that's cash in exchange for information he had provided concerning the transaction. it was going to be the earnings report dealing with the transaction in february of 2013. liz: your client, was your client buying it, long or short? >> he was going to be long. he didn't go through with the transaction because he was working with the fbi at the time tbut telephone calls leading up to it were clear he was going to go along based on guidance he has received a head of the guidance being given to the marketplace. liz: regarding the outdoors, the two spoke ahead of the earnings release, of course a client. during a recorded phone call, he said he releases it is not great, they beat their numbers slightly. said he would speak with a chief financial officer and would find out if his plan was to raise guidance. we get to the fact both of these gentlemen reasonably knew what was wrong going back to other stocks. how does your relationship start? >> their relationship started on the golf course several years before in 2010, starting casualty enough becoming personal friends and

not contested that the transaction occurred. just for your information, the san francisco police department visits 450 randomly selected stores every 18 months and that is just logistics and funding. and so as far as suspensions assume thating they sell to a minor t goes through the process to the health department and the health director has the legal authority, according to the ordinance, the permit ordinance to suspend the tobacco sales permit and the authority as you know is to suspend for up to 90 days for the first violation which is a pretty rare occurrence as you see from the su pensions that come your way. just a little bit of overview, since 2005, there have been 500 police citations, in the inspections the police department has done in the last 8 years, 481 stores have sold to a minor and have received a pc308 ticket for that violation and then there have been 356 suspensions of licenses for various periods of time as well as appeals that have made their way to the board to this board, a portion of those, that is only

the business the bit cooling ecosystem has a number of different you know moving parts here in the transaction business i guess you could one could say are similar to pay pal in that sense correct somewhat the merchant side of pay pal you know we don't offer any consumer services but what we do is we make it easy for businesses to accept bitcoin as a form of payment i would imagine there's a lot of demand for it there is you know there is a lot of pain out there today and businesses trying to collect payments especially if you're trying to collect a payment over the internet and you're trying to sell a high ticket item you know it's very risky today what bitcoin allows a business to do is accept a payment over the internet from any country on the planet with nearly no risk of fraud and no other payment processor and payment network can do that today so the value proposition is there but it works completely differently then pay pal and credit cards and everything else so none of the existing software the business is how will process between. so that's why we got to work about two years ago in c

the shopping cart. we have worked on transactions, processing systems, they met. how important is it on the web site -- it has to work, and has to work in scale, and all that, but it is not very important, right? what is important is they are trying to deliver information that is personal to you. let's take our favorite banking website. go to the website. you have to log in, right? from that point on, all you see is a transaction processing system, right? it does not actually care who you are. it has no idea who you are. the consumer internet sees " is 200 terabytes. that is all it is. not very big. the challenge is how do you get it. how do you take that information? i hate shopping at home depot, okay? i do not really like going there. however, think about this scenario. what if three weeks ago, i bought tile, and two weeks ago, i bought a faucet, and last week, i bought a sink, and this week, i bought a vanity mirror? what am i doing? probably remodeling my bathroom, right? by the way, they also could know that i have actually spent $10,000 over the past four mo

the deal, the transaction i believe is a win win for the city of san francisco and for the medical center and the center health system. by the name, my name is gerardo. this agreement ruts results in a significantly larger hospital. 120 beds. a significantly smaller hospital. 255 beds. saint luke's hospital will be 25 of all the cpmc. it will continue to provide the level of care with no financial conditions or projections and i think we have solved what was an issue and initiated on the side of the hospital. over and above the on going care obligation of the hospital. the agreement is $90 million for cash benefit and others related to health care, affordable housing and pedestrian safety. that's an overview of the deal and you will hear, i'm going to be to make some acknowledgements an those that negotiated the contract, the development agreement as to specifics. the process was one that i came into with somewhat or some bit of trepdation. i have been involved and know what i know from the board of supervisors from what i read in the newspapers. i was concerned about what it would be lik

