talking about tranche one, tranche two, tranche three, and what i ask is that we need a better way of measuring progress across that continuum of ineffective all the way to independent with adviser, whatever your scales are, either on a district by district basis or some sort of way to communicate progress in the transition. in other words, because you, mr. sedney, you said after the first two, that 50% of the population lives in -- under the control of the afghans which would say that we're done with transition in both tranche one or tranche two and i'm not sure that was accurate. maybe i just misunderstood it. but we need some of the metrics that you're using to show yourselves progress, we need those, too, and any way you can be helpful in that regard, we're open to that. rob and i were over there last week and we had a presentation by the afghan commander on operations over the next several months and his ao that was as professional as anything we would get anywhere else by folks in our uniforms. this guy was very present. maybe it was just the interpreter knew what to do, but i s

to order shares in the retail tranche. and if it's oversubscribed, they have basically a lottery. so it's open, it's transparent, everyone has a chance to get shares. but they don't disrupt the price-setting process. that's a method that has worked well over in the world. the method that has not worked well around the world is to use an auction that's open to everyone, so that everyone has an equal say in setting the price. i don't want to use up too much of my introductory time, but i would be happy to answer questions on that. and the auction method has been used in more than two dozen countries, and they've pretty much all abandoned it, because of huge problems. when i was doing literature searches, or newspaper searches to find out more about various ipo auctions, i learned that good search terms were flop disaster, debacle, catastrophe, calamity. the auction method is one that has blown up in people's faces around the world, which is why countries stopped using it. retail investors should be allowed to participate, bu

, that had different tranches for different investors. it was interest rate tranche, but it violated because we took the same cash flows and i made $10 million in profits because investors were willing to invest more. when i went to imperial, did a mortgage backed bond -- i had a pool of underwater mortgages. i did financing for gap but it was a sale for tax because i wanted to accelerate the tax loss and be able to write that off in my books and it was cheaper financing than deposits. now why might you ask? because i overcollateralized it. if you're overcollateralized one thing you should be under collateralizing something else. the price should go up. it didn't because i was under collateralizing deposits and that's where the regulatory arbitrage comes from. i took that to michael milken and i said you know all those junk bonds you sold us, i'm going to turn them into aaa securities. he was apprehensive at the time, but we did the first collateralized bond obligation which did exactly that. and we'll see later that these techniques are

one and tranche two. maybe i just misunderstood it, but we need some of the metrics you are using to show yourselves progress. we need those, too. anyway you can be helpful in that regard relative to that. rob and i were over there last week and we'd went down to penury district to have a presentation but the afghan commander, operations of the last several that was as professional is anything we would get anywhere else by folks in the uniforms. maybe it is just the interpreter knew what to do. i suspect he was being interpreted correctly. i came out of that meeting very impressed with this guy and the fact that he's going to be in charge here pretty soon. major general townsend, the alp, the numbers we are shown for post-2014 and terms of the numbers of security forces versus the money we will be meeting here in an year out to fund us, the numbers to pay is in the asked event about the international community will have to come up a teacher took on the security forces. but the force number itself, 30,000

we are pleased to get this next tranche of finding. -- funding. that keeps our cash flow healthy so we can keep this work at boeing. -- this work going. we are working daily with the fta to make sure that is moving. we believe we are still on track for early september. another small piece of our funding puzzle is the $61 million high-speed rail connectivity funds. the california transportation commission will be acting on that next week or the week after. i am pleased to note that the staff is recommending full funding by the commission for our share as well as the rest of the region's share. that is a big part of making the northern part of the high-speed rail work. a lot of things moving with central funding. good progress continues. our other big construction is church. we have successfully completed the big shut down, but we do have a number of weekend shutdown starting with the weekend after july 4. one more in july. one or two in august. this will be mostly working from the intersection south towards market streak. -- market street. we shoul

underneath so the options that we have for creating a dedicated bus line in the center require filling the tranche at fillmore and making everything run at the surface. there is the cost to doing this. we are still working on determining whether or not our costs like that can be incorporated into the project because we do also want to be competitive for federal funds. we're going to be going after federal transit administration funds to help us fund the project and we want to be competitive. part of that is the cost effectiveness measure of how much money are you spending per benefit that you are getting from transit. there is a question about whether or not that fill is needed or not to run the project. it would be nice to do it to stitch the community together. we have heard the north and south sides fear filmore have felt divided for a long time and -- near fillmore have filled divided for a long time and wish to be connected. we have benefits beyond transit and we're looking at whether or not we can include this as part of the project. we can definitely include this in our environmental docume

