more to come this hour including wells fargo, moving back to guess what, subprime mortgages. bottoms-up. more states losing restrictions on the sale of booze. what is means for the your state's bottom line and well, yours next. [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute hiusual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ to help you take charge. (voseeker of the sublime.ro. you can sepate runway diculousness.. from fashionhat flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. and ly national isanked highest in car rental customer satisfaction by j.d. power. (natalie) ooooh, i like your style. (vo) so do we, business pro. so do we. go national. go like pro. gerri: cbs made big news recently saying it would stop selling cigarettes, remember that? another vice

just like the general wells fargo is working hard to improve all lives in san francisco we appreciate we are only as healthy as the community we serve so financial health and person health do hand to hand. that's why san francisco is proud to be a support for the volunteer hours. in fact, it was 10 jurors when nancy and allen newsom did their offices and asked four fah are 0 support for the hearts. we said, yes then and we're proud to say we've said, yes every year since (clapping) this year's hearts recipients entire all of us through their exceptional community service and i'm here to kickoff this with the heros who work tirelessly. now our first heart hero tom is the operator of a company family owned full harley da's office in affirming. in 1965 tom was taken to the general while stricken on a motor vehicle. he spent two weeks at the hospital before being transferred to hartford. 8 years later, he organized a toy room as a way to a say thanks to the institution that saved his life. the annual hollywood toy ride each member brings a toy for the families who wouldn't be able to for

. >> he claims wells fargo took it beyond the next stage. how one man turned to consumerwatch when the bank pulled a surprise switch. ,,,,,,,,,, through sunday, save up to $500 on beautyrest and posturepedic. get a sealy queen set for just $399. even get 3 years interest-free financing on tempur-pedic. but hurry, sleep train's presidents' day sale ends sunday. over 400-million dollars ri. kpix 5 reporte >>> someone in the bay area is about to become a whole lot richer. more than 4$00 million richer. len ramirez in milpitas where the lottery commission is waiting for the powerball winner to come forward and his friends. >> that right. all his new very good friends. the own of this convenience mart doesn't know he is a millionaire, he is traveling in india and his son hasn't been able to contact him. the morning media scrum the oversized lotto check and the banners that brag a millionaire was made here. it all fell on the shoulders of [ indiscernible ] who still couldn't believe his father's gas station sold the winning powerball ticket. >> my

scott: wells fargo. angie: topic number twoshake shack. radio shck came out with a vintage ad in the super bowl. it's also closing 500 stores. so can electronics stores rebound? scott: i think they can but it's gonna be a little bit different. and i think this is gonna go back to say the late 80's or early 90's when everybody said that the theaters were gonna go out of business because of home video. it's gonna be a different experience. they're gonna have to charge more for some things and monetize the actual touch and feel of things that people go in there to take a look at. but they will survivejust in a different manner. alan: so they have to reinvent themselves. looking at radio shack stock, it's down to $2. this was a $20 something stock not that long ago. so from a risk management standpointwhat could it do? it could go to zerotrue. but i think here we have seen some bullish diversions meaning it made new lows here january 15th but it did not make new highs of volatility. that's a positive sign. so there is a number of things to loo

but wells fargo had heavy activity in the put area. >> and you were looking at a trade in wells fargo? >> this was the one that was opposite from everything else going on in the market and all of the volatility today. we saw one, big trader sell almost 13,000 put spread. basically what they're doing is they're saying they want to get long wells fargo at 44/45. if you're a "fast money" trader i wouldn't be surprised to see wells fargo trade back up here. guy talked about 2% in the ten-year. if that happens, wells fargo is a name i want to know and own. the only other name i like is prudential. but wells fargo is looking attractive in these sell-off. >> thanks. brian stutland. >>> there should be a screaming buy according to our next guest. let's bring in larry mcdonald, senior director at new edge. this is a contrarian call at this point in time. >> how do you define screaming? >> i have to be careful at the word screaming. the model we have measures the capitulation. that's the key, measuring how deep we are into the panic. the een is close below asset value. that's historically extre

