i think he's very young. >> but those around zuckerberg say he's learning fast.till wear a hoodie and no socks, but he's becoming a suit as he ponders whether to take his company public this year. this would be a good place to announce that. >> i think what i can announce is that it is highly unlikely that we will go public in 2008. when going public makes sense to do, we'll do that, and maybe that's two years out; maybe it's three years out. >> do you think that your age is an asset or a liability? >> i mean, there's probably a little bit of both, right? i mean, there are definitely elements of experience and stuff that someone who's my age wouldn't have, but there are also things that i can do that other people wouldn't necessarily be able to. >> the facebook phenomenon can perhaps best be summed up by one statistic. in july, 2010, just six years after its launch, mark zuckerberg announced that the company had reached the 500-million-user mark. as for the lawsuit charging that zuckerberg stole the idea for facebook, the parties reached a confidential settlement

as a teenager, mark zuckerberg came up with the idea from his dorm room in harvard. >> these guys knoweople and i need their e-mails. his story now immortalized in the hollywood movie, "the social network." >> when is it going live? >> right now. get your laptop out. >> reporter: from that tiny room, the phenomenon spread first to other colleges and then across the country. within two years they had 5 million users. today the site has 800 million. in fact, 40% of everyone on the internet has a facebook account. >> they're the second-most visited website in the world, so i mean, just a tremendous success in terms of its social impact and the scope of this company. how big is that scope? we posted that question where else, but on facebook. the question we're asking, how is facebook part of your everyday life? >> reporter: within seconds, the comments were rolling in. "this is how i keep in touch with all of my friends." "i check it every five minutes." and, "honest truth -- facebook is my life." two years ago, diane sawyer sat down with mark zuckerberg, asking him directly when he planne

two years ago, diane sawyer sat down with zuckerberg, asking him directly when he planned to take theompany public. >> when it makes sense. we're not running the company to do that. >> reporter: but there are reports the paperwork could be filed as early as wednesday. leaving early investors smiling all of the way to the bank. when search engine giant, google, went public in 2004, the company was valued at $23 billion. facebook is expected to be worth three to four times that much. up to 100 million with more room to grow. the question is, will everyday investors buy into the hype? >> analysts we spoke to say the average investor, best strategy is sit tight and see how it plays out before you jump on board. for mark zuckerberg, should this public offering go ahead, the 27-year-old will be worth about $27 billion. >> he's not in the average investor category. >> no, no. >> the two of us are. any idea what the cost of a share of facebook will be? >> we won't know until the papers are filed, but you can rest assured, we're not talking about an ordinary stock out there. this will be a big

he was commissioned by mark zuckerberg to have at it.e a kid in a candy store, take these walls and do what you want. >> better not use spray paint. >> that's what he does. he's a graffiti office. he was given the best possible canvas he could ask for, hundreds and hundreds of feet of white space. >> this not the first time he worked in the facebook offices. he was commissioned in 2005 to decorate their offices. then again in 2007 mark zuckerberg had him come in to do their new base. i guess he loved what he had done. this time when they got more blank walls, he had him back. >> this is fun. it's fun to go to work and see what he'll create. >> plain boring strips of fluorescent lights that make you feel like you're going to have a headache, he turns them into '80s sunglasses. some is pretty rudimentary but look at this mural he did. look at that. those are the continents. north america under the monkey head and south america. don't know where he's going with russia. >> this is really, really cool. i like it when corporations embraces the

green was one of facebook founder mark zuckerberg's roommates.he the. just facebook. >> reporter: that's because when zuckerberg asked green to drop out of harvard with him to build facebook green said no. >> we'd gotten in a little bit of trouble way previous project. >> reporter: that project, their first website, asked students to rate the looks of fellow classmates, hot or not. harvard officials threatened them with expulsion p. >> my father, who's a professor was not too happy with the prospect of me getting kicked out of school. >> what does your father say now about what fb fbs has become and -- >> zuckerberg likes to make fun of my dad for this but we're still very close. >> reporter: instead he followed his politics and worked for john kerry's presidential campaign. colleagues call that decision green's $400 million mistake. his share if he had helped start facebook. >> i was like what about the content? >> reporter: but he's back in the facebook fold, running a company called causes. it's a facebook application and website which lets fr

