tv CNN Newsroom CNN May 18, 2012 11:00am-1:00pm EDT
ceo mark zuckerberg rang nasdaq's opening bell from the headquarters in california as the stock goes public. we have facebook's ipo covered from coast-to-coast here in the u.s. we have ali velshi and dan si n simons is outside the headquarters outside menlo park. facebook's price will be showing at the bottom of your screen. let's begin with christine romans in new york. give us the starting price of "fb" the ticker name. this is the third largest public offering behind gm and visa, right? >> reporter: that is right. it could be the second largest by the time all of the trades are said and done. we are still waiting for the indications at nasdaq where it could be. it looks like it will be higher,
obviously, no price there. we have not seen the trades cross yet. we are watching the matching buyers and sellers. we are trying to figure out what it will open at. there is a lot of hype about it. it can take a while to get the real sense of the price discovery of what it will look like. $38 clearly is what the current price on the board. that is what the ipo price is, fr is what we have been told. >> who is this being offered? >> reporter: if you have a brokerage account with morgan stanley or other big firms, many have a lot of shares available at the $38 price. people have already placed those orders. they are waiting to see how much the investment will net them. if you are like you or me or an average investor, you put an
order on td trade, you can see what price you will get. you will not get $38 a share. you will get a price that the market decides at the market today. >> $38. it is overpriced by certain standards? >> reporter: this is a very unique company. overpriced? something is worth what the market will pay for it. you have all of the people around the world. there was more demand than the company could satisfy. some $4420 million shares will sold. some people will sell and some people will buy. that is what the stock market is. deciding the price. this is a company that is raising a lot of money. people have the highest expectations. it will continue to make money from ads in an evolving
technology market. >> in the end, it would seem that everyone will have a piece of facebook stock. it will be one of the investments that is part of a standard 401(k) just like apple. >> reporter: i think so. this is a big popular stock. you will likely see it added into all of those big indexes. you are right. if you have mutual funds, you will be exposed to facebook just like apple and microsoft and others that are in so many portfol portfolios. >> thank you so much, christine romans. now to the headquarters in menlo park, california. dan simon is there. we saw hundreds of employees showing up to watch mark zuckerberg ring that opening bell. there is a lot of celebration going on there and elsewhere, right? >> reporter: this is a once in a generation event in silicon
valley. the valley has been buzzing over this for the past few weeks. it was a momentous event that we saw here a couple of hours ago as we saw mark zuckerberg ring the nasdaq bell. it is 8:00 a.m. local time. you normally have people coming to work. instead they were leaving. they were here all night drinking red bull having a hackathon. interesting they did it the night before trading began to send a message to the world that we want to keep their eye on the ball and create new products that users will enjoy. you have people leaving headquarters right now. it has been quite an occasion. >> dan simon, thanks so much. let's check in with ali velshi in new york. we are seeing the price at $38. is that something we should believe? unchanged right now? >> reporter: it will change. we have three indications.
they get three sources of information. the stock is about to be active. they are pairing all of the buyers with the sellers. two types of sellers. facebook the company and other holders of the stock looking to sell. it is a massive process. back in the old days on the new york stock exchange, you have groups of people trying to find a price. they want to find a consistent price at which a big chunk will exchange hands. i have conflicting information. one is that there is a chunk they have found buyers for 25 million shares or 35 million shares. the range is between $42 and $45. within moments, we will see the $38 change. when i say moments, it could be minutes. we will see that $38 change to 42 and 45. the first tick will be above the ipo price. buyers who got in at $38 will have instantly made money if they are eligible to sell.
it looks like the first indication is $42 and $45. it is just a backlog of orders. a reconciliation, fred. they don't want to start pairing 50 shares here and 50 shares there. they are trying to find the price of the indication of the value. it is a little low for the first trade. somewhere between $42 and $45. i can't tell you to keep staring at the board. >> does $45 become the cap? >> reporter: that's not true. there has been a backlog. i have been talking to people who have been trying to use e-trade or other trade accounts and they are not executes trades because we have not started trading. $45, that is a deal. that is not necessarily true it will go to $80.
will people who bought at $38 or $40, will they get out and invest in something else or people say this has longer to go. the fact it shows up in the 40s in the next few minutes is not an indication that is where it will be for the rest of the day. >> ali, it has been an amazing trajectory for this company over the years. starting out in a dorm room and now this. $104 billion is the value of facebook. after a day of trading like this, what does this do to the value of the company? how much will it impact the company? >> reporter: christine reminded us with the google, you have the pricing perfection. facebook has to perform for the next several years with the expectation of a valuable company. fred, when you compare lowe's or
home depot or ford or gm, you are comparing the price of the stock compared to how much the company earns. in that world, facebook is expensive. the price of the stock is many more times the company earns than google or apple. facebook has a lot to live up to. what you are betting on and if you decide to buy in the 40s, that is probably the first place you will get an opening to buy it, you are betting not just on facebook and what it is, you are betting that mark zuckerberg and that team and this reiteration of the internet that they represent is going to be the next big thing. if you believe that, then it's a bet. >> this is as a result of this, this company must perform. it would not offer itself in this public manner if it didn't have a plan five years or ten years or perhaps 20 years down the line, right? >> reporter: you would think. i don't know how the coders think. their minds are wired differently. it is a new way of doing business. i don't know whether they are thinking about how to improve things right now. at the road show where they go
to investors to talk about what they it wi they will do, a lot of investors talk about the move to mobile. i see it on my computer on facebook. how do they take advantage of the fact that everybody uses it on a mobile phone? their answer wasn't satisfactory, which is why a lot of investors are not getting into facebook. they say that is where things are going. that is not 20 years, that's the next few years. they don't think facebook has a great plan. the bet right now if you are an investor, they have a lot of other things right. they will probably figure this one out, too. or you will say this is the big one. if facebook can't figure that out, i'm staying out. >> you wonder who or whom is impacted the most? is it the what? the company or the invention of the company that is changed most by the public offering or the who, the founder of it, mark zuckerberg, the visionary that is impacted the most and perhaps
changed? >> reporter: i have to believe that mark zuckerberg means it when he wants to change the world over being rich. he is already richer than anybody i know. i think this is a movement. i'm not one of these guys who thinks being a public company will change them for the worse. remember when google became public? most of us knew google as a search engine. now google is making glasses and they have driverless cars and into the google plus and social networking. it is everything you need. the money you bring in, you can dream really big. facebook, these guys are really visionaries, this will allow them to dream really big. i believe their dreams are really bigger than they can imagine. i don't think it will matter all that much.
one thing, fred, this company is still controlled fully by mark zuckerberg. that is not fair. if they are a public company, shouldn't shareholders have a say? this is like being at the craps table. you are betting on the game because this guy knows how to play it better than anybody else. >> what is the worst that can happen from the public offering? >> reporter: the worst that happens, i would say look at microsoft. one of the most innovative companies in the world. after it became as big as it did, it stopped innovating. that is when apple tookover. you never trusted the iteration of the windows. they came out with the zune when the apple ipod was out. nobody bought the zune. does it keep up with expected growth rates or stay soft in the middle? facebook is young and sharp.