he does his robbing business at the wells fargo bank in silver spring. he robbed the bank on the 21st of january. he robbed it again on the 21st of february. >> sounds like there's a pattern. he must have some bills due on the 22nd or 23rd. >> it makes me not want to go in. >> it's not the 21st yet. >> but still what he decides to change his date. >> where do you think he'll be march 21st. >> maybe right back here making another shot at it. >> the first robbery january 21st he's wearing a colorful athletic jacket. the second robbery, february 21st he's wearing a sports jacket and a sweater. and a fashionable cap. >> seemed like he got a habit, a bad habit. robbing a wells fargo bank. >> surprised they didn't catch him the first time where they would come back and rob hem the second time. >> reporter: after each robbery police waste no time getting to the scene. they talk to witnesses, view security video, trying to track him down. this is what we know so far. the first time he had a note. the second time he had a kitchen knife. he likes to strike between

among them the coo of jpmorgan, and the cfo of wells fargo, according to the wall street journal. all told, bankers sold $26 million in stock in january. the national association of home builders and wells fargo say lousy weather this month has made home builders less confident about the market for new, single-family homes. and as our cover story explains, there's even less good news for recent college graduates---many of them are paying off student loans and are unable to save for a downpayment on a home or condo. it's bad enough that builder confidence as measured by the national association of home builders and wells fargo is down ten points to 46. anything below 50 is considered 'poor" in expected sales and home buyers looking during the next six months. the lowest in nearly a year. much of it due to the worst february weather in years across much of the country. but there's also a lack of first- time buyers from among recent college graduates because many of them are still paying off student loans. "student debt, my loans are almost as much as my rent, which i have to pay eac

. >>> he claims wells fargo went too far. how one man turned to consumer watch when the bank pulled a surprise switch. >>> i'm juliet goodrich at the concord bart station with the latest on the bart train derailment. the front end of the car train still hanging off the track. crews here with a huge crane trying to clear the train car by car. in fact, part of the train right now on a semi. coming up i'll have the latest on how commuters can get around and what went wrong. ,,,,,,,,,, i wish i was made of money. i wish you were too. chances are, you're not made of money. so don't overpay for motorcycle insurance. geico motorcycle. see how much you could save. wristband fit-bit. the company is recalling the "f bit forces" model.. after lots of customers complained ab >>> troubles for the workout fitness wristband fitfit. bit. the company is recalling the fit bit forces model after a lot of customers complained about get ago rash from them. fit bit says it may be due to an allergic reaction to a material in the product. the compan

it happened yesterday afternoon at the wells fargo branch close to city hall. witnesses told police the man is between 5'10" and 6'1" with a thin build. >> the former teacher accused of sending explicit pictures to a boy will make his first appearance in court. police say harland edelman thought he meat 17-year-old boy on social media, sent him inappropriate pictures and planned to meet up with him in a park. the 17-year-old was really an undercover detective. edelman worked at the school district from '95 to 2013, recently at the academy of arts and sciences in diamond heights. >> new details on a woman killed by hayward police officer on tuesday. officials say she was holding a replica handgun when she was shot. investigators say 62-year-old ariel was upset her son had been arrested by pleasanton police. she called the department and they asked police to check on her. when they did, they say she pulled out what they thought was a real gun and threatened them with it. one of the officers opened fire. following the shooting investigators realized the gun was fa

. >>> top home lender wells fargo is cutting 700 mortgage jobs. the move is reportedly in response to slipping demand for the home refinancing market. wells fargo has slashed at least 6900 jobs since july and more cuts are not out of the question. the latest reduction focuses on back office operations where employees process the mortgage operations. >>> for the 13th year in a rodentty theft tops the -- identity theft tops the federal trade commission's list of complaints. it received more than two million complaints in 2013 and 14% of them were related to i.d. theft. americans reported losing more than $1.6 billud last year. other top complaints include debt checks, banks and lenders, and imposter scams. the data breaches are going to start showing up high on list too as part of the i.d. theft mix. >> unbelievable how it happens. like one a week it feels like. >> that's what it's becoming, yeah. >>> doctors treat dozens of patients every day. as patients we go in having an expectation that every tool, glove and surface is relatively germ free you

