. >> the social networking company public this morning becoming one of the hottest and most valuable initial public stock offerings in u.s. history. mark zuckerberg rang the bell from facebook headquarters and became the 29th wealthiest person on earth. >> many employees and invited guests -- [ unintelligible ] sky 7 hd was over the campus and its so-called hacker's square this morning. zuckerberg wearing the hoodie is in the middle of the crowd. you can see employees taking photos and shaking his hands. >>> dollar signs the new friends of mark zuckerberg and company. ipo means facebook is worth 112 billion dollars. more than amazon.com and disney. amy hollyfield joins us from facebook headquarters. >> reporter: mark zuckerberg has the status update that all of us can only dream about he became a billionaire today here in an enthusiastic menlo park. mark zuckerberg rang the nasdaq opening bell remotely from his menlo park headquarters this morning in his trademark hooded sweatshirt. fellow workers say it was the perfect wardrobe choice. >> i think it is great. why change a thing it h

the social network company with 900 million users ends the day right where it started. edward lorens has more. >> if you bought a share of facebook stock you are now 23 cents richer. ended its first trading day just above its opening price. >> we have basically a nothing percent gain, so they unveiled the great new starlet and she fell on the red carpet. >> mark zuckerberg made $23 million on paper. his company is now worth more than $100 billion, more than am aan, disney and starbucks. he rang the bell remotely from the west coast. >> in the past 8 years all of you out there have built the largest community in the history of the world. you have done amazing things that we never would have dreamed of. >> reporter: he made many people here instant millionaires. many of facebook neighbors. >> some hope they share their wealth. >> hope they will put in some walking paths and better ways to get across the road. >> reporter: the public offering is all anyone has been talking about all week. >> are you kidding? is there stock left? how much is it? >> reporter: right now it co

. >> the social networking company public this morning becoming one of the hottest and most valuable initial public stock offerings in u.s. history. mark zuckerberg rang the bell from facebook headquarters and became the 29th wealthiest person on earth. >> many employees and invited guests -- [ unintelligible ] sky 7 hd was over the campus and its so-called hacker's square this morning. zuckerberg wearing the hoodie is in the middle of the crowd. you can see employees taking photos and shaking his hands. >>> dollar signs the new friends of mark zuckerberg and company. ipo means facebook is worth 112 billion dollars. more than amazon.com and disney. amy hollyfield joins us from facebook headquarters. >> reporter: mark zuckerberg has the status update that all of us can only dream about he became a billionaire today here in an enthusiastic menlo park. mark zuckerberg rang the nasdaq opening bell remotely from his menlo park headquarters this morning in his trademark hooded sweatshirt. fellow workers say it was the perfect wardrobe choice. >> i think it is great. why change a thing it h

on friday he'll get even richer because the social networking company is expected to start selling stocko the public for the first time and begin trading on nasdaq. that ipo could vague and ambiguous facebook at nearly $100 billion making it worth more than disney, ford and craft foods. >>> yahoo's ceo scott thompson is out looking for work. thompson agreed to resign after the company learned he listed a computer science degree on his resume that he did not earn. the internet company's board appointed ross levinson as interim ceo of yahoo. >>> closer to home a three- alarm fire in prince george's county destroyed part of a car dealership. it happened this morning. firefighters arrived to find heavy fire and smoke in the passport repair shop. the blaze extended to the roof making it unsafe for firefighters to remain inside. took a couple of hours to bring the blaze under control. investigators say it could take several more days to determine the cause of the fire and full extent of the damage. >>> the church bell has told for the final -- tolled for the final time for members of the large

rowe price taking a stake in the social networking company. they have one of the biggest holds in facebook. futures this morning are flat. we do have the weekly jobless numbers that come out every thursday. stocks continued their declines yesterday. new video of the late steve jobs comes to us from a former apple employee. the video is set to the tune "ghostbusters." the video meant to fire up the apple sales team. another a video of his 30th birthday. at the new york stock exchange, i'm jane king, bloomberg news, for wbal-tv 11 news. back to you. bloggers taking over the internet? >> nothing new to the web. mac users may be booking nicer hotel rooms than pc users. >> 5:22. 55 degrees on tv hill. what you'll probably see more police when the casino opens. >> don't forget to e-mail us your response to our water cooler question of the day. how do you think the president's support of gay marriage will impact maryland's potential referendum on the issue? you can share your response on wbaltv.com, on our facebook page, or send us an e-mail to waterc