mark zuckerberg's contemporaries issued colorful issues.ut they have to disclose acquisitions and what their patents look like. and customer relationships. but the docs will show who owns more than 5% of the social network. as of now, we know of digital sky, the original harvard brain trust and mark zuckerberg himself. but there are always surprises here. >> fascinating stuff. we'll learn who owns what, where the money comes from, how much money they earn and what their margin is. >> and what they're going to use it for. >> and what they're going to use the cash for. exactly. >> you're going to be busy, kayla. >> thanks a lot. get your speed reading up to par there. >>> speaking of tech and media pioneers, bob pittman certainly fits the bill. he now oversees clear channel's global media properties, including the nation's largest radio network and outdoor advertising properties. because it takes a media mogul to recognize another in the making, mr. pittman just inked a huge deal with ryan seacrest's production company. mr. pittman joins us o

his dad advised him to stay away from mark zuckerberg, he's bad news.a company called causes, he does wonderful things and has no regrets. >> i have a question. who does zuckerberg get to decide for the nasdaq? the symbol. >> you get to choose your own symbol. we were almost certain it's going to be fb. it would be fun if it were like. >> or poke. >> interesting where it goes money wise. >> still to come on "today in the bay," a south san francisco factory is expected to get a big fine from the federal government. we'll tell you why. >> you'll see picket lines outside of kaiser permanente hospitals today. a like report coming up next. >> and i'm consistently measuring hotness on my facebook page in terms of temperatures of course. if you like that you'll love what we have in store this weekend. >> the north bay, not for 101, 37 a little bit. we'll show you where there is muchslor mg owe ngcoinp.re [ mom ] hey guys. guys... [ female announcer ] pillsbury cinnamon rolls with cinnabon cinnamon are an irresistible sunday morning idea. nothing calls them to

i've heard mark zuckerberg say he was resistant, wasn't red you. so many shareholders that the securities and exchange commission requires that they go public. he doesn't have a choice legally. >> how is facebook going to change, not because of the public offering but because of where they are with a billion users, one seventh of the planet? >> it's really, really truly amazing. i think what they're going try tlo do. the growth will slow down in terms of the number of users on facebook. what they're going to try to do is get more people more engaged. getting people to spend more and more time. the more time they spend on facebook shall the more money the company makes by the way. that's what will happen. >> their success will be how to use it as a selling vehicle? >> that's right. initially, zuckerberg and the other people resisted making it overly commercial because they saw what happened to myspace. they wanted to gain people's trust and get people to join and be a part of the community. now that they've done that, they want people to be on it mo

. >> i think they're going to learn about salary, how much people make, how much mark zuckerberg and cheryl sandberg, the chief operating officer, what are their salaries, and how are the relationships between the companies that do business with facebook, and what do those look like? how do people get paid? how does procter & gamble, a company, for instance, how would they get paid? >> going public will come with the fair share of challenges for mark zuckerberg and he will need to figure out how to reward his employees without putting to much emphasis on stock. and another challenge, how to keep the overnight millionaires who have been critical to facebook's success so far from leaving. >>> do you hate the clutter and complication of searching for those receipts? on the consumer watch, julie watts says, that may soon be a thing of the past. >> we all have them. receipts. stashed in your wallet. and shoe boxes. jump drawers. and when it is time to make a return, file taxes, fill out an expense report, we go digging. but one day, we may not have to. since all those receipts will be rig

status update for zuckerberg today, probably be blank. i would think you'd want to keep quiet. >> that way no gun jumping, s.e.c. don't worry about it. focus on something else. >> really? the s.e.c. will jump on his facebook page? >> we never allowed all this trading. we talked about that with david. there was no private market. the s.e.c. has decided to take a leave of be a as soon absence o. i think it's ridiculous but the s.e.c. has fallen behind. >> up next, get ready for cramer's mad dash ahead of the bell. and golden cross or not, we're looking at a lower open here on wall street. >> golden cross, i love it. while some fiber ads use super models, metamucil uses super hard working psyllium fiber, which gels to remove unsexy waste and reduce cholesterol. taking psyllium fiber won't make you a model but you should feel a little more super. metamucil. down with cholesterol. all in one account. it's powerful, easy to use technology for trading stocks, options, and futures. optionsxpress, the broker smart traders deserve. open an account

