going on have got that with steve cohen and that is fascinating.nd you broke that story from bloomberg news, he has not been having a great period in terms of returns. dichotomy of steve cohen seemingly involved in the new monitor -- money management venture, at the same time, it looks like he is seeing some outflows. yes, his investors asked to pull more than $1 billion. this year, he is down about 2.8% in the first quarter. carol: 2.8% means nothing against the fact. what does it mean against his peers? actually made money in 2015 and in 2014 as well. the deal is not so much that the returns are horrible. they are just not as exciting. paying the fee of being in hedge fund if you are just kind of waltzing around -- waltzing along? classic has to do with strategy. the funds have not done well in this environment. quite an they have done poorly 2008. sends ajit -- average hedge fund has made money three times. you are partly getting grouped in with an out-of-favor strategy. also, so much money in the past. the tutor has been around 36 years. they d

steve cohen is forming this firm which would be allowed to raise outside capital.lier in january he was banned until 2018, restricted from raising outside capital. but he is apparently able to do this. he has indirect ownership. the firm is formed to invest in illiquid security. so it looks like he is on his way. the sec ruling came out saying that it would been raising outlying capital. mark: let's check out nestle. today's first-quarter estimates beat estimate. the first quarter growth rate is the slowest since 2009. the world's biggest food company is struggling to get consumers interested in frozen pizzas and convenience meal. let's bring in matthew boyle who covers european consumer stock. growth --h the slowest matthew: yes, the slowest growth since 2009 but the most interesting figure was there pricing. the pricing was the lowest in 10 years. which basically means that nestle is going to walmart and saying, we are raising the prices of our ice cream and they are saying no. we can't. that is not happening. so that is what really is constraining the growth. ma

scarlet: where there's a will, there's usually a way and steve cohen has found it.at is allowed to take outside money before 2018. that is the year he is allowed to resume hedge funds under an sec settlement. >> he agreed to two years where he could not be in a supervisory role in a money management firm. his people are there, but he is not going to have any supervisory role until 2018. scarlet: what connection does he have? how will he have his influence felt? >> his money managers are there. they can raise money if they want. that is what we found out with this news. they are focusing on different things, so this is private and illiquid securities not necessarily publicly traded. alix: these guys will be rating -- raising the capital and trading securities. steve cohen has a percentage of this fund, but is on a beach somewhere and not doing anything with it until 2018. >> that is the idea. ramy: how a week of political turbulence left its mark on markets in several countries. next, the week's best interviews. you're talking trade deals, tech bubbles, and the final

certainly, you'll want to set the record straight if your steve cohen.e withdrawals from his hedge fund. with these people that you associate with the hedge fund industry, you have the opposite things on the same day. his tutor and vesting core has not done well for a long time. they have done money -- made money in the last few years. i think that you are finally starting to see investors ask why am i paying so much? my fund does not make money. honestly, i think this could signal a shift for the industry. people reassessing why there with the hedge fund in the first place. alex: thank you so much. a business flash. you look at some of the biggest business stories right now. mcdonald's is a limited and the wraps from the food menu. the fast food company again phasing out large ants wraps last summer at over 14,000 locations. markets are still selling the chicken rancher version of the snack. inmium wraps were introduced 2013, but were not a very big seller. ended its ban on professional mixed martial arts. the governor put the state athletic commission

that was sold by billionaire steve cohen. these trusts were disclosed last year and created for estate planning purposes but it shows that growing scrutiny could lead for cause for more regulation and add further pressure on the art and real estate market. for "nightly business report," i'm robert frank. >>> stocks started the week on a down note as a 3% slide offset gains. the dow dropped 15,000. the nasdaq falling 22 points and the s&p 500 was off six. >>> new orders for factory goods fell in february with business spends much weaker than originally thought. orders have fallen 14 out of last 19 months. manufacturing accounts for 12% of the u.s. committee. >>> boston federal president said the markets have it all wrong. he said the markets are too slow and pricing in interest rate hikes and a rise might be better suited earlier saying quote, i believe it will likely be appropriate to resume the path of gradual tightening sooner than implied by financial market futures. as of last friday the first month priced in with a bette