the commission sent a second request asking the social networking company to provide large amounts of data for them to sift through to make sure that the deal complies with antitrust law. we heard the purchase price of instgram for $1 billion, but because facebook stock has dropped so low the deal is now only worth 163 million. this debacle is having a big impact on the taxing. one expert says there's a lot of blame to go around but at the heart of it, the stock price was just too high. >> facebook was always a troubled property. they rushed it to market. they try to get a high a price as they thought the market could bear. they got up price and of course the market caught on to what happened and the price continues to fall. there is a small difference between something like this and a con. i really think they sold a lot of people on a value that they just did not have. the end result is a many dock, that's. >> i have always thought the stock to be valued between $18.20 dollars. it is still higher than the figure should be and i think it will continue to trend down. >> the facebook de

facebook is hoping the menlo park city council will give the company a thumbs-up to expand their campus. tonight council members are expected to vote on whether the social networking company can increase the number of employees by more than 3000. there's concern that more workers would increase the traffic in the area. >> 1 bay area lawmaker wants to cut down your share of the cost of pg&e multiple billion dollar pipeline upgrade. the utility plans to build ratepayers for most of it. but having $200 million fund set aside for state fines related to the deadly pipeline explosion in san bruno. jerry kill has introduced a bill that would put that money towards the pipeline project. under current law, it would go straight into the general fund. >> this means that people in los angeles will benefit some increased state services from pg&e ratepayers in northern california. this does not make sense. >> he claims that a law will save ratepayers more than half a billion dollars .. >> tonight we're learning more about the soldier killed in afghanistan over the weekend. a u.s. army team carried the remains of the specialists to dover air force base in delaware. and tonight h

the social networking company will start selling shares at $38 a share. d to be worth $104 billion. most of the stock is already been snatched up by big-time corporate investors but you may still have a chance to get your hands on it later today. >> i have read things that say you should invest in companies that you know or that you like. >> i would wait about a half- hour for that to settle a little. i would not do it at all, to be honest. >> some experts say facebook could share the same fate as other technology web sites and made a splash and then went bust. we are told facebook employees stayed up all night trying to come up with the next big idea. investors and wall street's hope that facebook's magic can rub off on the rest of wall street that had big losses because of concerns that greece could leave the euro zone. >> to access to oil piles of evidence in the trayvon martin shooting case. 200 documents and photographs and videos. they leave more unanswered questions. tahman bradley joins us from northwest with details. >> this evidence is painting a

the social networking company now says it expects the stock for between $34 to $38 that.her than a previous range of $38 to $28 to $35. facebook's initial public offering is expected at friday. >>> you may log on to facebook every day, but does that mean you should be adding the stock to your portfolio? >> jessica doyle has what you need to know. >> reporter: there's a ton of buzz, but just because 900 million plus people logged on to this social network, should you try to jump in on the stock? if you're a facebook insider or a big money trader, buying shares before they hit the public market is a no brainer. >> it's going to rocket on the first day and that will be an automatic gain. >> if you're like the rest of us, some argue you may want to watch this stock offering from the sidelines. >> do not buy on the first day. one strategy is to wait up to six months. the so-called lockup period expires. >> insiders like company employees can cash in on their shares. when they're allowed to sell, the theory goes, the price will likely drop, giving smaller smaller investors a ch

facebook has already reached record status as the biggest initial public offering in history by an internet company. the deal will raise the social networking giant around $16 billion in proceeds, and value the company at more than $100 billion. of course we'll have much more coming up in business. but first, now here is a look at other stories making news "early today" in america. >>> in north carolina, an alligator attacked a man who was just trying to capture the reptile alongside the highway, harmless, right? the victim was bit in the arm but amazingly only suffered minor injuries. he works for an aquarium and was called to the scene after a driver spotted the gator, which was eventually caught. unreal. >>> in rhode island, could be a breakthrough for those who are paralyzed. researchers at brown university released video showing a robotic armory sponding to basic commands given through only the person's thoughts. the robot was able to give the patient a bottle to sip from. a device attached to the woman's brain allowing a computer to decode messages from her mind and send it to the robot. >>> a florida couple had a different kind of se

shares of the social networking company now down 23% since the debut. that makes facebook one of the worst performing initial public stock offerings of the past decade, down $25 billion in market value in less than two weeks. spectacular failure so far for that ipo. >> that fall is mr. zuckerberg's worth, wasn't it after the deal initially? >> i have to crunch the numbers. i couldn't tell you off the top of my head. >> that's a lot of dough. >> she said don't buy it right away but who knew this would be the upshot. >> everybody is surprised. >>> the world of bluegrass and folk music has lost a legend. doc watson died yesterday. he was 89. and a boy growing up -- as a boy growing up in north carolina, he bought his first guitar at sears for $10. he became known for his flat picking style of playing the guitar. he was awarded the national medal of arts. in 2004 he was awarded with the grammys lifetime achievement. in all he won seven grammys in his career, most recently in 2006. ♪ i've got the river blues when it comes to gardening, we're, well, inexperie