two years ago, diane sawyer sat down with zuckerberg, asking him directly when he planned to take theompany public. >> when it makes sense. we're not running the company to do that. >> reporter: but there are reports the paperwork could be filed as early as wednesday. leaving early investors smiling all of the way to the bank. when search engine giant, google, went public in 2004, the company was valued at $23 billion. facebook is expected to be worth three to four times that much. up to 100 million with more room to grow. the question is, will everyday investors buy into the hype? >> analysts we spoke to say the average investor, best strategy is sit tight and see how it plays out before you jump on board.zuckerberg, should this go ahead he'll bea worth 27 billion. not bad for a guy who's only 27 years old. >> you can rest assured, we're not talking about an ordinary stock out there. this will be a big deal. >> thank you, i can friend you now on facebook. >>> new science leading to the brand-new mid-life checklist, how you can turn your health around at 45, even later. and stunning p

then, zuckerberg was like, "anyone else want to complain about the new facebook timeline?kay, good." [ laughter ] that's right, mark zuckerberg killed a bison and mounted its head on the wall, which explains why today all my farmville animals migrated to friendster. [ laughter ] get this, guys. [ light laughter ] nothing like a good friendster joke, huh? >> steve: yeah. [ laughter ] >> jimmy: according to a new survey, the most annoying word of 2011 was "whatever" -- [ laughter ] which is why i always go with the much less annoying option "whatevsies." in honor of christmas, a town in the uk held a reindeer race on friday night. and of course, it happened to be right when my grandma was crossing the street. [ laughter and ohs ] >> steve: where was this? where? >> jimmy: i didn't tell you? >> steve: no. what happened? [ laughter ] >> jimmy: you know my grandma, right? >> steve: yeah. >> jimmy: she -- got run over by a reindeer. [ laughter ] sorry about that. >> steve: where? where? >> jimmy: she was walking home from our house on christmas eve. [ laughter ] >> steve: so, ho

you know who this person is, mark zuckerberg.sting for zuckerberg and facebook. facebook was under fire for privacy policies and users were upset about the changing of the settings and interface. what will the year of the dragon bring to zuckerberg. >> he's an earth person like obama. earth, water moneys money. he's starting his good luck, 20 years of money. >> this is not a person, obviously, but the euro. it does have a birthday, january 1st, 1999. >> yes. >> it's a tiger, like me. >> yes. >> what will the year ahead bring to tiger? >> january 1st was a water day. when water sees water, it's a competitor. competitor we call it sharing the money. it's not a strong sign about the economy aspect of europe. >> very interesting. i hope mr. obama is watching that. well, let's have a look at the european markets. and worries clearly about the lack of progress on those greek debt talks are taking their toll. we did see gains to start off with and we're still seeing them for the london ftse, outside the euro zone. but for the xetra dax

and by the way, grace, facebook's founder zuckerberg is 27 years old. so if they do this filing on wednesday, the ipo could come in april or may, he turns 28 in may. that's a nice birthday gift. >> i would say so. >> reporter: already, he's valued at $17.5 billion. >> makes us feel a little behind. >>> in politics, all signs are pointing to mitt romney getting a big boost from tomorrow's republican presidential primary in florida. his main rival newt gingrich is holding a rally this morning in jacksonville. the state's largest city. looks like he is not up to the podium yet. here's a live look as it looks like media get ready. polls show he is well behind romney in the sunshine state. now, this is a winner-take-all contest meaning that the top vote-getter receives all of florida's 50 delegates. newt gingrich continues to campaign there running in second. rick santorum plans to resume his campaign today saying the conditions of his hospitalized daughter has improved. ron paul has conceded florida and is instead focusing on caucus states where he tends to

what does this mean for zuckerberg?is history at a thousand different level. >> this means this 27-year-old can buy a lot of hoodies because when they start trading this company publicly on stock exchanges his net worth will be roughly $25 billion putting him in the top 15 in the world and he'll bring a lot of his employees with him, about 3,000 people work out there in california on facebook, coders and advertisers and all these people, and about a thousand of them will become mul multimillionaires the minute the stock starts trading. >> a thousand of them. >> when they were hired depending on when you joined the company you're allowed to buy a certain amount of shares and once this hits the market, this will go. mommas, let your babies grow up to be coders. >> what does it mean around the world? i was asking you about china. where does this rank among china? >> there's only about a half dozen companies including oil companies that are worth more than the hundred billion dollars a lot of people are putting on facebook

