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tv   ABC 7 News at 4PM  ABC  February 1, 2012 4:00pm-5:00pm PST

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and dr. aragon says vomiting and diea rear common. >> it only takes a few part cells to get infected. when it gets into the environment i could be there for days. >> cleaning crews have worked throughout the night and continuing today. sanitizing surfaces students touch with an epa-approved bleach. >> tables and chairs and walls and desks our floors. all of those areas will be cleaned. >> according to the principal, the kitchen and water supply have been ruled out as a source of the illness, officials say it's spread when people don't wash their hands forly after using the bathroom. once one person has it, it's very infectious. parents including nick's dad were notified by the school last night. >> i washed down as much of
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the house as i could. i'm hoping it goes okay. >> the san francisco public health department is praising this school's quick response and cultures from students are being tested to find out if it's noro virus, the common form. the doctor said it's what eli manning had in days leading up to the playoff game with the 49ers and we know how well he was able to do. >> and this could be noro virus. and usual number of students in santa rosa have gone home with upset stomach autos who is going to pay to upgrade the gas pipeline system? pg&e facing a lot of scrutiny.
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and in san francisco. >> the assemblyman jerry hill and advocates are upset that ratepayer koz be asked to pay the majority of pipeline safety upgrade costs but pg&e says shareholders have paid and now, it's the customer's turn. the deadly 2010 pipeline explosion revealed a pattern of failures. the disaster also required a host of new regulations going forward. pg&e wants the state utilities commission to approve a improvement program most of which will be paid for by customers. critics say does it not include another $3 billion for debt, interest, and shareholder profits. and jerry hill sent a letter pointing that out and advocates filed their own plan
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for covering safety improvement costs. >> the largest portion of the plan is shareholder profits meaning pg&e could profit from the devastating events in san bruno. >> this would add insult to injury to allow pg&e to collect a profit on overdue improvements. >> any work should have been done in the past. we're only asking to cover work that is required to meet new regulations and laws. >> and pg&e folk spoeksman says he hasn't looked at the numbers, but the proposal is based on an industry standard. the decision is still months away. >> more news out of the puc. if you don't want a smart meter you can pay to opt out. the commission voted to give a choice to keep their analog meters.
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and a monthly charge of $10, low income customers would pay less, many protested because of privacy and health concerns. pg&e says fees areness troy maintain those meters. >> and gas leaks may have been responsible for an explosion that destroyed this house today that triggered a fire that gutted the home in north highlands. the family was out of town so no one was hurt. the damage is so severe that the house may have to be demolished. >> the city of oakland announced new kbleerts for police and fire departments today. abc 7 joins us live in downtown oakland with more on the two new chiefs. laura? >> howard jordan spent his career here in oakland. he twice served as interim chief. and some of the cities most difficult times and he says
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this may present the biggest challenges yet. perhaps a welcome respite for large budget cuts, the mayor announced her city has two new top officials. >> i promise to work hard for the people of oakland. >> becoming the first african american fire chief of a large metropolitan city and howard jordan is now the permanent head of a department facing possible receivership from the federal government. serious under staffing and a battle with increasingly violent occupy demonstrators. >> there is no other time for us to demonstrate we're capable of policing this city in a manager in which the citizens expect. >> the appointment comes after 24 years and two stents as interim chief. presiding over funerals of four officers and last year,
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three days after replacing anthony bats, tests sprung up. >> i'm not going to say we're going to change our taxes because demonstrators show up and want to confront the police we have an obligation to protect ourselves and protect property in the city. >> reed comes to oakland from the san jose department as an assistant chief dealing with closures and layoffs of 40 firefighters. and there is a 22-year resident she knows well the challenges in this community. >> to change some of the mind sets of this is how we did it. because changes coming and we're going to have to look at how we're going tibl to involve with that. >> both new chiefs will have to do what they can with minimal resources. howard jordan pointed out he had 200 more officers on the streets. in oakland abc 7 news.