the social networking companies said they expect to sell stocks for a 34-$38 per share. eases the sign of high demand for investors to own a piece of the world's most popular social network. the ipo is the most anticipated in years and would value facebook at more than $100 billion. it is all supposed to happen this friday. a new poll suggests almost half of americans think facebook is a passing fad. they think the asking price is also too high. >>erica: here is was some of our viewers had to say. that thought >>mark: at the nation's parks and monuments, families will get free passes as a way does it figure for the men and women serving our country. the annual as is normally $80. >>darya: states 3 of the bicycle race begins today. costs >>george: the bike route is likely to affect local traffic. the race starts a 11:00 a.m. and expected to finish between 3:00 p.m. and 3:30 p.m.. >>mark: it is a beautiful ride. we will be right back as the kron4 news continues. never in my lifetime did i think i could walk 60 miles in 3 days. 60 miles in 3 days is-- is huge. if my mom can

the social networking company expects to sell its stock for 34 to $38 per share. gher than the previous range of 28 to $35. high demand from investors led to the higher pricing. the idea will value facebook at more than $100 billion. >> some breaking news out of the state where occupy the farm protesters apparently tried to retake a tract of land on my uc- berkeley. they marched to that property in albany around 5:00 and were met by a group of police officers who were guarding the area. officers forced them off the land yesterday. the protesters tonight have left the area, no word on any arrest but we'll keep an eye on it. a big 75th anniversary celebration underway in san francisco, in addition to the golden gate bridge, another icon that left its own unique mark on history. patrick shows us that the chances are your tearing a piece of it in your pocket. >> this was a rare inside look at a money machine, the u.s. mint in san fransisco turning 75. >> specifications are closely guarded secret. >> they're making money with pride. >> we're making american art through

shares of the social networking company are now down 23% since making their debut. that makes facebook one of the worst performing initial public stock offerings of the past decade. it has lost $25 billion in market value in less than two weeks. >>> consumers of a new line of computers to consider. the next generation chrome books have just been rolled out and google is hoping to build a business by selling a computer operating system that revolves around its popular chrome web browser. a new line of lightweight laptops built by samsung don't have a hard drive. they function like terminals dependent on an internet connection. the chrome books haven't made much of a dent in the market since they debuted a year ago. they basically operate like an ipad. there's 3g version, wi-fi version. not a lot of computing built into the box itself. >> we were focused on apple because of all the reports. i've never seen one of these things. >> consumers haven't latched on to them so they're hoping this time around. we'll see. >> what do you have for us in the next half hour? >> as s

on them sharing more information and seeing more and more advertising as they used the social network. even the companydmits this will be a challenge. as more and more people use their phones to access their facebook, accessing a ad or a good idea may be more difficult. it knows your information and that kind of thing. i don't like. >> i don't really care for them. >> this week's decision by general motors to pull its advertising from facebook because it was not selling in a car's adds to the uncertainty. some investment firms are advising caution. >> we're telling our investors to hold off. number one, we don't know what the debts of the balance sheet of the company looks like yet. that is a big red flag for. we wonder understand it before we tell people to invest. >> but with small investors keen to get into the act, then comes the hard hit. >> relatives have given detailed accounts of torture and retribution which they say they have suffered at the hands of chinese authority's. we have obtained the first interviews. the events sparked a diplomatic crisis between the u.s. and china. >> he is the blin

the third ceo switch in three years at that company. but one corporate executive is having a good day today. that's facebook ceo mark zuckerberg. it's his 28th birthday today. the social networking company is expected to be public in a blockbuster ipo that could value the company at almost $100 billion. barbara, back to you. >> okay, thank you. >> reporter: you bet. >>> we begin baby week here on news 4 midday on a special anniversary for nbc 4. it was 25 years ago that our station started an outreach campaign called beautiful babies right from the start. during that series designed to help decrease the extremely high infant mortality rate in the district, i made a television journal of my own pregnancy. even allowing a camera into the delivery room as i gave birth to my daughter. the district's infant mortality rate fell to an historic low. much of the reason prenatal care. you see there i was in the delivery room ready to deliver that baby. planning for pregnancy allows women to get that prenatal care early. it also allows to you get emotionally ready to start a family. dr. michael levy at shady grove fertility center is here to help us kick off baby week along with joy who tu

