16 points higher but goldman sachs can't get down into the green. let's bring in nicole petallides on the floor of the stock exchange, you are looking at crispy cream, big news, the doughnut maker. >> crispy cream based in north carolina continuing with some expansion plans. let's look at the stock at the same time announcing today it is going to be opening its first store in taiwan. that will happen this week, december 12th, fears they, it will be the first new store and ten after that in taiwan over the next five years so with a partner abroad, crispy cream has a three month shot. it should be noted that crispy cream had a great year up 100% this year and duncan doughnuts to give you an example of 40% so it is a great year for donuts overall. cheryl: one of my favorite sectors. when it comes to crispy ream, the ceo of the company, going to be is this thursday at noon eastern time, we will talk about expansion, one of the best topics ever. you don't want to miss that interview. dennis: what is bugging me is a new crusade by tech companies to take t

morgan and goldman sachs like this parasite they take using high frequency trading they gleaner they scoop or they steal cash all day long so this is again it's a very instant parasitic relationship now ben bernanke you're not janet yellen will argue that wall street needs parasites america needs parasites and jamie diamond is doing the good work of a good parasite but when the parasite gets bigger than the host as in the case of jamie diamond or lloyd blankfein the parasite gets bigger than the global economy then you have a parasitic world driven by parasitic needs ruled by parasites and that's not really help. anybody well the parasite and the host get bigger and bigger and they need to consume more more more to sustain themselves but you know look back at that image again and this is the absurdity this is exactly as absurd as the banking system is right now is like this little absurd creature sitting at a fish's tongue. you know you can just look at me when he's on the news like. you know that's to me as a parasite. you know and as money comes into wall street jamie you scoops it

goldman sachs and credit suisse have been added to add -- to help with charter's time warner bid. beyoncÉ's surprise album has smashed sales records on itunes. the self-titled album sold more than 800,000 globally in the first three days of release. it was released on friday morning, exclusively on itunes with little fanfare or promotion. looks go from music to cars. european car sales may be improving, but gm is focusing efforts elsewhere. they are investing in five plants in the u.s.. is ian us to discuss richards. he is the director of global automotive practice. also joining us is hans nichols. hans, let's start with you. europe, butm gm on using beneath the surface of these numbers, it doesn't paint a pretty picture. of europe are out decent. they show an increase. it is the third month in a row that you have had the increase. it is on the backs of spain. ceo of gm, i don't know if he had a sneak peek of the numbers, but he was bullish when he spoke yesterday. >> i think the european market is starting to show light. some are doing better than others. we have made a commitme

sachs economist jim i know well he's now created another group of imagine economy is at a set to take the global economy by storm the mint now the bric awaits knows where of course brazil russia india and china and then later joined by south africa the dream team to make it the brakes but embracing it is one of the countries have experienced disappointing growth and these countries now have some serious competition from mexico indonesia nigeria and yes the mint now i also break experts by guilds if he thinks the meant is the new brick. i mean the bricks were a category that was created. by someone of the financial system because they had in common that they have high growth rates post breaks or the stock markets dynamism. but you can extend the category of admin it's just actually adding on another group that have a similar characteristic at this particular time but that doesn't mean that the bricks lost their. trajectory in the world economy although they have all been showing signs of some weakness. in recent months because the global situation is not good and the crisis in the glob

>> general motors shares falling to more than a 20-year low after goldman sachs cut the rating to sell on a worsening sales outlook. >> that was tough. general motors. chrysler. it was a young company selling a very optional car. people do not need a $100,000 sports car. >> a popular program took the tesla roadster on a test drive in december 2008. >> this car was really shaping up to be something wonderful, but then -- although tesla says it will go 200 miles, it only went up to 55 miles. and it is not a quick job to charge it up again. >> he said he had proof that the roadster had not run out of power. he sued the bbc to block reruns of the show. the case was later dismissed. but things would get tougher. his energy company, solar city, floundered. the bank that had funded them pulled out of the deal. >> we had the worst economic climate since the great depression. it was disproportionately bad for cars. general motors. bankrupt. >> he was in the fight of his life. >> we had a week's worth of cash in the bank, or less. there was very little time left in the year to resolve these thin