they were so violent inside the wells fargo bank in west minister just north of denver, this took place last week, that they were holding handguns against the heads of some of the people inside the bank. as many as 40 people, staff and customers. terrified by the incident. it only took two minutes to happen. you can see from the photos they were well disguised and carrying black trash bags to put the cash in, as much as $500,000 is what they got away with. that individual there, police aren't sure if that is a woman or possibly a man. but the two individuals, the manhunt is under way for them. now, they got away from the scene, dumped their car nearby. police wondering whether actually anybody was helping them. these individuals clearly very dangerous. the fbi leading investigators saying these are the concerns. listen. >> we're particularly concerned with the level of violence used by these criminals. and the possibility of them acting again. resulting in serious injury to innocent persons. >> well, they've upped the security at other local banks and financial institutions. will that d

these two right here, they're nicknamed trash talking bandits, targeting a suburban denver wells fargo bank last week. dominic, what's up? >> well, no sighting of them so far since they were last seen on january 21st. it was an extraordinary heist, very violent is what the police are saying it was. they actually held handguns to the heads of some of the 40 clerks. wells fargo branch, in westminster, north of denver. appare apparently, within the space of two minutes, they were able to get across the counter, into the cash vault and run away with bags full of cash. there's been one report as much as half a million dollars taken. the fbi being quiet about the actual sum, for obvious reasons. but these are descriptions we've got. somewhere between 5'8" and 5'10". they think it could be a man and woman. not seen since the robbery. they actually fled the scene in a black jeep cherokee and weren't seen after they got in the vehicle nearby, which means they may have accomplices, but the real concern is of just how heavy handed they were with those weapons and this is what the fbi is assayisay

tune in tomorrow to hear from john sylvia, wells fargo chief econommst at 2 p.m. tomorrow. countdown starts right now. ♪ ♪ liz: bitcoin getting bitten by doubts after one exchange mysteriously shams shut -- slams shut. bitcoin believers rushing to make it legit. a fox business exclusive with matthew melon on why the controversy might just help bitcoin move forward. >>> plus, he helped former treasury secretary hank paulson save the global economy and was bill gross' right-hand man. now neel kashkari running for governor of california, so can he convince voters he's the one to propel the golden state into a new golden age? neel kashkari giving us his pitch in a fox business exclusive. >>> and the person behind one of wall street's most entertaining and longest running mysteries is finally unmasked. we'll tell you who it is and where the elevator will be stopping next. "countdown to the closing bell" starts right now. ♪ ♪ liz: good amp, everybody, i'm liz claman. so glad you're with us for the last hour of trading. one hour to go. the s&p 500 down but not out. still within re

not quite yet but wells fargo is moving that way. the bank is looking for ways to stop its revenue decline as overall mortgage volume has fallen since the subprime bust, banks have lent only to the safest borrowers. if wells fargo loosens even a few of its tight loan requirements, other banks may follow. which could boost demand for homes. >>> toyota is recalling more than 261,000 late-model lexus and toyota vehicles here because of various safety systems that could stop working. these include stability control and anti-lock brake systems in the cars and trucks are all 2012 and '13 models. >>> the united auto workers is trying to build support among workers at the 17-year-old mercedes plant in vance, alabama. union organizers following the same route they used to reach this week's vote among workers at the chattanooga volkswagen plant. that voting ends tonight. the uaw has been working with german unions and the labor management group at mercedes' parent daimler. >>> investors are taking interest in general motors. that is where we b

wells fargo plans to eliminate some jobs. the reductions at wells fargo, america's largest home lender, would come on top of cuts already made in january. those are your top headlines at this hour. >> thank you very much, carol massar. we have gotten the financial results from names such as best buy, jcpenney, macy's, sears. craig johnson has a look. he is the president at consumer growth partners. he has more than two decades of experience. let's start off by getting your thoughts on gap. >> they are both california-based. gap is ok. they had a strong quarter. retail is very soft right now. 1% is not great. 2% is better. they are lagging. they reported a 3%. pretty good result this afternoon. it has been a challenging time in retail. >> let's turn our attention and add to the mix, abercrombie & fitch. >> some stores are still reporting. all of the three a's, the teen retailers, everybody is struggling. the entire sector, which is about 70% female. >> why is it struggling? >> there is a macro rotation out of discretionary to