. >> a lot of students want to be the next mark zuckerberg. >> reporter: mark zuckerberg may have droppedof college, but back on campus computer science is hot. and students with coding skills are burning up the job market. >> by graduation, how many companies reached out to you about working for them? >> i'd say between 10 and 20 reached out to me. just before graduating. >> reporter: how many job offers did you get? >> around four or five. >> reporter: you haven't even graduated yet. how many companies have reached out to you? >> between 10 and 20. >> reporter: it's a common story for computer science majors. >> most of my friends are also are not worried about jobs. >> reporter: look at tech job postings to see the demand. at nyu, that translated into a 94% placement rate for computer science grads last spring. for the class of 2011, computer science majors did the best on the job hunt. 56% had a job offer before graduation, compared with 41% overall. what do your friends tell you who aren't computer science majors about getting a job? >> they think i don't live in reality. >> reporter

it would make founder mark zuckerberg a very rich man.y 20 years after aol went public and some think that this ipo could lead to another boom in technology. >> amazing what has happened in the last 20 years. facebook is still having tremendous successfully remember first meeting mark zuckerberg and he said he first learned how to program by hacking into the aol system. >> reporter: the law stopping most occasional investors from shelling out for this offering. >> unless you have a million dollars of net worth or more and have a preexisting relationship with the firm, can you not buy an ipo. that is the law. >> reporter: morgan stanley and goldman sachs jockeying right new for control of this stock sale. any deal could yield a big bank tens of millions of dollars in new business and, of course, fees. >>> the washington wizards were looking to do something they hadn't done since last april, win two straight. up next, things got off to a rocky start last night and by the end of the night, things got worse. highlights and an injury update co

it's really, he's pressing all the buttons. >> well, i don't think it's zuckerbe zuckerberg. i think he would stay private he had the ability to. according to my searches has been steering all of the discussions here. he's basically, you know, some bankers have used the term bankers are viewed as the necessary evil to be brought in and help them do this deal and allocate the shares in the appropriate manner. it seems up until this point it has been cfo and at this point zuckerberg will come into the frame and do everything they need to do. up until now it's really been a more financial issue. >> no word on where it's going to list. >> no word. and you won't see that in the filing tomorrow either. that is another tactic where the you're trying to get the lowest fee possible, you have to imagine both nasdaq and the nyse are both fighting over each other to get that listing of facebook and giving them the lowest listing price possible. it would behoove them to steer the price lower. >> thanks again for that. again, facebook $5 billion. morgan stanley the lead underwriter on that

>> reporter: mark zuckerberg is the founder of facebook, 27 years old.n't know how much he makes but his estimated worth is about 17.5 billion dollars. depending how much facebook is actually worth and how much they make in the ipo, that could go to $20 billion. >> everyone is on facebook i think for my parents and lawrence karnow, lisa. >> and my mom. [ laughter ] >> much more on facebook's ip on the and what it means for the company coming up at 7 a.m. on "cbs this morning." >>> the metering lights are on at the bay bridge. >> it's getting busy. metering lights were turned on a little while ago so crowded. they just turned them on in the last 10 minutes. live look at the bay bridge on the upper deck, everything is moving fine this morning. southbound 880 they just cleared an accidentful i didn't have time to change this but two lanes were blocked for a while. coming out of downtown, in those northbound lanes of 280, it's sluggish. altamont pass, we have brake lights from the wind turbines through livermore and the dublin-pleasanton area. it's 23-minute

(nats)a lot of students want to be the next ark zuckerberg, they want to build something cool that'sith coding skills are burning up the job market.reporter: by graduation, how many companies reached out to you about working forrthem?i'd say between 10 and 20 reached out to me before graduating. reporter: how many job offers did you get?around 4 or 5. reporter: you haven't even graduated yet. how many companies have reached out to you? between 10 and twenty" it's a common story for c-s majors.most of my friends who are cs students at the same school have the same similar feeling that, they're not really worried about jobs.just look at tech job postings to see the demand. at nyu that translated into a 94 percent placement rate for computer science grads last spring. for the class of 2011, computer science majors did the best on the job market, with 56 percent getting job compared to 41 percent overall. reporter: what do your friends tell you that aren't computer science majors?uh, they think i don't live in reality.an average starting salary of 66-thousand bucks and job security may b