the center this morning is ripping as he seeks for letting steve cohen start his own firm. he reached agreement that bars him from running a hedge fund. yield to not prevent him from starting a new investment firm from last week. senator lawrence says it raises questions about the ability to protect investors. that is your business flash. we go straight to the markets desk julie hyman. earnings.ng out with >> they had earnings far ahead of estimates. all regions ofss the globe, the have record results in north america. that income doubling from earlier. even after vehicle or sales were down, so, it is interesting here what we saw happen. , kevinook at unit sales over a bloomberg intelligence oneself that it was really truck sales driving profitability at general motors because it had a renewed appetite for trucks. they had volume of light truck sales versus the general motors car. and, because trucks are more expensive, it boosted sales numbers, and has higher margins. , that companyhium is coming out with a second order forecast. the maker ofols the auto components is out

steve cohen is starting up a new firm that will allow him to take outside money again.re than $1 billion in redemption requests after a lackluster performance. our airline shares about to take off. delta leading airline higher as the company is performing artists. we are just an hour away from the close of trading. stocks are fluctuating around here.

we're doing that, free and confidential care. >> steve cohen that poured so much into this. >> steve itted to this. his son is say marine deployed to afghanistan. steve has been doing ph philanthropic work for years. and he started the clinic that's a model and we're going to scale that across the country. >> what does it mean for your organization for him to receive the award? >> he deserves this recognition. who gives $245 million to treat something that people continue to talk about. we're going to do something. >> you served in the military for 25 years. one of the first military movies ice saw was "patton." he saw a guy that was clearly experiencing ptsd, he got reprimanded for this but he said, go back out there and fight. that's part of the battle? >> it is part of the battle and stigma is part of the battle and part of the clinic focus is we're focused on outreach. support veterans and bring them into the clinic. bring their family members into the clinic, we believe if we can get a family member in the clinic, we might be able to get the veteran in the clinic. we have to brea

steve cohen is stepping back from his role as portfolio manager but he says it is not because there aren'tpportunities in the markets. steve spoke to the "bloomberg go" team earlier today. >> hard to be a fabric with every more balance in the world economy when you are talking about the german 10-year bond yield being 10 aces points, negative yields throughout the world. that does not seem to be a place of equilibrium of where things will find balance. it seems imbalanced. stephanie: in the beginning of this year people were concerned because they were comparing it to 2008 and why we don't have the leverage in the system like in 2008, are fundamental better or worse today as they were then? that for you was a booming year in part because you took advantage of the fundament else. steve: it is more difficult today to find, relative to 2008, more difficult to find rate and balances but there are some. i would say the opportunity is the inefficiency of market is growing, not shrinking. >> really? what accounts for that? we, particularly since 2008, seen the rise of index funds, etfs. we have s

. >> we are taking $275 million of steve cohen's to to build these 25 clinics out across the country -- >> that's beautiful. >> over the next five years. >> and it's free? >> free mental health care. >> families aren't eligible for care in the v.a. we want to make -- we want to give them the opportunity to get care. free -- i'm not only going to provide you with free care, but i'm going to bring the care to your health through telehealth, and we'll give you a ride to the clinic. >> you need that kind of support. >> you're a vet, by the way. support from the commandant of the marine corps it looks like and the marine band? where was that? >> pardon me? >> did you have a big event last might? >> and the top brass of the marine corps, they were there -- >> they were all -- >> honoring your boss. >> awesome. and my boss received the leadership award for all that she's done -- he's done. >> anthony, count us in, okay? whatever we can do to help. >> thank you so much. and thank you for your service and thank you for all you do -- >> well, thank you so much for what you're doing for our com