we are honest, the fact of the matter is goldman sachs saved itself as a firm by putting on a $4 billion proprietary trade. forget the hedge part. it was a proprietary trade against the mortgage market in december 2006. the firm made $4 billion on one trait alone, made $17 billion pretax profit in 2007 when everyone else was going down the tubes. they save themselves. >> we are going to live with the volcker rule. how should we amend it to make it a value? >> take it, tom, move it to the wastebasket, and drop it in. >> the first thing that regulators need to do is rename the volcker rule the diamond rule because that is the only part of the statute, this regulation, that has any teeth, the hedging part. the idea of tying every risk to every trade will surely throw compliance offices around the country in these banking divisions in a tailspin. how did you do that? how do you tie specific risks to specific trades? that comes directly from the jpmorgan whale trade debacle, and that will be the real teeth of this legislation. >> as this rule becomes a reality, what actually matters most? >>

a big institutional trader like i was can get goldman sachs to buy your portfolio at a discount. knowing that if you sold them you could crush your stocks and do more damage than goldman or any big firms can do by going at it piece meal. it was what i thought a prudent decision. two weeks later, after i sold all my positions, albertson's bought american stores. it was a huge premium. gigantic. i couldn't believe it. i had held on to american stores all these years and like a chump i sold it because i couldn't take the pain. if i had added to the position i could have made my year. i always remember that moment, because it caused we to rethink how i felt about blowing out of my portfolio when i'm convinced stocks are going lower. the stock market bottomed down 2%. i didn't have the guts to go back in at the time because i was so adamant that we were going down 4%, 5%. what is the moral? what did i really do wrong? selling something wasn't a bad idea. the pain sometimes becomes too unbearable. you have little to no cash on the sidelines. selling everything, massive mistake. it's al

goldman sachs tried very hard not to lose anyone if it wanted to keep, anyone it felt it was good at, and during the time i did the tallying and the divisions records was perfect on that score. when i was first assigned to this project, i had no idea why it was so important to keep track about how few people left the firm. we were losing people left and right, but once i was in the fold i realized that the close observance of the number had to do with the tremendous cost of training people and how departures of good employees meant a total loss on an important human capital investment. goldman aspired to zero turnover because it spent six months teaching associates and they were deadweight losses to the firm. trainees were sunk costs and you couldn't afford to lose the good ones and it could hurt the profit and loss statements. few issues could be more loss. few issues could be more debilitating than turnover. teaching people better and offering them more benefits than you could get anywhere else. it worked. the firm was by far the most lucrative investment house and it still is now,

ross asked peter goldman from goldman sachs his thoughts. >> our feeling is that the long-term positive story for equities continues, that the drivers change. last year was very much about the kind of hope phase with most of the gains being driven by multiple expansions. as we go into next year, we believe that you'll get slower gains driven by fundamental profits and dividend growth. >> where is that profit coming from? how is that being generated? we only have a very anemic recovery in europe. in the first quarter, 0.1%. it looked like france is going into recession if you believe the latest set of pmis. >> well, i think there are a couple of things here. first of all, the corporate sector in europe has exposure to different parts of the world. so if you look at sales weighted gdp, it's picking up and that should generate better top line growth, moderate, but positive for the aggregate corporate sector. margins have been cyclely depressed in europe whereas they've hit record highs in the u.s. and in the context of coming out of recession, we would expect some rise in margins to drive

