the news of zillow acquiring trulia said the shares up for went up less than 1% for zillow. tells mef blackberry right now his company has no buyout offers on the table. he pins the chance of a successful turnaround in terms of adding value at greater than 80%. former republican vice president candidate sarah palin has launched her own online tv network. the sarah palin channel will cost about $10 a month and offer news, video chats, and behind the scene video. founderspeak with the that help launched the channel. to our lead story of the day -- online real estate rivals the low and are joining foist -- are joining forces. 3.5 billion for dollars in an all stock transaction. the sites will continue to operate under their current names, so they are not combining brands. both sites allow house hunters to find information on homes, rentals and generate revenue by selling ads, particularly to real estate agents. trulia are soaring in stakeholders in the low are not acting up happy. alexjohnson is here as is sherman who helped break this story last week. what are you hearing now

zillow has none of these. to show every house for sale in a given neighborhood has been a troubling one for zillow and i have been buying this data from third-party vendors. by biting trulia, they get a leg up in dozens of places and say they are well on our way and will add a bunch of the merger goes through. >> i wonder what this zillow-trulia megamerger means for other players in this space. what does it mean for them? >> those are different businesses -- one is a brokerage in a listing service. they have their own listings, but they don't pretend to show you every listing out there. trulia and zillow duper tend to show you everything out there. having things like condÉ nast or time warner, a lot of places were the same advertisers might have to buy ads, that is what the grand vision here is. they achieve some economies of scale and are talking about cost cuts in the next two years but they also get the benefit of having a lot of market share. >> what does it mean for users? the user experience on these sit

zillow has none of these. to show every house for sale in a given neighborhood has been troubling for zillow. you can be in a neighborhood standing in front of house for sale, looking at zillow and not see it. but by biting -- five by eating , they getg trulia access to that. >> what does the mega merger to other players in this space customer they all do slightly different things but companies -- what does it mean for them? >> red tin is a broker and not a listing service. they don't pretend to show you every listing out there. and zillow pretend to show you every listing and attendance -- it's an interesting notion that it collective of media properties like condÉ nast or time warner where you have lots of different races were the same advertisers have to buy ads, that is what this renovation is. they are talking about $100 million in cost cuts over the next two years but they also get the benefit of having a lot of market share. >> what does it need for users? -- what does it mean for users? the users of th

we see zillow down a bit. >> zillow ran up so much, such an open secret, those who have used zillow,wo zillows, the zillow in the rest of the country and the zillow that didn't work in new york, bought a listing system in new york and zillow came on strong. speak to the big real estate companies that are public, they've embraced zillow. initially they wanted to put zillow out of business. they have no choice. this is one very expensive on earning stock. it's now up there in the pantheon of stocks almost like yes, tesla, almost like twitter, hard to value now. but it is become overnight -- it's not a monopoly. >> .444 shares of zillow, implied price -- this hit not long ago. i don't know if you've had time to do the math in terms of a multiple here, i have not. >> when i was getting may up, i know it seems natural. >> never. nobody would know. 100 million in annualized cost 2016. >> baby steps. >> that's a ways away. >> another story keep both brands and flint will report to rascoff. >> trulia site was kind of leapfrog zillow's one time, zillow came back. these companies are really fa

zillow, street easy and hot pads. and we think by adding the trulia brand to our family of brands, we can grow our brand all that much more. we couldn't be more excited about the trulia brand. this is something that a lot of other online media companies have done, whether it's the weather company that operates weather.com and weather underground and intellicast and expedia and hotwire. it allows you to be more relevant to more consumers and a larger audience and that, in turn, helps with your ability to help advertisers reach that audience. >> spencer, you and trulia basically created this market nine years ago when the company started. now both sides account for some 61% of online real estate traffic. i'm wondering, do you think that there will be any competition concerns, or do you think that ultimately this will be seen as a good deal for consumers, too? >> well, i don't expect regulatory issues for the following reasons. first of all, the consumer audience is incredibly fragmented. every local city has tens of tho

