Good morning, thanks for joining us, im erika gonzalez. Were waiting for the mayor whose office called this a public announcement. Tom sherwood who broke the story on twitter, that interim chief peter new sham is her pick. Megan mcgrath is live with more on what were hearing. Reporter good morning, guys, were expecting this press conference to start any minute now. Weve seen a number of people beginning to gather in the certificaemonial conference roo. You can see the members of the metropolitan Police Department and others who have gathered inside again for this announcement that is going to be happening here any minute now. Now, sources tells tom sherwood newsham to be the chief of police. He has been acting as interim chief since cathy lanier left. He rose up through the ranks, commander of the second district, promoted to assistant chief in charge of office of professional responsibility and later headed the Investigative Services bureau, most recently as the interim chief he handl
Morning saying they will go their separate ways. This after treasury decided to change the rules midstream. At least something of a surprise to the companies themselves. The three year look back that was introduced by the new regulations issued monday evening and made allergen a far Smaller Company and in doing the deal as a Smaller Company, pfizer would not be able to make itself a Foreign Company. And you dont want to do this any longer. Not that there werent other reasons for doing the deal but perhaps even bring that cash back to the u. S. But in a tax freemaner is one of the key reasons pfizer pursued the socalled inversion. Its very unclear whether well be able to do any of that kind of thing from here on in. We did speak to ceo Brent Saunders earlier on squawk on the street and i asked him to respond to criticism from the Obama Administration about Companies Like his who do so much business in the u. S. Are headquatered in many ways in the u. S. But for tax purposes its a dublin
Friday. You are watching Market Makers. Olivia i am Olivia Sterns in for Stephanie Ruhle. Erik we have some breaking economic news. Mike mckee is in the newsroom. Mike wholesale inventories up 1 10 of 1 . The forecast was for a 3 10 gain and this is why it matters. The Commerce Department assumed a big gain and inventories when it calculated gdp. This suggests we did not get it. The ford strike represented a lot of delayed imports coming in and they should come in wholesale inventories. They are not, and that may mean gdp in the First Quarter was even lower than we thought. The good news, they are set to build inventories and we may see accelerated not only imports but manufacturing. It is a number worth watching. It does tell us where the economy is. Olivia michael mckee, thank you so much. The labor market bounced back last month, adding 223,000 jobs in the month of april. The jobless rate falling by 1 10 of 1 to 5. 4 , the lowest level in seven years. All this after a march jobs rep
Quickly retreats and whether he see the cooler numbers from point reyes to ocean beach in San Francisco. We will talk about the rain coming our way perhaps midweek in a few minutes. Carolyn. Thank you lisa. A lot of questions this morning about a one alarm fire in san jose that not only destroyed a house. In this story you will seasonal on 7, police found 443 Marijuana Plants inside the house in the area of prairie wood court last night. Authorities say the fire started in the garage around 7 30. Neighbors say no one lived there but they did see people coming and going over the past couple of weeks. People that were recently here would come home and just pull their car in the garage and they would close the garage and they never really came through the front entry door. The pot is valued at half a million dollars. Police say the home by passed pg e and stole electricity to power the marijuana grow. A brazen crime caught on video. A pack of car thieves strikes four dealerships in one ni
Live from the kgotv broadcast center, this is abc 7 news. A brazen crime caught on video. A pack of car thieves strike four dealerships in one night. Now police are on their trail. Good evening, everyone. Im katie marzullo. Four Car Dealerships were ransacked and cars stolen. Two breakins have cost one Business Owner 50,000. Hive in fremont with the Surveillance Video. Reporter katie, three of those businesses areright here in this building and i was going over the Surveillance Video with one of those Business Owners and he realized that this group seems to be pretty well organized. One of the young men will case the property and then act as a lookout while the other young men break in ransack the place take car keys. Last night they even stole some cars. This is Surveillance Video of last nights breakin. Seven young men rushing into one of two Car Dealerships run by omar tahib. Breaking into our office and trying to find keys. There he goes to one of the cars we have parked in front s