a very visible one on may 10th, 2006, when the big firm of goldman sachs started covering the stock. hey, you know what that means, it's become an institutional name when goldman covers it. you had two months to sell between the initiation and the stock's peak. there was good upside left, but prudence then dictated we sell once the stock had all these analysts covering it. better clear out early with the winnings than wait for it to fade away. and then hanson stocks started to cool off once it hit the critical mass of analyst coverage especially a big-time analyst of goldman sachs. because once goldman's following something, believe me, it is no longer undiscovered. incredibly after hanson fell off the radar screen, it'd gotten on to, people started talking about it. people forgot about it again, the stock -- but you know what happened, after it was forgotten and people stopped writing about it, the stock repowered higher like nothing ever happened. it was an amazing renaissance and testament that when analysts stop following a company, the company's earnings start percolating again,

keep your eye on goldman sachs. in the midst of the breakdown today, goldman hit a 52-week high. that's a sign of strength, people, not weakness. i think these stocks are saying that higher rates are here to stay. th and this is one of the few days the fed didn't try or couldn't bring rate downs. that's okay. it's time they caught up with the rest of the market and they go higher when rates go higher. the other prop, it's the transports. the holiday season is that weak. if business is that bad in this country, then this group wouldn't be able to power higher about the way it did. i'm impressed the way fedex hung in there all day that stock was already up a lot. so was the strength in the baltic drive freight index and the transport rates for oil. watch those. raw trade is getting better, not worse. i think there was some genuine fear instigated by the downgrades there are a ton of stocks that have gone up and up and up on no real news. a simple hold could crush this gain is a reminder that many other stocks we like, like disney or chipotle or facebook all up a lot could simply be

gasparino nailed i a big company like goldman sachs would have a chief risk suervise trades and make sure they would not do much exposure on trades. if they are doing this for obamacare, this is nonsense. they can add 100 people, 2500 people, it doesn't matter. there are so many that people don't notice. that's the problem with big government, it just gets bigger and bigger and you say, we just add 1% of the people. it gets bigger until it eats up everybody. >> and it crowds the decision-making process as well. they move slower, not faster. >> absolutely. >> i sure would like to weigh in on this topic. >> wel i'm not interested in your opinion. just kidding. but i insist, you have to ask yourself this, to me it sounds like after the titanic hit the iceberit was sinking, they say, we're going to bring in a new captain. well, it's sinking. what do you do? a navigator, exactly. >> i know there's lots of pre-holiday laughter here and that your job -- >> actually, no, there's not. there's not a lot of holiday mercy, but go ahead. >> my job is to defend obamacare. so i'll give you a real-l

exxon mobil among the winners within the dow 30 after an upgrade at goldman sachs. also lsi which is being acquired by avago for $6.6 billion helping to underpin the tech sector in today's session. aig finally doing the deal to sell its aircraft leasing business, selling it to air cap, the deal worth $5 billion. coming in to the last ten minutes or so, weakness in consumer staples they have turned around. we continue to see weakness in names. we're keeping watch on those. back to you. >> thank you very much for keeping the watch on them. mary thompson, straight to rick santelli. i don't need to tell you, this may possibly be one of the most important weeks of the year, right? >> i think it's going to be, but maybe for a lot of different reasons than many viewers and listeners think. i personally think the fed has been very successful on one front for the taper. and that is, lowering expectations to the point that when we do get into the minutia about how it's going to turn out it's going to be at a snail's pace, snail's pace. i think that's what adequately describes

tompkins is said to be working with golden -- goldman sachs on a public offering next year. help it to find a buyer starting in february or leave the ipo. the south korean automaker said 2013 was the year of transition for the company. welcome back to countdown. >> our next guest says it is likely the fed will taper by the spring of 2014. is idea of global director of research. thank you for joining us. dollar-yen, favorite trade of 2014. down 15%. what is going to continually drive? >> the start of said tapering is important, the big event for next year. it will be done by the march meeting. the big debate is if it could drive -- could arrive by january. , the fed will try to disconnect, the market will be uneasy that some later date tightening will come through. the dollar is quite depressed and is one of the big stories for next year. on the other side of the equation, the bank of japan is likely to accelerate its personages -- purchases of assets. we are not quite at the point where it is succeeding perfectly, and they will have to top it up. the combination of the two b