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>> one of san francisco's most convenienterable soup kitchens hosted its last meal today. they have been feeding the poor and homeless since 1950 and there is some 38 million meals later they're building a new dining room. >> i made a lot of friends here, a good place to come. >> what do you like? >> their generosity. >> and starting tomorrow they'll serve across the street and the new room will be built where the old one stands. and there is an opening of summer, 2014. >> time for a first check of the weather now. featuring rain for that long. >> and that scattered bits of it. >> that is what we expected. quick in, quick out, then,
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waits gone and not a lot of rain. a few hundredths after inch at most and now we're going to dry up. this evening if you're stepping out we're going to see partly cloudy skies. and there is a low level moisture, patches of fog. mid-30s to upper 40s and upper 50s to mid-60s, it's going to get warmer than this, i'll be back with a look at the weekend forecast in a little bit. >> thank you, sandhya. ahead facebook pulls the trigger. a look at what is revealed today in the stock filing. >> you're seeing birth control pill. there has been a major mix up with one brand that could lead to pregnancy scares for women taking it. >> and michael finney taking your questions through his facebook and twitter pages and will answer them here, live in just a little bit. you can contact michael on twitter and facebook.com/michael finney
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abc 7. >> taking a look at traffic now if you're heading south, smooth going right now. there is a different story for folks heading east. stay with us. the news continues right after this. -dad, why e you getting that? -that's my cereal. is there a prize in there? oh, there's prize, all right. is it a robot? no. is it a jet plane? nope. is it a dinosaur? [ laughs ] [ male announcer ] inside every box of heart healthy cheerios are the great tasting little o's made from carefully selected oats that can help lower cholesterol. stickers? uh-uh. a perhero? ♪ kinda. [ male announcer ] and we think that's the best prize of all. ♪
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checking healthy living news, a packaging error forced recall of a million packets of birth control pills and says the packs may contain too many active tab blets or too few, which could raise the risk of unwanted pregnancy. and dates ranging from july 31,
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2013 and march 13, 2014. >> the big risk is unintended pregnancy. have you to know if you're on the pills and need to use another form of contraception. >> and pfizer says it's corrected problem. if you think you may have faken recalled pills contact your pharmacist. >> federal advisory board ruled details of how a genetically altered strain of even flu will be kept secret saying the danger to public safety is too great because terrorists can use that data to create a biological weapon. it's highly lethal and easily transmitted. >> and a new study links objective sleep apnea with a high risk of having silent strokes, where people stop breathing up to 20 seconds and
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osa causes increase in blood pressure and a drop in oxygen that. could lead to so called silent strokes. these strokes can be detected only through brain imaging associated with an increased risk for a major stroke. >> and on to business news now, facebook is updating its status to public. and emily chang spent the day analyzing the long-awaited ipo and joins us now with today's after the bell report. >> this is one step to getting there. and the waiting game is almost over. facebook filed for a $5 billion ipo. the number is expected to rise, making it the harjest on record. now, long keep secrets are public. first off, we know mark zuckerberg owns 28% of the company. that means he could be worth more than $28 billion if
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facebook reaches a market cap of00 billion. facebook started eight years ago but a 19-year-old zuckerberg. the start up and ceo are ou all gronz up but the journey is far from over. we've been digging through the f 1 filing for details and we know there are 845 million users world wide and facebook's revenue surged 88% in 2011 and profit on a steady march up to $1 billion last year, becoming profitable in 2009. business is strong, as far as risk factors facebook cites google plus and media coverage mentioning the google site about 18 times, putting those factors aside a big part is tied to that little button
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that says like, a way to tell the world your preferences. the more you like, the more powerful facebook becomes. right now, ads are a big, the biggest part of the facebook future, hope is that the company will become less dependent on them. >> their hope, the hope of the enthusiastic investors is that in the future there is going to be more that our experiences will go through facebook. there are reasons to be skeptical that is going to happen. and there are transactions people aren't going to be comfortable doing. but facebook wants to keep expanding the way they do business. >> that was our contributing ed yoitor with "the new yorker". why has mark zuckerberg decided to take the company public? in a letter ez says we're
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going public for employees and investors. we made a commitment to them when we gave them equity that we work hard to make it worth a lot, it's part of fulfilling that commitment, he says. we reported koit make one third of the facebook employees instant millionaires. using it as a ticker symbol as fb but hasn't decided to trade on the new york stock exchange or nasdaq, stocks gained across the board after reports showed manufacturing around the world is strengthening. bloomberg silicon valley index up about 1%. so there is a lot going on here, we'll keep you posted with everything facebook over next couple days. >> good time to be a facebook employee.