the money should go out or in one day -- in one big tranch. with the other money that will be revolving, it should be enough for the next two fiscal years. what we would propose for the remaining $4 million in proposed budget for loans, we propose to be allocated much differently, to actually hit businesses across a larger spectrum, including grants for compliance construction work and tenant improvement and forgivable loan for tenant improvements where a business stays in operation for between three and five-year spending of love. the other day this businesses that need loans larger than $50,000. we would look for community lenders for that program to find a lender that would hopefully leverage the money and add additional monies for something similar to a revolving door program. forgivable loans and grants, of we've worked with a nonprofit community partner to administer those funds. >> what an example of some that we would like to give funding for that is larger than $50,000? we are obviously not getting those out yet. >> it is the same typ

zivotovsky argued that the statute did not tranch on presidential ground it just gave parents a choice. your argument would be stronger, justi justi justi justice kaygen said, if they were born before 1948. well, justice said, you have to be very old to say palestine. i intervened on behalf of persons aged 64 and over and mindful that next year i will turn 80, god willing. not all that old, i told my youngest colleague. in the past years, lawyers and journalists have paid attention to remarks from the bench, concerning our workload, which some misguided commentators think is too light. should stay with me this weekend and you'll see. justice breyer equipped defensively, i'm not trying to get out of

it's announced what is in each tranche, and everyone is allowed to order shares in the regional tranched if it's over subscribed, there's a lottery. it's open. it's transparent. everyone has a chance to get shares, but they are not just in the price setting process. that's a method that worked well all over the world. the method has not worked well around the world is to use an auction that's open to everyone, but everyone has an equal say in setting the price. i don't want to use up too much of the instruction time, but -- introductory time, but i'm happy to answer questions on that. the method is used in two dozen countries, and they all ended it because of huge problems. when i was doing literature searches for newspaper searches to find out about various ipo auctions, i learned good search terms were flock, disaster, debackble, calamity. the auction method is blown up in people's faces around the world which is why countries stopped using it. retail investors should be allowed to participate, but you have to be very careful about giving major roles in the price setting process. what

features a boulder sitting above the day concrete tranche that viewers can walk through.s designed 40 years ago but it took several years to find the perfect rock in several weeks to transport it. >> brace yourself. this is a dog with a face only a mother could love. he's the winner of the ugliest dog contest. he wins 1,000 bucks, a trophy, and a year's worth of dog cookies. this is not his first crowning achievement. he was the ugliest dog of britain in 2005. he is a diva. >> "do you want to say something about that?" that is a winner. 6:42. >> was so ugly he was cute. a few problems to watch for. .> i'm digging that look what do you think? there is some rain in the forecast. 69 degrees at the good morning! wow. want to start the day with something heart healthy and delicious? you're a talking bee... honey t cheerios has whole grain oats that can help lower cholesterol. and it tastes good? sure does! right... ♪ wow. delicious, right? yeah. it's the honey, it makes it taste so... ♪ well, would you look at the time... what's the rush? be happy. be healthy. oh yeah, this is

by tranche one year after the other. of course you have every stage of the game you have to have haircuts you have to. get to take some money from those who profited from the whole dealing of lending the money to the country i just want to ask you one very final question very brief answer people concerned about german dominance now in europe germany benefiting from this euro crisis are those fears found it just very briefly. we are not heading for a leading role or so we are going to be of course. in many cases where people say they want they want to be led by germany they want leadership they want money and this is the situation we are facing now class peterbilt thank you so much your time really good to hear from the german bundestag thank you for your time thank you. do you live here in moscow it's been revealed seventeen pakistani soldiers were beheaded in a recent cross border raid from afghanistan is one of the blames nato for allowing this latest loss of life to occur as well as the thousands of pakistani deaths s

is politically driven and lucy could face the death penalty in america over publication of a huge tranche of diplomatic and military cables which civilian barest washington. they now have a forty eight thousand one hundred thirty five page f.b.i. file and the statement made in court prosecution apparently manning the next day on monday. under a manager that we are among the objects of the grand jury during the trip now being going in. and there are subpoenas everywhere there and we will come out on public record about how. the grand jury we have received you know. being as mentioned my name. to you people have been detained at u.s. airports by. by u.s. officials variegated by the f.b.i. asked questions about me and my organization are becoming almost. more on this so that said cross i live now to sydney based author in the pentacle commentator bob ellis thank you for talking to us today arundhati you know what i could or promise to this saga sanders asylum request on thursday but it's now friday on that in there's no decision yet now the leadership there has been sympathetic to assad so w