the guy that's going to boom is mark zuckerberg.s the $100 billion valuation, look where zuckerberg is likely to fall. he's likely to become the 23rd wealthiest human being on this planet. >> boy, there's a lot to live up to there. everybody's just going to want to dig into this thing. this is going to have every element of intrigue for an ipo. >> zynga might get a pop from this. all the attention from the people that may not be on facebook, there's actually some of them out there, maybe they'll start to sniff around. >> there's a lot of -- >> some people think it is up 5%. >> it's all a matter of how well they've monetized all of us who use it. >> really? is that true? our producer just in my ear with this little nugget. mark zuckerberg would be richer than larry of google fame. >> really? >> and guess what also? we should get jane wells to silicon valley stat because remember you and i were talking about home prices being -- literally a two-bedroom shack a million bucks. if you're a realtor in silicon valley right now, take the re

as a teenager, mark zuckerberg came occupy with the idea from this dorm room in harvard. his story now imporeportallized in the hollywood movie "the social network." >> from that tiny room, the phenomenal spread, first to other colleges and then across the country. within two yea five had five million users. today the site has 800 million. in fact 40% of everyone on the internet has a facebook account. >> the second most visited web site in the world. just a tremendous success in terms of its social impact and the scope of this company. >> and just how big is that scope? we posted the question, where else, but on facebook. >> the question we're asking is, how is facebook part of your everyday life? within seconds the comments were rolling in. this is how i keep in touch with my friend. i check it every five minutes, and honest truth, facebook is my life. two years ago. we sat down with mark suck e berg asking himen ctly when they're taking the company public. >> when it makes sense. >> now there are reports the paperwork could be filed as early as wednesday, making early

file papers next week for their stock -- >>> coming up in 20 minutes, what facebook founder mark zuckerberg pledged to the city of newark and why it's created legal problems. >>> tough talk about tuition, what president obama is threatening to do to colleges and what bay area students have to say about it. >>> the bay area weekend is here, i'll show you which in the weekend will be the warmest. -- i'll show you which day in the weekend will be the warmest. sweetheart. we need to talk. i've seen your stunts online. i can explain... jumping a ramp in a shopping cart. so 2005. wait, what? and only 3 likes? honey, it's embarrassing. carol's son got over 12 million views on that dancing squirrel video. don't you want that? i...i suppose. now go make your dad and me proud. try something funny. [ male announcer ] now everyone's up to speed. get high speed internet for $14.95 a month for 12 months with a one year term. at&t. >>> i'm telling congress, we should steer pay to those colleges who provide good value, serve their students well. we are putting colleges on notice. >>> president obama had to

watch out, mark zuckerberg. maggie lake, cnn, new york. >>> staying with technology, the former ceo of the optical equipmentmaker olympus has abandoned his fight to get his job back. michael woodford who was sacked in october after he blew the whistle on a billion dollar accounting fraud plans to sue the company for his unfair dismissal. he flew into tokyo to rally support for his reinstatement. wolfford says olympus' big japanese shareholders let him down. he has harsh word for the company's president. >> if that had been in any other capitalist market in the world, takayama would have had fruit thrown at him the athe press conference. the headlines would be "idiot, liar, fool." how could he have said these payments were appropriate and good value? but he stays. >> mark woodford going down fighting. the news hasn't hurt olympus' share price. it was up by 2.25%. if you look at the longer term, it has a long way to go before it recovers its huge losses since the scandal broke just under three months ago. one stag

as a teenager mark zuckerberger came up with from the idea in his dorm room in harvard. >> these guys need each other and i need their e-mail. >> it was in the movie "the social network." >> get your laptop out. >> from that tiny room it spread to other colleges and then across the country. within two years they had 5 million users. today the site has 800 million. 40% of everyone on the internet has a facebook account. >> the second most visited website in the world. i mean, just a tremendous success in terms of its social impact in the scope of this company. >> and just how big is that scope? we posted the question, where else, but on facebook. >> the question we are asking is how is facebook part of your everyday life? >> within seconds the comments were rolling in. this is how i keep in touch with all of my friends. i check it every five minutes. and facebook is my life. two years ago diane sawyer asked him frequently when he planned to take the company public. >> when it makes sense. we aren't running the company to do that. >> but now there are reports paperwork could be filed as