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>> yes. especially early. >> yes. earlier, the better. >> we got sprinkles out there. >> yes. for a nanno second. >> this morning we did have showers around the bay area, some escaped and you can put umbrellas away. there is a sunny, milder weather. looking from our camera and high definition we're panning around the bay in case you want to get a few of the area. there is some clouds out there. and we'll see fog, then, we're in for a sunny afternoon tomorrow and we'll repeat the scene. in the case of san jose, nothing measured, and there is 4/100ths in santa rosa. and there is a trace in
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oakland. wasn't expecting this to be the storm of the century but just enough to dampen the ground. and there is patches of fog forming towards morning and dry pattern will be with us throughout the weekend. and so by morning we're expecting temperatures to drop down tonight. so temperatures coming down into mid-30s range. cooler night in livermore, 40 in fremont. low 40s san jose. and 39 degrees for santa cruz. for the morning kmult you'll see patches of fog out there so just be aware of that. here is the weak front that fell apart and brought us showers and there is high pressure rebuilding and shuts storm track to the north meaning we remain dry.
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we enjoy nice, sunny weather not just here, but around the state. we need rain here in the bay area and we need snow in the sierra nevada. couple inches of snow fell in the high country. just two to three inches at most. tomorrow afternoon, it's a sunny day. 67 santa rosa and there is bright, blue around the monterey bay. 65 in santa cruz. 67 salinas, here is the accu-weather forecast. there is groundhog day tomorrow, sunshine will continue low to mid-60s then climbing up near 70 degrees by sunday, chance of rain monday night into tuesday. there is if punxsutawney phil sees a shadow means six more weeks of winter. >> did you see rain? >> not quite. >> that is what we need. >> we need him to see that
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rain. >> and an investigation into the death of amy winehouse could be reopened. >> and sudden loss of don cornelius shocked the entertainment world. >> it's a sad day for hollywood mourning the death of don cornelius. he started in 1970 "soul train" featured artists. they found him in his home with a self inflicted gunshot wound. aretha franklin says it's sad, and shocking and a huge loss to the african american community and the world at large. the coroner who oversaw the inquest into the death of amy winehouse resigned after questions came up about her qualifications. back in october she ruled winehouse's death an accidental alcohol poisoning. the family sk offered a chance for another inquest if they want it.
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and it's february 1, meaning it's oscar month and you don't have to be here to get in on the fun, you can pick winners and compare them to your friends and for everything else entertainment go to otrc.com. >> and there is on the red carpet putting together a team of reporters to help interview celebrities. college journalists need to submit a reel showcasing their talents. and the details for this contest posted at red carpet journalist.com. and this entry deadline is tomorrow at 4:00. >> a tsa agent rifling through luggage to steel stael one thing in particular. >> the car crash that could lead to a teen-age orphan's deportation. >> the komen race for the cure and what is being seen as
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organizational misstep at the expense of womens' health. >> taking a look at traffic now, you're looking at 680. northbound traffic is heavy but for folks heading south it's smooth driving now. stay with us. the news continues right after this.
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here is a story going to make you think twice about what you put into your luggage. police caught a tsa baggage inspector stealing from checked luggage at dfw international airport. he wasn't taking things randomly but looking for ipads. authorities nabbed him when a passenger used a tracking feature on his stolen tablet and located the device at the agent's house. they found seven others in his possession. >> who am i going to trust next? >> probably want to carry it on with you. the tsa placed the agent on leave. >> and gold caper is under investigation. thieves got away with $3 million in gold stolen from the court house you're the oregon border.
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two men broke into the case around 1:00 in the morning. the theft discovered just after 7:00. and some of the nuggets were found nearly 100 years ago. it was also shown at the world's fair in san francisco. >> and still head in our half hour, a community pipes deportation of a teenager who just became an orphan. >> and mark matthews found out a plan for underwater homeowners is likely destined to sink. >> and this isy dent in egypt has nothing to do with political turmoil there. >> and there is some high clouds going through. we'll see patches of fog by morning, then it's a sunny set up. milder weather. i'll let you know how long it will last coming up. ♪
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okay, so who ordered the cereal that can help lower cholesterol and who ordered the yummy cereal? yummy. that's yours. lower cholesterol. lower cholesterol. i'm yummy. lower cholesterol. i got that wrong didn't i? [ male announcer ] want great taste? honey nut cheerios. want whole grain oats that can help lower cholesterol? honey nut cheerios. it's a win win. good? [ crunching, sipping ] be happy. be healthy. can i try yours?