at some point do you soften up? that is becoming so big. >> what do you think the iterations were about the discussions involving zuckerberg and other executives considering a public offering and if it was the right thing to do? it already had blue chip status. >> reporter: that is a good question. a lot of people list because of the prestige. what is facebook care? they are bigger than most companies would ever be. here is the thing. early stage investors. facebook is a start up. they are brought by a venture capitalist. they want in for a few years and want a big cashout. some say you can have your money and go find the next big thing. if i were smart, i would sniff around where the investors are
going and i have a different crowd investing in my company for 38 or 45 or whatever the stock does today. sometimes you have to let your early-stage investors go because they are chomping at the bit to cash out. that is probably a lot of the driving force behind facebook. pressure from early-stage investors needing to cash out. you will never have the growth like you had in the early years. this growth this company will have is satisfactory for regular investors like us. it is not for venture capital t capitalists who want the big boom. >> we look at the word of $38. you see the 42 or 45. unchanged, you think of mark zuckerberg. you see how unchanged he may or may not be. the facade is wearing the hoodie while meeting wall street investors.
after what takes place today, might we see a different persona of mark zuckerberg? is there no thought to change? >> reporter: if he was going to change to impress wall street, the time to do it was two weeks ago. at this point, if the guy is worth $18 billion, why change? a number of people said the trading was supposed to start at 11:05 a.m. here is what is happening in the back ground. there are bids for money. some have a market ordering. i want shares of facebook no matter what they cost. there are people who hold facebook stock and they are trying to say i want as much as i can get. somebody is willing to pay $200. somebody else is paying $35. >> it is the deeper pockets? >> reporter: yes, that's right. the exchange are trying to reconcile this so you don't see gyrations on the stock as soon
as it opens. the first price you see when it moves from unchanged, it will be a green arrow. it will be a stock that represents what many people are buying at. we are looking at the range of 25 million shares to 35 million shares that they reconciled at a particular price. what they are trying to do is reconcile as many shares as possible so the first trade represents 50 million shares and is a solid price so you don't have crazy volatility. there are bids and asks. as soon as they reconcile this, it is taking time because of the volume of shares and volume of trade. you will see that move and my indications from traders i'm talking to is it will be somewhere above $42. probably somewhere around $45. in that range. 42 to 45. it will be open for the market. you can get on e-trade or scott trade or whatever you want and
start putting in bids and ask. it can go anywhere. it looks like the first trade will be up and by several dollars. it is hard to look at a screen that says unchanged. better than looking at me. >> lucky for us. >> reporter: this is the watched pot. this is exactly the watched pot. the watched stock exchange doesn't trade. >> wow. fascinating stuff. ali, keep us posted as perhaps that number does trade. more on the ipo of facebook. tre's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription.
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it's a historic day. 421 million facebook shares are ready for share. alison kosik is with us for the update. what is happening in the back room? >> reporter: everybody is chomping at the bit waiting for facebook to open business. open its doors to the public. you see the unchanged. the unchanged, once those facebook shares go on the market, that will change to a percentage or a number. that 38, most likely is going to change. it will most likely go higher as the buyers and sellers enter the market fast and furiously. these trades, most of them, are
done electronically. those trades are done in seconds. >> what is this figure predicated on? >> reporter: the $38? >> yes. >> reporter: so that is dependent on what the demand has been. facebook has been going on this road show for the past few weeks and it found out there is a lot of demand for facebook shares. investors want to buy in. when there is a lot of demand, that gives the incentive to raise the price more. it is simple supply and demand. yesterday before the close of the session, we found out that -- we had known the range was between $34 and $38. after the bell, we found out $38 was going to stick. that is at the high range because the demand is tremendous. >> if that number rises between $42 and $45, how instant is that? >> reporter: it is instant.
we are in the age of electronic trading. i would not be surprised of it going up to $45 or $50. >> poppy harlow is with us. pop poppy, what are you learning? >> reporter: it is interesting when you look at this, i have never experienced such a hyped ipo. i think ali hit on it so well when he talked about the company and what it is betting on. i would say there is a lot of attention. i had a lot of people saying should i invest in facebook? i want to talk about the challenge ahead for facebook. that is and ali touched on it. mobile modernization. they have almost 500 million of them have moved over to mobile. people like me and you. we use it on our desktop. they changed their public filing documents last week in the middle of the road show to say that more people are moving on to quickly more than the ads can catch up. that scared off some potential
investors in facebook. that is something they need to figure out. they talked openly about that. some people called it a massive opportunity for them. other people say this is a big roadblock to the growth. it is something you have to consider. how do you keep this going as a public business that has to now give its numbers to wall street every single quarter, every three months. that is a luxury as a private company, they did not have to report their financials. something to think about. remember what is ahead. the company needs to keep growing and make a lot of money. the people to do that are the best out there. mark zuckerberg and sheryl sandberg. >> the number is at $38. unchanged per share. we will find out momentarily if that number will change and if so, at what cost. the best part of any great meal?
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we'll keep you posted. also this hour, the fate of john edwards is now in the hands of the jury. this is john edwards arriving at the courthouse a short time ago. the jury is deliberating if john edwards used campaign funds to cover up an affair. edwards' attorneys countered that the money was a gift and that edwards was guilty of nothing more than than a bad husband. he faces up to 30 years in prison on six counts, if convicted. we a we are monitoring the action in the courtroom. we will bring you the latest on cnn. police have now arrested this monday in mississippi. 28-year-old james willie. investigators believe willie is the alleged gunman behind the
murders of these two drivers you are about to see, who were both found dead along state highways just 55 miles apart. authorities say they found a semiautomatic handgun that links willie to the two shootings. warren strain is with the mississippi department of public safety. he joins us now. warren, how did willie get caught? the suspect? >> good morning. he was being held in tunica county just outside of mississippi. on an unrelated charge of rape and assault and kidnapping. he had the weapon on him. of course, we knew the caliber and had a good idea of what the make was. we expedited that through the state crime laboratory. sure enough, it came back as the murder weapon. >> what more do you know about
the suspect james willie? >> he is no stranger to law enforcement. he will make his initial appearance in the next day or so on capital murder charges. he will be formally charged later today in the case. >> investigators said the suspect initially may have been posing as a police officer. is that, indeed, the case? >> we were very cautious through the course of the week and say that is a very plausible scenario. we want to make sure that the public was aware that there was an option to call 911 if there was any doubt that a legitimate law enforcement officer was initiating a stop. we wanted to make that information available. if we had not done that and he were to have been using or impersonating an officer and using that as his m.o., so to speak, then we would have had another set of problems.
