how did michael steinberg react? waiting for the verdict the last time around, he did faint. he was, obviously, traumatized by this. how did he react today? >> he was stoic today. i think he was preparedd i don't think he expected he was going to get somewhere less than two years, he obviously was scared he was going to get six and a half. liz: steinberg's lawyer claimed he had no knowledge of any inside information, but this is a pretty corrupt organization. the organization itself has pled guilty and paid a multibillion dollar, 1.8 billion in settlements. what happens next? >> well, i think as i suspected the judge sentenced this guy commensurate with his involvement. and given that they can only account for $350,000 -- which, actually, the guidelines take into account when you go to figure out his guideline range -- the bottom line is this: we have mar toe mow who's going to be sentenced, and i think it's going to be very stiff -- liz: wait, hold on. mathew martoma, another former employee at sac capital. he's bee

but with fears of a potential sale steinberg and fellow tenants worry that the affordable housing that has allowed them to live here for decades will be wiped out. >> we're fighting for everyone who lives here. >> reporter: steinberg, who is 67, and retired pays a little more than $1,300 in monthly rent, about half the cost of market rate. regulated rents by the city are the hallmark of stuyvesant town built in 1947 for world war ii veterans developed by metlife with the city's help. owners have changed hands over the years, deregulating rents for some of the tenants and deregulating more rents will be the priority for new owners. >> it's a certain. how quickly they can do so. >> reporter: in 1986 this complex sold for $5.4 billion. but the buyers eventually ran out of money, and lenders took control. >> they thought they could raise rents more quickly than most people have ever done. >> reporter: the developers and blac black rock in that deal that field. capital is now in control of the complex. in the meantime bloomberg reports fo fortress investment group is preparing a bid. one ur

guys, back to you. >> josh, it's jon steinberg.ow from when in 1999 microsoft, i remember, launched a retail store in san francisco, is that they have hardware now? has the world changed? there's more ecommerce now, so why would this work now? >> reporter: i think certainly you've seen new products, right? so satya nadella has put the strategy forward. microsoft saying they want to be a player in consumer devices, they want to take on apple and google. he has products to show, phones, tablets. talking to some of the kids on this line, they weren't just talking about macklemore. some were coming in to buy phones, buy tablets. there's products he wants to show. and you go that that store, jon, it's a very sleek, cool, minimal look. that's part of it, too. they want their customers to have that experience in these stores, guys. >> josh, we appreciate that. between what's going on there retail-wise, jon, and what angela is about to do at apple, that will get interesting from a retail stand of point. >> and at the end of the year, too,

senate president pro tem darryl steinberg says he wants to expand programs that favor treatment over punishment. he's behind a package of proposals that calls for law enforcement officials to undergo improved training and how to safely deal with people who are mentally ill, homeless, or addicts. steinberg says tragedies like last week's mass shooting can instruct lawmakers on how to move forward with such reform policies. >>> during next tuesday's primary election in california, voters will choose which two candidates will face-off in november in the race for governor. governor brown is expected to easily win the top spot in the primary. the battle is for the spot on the november ballot opposing brown. two republican candidates are in the lead. assemblyman tim donnelly and former treasury official. recent polls show 42% of republican voters are still undecided. >> all the polls have come out recently showing a lead for assemblyman donnelley still, but a huge number of undecided this late in the election is pretty surprising. >> a new poll from the hoover institution shows 36% of peop

and is that you have a real counter deterrents. >> that's an interesting point about darrell steinberg. we heard from him about the opening part of his proposal this week is to expand spending on training of law enforcement officers. that's partly in recognition of the fact that they çÑc$u$e first responders and increasingly people with mental illness are in prison and jail and in contact with the criminal justice system but it raises a very interesting question about, you know, if a police officer comes to your door, you know, are you going to open up about concerns you have about your mental health? probably not. as a society, we kind of learned to fear law enforcement. so i think, you know, some of the people who are opposed to some of the spending are arguing, let's reinvest that money so a social worker shows up at the your door. >> well, it may be worse than th that, by the way. there may be millions of people willing to tell the police automatic their troubles but i don't think those are the most dangerous people in society. when you're planning to become a mass murderer, you're