and none was received, and there is no fiscal impact to the city and the city is not a party to the transaction, so the item -- the resolution approves for purpose of the tax code the public hearing and the facilitation of the finances on that basis. >> okay. perfect. any other questions? i know that we have some people i believe from the french american school here. you're welcome to speak if you want. i don't think we have any questions per se but you're welcome to take the opportunity. >> thank you. my name is aaron lef veen and the chief officer at the french american school. i want to thank you for the resolution and we will make proves to a vacant and unused property and believe it will be improvements. >> i am here from the school and hoping that you support the resolution. >> thank you very much. seeing no further questions. we don't have a budget analyst report for item three either so at this time we will open it up for public comment. if there are members of the public that wish to comment please step forward. mr. paulson. >> thank you budget and finance. we shall my budget bill we a

. >> that gets taxes paid and the transaction is private. your credit report will not be impacted so what are the rates? between 3% to 10% per month. the housing market keeps taking strides forward. the latest good news is about down payments. since the down turn it's about all but impokt possible to get a loan without putting down at least 20%. here, many lenders were demanding 25%. and that is changing as some are accepting 10% or 5%. often the interest rate will be bumped up or private mortgage insurance must be paid. that does allow consume dwrorz get into the market now. >> identity theft started out as a small time crime but now, it's become big business. justice zeptz the number of programs has grown from a million five years ago to estimated 130 million today. the bad guys figured out it's more lucrative to hack a business to get thousands of ids at once rather than going from computer to computer picking them up. a card number can sell for between $10 to $50 and a no limit american express number on a card can sell for hundreds of do

have to be channeled through licensed firearm dealers and they would have did keep reports of the transactions. senator toomey says nothing in the bill restricts gun ownership by law-abiding citizens. >> this is a genuine compromise. in addition to expanding background checks it includes a number of measures that help to secure second amendment rights of gun owners. >> republican house speaker boehner says it is one thing for two senators to agree but it doesn't predict what the other 98 will decide. >> as i made clear any bill that passes the senate, we are going to review it. in the meantime we will continue to have hearings. we will look at the source violence in our country. >> the n.r.a. says in a statement that expanding background checks at gun shows will not prevent the next shooting. >> the deal sets the stage for a senate debate tomorrow and minority leader harry reid says he wants to schedule a vote as well. of course, president obama is also seeking a ban on assault weapons and high-capacity ammunition magazines. those items appear to have almost only a slim chance of clearing the

tool. >> the dollar is a decent transactionaly, not a good store of value perry constantly being inflated. melissa: but bitcoin is not a better store of value. sterling up and down all the time. >> and i didn't say it is a store of value. a look at it as a transaction. melissa: really quick before you go, the first one is in cyprus and san diego. how did you pick those two locations? because they don't have a lot of common. >> we first announced the machine about a month ago when we are finally ready for the market. cyprus at that time had no banks are atms. we thought we would announce to put one there. melissa: a lot of good attention. thank you for coming on the show. we appreciate your time. up next on "money," you have heard a bull and bear markets. this little guy mightust be the best stock picker out there. stay right there for more. ♪ ♪ melissa: it is time for a little fun with "spare change." joining us today, thank you. >> thank you for getting my name right. melissa: i know. every week. every next week of the back to s

we've done some analysis on the seawall transaction the giants bail park development proposal. and after the tax increment is revised we're looking at 13 i million dollars and estimated 2 had the $5 million leaving $10.5 million we're still figuring out the transit costs for that development. that that $10.5 million will be more than enough to fund munis operating costs to serve the development. we'll get more involved with the sequa before we bring that to you. those are basically streets and sewer in major shore like that park. almost 5 acres. total cost of the infrastructure are over $100 million. and the ports partner which is a subsidy of the giants would initially fund that infrastructure with a compliance of portland vail, developer entity and get repaid. they would do it in phases. they're not talking about building the infrastructure all at once only recognizing that the market will allow a advertisement of the portion of the border site at that time. i want to pause and say have i answered your question about how this is going to work? >> yes. at pier 70 this has got