a technical glitch delayed the social network company's debut by 30 minutes last week. orders were delayed, give something investors and traders significant losses as the stock price dropped. the senate's banking committee and house financial services committee are looking into that matter. >>> now 6:27. still laughing at you. 71 degrees. ahead, how a crook took local seniors for a lot of money. >>> how police ended up locking up this guy after they stopped him for jaywalking. >>> and not again, what marion barry said this time while apologizing. >>> i apologize efusely for any hurt. >> what marion barry said trying to make thing right that has some upset. >>> and space show. the spectacular sight in the sky that happened overnight. good morning, everybody, welcome back to "news4 today." i'm aaron gilchrist. >> i'm eun yang. it is memorial day weekend, a live look at the bay bridge. some people are already leaving town for the beach. smart move, too. it's going to get crowded. we are keeping an eye on traffic ahead. and we'll tell you the best time to leave if you haven

facebook stock sliding 9% today, the value of the social networking company is down $40 billion, sinceal public offering last week. the financial industry regulatory authority is looking into the charges that analysts told big clients they slashed the earnings forecast before the company went public. back to greta. >> greta: who is john mccain calling a real american hero. >> sean: it's a prominent democrat. we asked senator mccain about that and much more, earlier today. senator, nice to see you, sir. >> thank you. >> greta: can you tell me why we need to spent $20 million at hhs to support health care? >> it's another job for andy griffith, get him out of retirement and get him to hype hhs. it is symptomatic of this regime, all politics all the time. they are going to spend $20 million to hype obamacare which i think is certainly a task which is daunting. >> greta: it's one thing to implement it -- for it or against it. this is about selling it. we already have it. is there any legitimate reason -- $20 million is not chump change. that's a lot of money. >> part of it is our fault for

>>darya: the social networking company facebook is raising the cost of this ipo up to $34 to $38 per to the high demand. facebook is valued at approximately 100 the in dollars. >>mark: the ceo jamie diamond tried to explain how the company lost a $2 billion. they say in state and j.p. morgan chase problems ourself inflected. investors have been pummeled j.c. -- j.p. morgan stocks. shall the bill that shareholders have affirmed his pay package as well. >>justine: we have learned that the justice department has opened an inquiry and t. j. p. morgan's activities. >>mark: state the up and down toward the started today. -- that third stage of the amgen to or has began to they appeared >>george: afternoon can you through livermore could be connected by the race to date. they'll be heading north on piedmont and lp-roads. they will make the turn onto the policy does road and the north the black hawk are route now diablo all way up to concord and then turning east to contra costa county. it would take mark marsh says creek road all layout to byron. in across 580 can enters the patterson pass.

we will hear from a man behind the world's most popular social networking company. >> just as the facebook ipo is coming, wall street is on a downward spiral. the dow saw its 11th loss in 12 days, dropping 156 points. the nasdaq fell 60 and the s&p lost 20. >> major layoffs for hewlett- packard. reports say the silicon valley company plans to cut as many as 30,000 jobs worldwide. that is about 10 percent of the work force. this is part of a restructuring plan expected to take at least one year. >> he spent seven days injured and alone on the side of the road. but tonight a man that crashed his truck off of highway 101 is alive. that crash happened in south san jose. len ramirez is at valley medical center without police finally found this guy. >> you rarely hear doctors used words like " dracula's ". that is how they describe the survival and recovery of michael sanchez who spent more than one week flat on his back out in the woods after a crash. when michael sanchez arrived at the regional medical center in san jose, doctors say that he was not responsive and seemingly drawing his last br

. >> a company subpoenaed, did it give clients inside information before facebook went public? >> facebook stocks sliding another 9%. the value of the social networking company is down $40 billion. >> the hype around the facebook ipo is like the average facebook profile picture. way sexier than the real thing. >> a new twist in the columbian hooker scandal. >> the agency is claimed they're being made scapegoats for behavior that's long been tolerated. >> the director of the secret service will be testifying before senate homeland security committee. >> obama committee released an ad calling president number one in job creation in colombia. >> turnout expected to be high as egyptians are voting in their first free presidential election. >> a homeowner's lawn becomes a wrestling ring. >> yes, that's the heir to the british throne, getting a lesson in deejaying. >> just his schtick, you know. i say that's why his [ bleep ] got schtuck, you know. >> i think you're wonderful. >> a couple in kansas celebrated their wedding day with a tornado in the backdrop. >> on "cbs this morning." >> dc comics are announcing plans to out one of its major super heroes ne