from the get go leading the way strength in energy stocks, oil higher and upgrades over at goldman sachs on exxon mobil as well as fmc it technologies. those are the leaders. the s&p leaders, deals including the acquisition of lsi for $6.6 billion giving a lift to its stock, expedia, positive comments there out of ubs which says that investors underappreciate the growth initiatives management has been taking. stock moving in response to that. monster beverage getting support from rbs which named it one of its top picks. gm, today we had positive economic data on industrial production. general motors says it's going to be investing $1.3 billion in five plants in the u.s. the stock approaching a 52-week high on that news. aig finally selling its aircraft leasing business. both stocks benefitting from that. this market is up but one thing we are watching is the yield on the ten year as that starts to move higher that could take, you know, take -- cause the markets to take a bit of a hit. we're watching that. it's been creeping higher throughout the session but the markets are holding it in.

of goldman sachs, did an interview with "fortune magazine" and he good at country is very creating wealth but not very good at distributing it and i pickinge president was up on something and you can see municipalities raising the gapmum wage, that the between winners and loserrers is uncomfortably large. thing theher president was trying to do to close the gap, going back to the healthcare law. to people who were supposed benefit the most greatly from this are the poor. outno one was saying that loud but that was going to be one of the intended benefits. because of the flawed rollout, that changed? >> well, it's too early to say was making wase that, you know, and this is all part of a week in which he has enough about the progress made on the website that he went on the offensive. he's been on the defensive for over two months. and that as he said it in his week, that the single biggest factor that causes economic insecurity for some people and prevents them from getting on the ladder to the middle class are healthcare know, something happens within their family that just literally driv

>> well, we actually did lower our estimates on goldman sachs a couple of weeks ago. and that is a reminder that the current environment today still is not great when it comes to trading activity. it's not robust. when it comes to loan growth, it's nothing fantastic. and i think that's a consistent message. so my recommendations are for the multiyear structural changes at companies such as morgan stanley. but having said that, beware of the short term, things haven't picked up so incredibly, at least not yet. >> the market appears to like your comments on morgan stanley. thanks for sharing them with us. >> thank you for having me. >>> stick around, we'll be speaking with the ceo of suntrust and getting his reaction to the volcker rule later on in the show. there's kayla tausche there, of course, and she'll be speaking exclusively with william rogers, the president and ceo of suntrust in just a bit. >>> let's talk gold, though. it's getting going today. rising more than 20 bucks. let's get the story from jackie deangelis and the "futures now" crew. >> good afternoon, s

. >> coming up, we are talking about the major ruling that could yank 30% of goldman sachs revenue right off the books. vokerocal role -- lker rule next. ♪ >> the day wall street has been dreading has finally come. three years in the making but government agencies have unanimously's open. will limit the ability to invest in hedge funds. financial market association president ken benson joins us with more on this. welcome to the show. are we going to now look at a very different kind of banking industry. >> we really do not know yet. theave a 900 page document regulators have put out that's what -- at least one thing we know is very complex. we will have to go closely to see what the new requirements are that this will replace. are very concerned about, have always been concerned about is a rule that when unnecessarily restrict the ability for firms to make circuits and hedge the risk and what the effect would be for places like ups. >> you bring up a very good point. i've wanted to the airlines as an example. you want to be able to fuel -- hedge the fuel cost. how will this affect the

i should also mention one of my other favorites, and that is goldman sachs has a trigger program for small businesses. they also have 10,000 women all over the world helping their businesses. when i did small business saturday, i walked into a store and the woman tells me she is part of these golden business -- goldman sachs small business program. we want to support a partner with these programs. there are plenty of initiatives that are being driven by wall street companies. >> tell us about your role in the white house. people know you very well, but some others don't. stories have been written from time to time that suggests that you play a shadow chief of staff role. decisions can be made during the course of the day, but then they get reversed in some way after you have gone and spoke into the president. i wonder if you could talk a little bit about exactly what your role is in advising the president and speak to this idea that you are somehow the shadow chief of. -- staff. >> i'd share the white house -- i chair the white house council on women and girls. we hope to improve the