we will have the zillow ceo.eed to by his number one rival. ♪ >> live from bloomberg's a headquarters in new york, this is "market makers." off.ik schatzker is when the transactions of the day is presumed. revolutionizedia how we buy houses and they have merged. trulia.ehurt justtrul spencer is with this. he joins us from seattle. congratulations on this transaction. when you reach critical mass? you are at a couple of years. you have $800 million in revenue. when do you get to critical mass? >> thank you for having me. it is very early. i know we are not there yet. real estate professionals spend $12 billion on advertising. we have a long way to go to achieve what we consider to be our ambition. we want to sell more media and .oftware tools and > >> aren't you capturing all the online advertising dollars? i have no idea who is on third. >> there is a lot of fragmentation of the space. most real estate advertising occurs off-line. this would be newspapers and outside advertising. long of it goes to a very trail o

real estate website zillow is looking to acquire its smaller rival, trulia.n agreement could be announced next week, or talks could collapse. if they combine, it could face antitrust scrutiny. that combined 85 million unique visitors in june, accounting for 89% of all traffic to the top 15 real estate websites. is the deal a win for both businesses and how would it impact consumers question mark cory johnson is back with us. and joining us is taylor glass , the cofounder of an online platform for homes and apartments. thank you for joining us. >> when we spoke last time, zillow had acquired a much smaller company. they've been on acquisitions or he. let's not forget it was the number one search platform in new york city, which is the biggest real estate market in the country. what is happening now is zillow is looking to become the de facto search platform and rentals and sales and trulia is their main competitor. they have the opportunity to do something here, so they can address the company and looks like it will -- >> they say the deal would be about $2 bi

and two thirds of zillow visitors don't visit trulia. >> zillow first approached trulia about a merger six weeks ago. both businesses expect the deal to clear regulators. the companies have very similar business models. they generate the majority of revenue from online advertising. >> the combined company is going to have a lot of advantages. there will be one platform. >> an estimated 90% of americans now begin their home searches online. zillow and trulia's revenue is 4% of the estimate $12 billion. experts say there's plenty of room for the company to grow. it could even streamline the search process for viewers. >> there are risks. one will be making sure distill low can develop stronger relationships with real estate brokers rather than alienate them. another issue? the deal could make it harder for smaller companies to compete in this space. for nightly business report, i'm morgan brennen. >>> still ahead, how long will funding for medicare and social security last. we have the details coming up. >>> trustees who oversee the financial health of the government's two benefit progra

zillow and trulia compete ed fo years. two largest sites. this is an all stock deal that breaks down to equivalent of $70.53 per share for trulia which is why you see shares jump or a 25% premium based on last friday's closing price. zillow shareholders own two-thirds of the company. trulia shareholders the rest. zillow ceo says trulia will continue to operate as its own brand kpcatering to homeowners d retailers. >> it's very helpful to have multiple brands to appeal to a larger audience and i think trulia brand complements zillow brand very well. the overall stats, fewer than half of trulia's visitors visit zillow. it's a differentiated audience already. >> analysts i spoke to said this deal makes sense because the companies have similar business models. both are media companies that focus on real estate and they generate revenue from online ads. this wouldn't be cannibalizing each other's online traffic. they could wield better pricing power and the deal is expected to close next year. despite lack of competition it would create within th

>> so, about half of trullia's visitors never go to zillow and two-thirds of zillow's visits over inis good for our advertisers because it means advertisers can reach a larger audience by working with one company in multiple brands. >> when i see mergers like yours and with the dollar guys, they must be reading something in the tea leaves, either it's time to baton down the hatches or consolidate in like fields because something is coming down to the pike or fear something is. is that the case? >> in our case, the way we look at it, we evaluate, would we rather own all of zillow or rather open two-thirds of the combined companies? and i think it's better for zillow share olders to have two-thirds of two companies. i think together, this company will be much more successful tan apart so owning two-thirds of the combined company will be a much better outcome 10, 15 years from now in termed of shareholder value than owning 100% of zillow. >> that's talk about the housing industry and concerns that things are hiccupping and buyers are having a case of standing back or not being accepted