if we err, we err on the side of public safety. >> warren strain, thank you so much. mississippi authorities will hold a news conference of willie's arrest in less than two hours. we will bring you the details when they happen. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers.
welcome back. welcome to the international viewers as well. facebook was to begin its trading about 25 minutes ago. now finally the moment has arrived. i have with me christine romans and ali veshi with me. christine? >> reporter: it opened at $42.05. ali's sources matched that 42 to 45 range. this is the feed behind me. you see it is up more than $3. that is an 8% advance. there is more than 400 million shares here that are set out here that matched up at $38, the
ipo price. now comes the volatile part where you match all of those shares with buyers and get that worked out. the "wall street journal" and "bloomberg" reported trouble. that is why you had more of a delay. we knew this was a big ipo with a lot of demand. it often takes a while to get the price discovery mechanism in place. this is what the nasdaq is telling us now, this fb facebook shares are trading for. we know that $42.05 was the opening price. >> christine, thank you so much. let's go to ali velshi. ali, what was the glitch about? >> reporter: most likely volume. traders reporting trouble changing or cancelling ordersor. we heard from investors having trouble placing orders.
it just could be the amount of interest. we know this was oversubscribed 20 to 1. there was demand for 20 times the number of shares that were offered. there were a lot of shares offered. we have seen this, fred, on single transactions or single stocks, where there is so much demand on the upside or down side that it causes delays in the system. we are not sure what the delays were. it was a delay coming in. here is what is interesting. the stock priced at $38, as you and i discussed a half hour ago, the indications were it would open at $42 or $45. it opened at $42.05. it is down from there. that means something has happened. you are not seeing that immediate upward momentum. this now has been trading for a few minutes. there is probably such a backlog of trades right now that i would not read too much into what the stock is doing. i would give this a couple of hours before we have a sense of
is it settling lower than what you call the print? the first trade at $42.05 or settling higher than that. the $38 trade is now history. that is what the wealthy traders got in on. the issue is the print. the first trade at $42.05. does it now end the day higher than that or lower than that? that will give you the sense of whether the broader market, everybody involved in this thinks this has a long way to run, or not. the estimates we heard from people about where the stock might go on the first day have been more in the 50 or 60 and some people have said higher, that range. to see it trading at $40 a few minutes in is lower than we expected it would be. as i told you a half hour an ago, we expected to see a trade above $42. i wouldn't have guessed a few minutes in we would be lower
than the first print price. something to keep in mind. we know there is a backlog and we know there is some difficulty in reconciling orders. it may be a technical problem. we don't know if that is based in the nasdaq. it lists on different exchanges and traded on different exchanges. we are looking into it. because of that, this may not be an accurate reading of where the stock will be in a few hours. >> what are the conditions that could hike the prices further from this point? >> reporter: from this point, it is just demand. we don't know all the institutions. we don't know how many people are sitting there and watching at the offices and trying to get an order in through an online trading organization like scott or e-trade or schwab. that can influence the price. at $40, that is a deal. i heard it was $80 or $90. let me get in on the deal.
this is where it becomes a mugs game. you never want to trade the stock because of how the stock is trading. that is momentum. you don't want to do that. that is very '80s. you want to trade on based on if the stock is worth $40 or 50 or 60. do you think it will be worth more when you go to sell? those are the decisions we have to make. we are still humans. people who thought it was going to be 60 out of the gate are thinking at 40, should i buy? >> ali velshi, thanks so much. >> reporter: okay. ♪ [ male announcer ] you're at the age where you don't get thrown by curveballs. ♪ this is the age of knowing how to get things done. so, why let erectile dysfunction get in your way?
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to our viewers in the united states and around the world, this is coverage of the opening of facebook. you are looking at it right now. $40 on the nose. a gain of 5% from the ipo price of $38. i have to tell you, some analysis we have been making here for most people following the stock. this isn't great news for facebook. this is a lower than expected increase from the initial price. the worry at this point is it is $2 higher than the price it came out at. as it approaches the price the underwriters, the major banks who sold the stocks, they may do something. it may be a backlog of orders. there is a delay in the opening of trade on facebook. much longer delay than we expected. it seems to be related to some
sort of delay at nasdaq. it may be technical. it may be the backlog of orders. the stock is not moving actively at the moment. that indicates maybe a jam up in the pipeline. let me bring in christine romans in. christine, we have been studying the price and comparisons to groupon and zynga that opened high and came down. >> reporter: fizzled. >> we talked about this on the first day. nobody that you or i talked to suggested $40. >> reporter: no and here is another thing. you have 400 million shares that are brand new and digested. i want to caution you in the first moments of the printed trade. we have a long day and long way to go. we don't know if it will keep going up. we don't know how many people, ali, are selling it.
a quick point of trading at 40 right now. look, it is $44 is what it was trading privately before it became a public company. that would suggest maybe they priced this thing at perfection, right? a lot of other companies have gone public before, ali. gone public not at the top, but with lots of room to grow. google raised $2 billion in august of 2004. that price was actually $85 to $95. microsoft's ipo was $21 a share. the apple ipo, all the way back in 1980, $22 a share. about $100 million raised there. a lot of comparisons so google. a lot of people comparing it to google. >> we are getting word that
zynga stock has halted after plunging 13%. the fact we are early in the day and this is having an affect on other tech ipos. the stock has been halted. we are calling the company to figure out why zynga has been halted. zynga and groupon are the two companies we are comparing. zynga and groupon had a pop and dropping below. i don't know the story with zynga. as facebook debuts, we would describe as a disappointing debut for facebook stock. zynga has halted. it dropped 13%. christine, the issue is two-fold. you said $38, the ipo, the high end of the second range. that was priced for perfection. maybe the market agrees with you. >> reporter: it is interesting.
the company has a lot to prove. this is a company that has to prove it will be able to get into the chinese market and continue to grow and continue to make money from our privacy and partnerships and networks we're making. you called it the second transformation of the internet. how do you modernize this? other people compared it with eastman kodak. eastman kodak had a long history. what will it do next in the fast-growing economy? so, i think this is just the beginning of the facebook story, ali. it has been an amazing story to hear, but this is the beginning of the facebook story. >> christine, stay where you are. we are going to the stock market and go to alison kosik when we come back. it will be an interesting ride for the next couple of hours.