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president obama announced a proposal to help struggling homeowners. he wants to make it easier to refinance mortgages even if they owe more than the homes are worth. >> this as the census reports only 66% of americans own their own homes. awbc 7's mark matthews is here with the plan to help homeowners and what he needs. >> he needs a miracle. but... we'll get to that in just a minute. first, the plan is intended to give homeowner who's are current on mortgages a chance
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to refb finance at lower rates. here is what the president said today in virginia. >> we need to do everything in our power to repair the damage and make responsible families whole again. >> for homeowner who's haven't fallen behind on mortgages the plan would provide refinancing for nongse borrowers are those whose mortgages are not guaranteed by fannie mae or freddie mac. item two is in the plan would stream line financing for all borrowers and three, it would give homeowners a chance to rebuild equity in homes by giving them a choice. either take lower monthly mortgage payments or... apply the savings to paying down the principle. this afternoon, house speaker john boehner poopooed the plan. >> none of the programs have worked. i don't know why anyone would think this next idea is going
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to work it won't work unless the president can pay for it. he's imposing a fee on the biggest banks to raise $5 billion needed but when proposing that fee two years ago he could not get it through congress, back then, deps controlled the house swaels as well as the senate. this afternoon, the deputy director of the president's council didn't want to focus on the problematic fee. >> the fee isn't the center of focus here. the focus is the proposal to allow responsible borrowers an opportunity to refinance, take advantage of low rates and save $3,000 are more per year on mortgage payments. >> none of which will happen because republicans will not pass the bank fee says abc 7's bruce cane. >> what i think both parties will do is tee up bills that make points that are important to them and expect other parties to vote no. then use
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it in a 30 second ad that. is probably the name of the game we're playing now. >> and if the president could in the get this passed when he had both the house and senate, you have to wonder why he thinks he can get it now in this election year. >> yes. >> not going to happen. >> any other plans to pay for this? >> i asked the deputy director, i was what is plan b? because the house republicans hate this idea. there is no plan b. and so you've got to believe when bruce tells thu is about politics. i'll let you know when the ads start running. >> yes. thank you. 50 and republican presidential candidate newt gingrich is in nevada soon to be followed by mitt romney fresh off his victory in south carolina. at a rally in minnesota romney was glitter bombed and brushed it off and treated the crowd to a sample of his musical stylings.
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>> mr. gingrich in a brewerry responded to the comment he's not concerned about the very poor. >> quote, we will hear from the democrat party the plight of the poor. you can focus on the very poor. that is not my focus. now... let me say something here, i am fed up with politicians in either party dividing americans against each other. >> and romney made it clear the very poor have a safety net. he says consisting of medicare, food stamps and housing vouchers. the primary is on saturday, and maine, next weekend. >> oakland teenager accused of killing his parents last week was assigned a public defender today. the bodies were found friday night in front of their house.
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both had been strangled. investigators say the boy murdered his mother first, then laid in wait 2004 his dad to come home, poj parents worked in public health. the violence may have stemmed from the boy being suspended from school. the 15-year-old will appear in court to enter a plea. >> and an unconscious woman firefighters rescued from a building has died. paramedics revived english. she was not breathing. the fire at clayton creek apartments destroyed her unit. no word yet on what start that had fire. >> and an undocumented teen who survived a wreck will not be deported. the 15-year-old is the only member of her family to survive. her family moved to the u.s. from brazil 12 years ago.
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church members feared she'd have to go back to her home country but the u.s. immigration and customs enforcement said reports of the 15-year-old facing possible deportation are false. >> coming up next, violence in a soccer game. >> and much of the world is stuck in a deadly cold snap now. a different story here in the u.s.. >> michael finney is still taking your questions and will answer them here live. you can contact michael on twitter or facebook. >> at 4:30 checking traffic again and there is traffic moving towards berkeley and backed up through the maze. here is sandhya with a national outlook. >> looking good if you're traveling today, green lights across the country. no major weather problems yet. there is a place to find
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delays, houston, traffic management in effect with that area, back with a local look at the forecast in just a few
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i remember the days before copd. my son and i never missed opening day. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better,
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and that means... game on! symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. [ whistle ] with copd, i thought i might miss out on my favorite tradition. now symbicort significantly improves my lung function, starting within 5 minutes. and that makes a difference in my breathing. today i'm back with my favorite team. ask your doctor about symbicort. i got my first prescription free. call or click to learn more. [ male announcer ] if you can't afford your medication, astrazeneca may be able to help. 73 people are dead and a thousand others injured in egypt today over a soccer game. fights and a stampede broke out after the home team upset egypt's top team. police officers stood by and
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basically did nothing. an official says majority of deaths were caused by sufficiento indication from the stampede. >> and a brutal cold snap killed at least 79 people and temperatures fell to minus 26 degrees in places. helicopters evacuated dozens of people. pilots say the snow is so high and many times, all they can see are rooftops -- tops. snowfall left at least 50 people dead. authorities say most deaths were caused by people slipping while clearing snow from roof tops. more than 700 people have been injured and more snow expected tonight with worse conditions by weekend. and this is not as bad in south korea. the mercury rose today, but three inches of snow fell. 2000 police officers had to be called out just for control autos and snow seems to be
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everywhere except the u.s.. only 19% of the lower 48 is covered in snow. 52% had snow last year. and yesterday, almost every state had temperatures 50 degrees or high year and ticket prices going up for one airline. >> and get ready to pay more for that porter house. >> protestors say they're not to blame for the weekend violence in oakland. we're live with their claims today. >> news at 4:00 continues right after this.