if you have your money at wells fargo, you probably feel safe. i keep my big wine in my closet on a piece of paper. there will be more and more places in the u.s. that are popping up. market makers for example week that they are willing to start making market and transactions that are about 25 bitcoins or more. this is about apple. they turn away millions of bitcoin. i will be buying a new phone. apple no longer offers the last bitcoin that they had. you have to go and use android or some other ecosystem to use bitcoin on your mobile phone. there are a lot of other places to use bitcoin. there are other places to trade bitcoin. the most buying and trading i have ever mt. gox done is on the streets of new york. isn't that mt. gox is not totally necessary. >> you are talking about trading with a dude on the street. new york is a different marketplace. when do you think we will see exchanges based in the u.s.? somebody will figure out this year, are believed to work the year. new york is taking a stab at it. we are talking about digital currency. bi

if you cannot get your dollars out of wells fargo, you do not blame the dollar. >> it is very rare that that happens. let's talk about the other regulatory issues here. there is no regulation yet been that is continuing to be a problem. -- and there is definitely regulation, new york is moving forward with some regulation that should be coming this year. that is the reason you do not in the u.s.ange right now, and that is the reason i'm not operating at all right now. over time can as you see these regulations evolve you're going to see more secure exchanges, along.- come it isp in mind, that located in japan, so if you have your money and wells fargo, you probably feel safe egos within the zen is states i can keep , as long as itn is not on the apple iphone. there will be more and more places in the u.s. that are popping up as one of our acres s tweeted. anchor about apple, disappointing to see apple turn its back on millions of bitcoin users worldwide. there are a lot of other places , and a lot of other places to use it and traded. all the buying and selling i have ever done has been

now wells fargo is the first bank with the help of the department of housing and urban development as well as the fha that is starting to dip its toe back into what we would have called subprime loans. they are lowering the minimum borrowing fico score to 600. it used to be 640 which most banks see as the cutoff. subprime is a little bit different these days. these are conforming loans so they are not giant loans. these are going to be sold back to the government and they are going to be securitized under ginnie mae. they also meet strict requirements, there are eight rules that if banks have these and a consumer defaults, the consumer can sue the bank and say you shouldn't have lent this to me in the first place. they are being very careful about this. other subprime loans, if you are above the government's price tag for these loans or if you have a high loan to value ratio, banks will actually need to put up a lot more capital to actually -- >> underwrite that kind of loan. >> the rules have gotten so strict for them to actually do this. that's why they haven't been getting in there

wells fargo. are you still there?ee exceptionals when it's describing the probabilities of it being exceptionally low. what are you doing with your money right now? there is a cost to you for pulling the money out and sitting on it. >> yes. obviously before crises occur, nobody's worried about them. and when they change, they change quickly. any crisis you want to look at, they were 50 basis points until all of a sudden, they were 1,000. nobody's going to know about the crisis until it hits. and if you move your money out of a bank, you have to move it somewhere else. and those all have risks. i outlined a few in the making sense web page where i posted this. and they're all tricky. some of them are things like paying ahead your debts, so your debts are lower and your cash is safely with the person you owe money to. but i think more broadly, i want to return for the psychological point here, which is that the volatility of banks and emerging markets, which you noted are correlated, are both being driven by fed policy,

congratulations to all the heros and artists thank you chevron energy solutions and wells fargo and atd pier 39 the lane discover foundation and a web core builders and theanford robertso jean (music) >> herb theatre,open rehearsal. listen to the rehearsal. i think it is fun for them, they see our work process, our discussions, the decisions we make. it is good for us. we kind of behavior little bit when we have people in the audience. msk (music) >> we are rehearsing for our most expensive tour; plus two concerts here. we are proud that the growth of the orchestra, and how it is expanded and it is being accepted. my ambition when i came on as music director here -- it was evident we needed absolutely excellent work. also evident to me that i thought everyone should know that. this was my purpose. and after we opened, which was a spectacular opening concert about five weeks after that the economy completely crashed. my plan -- and i'm absolutely dogmatic about my plans --were delayed slightly. i would say that in this very difficult timefor the arts and everyone, especially the arts, i

congratulations to all the heros and artists thank you chevron energy solutions and wells fargo and atand pier 39 the lane discover foundation and a web core builders and theanford robertso jean (clapping.) >> (speaking foreign language.) >> (clapping.) hello, i'm luke and i'll translate what my friend justice said. we're exist with other students with bay area french schools in welcoming his excellency from the french republic inform san francisco. now may i please present the achieve pro to call charring let (clapping) >> you couldn't have said that better. so french is alive and well in our french american schools and french is in the air with our invite with the french republic of france we're delight to have you here. we're pleased you've brought a delegation i believe the administrators of your government and the elected officials and your ambassadors and advisory. you're in a city of innovation and the french have brought so much here today wear in city hall and your host is mayor ed lee who women's to you to this city hall who has a great deal to talk about the french architect

