here, the adobe's permit only of sand and clay. they are much more susceptible to being damaged by rain. these are administrative buildings. one interesting thing about this although you see it as ruins, it also has preserved the footprint of the fort itself and must -- most other 19th-century forts made of adobe in the southwest are gone except for the footprint on the ground. this is the only part of the fourth that was two story. this building right here that is might wonder why would there be a stone building in an adobe fort, this was the jail. if you have an instrument like a spoon or some piece of metal you might be dig your way out of jail. if your fort had a jail constructed out of stone you were probably going to stay at -- probably stay put. there was a second story and a courtroom in the second story. one of the things we know about the soldiers who served here is they were frequently in trouble. they visited a nearby community. they like to visit the women in the community. they got trunk, they fought -- they got drunk

well, this was the jail, and if and youade out of adobe had some sort of instrument like a spoon or a fork, you could dig yourself out of jail. but if the jail was made of stone, you would stay put. this looks like it had two rooms, to sell areas. it was also a second story here and the was a courtroom in the second story. one thing we know about the soldiers who served here is that they work frequently in trouble. a nearby community, they liked to visit the women in the community, they got drunk, probably in and so an average month there might have been seven or eight soldiers who had run afoul of some sort of rule, and they might end up in this probably pretty secure jail. this is what is called the sally port, and this is the formal entrance into the fort. so anyone who had business with and of course the soldiers when they were coming and going would typically use this area. again, this is the only area that was two stories. [footsteps] this building that you don't see was the post commissary and the storeroom. this was actually a very significant place. the commissary would take

i haven't tried the adobe yet, but just smelling it yet brings back home and a ton of memories. >> the binca is made out of different ingredients, including cheese. but here, we put a twist on it. why not have nutella, rocky road, we have blue berry. we're not just limiting it to just the classic with salted egg and cheese. >> we try to cook food that you don't normally find from filipino food vendors, like the lichon, for example. it's something that it took years to come up with, to perfect, to get the skin just right, the flavor, and it's one of our most popular dishes, and people love it. this, it's kind of me trying to chase a dream that i had for a long time. when i got tired of the corporate world, i decided that i wanted to give it a try and see if people would actually like our food. i think it's a wonderful opportunity for the filipino culture to shine. everybody keeps saying filipino food is the next big thing. i think it's already big, and to have all of us here together, it's just -- it just blows my mind sometimes that there's so many of us bringing -- bringing filipino f

the fort itself. most other 19th-century force that are made of adobe in the southwest, they are gone, except for the footprint on the ground. you can get a feel for what this area was like. this is also the only part of .he fort that was two stories this building right here that is made of stone. you might wonder why there would be a stone building inside of a -- an adobe fort. had a jail that was constructed out of stone, you were probably going to stay put. it looks very much like this one had two rooms, to sell areas. there was a courtroom in the second story. one of the things they know about the siliceous or share is that they were frequently in trouble. nearby community. they liked to visit with the women they found in the community. was --y on an area average month, there might be seven or eight soldiers who probably up in this -- pretty secure jail. this right here is called the stanley port. this is the formal interest into the port -- into the fort. wereoldiers, when they coming and going, they would use this area. this area was two stories. see building that you don't and thepost commissa

the program is all about empowering the next generation of females intact. adobere will be 1.4 million jobs available in computing relating -- related fields. right now women are only track -- on track to fill 3% of those jobs. adobe hopes to close the gender gap in technology. >>> early tomorrow morning nasa will make history with a mission to the sun. a rocket carrying the parker solo probe will launch from cape canaveral florida and will travel closer to the sun's surface than any other spacecraft has ever been. it is expected to reach the sun in november. it is a 1.5 it is expected to reach the sun in november. it is a $1.5 billion mission that explores the sun along with billions of stars. -- cape canaveral with more on this history making mission. >>> time to go to the roads. >> good morning. we are looking at a commute off to a good start. i want to remind you that traffic is going to be a little light this morning, but this evening it is one of the last summer getaways before a lot of people have to go to school. this might be a big weekend to get away so