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what a gorgeous view looking towards san francisco to the right of the screen, you can see the golden gate bridge. there, to the left you can make out bay bridge and treasure island. looks like we're setting up for just a gorgeous sunset. and officials are using a new tool to fight occupy protestors. the court. stay away orders given to 12 protesters and nick smith is live with the demonstrators response today. >> good afternoon, more than 400 protestors were arrested saturday. today, demonstrators held a press conference to denounce what is called violence from
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police and lies by the city of oakland. responding to the social media request for a mass mobile saigs to occupy a vacant building. several were taken to charges in city hall and assaulting police officers. a stay way order given to 12 protestors barring them from participating. demonstrators say this is another example of police abusing their authority abusing officers of excessive force, and that this is an attempt to suppress their free speech. >> this city needs to stop repressing the people of oakland. >> this is a very volatile situation. we take every allegation seriously whether through
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occupy or some officer that did something on the streets. >> and this afternoon's press conference was an opportunity for them to read a series of prepared speeches. they did not, however, answer questions about responsibility for damage done to the city and to report, saturday. and there has been a call by occupiers to gather later today and they're asking for a call for a day of action. >> san francisco mayor ed lee says he will keep him promise to open a substation in one of the city's roughest neighborhoods. he made the comment during the open of dotty's cafe. san francisco is also expanding it's block sweeper program. >> it's someone that was with
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the businesses tells businesses what is expected from them and helps makes sure sidewalks are clean and reports problems. >> and without the money the city will use funds from the mayor's office to open mid market police substation this year. >> and still to come this afternoon, a scary ski lift rescue by good samaritans on the slopes. and i'll show you more of the pictures. >> and i'm michael finney answering your questions, coming up next considerations you need to take into account before starting that remodel. >> and a group of women still trying to rebound from the recession and now, the state budget could deal them a double blow. -dad, why e you getting that? -that's my cereal.
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is there a prize in there? oh, there's prize, all right. is it a robot? no.
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is it a jet plane? nope. is it a dinosaur? [ laughs ] [ male announcer ] inside every box of heart healthy cheerios are the great tasting little o's made from carefully selected oats that can help lower cholesterol. stickers? uh-uh. a perhero? ♪ kinda. [ male announcer ] and we think that's the best prize of all. ♪ great! at progressive, you can compare rates side by side so you get the same coverage, often for less.
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heading towards the top of the hour you've got to take a look at the sunset there. now back to downtown traffic in san francisco and the skyway just a mess whether heading towards east bay trying to get across the bay bridge or towards the peninsula, it's slow going at this hour and michael finney is joining us now to respond to viewers. >> yes. one of them has a great question for folks considering remodeling. what are the tax consequences? >> good question. something you think about. sylvia asked if i remodel my home how does that impact property, my prop 13 status? okay. as long as you remodel within the walls that are already there, there is no impact at all. you pay the same amount of property taxes but if you expand outside of the walls you have to pay more tax. because you have more property. and you don't pay tax under
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your old rates you pay under new rates, let's say you've owned the home since 1990. you're paying taxes on worth of the home then plus 1% per year since, then you'll pay for this new added space how much of that square footage worth today? so they figure that out for you. you do want to keep track and make sure numbers are correct. but that is how it works. some under old numbers, some, under new. all under prop 13. >> laura ge mails where do lost items on planes go? to alabama. i know. is that funny? but it's true. all lost luggage and just lost items if you leave an ipod behind on a plane they all show up in the unclaimed baggage center in scotsboro, alabama. they buy them there like a flea market every day. and majority of the stuff gets
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returned and many passengers want you to know that doesn't seem true. lease wants to know where is there free tax help? first we have two free tax nights coming up and we set them down and keep watching. that is going to come up in six weeks or so. then, united way has got a program called earn it, keep it, safe it. if you call 211 they're kind of an umbrella agency f you earn $50,000 or less they'll do your taxes free. >> wow. >> that is excellent. >> thinking about scotsboro, alabama. >> i visited it. >> back before they wanted media coverage.