goldman sachs, morgan stanley, bank of america to my jp morgan chase, citigroup, and wells fargo andge capital, aig, prudential, and met life insurers. here is the example of the hit they would face. assets as of december 31, 2013, 2 point $4 trillion. an estimated tax of 2.7 alien -- billion dollars or 15% of net income. you can understand why the big banks will fight this effort. a very big deal that dave kamp will fight. >> thanks very much. our chief washington correspondent. jpmorgan told investors today that it is cutting more jobs. they are trying to boost profits. for more insight on what this means i am joined by david konrad, the managing director and head of u.s. bank research at macquarie group and joining me here, keri geiger who covers the banking industry. tell us the news, what did jpmorgan say? >> jpmorgan seems to be very optimistic that over the next four to years they can increase profits. about 50%, which would be about $27 billion. within the industry that would be pretty significant. keep in mind that they will have to cut about 8000 jobs this year in the mortg

partners and new partners who have helped us to wuf in those events chevron energy solutions and wells fargo (clapping) at&t intel and pg&e pier 39 and stan will i organization and webb core (clapping) the brim key foundation and macy's and keying and candy robertson and a union bank and unit health and walgreen's (clapping) a enlightenment thank you goes to fidel and bone american people at the time management for fine foods he produces a thousand meals at the same time it's amazing (clapping) we want to thank the families for their lines and the san francisco giants for their participating in sponsoring those events (clapping) thanks to at&t and ebay for dpoot the technology for credit cards donation on site today and finally, all the staff and hardworking committee members at the foundation. with all the staff at the general those are our real heros all the staff at general will you please stand. fo folks (clapping) so at aboutly lead by the susan carlyle who is the usf dean and carlos and we even have here today, our former ceo at the hospital jean o'connell (clapping) now here's some pe

that in special terms of naming the controversy over the decision to continue to (inaudible) of wells fargo as well as other decisions what was the concern. >> sure. sure. given that my my name is name is on the front of the bill i have to take responsibility. but the reason i believe and my sponsor buildings it shouldn't be in the bill it attracts all the kinds of questions and it's not about the special trustee it was placed there by the chancellor. i'm not here to comment about that with regards to the funding stabilization it wasful there are for the purpose of not attracting the attention this is about funding stabilization >> (inaudible) and the funding. >> i can let the chandler speak to that. >> this spring we're about 16 percent down from where we were last spring. when you look at that in terms of dollars and cents it probably means something like 23 to $26 million in less funding than perhaps what we have today because of the current stabilization. as you can quickly grasp this is an extraordinarily amount of income that will be taken off the table and not help the institution to

you madlyly marry let me tell you about our sponsors our perfecting swell and the mary foundation wells fargo bank pg&e and intel. to chevron energy solutions at&t and ma can your top to the stanley lange discover foundation to jean and stanford and robison and pier 49 you walgreen's you blow my mind put your hands together and give them a sign to show that we appreciate all of their time. ♪ ♪ ♪ ♪ ♪ now here's to our heros you know their tops like sweet thomas perkins who owns his own motor vehicle shop he always delivers everything that he's got especially, when it comes to delivering toys to the to the. then there's san joaquin barney she's a dream the sfgh gardener making the grounds like pristine even with the water shortage we can relax for a while seems like everything just grows with one glimpse of her symmetric and, of course, dear joe distracting once he was down but then something happened to turn his life all around. he is now changing lives of people i conversation because was sfgh is wrap around success because their winners and it is i we adore put your hands together now winner

congratulations to all the heros and artists thank you chevron energy solutions and wells fargo and atd pier 39 the lane discover foundation and a web core builders and theanford robertso jean >> here we are at the embarcadero. we are standing at one of locations for the street artists. can you tell me about this particular location, the program? >> this location is very significant. this was the very first and only location granted by the board of supervisors for the street artist when the program began in 1972. how does a person become a street artist? there are two major tenants. you must make the work yourself and you must sell the work yourself. a street artist, the license, then submitting the work to a committee of artists. this committee actually watches them make the work in front of them so that we can verify that it is all their own work. >> what happened during the holiday to make this an exciting location? >> this would be a magic time of year. you would probably see this place is jammed with street artists. as the no, there is a lottery held at 6 in the morning. that is h

