tv KTVU Noon News FOX May 18, 2012 12:00pm-12:30pm PDT
complete bay area news coverage starts right now. this is ktvu channel 2 news at noon. >> the top guy at facebook rang the bell and made it official. the social network now trading publicly and making lots of people very rich. good afternoon, i am tori campbell, facebook is now a publicly traded company, the day started off with a bang at the face book campus. we have team coverage, tara moriarty has expert analysis on
the ipo, put we begin with alex savage live in menlo park to tell what it is look at the beginning of the day. >> we were not allowed to go on campus but from news chopper 2 we watched as hundreds of employees gathered in the courtyard to kickoff this historic ipo. well, we -- we can tell you here that there was a huge crowd on hand, obviously this morning, a lot of employees here as facebook ceo mark zuckerberg, he rang nasdaq's opening bell at 6 6:30 this morning. the company began to trade publicly a short time there after. it has been a long journey and they mav they have waited a
long time. we wanted to show you what it looked like. from up above you could see a huge crowd on hand to watch mark zuckerberg ring the opening bell. the company started trading after that. it has been a long journey. >> it is something personal for them so i have to believe it was a great moment for them. >> no one would talk with us on camera but a representative did tell me there was not a whole lot of fanfare, it was business as usual. one person who is celebrating now the mayor of menlo park, who sees a huge benefit for her city. >> it just is wonderful to have facebook in menlo park, every time you hear the word facebook you hear menlo park now and it helps build this area, more people will want to have businesses here. >> facebook's ipo is expected to turn a thousand employees into instant millionaires but that doesn't mean anyone got
the day off. in anticipation of today's ipo almost every facebook employee actually checked in here last night. they took part in what is called a hack-a-thon, where they work on developing new and innovative products. they kept working right up to the opening bell. mark says the company has a lot to prove going forward. >> the company is going to have to learn to modernize its base and clearly the ipo gives it a huge war chest to go aggressively acquire other companies. >> the first day of public trading facebook is expected to be worth well over 100 billion dollars and expected to make ceo mark zuckerberg one of the 25 richest people in the world. now investors scrambling for a piece of facebook, tara moriarty live back in the newsroom with more on how facebook stock is doing this afternoon. >> reporter: trading up
slightly at this hour, however relatively small increase. it is not what many investors and facebook were hoping for. if we take a live look at the nasdaq board you can see that facebook currently selling up 2.7%. began at 38 a share, so up a little bit. it seems investors are being extra cautious because this social network still has not demonstrated it can make the kind of money needed to support the stock price. some worry it could become old and stodgy and others worry it will sell off personal data to the highest bidders. >> the key is they have the users and user base, unlike others, because you know this is the value of 20 my spaces, 5 twitters and 2 aols. >> one person said her financial analyst told her
facebook stock was overhyped and advised her against investing. >> it is interesting it hasn't gone up -- you know i thought it was going to go way up and it is flattening out but we have to wait and see. it is one of those mysteries. >> my portfolio is not too strong right now, a/k/a, i don't have any money, so my reaction is i am going to chill, see what happens, see if it plateaus maybe that point borrow money from my daddy and buy shares. >> experts say one day does not a market make. facebook is so dominant they believe it can maintain its lead. tara moriarty, ktvu channel 2news. >> thank you. so what is the reaction to facebook's ipo from general folks? coming up we will hear from tech workers and retirees and others. we invite you to check out the
facebook tab at ktvu.com. we have posted numerous stories including the company's 5 core values plus some of the millions of people refusing to join the social network. things are not all rosy though in silicon valley. there are reports hewlett- packard is eliminating tens of thousands of jobs, trying to cope with declining demand. the cuts could mean as many as 30,000 hp workers around the world would be out of work, that is 10% of the company's global work force, ceo meg whitman is not commenting now but is expected to say something next week. happening now police have evacuated a two block area in san jose's willow glen neighborhood after reports of a bomb threat at a nail salon there. the evacuation is in the area around nails by tammy at 1302 lincoln avenue north of minnesota avenue. even though authorities have not found a package or
explosive device the bomb squad is there making sure one is not planted nearby. the fire department and paramedics are also there. >> it was an employee arriving at work and she called the police to report she found a note alluding to the fact there was a bomb at her business. officers arrived on scene and found the note and the white powdery substance on the front door and the back door. >> police briefly put a shelter in place order into effect for willow glen elementary school near by but it has since been lifted. new at noon police in dublin have announced an arrest in a fatal hit-and-run accident on tuesday night. they say spencer freman smith was booked into the jail for hitting 57-year-old bo who of san ramon. the 57-year-old victim was either riding or walking his bike when he was struck and killed. debris at the scene helped police identify the type of car involved. investigators then tracked down
the vehicle to smith's home in san ramon. we have more information now on a dead he overnight crash in berkeley. investigators say a driver slammed into a tree on california street just north of alston early this morning. one adult passenger was killed. the driver and a child were severely injured. lorain blanco joins us with this report. >> reporter: the driver hit this round about behind me and flew into the air to about right here where you see this chalk marker. he went 30 feet airborne before he hit that tree. a 1999 cadillac crushed. the sedan looks like a convertible because firefighters ripped of in the roof to pull out three people trapped inside. >> the guy was in so much pain and agony and by me not being able to get into the back door to rescue the little kid that was disturbing to me.