we're in the process of going to 75% of their population in the third tranche that's been announced by president karzai. general allen, i think, makes very clear that we are on the right path towards achieving the goal. that this mission is all about. and most importantly, let me just say this. i had a chance -- i was at brook hospital this week. and i saw a lot of wounded warriors. and i asked them, i asked them, i said, you know, where were you wounded? what happened? how do you feel about the situation there? because they're the ones that probably can speak with a hell of a lot more authority about what's -- how things are going there than almost anybody else. and everyone i talked to said, we're doing better. i feel like security is much better. you know? even though i got wounded. i think our unit was doing a good job. and i see things getting better. and i said to them, i think your sacrifice is worthwhile because everything i see when i go there, everything the chairman sees when he goes there, every time we sit down with general allen and get the report, i think it's clear that

to absorb under the tranche one. so sequestration is going to get bought down, but it's not going away. that's unfortunate because i think that should be the discussion. you know, ultimately in the end, even if congress backs into sequestration, the pentagon will get flexibility. it will never come down to the program project activity level because of the eloquent destruction that's been described up here on the sustaining today. so i've been thinking a lot about what are the solutions. let's get aside from how awful it is. i do think this is consensus that it was pretty ridiculous, and it was a silly bill that passed and it was an awful sophie's choice that was put into place for many members of congress. that is the sequester. so the solutions. i was at bloomberg news conference last week. i heard a lot of members of congress talking about sequestration, like senator mccain, senator levin, norm dicks, congressman welch, a bunch of others. i thought i might hear something new. i wasn't surprised i didn't hear much n

into a knot of a transition to fight tranches. now the concern to me as as you look at the staunchest, easier transition points to a place up front points take place in the end, which to me is counterintuitive to drawing down our forces, having less capability they are, sort of less capability facing a more difficult transition time and then not having a full complement of air in place of nfs. so my concern is does that logically make sense and on the transition is to take place? i got their perspective there. they propose making changes in moving more difficult areas of transition into tranche three, with they are beginning the effort now. that being said, the interesting point is a somewhat different approach as far as the total number of isaf forces after 2014 and a draw down with ansf forces not long after the 350,000. my conversations with defense minister barak is after going to 250,000 after the appointed time at the 2016th will lead a power vacuum and if they are concerned about transitioning to 120,000 people and do some

is a hybrid where they have a tranche of usesgbook hamabook building.ed to order shares in the retail tranche, so is open and transparent, they do not disrupt the price-setting process. that is what works well on around the world. the method that does not work well is to use an option open to everyone so everyone has an equal say in setting the price. i do not want to use too much of my time, but i would be happy to answer questions on that. the auction method has been used in more than two dozen countries, and they have a band did it because of huge problems. when i was doomed literature searches to find more about auctions, i learned that search terms were debacle, catastrophe, calamity. the auction that it is one that has blown up in people's faces a round the world. retail investors should be allowed to participate, but you have to be careful about giving them a major role in the price- setting process. i am neutral on whether the u.s. should require people to get an in eric role to investors. it should be to the hybrid that it with a separate tranc

you have spoken about transition another is a repositioning to put things into tranche three. if you do not achieve the desired results in this transition, whether it is tranche three, four or five, or their contingency plans -- alternative schedules and goals are met and transition doesn't take place smoothly and some of these more challenging areas within afghanistan on the can you give us your perspective is what you see as contingency scenarios and alternate schedules? >> thank you very much. cumbersome, thank you and your colleagues for making the trip to afghanistan to speak with our commanders and troops and also our other partners. at the end of this fighting season when the forces return home at the end of september. general allen and his staff will review what happened over this year as i said in my testimony and as i mr. that you heard out there. this is going to be testing summer for the afghan security forces. they are going to be an elitist never before. we are going to have to evaluate them. at the same time, beginning in just a few weeks, the third transition w

the review and met all the targets and the eu and imf, he's hoping they will release a 4 billion tranchelending. >> it's super important because portugal and ireland are of course the two other countries in addition to greece that have received imf/eu bailouts. so it's super important that they rhee meet these targets. and that was the whole issue with greece. >> and nevertheless, we're seeing-will-given that we're still at 12% levels in portugal, what's your impression here? are they going down the right path or does still a lot more action need to be taken? >> still high compared to what you have out of spain. but nevertheless we are not in dire straits as perhaps greece. so i think probably portugal is a monday issue for now. yes, they have some problems as you highlighted being but not in the limelight. i think eyes are trained on what's happening in spain and to some accident degrees, as well. >> i'm looking at some of the yen levels. do you think we'll see intervention coming through from the japanese? >> i think so. the japanese economy can't get hit any further with the extended

you said we are in tranche 2 now. you expressed concern about more difficult areas being put into the end. there is a real position now. if you do not achieve the desired results in this transition, whether it is tranche 3, 4, or 5, are the contingency plans? other alternative schedules and goals are not met, in transition does not take place in moving these more challenging areas within afghanistan? can you take perspective on what you believe to be contingency samaras and alternate schedules? >> thank you very much to you and your colleagues for making the trip to afghanistan to speak directly with our commanders, troops, and afghan partners. in terms of plans for how we are going to evaluate the success of transition, how we might adjust existing campaign plans, the process we have in place is one where, at the end of this fighting season, including after the remainder of u.s. troop forces are returned home at the end of september, general allen and his staff will review what happened over this year. as i said in m