michael steinberg is headed to three and half years of prison for insider trading. less of what the prosecution needs. the law professor, i will start with you, elizabeth. three and half years i think is too light. what do you say? >> i agree with you, that is outstanding. it will serve one and change. that is not much of a deterrent for anybody who made it millions and millions of dollars. >> he didn't make millions and millions. >> he made a relatively small amount. he probably could have stuck around even longer. >> you have to go by the facts and circumstances of this case. this is why the weakest they h had. michael steinberg did not go out and pay people to give him stuff, there was no benefit. this is an incredibly weak case. the money was not that high, he will spend three and a half years, but the bottom line is this, when you have stuff this week. i didn't think they proved him guilty beyond a shadow of a doubt. when he got the information was passed through so many, it is hard to tell how the misappropriation or kurd. >> does this send a message insider-t

but again, michael steinberg, the eighth s.a.c.ted in this case, only the second to go to trial, sentenced to three and a half years in prison. the other to go to trial, matthew martoma, is to be sentenced next month. >> all right, thank you very much. we were talking about banking with mike santoli, murph. >> i agree with you, mike, but from a trading standpoint, like a bank of america down 20% off recent highs, jpmorgan, roughly 15%. i think at some point, the things, as leon cooperman said, look past the near term, and i'm looking -- i see bank of america down printing 1..3.90, i'm buyig it. the s&p is hitting new highs without the banks. >> that is the -- that's the glass half full, right? you would expect the market to have had more damage, and maybe we got so lucky here with this immaculate rotation, as i call it, that all of the stuff you would like to see perform hasn't performed, and yet the overall market has held up. and soros and cooperman can both be right. cooperman, a value investor, say they do actually represent va

but with fears of a potential sale, steinberg and others worry that the affordable housing that has allowed them to live here for decades will be wiped out. >> we are fighting for everybody who has affordable housing in new york city. >> steinberg payed 1300 in monthly rent. the hallmark which opened in 1947 for world war ii veterans. it was deviled by metlife with the city's help. owners have changed hands over the years, deregulating rent for some units, and analysts say deregulating even more rents will be a priority. >> i think it's a certainty. it's just a question of how quickly they can do so. >> reporter: back during the real estate boon, the buyers ran out of money and the lenders took control. the developers partnered in that deal that failed. the investment firm is now in control of the apartment. it did not respond to a question to comment on the first step of a potential sell. in the meantime reports fortress investment group is preparing a bid of 4.7. billion dollars. one urban development expert said stakes are high for peter cooper village. >> it would be catastrophic. i don

at the state level the cap and trade proposal realized imply permanently steinberg that take into consideration talks about an expenditure program and the governor provided a picture with the new proposal from the senate permanently includes direct funding to transit by 25 percent 20 percent for affordable housing and 20 percent for high speed rail so we see the right components in the bill and hope we'll come together to provide stability and certainty for the community going forward throughout the state. we have been coordinating with the mayor's office and the sfmta and others agencies as well as the sales force agencies known as the self-help coalition we had visits from sacramento this month to discuss our hopes and advocacy around cap and trade other statewide efforts we met with senator leno and others as well as staff from the pro tems office as well as support for our priority likes high speed rail and transit and other needs as affordable housing. we talked about pedestrian safety and vision zero they very much support our efforts they're an effort to help to explore awkward tucks and

and lee steinberg, author of "the agent." and a.c. green, good to see you all.me ask you, lee, if you were a -- i don't know working with damage control, olivia pope type person and you wanted to get out in front of this, do some damage control. you could call a press conference for donald sterling or you could leak a tape where he is really not a racist. what do you make of this tape? >> that the cow or horse has already left the barn. had he done something initially when all of this broke on that saturday he might have had a chance of combatting public opinion. but the tsunami wave that has made him the largest villain in sports i can recall since michael vick, lance armstrong, is too strong. and the dye has already been cast. they're on the way to having a hearing and then voting to take the team away. and those attorneys who argue that she -- the wife somehow can own the team as part of a trust, this is not a private business. it was granted to donald sterling. he was the one who has accepted. he was the one who was thrown out. she may have rights if she fil

