Latest Breaking News On - Lionel johnson - Page 6 : vimarsana.com

Garret Graves meets with officials from Ascension, Iberville, East Baton Rouge

Garret Graves meets with officials from Ascension, Iberville, East Baton Rouge Staff Report Garret Graves, the U.S. Representative for Louisiana's 6th congressional district, hosted local officials for a discussion on regional solution for the Bayou Manchac Watershed. Among the leaders in attendance were Ascension Parish President Clint Cointment, Iberville Parish President Mitchell Ourso, St. Gabriel Mayor Lionel Johnson, and several drainage representatives from East Baton Rouge, Ascension, and Iberville parishes. The purpose of the meeting was to discuss utilizing funding, information from constituents, and ideas from discussions to move toward quicker solutions. In the wake of huge flooding events, notably August 2016 and May 2021, area leaders are looking a multi-parish strategy to flood protections, as opposed to investing in isolated projects.

Iberville Parish joins moratorium discussion, vote next week

IBERVILLE PARISH – On Tuesday night, the Iberville Parish Council introduced an ordinance to temporarily halt future subdivision development on the East side of the parish. This only begins the discussion.

St. Gabriel mayor says a multi-parish approach is need to flooding

St. Gabriel Mayor Lionel Johnson has seen plenty of changes during his 10 years in office, but last week’s storms reminded him once again about the city’s greatest challenge.

Pentagon police officer charged with murder after shooting in Maryland - TheGrio

Pentagon police officer charged with murder after shooting in Maryland Officer David Hall Dixon was off-duty in Maryland when he fired his weapon at two individuals Officer David Hall Dixon was off-duty in Maryland when he fired his weapon at two individuals he assumed were attempting to steal a car. He was taken into custody and charged with two counts of murder on Friday. According to  Montgomery County State’s Attorney John McCarthy, he is being held without bond. The incident took place at 5 a.m. on Wednesday. The officer thought he witnessed individuals stealing a car in a condominium complex. As the individuals drove off, he shot after them. When officers arrived on the scene, they found Dixon, who identified himself as a Pentagon officer and a complex resident.

PPI Board Elects Angela Rodell as Chair and Mark Delaney as Vice Chair

PPI Board Elects Angela Rodell as Chair and Mark Delaney as Vice Chair

Jamaica: 4 Hacked to Death in Grisly Homeless Murder Spree - The St Kitts Nevis Observer

The St Kitts Nevis Observer Lionel Johnson, 47, lights a cigarette while sitting outside the Kingston and St Andrew Municipal Corporation temporary night shelter on Church Street. Deported from New York almost two decades ago, Johnson said he has no relatives here in Jamaica. He said he was shocked to hear about the brutal attacks on the homeless that left four dead and two injured.   The cold, haunting streets of Kingston were frozen with fear on Monday night as the capital’s nomads snuggled in corners or retreated to shelters in the aftermath of the grisly murders of four homeless men and the wounding of two others.

Book World: How did all these books get into my house? There's a method to what seems like madness.

Skip to main content Currently Reading Book World: How did all these books get into my house? There's a method to what seems like madness. Michael Dirda, The Washington Post Jan. 6, 2021 FacebookTwitterEmail Oscar WildeVintage/Handout Even though I gave away or sold perhaps 150 boxes of books in 2020, the stunned amazement of anyone who wanders into my basement or attic apparently remains, to quote Sherlock Holmes, the one fixed point in a changing age. Admittedly, only a small number of people crossed my threshold during this time of coronavirus restrictions, but most never even bothered to ask, "Have you read all these books?" They just stood dumbfounded, though a few were overheard to murmur, "I feel sorry for his poor wife" or, more rarely, "There, but for the grace of God, go I." My living room, to my delight if no one else's, can now pass as the ramshackle library of an impoverished London club circa 1895. More and more often, I settle into a shabby, cat-clawed wing chair with the day's newspapers and periodically snort "Harrumph!" or grumble that the world is going to hell in a handbasket.

