shareholders vote on whether he could keep the job. and apple s tim cook arguing over the tax code and facing tough questions about his big pile of overseas cash. all that and more tonight on nightly business report for monday, may 20th. good evening, everyone. our top story tonight is yahoo, the granddaddy of internet search, older, if not bigger than google, is paying more than $1 billion for tumblr, a website that brings thousands of blogs and hundreds of millions of young users together every month. and those younger eyeballs, along with the money they could bring but haven t yet may be what yahoo s ceo marissa mayer is really after. john ford has more now on yahoo s big bet on tumblr. reporter: david karp is 26, a high school dropout, and now he s mega-rich. that s because karp is founder of tumblr, the blogging site yahoo just bought for $1.1 billion in cash. this isn t a get rich quick scenario. karp has been working on tumblr for years. reporter: since she
shareholders vote on whether he could keep the job. and apple s tim cook arguing over the tax code and facing tough questions about his big pile of overseas cash. all that and more tonight on nightly business report for monday, may 20th. good evening, everyone. our top story tonight is yahoo, the granddaddy of internet search, older, if not bigger than google, is paying more than $1 billion for tumblr, a website that brings thousands of blogs and hundreds of millions of young users together every month. and those younger eyeballs, along with the money they could bring but haven t yet may be what yahoo s ceo marissa mayer is really after. john ford has more now on yahoo s big bet on tumblr. reporter: david karp is 26, a high school dropout, and now he s mega-rich. that s because karp is founder of tumblr, the blogging site yahoo just bought for $1.1 billion in cash. this isn t a get rich quick scenario. karp has been working on tumblr for years. reporter: since she
as you can see, we ve retraced and move back closer to the unchanged line. futures ticked off and we had some down arrows. it has been mixed. what we have been seeing, for the most part, in this market, is the higher lows and higher highs. new highs for the automakers. we are watching general motors, in particular. right now you see it at 3391. it is worth noting that. obviously, these are some stellar times for the automakers. back to you. lori: thank you. ashley: lawmakers looking to get to the bottom of the irs scandal. now learning that president obama knew the irs is scandals as early as mid april. peter barnes is live on capitol hill with the very latest. peter: ashley, it always comes down to what did people know and when did they know it. a couple of committees of peer will continue the investigation. the house oversight and government reform committee will be holding a meeting this week as well. a six page letter requesting documents and details about how all of this
squeeze there. caterpillar having a good day today. the global machinery sales fell 9% in april as this is the biggest drop, it actually came in the asia pacific division where sales fell 20%. latin america was a bright spot, rising 28%. stock ended the day up. liz: chesapeake energy tapped robert lawler, a executive at anadarko to succeed chesapeake founder aubry mcclendon. he left the company in april. david: big shoes there to fill. yahoo! agreeing to buy social blogging site, tumblr for $1.1 billion in cash. a huge purchase. the company says tumblr will be independently operated as a separate business. they expect combination will grow traffic by 20%. liz: actavis agreed to acquire warner chilcott for $5 billion in all-stock deal. that will be the third largest specialty pharmaceutical player in the p.s. both names are moving higher. david: judd gregg, remember him, the form err u.s. senator has been advisor to goldman sachs. he was named ceo of the securities industry an
system slams ten states, leaving snow, ice and high winds in it s wake. the first warn weather team is tracking it all, including the storm s impact in maryland. hi, everybody i m sally thorner, kai is off today. a massive storm has been pounding the midwest and has hit the east coast this morning. the storm is being blamed for ten deaths. laguardia airport is seeing a lot of flight delays. reporter: the snow is piling up in kalamazoo, michigan. we re supposed to get more snow today. i ll probably be out here again tonight. reporter: it s the same story for millions in the midwest where the first big snowstorm of the season is leaving it s mark. heavy ice is making driving treacherous. powerful winds are pushing snow drifts 15 feet high and temperatures are expected to dip below zero. i hate it. i really hate it. reporter: the storm is making a mess of air travel across the u.s. hundreds of flights have been cancelled or delayed, adding up to a frustrating day for