zillow and trillia in these are two online business behemoths. civil -- stuart varney spoke with zillow ceo spencer rahs cough earlier today, and he asked him to define the business. >> zillow and trillia together have 4% of what real estate officials spend on advertising each year. we're a media company, we sell ads, not houses. so we're not a brokerage. we have a great web site in mobile apps. liz: you want to see what these stocks are doing? jumping 9%. it is -- 19%, it is, of course, being acquired by zillow which is up 3%, so both are having a pretty decent day today. now, of course, will today's frenzy lead the markets back into record territory? look at what's happening now. just about 45 minutes the dow was the only index that could barely see green. traders at the new york stock exchange, cme group. ben willis, suddenly we've got dow, nasdaq, s&p -- well, the nasdaq barely higher, but nonetheless, this market appears to be extremely resilient. do you want to stand in the way of the bulls and bet against it? >> i would never stand in the

how about zillow buying trul owe? i have liked zillow for a while now. zillow was somehow loses traction or falling apart or about to fall because there were so much insider selling. i had to rebut that point by point for more than 100 bucks of upside. i liked zillow because it answered every one of my objection, whether it's the shoddy service in new york. it bought the much better street easy or being a slave, but created one of the best mobile desktops out there or it went over the big firms, thanks to some terrific returns on investment. in ads placed by individual brokers. but my biggest worry when we sat down with ceo spencer ascot this spring, where the company is headquartered, was the need to ratchet up ad spending because the competitor had committed to spending fen -- tens of millions of dollars on ads to take share from zillow. after acknowledging that it was good for his business, spencer said he could spend money in each market and that it would go to the biggest circulation player. he put it this way. when i spoke to him in march when this

up 10%, zillow down 4.5%. broader market under some selling pressure after the news on top housing has come out. it really set set the tone for e market. time for stuart varney and "varney & company." stuart: think very much, indeed. and interesting paul to kic kicf monday, do you have buyers remorse? 53% in a cnn poll with now both for mitt romney. 44% for barack obama. it makes no difference to your money at all but it did get your attention. a full-court press to stop companies fleeing abroad for lower taxes. pay your fair share, be patriotic. political posturing? yes, it is, with the election four months away. we will find out if we're on the road to recession. gdp and jobs numbers on the way. and "the new york times" want full, federal legalization for marijuana. "varney & company" is about to begin. ♪ stuart: i'm going to start with what i am calling a classic case of politics over policy. the fight over companies fleeing abroad to high taxes at home. jack lew writing in "the washington post," the system

so where is zillow trading at right now? i've got to go back and do the math. take zillow's price. at? >> "z." >> we'll get the per share price. >> 1.5886. >> times 0.44? >> yep. >> this is called a pregnant pause on the air in tv. >> live tv. >> this is what we do. some people hit baseballs live on tv. we add stuff up on television. using the help of a cool cow later on the iphone. 0.44 shares. by the way, benchmark last week which is a small research firm came out with a note and suggested that a combination zeal here would be extremely good. in fact they've got a price target on zillow of $210 a share, if there is a -- if there is a deal. so that was done over the weekend before they knew of a deal. >> $69.89. >> $69.89. or 90. >> so $69.90 on trulia shares. whew. >> trulia. >> trulia is at $56.35. >> that is up 15%. getting closer. $69.90. >> the company is claiming the value of the deal represents a 125% premium. they're saying trulia's closing price on july 25th which was on friday they say that each -- that zillow will own 33% of the combined company at closing. i'm sorry tr

zillow getting and nice move but looking at the boost trulia is getting, up 32% it zillow would be acquiring trulia. up 16%, both are having their biggest one-day games ever. the very latest on this story as it develops. the housing market itself is a major factor in the market today after a bit small new-home sales number that nobody saw coming came out this morning. down 8.1%, the worst in a year, take shrinkage when it comes to new-home sales. the s&p 500 is record territory, although just in the last couple of minutes it moved lower, that is the all-time closing high, so it is bumping up against it in the last few seconds we turn negative on the s&p 500. facebook heading for a record close, the s&p top gainers after blowing away quarterly estimates on strong mobile ad sales on 110 million shares being traded right now. also better than expected, weekly jobless claims fell to below 300,000, 284,000 is the number, more than an eight year low. fewer people are getting online for employment benefits. that kind of offset the good news for first-time jobless claims. stocks getting hammered for