than $2 billion worth of art, including a famous he bought for $118 million, the piece sold by steve cohentrusts were already disclosed last year and were created for a estate planning purposes, were legal. it shows that growing scrutiny of this offshoring could lead to more calls for regulation and add additional pressure on both the art and real estate markets, which right now are a little fragile, given the financial markets. back over to you. >> good stuff, robert. thank you so much. robert frank back at hq. >>> when we return, bill gates investing in a company trying to bring reliable wi-fi to cars, trains and planes. more on that. but first, rick santelli, what are you watching today? >> you know, i'm watching the markets this week digest last week's important data points on the jobs scene. and boy, here we are. not a lot of volatility. is this the way all of 2016 may be? it's possible. and it might be waiting for fiscal policy, but one thing is for sure. investors rejected the old norm of coming back, and that's the topic for the day. hi...i'm pamela yellen. you may have read my bes

what does it steve: what to do cohens new firm -- steve want to do in his new firm? here is a new firm called stanford harvard capital taking cohen is not managing that money. the ftc capital of folks come all that went away. over, he can be fully active. in the meantime, it can raise money and get ready. winnie o'kelly, thank you. at sunwe will be looking edison, filing for bankruptcy binge wenttivisiom wrong. ♪ david: from bloomberg's world headquarters in new york, this is "bloomberg markets." pop music superstar prince has been found dead at his home in suburban minneapolis. his publicist told the associated press the music icon was found dead in his home thursday. was widelysongwriter acclaimed as one of the most innovative musicians of his era, drawing upon influences ranging from james brown to the beatles to jimi hendrix. the minneapolis native broke through in the late 1970's with "he hits "want to be her lover and purple rain. ♪ >> ♪ purple rain, purple rain the title song includes one of the most popular refrains . he subsequently appeared at a prince was 5

steve cohen's company had one point 5 million shares as of the end of last year.his doesn't appear to be an issue with the solar issue, it appears to be a con edison the specific issue. here's the capacity in the u.s. which has been exploding over the past few years. one of the issues with the acquisition is that it is a rooftop solar and it doesn't have utility plans which is con edison's bread-and-butter business. so these deals that the company has done has caused the company to soar and it ended up with a 16 $.1 billion in debt. scarlet: wow, thank you. putting it into perspective. another mover that we are watching today is under armour. shares are popping after the company reported better-than-expected quarter results and raised the outlook. yracy: sales jumped 64% and the showed strong international growth, particularly in china. chen grazutis joins us now. under armour results -- did they surprise you? chen: i wasn't surprised about the results, i was surprised about the magnitude. a lot of people went into the corridor worried about the domestic market, e

that's why you're seeing steve cohen's apartment come back to market again at a massive, massive pricection. i don't call it a correction. it's an adjustment. it's a correction for money. that's what you're seeing that is happening right now. that's why you're seeing more trades happen now than 2016 than we've seen in the last two years. and that -- those numbers will start coming out n next quarter. >> if you're on the market and looking at an apartment that is $25 million like this tribeca, this gorgeous three bedroom tribeca property, that certainly different from $7 million to $10 million. where are we seeing the biggest as you say adjustments in the manhattan market? >> north of $10 manage is the big environment adjustments. those are properties that there are less people that can afford apartments and homes at those types of numbers. and about 70% of all listings in manhattan, over $5 million, just $5 million, have had some sort of price adjustment in the last year alone. so you see people starting to become more realistic. once the numbers start adding up, then the inventory is

only one piece that is known to have left the collection and it is owned by hedge fund manager steve cohenhe didn't buy it from the iranians. he bought it in 2006 from david geffin. he bought it from an art dealer who did a bart we are the iranians. that dealer managed to get crucial pieces of leafs from the book of kings, very important document in the history of iran and he did a barter with the iranian government, two planes meeting on a runway in switzerland is how they did the handoff. pretty incredible story. it felt indecreedible to go down and see those works of art. >> that's an amazing piece, michelle. really fascinating that so much and a half is still there. that is hard to believe. >> it truly amazing. everything you've been doing is spectacular. i know it was a world of trouble to get any of this stuff on camera. what was the sense down stairs when you walked down, you know these artists, what was your first reaction? oh, my god. this is the met. >> you're right. it's like a mini met in the basement. it was incredibly exciting to be able to see it. they think -- we think they