goldman sachs took their target to 41. six total analyst changes on oracle today. a quarter after, let's go to the floor of the new york stock exchange and nicole petallides. big news from red lobster. who doesn't love red lobster. nicole: red lobster, olive garden. red lobster is the story today. the stock the downside, four, 5% throughout the day. $50.52 per share. they say they will sell or spin off red lobster. red lobster has not been doing too well, competing against chipotle and the nara, companies that do not require taping. they said don't bit, you are too complex of the company to continue to compete against the likes of cheesecake. slower openings of new branches of longhorn steakhouse and suspending expansion of the olive garden branch. the olive garden line. a lot going on for darden. back to you. cheryl: we will see you at the bottom of the hour. dennis: what is bugging me is the debate over global warming. a new level of intolerance. one side demonize the other for debate at all. science is undeniable, mankind heated up the earth and we're all going

>> goldman sachs says great at this price. ashley: who are we to argue? >> want to talk about a global company. last quarter, these are the places they open stores. paramus, new jersey. tracy: whoo-hoo. >> cleveland, ohio. west edmonton, canada. opened one in about brazil in a town i can't pronounce, stuttgart and china. tracy: more retail sales in paramus, new jersey than anywhere in the country. >> more malls in paramus, new jersey. tracy: that's true. >> you can walk from maul to mall in a rainstorm and not get wet. ashley: new jersey loves the mall. >> they are five minutes from their house. i haven't been able to get in touch with my wife at all today. >> thank god for the blue laws. closed on sundays. ashley: thank you, charles. love them all, don't you. tracy: i've been to them all. ashley: it is quarter past the hour. time to check these markets. nicole petallides also loves the mall. watching costco though, nicole. >> keeping close eye on costco, right now down 1.5%, sitting at 121.14, down a buck 83. we're watching costco closely because the num

she appeared at the meeting of goldman sachs executives. she said don't worry, i'm not here to banker bash. that era is over. banks are not all bad. that is not a wrong message. politically, it is a dangerous message for her. it doesn't jibe with the progressive anti-bank of the democratic party she will have to move left toward if she wants to have a successful presidential campaign. it is a bizarre ground for her to stake out just now. >> i'll tell you something that i think is interesting, we don't have a year of the woman, we know it is the year of women. >> exactly right. >> we keep trying to label the years as year of the woman. not yet. year of the woman comment. s.e. and carly, thank you. >>> coming up, most women hold the purse strings in the households, but men make the investment strategies. we will talk to one woman who is trying to change that. this is the quicksilver cash back card from capital one. it's not the "fumbling around with rotating categories" card. it's not the "getting blindsided by limits" card. it's the no-game-

else is coming sachs wilson of goldman will join us later in the hour. we will be discussing prophetic taper. and his outlook for 2014. ♪ >> welcome to "on the move." we are getting pictures as angela merkel is worn in for a third term this morning. it's what happened in berlin. seeing pictures of purchase a couple of minutes ago. she is there mingling with parliamentarians. this is two days before the leaders meet in brussels. we will monitor and get back to them as soon as something exciting happens. from london, this is "on the move" on bloomberg.com. dixons, largest retailer in the in., posted the first profit 10 years. manus cranny is here with the very latest. talk us through the numbers. >> this time last year, they made 14 million pounds in pretax profit. they have taken on some of their problems. what you have got here is taking away the turkish and french businesses and the leaving you with a core. you look at the geography. is about tablets. you cannot deny. cap was are going to add into the mix. -- tablets are going to add into the mix. ove