it took them just two minutes to steal the cash from the wells fargo bank in west mintster.ash bags to take the cash away. they used foul and abusive language to the 40 or so staff or customers inside the bank and holding handguns to their head as they made away with the with the cash. they had distinctive clothing on them. they are not too sure whether these are two men or perhaps a man and a woman. the fbi saying that they are very concerned about what these two could do next. take a listen to what the lead investigator has to say about that. >> we are particularly concerned with the level of violence used by these criminals and the possibility of them acting again resulting in serious injury to innocent persons. >> they made their get away in a 1992 black chief cherokee. that was abandoned nearby. the fbi wondered if perhaps other individuals helped them in the getaway. wells fargo offering $35,000 for information that confirms the identification of these two individuals and leads to a successful prosecution. the police also putting up an additional $2,000. back to you. >

. >> police are looking for the help in identifying a man would held up a wells fargo bank in fremont yesterday afternoon. the robbery happened afternoon at the wells fargo with employees saying this man entered the bank and handed over a letter demanding cash and the suspect was able to get away with undisclosed amount of cash describeeding a black man in his early 30's. >> jackie speier is gather up for the big fight on capitol hill involving the growing economic inequality hurting the middle class and researching including spending a night in a homeless shelter on friday. the democrat says that she met people at the shelter who have had long years before losing their jobs. she said every member of congress should meet homeless so they can appreciate who they talking about rather than just rattling off numbers. >> the san francisco planning commission has approved apple plan for landmark store on union square. a glass wall with 44' high sliding glass doors is a fee too of the store planned which is two stories tall, not three, and the fountain designed by the late san francisco arti

--hispanic sholarship fund y wells fargo ofrecen un taller bilingue para asesorar a los estudiantes yuniversidad. --este evento se realizar maÑana, sabado 22 de febrero entre las 8 de la maÑana y 3 de la tarde en el centro de conferencias "seven hills" de la universidad estatal de san francisco en el 800 font boulevard. --el estacionamien to ser gratis. cesar ---ahora pasamos con javier castro.... blanca ---que nos tiene el pronostico del tiempo para el fin de semana... javier... take pkg take pkg juanfra live cue ---ahora llegamos al deportivo con juan francisco ramirez... cue ---buenas tardes juan francisco... jf ---cesar blanca buenas tardes, amigos en casa feliz viernes y muy buenas tardes.... miguel herrera ya de regreso a mexico despues de asistir a los talleres de logistica mundialista que ofrece la 'fifa' hablo de la charla que tuvo con luis felipe scolari y tambien sobre los porteros convocados para el proximo partido de preparacion... take sot --recordemos que para esta convocatoria los porteros --recordemos que para esta convocatoria los porteros son memo ochoa quien buscar

wells fargo is in the process right now of trying to supposedly offload some servers into an on-deckpany. a big issue regulation. >> i was talking to adam earlier about this. don't come back until you fix i had in real estate. it is insane. >> we can't afford it. >> it is insane. we will be back with more. "bloomberg surveillance." ♪ >> this is "bloomberg surveillance." i am scarlet fu, here with tom keene and adam johnson. let's give you company news, starting with societe generale. 400french bank is posting $89 million in fourth-quarter profit, almost double what analysts had been looking for. the consumer banking business was strong last quarter, with earnings climbing 11%. heineken said that sales should pick up this year after a drop in 2013.2013. the critic that volume will increase as the markets credit -- they predict that volume will increase at the markets gradually recover. it was hurt by what they called delayed economic recoveries in mexico and nigeria. this came out earlier in the our -- deere says that earnings would be better than forecast because of sales of forreste