time,n we spoke last zillow had acquired a much smaller company.hey've been on acquisitions or he. let's not forget it was the number one search platform in new york city, which is the biggest real estate market in the country. what is happening now is the low is looking tolow become the de facto search platform and rentals and sales their mainis competitor. they have the opportunity to do something here, so they can address the company and looks like it will -- >> they say the deal would be about $2 billion. why would trulia sell? >> the market cap is a lot higher than it was a year earlier. the market cap went flying. the stock is overpriced at the current price, if you can believe that, but more tying up and getting rid of a competitor and gaining that market share is a big deal. the ability to go out in the public markets, they went almost a year ago. i think it was august 19 of last year. they did a secondary and were willing to raise a lot of money from the public markets. cash is cheap and they're looking to take out a certain competitor and

spencer rascoff is with us with a small blue chip stock, zillow, up up and away for zillow.from of bloomberg west, adam johnson. wi-finish wh provider, the company says the chief officer is resigning. after admitting that he filed baked accounts for at least four years. shares have plunged on this news. one research firm says the startup -- part of anome am a investigation by the european union. the eu has already said that starbucks and apple are part of the probe. the antitrust chief says google could eventually be targeted. investigators are looking at whether the company has overly generous tax breaks from eu members. prosfy is hiring financial . spotify made a key acquisition recently and has landed a 200 million dollar credit line. the report also says the popular music streaming website could takeover target. interesting. >> there is spotify as well. countless advisors suggesting the where there is a loss when moving from privacy to the bright quarterly lights of a publicly traded company. chiefr rascoff is a officer of zillow. he began as a bloomberg intern. lyne has

zillow is offering $3.5 billion in stock for trulia. >> so could that deal, the one zillow/trulia deal, change the way you shop for a home and might the biggest real estate firm in america have something to say about this? joining us now, tim and bradley. should real estate agents be nervous about the deal because combined company will have a lot of influence over how people shop for a home. >> i don't think realtors should be that concerned. the challenge really comes from other associations. realtors are independent contractors. they just want to win more customers. if zillow wants to spend its money advertising and realtors can get more targeted prequalified buyers, they are perfectly happy. you won't see a lot of pushback from realtors at all. >> you look at the combined companies. some say will ftc have something to say about this because they'll have 90% of share in terms of online searches. how does this combined company compare to the mls, the real estate industry uses it that citizen has no access to. what does it do to that if anything? >> i think mls is run like regionally.

once a trulia zillow deal ends up, they gobble up the move. >> back to the deal, you are right. it has been totally priced in, i don't think analysts know what to do. a lot of guys are looking at it. stifel nicolaus was looking at the priceline to try to impute a form of valuation here t. point here is there is a significant expectation for these two companies to dominate north of 50%. i think a lot has been priced in. i would be very cautious to coat tail this. >> solar sales of ge technologies, all trading lower. the u.s. commerce department is placing solar panels on cells through china after finding the products were sold too cheaply here in the u.s. >> this is something that's been expressed for a while. what we didn't know is how ownerous these tariffs would be. they are pretty bad. the good fuse is the bolsters solar manufacturers. you saw a really nice rally today and shares of sun power and first solar, which i own, i think that can continue. now you will see this preference on the part of investors to pay up for the u.s. names and skip some of the international effecti

the combined company will keep both the trulia and zillow brands. zillow plans to expand its empire to smartphones and tablets, while the company's boards have okayed the deal, shareholders still need to approve it. >>> some silicon valley kids are learning the ropes about putting a tv show together. the summer video camp just wrapped up in san jose. create tv is a nonprofit community access channel and has spent part of the last three years teaching the students the basics of video production and thanks to a $50,000 grant from nbc universal 21st century solutions, create tv is able to help even more students. >> the great impact is now they are thinking of pursuing careers. they want to go to school. they have access to this commitment at school, they want to go to school. they are thinking of the future and what they can do. >> i've always loved entertaining people, and i've just -- it's really fun, and i love being on stage and just the entire experience of it all, so when i came, i was like -- i love it here. >> she's very excited. every year nb