. >> you buy your position in three tranches at different prices.under water, mark. how long do you anticipate holding on to this? and what is your exit strategy? >> i already sold it. i took my hit. my thesis withdraws wrong. i thought we would get a quick bounce. i was wrong, and when you're wrong, you don't wait, you just get out. so i took a beating and left. >> are you surprised -- i'm sure you're priced that you're wrong, but really the question is, are you surprised that facebook didn't even catch that bounce that you thought it would? >> i really -- you know, it was gambling money to be honest with you. anytime you try to time the market, you get what you deserve, right? sometimes you're right and sometimes you're wrong. in this case i was wrong. i think, you know, the issue with facebook to me, and the reason it was a trade, not an investment is because they put on the 421 million shares. i mean, really what it all comes down to it, stocks that don't pay dividends are just about supply and demand. that was a huge supply. if you look at our

sort of an annual terms of $50 billion chunk coming from the first tranche of the budget control act,87 billion now there is this additional, roughly $500 billion cut that would have been the dod under sequestration. how much of that can you live with or is it not so much the members that they put them, but when the time sequencing msd was discussing earlier, sort of the blind way in which they apply to all accounts? what troubles you the most? at what point if you could rewrite sequestration, how would you do with? >> is that one question? >> cat. >> implicit are those two points i started with. there is an assumption that less money being spent on defense implies less capability and a diminished industrial base. certainly if we just do what we're doing right now and spend less money on it, i think it reasonably follows will have less capability in a less responsive industrial base. the point that i try to consistently make an vendor can see, i don't know she's here today, i'm not bitter day or two ago is there perhaps opportunities now to look at less money to create a different pat

they're asking for it in tran e tranches but if you add up spain's debt-to-gdp ratio it's about 165%bt and so forth. so it's a mess. >> barry, it's bad news but we spoke earlier with jim o'neill from goldman sachs who said europe isn't the only thing driving the globe at this point. he's much more focused and concerned about what's happening in the united states. where do you stand? >> yeah, it's funny, i was in london three weeks ago and went into every meeting and they said things look pretty good in the u.s. from an economic perspective or markets perspective. i said not from where i'm sitting. we're tracking another sub 2% gdp number. the week before last our economist tracking estimate fell from 2.4 to 1.8 for this quarter. i think it's headed further south. i mean inventories boosting gdp in the fourth quarter and first quarter flattened out. auto sales boosted in those quarters have softened and consumption is going to be quite soft this quarter, so we're looking at another really weak gdp report and if you think about the last three years, each year has been the same in the s

then there is about a $50 billion chop coming from the first tranche of the budget control act. now there is this additional roughly $500 bill in cuts that would happen to the part of defense under sequestration. how much of that can you live with? is it not so much the numbers but the time sequencing andy blind weight they apply to all accounts? at what point, if you could rewrite sequestration, how would you do it? >> is that one question? >> yes. perhaps you could focus on the last part. >> implicit in that statement are those two points of started with. there is an assumption that less money being spent on defense implies less capability and a diminished industrial base. certainly if we just do what we are doing right now and spend less money on it, i think it reasonably follows that we will have less capability and a less responsive industrial base. the point i have tried consistently to make is that there are perhaps opportunities now to look at less spending, to create a different pattern of spending, and i often get chided by my peers in the valley, but somehow we are li

governments are expected to send in their first tranche of proposals for the conferences themselves.ll begin to see, i think, in very real terms, what will be the parameters of the conference once these proposals come in from member states after august 3rd and will continue for approximately two years after the conference. we already have an indication of what we will see from the council groups at the conference itself. we've not seen a proposal to bring the day-to-day operations of the internet under u.n. control. these reposal seem to reflect, and i need to be cautious because it is still an unfolding story, these proposals seem to reflect a distinct regulatory issues deriving from the distinct world regions. for example, fraud seems to be a preoccupation in the middle east. in our hemisphere, roaming is a preoccupation. and also, i should say, europe. networks of purity -- network security seems to be a preoccupation coming out of eastern europe. various forms of revenue sharing seems to be a preoccupation coming out of africa. but these are some of the outlines of proposals comi