pershing was leading american troops on the border looking for pancho villa, and as they rose through the adobelages and marched through them all of this white dust that rode up from the ground and from the houses covered them and they looked like they were made out of dough. >> houston, you're up next. >> good morning. how are you all? >> good morning. i always watch the american hero channel and i see the war on tv and they televise it and the fulfillment, and i realize if i'm in a war i want a camera in my hand and i would have a gun. how is it possible for them in world war i and world war ii for the camera man who is ever filming to survive that war and film in both sides of the war, but i never see them with a gun. we've got guns and bombs. >> thanks for the question. >> that's a really good question. first of all, there were american war correspondents, and there was a member named floyd gibbons who was alongside the marines and was severely wounded in belleau wood. >> they were not actually allowed at the front during the actual course of battle. they were not allowed to film attacks an

i'm going to step out of the frame as we show you the scene now on adobe road. this is unincorporated sonoma county, east of petaluma. let's begin with video from sky 7 shot about one hour ago when this happened. it shows the remains of a semi tractor trailer, the melted remains, to be more accurate, for reasons unknown the driver lost control, it plunged down a steep embankment, he hit telephone poles which brought down power lines. the crews were on it in a hurry. as it turns out, luckily, cal fire crews were working just down the road. at one point there were 20-foot flames coming off the big rig. they were climbing the power poles making it even more complicated. it took several minutes for pg&e to cut the power for those lines. did the wind change direction? because this is blowing this way. >> there wasn't a lot of wind on it so it started burning directly down this way and it hit the foliage and the gully here. that slowed it down on that side of the fire. >> reporter: if this happened another day when it was drier? >> yeah, would have been a different fac

the death toll rising from adobe bridge collapse in italy. bridge buckling during a storm sending cars and trucks plummeting 150 feet. at least 35 people killed is the search for survivors intensifies. jillian: the tragedy calling for bridge management to resign. >> it happens during a sudden violent storm on the italian coast. as many as dozens were killed, many more injured when a bridge on the main highway linking italy with france collapsed sending cars plunging 150 feet down, landing in a heap of concrete rubble. firefighters and other first responders digging through the debris looking for survivors while local officials promise a thorough investigation into how the collapse happened. >> reporter: knows the moment of relief, sweat and prayer. tonight will have to be the time to find out who's responsible. >> reporter: engineers are checking the rest of the bridge trying to determine if there is further risk to the public. the italian interior ministry says recovery efforts will begin as soon as the rescue operation is over and he will a

the u.s. and mexico flag. them is for missia and . this was a courthouse. these are old adobe buildings. , the streetdewalks is even brick. >> is this a large list for tourists? alex: this is tourism center. this is the magnet or hub for this area. >> we are leaning -- leaving the plaza. where to? alex: we will hit another community that is not as old, but is still very unique and distinct. >> we are turning into the tortugas neighborhood. tell us about that. alex: tortugas is plural for turtles. they are public people. is that when they flee to mexico as a result of the 1680 revolt, they are two groups . one group is about two weeks ahead of the other group. it is a mixture of mexican indians, spaniards, and pueblo people who are fleeing the revolt. they were forced to flee. the straggler group that is behind the main group, the main group they complain or say those people are moving slow and moving like turtles. this building over here on the left is kind of a terra-cotta color, all three buildings are the same color. these are the social and religious and ritual ceremonial

see the red building there. it's near pena adobe and two left lanes blocked and crews on the way there to check it out there and then the venicia bridge toll plaza. three cars blocking the slow lane there. i don't see a lot of slowing yet. it is the reverse checking back in a few. >>> a two-alarm fire burning in pleasanton. matt? >> reporter: good morning. check it out. flames still coming off of this building. a huge plume of smoke, as well. you can see it here in pleasanton in a commercial area. no shelter in place because of that smoke and also a transfer station for the garbage company. they're not impacted right now. this is called in around 3:30 this morning. bush road. near valley avenue. the flames were huge and firefighters decided it was too dangerous to send people in and fight it defensively. firefighters say the metal building houses a fencing company with mixed materials inside including vehicles. >> firefighters face multiple hazardous including energized fence and venting tanks. >> reporter: firefighters say there ar