shares of zillow are up 14% on the day. has gained over 30% in value to around $53.50 a share which makes it worth just around $2 billion. i mean, i don't know. would a combined company be called zulia or trillow? >> they have consultants for that. they spend very big bucks on. >> i'm sure they do. >> thank you. so why does zillow buying trulia make sense? or does it? >> that is the question. diana olick joins us now from washington. what are you hearing about the ra rationale for this possible deal? >> we just laeft big houeft a b conference. zillow's ceo left the conference quite quickly after it ended for the airport. i was told he was headed for san francisco, which is where rival trulia is based. zillow, of course, out of seattle. i'm just sayin'. i had a little e-mail exchange from rascoff but he had no comment. nothing from trulia either but analysts say it makes perfect sense. "as a combined entity, potentially game, set match for zillow." it is all about pricing power are around they would be able to add software s

zillow will acquire the within. in june, zillow reported about 80 million unique visitors. actuala, 54 million visitors with limited overlap. the company say they expect consumers will benefit from greater access. more services online, and on mobile. a big growth area attracting customers like this home shopper. >> i find it really easy to use, and sort of intuitive. it's been great. >> reporter: real estate experts say the sites have changed the real estate industry, giving people instant access to listings, and even demographic, and crime data at the click of a button. the deal does not ensure their long term success. >> the revenue has been pretty strong growth, but neither have made a profit. i think one of the big benefits of this mergen is they will be able to combine some of their expenses. >> reporter: the shareholders of both companies will need to approve the deal before it's finalized. they expect that could happen sometime in the early part of 2015. reporting live in san francisco, jana katsuyama, ktvu, channel 2 news. >>> we just learned today how much you'll h

right now, zillow is up 2.3%, hitting a new high. trulia also higher, hitting a new high as well.o most-used real estate websites. by putting them together, certainly will bring in so much revenue, because so much of the revenue comes from brokers, listing on these sites. so putting them together will really be a behemoth. they had more than 85 million unique visitors in june. they accounted for nearly 90% of all traffic to all real estate websites according to comscore. that came from bloomberg. it is really interesting to see the tie-up. as you noted $3.5 billion deal. expected to close in 2015 and they should save $100 million per year by 2016. melissa. melissa: nicole, thanks so much. long lines of airport security could be soon a thing of the past thanks to a little financial motivation. the tsa is offering up to $5,000 for ideas to screen up the screening process. two of our best creative mind. marketing maven bruce terkel and scott is back with us as well. i'm watching you on witter and i know you're someone that travels a lot. what is your best idea? >> my best idea is pr.

zillow seeking to buy rival truly a.will talk to the bluebird editor who broke the news. ♪ >> be sure to check out the latest edition of bloomberg is this week. it hits -- business week. it hits newsstands and your tablet today. remember, if you missed any of our interviews, you can now watch them on bloomberg and apple tv. it features live streaming and on-demand results. we are approaching 26 minutes past the hour, which means bloomberg television is on the market. here again with us is julie hyman. lots to digest in terms of economic data. x yes, it's hard to believe it is the middle of summer. let's take a look at stocks right now. a little bit of a rally, not much, but enough to push the s&p 500 yet again to a record. facebook earnings were positive. under armour is the best performer in the s&p because of its earnings. on the downside, some economic data was not up to snuff, particularly on halliburton and pat -- and caterpillar, driving down the dow. and some latebreaking news here. trulia is one that we have our

zillow new high as well. on the talk that zillow is near a deal for trulia, for as much as $2 billion according to bloomburg. and that moved these stocks here, moving wild, both again at new highs. let's talk about the hugely disappointing new home sales report we got in for the month of june. dropped 8.1%. that was much larger than expected. the prior month had downward revision. look what is going on here with some of these stocks. d.r. horton is down 11%. meritage, is down 5%. so this group really getting a blow today after existing home sales earlier in the week was good news but today this group getting hit hard. so we have new highs for you and also these homebuilders to the downside after the news on the economy and new home sales. back to you. melissa: nicole, thank you so much. long wait at the e.r.? you should have made a reservation. the new trend coming to hospitals across the country. >>> plus, facebook is coming of age. zuck and companying seeing the biggest gain in months. do you ever have too