created trusts to purchase more than $2 billion worth of art including a famous madiani, sold by steve cohen, by the way. the trusts were disclosed last year and created for estate planning purchases but this could add a chill to the art market, diamond markets, all the markets. we don't know how much support came from this offshore money. >> are you surprised at how many friends of putin seem to have a lot more assets than what their typical salary would indicate? >> who knew playing cello could be so lucrative. this cello player, allegedly, according to the reports, making $100 million or more. yeah, you know, the group of people, their professions, we knew some of the billionaires, but right under the radar, need a lot of people to be on the shell companies. and a lot of them didn't have jobs you would think they would be making that much money. >> makes me think i picked the wrong industry. >> picking up the cello. >> how do the wealthy and the powerful stash their money offshore? and more importantly, how do you regulate all of this? answers now from heather lowe, legal expert in financ

>> guys like steve cohen and maybe he could buy it.n agreed upon deal. it does seem like your goal is to get the highest price for this. >> got it. got to leave it there. thanks so much. >> thank you all for watching "power lunch". >> "closing bell" starts now. >> welcome to "closing bell" i'm michelle car russo cabrera. >> my third co-anchor. can't keep them. crude is up more than 6%. this is the tenth day this year where we've seen a gain of more than 5% for crude oil. we'll take you live to the oil pits and get you the story of why we're seeing -- >> that's extraordinary volatility. if we said ten days this year the dow moved 5%, we would be throwing up in -- >> big nus.

and steve cohen has a way to get around a two year ban on investing other people's money..e.c. granting registration to a cohen owned firm in march. the firm spokesman said the billionaire hedge fund manager in keeping with his agreement with the s.e.c. not to manage outside capital won't have a supervisory role at the new firm. that could change when the ban is lifted in 2018. not until then. as to had this vehicle, which will invest in ill liquid and nonpublic securities and keep up to 50% of its profits might start generating those profits, that is anyone's guess. cohen has yet to provide any seed money and the firm hasn't decided whether or not to seek outside capital. >> that last sentence is important in a way. we're seeing billions of dollars coming out of hedge funds, here he is saying we might not even want outside capital. >> at this point. >> at this point. but it also could be maybe just pu in place so you can return to managing other people's money. >> his fund was basically turned into a family office. >> that was after his other firm pled guilty to insider -

that piece was bought by a man who had it many years and then bought by steve cohen who still owns thatonly piece we know that's left that collection in the basement. >> who knew? that's amazing. thank you. we'll speak to you again about that and that is is -- did you have any idea? >> no. and it's almost a endorsement of western culture if they display those pieces. so it is an odd situation to be in having inherited them the way they did. >> i'd like just one of any of those, wouldn't you? >> you could get a screen print of it. >> yeah, my chances aren't good. >>> coming up. what does the future hold for obamacare? the st. louis healthcare based insurance firm gives us his read on the industry, next. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ from virtually anywhere. to warn of danger it's been smashed and driven. it's perceptive enough to detect other vehicles on the road. it's been shaken and pummeled. it's innovative enough to brake by itself, park itself and help you steer. it's been in the rain... and dragged through the

steve cohen and adam kensinger are pushing to stop limiting leg room. to define comfort? joining me right now with an in flight demonstration, peter johnson jr. can you put down the newspaper for a minute and talk with me about this issue, please? excuse me, sir? >> oh, hi. >> what's the latest with the leg room issue? should the government be getting involved, peter? >> no. the government needs to get involved. here's why. because the pitch of the seats that we fly in every day in america they have been diminished. so there's two issues -- health and getting deep vein thrombosis, a blood clot in the leg. they don't know why it happens, but it can happen -- >> because there's not enough room to move around. >> then the other issue is evacuation. >> right. >> right. they have never tested if the seats that are so close together could -- >> can i have a coca-cola, please? >> what would you like to drink? >> black coffee. the seats that are so close together the people can get out -- >> coca-cola, please. >> -- get out in 90 seconds or less. so people have