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we have full coverage on this. you are watching to our viewers in the united states and around the world, special coverage of the facebook ipo. that is not working out the way the underwriters expected it to. the price of the stock was $38. it opened at $42.05 and has done nothing but go down from there. there was a remarkable delay at the nasdaq. we don't know what it was about. this may be the volume of trading, christine. it may have taken a long time to get the stock out. >> reporter: there was something like 80 million shares traded in the first 30 seconds when this was out. 80 million shares. you think there is more than 400 million shares that have to be matched with people to due them. the company is selling 400 million shares. buyers for all of those. it is remarkable, really.
you will see this getting closer to flat here and turning lower. there were a lot of investors in the company who thought they were going to be and some today cashing out and making a boat load of money even at $38.10. >> there you go, christine. getting very close to $38 as we speak. this is having a follow on effect on the nasdaq. zynga, one everybody has pointed to. we are investigating. the report is zynga stock has halted the stock has been halted after dropping. keep staying on the story. i want to go to the nasdaq where alison kosik has been trying to find out more about what we think went on why there was a delay. two stories going on right now, two stories, alison. one is what's going on with the price of facebook, which is now just about to cross below the offering point. that is just not good news for a tech opening. but what was the delay? >> and that is really the
question. we have been on the phone with nasdaq officials. we have knocked on their doors literally. they are not commenting on what happened. we can report what other reports are from "the wall street journal," for instance, saying that these traders had problems canceling trades, i'm talking about facebook. but it's an interesting development to see that zynga trading has stopped. i'm hearing a circuit breaker kicked in. basically too many sell orders were going in so it basically was falling too far too fast and that's when this circuit breaker kicks in, stops trading with zynga, and, remember, zynga accounts for a big chunk of facebook's revenue. it's an interesting -- >> poppy, i'm coming to you with that. >> to see that zynga shares with been halted. >> we have moved to unchanged. i don't know whether -- we got it unchanged again. don't know whether that's the underwriters getting in and not wanting it to go below the offering price because that's just generally an embarrassing situation. zynga, poppy harlow is in new
york as well. let's just talk about this for a second. what is zynga and why does it matter? >> it's an online gaming company. it matters because it's very closely tied to facebook. it had a billion dollar initial publish offering last year. 90% of its base is tied to faceville. when you play a game like farmville, you can play for free and people buy additional things. 30% of the money from that goes to facebook. it is so closely tied to the base of this company, and that's why it's fascinating to see the sell-off. i'm reading through twitter. one person tweeted maybe people are getting out of zin ga because they can get into facebook. i also want to get to a comment from an investor we know, mohammed alarian. he just e-mailed me and said, way too much hype, talking about the facebook ipo. he said the small investor could get hurt. the reason i say that is because
it's important to look at this more than hour by hour, more than day by day, really look at it year-over-year if you're getting into this as a long-term bet. our viewers be looking at this from a long-term perspective. get to know the business, read about it before you get in or out of something like this. just important to know. >> so arguably if he's right, this might be a better deal than those people who thought they were getting into facebook at 60 bucks a share. >> there you go. >> we're going to continue to watch that. one thing i want to tell you about when we come back, alison kosik mentioned that zynga may have been halted because of something called a circuit breaker. i will explain what that is. it's a market mechanism for stopping a stock from going down too far. zynga, which is very closely tied to facebook, has plunged on this not particularly auspicious opening for facebook, but, again, early in the day. could be a backlog of trades. we are going to stay on top of this and watch it very, very
closely, and as poppy said, day trading isn't really the sport here. the idea is what is actually happening to facebook. to our international viewers, we'll return you to our normal programming. for your u.s. viewers, we'll take a quick break and be back with fred whitfield on the other side. urning. use our strength & stability to open new opportunities. to lend, and lift ...every business...every dream... to new heights of prosperity. good things are happening. just look up. with u.s. bank.
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we're also watching other news, including this, two major events we'll be watching in the u.s. this weekend with important international significance. the nato summit in chicago and the g-8 summit at camp david. in chicago protesters are already on the streets days ahead of sunday's nato summit. extra police officers have been brought in from places like philadelphia and milwaukee to beef up security. president obama is playing host for the g-8 leaders. financial problems in europe will be the major topic of discussion, and right now the president is meeting with the new president, francois hollande. besides the global economy, they are expected to spend a lot of time talking about the future of french troops in afghanistan. and kids and parents in north georgia are scared. police are looking for a man who was seen trying to take a shot at a school bus. he fled when a resident ran after him and left this rifle and a list of school bus numbers behind. now some parents are afraid to
let their kids ride the bus to school. police are now escorting buses in the area to school until a suspect is caught. much more of the cnn "newsroom" continues. i'm fredricka whitfield. suzanne malveaux is up next. what we achieved here. what we learned here. and what we pioneered here. all goes here. the one. the accord. smarter thinking from honda.
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offerings in history. they began trading about 30 minutes ago or so. earlier the founder, mark zuckerberg, rang the opening bell remotely from the company's headquarters in men lolo, california. alison kosik is at the nasdaq market site with a look at the stock. ali velshi has the big picture and what this means for the broader markets and for your money. want sto start facebook shares have been mostly flat at least for the last few minutes. alison kosik watching it at nasdaq there. give us a sense of what's happening and how are people trading? >> tell what you, jaws are sort of dropping. it's certainly not what everybody expected after all the hype that facebook had leading up to this public offering of facebook shares. as you said, shares right now are up about 1.34%. that's not a whole lot considering how much interest has been generated about buying into facebook shares. now, one interesting thing, there was a bit of a delay
before these shares opened up to the public. i just talked with one analyst who said what he suspects happened is that morgan stanley, the chief underwriter who was finding all those institutional buyers, those investors to invest in facebook, that they couldn't find enough buyers for all the sellers that were in the market, and usually what has to happen is they have to be matched. you have to match a seller with a buyer and a buyer with a seller, and there just weren't enough buyers to match. he also said to me that, you know, take a deep breath here, we're still in the first pretty much half hour to an hour of trading of facebook, and really you shouldn't get in in the first half hour or the last half hour of any trading and to let this really just see how this plays out. did he say that he is seeing record high volume in facebook shares right now meaning the trading. right now trading is at a record high of 200 million shares being traded. >> wow. why didn't it start at 9:30? a lot of people were wondering what was the delay? >> exactly. exactly what i said, that
everybody is sort of suspecting that morgan stanley, the chief underwriter in this deal, couldn't find enough buyers for all the sellers, meaning before the shares were opened up to the public, all of those sort of institutional buyers, the investors and any kind of people who had portfolios that met certain requirements, those people who got in on that ipo price, that initial offer price of $38, they had already put in sell orders. the problem is as morgan stanley, that chief underwriter, couldn't watch a buyer to those sellers. so that's why that delay was happening. morgan stanley was trying to find more buyers because there weren't people lining up to buy into facebook as expected. >> and you have the big brokers investors first in line. what about individual investors like, say, you and i? >> as far as whether or not we should buy into it? >> yeah. i mean, it's still -- it's very early in the game but, you know, i'm going to call my guy and find out. >> you know what? the best thing to do is sort of take a deep breath with this, especially since you see how the
sock is trading right now. it certainly is trading below expectations. you know, all this talk about facebook, there was an expectation that this stock was going to shoot up right out of the gate. that clearly did not materialize. so i would say take a deep breath before you invest at this point. >> all right. everybody is just taking a deep breath, just holding on here. alison, thank you very much. critics say facebook stock offering is more hype actually than history, and perhaps it's being reflected in trading so far today. want to bring in ali velshi. ali, some of this frenzy that all the hype seems to be fizzling a little bit. do we know why? >> so alison was saying that it's possible that the underwriter, morgan stanley, couldn't find enough buyers. remember, there's always a buyer at some price, right? enough buyers at the price they wanted. christine romans has been pointing out that this thing was priced -- there was a $28 to $35 range and then facebook upped it to $35 to $38 and they came out at the high end of the range which many people have said unlike google when it first came
