the trouble at barnes & noble, ceo william lynch resigned, behind the e-book strategy, 34% decline inales of those nook tablets last time round, so basically i think it's a reorganization of the strategy, possibly an exit from that side of business could well be on the cards. >>> credit unions are raising overdraw fees. getting less volume through so they need to raise money somehow. apparently the fees have come up from 25 bucks per overdraft to $28. which is still cheaper than banks which have had a median level of overdraft of $30 per transaction. >> the slurpee is cold, deliciousness, and you have news out of 7-eleven? >> yes. this is very important story, of course, for all viewers. the 11th of july is the unofficial birthday of the slurpee and for years they've been way millions on 11th of july. it's been 7-ounce cups and moms have been upset because they don't have lids and now they'll give away 11-ounce which have lids so they don't spill in the back of the suv. >> july 11th, slurpee giveaway. thank you for the hard news today. >>> still ahead, rex ryan pretty off-season. we'l

reporter: three years ago, barnes & noble made a bet on it's nook e reader bring income a new ceo william lynch to ignite the business. but the nook never caught fire losing $475 million last year and now william lidge is the former ceo of barns and noble. and the company's problems are bigger than just the nook division. sales did drop 34% in the most recent quarter, but sales in the physical stores and website also decreased by 10%. even if barnes & noble gepts rid of it's nook business, the outlook for the company as a stand alone retailer is hazy. amazon and other retailers are tough competition in the book business as people read on kindles and ipads. over the past five years sales at u.s. bookstores have fallen by nearly 3% but the analyst isn't dismissing barnes & noble's retail presence yet saying sales struggled but believes the retailer meets a demand. >> i go in there. take my kids in there to look at games, kids stuff, toys. it's a great store with a lot of traffic. the college bookstore business has a lot of value. >> i'm old-school fashioned. i like the feel of a book. >> i love t

barnes and noble ceo william lynch is resigning. shares fell 2% when the news broke after the close. lincoln ellis of strategic financial group joins us now for a look at the headline stories happening on the trading floor. good morning to you, lincoln. - good morning. - alcoa's earnings are out. does it set any kind of stage for corporate earnings this time around? - tough to say from alcoa, really. they beat on the top- line, but the estimates have been continually ratcheted down - three times, actually - meaning only by a penny there. and they have been in the commodities space, so it's tough to tell. alcoa's never really a great barometer of earnings, but they did beat, so it's an upbeat start to the season. - how much is trading today going to hinge on what is happening with treasury yields? - treasury yield's a big, big issue this week. we have a 3-, 10-, and 30-year auction this week, and we get the fomc minutes. that should a produce a significant amount of volatility. we've been trading between 2.50% and 2.70% on that 10-ye

. >>> barnes & noble says its ceo william lynch has resigned effective immediately. the company has been struggling to gain market share in the tablet and e reader market. >>> fiat is looking to own more of chrysler. fiat already owns more than half of the u.s. automaker. with the remaining stake held by a trust that pays medical bills for retired united autoworkers. meanwhile, fiat is in a hurry to fully merge the two companies so it can benefit from the booming u.s. car market. >>> while chrysler has battled back, the boating business has seen a big turn around, and if a rising tide does lift all boats an improving economy appears to be lifting boat sales. mary thompson has our report. >>> this summer it's estimated 88 million earn manies will hit the water, many of them in new boats. >> we actually are anticipating following this past year, which was up 10% with a 5% growth this year, and hopefully if the weather gets a little better, it will be higher. >> smaller boats leading to surge in sales, carl black well credits higher prices on land. >> the primary reason

and william lynch resigned after an announcement of the loss after the announcement of the ereader. >>> we saw the kick off to the second quarter earnings season as well, and so what did it mean for your money and the markets going forward? joining me, danielle hughes, and bob doll, chief equity strategist. thank you both for joining us. what a week. we are at a record high for the dow jones industrial average and the s&p 500, hitting records this week, after bernanke's words. what did you think of it, bob? >> i think he put the toothpaste back in the tube. he would like to have some of the speeches back where he talked too much. he wants to condition us that he will not buy $80 billion in bonds every month, but he will slow down when the economy is good enough, and he a sured everyone that the economy is not there yet. >> he said the unemployment rate under estimates how bad unemployment did. that gave it away right away. basically saying, look, we are not near the target. it may be difficult for us to begin the end of the stimulus in september. >> i think he had in mind, you know, t