Transcripts For KQEH Nightly Business Report 20110520

this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. one more night in jail for dominque strauss-kahn. the former chief of the international monetary fund will be released tomorrow on $1 million bail. susie, a federal judge granted bail late today, pending strauss-kahn's trial on charges he sexually assaulted a hotel maid in new york city. >> susie: tom, those charges forced strauss-kahn to resign as the i.m.f.'s chief, and also set in motion a high-profile search for his replacement. it's a coveted job-- the i.m.f. acts like the top central banker for the global financial system. >> tom: and it's also a pressure cooker job, given the state of the world's finances. acting chief john lipsky today called the global economy shaky. speaking to world bankers, lipsky said the global recovery is "fragile and beset by uncertainties." >> susie: joining us now to talk more about all this-- scott macdonald, head of economic research at aladdin capital. hi, scott. >> hi, susie, how are you doing? >> susie: i'm good, thank you. let's start out by talking about who is going to get the job. and the two names that everyone is talking about is the christine laguard, france's finance minister and also jean claude trichet, the head of the european central bank. what are your thoughts? >> i think both candidates have impressive resumes. i think lagarde has done a good job as finance minister of france and it appears there's a could laesing behind her by other europeans. it will be critical for her to get support from people like angela merckel. but either candidate is very well qualified. the big issue here is do the europeans get the chance to put another person from europe into that seat. >> susie: that's right, because we have been hearing from a lot of the asian nations saying that they want someone from one of the emerging market countries to head up the i.m.f.. how do you think -- and this job never goes to an american. so how do you think this whole thing is going to play out? >> well, i think there's going to be a lot of talk. there will be an advancement of a number of candidates. certainly you've looked at people like manuel trevor from south africa, a former finance minister, and also very prominent in the south african government. there's a lot of good people out there. but i think at the end of the day the question is developing momentum, selecting the candidate, i think the europeans have like i said they have already started to coalesce behind lagarde, i think she's got a good shot at it. if the emerging markets want a candidate, they'll have to be more unified in their approach to getting that team. >> susie: no matter what person get this is job, a lot on their plate to deal with, particularly with the european debt crisis. and looking at this graphic of the countrys in need of help, we see that greece is at the top of the list. its debt account for 130% of its g. d. p., italy, belgium right behind with more than 100%. can europe solve these problems? how long is did it it going to take no hearth who is in charge of the i.m.f.? >> no matter who is in charge, i think it's going to take a couple years, maybe longer to sort out. unfortunately the european sovereign debt crisis does remind me a lot of the play that occured in latin america, took the 80s and 90s to settle a lot of the debt problems there. ultimately the lack of government solutions ended up in the market pushing for market solutions. i think in greece in particular a very good chance of a debt restructuring, which has pain sharing by private investors are going to have to take a haircut at some point with their debt. so there's a long period of structural adjustment here. but there's a big push in nervousness in markets to resolve the debt issue. >> susie: then there's the other side of this whole debt crisis, the countrys in europe that are doing better, that are growing, let's take a look at the list there. the stronger european countries, sweden's economy at the top. expected to grow 4.3% this year. the rest of the euro zone nation growing between 2%, 3% in their economies. how are these weak countries impacting the growth prospects for the healthier ones? >> well, i think the issue is the stronger economies have done well because of export generation. the issue that they face is that if the weak countries, the peripheral economies, if they continue to have problems, if they really take a slump further in terms of economic growth, and they default on their debt, it's going to impact the wealthier, the more dynamic northern economies, right through the financial system. the banks, the insurance companies, pension funds, all of these institutions hold debt from southern european countries. so there's a real point of concern here, as you go forward, that as the debt pla playout occurs here and the risk of a restructuring increases you have to wonder about the impact on european financial institutions. >> susie: all right. and all that has an impact on the global economy. thank you so much scott for coming on the program tonight. >> thank you very much. >> susie: we've been speaking with scott macdonald, head of economic research at aladdin capital. >> tom: president obama today laid out his vision for the middle east. the most controversial call-- for israel to return to its 1967 borders in exchange for peace. the president also wants to give the region an economic boost, saying the best way to bring democracy is to bring prosperity. darren gersh reports. >> reporter: the arab spring was not just a political revolution; the president says the protests across the region were also driven by people concerned about putting food on