technology and bringing girls into different stem fields or showing them they have the capability if they wanted to do that. >> adobe who code programs at their san jose, seattle and new york sites and this is the sixth year they've partnered with the organization. >>> coming up on the 11:00 news, an emotional day in court as families of the victims killed in the ghost ship fire face the two men charged in their deaths. their heart wrenching impact statements at 11:00. >>> and the 49ers and cowboys' game went down in the -- to the final seconds -- mark will show us the fantastic finish, coming up in sports. california phones offers free specialized phones... like cordless phones. - ( phone ringing ) - big button, and volume-enhanced phones. get details on this state program. visit right now or call during business hours. does your business internet provider promise a lot? let's see who delivers more. the others don't. we offer up to 6 hours of 4g wireless network backup. everyone else, no way. we let calls from any of your devices come from your business number. them, not so much. we let you keep an eye on your busi

the first is scott, the chief product officer at adobe and co-founder of behanced. second person, she is the founder and ceo of the match maker company, sweeten. she started from nothing and is one of the fastest growing entrepreneurs. can't wait to see how you do. >> great. my name is julian burke. my company is dreadsock, seeping $300,000 for 10% in the company. it is a hair apparel accessory line for people with dread locks, braids, twists, curls and other hair styles. they are mother and fathered with the highest performance materials. this piece, the original dreadsock primarily for sleep is the chosen hair protection for restaurant, kitchen, hospitals and sports and entertainment personalities. offered in four different sizes, the dreadsock allows for complete protection for every stage of growth. head bands, ties, beanies and others. with little marketing, we have built a lifestyle brand appealing to a wide range of customers around the world. >> that was the russian nesting. how many more. fantastic job. i will take your dreadsocks and give you pens. i need t

[plane engines] the raf came, facing odds of 6, 8, 10-1 and adobe and, shouting the cry tally ho.engines] calls for the men of the raf to be knocked out of the air. the men of raf did not read the nazi plan. in the first four days, the raf not 182 german planes out of the sky. notkn --ocked -- knocked 182 german planes out of the sky. they flew over the thames river. [explosions] >> take cover! engines] hitler made off with 180 more planes. thatuftwaffe went to stamp -- southhampton trying for a knockout before supplies overseas ran out. they cannot be knocked out. cargoes were unloaded for the protection of the raf overhead. spitfires and hurricanes in the air was not panning out. he switched his main attacks the fighter airfield. maybe you could destroy the planes on the ground. he bombed the airfields and the fields were hit. but the planes were saved. for britain, unlike poland, did not make the mistake of bunching the planes on the runways. the planes of the raf were scattered and hidden, only a few on one field. the spitfires still went to meet the enemy. in the first 10 day

story office tower, it would have a bridge, connected to its current headquarters. 3000 adobe employees could work in the new tower. the project has already been approved. >>> a first of its kind art gallery in the bay area, a celebration of the creativity of black women, beginning with the founder and carrying through the artwork. a sneak peek. >> reporter: tucked away through the main thorough what -- thoroughfare, a place where condos are displacing culture, a new art gallery unlike any other. in the bay area or the country. >> a great celebration. >> reporter: name for the owner ring -- owner and curator, it is by and for black women, believed to be the only one of its kind. >> it is particularly good to hold the space in the district, to have a space that exclusively and unapologetically celebrates the stories and lives in creative force of black women and women of the african diaspora. >> reporter: we took a sneak peek at the first exhibit, riot babies, born amid the uprisings and unrest of late 60s detroit, her hometown. >> there is a particular kind of personality that sprung from that.>> reporte