this is a tough decision fork mark zuckerberg because in essence he will be giving up some control of the company by bringing on public shareholders. how many shares will be made available to the public is this. >> the company could be worth as much as $100 billion. that would make it the biggest tech ipo in u.s. history. so far, the menlo-based company is not commenting. >>> also today, governor jerry brown told city leaders around the state everyone has to share the pain. in an interview with kcbs radio he said california has been spending money it doesn't have and cuts are necessary. >> it's almost like little children. daddy comes home says i lost my job we don't have the money. we can't go to the movies, can't have a new bicycle, can't have more toys. the fact, california has been spending money it didn't v i am balancing the books honestly and prudently and that means we have to cut back and that cutting nobody likes. >>> governor brown promised they will reform the pension program while protecting public education funding. >>> pink slips were mailed out today to more than 500 c

facebook founder mark zuckerberg inttoduced the new format back in september.our stories, all your apps, and a new way to express who you are. its a new layout with everything sorted by months and years to make it easier to relive your on-line life. with last month's rollout, users were given an option to activate it right away or wait for the inevitable.it might be a little scarier right off the bat, or lots scarier off the bat. it's also going to be a lot more rewarding when you get over that uneasiness at first . after an account makes the witch to timeline users get 7 days before it goes public and friends can see it -- giving a user time to sort out what appears -- highlighting the good stuff, hiding those wild college party pictures, and deleting posts that aren't so interesting.tech reporter ssm biddle of gizmodo says it's easier than some users, might think.you don't have to go in and go month by month through the last several years of your life to make timeline look interesting. facebook does most of the work for you. they take all the posts, all the p

. >> long term, then i will be happy to go to mark zuckerberg's house and wash his windows. or mow his yard. >> reporter: the facebook wind fall highlights california's dependence on income taxes that go up during good times and drop during bad times. it is one factor in our budget crisis. ken pritchett, ktvu channel 2 news. >>> state earthquake safety officials say california has more work to do to with japan. the safety commission discussed japan's safety protocols. an early warning system but it may be a while before changes are made here. >> national economy isn't in great shape. i don't see these are a fix that will happen immediately but it is something we could aspire to. >> he says japan was prepared for last year's earthquake and most of the deaths were the result of the tsunami. >>> a earthquake shook japan today. the 5ate 8 was 75 southeast of fukushima. no one was hurt and no major damage was reported. there was also no risk of a tsunami. officials in japan are considering testing of breast milk for mothers who live mere the fukushima plant. radioactive material

i remember first meeting mark zuckerberg.learned to program by hacking into the aol system. reporter: facebook has 800 million users worldwide, the law stopping occasional investors from shelling out for this offering. >> unless you have a million dollars of net worth or more meaning you're a credited investor and have a preexisting relationship with the firm you cannot buy an ipo. that's the law. reporter: morgan stanley and goldman sachs jockeying for control of this stock sale. any deal could yield a i big bank tens of millions of -- yield a big bank tens of millions of dollars in new business and, of course, fees. >> you can't score with facebook, but you are going to be able to score with the weather. >> don't need to be a millionaire for nice weather. >> a totally public offering of wonderful numbers if you like it warm. who doesn't need a spring satcher in the end of january and -- sampler in the end of january and almost february. don't be surprised it will be chilly overnight and start on a cold note in the morning.

zuckerberg and green had gotten into trouble for coming up with a website that showed girls on hotness. his dad said this mark guy, he is no good, bad news, stay out of this facebook thing. joe has no regrets. he started a company called causes that helps people and charities. but did not get in on the original facebook. >> that is fascinating. >> no regrets? that's tough to believe. >> about 400 million regrets. >> i'm with you on that. >> thanks so much. >> still ahead on "today in the bay," making the cuts official. oakland getting ready to vote on a plan that would put dozens of people out of jobs. >> i'm meteorologist christina loren. i'll let you know when the next best window for light showers in the bay area arrives and a big time warm-up in time for the weekend. >> you are just in time for slowing for 580. that's kicking in. i'll show you another early indicator for what your morning commute will likely be like. >> we'll see if traffic is picking up here at 880 and oakland as well. hey guys, breakfast! ♪ [ female announcer ] if whole grain isn't the first ingredient in your br