out, this is priced to perfection, which means this is priced so that facebook will perform at the rate of growth it's had for some years out and there have been criticisms that maybe it can't do that, specifically, fred, because of the move toward mobile devices. every time i put this up on tv i get tweets about people wondering why i use a blackberry. maybe the issue is facebook didn't answer those questions sufficiently. it's not below the offer price, so it's not terrible, but generally speaking you expect more enthusiasm out of the most hyped ipo -- probably the most hyped ipo most people have ever heard of. it's problematic it's trading where it is right now, but it's unclear as to how much this delay at the nasdaq and this delay in opening up the trade had to do with it. again, i think what alison said and what poppy said makes a lot of sense. if you're the average investor, you're not a day trader, don't concern yourself too much with day one. many people have said even if you want to get into the stock, wait a week or month or whatever the case is. this is just not the most you
a -- you a punisha auspicious start. this could be a good thing. it gives you a sense of what the market thinks the stock was worth. we talked to people who thought it would end up at $50 or $60 at day one. if it ends up in the neighborhood of where it started, maybe it tells you that $38 ipo price wasn't that bad and you have a few days to think about it. for the average investor, you should sit and watch, watch what happens, watch what unfolds over the course of the next few hours. if you thought you were willing to buy it at $50 or $60, you might still be willing to buy it. i don't think there is an indication that there's something wrong with this company. it's still a $100 billion company. this is still one of the largest ipos in the history of the world. and it's still a game-changer, it's just not where we thought
it could be. >> it could still end up in your 401(k). >> right, because your mutual fund manager or your pension fund may have been one of those people who got in on the ipo and is busy sticking it into your 401(k) right now. it's always the same advice, fred, even if you thought you wanted to buy facebook, i would say to you never make anyone's stock more than 5% of your portfolio -- i'm sorry, suzanne, i have been rushing through this day so quickly. it's always important to not make one stock too big a part of your portfolio. if it's 5% of your portfolio, doesn't matter whether it's 39 bucks or 44 bucks. it's not going to crush you and not make you a millionaire. it diversifies your portfolio. not worth getting too excited about, but i follow business so this is exciting to me. >> it's exciting for all of us. ali, thank you very much. ali, alison, as well. here is what we're working on for this hour. >> the nato summit hits chicago. inside they're talking afghanistan, and outside they're
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no rest for president obama this weekend. he's not only hosting the g-8 he's welcoming 60 world leaders to chicago for a large scale nato meeting. here is francois hollande arriving this morning. there are a couple new faces, the prime ministers of italy and japan, and the president of russia certainly not a new face but he decided to skip the summit this time. we want to talk about all this with michael holmes. i think i have covered about eight to ten of these over the years, and generally speaking long discussions, short on action really. so there is a sense of
frustration and questions, debate about whether these are really worth it. i do think this go around we have some hot issue that is are going to make some waves. first of all, when you talk about the debt crisis and europe and greece. >> absolutely. there's long been criticism that the g-8 is just a talk fest, they get together, have high-minded conversations and they go home and nothing changes. this time around and at the serene setting of camp david, i wonder who is going to get which hut. >> they're cabins, not exactly huts but, you know. >> yeah, the big thing is going to be the european debt crisis, greece in particular, of course, but a lot of people very worried about spain, italy. mario monti is there for the first time. the japanese premier as well, and that guy there key, francois hollande. he's a fiscal and ideological made as we would say in my country with the president, with president obama. he's a guy that's more into the growth than just austerity and,
of course, he's butting heads with angela merkel in germany about the austerity measures. one of the important things to remember from the president's point of view, baps what happen europe is not irrelevant to what will happen here. >> how do you think the new players will shake up the dynamic. it's a small setting. they get to know each other relatively well. they get along, they have these side bar conversations which is usually where the real work gets done. now you have new folks in the mix. >> angela merkel when she was mates with sarkozy, the predecessor to hollande, they were on one page when it koum to the austerity measures. now you have a guy there saying, yeah, not so much. we need a growth element to this, too. merkel is the one who is little bit on the out now and of course, president obama is always favored spurring growth as well as cutting back. so it's going to be a bit of ganging up on angela merkel i think. europe and the u.s., we talked about this before, their relationship is key.
a third of the world's trade is between the u.s. and europe. the u.s. does three times more trade with europe than it does with china. europe starts to go south, it hurts us here and it hurts -- >> i want to show our viewers. this was president bush and angela merkel, it made a little news there because it kind of showed the relationship, if you will. she cringed at that moment. everybody said that with the little shoulder massage, very awkward, but it was a time when these two were getting to know each other. that's really one of the thing that's so important is the kinds of relationships that these leaders develop. >> it's first time actually -- >> when you look at hollande and look at obama, when you look at monti and obama, do you see them getting along? >> i do. i see hollande and obama getting along absolutely. monti is a bit boring. he's a technocrat. he's a man that's just about the numbers and going very quietly about it. in the ideological sense i think
hollande and obama will be very, very close. and the other thing to remember, you pointed this out, too, putin not being there. >> what is that about? >> you know, it could be about a few things. it could be -- the protests we talked about in russia before and after his inauguration. a lot of people think he's sort of messing with the system to be back there for the third time as president. a lot of people think that those protests are getting bigger, by the way, and that he might want to stay home to keep an eye on that, but he's going to the nato summit. the other thing is he's sending a political message. he doesn't like the way things are going, particularly with the european missile program, defense shield. he doesn't like that, and he's sending a message to obama that, you know, i'm not your lap dog. conversely a lot of people would say obama wouldn't be too unhappy about that because the republicans have portrayed obama as a puppet of putin. if he's there with the more western friendly medvedev, he would probably be happier with that photo. >> we've heard from mitt romney,
republicans saying russia is one of the most dangerous threats. >> that helps relations, yes. it's going to be interesting. a busy weekend. they go from there to chicago for nato. >> absolutely. >> another big talk fest. >> i love this stuff. it's not so boring to me. >> it's in your whooel houwheel house as they say. >> we are talking bruises, blood, drugs. new evidence coming to light in the trayvon martin case. what it means for the man who shot the unarmed teenager. at bank of america, we're lending and investing
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we're been poring over newly released evidence from the night trayvon martin was killed and what the shooter, george zimmerman, himself claimed was defense. now, the surveillance video is among the images released by florida police and it shows the teenager wearing a hoodie, buying skittles and ice tea at a neighborhood screens storconven. this was moments before he was killed. john zarrella is joining us live from miami to talk about what we're seeing in the photos. let's take a look at the new photos of zimmerman taken at the sanford police station shortly after the shooting. you see the cut on his nose as well as a gash in the back of his head. these are things that were not
seen clearly at the police station video, plus we're also getting some new sound from witnesses. what stands out to you in all of this when you take a look at these pictures? >> reporter: right, suzanne. that's exactly right. i think a lot of this validate what is we had heard earlier about the kind of bruising that zimmerman claimed to have, about what the police said that his head had been bloodied, that he perhaps broke his nose. it appeared he had a swollen, perhaps broken, nose. in a lot of what we're hearing and some of the audio recordings that were released as well yesterday are pretty riveting. one of the witnesses talking about the fact that, you know, they all heard the cries for help. they all heard the gunshot, but none of them, the witnesses, could see exactly what happened at the moment that it happened. but one of the witnesses in particular talks about what he saw when he looked outside.
