trying to steal our trade secrets on our formula prior to the time we can reduce those into a patent application. very often may take two or three or perhaps longer -- two or three or longer years to do enough research to get to the single molecule that we'll be able to carry on into clinical trials. if we lose the trade secrets, and all of that formula, prior to the time we can reduce that to a patent application, the loss is ir revoka

welcome to pittsburgh, the former iron and steele capital.s a center for financial services companies, medical centers and high-tech industries. pittsburgh's mayor it said had to be flexible to survive when the steel industry left the up to. >> you can bomb, tear, burn a city or tear its economic heart out. as long as you invest in the people, it will come back. the mayor talked with detroit about recovery. >> reporter: motor city needs $2-3 billion to clear blight, earmarking $400 million. unlike detroit pittsburgh never anticipated federal government cash. it took 30 years to come back from when giant factories like this dominated the city. only the old stacks from the u.s. steel homestead work stand in honour of a once-great industry that employed tens of thousands. the city raised $300,000 to develop the mall which is on the site, carrying all the names. how has pittsburgh raised the cash. >> jeremy walled rop says $5.5 bill won came in in the past eight years. >> we have seek a real influx of funds and it started with the local companies

steel, the chinese spies learned to manufacture steel more cheaply causing world steel prices to plungeeel saw its profits plunge and was forced to cut production and layoff workers. >> there's only two kinds of corporations, big corporations in america, those who have been hacked by the chinese or those that don't know they have been hacked by the chinese. the amount of theft going on is staggering. >> reporter: the fbi director pointed to a different case. this one showing even american homes are at risk to hackers. 100 people in 18 countries arrested for developing a malicious software called blackshades allowing them to take control of people's personal computers and spying on them through their web cameras. miss teen usa cassidy wolf was a victim, her private nude photos stolen. >> it is story as old as humanity. i suppose. some people think why build when i can take. it is faster to take what you built than to build it myself. it is not fair and does great damage to our country's incentives for our people to try to develop good ideas. >> reporter: the chinese government calls the

now they may turn around and feel that chairman steele's points are valid.nd having someone at least five members, on the committee to be at least able to rebut what's happening in realtime. but they've felt that a lot of this has been investigated. there's been many committees that have looked into it. many documents have been produc produced. and they're fully aware of what materials have been used. >> and chairman steele, there are questions not just for democrats but also for republicans in all of this. >> sure. >> we know there are some republicans like the speaker who are sort of telling the country that this is a serious investigation. trey gowdy seems to be saying says that versserious investiga. and there are others who think it's a very convenient way to raise money. just this afternoon, trey gowdy doubled down on comments he made earlier this morning. saying the country should not profit off of it, there are four dead americans. do you think there are people they would like to corral who would like to make money off of it? >> i thought congressman