barnes & nobel say nounsing william lynch resigned after three years on the job. barnes & noble is yet name a success successor. >> if you just look at the multiple that must be embedded in our implied valuation on retail it's extremely low. and anybody would tell you that. and what i'll say is, we think retail's going to be an incredible profit driver for the foreseeable future. >> of course, that is the retail part of the business, which is not the concern. the concern is that digital nook business in which mr. lynch was chosen to lead them in to that digital future. it has not happened. they have suffered sfapt losses. far what was anticipated. microsoft owns about 17% of the nook business. my math may be off but you get the basic idea there and the numbers that they came in at implied a very large valuation and none of which, of course, is proved to be true at this point. with the cfo running the company now, running the nook business and president overall of barnes & noble. there's a bid potentially for the overall book business. the old retail book business.

we are watching barnes & noble today, the stock moving higher as william lynch, ceo, is resigning thisons is the nook e-reader is not competitive as a digital division here of barnes & noble. e-reader is not competitive to other tablets and the like, facing intense competition for both books and against the kindle versus amazon. microsoft is actually a minority stake holder in the nook so it's not clear how that's resolved, but we are batching. obviously, the stock jumping, but barnes & noble is disappointed with this. back to you. cheryl: so many disappearing. it is disappointing. nicole, thank you. ♪ the cyber theft pandemic in china leads the pack. >> keith alexander, been in the news for number of other things recently, called it the biggest theft of intellectual property in human history, and we agree with him. however, the exact figure is it's big. we have to do something about it. cheryl: strong words on "markets now" from former director of intelligence admiral dennis blair saying we've got to be incredibly careful. there's a hearing underway on capitol hill during this hour lo

. >>> william lynch at mid--- admitted they failed in the tablet market.es of the e-reader dropped 34% and his successor has not yet been named. >>> fighting crime, catching crooks with the snap of a shutter, they are opening a new app to help them fight crime with pictures. >>> reactions from airline passengers who are flying in and out of fso and seeing the wreckage just lying there in the runway. look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only watch tv in the rooms that had a tv outlet. yeah if we wanted to watch tv someplace else, we'd have to go to my aunt sally's. have you ever sat on a plastic covered couch? [ kids cheering ] you're missing a good game over here. those kids wouldn't have lasted one day in our shoes. [ male announcer ] add a wireless receiver. call to get u-verse tv for just $19 a month with qualifying bundles. . >>> this is a test. . >>> good morning, some foggy condition

his name is william lynch. he stepped down after three years at the helm of the company.ed a quarterly loss of more than $118 million. it's twice the loss from a year ago. sales of the nook fell 34% in the most recent quarter. company shares down 4% on that news. >>> meantime, oracle warren buffett giving away $2 billion in stock going to the gates foundation. he's donating 17.5 million class b shares of berkshire hathaway. they do a number of things focused on alleviating global poverty. back in 2006, buffett signed the giving pledge along with bill and melinda gates and billionaires promising to give away half of their wealth in their lifetime or after their death. buffett is going to give away all of his shares in berkshire hathaway. >> thanks. >> we'll be right back. my name is mike and i quit smoking. chantix... it's a non-nicotine pill. i didn't want nicotine to give up nicotine. [ male announcer ] along with support, chantix (varenicline) is proven to help people quit smoking. [ mike ] when i was taking the chantix, it reduced the urge to smoke. [ male announcer ]