>> when i first walked out there, the black guy was on top, and the only reason i can tell that was because the guy that was on the ground under him at that point wrestling was definitely a lighter color. >> reporter: of course what we're hearing is after this the man goes back inside, hears the gunshot, and when he looks back outside again, the man who was originally on top doing the beating according to the witness statement is the one who is on the ground lying there dead. suzanne? >> and you have new information from the toxicology report as well on trayvon martin's remains, and i understand that they showed drugs in his system at the time of his death? can you explain? >> reporter: yeah, traces of thc, which is the compound in marijuana, but we're being told by a lot of experts don't read too much into that because blood levels of thc are not a real
good indicator. they can be in the system for five, six, seven days after someone might have used it. >> do we know anything about how the police are describing what happened that night? i understand that they are now saying this was alternately avoidable by zimmerman. what does that mean. >>. >> reporter: there's a document they attached to the arrest warrant document and the paperwork that gives them the arrest warrant, and in that paperwork it says that had he stayed in the car, had he waited for authorities to show up, the police, after those 911 calls were made and they said you don't need to follow him, had he followed those instructions, they're saying that what happened, the confrontation, the shooting, was ultimately avoidable. and they use that rationale, those documents to get the arrest warrant that led to zimmerman's arrest. >> john zarrella, thank you very much. the super pac election, we'll show you how independent groups are changing the shape of
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with u.s. bank. it's unbelievable video. syrian students rescue a friend who was wounded by men wearing security uniforms. they load him up in the back of a u.n. observer suv, and as they drive along the street, you see what appears to be more security forces attacking a civilian. you see them beating and kicking this person. cnn can't independently confirm the authenticity of this video but syria's crackdown has been ongoing for 14 months despite the rest of the world condemning them. police in atlanta are trying to find a man who pointed a rifle at a passing school bus.
witnesses say he was crouched in the backyard of a home. someone tried to chase him down but he got away. he apparently left a note at the scene containing school bus numbers. police are escorting school buses. parents and students, you can imagine, they're on edge. >> i have two kids in the clayton county school system. i'm just a little nervous and scared. >> it's crazy. it's crazy and he needs to be caught. >> i don't want to go outside anymore until they find the person. the facebook frenzy fizzling just a little bit, at least for now. facebook shares began trading on the nasdaq exchange within the past hour after rising 11% to horn $42 a share, stocks started dropping, hovering around the initial price of $38. facebook debuted as one of the stock offersinings in history. joe ricketts said he pulled the plug on a proposal for super pac campaign against president
obama. it would have linked the president to his former poster, the reverend jeremiah wright. so who is joe ricketts, the man helping fund the super pac? he's the founder and former joe of brokerage firm td ameritrade. his family owns the chicago cubs. want to bring in our political director mark preston to talk about this. how big a player is he when it comes to republican politics? >> he is certainly no koch brothers which is a name we talk about often when we talk about outside money and the incompetent influence of these millionaire and billionaires who are trying to have some say in the election. he is somebody who is known in republican circles and he's kind of a complex figure. not only has he started to get involved in conservative politics over the past couple years, but he's also given a donation to a group that tries to defeat incumbents, including
republican incumbents. you know, one of his spokesmen describes him as a fiscal conservative and says that he's a registered independent. so joe ricketts, one of these really interesting figures right now we're seeing really come out in the wake of citizens united, which was the ruling that allows these billionaires, these corporations, and even labor unions to spend millions of dollars on this election. >> and, mark, is it plausible, is it even feasible that he didn't know the super pac was going to use jeremiah wright when he pulled the plug. is it ignorance or pressure? >> it's certainly not what you wanted to have come out if you have a company like ameritrade or if you own the chicago cubs. but this isn't a proposal that was actually about to be put into action. it was a plan presented to them. they were considering it. they said they were looking at other plans. i guess we have to take him on his word for that. what's interesting though, and i was talking to somebody close to the romney campaign last night,
in many ways this story that came out yesterday is very good for the romney campaign. and for this reason and this reason alone. it defused it very quickly. it defused it in the month of may. if this were to go into action when the plan was to have it come out in september, can you imagine the backlash that mitt romney, suzanne, would have to take having to explain away why we're talking about jeremiah wright when we're facing all these tough economic conditions. >> sure. talk about what do we think the impact is of these super pacs. we're talking about millionaires and billionaires who really have had an amazing influence so far on the direction of this campaign. >> yeah. it's not even these millionaires and billionaires, we talk about the koch brothers, mr. ricketts. and the money from labor unions. in many ways it's going to be very good for the candidate. we saw the republican primary, we saw the super pac aligned
with mitt romney really crush newt gingrich in the florida primary. we saw rick santorum boosted by his super pac and newt gingrich who was basically funded by the billionaire casino mogul out in las vegas who funded a super pac that kept gingrich's campaign alive. the bad for super pacs is you can't control the message. mitt romney or barack obama is not able to coordinate with these super pacs. you can't control the message, and what we saw yesterday was the romney campaign not able to control this super pac message had it actually been executed. >> they certainly learned the hard way there. and, mark, i understand that ricketts daughter laura, a ironically an obama supporter. >> this is what's great about american politics. you have this wealthy family who is very involved in politics. you have mr. ricketts, who is very conservative. laura's brother, pete, ran for u.s. senate as the conservative nominee in 2006. he lost, but you have laura
ricketts who has given a lot of money to barack obama. she is openly a lesbian. there doesn't seem to be any friction in the family. and the fact of the matter is she's given a lot to democratic causes, and i have to say, we were just showing that video out of syria where you have this crackdown and this violence and upheaval over politics, but here in the united states for all the problems we have, even if it is super pacs, we don't have that, so i guess we have to be happy about something. >> diversity in everybody's family, always been interesting thanksgiving dinner. mark, thanks. good to see you. >> thanks. there is a disease that eats its victims alive, and we're wondering should we be worried about it? we'll take a look at the science behind the hysteria. you know, i have done something worthwhile. when i earned my doctorate through university of phoenix, that pride, that was on my face. i am jocelyn taylor.