wells fargo is cutting 700 mortgage jobs, many of the layoffs are at bank's minneapolis and des moineslls fargo has cut 6900 mortgage workers since july. >>> ebay founder is blasting investor carl icahn for making false and misleading attacks about the company. he sent two letters to shareholders complaining about the conduct of board members, john donahoe and. >>> mcdonald's is expanding build your own burger test. they launched the concept at single california location, offering tablets for customers to use to select bun, cheese, choices. that option is bringing in more customers and more dinner traffic. that is the latest from the fox business network, giving you the power to prosper. adam: legendary financier and major gop donor ken langone is leading pack of republicans calling for re-election of the democratic governor andrew como, chairing a committee for his re-election. is the billionaire selling out and rest of wall street following him. charlie gasparino has that. >> group is called republicans for como. headed by a guy named mike mckeen, lobbiest in washington, new york. us

wells fargo having 700 mortgage jobs, wells fargo has cut 50,000 mortgage workers since july.ld your own burger test, the fast-food giant launched to single california location. and topping shoelaces, mcdonald says the move is bringing in new customers. that is the latest from the fox business network giving you the power to prosper. money will be right back. there's this kid. coach calls her a teamlayer. she's kind special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, right where it needs to be. coach calls it logistics. he's a great passer. dependable. a nning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. liz: money has been flying the around the world today starting in scotland where lawmakers are trying to convince the public that a minimum wage would hurt jobs and the economy. swiss voters will vote on a proposal to impose minimum wage of $25 an hour. if it happens it would be the highest minimum wage in the world. se

. >>> i like one of big bank, wells fargo corporation. i own it. >> instead of complaining about the money in sports, why not try to profit from it. msg, i'm considering it for my fund at capitalist.com. >> thanks for joining us from super bowl boulevard. >> now 48 years later the same 38 sekcond spotlight like this one going viral. this shows the advertising of a free mart company willing to pay the price to sell you their products. you can enjoy american capitalism working at its very best. have a great weekend. thank you u for watching. >> here be loved to things. america. freedom. football. and math. that is why it we hve commercials live guacamole why we will study the greatness. we are the independents. >> i am kennedy and also matt welch. [laughter] and you look gre i

. >>> and police looking for a man that got away with robbing a wells fargo in fremont.is man handed an bro a note demanding money. the employee complied and the plan took off. they searched the area and they could not find him. this happened yesterday close to city hall. witnesses say the man is between 5'10" and 6'1" with a thin build. >>> most of us are pretty annoyed by junk mail, but probably not as much as a bay area woman that got a very insulting piece of mail. look at who this is addressed to. he said she was shocked when she received this piece of mail. she thinks the data entry person did this, but does not understand how it got through the system. they flag for certain words, but this slipped through. >> a kill switch for smart phones statewide. a new bill making rounds at the capital. >> a very fond farewell for the host. how he went out in style. . >>> welcome back, 11:12 right now. about an hour ago, local lawmakers outlined a proposal to help with smart phone thefts. >> they're talking about kill switches, christie smith. >>> yes, it's a real hassle when

they have been choosing wells fargo a lot in the last year.king activity was up 4.7% last year. our loan volume on an annualized basis in the fourth quarter was up 7%, much greater than underlying gdp. we're fine with any sort of competition. >> if there were no overt regulation, extra regulation, however you want to describe it since the financial crisis, what do you think that loan growth figure would look like? would it change materially or is this an issue where you could do more if regulators would let you or that just reflects the business and demand for loans in this country? >> there's no question that the changes in regulation that we've seen have had some impact on loan demand, but it's a demand issue. it's not a supply issue. and so from our perspective, do we have a lot of regulations? yes, we do. does it make the business a little bit more complicated than it has been? it does. but i don't think that it's significantly impacting loan demand today. >> speaking of regulators, new york financial regulators put the kibosh on a multibi

there is a reward by wells fargo of $35,000.ice adding an additional 2,000 for identification of the individuals and arrests and prosecution before they hand that award out. >> i'm sure you can report anything you know anonymously. thanks for the report, dominick. >>> most of you heard by now there is a big football game going on tomorrow. the super bowl. amid all the hoopla over what takes place on the gridiron though, there are players in the nfl who also invest their time, talent and treasure to help people off the field. buffalo bills' linebacker arthur moats is the recipient of the waller peyton man of the year award for invaluable service to the community and worldwide spokesperson for the united way. he joins us to discuss how he is helping others live their life beyond the dream and help them achieve. good to have you with us today. >> appreciate you having me on. >> i'm honored. tell me what you're doing for united way. >> what we are doing is the united way team nfl playoff challenge. the goal is to raise volunteerism