the transaction gives the exchange operator more exposure to fixed income. join news studio at 7:30 eastern time to talk about it. an interesting bet to be making given that, frankly, there's not a lot of sales in treasuries right now. you have to be speculatively gambling and somehow the fed takes his foot for the private market. also in deal nugs this morning, michael dell is trying to take private, i guess. he's more energized for the future of dell than ever and he claims the company's best days are still ahead. that letter was filed with the s.e.c. and i did ultimately write my column, guys, about this dell situation. >> i saw in this morning. >> after i was previewing -- >> i was going to say, you told -- >> after previewing and practices what would i want to write yesterday, but i've got to a separate conclusion, which is that if michael dell doesn't roll into the blackstone bit, do you believe -- they want to break up my company. i think they're going to hurt the hundred thousand employees. this is not for the hired hand man, this is a founder the. >

that was nicole graham of trade international exchange, a firm that coordinates the transactions. she says 2/3 of small businesses in the u.s. already use organized barter, and the switch to obamacare is pushing employers to offset the cost of typical insurance plans. the u.s. supreme court says airlines must show the actual cost of tickets. airlines were challenging federal rules that taxes and fees must be included in advertised ticket prices. it is a victory for the transportation department, which enacted the rules to reduce consumer confusion. volkswagen & mitsubishi plan to bump up hiring. volkswagen wants to increase its headcount to 600,000 over the next 5 years as it strives to become the world's largest car maker. mitsubishi plans to expand its u.s. operations after selling just 58,000 cars here last year. meanwhile, in japan, sales of mini-mobiles are reaching a record high. a new report says car companies sold 1.57 million mini cars, up 23% from last year. analysts believe it signals a shift in the market with a move away from family-sized vehicles to smaller cars. tesl

have to be channeled through licensed firearm dealers and they would have did keep reports of the transactions. senator toomey says nothing in the bill restricts gun ownership by law-abiding citizens. >> this is a genuine compromise. in addition to expanding background checks it includes a number of measures that help to secure second amendment rights of gun owners. >> republican house speaker boehner says it is one thing for two senators to agree but it doesn't predict what the other 98 will decide. >> as i made clear any bill that passes the senate, we are going to review it. in the meantime we will continue to have hearings. we will look at the source violence in our country. >> the n.r.a. says in a statement that expanding background checks at gun shows will not prevent the next shooting. >> the deal sets the stage for a senate debate tomorrow and minority leader harry reid says he wants to schedule a vote as well. of course, president obama is also seeking a ban on assault weapons and high-capacity ammunition magazines. those items appear to have almost only a slim chance of clearing the

the interest. >> in part these international transactions. so if you think about where you could get bipartisan consensus, i think you could get it on, let's get the rate down to 25%, or is it too high. let's do it is a in a revenue neutral fashion. let's not have individuals have to pay for corporate reform. let's make the corporations do their own reform. and then you get to the tough part, how do you want to handle the international transaction. i think the solution to that slets's have a tax code that matches the rest of the developed world and tax companies largely on what they do in the u.s. leaving their brazilian operations to be taxed by brazil. and then pair that, before mr. johnston steps in with a set of geeky rules called based erosional that he will never get to write another book on international tax-- . >> brown: i'm not going to let him. we're going to end the discussion but we're going to watch care floe to see if this continues on capitol hill as you suggested. douglas holtz-eakin, david cay johnston, thanks very much. >> th

i think in the context of most transactions, the buyer wants to see some pressurizatiappreciat n appreciationthink the buyer and seller is fine with that, but doesn't want to feel as if they mispriced the transaction. i think that the deals that we referenced in the performance and the aftermarket have given people more .more confidence to buy future deals. that's important. >> jackie, you should wrap that and put it on the web. there's a ton of information. >> there's a lot to look at and digest even more in terms of the renaissance report that we saw. i want to add to what you said is that sometimes slow and steady win tess race. a nice pop on that day, but they want to see growth going into the year. >> six months down the road, they don't want to see that the stock is tanking. still to come, we visit commodities corner and get an outlook for pressure metals for the next quarter and beyond. that's next. 's next. it's lots . all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that fa