student is going to lose both her hands and remaining foot. elizabeth cohen is here to explain. a lot of people look at this and just go, god, not more, not more suffering. what is happening to her. >> it's interesting because the way the father frames it is that this was actually a relatively easy decision because he wants to save his daughter. he will do whatever it takes to save his daughter, and if doctors say that she's got a better chance of living without those hands and without that foot, that's what they have to do. now, she is still in critical condition. she is still very sick. a piece of good news is that she got her breathing tube removed, and a breathing tube goes down the throat and it makes it very difficult to speak. she's going to have a tracheotomy instead so it will be easier for her to speak. she's very happy about that. the great news is that she is aware and awake and communicating. that's huge. >> she is aware of what's happening to her. does she realize she's deteriorating in some ways? >> in some ways she's not
deteriorating. her life was in danger at one point and now she's much more with it and they're less worried about her life and more worried about these limbs. she's aware of what's happening to her. so, for example, before they had the surgery, her parents brought her hands up in front of her face to make her understand that her hands were purple and that they would need to be amputated, and her father said that aimee said let's do it. that it was very clear that she understood that it was necessary to save her life to remove these hands. >> and she is in control over those kinds of decisions. she's able to weigh in and let them know. >> it sounds like it. it sounds like it. i think that she -- i mean, i think at this point she's probably being told, hey, this is what we need to do, but she understands what's going on. she gave her agreement. that's pretty amazing considering how much sicker she was not so long ago. >> and how is her family holding up through all of this because this just seems so tragic. i know you say it's good news because she's going to be alive but it seems like piece by piece it's just so horrific.
>> they are so relieved that she's alive, and her father wrote one of the most moving things on this facebook page that i have ever read. so i'm going to read it to you. it's long but i'm going to read it to you in its entirety. he wrote, when they made the decision about having to do these amputations, he said a tear rolled down my face as i walked out of her room. i wasn't crying because aimee was going to lose her hahn and her foot, i was crying because in all of my 53 years of existence, i have never seen such a strong display of courage. aimee shed no tears, she never batted an eyelash. i was crying because i am a proud father of an incredibly courageous young lady. >> that is so powerful. >> he has been so amazing. to get your daughter through this and to also recognize that your daughter was very sick and needed help. what an empowered patient, what an amazing father. i just -- >> and really a message of hope. you know, when i first saw this story, i didn't see it that way at all, and that really turns it on its head. you really realize there is something that is good,
inspiring out of this. >> that is so true. when we talk to her father, he doesn't sound beaten down. he sounds like i am going to save my daughter and we are going to do wharf tever it take. >> we wish them the very best. throughout the city's history, chicago no stwraranger protest. how police are hunkering down now for what could be a violent backlash to the nato summit. and a woman manipulates a robotic arm using only the power of her thoughts. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites.
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business owners in downtown chicago are boaring up the windows, bracing for potential trouble. that is because the eyes of the world are on chicago this weekend for the global military and security summit. police are preparing for protest groups to take advantage of the extra attention. demonstrations around these global events often get violent and destructive. i want to bring in ted rowlands in chicago right now. do we know if the city is ready? >> reporter: well, they say they're ready, suzanne, and basically the strategy here has been to expect the worst, expect the scenes like seattle in 1999 or even france in 2009, and hope for the best. and that's what they've done. they've been preparing for 11 months. the fbi, the secret service, and the chicago police department have gone to great lengths to set up a plan. that's perimeters around the mccormick place where the world leaders will be, and they're doing a very good job in
planning, but the problem is, of course, you never know what to expect. we're at a rally right now. this is really the first large rally this week that we've seen. it's leading up to sunday's big march, and this is a group of nurses from around the country really. you can see that security is fairly heavy. you have chicago police surrounding the perimeter here. a lot of numbers here, but quite frankly, this isn't a real scary bunch of folks. let's talk to a couple nurses here. these ladies are down from st. paul, minnesota. this is jennifer michaelson. she's an rn. you came down to chicago from minnesota. you feel very passionate about this, and specifically referencing your hat we're talking about the robinhood tax. you're proposing that wall street be taxed basically financial transactions be taxed, and that money be used to offset cuts in education and health care. why is it so passionate for you and for all these other thousands of nurses? >> i have been a nurse for 30 years. i have seen our patients coming in sicker and going home sicker. there isn't the safety net out
there to protect them. they can't pay for the medications that are prescribed to keep them out of the hospital. they can't go in for the preventative care for their diabetic checks to keep them from getting sick and having to come into the hospital. >> reporter: and this is a theme we're hearing from a lot of nurses. is it pretty universal within your profession that things are going downhill and is that why you've been able to galvanize so many people? >> that's exactly why we're galvanizes nurses and the public. we are the 99% and we are not seeing any improvement. the cutbacks in health care are being taken away from our patients. they are in the hospital for outpatient what used to be eight-day procedures. >> reporter: you're across the street from city hall, but you're miles and miles away from the world leaders. originally you were hoping the g-8 was going to be here in chicago today. is that frustrating, that you may or may not be having your voices heard with the world leaders in town? >> we're not frustrated. we're very excited the fact that we are here on a national stage. we are to be listened to and
nurses have the answer. >> reporter: thanks, jennifer. suzanne, this is just one of ten planned protests scheduled through the weekend. of course, the real problem is the things that aren't planned and that's what chicago police, the fbi, and the secret service are most worried about, but so far so good here. >> that's good, ted. we certainly hope that it remains peaceful. i was at that france 2009 protest where it was really quite violent. we hope that that doesn't happen this weekend. thanks, ted. well, you better watch the sky for falling objects. the movie "armageddon" may have been fiction but nasa is saying there's a lot of asteroids out there and they're pretty close to earth. here on the help desk we're talking about how to rebuild your credit. with me to help answer that question, ryan mack and stacy francis, a financial adviser and president of francis financial. here is the e-mail we got. it came from angela in new jersey. she wrote in, what's the best way to rebuild my credit after filing for bankruptcy?
so, ryan, this takes a long time, about seven years, right? >> it does, but you can start right away. even that bankruptcy can still be on your romp, that doesn't mean you can't still have a 750 fico start. getting a secured card, going to a credit union with a loan building program. paying your bills on time. going to automatic bill payment to make sure you pay your bill on time. paying down your debts as fast as possible. going to annual credit report.com and analyzing all your credit reports and taking out all the errors and everything you find in dispute. >> i do wonder how difficult it is to clean up your credit report stacy, and i think it's always worth asking, reaching out to people you owe money to, asking what can i do to get this off my report? >> definitely. it took you a while to hurt your credit score and get into debt, it's going to take you a while to come out of it. what you want to do is make those on-time payments, make sure that you are using credit.
definitely open up another credit card or secured card and start to rebuild that credit, but it's not something -- they didn't build rome in a day. your credit is not going to be fixed in a day either. >> thanks, guys. appreciate it. if you have a question, just send us an e-mail anytime to firstname.lastname@example.org. back to you. this is $100,000. we asked total strangers to watch it for us. thank you so much, i appreciate it, i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money ? if your bank takes more money than a stranger, you need an ally.