steinberg was just saying what a beautiful job the engineers did on that interface. if you're a company and doesn't work on mobile or it doesn't work on mobile, that's a big problem. they have it working perfectly on the ipad. kudos to them. >> speaking of the ipad, 606.74, the highest of the year. cramer said this is the breakout he's been waiting for. we'll see how long it lasts. ios 8. they are hinting to new products and everybody will see if there's anything in screen resolution that might put truth to rumors behind the iphone 6. >> we think nothing is going to be launched at wwc? >> hard we are? we think not. basically a hardware store. >>> and we countdown to the european close in a minute. >> it's the european countries moving for individual regions, and ireland and ryan air boosting that stock market in the other direction. italy is fascinating. we were down the% the beginning of trade and more than 3% and we have cut those loss in italy as the banks came back. and the yields moving in the opposite direction. yields are rising as the bond market sells off. t

the state budget is up in the air, the governor put out his revise, and senator steinberg will have a meeting of impacts that can affect the transit. and our measures that we hope head to the ballot on november. altogether will impact what we are looking at as we look forward with regard to the physical health of the agency. what the mta board did is take some things that we are seeking to do and make them subject to review of the agency's finances in 2015, when we will have a better handle on all of those things they mentioned. what is in that bucket is expansion of the free muni program to seniors with disabilities and of low and moderate income. further increase of the transit service recommended by the tdp. and funds to clean the vehicles and keep them in good shape. and some fees that we currently charge for certain sorts of transactions. in accepting and adopting this approach, my board did explicitly take action to specify that the expansion of the free muni program will be the top priority. if not able to fund all. and directing staff to work now to get the wheels moving to im

who better to talk to than real life "jerry maguire," leigh steinberg. he is joining me.piles of money" coming right up. ♪ when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. dierdre: markets coming off their highs right now of the dow still trying to finish at a record close. let's go right to nicole petallides on the floor of the new york stock exchange with more. why are we seeing a little bit of pullback here? >> it is not unusual to see that we would have this back and forth action. of course we heard from our fed head earlier today. once again in her second day of testimony janet yellen really providing an outlook for a ver

also, lee steinberg. i have to begin with you, gloria, acquiring minds want to know.n't you representing this woman? >> i have no comment on that. and she does have an attorney. >> uh-huh, are you surprised there is not an investigation under way by the los angeles district attorney's office about the context in which the recordings took place? >> not necessarily, michael. for this reason. we really don't know what all of the facts are. i have seen reports, for example, that say that she was his archivist, that she, in other words, was recording him with his knowledge, with his consent. i have seen other reports that say that someone else was there who heard it. and so the real question is, did she do anything illegal? of course in california it is a two-party state. both parties to the recording must consent to the recording with limited exceptions. so essentially, her position is that he had knowledge of it. that she didn't do anything illegal. and of course reports also say she denies having released it to the press. >> there is a new poll out from "the new york ti

that was to raise an eye from steinberg. i did not. lots of speculation, including, i've seen this on dredge. i don't see it anywhere else in a report that she discovered the guy before her, what was that guy's name? >> bill keller. her pension benefits were slower than a lot of her pred secessop. t"the new york times," i think it's triquarterly they do their compensation guilti iguilting c >> there's journalist aenvy. anybody making over $250,000 basically. here it is. >> right no house the head person didn't make enough money and she's mad. i don't know anything about it. >> i'm sure that's part of the story. >> how are you sure? >> if there was a compensation dispute? >> there's a lot of -- she shouldn't want that much money. that's his point. this is "the new york times." this is a vocation. >> did you see when "time" magazine executive compensation plans came outing with 9 million, 8 million. >>> they're mad at -- >> chipotle. they have two ceos at chipotle. if you add both of them it's even more money. >> co-krer is the worst cor