steve stamos. >> you roll call commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee we have quorum thank you. i wanted to thank from sfgovtv for televising us for every meeting leo davis and nona nicole's from sfgovtv item 2 the minutes of the april 2016 meeting. >> no questions open up for public comment anyone wish to comment seeing none, public comment is closed can we approve the minutes we'll take that without objection. or roll call. >> on minutes commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee the minutes are approved. >> thank you next item please item 3. >> state and federal update an action item. >> a presentation. >> yeah. good morning mark presents sends his regrets he's in sacramento i'll step up if you have additional questions thankfully not too much to report a shorter magical than in the past few months as far as the positions two new positions we're recommend in page 5 seek amendment on the assembly bill 1841 a bill related to cleaning our vehicles so on the wooden resupport the

steve: bill bratton taking action against high-ranking officers at the center of the georgia ei investigation. >> based on information we know today, we have modified and transferred the deputy chief. we have also transferred david cohen and eric rodriguez. steve: the "new york post" reporting that he accepted the ongoing investigation has been going on since last year. the commissioner says all department members with the rank of captain and above will be reminded of the roles including conflict of interest. dari: a mix of involving several funeral homes that have left her grieving family and even more pain. they say that there mothers are made have been lost. jennifer explains how such a mistake could happen in the first place. >> it is horrible. >> when consuelo died on march 22, her body was brought to the screen a home in new jersey for burial. and her family says that that is where the problem started. >> me and my husband and brother-in-law felt like that the owner wasn't happy doing what he had to do. and so i heard good things about this. worked with them. he was then taken to the funeral services and it was there that her family received shocking news and to make it even worse when they asked for the remains

steve, thank you. corey lewandowski's lawyer bradford cohen is here to go "on the record.">> hi, how are you? >> good. >> how has it been on your client throughout these past couple weeks as he faced thew] possibility of a criminal charge and criminal trial? it was extremely difficult. it's difficult on him and his family. is he a father and husband. is he a great guy. it was very taxing. it would be taxing on anyone. it was extremely taxing on him because of the enormous attention it got. >> you know, oftentimes as you know i'm a former criminal defense lawyer as well is that oftentimes to get a prosecutor to drop a case there is a lot of back and forth, back and forth. what was sort of interesting and unique about this is that there is a videotape. did it take -- i mean, what was it that the prosecutor sit and listen to you or did it take the videotape? what do you think was the compelling reason behind this decision? >> well, #3,ejáÑ woe met the chief prosecutors that were in charge here and they were very polite and very attentive to the information we gave them. we gav

cohen. the clerk is steve steamose and like to thank jim smith and [inaudible] with that if we can go to roll call. >> item 1, commissioner avalos, present. cohen, present. commissioner farrell, absent. commissioner peskin, present. commissioner tang, present. we have quorum >> if we can call item 2. >> item 2 citizen advisory committee report. >> we have chris [inaudible] our cac chair >> good morning commissioners. here to report on 4 items in the packet. improving west side. most of the comments include things like need to look more closely at non commute hours, [inaudible] to bart which is item 9. more attention paid to commuters traveling to south bay and multiagency efforts to create private commuter shuttles. our comment were mostly about clarification on the selection of fund allocation and public comment include concerns about geo graphic equity. 11 million in prop k and [inaudible] approved with [inaudible] and on capacity update item 8, our comment were mostly on lrt, on the timeframe of delivery, citing the increases around demand projection indicated the lrt should be indicated n

thee cohen -- steve: networks have declared the won.d trump has one -- corey lewandowski is right next to the microphone. cbs says he will take a few days off to take time with his family. always very loaded phrases in politics. taking time off to spend time with your family. i think what you're seeing is a donald trump campaign is the campaign is still growing. it is expanding. it has struggled in recent weeks. it have had a tough time in these post-primary events. delegatesgled to gain they thought they had one on election night -- won on election night. the donald trump campaign has tried to gear up for the next primary as we go towards 12:37. politico was first report this week that there were lots of there was a lot of tension in the donald trump campaign as they add on senior folks. i think that is a reflection of what you are seeing. with donald trump winning the new york primary, after a ring of losses, including the loss in wisconsin, where does the campaign go next? >> you talked about delaware -- steve: you talked about delaware and rhode island, is he ahead? hise does this