the mistakes they have made, but this is a company that has at the half strategy. they really are on their way to something. i mean, as a -- an outfit, as a social network that's pushing branding that really wants to get companies to get involved with their -- with the consumer, this is the way to do it right now. i mean, smart companies are not doing what gm did. they're not turning around and saying i can't get one to one advertising because you'll never be able to do that on a social network. it's about brand architecture. they're the best at that. so i know they'll -- they're going to do incredibly well. >> we'll leave it there. richard, thanks for joining us. we'll keep following this. let's bring in cnbc's gary kaminsky here. you made the point earlier that there are shareholders who bought at the open, but they wanted to sell by the close. it looks like that's what we saw materialize today. >> yeah, hey, maria. i think around 2:15 when i was last on air, we made the point that a lot of people were getting execution. they were find ought in the time period what they had actually bought in the 11:30 to 12:00 period and there was tremendous fear on

are partnering with twitter to provide screaming videos of live music concerts on the social networking site. the companysaying which musicians will be featurerred. >>> college bound child is interested in playing sports? the coaches are coming to baltimore. you can meet the football, basketball coaches and also meet with the coaches and the men's and womens track and field teams. it starts at 11:30 in harbor east at the marriott. >>> maryland live casino doesn't open until next month. construction on the venue could affect the state. john leopold along with other developers will make an announcem about road closures. the southbound bw parkway interchange is set to close for one month while work is being completed. more information will be released at 11:00. the grand opening is set for june 6th. the city will provide information about changes to the rec centers. putting together a session at war memorial hall for anyone interested in getting in the center, activating our inner citizen. the city voted to privatize some centers to keep them up and running. >>> virginia man gets a surprise in the mail, pos

the commission said a second request to facebook instructing the social network and company to provide large amounts of data that the regulators will go through to make sure that the deal complies with antitrust laws. for this is telling us that may not be as easy as we all fought. we have all heard the purchase price of $1 billion for instgram. now, because the stock is down, this instgram deal is now only worth nine of the 63 million. it is a lot but it is interesting that it is no longer a billion dollar deal. one expert told me there is a lot of blame to go around. at the heart of it, the stock price was too hot. >> facebook was always a troubled property. the end result is it is becoming more troubles. they rushed it to market. they tried to get a high a price that of the market would bear. and of course the market cut off. >> i wanted to look at anyone else out there, if any other social networks where facebook could be replaced any time soon. >> face of its holding to win approval to expand its council -- campus. freefall wants to hire more people. faced with have agreed to comp

that would value the social networking company up to $96 bui billion. to price on may 17th and trade on the nasdaq on the 18th. starting today, management is going to visit with the lead underwriters. this includes goldman, jpmorgan and morgan stanley to teach them how to sell the facebook brand. the road show starting on monday with a lunch in new york also making stops in other states ending up in california. facebook has posted it road show material in and online video, the company saying mobile is a key area for growth and mark zuckerberg saying he wants to keep facebook free for everyone. also looking at a company called brightcove. revenues rose 53% for brightcove and it's a leading provider of cloud services helping companies publish of course and distribute video and other digital kept. joining us is the ceo. great to have you with us, jeremy. so it was a good first quarter report for the company. what were the strongest pieces and the strongest take away a oig for investors coming out of this earnings report? >> we drew our customer base almost

facebook has already reached record status as the biggest initial public offering in history by an internet company. the deal will raise the social networking giant around $16 billion in proceeds, and value the company at more than $100 billion. of course we'll have much more coming up in business. but first your "first look" at some of the other news going on around america today. >>> in north carolina, an alligator attacked a man who was trying to capture the represent tief along the side of a highway. amazingly the victim was bit in the arm but only suffered minor injuries. he works for an aquarium and was called to the scene after a driver spotted the gator, which was eventually caught. >>> in rhode island, could be a breakthrough for those who are paralyzed. researchers at brown university have just released this video and it shows a robotic arm responding to basic commands given only through a person's thoughts. the robot was able to give the paraplegic patient a bottle to sip from. a device was attached to the woman's brain allowing a computer to decode messages from her mind, and then send them to the robot. >>> a florida couple had

reported that morgan stanley shared a negative revenue outlook with its clients right before the social networking company went public. morgan stanley was the chief underwriter for the ipo and insists it followed all the required procedures. >>> are we about to fall off a fiscal cliff? the congressional budget office says that's exactly what will happen if trillions of dollars in tax hikes and spending cutting take effect as scheduled next year. they say if congress doesn't act, the u.s. economy will be pushed back into recession. that includes letting the bush tax cuts expire, the alternative minimum tax exemption for the middle-class and the trillion dollars of spending cuts and pay cuts for medicare doctors. >>> egypt's future being watched closely by the u.s. and israel this morning. egyptians are heading to the polls right now to elect their first president since the fall of hosni mubarak and the 30 years of dictatorship, it's really the first free elections in the country's 5,000 yeerms of years. >>> we're about to tell you the winner of "dancing with the stars." >> donald and pita! >> i didn't give