the news of zillow acquiring trulia said the shares up for trulia

. >> san francisco based trulia is sold to rally website competitor zillow in an all stock deal worth $3.5 billion. the investors like the deal and the stock rose 14 percent this morning in premarket trading. the company will keep both the trulia and zillow brands because officials say there is limited consumer overlap. >> if you want to avoid a cold use fist bump rather than a handshake which spreads only 1/20th of the germs better than a high five which spreads half the germs of a shake. the fist bump involves a smaller square yays than touching palms. the study is published today in the american journal of infection control. we hope there will be fist bumping at at&t giants ballpark. mike? >>> people will be happy with the weather at 67 at 7:15 dropping to 62. you can see the highs in the mid-level clouds with the moisture coming in the next 24 to 48 hours. everything is quiet on live doppler 7 hd so we will slide on down and you can see a couple of radar runs with lightning over the to which them and one just to the west near highway 395 and another around bishop which are the bes

zillow is buying the san francisco-based company for $3.5 billion in an all-stock deal. that will create one dominant location for online home listings. the two companies have had relative overlaps since they appeal to different segments of the market. the deal is not expected to face anti-trust issues. >>> we are getting our first look at the new documentary on the little boy known as bat kid ♪ >> award-winning documentary filmmaker dana is directing the film called bat kid begins. it debuted in comic con in san diego yesterday. it tells the story of miles scott who at 5 years old made a wish to be a real bat man for a day. miles just finished treatment for leukemia. the director says he's about $50,000 away from raising the money needed to complete it. >>> well, an auto yards trash could be a criminal's treasure. 2 investigates finds stacks of personal information left behind in junkyard cars. who is responsible for keeping your sensitive documents out of the scrap? that's tonight at 5:00. >>> we always thank you for making ktvu your chice for news. you can follow us o

. >>> online real estate company zillow and trulia popping, zillow believed to be buying trulia. trulia up to $53.74. >>> coming up, home builders got hammered last month and we'll take a look at what is ailing the housing market but first, more earnings on a very busy day. >>> home builders closing, still a bit lower than expected. orders for new homes were lower but on the plus side selling price higher. shares down 3%. sales slumped last month. sales of newly built homes fell 8% in june, the biggest decline in a year. shares of home builders and housing related stocks tanked on the report. diana olick on what is going on in housing. >> reporter: the nation's home builders got hammered in june, sales of newly built homes plunged 8% from may, but even worse, may's impressive sales figure was revised down dramatically. >> new home sales are beginning to fade off and have ever since interest rates went up in early part of last summer, so there is clearly something going on with affordability that is leading to fewer home sales. >> reporter: while sales plunged, prices rose, 5%. ne

the price is a 25% premium for zillow's current ceo will stay on. lookings people for houses more and more online and are seeing it you to mount of companies trying to advertise online. the business model for the two companies are very similar. a lot of synergies. an analyst says these two have virtually identical models and paved the way for the two to become very profitable very quickly. they make money by having real estate agents pay to have their contact information on my next to the listings. so is a little older. growth is a little the slower there, but they have both seen growth above 40% on a year on year basis. agreeing to buy truly afford 43 $.5 billion in an all stocks we'll, creating by far the largest online real estate advertising company. back to you. >> thank you. we will stay on the news. a competitor expanding across the country as well. we will hear from the ceo about how he is changing the way you buy a home and have -- what the merger means for his business. how the company is trying to win back customers after the privacy brea

