That means they are raising it. 8 billion, making the biggest ipo in american history. The apple ceo takes shots at Companies Like facebook and twitter. He says that apple does not scan your emails and believes in telling customers upfront what will happen to their personal information. First, the lead story of the day. Billionaire Larry Ellison is stepping down as ceo of Software Giant oracle and will become a chairman and chief technology officer. He is the worlds seventh richest person, and has been the only ceo in oracle history. The company in 1977, growing into a world leader in Database Software with a market cap of more than 185 billion. Twong over for him are trusted deputies who will become coceos. They stress continuity. They deserve recognition, they deserve the ceo title, and i am happy that our Management Team continues forward as a team. Oracle shares are trading down at afterhours. Corey and is bill, san francisco, and the cofounder of a sun microsystems, which was sold
Biggest ipo in american history. The apple ceo takes shots at Companies Like facebook and twitter. He says that apple does not scan your emails and believes in telling customers upfront what will happen to their personal information. First, the lead story of the day. Billionaire Larry Ellison is stepping down as ceo of Software Giant oracle and will become a chairman and chief technology officer. He is the worlds seventh richest person, and has been the only ceo in oracle history. He cofounded the company in 1977, growing into a world leader in Database Software with a market cap of more than 185 billion. Taking over for him are two trusted deputies who will become coceos. They stress continuity. They deserve recognition, they deserve the ceo title, and i am happy that our Management Team continues forward as a team. Oracle shares are trading down at afterhours. Joining me is bill, corey and san francisco, and the cofounder of a sun microsystems, which was sold to oracle years ago. Tha
New inflation indicator that better measures the way consumers shift their purchases when prices rise. This is a technical adjustment that supporters of it and outside economists say is meant to make the governments estimates of inflation more accurate. Reporter that switch to a chained Consumer Price index would reduce future benefits for social security, and it would affect the way the i. R. S. Sets tax brackets, a move that would raise about 100 billion in new tax revenue over the next decade. Eventually, an average family would see its taxes rise by about 75. But tax analysts say the overall impact has to be weighed against other changes the president and Congress Plan to make. What youre also doing as part of this package is raising tax rates or at least allowing tax rates to go back where they were in the clinton years for high income people. That is quite progressive. This makes it just slightly less progressive, but on balance its not a bad package. Reporter but those tax rate
New inflation indicator that better measures the way consumers shift their purchases when prices rise. This is a technical adjustment that supporters of it and outside economists say is meant to make the governments estimates of inflation more accurate. Reporter that switch to a chained Consumer Price index would reduce future benefits for social security, and it would affect the way the i. R. S. Sets tax brackets, a move that would raise about 100 billion in new tax revenue over the next decade. Eventually, an average family would see its taxes rise by about 75. But tax analysts say the overall impact has to be weighed against other changes the president and Congress Plan to make. What youre also doing as part of this package is raising tax rates or at least allowing tax rates to go back where they were in the clinton years for high income people. That is quite progressive. This makes it just slightly less progressive, but on balance its not a bad package. Reporter but those tax rate
Were not that far apart. Just a few more steps the president suggested and republicans would have a deal in hand to tame the deficit for a decade. That is a significant achievement for them. They should be proud of it. But they keep on finding ways to say no as opposed to finding ways to say yes. And i dont know how much of that has to do with it is very hard for them to say yes to me. Reporter there now appear to be two key sticking points republicans want the president to offer up deeper cuts in entitlement spending totaling several hundred billion dollars over ten years. In return the president is determined to get a longterm extension of the nations debt limit. Last year, the fight over raising the debt limit brought the country to the edge of default. But House Republicans see the debt limit as a crucial check on spending. I think they are very, very reluctant to give up this leverage what they consider to be the last leverage they may have next year on trying to get real entitlem