steve stamos. >> you roll call commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee we have quorum thank you. i wanted to thank from sfgovtv for televising us for every meeting leo davis and nona nicole's from sfgovtv item 2 the minutes of the april 2016 meeting. >> no questions open up for public comment anyone wish to comment seeing none, public comment is closed can we approve the minutes we'll take that without objection. or roll call. >> on minutes commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee the minutes are approved. >> thank you next item please item 3. >> state and federal update an action item. >> a presentation. >> yeah. good morning mark presents sends his regrets he's in sacramento i'll step up if you have additional questions thankfully not too much to report a shorter magical than in the past few months as far as the positions two new positions we're recommend in page 5 seek amendment on the assembly bill 1841 a bill related to cleaning our vehicles so on the wooden resupport the

steve stamos. >> you roll call commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee we have quorum thank you. i wanted to thank from sfgovtv for televising us for every meeting leo davis and nona nicole's from sfgovtv item 2 the minutes of the april 2016 meeting. >> no questions open up for public comment anyone wish to comment seeing none, public comment is closed can we approve the minutes we'll take that without objection. or roll call. >> on minutes commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee the minutes are approved. >> thank you next item please item 3. >> state and federal update an action item. >> a presentation. >> yeah. good morning mark presents sends his regrets he's in sacramento i'll step up if you have additional questions thankfully not too much to report a shorter magical than in the past few months as far as the positions two new positions we're recommend in page 5 seek amendment on the assembly bill 1841 a bill related to cleaning our vehicles so on the wooden resupport the

attorney steve debroda working hand in hand with you, captain cohen. i want to thank you so much for being here because prior to that time i would say that i was certainly not aware about what really went into and what horrific crimes were being perpetrated against children back at that time in 2001/2002. when we talk about child exploitation against children, we need to realize this involves babies up to teenagers. this is not just about willing teenagers doing these types of -- being involved in these types of acts. these are people preying on children of all ages and i want to talk -- walk you through, captain cohen, what some of the impediments are a bit more, about how this works, how you are being thwarted in your investigations and i want to wrap up and make sure we have time for you to explain your thoughts about the firewalls. first of all, if you could please walk through with us. offenders -- i'm talking about older children now, older kids who have access to social media, they're offenders, perpetrators, making connections through social me

taern steve dabroda working hand in hand with you, captain cohen, and thank you so much for being here. prior to that time, i would say i was certainly not aware about what really went into and what horrific crimes really were being perpetrated against children back at that time in 200-2002. when we talk about child exploitation, we need to realize this involves babies up to tangs. this is not all about just willing teenagers doing these times of -- being involved in these types of acts. these are people praying on children of all ages. i want to walk you through, captain cohen, what some of the on bements are, how this on works. and also want to may insure we have time for you to explain your thoughts about the firewalls. first of all, if you could please walk through with us, and i'm talking about offend respect, older children who have access to social media. offenders, perpetrators are making connections through social media platforms, correct? >> yes, ma'am. those are typically encrypted. >> two years ago typically unencrypted, now encrypted. >> i left my service in 2007, so i thi

steve stamos. >> you roll call commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee we have quorum thank you. i wanted to thank from sfgovtv for televising us for every meeting leo davis and nona nicole's from sfgovtv item 2 the minutes of the april 2016 meeting. >> no questions open up for public comment anyone wish to comment seeing none, public comment is closed can we approve the minutes we'll take that without objection. or roll call. >> on minutes commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee the minutes are approved. >> thank you next item please item 3. >> state and federal update an action item. >> a presentation. >> yeah. good morning mark presents sends his regrets he's in sacramento i'll step up if you have additional questions thankfully not too much to report a shorter magical than in the past few months as far as the positions two new positions we're recommend in page 5 seek amendment on the assembly bill 1841 a bill related to cleaning our vehicles so on the wooden resupport the