the social networking company's stock will start trading on wall street for the first time today, givingar investors a chance to buy in. its initial offering price will be $38 a share. >> there you go. >>> verizon is clarifying how it plans to phase out unlimited data plans for cell phones and tablets. it is basically ending its grandfathering of existing customers. that means customers with unlimited data plans will have to give them up when they buy a new device at a discounted price. now, those are the kind that usually come with the new two- year contract. customers who have unlimited data and choose to buy a phone at full price can keep the unlimited plan. okay. good choice. >>> the u.s. postal service is closing nearly 250 mail processing centers. the postmaster general made the announcement yesterday. he said they are moving forward with cuts because they can no longer wait for congress to agree on a solution. the closings will begin this summer in an effort to save billions of dollars. by 2014 the post office is expected to have cut 28,000 jobs. that's the tough part. >>> 7:26 no

moment and see where the market settles >> one such company, the facebook of russia, has postponed its ipo saying that facebook situation has damaged investors trust in social networks. yammer is a san francisco-based social networking platform, a twitter for businesses. the company recently raised $85 million of new funding. they will not admit to any ipo ambitions. the co-founder says it is business as usual and he still has faith in facebook >> it is obvious that they are creating a lot of long-term value and it was going to be hard to have an ipo that large without bombs. it was impossible to know what would happen but i feel there is still a good long-term investor because they're the gathering place of people around the planet >> most of the company's i talked to said the same thing, it is just too early to worry about it but they are keeping a close watch >> mark zuckerberg might be one of the richest men in the world that he had a problem with money on his italian honeymoon. a news agency shows and going to an atm but the cash did not come out and not because he did not have money but apparently because the machine was broken. the report also said that he di

a view from news chopper 2 shows the excitement in menlo park today as the social networking giant became a trading company. but the stock sagged quickly and some analysts said it started right away with mark zuckerberg ringing the nasdaq opening bell in his hoodie. >> is zuckerberg offended a lot of people that make the market on a stock. you saw most of the folks come out immediately afterward much more negative than they would have. a lot of that negative stuff is what drove this down. >> reporter: if stock was lower than anticipated just a month ago. many traders said it was an accurate price for its value. some investors said their clients had a different attitude. >> i want to make a lot of money but i don't want to lose anything either. so $38, or even $35 not very many people readily willing to put it out there and see what happens. >> reporter: some analysts also say facebook may have created long term problems although zuckerberg made $20 billion before taxes and many el employees became instant millionaires a lot of people who lost money were facebook customers. >> they priced it so facebook cou

talking about the facebook ipo all week long but what about the man behind the world's most popular social networking companyit turns out he was not always a confident ceo. >> that was fraud, write to my face >> you have heard of buyer beware but it seems that sellers should take the same advice. what we found while undercover at a bay area road show. >>

company called opera. all in all you've got some nervous investors, and they are selling the stock. now also hit, facebook social networking cousin zynga. the company has fallen since facebook went public, today dipping 8% to just above $6 a share. janell, these stocks are not for the faifnt heart, and facebook still has a lot of selling out in front of it. >> thanks so much, scott. >> you bet. >>> the fate of suspended san francisco sheriff reasony will be discussed. they are expected to see if any further legal arguments are needed before providing a recommendation about mirkarimi's future. then they will decide whether to remove the embattled sheriff from office. mirkarimi pleaded guilty to a false imprisonment charge in which he admitted to grabbing and bruising her right arm on new year's eve. >> decision 2012 and here we go again. donald trump questioning president obama's birthplace, this while trump and mitt romney are at an event in las vegas tonight. the las vegas fund-raiser comes just a few hours after trump rekindled the birther debate questioning whether mr. obama is an american-born citizen on cnbc this morn

now there is a list of people looking to sue the social networking site and the company responsible. but the big question, who knew about facebook's weaknesses? and who, exactly, did they tell? the lawyers will get into that. six days and the jury in the john edwards is still deciding. what is taking so long? or creates another laptop bag or hires another employee, it's not just good for business, it's good for the entire community. at bank of america, we know the impact that local businesses have on communities. that's why we extended $6.4 billion in needit to small businesses across the country last year. because the more we help them, the more we help make opportunity possible. from a completely different city? tell your fnt door... to lock itself... and secure your home? even check in on your kids... when you can't be there? now you can. with vivint. simple, affordable home automation. vivint received a consumer digest best buy award for their full home automation package. if you're a homeowner, call or click now and see how you can get all of this for a one-time activation fee o