we have also this earlier issue up near vacaville, that's cleared to the side at pena adobe westbound out right now. still slow up and up over the altimont past. and from san rafael across the golden gate, about 16 minutes on 101. >> thank you, sue. >>> all chipotle employees with food safety training. the company made the announcement after more than 600 people were sick from a restaurant in ohio. health officials say employees left food at unsafe temperatures. this latest issue follows an outbreak that sickened hundreds of customers in 2015. one woman in the south bay says it won't stop her from eating there. >> i'm not afraid of it. no. i mean, i still go to chipotle every now and then. >> the company will start retraining the 70,000 employees next week. >>> the proposal to drink at bars until 4:00 a.m. just took a huge step forward. how close it is to becoming law. >>> eating dessert should be a law. and all the ice ♪ ♪ ♪ i put a spell on you ♪ yeah, because you're mine ♪ with chase atms serena can now grab cash on the go, all with the tap of her phone. ♪ stop the things you do no

its high disrupting your own business is never easy i remember when adobe switched to a software as a service model. it cratered the stock. now adobe is a huge subscription business that made its investors a fortune. i've seen clorox take a risk i think it's going to pay off. amazon might turn their old-fashioned drugstore business upside down and destroy the margins. there's walmart and nordstrom, billions in digital over the course of years, and there was no instant payoff. suddenly it all works. more on both of them later on the other hand, sears and jc penney, they've been left in the dust bottom line, regardless of trade wars and tariffs, two issues the president made clear this very afternoon aren't done by waged by any means, we need to celebrate these companies that are willing to put their present business at risk in order to own the future of course,pepsico will say, please, jim, it's only at three, not a risk it's conceptual. it's etherial and existential risk if companies like pepsico and constellation didn't make these gutsy moves, their competitors would. somebody is going to disrupt these industries

adobe. but they're doing the right thing. what shareholders want is r recuring revenue look at the cloud giants, et cetera another thing is that there are slow and steady names in the nasdaq 100 that are not tech o'reilly automotive. this is a $300 something stock no one that owns it is down. continues to grind higher. doesn't make 10% moves on a daily basis. >> all time high today back to the ipo in '93 >> it's an animal. here's the last thing. tactical model we manage for clients internally, when this month ends, if we end anywhere near where we are now, we will have been fully invested in the nasdaq for 26 consecutive month, which is unbelieve bable the point is that not that 26 months ago i would have seen this coming, it's that when you're rules bi based, just goio trend, you have a better chance at catching the majority of a move like this than you do if you're dancing in and out. >> pete, what names would you continue to buy here sfl one of them i just bought was intel. the reason was right now, look, their earnings we

we have the latest next. plus, adobeost annoying phrases used in emails, we reveal the worst of the worst after the break. i get it all the time. "have you lost weight?" of course i have- ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro. so, the whole world is talking about ai. big, bold promises like... it'll find life on mars! but here's the thing. you don't live on mars. (beep) you build wind turbines. morning, sara. supply car parts to thousands of cities. answer millions of customer calls a year. like this one: no, i didn't order this. it's terrifying. and that's why you work with watson. hello. it knows your industry, protects your insights, and works with tools you already use. that's why it's the best ai for the job. ♪ ♪ ♪ cheryl: welcome back to mornings with m

. >> all the big stocks you've seen lead recently, even the ones like nvidia, adobe, the stocks thate been real leaders in recent times. facebook, more recently it's come back and given back most of its gains. the energy sector has been very bad and netflix. those are very big moves >> i want to turn to victoria here because what we saw is how defensive its become again this week so your top sectors are real estate, utilities, consumer staples and health care. and this is part of the miracle of this market we keep getting this rotation when big leaders like tech fall back a little or aren't as strong, other groups come in are we going to see a continued turn to value in the next several months >> i think you're going to see a small term to value. what people are probably doing is taking a bit off the table from those growth stocks we've seen the sectors that have been leaders year to date. the technology to consumer discretionary, those are the ones lacking this week and we're seeing great earnings from the retail numbers coming out, at least a majority of them and there's anticipati