crimes against children taskforce which was led primarily us attorney steve the road up working hand-in-hand with you , captain cohen i want to thank you for being here because prior to that time i would say i was certainly not aware about what really went into and what horrific crimes really were being perpetrated against children at that time in 2001, 2002. when we talk about child exploitation against children, we need to realize this involves babies up to teenagers. this is not all about willing teenagers doing these type of, being involved in these type of acts. these are people praying on children of all ages and i want to walk you through captain cohen, what some of the impediments are. a bit more about how this works, how we are being ported in your investigations and i also want to wrap up and make sure we have time for you to explain your thoughts about the firewalls. first of all, if you could please walk-through with us, offenders, and i'm talking about older children: kids who have access to social media. their perpetrators are making connections through social media platforms correct? >> yes ma'am. >>

steve stamos. >> you roll call commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee we have quorum thank you. i wanted to thank from sfgovtv for televising us for every meeting leo davis and nona nicole's from sfgovtv item 2 the minutes of the april 2016 meeting. >> no questions open up for public comment anyone wish to comment seeing none, public comment is closed can we approve the minutes we'll take that without objection. or roll call. >> on minutes commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee the minutes are approved. >> thank you next item please item 3. >> state and federal update an action item. >> a presentation. >> yeah. good morning mark presents sends his regrets he's in sacramento i'll step up if you have additional questions thankfully not too much to report a shorter magical than in the past few months as far as the positions two new positions we're recommend in page 5 seek amendment on the assembly bill 1841 a bill related to cleaning our vehicles so on the wooden resupport the

steve to broder. working hand-in-hand with you, captain cohen.or to the time i would say that i was not aware about what and whatnt into horrific crimes really were being perpetrated against children at that time in 2001 and 2002. when we talk about child exploitation, we need to realize that this involves babies of two teenagers. this is not all about willing teenagers being involved in these acts. these are people praying on children of all ages. i want to walk you through, captain:, what some of the impediments are, how this works, hawrted are being t in your investigation, and your thoughts on the firewall. if you could please walk through with us offenders, and i am talking about older children, older kids with access to social media. offenders and perpetrators are making connections through social media platforms? are they typically unencrypted or encrypted? capt. cohen: typically encrypted. rep. brooks: things i think have changed dramatically. in the second step, the conversation moved to encrypted discussions, is that correct? they encou

steve stamos. >> you roll call commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee we have quorum thank you. i wanted to thank from sfgovtv for televising us for every meeting leo davis and nona nicole's from sfgovtv item 2 the minutes of the april 2016 meeting. >> no questions open up for public comment anyone wish to comment seeing none, public comment is closed can we approve the minutes we'll take that without objection. or roll call. >> on minutes commissioner campos absent commissioner cohen commissioner kim absent supervisor mar commissioner yee the minutes are approved. >> thank you next item please item 3. >> state and federal update an action item. >> a presentation. >> yeah. good morning mark presents sends his regrets he's in sacramento i'll step up if you have additional questions thankfully not too much to report a shorter magical than in the past few months as far as the positions two new positions we're recommend in page 5 seek amendment on the assembly bill 1841 a bill related to cleaning our vehicles so on the wooden resupport the

steve n irgs kagio. if you can please line up owe over here for the comment cards. sebastian wong. kirk niwaka. marion erickson. >> supervisor mauer, supervisor tang. cohenand president ever the board, i'm sebastian wong, i am a member of the board of directors of self-help for elderly. i'm here with my executive director annie chong. i want to voice my support for the reappointment of commissioner nikagio. i've known him for 20 years. he's been a person of integrity and certifys have to the city. i'm proud to count him as a friend. i hope as you move his resolution forward to reappoint him to the board, that the board also take note of his distinguished commitment to the asian pacific islander community and his numerous contributions and will vote him in as a member of full board. i deeply appreciate president breed's concern and interest in the workings of the fire department and thank you to the board for caring so much to make our fire department better. >> thank you, next speaker please. >> thank youer in opportunity. i was very surprised o to hear of what i thought was a challenge. but i'm glad to hear it's not a challenge on mr. mikagio's abilitie