but with fears of a potential sale, steinberg and fellow tenants worry the affordable housing that'sre for decades will be wiped out. >> we are fighting for everybody who lives here we are fighting for for everybody. >> deregulating more rents will be a prior to for any owner? >> it's a question of how quickly they can do so. >> in 2006, during the real estate boon, this complex sold for a record $54,000,000,000. but the buyers eventually ran out of money and lendsors took control. >> they thought they could raise rents by turning unit to market rate much mover quickly than most people have ever done. >> developer tishman spire and private firm blackrockperd in the deal that failed. a commercial real estate investment firm is in control. it did not respond to a request for comment on a move it made that is seen as a first step in a potential sale. meantime, bloomberg reports private equity firm fortress investment group is preparing a bid worth $47,000,000,000. one urban development expert said, stakes are high for new york city if stuveson town and peter cooper village lose affordab

senate president pro tem darrell steinberg introduced a measure today in response to three senate democrats facing criminal charges. leland yee, ron calderon and roderick wright were all able to collect salaries while suspended. the constitutional amendment would not affect them but if it's approved it would allow lawmakers to take away colleagues' pay with a simple majority vote. >>> students picking their prom dates nfl draft style. the long-time tradition exposed at a california high school. >> i thought it was a joke at first. >> racking up tickets for someone else's mistakes? a carouseller's nightmare -- a car seller's nightmare but the simple oversight that could hurt your credit. ,,,,,,,, [doorbell rings] hey. hey. what's this? it's u-verse live tv. with at&t u-verse... you can watch live tv from your device. hey. hey. anywhere in your home. [doorbell rings] hey. hey. so you won't miss a minute of the game. call now to get a u-verse bundle for the same great price for 2 years. guaranteed. quarterback colin kaepernic the two call >>> we have newly released 911 tapes from the miami pol

these expert peter steinberg are from the german institute for international security affairs joins us now in the studio for more about iraq. welcome to use the program first of all the selections taking place is murdered. it's a backdrop of severe violence you know can you truly be called a free and fair election in iraq. but she theoretically these on the free elections because those photos can cost that by the opponents for the huge number of candidates of all different kinds of parties. but in practise large parts of the country on walked under the control of all the security forces and that would mean that especially in the westin in the north west of the country many sundays many security risks would not be able to move to cost netbooks. ditto the government of nuri al maliki is so far been able to bring peace or or even much stability to iraq so well what's really at the heart of the growing violence that's what i think that it's money keys the policies he has tried to marginalize not so nice and the parties' but also important secure the wrists at the scenes the elections in tw

. >> steinberg's proposals are based on a study by stanford law. >>> new evidence may show a woman was framed. a child says a mother attacked a child who allegedly bullied her daughter. a witness says he saw the boy choke himself. delia garcia-bratcher faces felony charges as of now. the report says police should go back and measure the bruises on the boy to determine the size of the hand that caused the marks on his neck. >>> investigators say a grass fire in vallejo may have started at a nearby homeless encampment. the three-alarm fire started at 3:30 yesterday afternoon near the interchange of 80 and 780. all the smoke made visibility very poor. chp had to close off the connector ramps for a short time. the fire was contained in an hour. no reports of injuries. >>> 4:35. let check weather. >> red flag warnings up again through the delta and the carquinez straight. the breeze of course for those fires could potentially be dangerous. outside right now, we have mostly clear skies all the way to the coastline. looks like it's going to stay that way today. should be a beautiful day. but

liz: tomorrow michael steinberg is going to have to go to court to get sentence. charlie: i feel bad for him. you'ryou are right, you're absoy right. follow the rules. listen, i just don't think it is the worst problem in the world. liz: i like that. come back soon, we miss you. charlie: i will be back monday. liz: the u.s. auto giant announced it is recalling 2.7 million new cars and trucks. fixing brake lights, power brakes, jeff flock in chicago picking through this one now i am wondering brake lights are very important but are they so nervous and gun shy they are just recalling anything? >> it is hundreds of complaints and dozens of crashes, so it is not nothing. and again another day, another recall. 2.9 million worldwide if you total them all up. 11 million recalls, the biggest one is the one you just mentioned, the one with the taillights, it is 2004, 2012 malibu and some other cars they don't make anymore. it has lead to crashes and complaints. the other one is newer cars, 2014 malibu with the on-off technology. lotta people don't like this, but the new ca