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i showed up with hidden camera autos they loved that. >> and did you say this is a warehouse? >> it's huge. a huge warehouse. stuff is coming in every day. and time for a check of the forecast. >> you can put umbrellas away. and here is a look this afternoon looking southeast there is a lovely view there. a little bit of leftover moisture from this morn he is g's system. and we're seeing high clouds moving in this afternoon. tomorrow, it's clear after the moshing fog from top to bottom if you're traveling. there is 55 degrees mild down in southern california. and there is los angeles, 70 degrees palm springs and vegas,
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60 degrees and sunny. looking at the forecast steve h just posted and sedz i'm so glad we're going with a sunny forecast. i'm tired of mostly cloudy, perhaps rain. well if you're thinking you're in luck tomorrow and the next couple days we're in for lots of sunshine out there. 64 san jose. and 65 degrees sarah to goa. peninsula, 61 in millbrae. mid-60s for palo alto and mountain view. there is a a sunset district upper 50s. north bay, northerly wind, down sloping wind tends to warm you up in places. and there is near 07 degrees for thursday afternoon. 64 and 58, napa. 65 degrees, blue skies, 64 in oakland. union city, fremont into low
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60s, heading inland, temperatures low to mid-60s. there is 6 ain santa cruz getting up to 68 inlnld. enjoy weather. >> sounds good. >> and take a look at these pictures emerged of a rescue over the weekend of a ski resort in wisconsin. you can see a little boitboy dangling from a ski ef lift. a group formed and a man on the lift held him out and let him go. >> and i can hear them saying we're going to let them go and watch them. i'm like wow this, is going to be interesting. so... they said one two,, three. and this person let them go. he kaz waz free falling and they caught him. >> the boy fell into the arms of the people below and did not suffer a scratch. no word on how he ended up dangling from the lift. >> and american airlines could
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slash up to 14,000 jobs to cut costs about 15% of the work force. union leaders say the mood is somber. and american and parent company amr filed for bankruptcy protection in november. and spirit airlines is adding a $2 charge to tickets and n.resfoons a new role. the low-cost carrier calls it a d.o.t.-unintended consequences fee allowing passengers to change flights without paying a penalty but spirit argues it's being forced to hold seats. and price you pay for meat at the grocery store likely to go up again. the summer drought and storing feed are contributing factors, projecting beef prices to go up by 5% this year he's being called australia's generous boss. the 79-year-old sold his
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transit company for $400 million. he decided to give $15 million to employees in the form of some life changing bonuses. >> my wife had me working seven days a week to pay for my daughter's wedding. this bonus came at just the right time. >> best boss i ever had in my life. >> 1800 workers received up to $30,000 apiece, long term staffers up to $100,000 each. and every employee is guaranteed a job with the company that bought the business, that is if they want to keep working there. >> and that does it for this edition of abc 7 news at 4:00. and remember, you can keep track of the latest breaking news on twitter and you can talk about it on facebook.com. the news at 5:00 continues right now. >> and thank you.
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facebook pulls back a curtain on the financial secrets, next, how much money its making and how much more it's about to. >> and there is a double blow the california budget could deal to single mothers. >> and numbers keep growing into the largest outbreak of stomach flu ever seen in san francisco schools. >> good evening, i'm dan ash lie i'm cheryl jennings. facebook has a lot of friends cheering it's status today. >> yes. they like the fact that face dgs book is going make a $5 billion stock market debut. here is why. last year, the revenue nearly $4 billion, up 88%. the kep made a billion dollars in profits. and david louie is live near their campus with the facebook ipo. >> we're across the street from facebook. we're not allowed on campus today.
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and those speakers -- figures you just mentioned is new information because they have not disclose that had in the past but facebook is going to have to be more transparent, more open as a result of the $5 billion public offerings. >> the $5 billion figure isn't etched in stone. securities experts say it could change in the weeks ahead as facebook's financial records are reviewed and evaluated. santa clara university law professor explains why this process is complex. >> if they overprice, and then, they don't meet expectations they face risk of lawsuits and just investor disappointment f under pricing it means they leave money on the table. that they don't bring into the company this, is new cash into the business. >> whatever the final figure, it's money they can use to expand services, hire more employees or acquire start ups with technology it wants or needs but that puts competitors at a disadvantage.

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