you know, i am very upset. >> police say the driver hit the round about at california and alston after 1:00 a.m. friday. the car went airborne and slamed into a tree. >> my house shook. i thought -- i thought there was an earthquake. >> the female passenger died. the male driver and a mall child were transported to local hospitals with critical injuries. police are looking into whether alcohol played a roll. they noted the absence of skidmarks on the roadway. >> it usually indicates the person was driving at a speed and did not apply the brakes before they hit something or had some ki of inattention. >> many neighbors tell us regardless, they think this round about is dangerous. >> i have seen so many near accidents on this corner here. i am fearing that one time they are going to run into my living room. >> reporter: the car is registered out of compton in southern california. police tell us the driver, who is in the hospital right now is not the registered owner.
all three occupants are berkeley residents. live in berkeley, lorain blanco. >> funeral services are held for a police officer killed in a motorcycle accident. rodney pierce was ejected from his bike after hitting a deer in castro valley on may 7th. he died from his injuries 4 days later. the service started at 11:00 a.m. at the college in hayward. pierce was active in the community, including teaching youth baseball. he is survived by his wife and 4 children. the fate of 100 graves in san jose is being discussed in court today. earlier this week we learned that construction workers at valley medical center found the old grave yard in february. some graves date back to 1875 for families that could not afford burial costs. the county is asking a judge for permission to excavate some of the coffins, officials say
an archeologist will be hired and efforts made to track down family members. >> -- innundated then the power just wept. >> been a long wait for some bay area respects, still hoping to get their electricity back. if you are hoping for a warmer weekend rosemary says you are in for a treat. she is up in in a few minutes. chopper 2 gave us new video of another accident that involves two trucks and a terrible outcome. what's going on? installing cable. you know this is an ikea, right? yes, but look at this sofa! it's so comfortable. we don't want to leave.
have you been living here? can i have dinner at michael's house? they're having meatballs. don't be back too late. you know it gets dark when they shut off the lights. okay. i can stay. you know, you can just buy the sofas and take them home, today. for a limited time, get up to 15% back on select seating. ikea, the life improvement store.
a cement truck driver was killed this morning after collidic with a big rig in fremont. police say it happened at 8:30. video shows the scene of the crash near the intersection of cato road and venetia street. it is closed. we are told the big rig driver was taken to the hospital but is expected to survive. it was a rough commute no drivers on 880 this morning. news chopper 2 was over the scene in san leandro where a car overturned in the southbound lanes at washington avenue. the accident blocked all but one lane causing a back up into oakland right at rush hour. all lanes were back open at 8:30. the new president of france this morning said he is keeping
his pledge to remove friendch french troops from afghanistan by the end of the year, two year years ahead of schedule. that came after a meeting between them. he said they would support afghanistan in a different way. he did not say how. they also discussed the importance of solving the debt crisis. california's two u.s. senators are demanding answers after last week's report. dianne feinstein and barbara boxer have sent a letter for the secretary calling the current situation unacceptable. the oakland va office handles claims for all of northern california's returning soldiers. the report found the office took nearly a year to process their disability claims and that is one of the worst backlogs in the country. school administrators in antioch are warning parents of
the consequences if their children cut class. next week parents of students at deer valley high school who frequently miss class will be subpoenaed to attend a meeting. this week administrators met with parents and students at antioch high school, the families were told if students continue to miss class next school year, the parents could be taken to court, fined up to 2000 dollars, and spend a year in jail. students can also be fined and lose privileges such as drivers licenses. pg&e says it will be at least another three hours before some people in navato get their utilities back, it is tacking longer than expected because the affected power lane is buried 10 feet underground. it all started around 6:00 last night. pg&e says two distribution lines and a power pole crashed down possibly because of strong winds. >> this is all that is left of it. it blew up as soon as it hit
the ground, there is the marks there. it blew up. it dissent descent descent grated and the power went. >> they are still waiting. investigators are trying to find out if and arsonist is responsible for a fire. it started after midnight and the fire destroyed one car. firefighters managed to keep the flames from spreading across the carport to an apartment building nearby. one mother of three small children came running out of her home after hearing a loud sound. >> i heard a big boom and i ran outside. the blaze was so high it is scary. >> no one was hurt. but the flames caused major damage to the carport. there is still no definitive word on the cause but arson investigators say the fire may have been intentionally set. now pack to facebook, the