number two on the list, an interview earlier with david costa of goldman sachs. he said, 2014 probably hit s&p 1900 but you may have a 10% correction in there somehow. that's obviously getting attention of the readers. i think they're coming to check out the market and say holy cow, what is this guy saying? next stronger story, warren buffett, always a big pull for us, mr. buffet. a nice little story about him. he doesn't even want his old berkshire hathaway headquarters. they're trying to get rid of it in new bedford, massachusetts. apparently no one wants it but the mayor is going to try to get someone excited about it. those are the top ones. >> i can see them try to turn it into a landmark. i want to go back to the first story about the drone and amazon. in other words, if i'm jeff bezos trying to draw attention to what i'm doing, why not come out with the octocopter and get everyone talking about it? it is actually ingenious. >> the experts we talked to with that amazon buzz you get amazon top of mind. all of a sudden you're thinking about your christmas lis

economist atef goldman sachs, a man who knows a few things about the economy. in a moment we are going to have more from blackrock. we will get the global view from investing in one of the biggest asset managers. negotiations are playing small ball. there may be a deal but it will not be a big one. we will have that's next on "market makers." them a welcome back, i am erik schatzker here at blackrock world headquarters with an exclusive look at the year ahead from the world's largest asset manager. it is time to talk about tactics with the man i like to call the master tactician. he is head of the global allocation team here at blackrock and runs the local allocation fund, overseeing $96 billion. you can invest in pretty much anything anywhere around the world. lot of choices. right now, what looks best to you? >> the best trade-off is clearly japanese equity. the japanese market was very very good to investors in this year. we have been positive over a year. the right time. >> we certainly did. it was a combination of factors that was irresistible. growth,n, e

a buy from goldman sachs helps that. .p by 8.2%, upgrading goldman really backing yahoo! japan. you have these also rising as well. in australia, we have qantas falling once again. to junk lastrade week after the last forecast. virgin australia falling with that. singapore airlines is marginally up. unemployment rates falling to seven percent and china, exports beating forecasts. good.igures, japan not so >> thanks, john. bought more europeans bought a lot more. >> good morning, we are talking 33 point $8 million for the month of november. if you take a look at the exports, europe beating analyst estimates, rising from a year earlier. imports rising less than china did5.3%, but import a lot more iron ore. they are the world's largest consumer of iron ore that is used mainly to produce steel. assaw that at a record traders were punishing existing stockpiles. analysts are pretty happy with the export figure, not so happy with the import figure. they say it shows that global activity is picking up but imports show softer domestic demand. bottom line is this, this does pave the way

one of my last columns written for goldman sachs talk to us about what the potential. impact is if we have a global financial belt. we are seeing it in two zones across the world first of all china if the real estate bubble bursts we have a chinese population with a long history of being savers. and it will not take much to have that chinese wallet shut well maybe they will become more like americans for i know now increasingly rely on shopping least sixty percent according to nelson and they also point out that eighty eight percent of americans are very good at collecting in using that discount coupon so it seems that americans after all actually have the art of shopping and shopping in their rationale well let's let's recognize something speaking as an. american who researchers you know shopping. for american merchants we are facing the fact that in the enormous percentage of americans face the prospect of being downwardly mobile meaning that there are many. realized that they will not live the same way that their parents did and that they may have similar appetites

including goldman sachs. they were slung through the mud as well. first off, what grade you give nigella lawson and how she handles herself? >> i would give her about a b plus. she needs to understand that you never pound your own test, whether you are sitting on the standard talking to the media. she was trying to do both. by her coached more attorney than someone with a pr background. >> how? >> you should never speak as to how you look yourself. a coke user or a pothead does not look like that. >> that is one of her statement. i want to read that. the reason this is important is because everyone wants to know. what do you do in court? how do i keep my reputation in tact when i am under attack? she said that people who are regular cocaine users do not look like this. >> she was saying she was not skinny enough. are pr firms that specialize in crisis reputation. that is one of the areas that i am a specialist in. client, i would say look, people can sue a look like. it is like you telling your child that because you bought them a new holiday outfit