it will be as of the opening trade a company valued more than hewlett-packard and starbucks combined. talk about the power of the social network. and, again, people will get their first chance to buy shares of facebook when the market opens a little later this morning. we'll be regularly with you all day long counting this thing down. i'm live at facebook headquarters at menlo park. back to you guys. >> we'll keep checking in with you, thank you. >>> facebook's right on par with other tech companies in 1980, apple stock went for $22 a share. yahoo back in 1996 went for $24.50 a share. and in 2004, google stock sold for $85 a share. >> what is facebook going to possibly do with all this new money? well, the company's expected to raise some $16 billion on that ipo and one of the largest cash reserves of any nonbank public company. facebook has talked only in broad terms about how they actually might use the cash. but analysts believe it will likely go to buying, building, and hiring more people to continue its dominance in the world of social media. >> we will have continuing coverage of the facebook public offering throughout t

we've had multiple of the social networking companies going public. but on facebook, in specific, i think the six month period of time is like dog years. six months in internet time is like a decade. >> i've got to ask you, what's hot now? what are you investing in now? what's the next thing that people watching now should be buying into? >> we're seeing the first elements of that happening with the whole slump ipo. it's right after 34. linkedin, prior to that, ran up to 120. i don't think it's going to double in value. that would be crazy. but i do think we have other properties in our portfolio. like i said, we had four ipos go public. we had those and then q 2 alone, just now, we had public a few weeks ago. we had 110 different companies still there. it's a storage company that's quite interesting, as well. >> thank you for sparing the time. thank you, sir. >> all right. let's check in with bertha here. bertha, you've got some information on quoting? >> yeah, not yet. you'll start seeing those quotes in just about five minutes, it looks like. they h

the new york times is reporting the now cash flush social networking company had a group of engineers to design and build a new cell phone device. rumors about facebook date back to at least 2010 this latest report anonymous engineer who has been hired for the project. he says the company wants to roll it out next year. >>> entrepreneur caught living at the palo alto offices now has a place of his own. eric simon was trying to get a start up off the ground last fall. he was given $20,000 as part of a tech program at aol. when the program ended and he ran out of money, he decided to stay. the manager finally caught on and simon was kicked out but now venture capitalist has given simon $50,000 in new funding so he's now renting a house also in palo alto. >> bay area remembers fallen service members startling new information on why so many new debts are disabled. >>> and hardy souls their annoys scape from ago quatres. >>> coming up what you can expect for the work week ahead. gap >>> firefighters recovering tonight after helping put out this fire in fremont. the flames were put out in l

the hype. this social networking site launched the largest public offering ever for an internet company. >>> facebook made its debut after its ceo rang the opening bell on the nasdaq from his california headquarters. >> the social network shares opened more than $4 above the initial listing price of $38 before settling back to where it opened. and more than 80 million shares were traded in the first minute of the stock offering. facebook, which was started in a college dorm room eight years ago is valued at more than $100 billion. ed lawrence is outside facebook headquarters in menlo park, california. >> reporter: when you log on to your facebook page from your phone or computer, you won't notice any difference. the party here has subsided at the headquarters, but they issued 421 million shares and employees here seem to be happy with the way the offering went. facebook's california headquarters looked like a party on the day the company went public. after a half hour delay, facebook stock opened in the late morning. more than 80 million shares traded in the first minute. the price moved higher befor

in a regulatory filing today the social networking company says it expects to sell its stock now for tween $34 per share and $38 per share. previously it said $28 to $35. finally, the interior department says active-duty military personnel and their dependents will soon be able to enter every national park for free as part of an effort to thank service members and their families. an annual pass will be made available to members of the military free of charge beginning saturday, which is armed forces day. some of the latest headlines on c-span radio. >> reading has become over the last two or hundred years the ultimate democratic act of the ultimate democratic country, because it makes it possible for the many to teach themselves what a few once held close. the president can " mark twain because he has read huckleberry finn and the postman can understand the reference because he has also read huckleberry finn. although demagoguery is still possible, it requires a lot more cleverness. with careful reading of books and newspapers and now material on the internet, their claws are revealed