this is one that will do well in the next couple -- >> and -- >> adobe >> dow down 70 don't forget, warrenn the network today "power lunch" has that story right now. >> i'm melissa lee snapping a four-day winning streak >>> plus growing crisis that could put a rid on this recent rally. mark your calendar apple expected to release its new iphone september 12th. there will be a major first for this apple event details ahead. warren buffett speaking first on cnbc with our own becky quick, stocks, economy and all the highlights, straight ahead. >> dangerous jobs. special series ending with a jolt meet the man putting his life on the line every day in repairing the world's highest

by the year 2020, there will be 1.4 million jobs in computing related fields but women are on track to fill 3% of those jobs. adobe into the program and will enhance the futures and careers to fill those jobs and close the gender gap in technology. >> i really believe in education and bringing girls into fields and showing that they have the capabilities if they want to do that. >> adobe hasthe girl summer pros adobe has partnered with this organization. >>> it is 6:58. two snow leopard cubs are in the exhibit at the san francisco zoo. they stepped out of their dance yesterday accompanied by their mom. one, was a male and the other a female. snow leopards are listed as endangered species. >>> today is day 2 in the sentencing hearing for the two men responsible for the deadly ghfire. >>> any moment now, we expect to get an update about the destructive mendocino complex wildfire and the latest contentment numbers with firefighters working around the clock. >>> good morning. it is friday. >> good morning. rosemary is here for steve. good morning. >> happy friday. i live look with clear skies and a little bit of fog b

the hardware is the addressable market. >> adobe. >> adobe is an amazing stock and everybody decided 's the model they want to follow in terms of getting everybody on subscriptions. >> it's still fresh in my mind when apple is going to introduce a phone, i have a flip phone motorola that's so cool. why does apple need to make a phone? i look at my kids and the world now and everybody is walking around with a spare computer that they would have had on their back and it changed the world. >> totally did so the benefit of that it's going to last more than 11 years. >> but it wasn't just an add on product. it is apple. that's what i think about. >> totally. >> and this is viewed in a political backdrop at times. if you go back to 1999 and do the compound rate of return, we had -- >> s&p was 1500. >> you go up from there it's like 4% a year it's been a below average return from 1999. now if you go to 666 at the financial crisis lows then it looks like a great -- it's gone nowhere. >> if you start the clock at the craziest moment in history for stock valuations, the returns aren't great fro

a new poll in the us might help you get it right. adobe phrase by a quarter of survey respondents. in second place was per my last email followed closely by per our conversation . i knew you would have a theory about this. just say it. as per my previous e—mail... it is the way you say it. the goats would know i say it in a much happier, smiley way and you say it ina more happier, smiley way and you say it in a more personally aggressive way. that was not passive aggressive. if iam going that was not passive aggressive. if i am going to be passive aggressive, i will be passive aggressive. i will say, listen, if you have not seen my e—mail, have a look for it now. get with the programme! good evening. wednesday was the day of contrast with weather fronts moving south and east across the country and they brought cloud and rain. we have three quarters of an inch close to kent and it stayed pretty dull for much of the day. it took awhile for the cloud too thin and break. but behind those of france we also saw some decent spells of sunshine. fu

the bigger issues is we lost momentum in some of the real power houses and frankly adobe or microsoftor thing that is are a hundred billion plus they are not showing the lights that they show as of certain values type. do you think money is coming from microsoft to twilio? >> no. >> i think the little guys would get pulled up in the wake of a b beta of two. should the big boys be killing these guys >> such different assets it does not matter i am saying this kind of after hours move is typical. that's all it is >> it is a good sign >> well, it is not a bad sign from momentum stocks their guidance was not anything to stick at. you loo k at the stocks, the trade is 63 forward. so if nothing else you know in the environment that we find ourselves in, if momentum stocks will tell you anything maybe this is a bit of a white flag in the short term >> carter says that may not be the case for much longer we'll break it all down for you on plasma. >> another acronym >> there is a lot of way to play momentum m.t.u.m. let's talk about what you call value. the first letter of these five sectors,