or the ghost traders i defined it back in the early ninety's is simply counsels that side of the transaction and you have the trap doors open and i used to do this all the time this is why. in hollywood we had i never had that discussion with disney for example they were trying to get me to get the price of their movies at a certain level as part of their propaganda techniques. but here on wall street you simply create prices that are part of an agenda but has nothing to do with free market capitalism it has nothing to do with price discovery it has nothing to do with economics this is stalin ism this is this is this is stalin ism that's traded every single day and it's called new york stock exchange well speaking of stalin ism let's move to the gold crash story the headline from business insiders joe wiesenthal a paper bug as you called them the gold collapse is great news now he notes with great glee about how gleeful all the anti gold people were on twitter and it was like a pack of hyenas very happy when on april twelfth friday april twelfth the markets crashed the gold markets crashed a

system or the ghost traders i defined it back in the early ninety's is simply cancels that side of the transaction and you have the trap doors open and i used to do this all the time this is why. in hollywood we had i remember the discussion with disney for example they were trying to get me to get the price of their movies at a certain level as part of their propaganda techniques. but here on wall street you simply create prices that are part of an agenda but has nothing to do with free market capitalism it has nothing to do with price discovery it has nothing to do with economics this is stalin ism this is this is this is stalin ism that's traded every single day and it's called new york stock exchange well speaking of stalin ism let's move to the gold crash story the headline from business insider joe wiesenthal paper bug as you call him the gold collapse is great news now he notes with great glee about how gleeful all the anti gold people were on twitter and it was like a pack of hyenas very happy when on april twelfth friday april twelfth the markets crashed the gold markets crashed and he sa

after the break a new mall movement just slapped wall street bank stores with a tax of their i speed transactions is gaining steam along activists and most importantly in the u.s. house of representatives on saturday a coalition of groups will march on the white house and the treasury to demand the passage of the so-called robin hood tax we'll speak with one of the organizers of saturday's rally in just a moment. let me let me i want to know why don't you let me ask you a question. here on this network is what we're having a debate we have our knives out. to do this right it's about staying there figuring this story will be and i don't want to talk about the mail and me. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harpur welcome to the big picture. talking about the same story doesn't make it news. no puff pieces i mean tough questions right here. oh the worst you're going to think. why don't you put the. radio in for

after the break a new movement to slap wall street bank stores with a tax of their i speak transactions is gaining steam along activists and most importantly in the u.s. house of representatives on saturday a coalition of groups will march on the white house and the treasury to demand the passage of the so-called robin hood tax we'll speak with one of the organizers of saturday's rally in just a moment. well . it's technology innovations all the developments from around russia. the future are covered. here's mitt romney trying to figure out the name of that thing that we americans call a dog and. i'm sorry i'm just a guy who cares an awful lot about my country you sir are a fool you know what kind of mind their terrorist cells in your neighborhood all want to keep us safe to feature a snuffy on limbaugh and the christian point jews can see through beliefs of others . you know the pope are going to distract us from what you and i should care about because they're profit driven industry that sells a sensationalistic garbage he calls it breaking news i'm having martin and we're going to br

european nations are pursuing in this is also something that used to exist in the united states yeah we had a financial transaction tax for many decades from the early one nine hundred three the sixty's and actually some forty countries have had financial transaction tax and in fact eleven european european union countries just came together to create a regional financial transaction tax in france in particular. in their financial transaction tax is using a portion of the revenue specifically for climate. to confront climate change in developing countries from what i understand we we used to have the stocks you need to define the r.c.c. and other regulatory agencies and we. went well beyond finding those people and we just kind of got rid of the tax and we haven't ever since and since then we've seen kind of this rise of bad behavior on wall street so as we're moving forward to try and implement something like this. the opposition i mean obviously it's coming from wall street but. just how severe is it how do we push back against the well of course there's opposition from wall street and again any time that there