the ipo has generated interest but skepticism yesterday general motors pulled its advertising saying facebook wasn't selling cars. plenty of people contend the company is overvalued. others say the social network has changed business for the better. >> facebook is already huge global, obviously, the biggest social network in the world. as they continue to grow which official this ipo will contribute to it will help companies like ours because it will create more users for us. >> reporter: more traffic, more users, facebook announced yesterday they would sell more shares tomorrow 84 million more worth up to 3.2 billion dollars. stay with abc7 news and abc7news.com for complete coverage of facebook's ipo. we will be there live tomorrow morning in menlo park as mark zuckerberg rings the nasdaq opening bell. should be exciting unless you are a resistor, love this, the associated press is using the term this morning for people who are not on the facebook. recent ap/cnbc poll found two out of five american adults have not joined facebook they say they don't have the interest, they don't have the need. they are the resistors. >> and half think it is a fad. we'll see what happens. >>> more news right

the social network's initial public offering will place the company's value at $104 billion.ook is pricing its stock at $38 per share. the ipo will make ceo mark zuckerberg the 29th richest person in the world. and a small share he gave his father as a gift in 2009, well, that will be worth 76 million now. >>> google's self-driving car was on the streets of d.c. today. it's a fully automated vehicle that uses gps, motion sensors, and radar technology to get around. right now it is licensed only in nevada. board 3 council member mary chase is impressed with the car safety record. she hopes it can get approval to operate in the district in the next couple of years. >>> look out for crowds of cyclists as you head in to work in the morning. thousands of d.c. commuters will ditch their cars as part of bike to work day. last year's event brought out about 11,000 cyclists. this year it's expected to be even bigger. organizers say that biking to work reduces pollution and it's good exercise. >>> coming up tonight, an animal expert trying to capture an alligator on the side of a busy

companies are delivering. >> demand is strong for the largest on-line social network. plan to get it billions of dollars from this ipo a lawn. the offering values the company at around $104 billion. >> metro officials say they will keep an the dow passenger service through the end of june. they ask about the current trip where the ryder receives a survey and their destination. nearly 400,000 service are being distributed by the end of the month. they will use the information for planning services and to check the efficiency of the system. >> we will take you flying with the blue angels coming up. >> it should be clear whether for the air show. >> the orioles played a matinee this afternoon before heading to washington. the nationals are getting ready to play the pirates. [ male announcer ] this was how my day began. a little bird told me about a band... ♪ ♪ an old man shared some fish stories... ♪ ♪ oooh, my turn. ♪ ♪ she was in paris but we talked for hours... everyone else buzzed about the band. there's a wireless mind inside all of us. so where to next? ♪ ♪ >> we co

. >> we have the right now and dare i say the responsibility to hold companies accountable on social networks>> corporate america is listening and responding to the good, the bad, and the ugly. >> if i post on delta's facebook page, it's public. >> that's okay with me and that's okay with delta. would we prefer for some tweets to not be out there about us? probably yes, but you know what? in the end, it's all about solving the problem for the customers. >> delta even has its own social media lab to track all those tweets and facebook posts. >> we have monitors throughout. we have everything from the news network there to what is going on in the twitter world. stock, you name it, we have it up on a board. >> american express is also active online and tells us it's important for customers to share their story. >> we want you to share with your 300 followers what a great experience you had with your service and how your issue was resolved immediately. >> a growing number of businesses are shifting to web based customer service. one social media expert tells us that going digital can actually off

. >> we have the right now, and dare i say the responsibility to hold companies accountable on social networksorter: corporate america is responding and listening to the good, the bad, and the ugly. >> if i post a delta page a complaint, it's public. the world is watching. >> that is okay with me and delta. what we prefer is for some tweets not to be out there about us, probably yes. you know what? in the end, it's about solving the problem for the customers. >> reporter: delta even has its own social media lab to track the tweets and facebook posts. >> we have monitors throughout. and we have everything from the news network there is to towhat is going in the twitter world, stock, you name it. we have it on a board. >> reporter: american express is also active online and tells us it's important for customers to share their stories. >> we want to you share with your 300 followers what a great experience you had with your customers and if the issue was resolved immediately. >> reporter: a growing number of businesses are shifting from toll-free numbers to web-based customer service. going digit

the status of facebook c.e.o. mark zuckerberg not looking too rosy right now his company once again facing lawsuits the social network's market launch friday resulted in a sharp share price slump with several investors set to take legal action against the company as well as the banks involved in the flotation let's get the timeline straight from our. a group of investors as launched a class action suit against facebook and several banks now the u.s. securities and exchange commission as well as the financial industry regulatory authority are also looking into a possible fraud on the first day of facebook stock sales last week investors say they lost billions of dollars because the banks which prepared the initial offering price beefed up the price knowing that facebook's latest performance record showed we can grow so the claim is that a select group of participants in this i.p.o. which includes facebook at solvent investment banks like morgan stanley j.p. morgan and goldman sachs drummed up invest the sport over the social network stock in the run up to the i.p.o. put a price tag on it of thirty eight dollars per shar