and as the troops rode through these adobe villages and marched through them, all of this white dust at rose up from the ground and from the houses, covered them and made them look like they were made out of dough. >> george in houston, texas, you're up next go, ahead. >> caller: good morning, how are y'all? >> good morning. >> caller: the question i have, i always watch "american hero" channel and the military channel and here's the question i have. i see the war on tv, they televised it. and how is it possible for them to film it? i realize if i'm in a war, i won't have a camera in my hand, i will actually be having a gun. how is it possible for them in world war i, in the world war ii films, for the camera man, whoever is filming it, to survive that war and film it both sides of the war? but i never, i've never seen them with a gun. i mean guns and bombs and everything dropping. >> george, thanks for the question. >> that's a really good question. first of all, there were american war correspondents serving right at the front. there was a fellow named floyd gibbons from the "chicag

the courthouse. these are all old adobe buildings. the brick sidewalks, brick patio, sidewalks, the street is even brick. >> ssa large place for tourists? >> this is tourism center right here. this is the magnet or have really for this area. >> so we're leaving the old mesilla, leaving the plaza. where to? >> we are going to head to another little community that is not as old but is still very unique and distinct. >> we are turning into this neighborhood. tell me more about this area. >> it is plural for trouble, so it's turtles. they are pueblo people. so the story is that when they flee to mexico in 1680 as a result of the 1680 refold, there are two groups, one group is about two weeks and of the of the group and its a mixture of mexican indians, spaniards and pueblo people who are fleeing the revolt and their force by the spanish to flee within. the straggly group, the group behind the main group, the main group says that they complain or sales people living with, then moving like turtles. so this building over on the left, kind of

. >> i often wonder what it would be like if steve jobs was on twitter during the scandal or his rants against adobesurpassing market cap, that kind of thing what do you think elon musk's mindset is here? is he thinking about the impact perhaps on the doubters? or is he just venting? >> i think -- i can't imagine that steve jobs would ever do that kind of tweet i remember him during the option days and what he did was, he had very careful discussions off the record with a few reporters to get his point of view across and no big public statements there. everything was very carefully choreographed. twitter exposes your personality. so if you have a big personality that likes to make a lot of big waves, twitter is a big amplifier of that. elon has really ramped up his twitter activity and it has gotten him into trouble in a lot of cases i think there's a lawsuit about something he said about the thai rescue there and i think this is a piece with that, he's sort of using that to express his mind though i i can't imagine that he didn't have some sort of what would happen when he posted this tweet. >> you

this is one that will do well in the next couple -- >> and -- >> adobe >> dow down 70 don't forget, warren buffett was on the network today "power lunch" has that story right now. >> i'm melissa lee snapping a four-day winning streak >>> plus growing crisis that could put a rid on this recent rally. mark your calendar apple expected to release its new iphone september 12th. there will be a major first for this apple event details ahead. warren buffett speaking first on cnbc with our own becky quick, stocks, economy and all the highlights, straight ahead. >> dangerous jobs. special series ending with a jolt meet the man putting his life on the line every day in repairing the world's highest voltage power lines, wow "power lunch" starts right now >> welcome to "power lunch." i'm tyler mathisen glad you could join us on a sweltering thursday here in new york stocks under pressure, dow down triple digits earlier, down now about 66 all three of the major averages contemplating their first declines in five days. the nasdaq has turned into positive territory, as you can see. it did hit a new reco

