Store. Shirts at 22. 50, and they got the whole rack. When police moved in to make the arrest, they found enough merchandise to fill a room. All taken in less than an hour without anyone inside the store noticing a thing. [ticking] we have never seen a problem of this size and magnitude in world history. Now hang on. In world history. Theres more counterfeiting going on in china now than weve ever seen anywhere. Name an american brand. Any brand. Any kind of product. Just name it, and well tell you something about it. Its probably being counterfeited in china as we speak. This is the most profitable criminal venture, as far as i know, on earth. Counterfeiting. Counterfeiting and your partners dont kill you. Welcome to 60 minutes on cnbc. Im steve kroft. In this edition, we look at the multibillion dollar business of international crime. First, we report on the theft of an eyepopping fortune stolen from the iraq treasury. Then we take a look at shoplifting gangs from south america. And
Look weak. Walmart may have protesters outside its doors on friday. Deer misses earnings, and the market shrugs it off. Turmoil in israel with a bomb explosion on board a bus today and a rumored ceasefire that never happened. Crude is up 1 as the secretary of state has arrived in cairo. A big day full of planes, trains and automobiles with tens of millions of americans set to embark on their Holiday Weekend journeys. Our phil lebeau is in chicago with more on the Holiday Travel landscape. How painful is it going to be . You know, carl f youre traveling, you always need a little more patience thanksgiving weekend. For the airlines, theyre keeping their fingers crossed because if you look at a map of the United States, you really dont see any major storm systems. That means if its a smooth weekend, you talked about this being important to the profitability of fourth quarter, thats certainly good news for the airlines. Take a look at the number of people who will be traveling this thanksg
In rockets crisscrossing the boardern once again . Will people take cover in their homes, will the celebrations ends and the fear return . For u. S. Secretary of state Hilary Clinton and president morsi, the hope is that the deal will stick. It calls for freedom of movement for palestinians in and out of gaza and a commitment not to target militants and commitment from militant groups in gaza, to halt rocket fire into israel. Again, a discussion nothing is a done deal. Over the next hour, well look at negotiations still happening now, well also hear from the spokeswoman for the Israeli Defense forces and the leader much hamas. Plus, a reporter on the ground and whole lot more. We begin with a look at what has transpired over the last 24 hours, and its remarkable there is a ceasefire at this hour when you consider how this wednesday started off. Take a look. At mid day, no sign of a truce when a city bus is bombed in tell aviv, two dozen people twounded. Terrorists left two bombs on the
Why youre watching this right now. President obamas solution to all this is to make a deal centered around increasing taxes on the wealthy which will go a good part of the way to raising the 1. 6 trillion in new revenue that he wants to raise over the next decade in his attempt to reduce the federal deficit. He wants to let the bush era tax cuts expire. If that happens, the top tax rate on income would jump from 36 to 39 . He likes to say thats where it was during the clinton years. The second top rate would go from 33 to 36 . Now this is what president obama campaigned on. Hes been vague about the specific numbers since his reelection which suggests that he may compromise on the actual rates in order to get a deal. There are other taxes as well that hes talking about. Taxes on investment gains would also go up. The Capital Gains tax could go from 15 to 20 and dividend taxes would go from 15 to the income tax rate. As i showed you, 39. 6 . Mitt romney argue this is would hurt individua
Gazans at this point. Wolf blitzer is eight miles from gazas border. Can you tell us anything about this building . The only thing i know about the building, there are several media organizations that have their base in gaza in that building. The israelis i spoke yesterday with an Israeli Army Spokesman who said there are also hamas organizations or hamas related infrastructure in that building. Thats why they say theyre targeting that building. But there are several arabic language news organizations based there. As you point out, carol, this is the second time the israelis have gone after that building. So other than what the israelis are saying, they say there are legitimate targets there, what were seeing on the ground from our own reporters, thats escalating into a pretty Serious Development even as diplomats are trying to achieve some sort of ceasefire. When you see whats going on that ceasefire looks increasingly remote. Lets see what happens behind the scenes there. I have hear