zillow, i'm licking my chops to buy on weakness. i love zillow, pounding the table for a long time.osition, if you're moving, renting, buying a house, that's where people go. if you're holding the stock, ride out the volatility. if not you are buying on weakness. >> $39, got crushed this morning. >> you got in under $40 and closed above 40. in positive territory. charles: what's the target? >> 48, 49, look for 20%. >> valuations very attractive to me. charles: yeah, i got to tell you, it's absolutely amazing, these airlines, who would have thought five years ago nobody would put money in the airlines stock. >> raising prices on everything, while consumers hate that, it's good for the stock. charles: we allowed them to have legalized collision. >> you got to go see grandma, you got to pay $6 for a screaming kid. charles: remember we did the thing on the movie theater yesterday. this is the opnight? not throwing millennials under the bus, i'm giving them props. they're going to be the ones that drive up the airline stocks as well as other travel stocks. charles: all right, by the way,

zillow. you're looking for a place for your life to happen.ving at staples for back to school. they're excited. ♪ these guys are super excited. because when you get notebooks for less... ♪ index cards for less... ♪ and tablets for less, all at guaranteed low prices, you can't help but show it. in a big way! staples. make more happen for less. could help your business didavoid hours of delaynd test caused by slow internet from the phone company? that's enough time to record a memo. idea for sales giveaway. return a call. sign a contract. pick a tie. take a break with mr. duck. practice up for the business trip. fly to florida. win an award. close a deal. hire an intern. and still have time to spare. go to comcastbusiness.com/ checkyourspeed if we can't offer faster speeds - or save you money - we'll give you $150. comcast business. built for business. >>> i'm milissa rehberger. one person has died after more than a dozen were struck by lightning on venice beach, california. >>> the aid organization in liberia is pulling workers after the team w

consumers tend to go to zillow more than trulia.rceived to be a similar. >> it does not seem like any potential homeowners are going to individual websites, wheth er corcoran --help me out. >> i can. i go to trulia and zillow also. >> if they do partner, is there any hope for these web dualations for indivi real estate companies? >> i am sure there is. it depends on the brand of the real estate broker and frankly of the agent. this is truly local. location, location, location. those people do not need any -- the agents do not need to build a national or regional brands. they can have highly focused brands in local area using tools. and trulia offer some of those. i think there are plenty of brand opportunities for individual real estate agents and brokerages. >> i love it. o. i love her to if you are looking in bronxville -- you can look at trulia and zil low, then go to local realtors. >> thank you so much for joining us. alnaging director at rbc capit in san francisco print >> we are in the heart of earnings season. can you feel i

we looked at 50 largest metro areas, using zillow areas to 1979.d 10 most volatile, and 10 least volatile. most volatile, are california, florida, metro areas. least volatile, north carolina and other places like that. melissa: mark, what is the significant of reaching that point again? is that we need to get there in order to get a lot of people underwater out from underneath that debt. or are we making much of a milestone that doesn't mean that much? what do you think? >> you know, if we were to reach that point right now, with the lack of meaningful end-user demand, incomes, or employment levels, we would be in a bubble again right now. so, pushing out forecast, and when we get there, to 2017 i really think it will be a lot longer than that. maybe 2021. if we got back there, all the people underwater in negative equity or effective negative equity position who can't sell and rebuy because they're underwater in their house would be freed up. that would be a positive in getting back there. but again, new people can't buy because if we were back th

and whole notion of top, and l zillow, i mean, i am telling people to sell zillow right now, so i can 100 points that i told people to buy zillow and spencer don't take it personally, because it is great and it is something that i should sell. >> well, it is down again. and there is an anti-trust there, too. how to define the market. >> and you are okay with me saying spence. >> yes, z-men and spence. >> yes, and one thing is that how can you like the zillow deal, yep, that's it, recommend it at 20, 50, 120, and i'm done zillow, there, ka-ching, ka-ching, done. >> and are you done petsmart? and the stock is not moving, but it is some time ago that we were told that janet owned 6% of the company, and this morning they put out a letter saying, hey, we like to work constructively with the boards and work on making changes while the company is public, but given petsmart's chronic underperformance and this is a letter from jana and a sale in this case very likely offers the highest, highest risk adjusted return for shareholders, and that is why we were stunned by the recent reports suggest