who wins, who loses in silicon valley when marc zuckerberg and company friends investors. >> and financials the worst performing sector last year. it's getting hit hard today, but still one of the best performers this year. citi upgraded, b of a downgraded, what's the bottom line on the bank sns. >> we will find out that and more. i'm tyler mathisen with sue herera and brian shactman. "power lunch" begins right now. >>> how about this, the dow closed with a triple digit move only once this year on january 3rd, that was the first trading day of the year. europe interests today on the front burner and u.s. consumer spending is flat. we're off the lows but a triple digit move still on for the day. 75 points in the dow, s&p 500 down more than half a percent. the pulse of the markets that yield on the 10-year touching a fresh 2012 low today. the 5-year hit an all-time low by the way. that yield at 1.82. the euro a little weaker and the dollar stronger. and of course we have the vix just a touch below 20 to the upside. midday movers big drop for ga net. wendy's lower on a 30% drop in earnings dow

it's a deal worth billions and could leave its founder mark zuckerberg worth as much as $20 billion. >>> a check of market act sift starting overseas. tokyo's nikkei average was down 48 points. hong kong's hang seng was down 320. in london the ftse opened down as well. on wall street, the dow closed 74 points for the week and the nasdaq was up 11. >>> millions of americans are being hit in the walt by record-high prices for beef. the cost of beef has soared 25% in just three years. one reason is the severe drought in the southern plains has pushed the number of cattle to its lowest level in 50 years. >>> well, students at a philadelphia-area middle school will not be wearing those uggs style boots. the popular footwear has been banned because students are tucking cell phones in boots. of course, cell phones are not allowed in class. administrators say uggs can be worn to school but they have been locked in the kids' lockers. >>> "the grey" is atop the box office. liam neeson heads and then "under world: awakening" bringing in $12.5 million and "one for the money" bringing in $12 mill

about the california state gap >> it's there but it's big but it could be reduced by bay area mark zuckerberg, what he and facebook could be doing to tha could change the story for california. >>> thank you for trusting ktvu for your news. see you next time the news breaks . have a good day.

facebook founder mark zuckerberg introduced the format in september. >> all your stories and apps, andy to express. >> reporter: everything sorted by month and years to make it easier to relive your on line life. users were given an option to activate or wait for the inevitable. after an account makes the switch to timeline users get 7 days before it goes public and friends can see it. giving the user time to sort out what appears highlighting the good stuff, hiding the wild college party pictures and deleting posts that aren't so interesting. it's easier than some user might think. >> you don't have to go month by month. facebook takes the photos. >> reporter: the most prominent is the cover photo on profiles it's been confined to a small corner of the page. timeline stretches it across the entire page, so choose a good one. i'm karen kay pa, you are now clicked in. >> the girl scouts are celebrating the centennial with a new cookie, savanna smiles it's lemon flavored. the company that makes the treats describes them as cool and crisp with just the right number of lemon chips. you can

i've always heard mark zuckerberg say he wasn't ready. why now? so many shareholders at the company that the security and exchanges commission require they go public. >> so he didn't have a choice. >> how is facebook going to change? not because of the public offering but because of where they are with a billion users? >> it's really, really truly amazing. i think that what they're going to try to do -- obviously, the growth is going to slow down in terms of number of users. what they're going to try to do is get people more engaged. trying to get people to spend more and more time. the more time they spend on facebook, the more time the company makes. that's what's going to happen. >> but their success will be how they can use facebook as a selling vehicle. >> that's right. and you know, initially mark zuckerberg and the other people at facebook resisted making it overly commercial because they saw what happened to myspace. they wanted to gain people's trust and get them to be a part of the community. now that they've done that, they want people

zuckerberg said many times he's interested in focusing on growing the company, growing its revenue and its earnings and that's something that he wanted to do without the distraction of the public markets. >> jon fortt, what does this do to other companies or for other companies that may be wanting to come public from the valley et cetera? >> sucks all the air out of the room. nobody wants to come out at the same time as facebook. another thing i'll say as far as the distraction issue facebook should not have done this sooner. they had some major changes in timeline and other things they were rolling out at that time. it's going to be a big distraction for employees, they need to get that stuff done before this whole thing happens. >> sucks the air out of the room. >> that's perfectly well-said. >> great point. thanks all of you. >> yes. >> we'll follow this story for the rest of the afternoon and into next week. up next though, get ready for the trader triple play. not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doi