conference is held today outlining the legislation sponsored by state senate democrats including darryl steinberg and lonnie hancock. >> there will be a gun violence restraining order co-authored by nancy skinner of berkeley. if someone threatens to harm others, law enforcement can be we contacted and take away their guns and third chance to purchase more is revoked. >> two new developments in the racially charged scandal involving l.a. clippers' owner donald sterling. his wife shelly sterling is move quickly to sell the team and could name a new own are bit end of the week according to the "los angeles times" today trying to sell the team before the meeting on tuesday when they will vote whether to take control away from the family. donald sterling says he is vowing to fight the league decision to force him to sell the team. he says he has received offers of more than $2.5 billion. more on the story with katie marzullo at 5:30. the state will take on whether to allow public access at half moon bay forcing a settlement of a venture capitalist to allow access to martin's beach which has the only a

joining me now divorce attorney, famed divorce attorney, also sports agent lee steinberg author of "the agent." good to see you again. lee, let me get your reaction to this interview. did you watch the whole thing on anderson? what do you make of this guy? >> this was sort of a death rattle and i don't know who is doing public relations advice for him, but this anecdotal meandering is not how i would do an interview. some of the sbersing things that has happened to him, he's taking advantage of them and message them to put themselves in his shoes because there's all sorts of public opinion forming, not with standing the racism that to expose a tape this way, to deprive someone of something because they expressed private thoughts, maybe isn't right. but that was a message to me to other owners to think carefully before you proceed because you better not have dirty linen in your own closet. >> is this vote that the nba owners will have, i don't know when, in the soon future, is it snub will we be able to know which teams voted yea or nay on donald sterling? >> that's a critical point beca

>>> joining us this morning john steinberg, kayla tausche. guy, hope you had good long weekend. what a week it's going to be with this conference in california. >> i'm so bummed i'm not going to be there. i'll have to be remote. >> it's going to end up right here on this program, a lot of it. apple meets the jetsons, according the ft, the giant renovating a new software programs that would turn the new phone into a lights and securities and other appliances. and a broader push into home automation. according to the ft taking on a bunch of players who've already gotten start odd this mission. >> and honeywell has a wifi connected thermostat as well. so everybody is going into that layer. i think software and ease of use wlb what differentiates it. you have mobile desk top, car, home. that he has are the four battle grounds. >> the direction google is going is by buying the hardware and seeking to connect it that way. apple is apparently by a software platform. do you think our appliances need to get smarter before something like that works? >> it you would think apple goes into t

we want to bring in lee steinberg, and jerry mcguire. lee, are you with me? i see you. >> yeah. >> let me just begin with your take. you have represented some of the biggest names in all of the nfl. what's your reaction to these claims. >> my reaction is that i've been doing this since 1975. and players are in a state of denial. they want to play, so they're very dependent on what a physician would tell them, and especially what a physician would tell them to take. there have been so many situations where players get shot up to mask the pain, go out, get injured worse. when i started, the vats of these painkillers and all sorts of meds were just there for players to scoop up and take. they had no idea what was going on. and now you have players who are -- one player took 1,000 vicoden a month, because they get addicted. no one's there to help them. and they didn't really realize what the consequences were of what they were doing. >> how is it, though, just hearing ed and this one story, of someone having a broken leg for a season, and sort of just numbing the

this is a sentencing in the michael steinberg case of insider trading. was one of the traders at sac capital, incentives to 3-1/2 years in prison, they wanted two years, prosecutors wanted sex, so when two sides are unhappy, there are two expert attorneys on this. he is one of the few people who has ever action will be deposed steve cohen of sec capital. we will get his reaction. how would fred casey defends this entire operation if he had to? we will be following this closely. markets are crucial. we are looking at that and a company called border 40, a publicly traded company that is helping you and anybody else in business make sure you can get through all of the problems and issues that it takes the red tape to do business overseas. what do you think? a fascinating discussion. melissa: i could have left the studio and gone out to break to let those two go at it. thank you, we look forward to your show. google glass entering the high-fashion world of models, launching a campaign that would make eric zoolander proud. you can never have too much money.