one of my last columns written for goldman sachs talk to us about what the potential. impact is if we have a global financial belt. we are seeing it in two zones across the world first of all china if the real estate bubble bursts we have a chinese population with a long history of being savers. and it will not take much to have that chinese wallet shut well maybe they will become more like americans for i know now increasingly rely on shopping least sixty percent according to nelson and they also point out that eighty eight percent of americans are very good at collecting in using their discount coupons so it seems that americans after all actually have the art of shopping and shopping in their rationale well let's let's recognize something speaking as an. american who researchers you know shopping. for american merchants we are facing the fact that in the enormous percentage of americans face the prospect of being downwardly mobile meaning that there are many. realize that they will not live the same way that their parents did. and that they may have similar appetite

the office at goldman sachs joins us with more on nelson mandela's impact on the country. >> a number of big stories to focus on. later today we will get the u.s. jobs reports. our markets editor manus cranny joins us now. what are we looking for? >> let's go with the consensus. 100 86,000 -- it is like this. i have looked at a couple of different reports. the consensus seems to be, when take the private adp report and the services data which was a little bit weaker, the market is already pricing in something north of 200,000. it is going to be one of those days when the good news plays in. gdp numbers were pretty good. home sales also rebounding quite nicely. exports doing very well. for me it is about velocity. and volatility coming into play as well. velocity because this year is going to be the best year since 2005. the average growth over the years, 186,000 -- it comes down to the quality of the jobs and that is possibly what is going to be reflected on more so. are market pricing in a treasury report? >> have a look at the 10 year government bond yield. near three-month highs. w

today goldman sachs put them on the conviction from neutral. yesterday jpmorgan raised the target and so far so great. stuart: do a quick victory lap. charles: as a cautionary thing people waiting for wall street to get bullish on things here is a perk example, a 57%, the smartest firm on wall street, goldman upgraded cf industries from sell to neutral. it is up 100 points in the last two years. now they think it is neutral. be careful with the smartest firms. stuart: i like those victory laps. charles: a few bumps too. stuart: it costs us a fortune. charles: probably lost that can grand. stuart: two hackers have stolen two million passwords from the biggest website, gee e-mail, yahoo! twitter, major security breach. if you have your identity stolen in this way, not your identity but or passwords, can't you sue them? problem is -- >> what are your damages? you have to have substantial damages to pull off a lawsuit. a class action suits, if you are looking at someone who's damages were $5 or $10 apiece you end put the coupons and lawyers make po

discussed with them the goldman sachs india with the owner will try to stop and get back to one month sink. white training issues. all stats and wants to increase. also was included in those discussions were had by not true corporation the two countries on the skewers he intends to stick to the india that it was attached and eight. see the i'm getting a gun is done with the two attacks predicted organizations are dying to be good on each of these sentiments i give i really didn't seem to get in of the army is still not fully fit and teams to perfect its country situation continues to be in three. got to the end of the traditional music softly show will be back next week with one knew was mia was on a not so fond of the continent. we might not be putting into effect in the beautifully in my inbox call. this is out of auction signing off on behalf of the dive production team of these weeks off a about. i am not ready. in the eye of the resorts. i'm honest the anti with me. what's next. it's a tea dance. went to school. the kids. seven you can find out. i also had smashed. speaking to th

one of my last columns written for goldman sachs talked about what the potential. impact is if we have a global financial belt. we are seeing it in two zones across the world first of all china if the real estate bubble bursts we have a chinese population with a long history of being savers. and it will not take much to have that chinese wallet shut well maybe they will become more like americans who i know are now increasingly reliant shopping least sixty percent according to nielsen and they also point out that eighty eight percent of americans are very good at collecting in using that discount coupon so it seems that americans after all actually have the art of shopping and shopping in their rationale well let's let's recognize something speaking as an. american who researchers you know shopping. for american merchants we are facing the fact that in the enormous percentage of americans face the prospect of being downwardly mobile meaning that there are many. realize that they will not live the same way that their parents did. and that they may have similar appet