they say ceo william lynch has resigned effective immediately.d a half percent after hours. i would suspect that once this filter is out a little more thoroughly into the marketplace that the stock could be a little more active than this particular move. >> it's one of these situations where when somebody steps down like this there's always that immediate reaction and in most cases to sell selling the stock, the nervousness, why did he step down. the timing becomes part of the issues. people will react before they think. right now the reaction is the selling of the stock. >> wasn't lynch there because of his skills? >> and he was also the architect of the microsoft deal which was important to them. he has a bunch of things going on although i do think it's negative. >> the nook failed to keep up with competitors. that bore out more in the most recent earnings report. you've got the kindall and other devices, the mini ipad, it's hard to keep up the net loss more than doubled in recent periods. things haven't been going well for a while. >> this th

reporter: three years ago, barnes & noble made a bet on it's nook e reader bring income a new ceo william lynchte the business. but the nook never caught fire losing $475 million last year and now william lidge is the former ceo of barns and noble. and the company's problems are bigger than just the nook division. sales did drop 34% in the most recent quarter, but sales in the physical stores and website also decreased by 10%. even if barnes & noble gepts rid of it's nook business, the outlook for the company as a stand alone retailer is hazy. amazon and other retailers are tough competition in the book business as people read on kindles and ipads. over the past five years sales at u.s. bookstores have fallen by nearly 3% but the analyst isn't dismissing barnes & noble's retail presence yet saying sales struggled b

william lynch resigning from barnes & noble after only three years on the job.o yet or announced details on lynch's resignation. the national foreclosure rate was down sharply in may compared to a year ago. there has been roughly 4.4 billion foreclosures nationwide. five the lowe's company merchandising has given it a advantage over its rival. that is the latest from the fox business network. giving you the power to prosper. ♪ tracy: breaking news for you. oil rebounding. closing up $0.39. still way over the $100 mark. ashley: it is indeed. chinese buyers are pouring into the u.s. housing market. buying more expensive homes than any other purchaser. elizabeth mcdonald is here. >> florida is number one. florida, california, arizona and texas. 58% is from foreign buyers. that is huge. they are buying $425,000 homes. that is way above that 276,000 median nationwide. seventys% are cash deals. i want to point out why they are buying in these regions. you will see north carolina, georgia and new york. they are also buying in areas where there are strong suburbs. china

. >> william lynch is the state appointed receiver tasked with getting the city out of the red. >> itsaster that weighs people down. the normal ways of doing business have been removed from the city. we have to raise the optimism level in the city. we have to have people focus on the future rather than the past. >> bidding at 100. >> but the city will focus on the past, at least for the next few days. for cbs this morning, washington. >> we should point out there's charges and some of the pieces in the auction are not authentic. there were items acquired that were not artifacts. they're for decorative purposes and keeping with the time period and focus and in some cases for sale the pu to the public in the gift store but $350 million for one city. >> incredible. >> deep debt. . >>> some say we have >>> some say we have way too much sun right now and heat but a new study warns we're still not getting enough vitamin d. take a look at some of the health risks ahead. that's next on cbs this morning. "cbs this morning." >> announcer: this morning's "eye opener" at 8:00 is sponsored by choi

. >> barnes & noble ceo william lynch resigned as the bookstore chain continues to struggle with thelynch was hired from the home shopping network where he was president of hsn's online business and previously worked for palm. lynch helped expand the digital offering and launched the nook as a competitor to the kindle and apple's ipad, but in the latest quarter, barnes & noble posted a 34% drop in nook sales and announced while it would still make new black and white ereaders, it will farm out manufacturing on the nook color touch screen tablets to a third party. the chairman and founder says the company is reviewing its strategic plan and in february rougeo, who owns a 30% stake said he wanted to buy barnes & noble physical sites but not the nook. microsoft and pierson are minority investors in the nook business and analysts say there is some speculation that either could buy the unit outright. barnes & noble is the largest u.s. bookstore chain with 700 stores. you look at the shares here in early trading overseas, it looks like we're under pressure by 4.75%, but up 2.2% over the la