they will be able to pay off a debt with wells fargo. it is getting a loan from a firm.hain with 21 stores filed for bankruptcy in july of last year. >>> people who use google maps will notice changes. the company says its new version will offer more detailed search results on the map. for example if you are looking for a cafe, you will see reviews on the screen. and users will be able to search directions for multiple destinations instead of just a start and end point. >> very cool. >>> police dogs are brought in to do a final security sweep before the golden state warriors game and we go inside to show you how the protocols are put in place for nba games there. [ male announcer ] value is always served up fresh at subway and this february, the crowd favorite meatball marinara is our featured $5 footlong. top it with melty mozzarella, green peppers or any of your favorites, on your choice of freshly baked bread. subway. eat fresh. on your choice of freshly baked bread. so yso you can happily let the grlife get in the way, while planning for tomorrow. so you can finish t

. >>> i like one of big bank, wells fargo corporation.ng about the money in sports, why not try to profit from it. msg, i'm considering it for my fund at capitalist.com. >> thanks for joining us from super bowl boulevard. >> now 48 yea later the same 38 sekcond spotlight like this one going viral. this shows the advertising of a free market company willg to pay the price to sell you their products. you can enjoy american pitalism working at its very best. have a great weekend. >> female announcer: the following program is brought to you by nopalea, the original anti-inflammatory wellness drink from trivita. stay tuned to learn how you can experience the amazing wellness benefits of nopalea and receive an introductory bottle free. >> male announcer: you've earned it. these should be the best years of your life. but if you suffer from unhealthy conditions caused by inflammation, you could have high levels of c-reactive protein in your blood. c-reactive protein is a bio-marker in the bloodstream used by medical doctors to determine the body'

whether risk is back in vogue with jonathan gallom and scott wren, senior equities strategist at wells fargo advisors. jonathan, is the correction over? >> i think it is. ultimately, the earnings story which is really what needs to be driving the market is coming in great this earnings season. eps will be up something like 9.5%. the vix which shot up to 22 is back down below 15. you have to like the whole mix of news flow. >> scott? you agree? >> i don't, bill. i hope it's not over and the reason i say that is because retail investors not just our investors here at wells fargo investors but retail investors as a whole are way underinvested in the stock market. we have been trying to encourage clients to buy on any pull-backs. in 2012, we had a couple nice ones. last year, we really didn't. i was hoping this would be, maybe we would see the s&p down near 1700, something like that. i think we will see some more volatility. i don't think the correction's over. but saying that, any pull-back is an opportunity to put money to work. that's what we want our clients doing. >> but you know how it wor

chris harvey, the director of discipline portfolio strategies at wells fargo securities.hat eight missed to go before the closing bell. -- eight minutes to go before the closing bell. >> still fairly low is when you put it all into perspective. >> compared what we saw in 2008. >> coming up next, a retailer launching a new women's line. ♪ up 82 points. street smart is heading into the close. a better day for the dow after yesterday possibly hundred 26 drop. time for your top 10. take two. dropping nine percent as it is forecast. they also posted a third-quarter be held by sales of grandpa thought of five. >> that is matt miller's favorite game. percent.nearly three the firm is raising the stocks. that will happen later this year. bank returns for held -- helped by higher earnings. lower legal costs. >> the owner of kfc and taco bell posting fourth-quarter profits. growth in emerging markets as well as russia and france help bounce out sales in china. >> let's talk about zynga, more than two percent, and analyst raises his price target. raises his price target to six dollar

. >>> i like one of big bank, wells fargo corporation.wn it. >> instead of complaining about the money in sports, why not try to profit from it. msg, i'm considering it for my fund at capitalist.com. >> thanks for joining us from super bowl boulevard. >> now 48 years later the same 38 sekcond spotlight like this one going viral. this shows the advertising of a free market company willing to pay the price to sell you their products. you can enjoy american capitalism working at its very best. have a great weekend. >>> state is set for super bowl xlviii where just a little more than 48 hours away from what could be the chilliest super bowl ever. you can bet this game is still a hot ticket. >>> with thousands of people set to attend the big super bowl event, security remains very tight with concerns over possible terror threats. the biggest concern, possible concerns to mass transit. we'll talk with security expert michael kay. >>> cindy mccain will be joining us to tell us about the dark side of big sporting event, human trafficking.