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a technological break through holds great promise for people who have lost the use of their arms and legs. researchers at brown university call it brain gate. for the first time since a stroke 15 years ago, this woman is able to take a sip of coffee by herself. she does it by using a bionic arm she controls with her thoughts. a small chip implanted in the brain converts signals into digital commands. the team behind this say more research is needed into possible side affects but so far none of the seven people i am planted with this chip have had any trouble. there are thousands of things flying overour heads right now that could smash down one day. no need to look up because, right, chad, asteroids are not coming down yet.
>> but there are more asteroids where they actually could interact with the earth at some point this time. maybe a billion years from now, maybe 200 million years from now, probably not in 2017 and not in december 21st when the mayan calendar is coming to an end, all of that. we've debunked that. but the scientists now with a w.i.s.e., we have looked up at the sky and seen 107 asteroids in this little window that they've looked. they multiplied that 107 by how much else space is there that they haven't looked and they come up with 4500 to 4700 asteroids. plus or minus 1500. >> that's a big plus or minus. >> that's a little bit of a big -- i guess a plus or minus here. that means there could be 3,000 one way or the other. we always talk about that plus or minus in the political polls.
this is a big plus or minus. so here we go. this big green ring right there, now it's white, that's the earth. now some of these other typical which are some of the bigger asteroids will cross the earth's path twice, not just one time. so there's almost two times for us to get into trouble with these asteroids. we just need those guys from hollywood to take care of it for us. they will shoot it and bruce willis will go out and shoot the asteroid out of the way. we know there's a number that's a not plus or minus 3,000 anymore. it's plus or minus 1500. still about the same number of asteroids out there we thought still in the asteroid belt we thought and still could at some point interact with the earth like that random movie. >> what if it was a small asteroid that hit the earth. what would be the harm? >> there really wouldn't be harm. they happen all the time. a great shooting star, it would break up in the sky, and these things would come down as rocks. they would fall to the earth but
if you get one that's big enough that doesn't break up into pieces, they think that's what caused the extinction of the dinosaurs, so it could be the extinction of man if we're still here a hundred million years ago. we're worried about other things than asteroid that is killing mankind. >> tell us about this solar eclipse this weekend. >> we have this solar eclipse coming to especially the western part of the united states. we have to give you an idea what we're talking about. here is lubbock, texas, the beginning point and all the way up here to about -- you can't look at this thing. i am going to interrupt myself and say you cannot look at this thing. you have to get special goggles and sunglasses aren't good thuf to look at the sun. there's a lot going on here. the sun is still very bright, but the moon will be in the way of the sun. now, why can't we see it on the eastern part of the united states? because it will be dark by the time it happens. you can only see it in the western half. this could be 10 to 15 years before we see another
significant eclipse in the u.s. the next one coming up we'll be able to see it in georgia and most of the east coast. >> that's great. looking forward to it. chad, thank you. have a good weekend. >> you too. before you head out to your favorite restaurant, are you going to be chowing down on extra calories, sodium, and fat? probably. but it's even worse than fast food chains. ok! who gets occasional constipation, diarrhea, gas or bloating? get ahead of it! one phillips' colon health probiotic cap a day helps defend against digestive issues with three strains of good bacteria. hit me! [ female announcer ] live the regular life. phillips'.
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fact, 9 out of 10 of america's favorite chain restaurants, you will find more calories, fat, and sodium than the experts recommend. in many cases a lot more. i want to bring in kat kinsman. first of all, what are we talking about here? restaurants, these chain restaurants just full of calories? >> yes, there was a study released saying that 96% of these entrees exceed the recommended usda daily limit for a whole slew of things, salt, fat, you name it, it exceeds it. i would be surprised to find out anybody is surprised that this food is bad for you. i think people just weren't aware of how bad it was before. now they have the numbers, they have the information. >> give us a few examples, kat, if you could. i found it quite surprising. appetizers we're talking 800-plus calories before you even get to the main course. >> well, the bottom line is that for a chain restaurant, salt and
sugar and fat and carbs are a lot cheaper generally than fresh vegetables and protein, and you know what? they taste fantastic. as a chef friend of mine says, it's my job to serve you delicious food. it's kind of up to me as to how i get there. those things don't cost especially much and a family can go in there and their head and stomach tell them, wow, that was really tasty, it didn't cost me that much, but there really is a hidden cost in terms of your health with all of this. and now we have the numbers. >> and so now we've got the numbers here. i guess the restaurant would argue their business, well, is it our job to police what you eat? you can find all the information on the internet, you can decide for yourself. we're really responsible, right, for whether or not we eat healthy. >> well, you know, ordinarily i am a huge advocate of personal responsibility in these situations because the information is out there, it's on the internet. the people who tend to be the victims of this, however, are people who live in food deserts,
which tend to be in sort of less affluent neighborhoods in inner cities and rural areas where really this is the only game in town. so, you know, in addition to people being able to look up information ahead of time, it's up to people to get loud at this point and really advocate not just for the restaurants to disclose this, but to also have just better options that taste just as good that are just as appealing to kids but are more nutritionally sound. >> what should you do? what's the best defense against some of these food chains. >> we came up with a few tips for this we'd like to use. first of all, you can get the facts. you can go online, you can go onto websites and just really empower yourself to find out exactly what is in everything that you're eating. secondly, don't get trapped. i know so many of my colleagues in atlanta and up in that food court on a regular basis because they just didn't have time to pack a lunch ahead of time and make a better decision for themselves. also, consider you're treating
yourself when you're going there. you know, it can be the crouton on the salad but it shouldn't be the salad. this should be an every once in a while thing as opposed should we just go out and get something? you can make some decisions at home. also lake i said before, it's time to get loud republican right now in the wake of the study is a perfect time to vote with your wallet, not go to those places or start a petition or directly write to these companies and say, hey, i'm sick of this. i want better from you. >> good points, kat. we try to do our best here. we have a little team, we all go get soup at the end of the day at the cafe. we try to eat healthy as best we can. have a good weekend. >> thank you. >> and enjoy your meal out. i'm suzanne malveaux. after two people were killed along mississippi highways, police were nervous about driving at night, and so now police have arrested this man, james willy. they say he has a long criminal record. they found him with a gun used with the roadside