the book seller last night said ceo william lynch has resigned and the company basically is the lastrick and mortar book store out there, but its biggest problem at this point has been its nook e-reader. it's had a hard time competing with amazon's kindle and apple's ipad. even when people buy physical books, they are buying them cheaper online than in stores. in the latest quarter, barnes and noble lost $120 million. it has no immediate plans to name a new ceo, but investors are cheering their latest decision, wolf? bookstores all over the country that all of us grew up with, all of us love, but they are struggling right now. >> they really are struggling. >> it's too bad that's the nature of the business. stuff changes, but my heart goes out to them, because i still love going to those little bookstores and seeing what's on those shelves. alison, you'll continue to monitor the markets for us, thanks very much. >>> we're waiting for testimony to begin once again in the george zimmerman murder trial. right now, they are going through whether or not there should be an animation, compu

less than 2% below an all-time closing high, meantime news out of barnes & noble, the ceo is out, william lynchling book seller. the nook sales fell 34% the company lost $118 last quarter. >>> credit cardholders you are becoming much more responsible about paying your bills on time, delinquencies on bank issued cards fell to 2.41% in the first quarter, that is the lowest level, folks, they've seen since 1990. >> look at that, we'll take it. poppy thank you so much. >>> finally straight to chad myers in the weather center with what you need to know before you head out the door this morning. >> hot today as you'd expect. that's what you get tuesday, 87 degrees in new york city, 84 for tomorrow and thursday we go all the way to 83. take a look at this. 2,114 planes in the sky already. the reason scary they look so big. the good news is those plaents aren't that big, 2,000 planes in the sky already a busy day for travel, 6,000 planes in the sky by this afternoon. >> amazing. >> chad myers great to see you, thank you. >>> we're at the top of the hour which of course means it is time for the top news

. >> with bank of america and merrill lynch managing director, you are watching the communicators on c-span. >> we want to introduce you to william wake, the media bureau chief of the federal communications commission. get a chance to meet somebody behind the scenes. what is the media bureau and what do you do? >> part of the ,ommission with mixed policy the electronic media, broadcast, television, and the cable industry. >> what of what -- what is one of your issues? >> one of the big issues is the incentive auction, to enable some of the broadcasters to surrender their spectrum voluntarily so it can auction carriers. wire it is something we have never done before. it is taking a lot of activity. >> the professional staff at the media bureau, will it happen in 2014? are you ready for it? >> we are on schedule. it is something the media bureau is doing with the other bureaus. we think we are on schedule. to have the rules adopted this work withblack do you congress closely on those rules and the adoption? >> we work very closely with congress and follow their loss. a proposal we made requires their legislation. we are watching wh

lynch managing directer have been covering the cable industry for years. you are watching ""the communicators." >>> we want to introduce you to william lake. he's the bureau chief, the media bureau chief of the media communication. get to meet somebody behind the scenes. what is the media bureau what do you do? why the part of the commission and recommendation policy on the commission on the electronic media. broadcast radio and television and the cable industry. >> what is one of the issues right now? >> one of the big issue we have what is called the incentive options. an attempt to enable some of the broadcasters to surrender their spectrum voluntarily to it can be auctioned off to the wireless carriers and the broadcasters will share it. >> it's a big project something we have never done before. it's taking a lot of activity. >> the professional staff at the media bureau, is it going happen in 2014? are you ready for it to happen? 2014? >> we are on schedule. it's something that the media bureau is doing with the other bureau. it cuts across the agency. we think we are on schedule. >> do you work with congress very closely? >> we work

barnes and noble ceo william lynch just announced that he is stepping down after three years.for a new job, he was like, "nah, just browsing." [ laughter and applause ] "can i get another water? thanks." this isn't good, you guys. after a disappointing box office turnout, the movie "the lone ranger" is on track to lose $150 million. even the bird on johnny depp's head was like, "i gotta get a better agent. [ laughter ] this is a nightmare. this was my big break." >> steve: it's a ling. [ scattered applause ] did you guys see this? earlier this week, jets coach rex ryan was in spain to take part of the running of the bulls. [ light laughter ] it was a little weird when jets fans showed up with a sign that said "go bulls." [ laughter ] [ scattered applause ] what are you doing? >> steve: that's not good. >> jimmy: what are you doing? hey, check this out. it was just announced that prince william and kate middleton's baby will be called either the prince or princess of cambridge. just depending on how he throws a ball. [ light laughter ] i'd love to throw a ball. a big masquerade