. >> zillow cofounder, robert

. >> reporter: the zillow two websites may be about to join. zillow is about to buy trulia. >>> the dow industrials dropped two points nasdaq lost one. >>> for a time today facebook was worth more than ibm. yesterday's positive earnings report sent facebook shares to their highest yet. that made the facebook shares at its highest price. >>> b.a.r.t. and make a wish have made one boy very happy. by granting his wish to board a b.a.r.t. train. that's austin james he has cerebral palsy. he's sensitive to noise and crowds and that's why he had never ridden on b.a.r.t.: but he loves trains and watches them. on this trip, austin everyone got to ride up with the train conductor. it was a special trip because no one else got to ride. >>> other animals were soaking up all the attention from humans. in the hall of flowers professional and amateur gardeners showed off their work creating fantasy gardens. the theme of this year's fair goes back to the 60s. peace, love and fair. it's closed on mondays. >>> temperatures heated up today. we got 10 to 15 degre

. >> zillow cofounder, robert rubin, former treasury secretary. >> the government is not meeting its challenges. we will hear-- them weigh in on the policy and business challenges of today's economy. >> what's your sense of what is going on in an economic recovery? how would you characterize this economy? say we don't have enough internally generated growth. we can't do that unless we unlock investment and directed to high-growth areas. we have only two options. one is not favored by the house .f representatives we have cut the deficit by more than 50%. we have to get the structural deficit down. this is the best time we will have to undertake and massive effort to build a 21st-century infrastructure. if we did that, we would have internally generated growth. requirer option would less of congress. we could build an infrastructure bank with public and private funds. with a negotiated incentive structure. to be fair, there is aware -- a wariness to do this in both parties. it would have a guaranteed rate of return if the government said it up. i believe we can negotiate an attractive

zillow has agreed to buy truly a -- trulia. zillow will continue to operate separate websites. attractthe two, they 130 million visitors per month. $12 million fine for southwest airlines for failing to comply with safety regulations. southwest is accused of flying many with planes without making proper repairs. the faa says it discovered this after conducting an investigation of another problem . at last check, the airline has not commented. the house has approved a bill letting airlines once again advertised freeze taxpayers. free of tax fares. airline say doing so hurts business and hikes costs imposed on air travel. they believe having the pretax fare misleads travelers. ahead, coming up at 6:00, a $17 billion deal to improve health care for veterans is in the works. scott thuman will look at where that money will go and will also share with a veteran who has fought -- to has the courage to fight in the face of this proposal. >> let's go to steve rudin for our weather update. a look at theng live shot of the torpedo factory in old town alexandria. temperatures will fall int

zillow. you're looking for a place for your life to happen. isn't easy, and it isn't the end.y is designed around your profession, giving you what you need to go further, to your point "c". capella university. start your journey at capella.edu. >>> i'm milissa rehberger. hamas fired more rocket into israel. israel says it still retains the right to respond to any fire from gaza. >>> the widow of a man that died in new york city police custody after being in a choke hold says he was not violent and he was a quiet man. she poke spoke with the victim's mother at the reverend al sharpton's national action network. now, back to "lockup." >>> across the street in san antonio's bear county jail is the annex. it is here that low inmates are charged in large dormitory housing units that are usually team willing from activity while some try to rest, others are socializing, talking on the phone or playing games. matt gentry prefers to spend his time making music. ♪ i don't know about a job ♪ i'm tiring of being incarcerated ♪ ♪ i want the lifestyles of the boca raton ♪ ♪ you can stay up

zillow. >>> this is bbc world news. the latest headlines.e than 800 palestinians, most civilians now known to have died in the israeli offensive this month. >>> more bodies are victims of mh 17 depart for forensic tests and identification many the netherlands. >>> the french president francois hollande says one flight recorder has been recover ed from the algerie passenger plane that crashed in mali. poor weather is thought to be the cause. french officials say there's no survivors of 116 on board. half of them were french nationals. smith is in the capital. i asked her about the challenges facing the french troops trying to secure the crash site. >>>i understand the french army have dispatched 30 vehicles 200 kilometers east of the crash site. soldiers may have arrived after a search operation that included a drone, two jets and attack helicopters provided by the french and united nations operation here in mali. the challenges facing them are largely that it's raining, still raining. storms that may have been the cause of the flight's demis