goldman sachs invested almost $10 million and will profit if the program meets certain goals. 1500 teens are receiving therapy as part of the program that's designed to keep them from going back to jail once release. that's your moneywatch. for more log on to cbsmoneywatch.com. at the new york stock exchange, i'm wendy gillette. >>> on the day it opened richard nixon who at the time was vice president they eisenhower administration called it the finest ballpark in america but soon candlestick will take its place along kezar and seals stadium if you remember those. kpix 5's ken bastida got one last look behind the scenes. >>> reporter: if you're trying to wrap your head around the 49ers without candlestick park, imagine if you worked here every day for the past 34 years. >> i come in here in the morning and open up. i'm the first person here and it's just -- like i said, it's part of my life that's going to be missed. >> reporter: bob has been candlestick's locker room manager since joe montana was a rookie. back then, training rooms were a couple of padded takes and drawer handles were h

sachs to issue stock upgrades. still, headwinds persist for steel. >> steel production in china is forecast to go down. pollution controls are shutting down steel production at a rate that is considerably higher than anyone had forecast. so we think that it's going to come in for a rude awakening. >> for "nightly business report," i'm morgan brennan. >> more now on today's housing news. contracts to buy newly built homes declined more than 2% in november from the month before. but there was a big upward revision to october's already strong sales. new home sales are now running at a five-year high, but not all the housing numbers may be squaring up. diana olick explains. >> reporter: u.s. home builders are putting up more homes. and more importantly, they're selling them. contracts to buy newly built homes were running at an annualized pace of 464,000 in november, down slightly from october, but october saw a huge surge. >> it's right. there's a huge demand. >> reporter: brian coaster is an appraiser and works with

she wears a goldman sachs. for thepassing democrats have tried to make an goldman covers an issue in this debate. only one guest colleague is down one who said he -- colleague who said he will pay the penalty. >> the botched rollout of healthcare.gov may have served as a cautionary tale for other u.s. agencies. the fcc announced decided to push back its broadcast auction to make sure the software works. megan hughes reports. tom wheeler said the systems and need to work from the moment the first bid is placed. unlike healthcare.gov, he is willing to push back the timeline. the original plan was for the end of the year. in spectrum auction would be 2014. wheeler has pushed back to 2015. a new timetable will be voted on. he said "i defined the complexity of this process as being like a rubik's cube. as part of our system, we will check and recheck the software and system components." here is why it is important. sold in blocks for companies like verizon and at&t. it will be key in dealing with more and more mobil

the wife works at goldman sachs. this is valued at about $20,000. democrats are not hesitating to make this a big issue. >> thanks very much. phil mattingly, our white house correspondent. for more insight, i am joined by john, the founder and chief executive of the company that serves about four out of every five hospitals in the united states. you have a background. you founded in 1999. >> start us off. is the system that much worth 1999?an it was in >> it is predictably much more expensive. we built a cost-based assisted in 1965 with medicare. in 1967, the house ways and means estimated it would grow six times. he grew 61 times. in part because of the incentives. you cannot get paid in this country by the federal government unless he created a unless you provided some service that cost money. where is this in the terms of the cable to pay for this? >> the private sector's largest cost has been premium increases. been a remarkable amount of disposable income. in addition, medicare has become the greatest risk to federal entitlement cost increases.

be for example who calls the vampire squid to describe goldman sachs and they thought you know be fun to make the logo a giant octopus and even though it's been used over the decades to be depiction of all encompassing on the present police state or banking as they're known now and you know as far as the second part which is the which is the second part that eight trillion dollars we've spent on securing the gulf oil reserves now the reason is the strait of hormuz we're trying to protect that and the argument is looking at the fact that we've spent eight trillion dollars which would of course pay down half of our national debt in the united states it's also relying on the fact that iran itself will be totally irrational mad men with without thinking that they themselves don't need the income from oil that they themselves would not suffer from oil. being blocked from exiting the strait of hormuz now finally the department of defense responded to a freedom of information request about actually how much oil where does the oil go that leaves by the strait of hormuz where is that oil going