the global software industry. op iopen is like apple and ibm d adobe, autodesk. we have many wonderful members. we represent pretty much every big and small software company that is there. host: nuala o'connor mentions several large companies which probably have the resources to comply with these new regulations. does this hurt smaller companies? have: that is a comment i heard a lot from u.s. based companies. i think it is something we need to watch out for. i don't think the intention behind the law would cement larger institutional players against smaller upstarts. in fact, i think someone say it was intended to increase competition by european companies and bring their software and tech industry to the fore. we have been hearing about that for a long time. i am not certain that is 100% correct. i think there is a lot of compliance and he is to be done to start the analysis of what data your company has, what information you have about your customers, suppliers, vendors, business partners. i think good data stewards, and i want to double down on the tour's point, that this affects not just th

the company to publish an arsenal of blue ints onlicense plate. but eight states says reasing them threatens national security. >>> some phrases are more annoying th others. adobe surveyed 1,000 people to see which phrases annoy us the most. at the top of the list, not sure if you saw last e-mail but -- >> the tone is usually -- don't think you saw my last e-mail but -- >> and next, per my last e-mail. and the third place, per our conversations. experts saynowing which phrases to avoid can make your day less trestressful. >> do you think people would get through work if we wrote what wg t? >> no. we could get fired. we could lose our job. >> i'm one of the ones who is really bad about checking my e-mail. so much sttrf. have yod to e-mail me? >> save me a second follow-up one telling me this. >> orth a d. >> let's talk about the wther. you're thinking really hot again today, right? the heat is back. >> like the dog days of summer. they all returned. we hadeally pleasant temperatures and the pleasant humidity over the weekend. now, the humidity, the 90s, they're all back in the forecast. we're going to stay relatively dry until the end of the week. t wi humidity,

the computer did not want to open a p.d.f. in adobe, so -- now we're all good. good afternoon, commissioners. welcome back. i'll paoli ikezoe, and i'm here to present the annual downtown watering report and answer any questions that you may have. so this is actually my last downtown plan monitoring report with you. i'm actually handing it off to another planner, so next year, you'll have someone else. but it's an annual report covering the state of downtown. gathers data from a variety of sources on metrics relating to the goals of the downtown plan which created the downtown c-3 zoning district, which is the red area on this map. we start by looking at office vacancies as an indicator of the downtown office markets so downtown office vacancy fell from the previous year even as millions of square feet of new office space came on-line. average downtown office rents continue to rise increasing about 1% to just over $71 persquare foot. our reports have suggested that this is the result of large -- large amounts of new office space coming on-line. retail vacancy rate

relation, what's happened with subscription models doing well sales force.com, adobe, subscription names are thriving now. >> jeff, theblem with your argument is that some of the stocks have not been correlated with global growth one of the reasons people liked them over the years of the bull market in times of crisis or worries about the european debt crisis or the u.s. economy or political shocks is that they have fairly stable businesses that continue to grow 30, 40% revenues, despite what's happening globally the lower interest rates in response to the slower growth has been quite helpful in terms of money finding their way to growth names. >> i'm not quite sure we can call them consumer staple stocks yet. obviously they are insulated from concerns about manufacturing growth around the world, but still very much tied to consumer attitudes, consumer spending we may have seen the peak in terms of momentum, job growth within the u.s., starting to see that overseas as well. that's critical to consumer inspection ultimately there will be decisions. we may be a year from an inverted yield curve, perennial sign and poten

back to technology for a second, again, outside of the fang names, they're very good stories in technology. adobe or advanced. >> it's just not apple in your view >> no, it is apple >> but you don't own it. >> because everybody owns it >> well, you can't own all stock out there. >> of course, of course. everybody owns it, etfs, mutual funds. >> apple, 30% of the shares are held by the top ten shareholders just last quarter, one of the big ones, warren buffett actually added to this position. >> he helped propel it, by the way. >> i think the thing about apple and what we're reminds of last quarter with results, this is a company with buying power. i think that's going to be increasingly important as we move throughout the year companies are going to get singled out, who has pricing power and who doesn't. now it's even more apparent. >> i want to make one small comment here if you don't own the stock, this is not for you, joe. you know what to do. if you don't own the stock and what do i do we should be in it there has been a quarterly pattern, these asian suppliers of chips and components of the