social network's historic stock offering is the talk from main street to wall street today. that is a popular restaurant. customers had something else to chew on this morning. facebook's price in the coming weeks and months. >> what remains to be seen is not what it does today but how it bares out over the future. i know some of the insiders are selling more than what is typical in a typical tech ipo, so that gives me a little bit of pause. >> buck is a mostly cowboy motive, the owners have put up computer related mementos, including that, with a caption underneath, see it there, i was too dumb to buy the stock but i bought the plate. a beautiful day for bono, thanks to that, he is now the richest man in rock. they bought 2% of facebook for 90 million dollars, total shares are now worth 1.5
billion, he beats out paul mccartney as the richest musician. we will check their stock shortly. if the fog doesn't roll in you may be able to see something rare in the skies this weekend, called a ring of fire solar eclipse, when the moon blocks the sun leaving a bright halo of light at 5:25 sunday evening with a maximum eclipse at 6:32. don't look directly at it though because it can cause serious eye damage >> good afternoon to you. we should be in pretty good shape for that sunday eclipse. outside our doors at this hour numbers are up over yesterday as warmer weather pours in for your weekend. a live look there at lafayette, where we are already nice and mild under blue skies. cool pi by the coast, sunny near pacifica, half moon bay so perhaps a nice day to lead out and do an ocean beach cafe,
westerly breeze sfo, 17 miles per hour, northwesterly san jose 10, actually southwesterly through fairfield. the winds northwest through the weekend but a ridge of high pressure building in and our air is warming. 62 degrees in oakland right now. 62 san francisco. some of us already in the 70s, 70 san jose, 70s in areas around livermore, concord, 4 to 7 degrees warmer than yesterday at this time. 68 in napa, 74 for santa rosa, upper 70s, low 80s by saturday and sunday. giving you a look at the pacific satellite view. there it is. we have a ridge of high pressure building in. a little tough to see but it will continue to build. saturday. sunday we will begin to see changes though. high clouds expected in the area by late afternoon as the system dropping out of the gulf of alaska brings energy our way and cools us down in time for next week. mostly sunny start of the day, a warm up saturday, sunday
looks to be a near repeat. if the onshore breeze kicks in early along the coast could be cooler but our inland spots expected to hold on to 70s and 80s, here are your highs for today in those areas. so even with the mostly sunny skies still a bit of a cool day along the coast side. there is your extended forecast there notice just a bit of a warm up into the weekend, not bad at all, especially if you don't care for the heat. >> thank you. >> you are welcome.
>> they are gearing up for the big crowds for bay to breakers, it will run space shuttles before and after the race. prerace shuttles available from 5:00 to 6:30. post race services from 8:00 to 2:30. they board with a special pass. there are two left. you will see who is left in the american idol competition. a large piece of history about to sail away from the bay area.
well it is going to take more than facebook's initial public offering to push the stock market higher, stocks are flat to lower today after still some concern about the situation in europe, a live look at the big board, the dow currently down 61 at 12,381. facebook shares now are up but much less than expected on their first day of trading. huge order volume actually caused technical problems that delayed the coming out party of the number 1 on-line social network by 20 minutes this morning. again this is live from the nasdaq where facebook is listed under the symbol f b, up just slightly right now at 38.07. the historic battleship that spent the last decade in suisun bay will move out this weekend. crews have been cleaning up the uss iowa. the world war ii battleship will head to los angeles to become a floating museum. it would have stayed in the bay
area put the san francisco board of supervisors rejected a resolution to move the iowa to the city as a floating museum. the bay area will get its last look at the uss iowa as it passes under the golden gate bridge around 3:30 sunday afternoon. there are now just two singers left in the bid to become the next american idol. [ cheers ] >> the person going head-to- head against jessica is phillip phillips. >> so joshua was sent home, that leaves jessica and phillip as the final 2. next wednesday each contestant will perform three songs and on thursday the next american idol will be crowned. you can see it all unfold right here on ktvu channel 2.
today at 5 5:00 we are following a developing story where a man has been arrested following a fatal hit-and-run crash, what we have learned about the driver who police say was behind the wheel. thank you for trusting ktvu channel 2 news, we will you the next time news breaks and we are always hear for you on ktvu.com and mobile ktvu.com. thanks for watching. have a great weekend. send comments to email@example.com captions by terry james, caption colorado, llc.