i want to know if john steinberg wants to be in tech right now. >> i always want to be in tech. tech right now, so 100%, yes, i want to be in tech. >> you're leaving buzzfeed. >> i'll stay on as an adviser to buzzfeed, been there four years, company in spectacular shape, couldn't be more excited but i'm a guy with a lot of energy. you guys know that. a lot of things i want to do. >> do you see yourself as sort of consulting with different parts of the industry, or do you want to build something? >> i want to continue to operate. i love operating technology businesses, love my team at buzzfeed and will continue to be an adviser. a lot of people were at facebook and it's a natural progression. >> are you going to start your own? >> i'm not joining the wonderful anthony nodo. though i think he's awesome. >> it's telling what you've done at buzzfeed, and people now talk about you at buzzfeed employee number 15 the way they did with google. >> i think of all my early colleagues at buzzfeed and a lot of people started out as interns that are now running teams of 30 and 40 people, a fe

lee steinberg, the famous agent, cured me of that perspective because sterling has 1.5, $2 billion, something. if you add another 700 million on top of that to an 80-something-year-old, his life won't change. there's no other opportunity he will gain. you can only fly in one private jet at a time. you can only sit or sleep in one mansion at a time. even adding a billion dollars to his multibillion dollar fortune doesn't change him at all. what he wanted was the visibility and social capital of owning this high profile asset. not being a part of the nba and go to parties and say i'm the owner of the l.a. clippers, that's more painful for him. that's not resolved by getting a billion dollars in return. what i hope to see out of this, abby, i know you've been on this story, is that we get a black owner out of this so that some of the wealth that's created by these black players in the nba is brought back into the black community. there are three professional sports leagues, 92 teams, 1 black principal owner, i think you've heard of him, michael jordan. need to have more. >> the person i'm rootin

leonard steinberg. leonard said this is why we're charging, this is 14-story building.above 13 other floors in the penthouse. it is so quiet. four bedroom, four 1/2 bath. nine thousand is the maintenance per month. the property taxes are more than $11,000. get this, you get a private elevator and private driveway. there are a lot of amenities in the building. i will leave it here as we look over the hudson of the these are the views. and liz, you know this area very well, new jersey, right across the river. it's a beautiful view. liz: for those of who can't pay 36 million, i'm way over across the river. david: i couldn't afford the taxes. 100,000 a year in taxes. cheryl casone, thank you very much. >> unbelievable but gorgeous. >> you bet. liz: heated debate on television take as turn for the worst. two guests get so angry with each other they wreck the studio live. we have got footage of the fight. david: love this kind of video. you've been tweeting us all through the show whether stocks or real estate are a better investment. your answers coming next. ♪ ♪ tigers, bot

expert mike paul who is known as the reputation doctor, and also sports agent and attorney leigh steinberg. mike, let me begin with you. can we take sterling's apology seriously? when he ends up being very critical of magic johnson in that same interview and now fighting the nba? what do you make about all that's taken place in the last week? >> he's tripping all over himself. fredricka, good to see you and my good friend lee. how are you doing? you know, one of the things that is important for any true apology is to have three components. no ifs or buts in it. it needs to be authentic, and it needs to be respentant, and he's failing with all three areas. as a result we don't believe him. he need more than words. we need to have actions, and his history also doesn't put him in a good place for us to trust him. >> and, lee, you know, sterling has threatened to sue the nba. if they don't take back the fine, take back the ban. how does this assist him, help him, maintain his team? >> it doesn't at all. remember that when an owner buys a franchise in professional sports, they are not buying a

also with me from the agent's perspective is david meltzer, former ceo of leigh steinberg sports entertainment"connected to goodness -- manifest everything you desire in business and life." so good to have you here. it's important to know you actually went undrafted in the draft and played in the canadian football league. felt nothat you hearing your name called when those draft picks went out. >> my dream was to always have my name called and be drafted like every other player that comes out of college, but my situation was little different stop teams didn't want me to play quarterback. they wanted me to change my position than i was going to have nothing to do with that. so i chose to go to canada where they were going to give me a chance to play cornerback. so i was a free agent when i did come back to the national football league and was a -- in a much utter bargaining position. >> was it very different way in the canadian league question are >> no question about it. it was a whole different game and different style of football. wider field, longer field, but i adjusted it had a great time