Sorry for the late start but parking prevented us from having a quorum on time. Yes we need more parking commissioner bustos says. This is the regular meeting on Community Investment and infrastructure the success or Agency Commission to the San Francisco Redevelopment Agency for tuesday December December 16 2014. Madam secretary please call the first item. The first is item one roll call. Please call your name. All members of the commission are present. The next order of business is item 2 announcements. The next Commission Meeting will be held on tuesday, january 6th , 2015, and announcement of sound devices during the meeting. Please be advised that Electronic Devices are prohibited at this meeting. And any person responsible for the ringing of for use of cell phone or pager or electronic device. Please be advised a member of the public has up to to 3 minutes on each agenda item. It is strongly recommended that members of the public that wish to address the commission fill out a spe
What, 263. Wow. Down from 3 not long ago. All right, europe looked pretty good at least last time i checked. That continues to be the case. Largely green, of course. You had the nikkei up after the 4. 2 drop the day previous. Kind of going back around the world the other way as in positively at least so far. Lets get to our roadmap this morning and it starts with those markets which are preparing for as you saw a decline at the open after private Sector Employment data comes in below forecast. Also weighing on investors s p downgrades puerto ricos general obligation yesterday they go to junk level status. Merck misses by a penny due to patent expirations and ralph rawrn beat lauren beats. And twitter set to report its First Quarter as a Public Company after the bell today. And big news from cvs caremark announcing it will stop selling cigarettes and other Tobacco Products at its 7,600 stores by october 1st of this year. Whoa. That is an interesting story. Futures extending their losses
Futures meantime okay. 10year yields not moving a whole lot and may not until we get the fed statement tomorrow. Our road map begins with apple, profit and revenue did beat the street last night but margins are below expectations. Sears has considered breaking off its lands end and sears auto businesses. Facebook looking for the social marketing revolution. And nbc reporting the Obama Administration knew millions would not be able to keep their Health Insurance under the new Affordable Care act. First up, though, apple did beat the street last night with its fiscal Fourth Quarter numbers. Profits fell, growth margins slid among heightened competition, despite the sale of 40 million iphones for the quarter. They see revenues 55 billion to 55 billion. Heres what ceo tim cook had to say last night on apples conference call. If terms of supply, into the quarter with a very significant backlog. However, our supply is building each week. In terms of the retina or the ipad mini where the resi
Intensifying. New data showing that the economy slowed at a pace than originally anticipated. Nasdaq starting off at a a closing high, and 14year high. And the guidance says it is experiencing severe disruption from the winter, and gap suggest suggests gaap suggests it will fall more than expected. And on mad mad money last night, cramer talked about raising investments. And we will hear from apples tim cook. And in the first full year results are lower after discovering fraud in the subsidiary in mexico, and they go into detail, jim. This is not a minor story, and i know that when you look at the big revenues of citi you say, so what, but this is a major client with a checkered history and it is a 360 million and they say, 230 million, but 360 million pretax the. Okay. And you think it is important because you look at 360 million pretax fraud resulting in a 235 million aftertax writedown and it gets complex. It is complex. But related to transactions between penmax and vanimax who is
Other members of the commission are presented. Theres two announcements the next scheduled commissioner meeting will be on tuesday april 29th at the 1 oclock p. M. The announcement of prohibition of Electronic Devices. And use of cell phones, Electronic Devices are prohibited at this meeting. Please be advised that the chair may order the removal from the meeting room responsible for the ringing or use of a cell phone, pager, or other similar soundproducing Electronic Devices. Announcement of times allocate for public members the members of the public may address the commission up to 3 minutes on each agenda item unless the commission adapts a shorter period of time. The members of the public foil out a speaker card provide by the secretary and submit the completed card. The next order of business is the action at the previous closed session and no reportable actions and item 4 is the matter of Unfinished Business no items. The next is item 5 the new business consisting of consent cale