their tables. that economic concern will have to be addressed, the president says, if the transition to democracy in the middle east is to succeed. >> we think it's important to focus on trade, not just aid; on investment, not just assistance. the goal must be a model in which protectionism gives way to openness, the reins of commerce pass from the few to the many, and the economy generates jobs for the young. >> reporter: the president wants world leaders to consider a plan at next week's g8 summit to modernize the economies of tunisia and egypt. he hopes to forgive $1 billion of egyptian debt, and guarantee a $1 billion loan to finance infrastructure and job creation, create enterprise funds to invest in tunisia and egypt, and support that with $2 billion in trade finance. and the president is proposing a comprehensive trade and investment partnership in the region. it is an ambitious agenda aimed at overcoming 60 years of centralized control and crony capitalism. in egypt, the military still has deep ties to the economy and the brooking's institution's raj desai says a small circle controls most resources. >> these people have not gone away, and so challenging their... their control over economic life is going to be a major obstacle. >> reporter: but american businesses like coca cola, ibm, and intel are looking for new markets in egypt and tunisia. the u.s. chamber of commerce is taking those and other companies to the region next week. lionel johnson is helping organize the trip, and says there are large investment opportunities in upgrading ports and roads, replacing old phone systems, and developing solar energy. >> it's a big opportunity that we take very, very seriously, and we are going to do everything that we can to partner with the egyptians and the tunisians and their private sectors to create these opportunities. >> reporter: but whether egypt and tunisia make good on those opportunities will depend on their willingness to open not only their political systems, but their economies as well. darren gersh, "nightly business report," washington. >> susie: here are the stories in tonight's "n.b.r. newswheel." linkedin was the talk of wall street-- the stunning i.p.o. helped push stocks higher. the dow rose 45 points, the nasdaq was up eight, and the s&p 500 added almost three. we'll have more on that big i.p.o. in just a few moments. trading volume down from yesterday-- 871 million shares moved on the big board; 1.7 billion on the nasdaq. a bigger than expected dip in new claims for jobless benefits in the past week suggests the economy continues to add jobs slowly. claims fell by 29,000 to 409,000. sales of existing homes nudged lower last month. april's numbers fell eight tenths of a percent from march. new data show the nation's median home price is now $163,700. and the massive earthquake and tsunami that struck japan in march has thrown the asian nation into recession. the japanese economy shrank at an annual rate of 3.7% in the first quarter as the disaster sidelined many of the nation's factories. still ahead-- what's more popular with teens, an ipad or new clothes? we look at the surprising new challenges facing teen retailers. . stocks were choppy with no specific direction today, but the major indices were able to put together their second day of gains. there was a long list of retailers' quarterly results. after the close, the market focus fell on the gap. americans can now buy stock in linkedin, the site became the first social network to go public, and what hey debut today. the i. p. o. price was $45 per share, the stock opened at 83 per share and closed tonight at 94.25, that's more than double from its offering price. the i. p. o. strategist joins us tonight from chicago. so bill, quite the debut for linkedin. do you buy it or sell it at 94 and change? >> you know, we're a seller right now at 94. we think whether you look at pretty a fun meant standpoint, discounted cash flow, you know, melt pulls, -- multiples, price to earnings, whatever, there's nothing that can justify how high this stock climbed. when it went from 32 to 45 to 42 to 45 a couple days ago that that would take away some of the tail winds of the cushion on the secondary market and clear i was wrong because it skyrocketed today. >> tom: it hit a high of over $1 to per share at one point. what do you think is driving demand, purely emotions? >> i think it's a little of emotion. this is the first mover of the social networking platform type company. i think a lot of people want exposure to this sector, and i think linkedin has benefited from the fact that they brought their deal first and kind of caught the wave of just sentiment and investor buzz around this space right now. we think will continue with the eventually facebook and twilters, but for now linkedin kind of stands alone and are obviously huge winners today. >> tom: so would you, you would be a seller at these prices. it had net revenues of a million, five years later 120 million in top line revenues, you didn't argue that that kind of growth, can you? >> no, there's absolutely a growth story that's going to play out here. i think we're projecting 100% growth from 2010 to 2011. we think the network that they have, the 70 million plus users that will have value, but at some point when you line up the multiples and you look at the actual discounted cash, you've got to make some pretty madey assumptions to get to a share price of which the company is trading at right now. and frankly we just can't get to it. >> tom: all right, final moms here, bill what do you think the message is that the market is sending to other online social networking companies, possibly considering going public, facebook and twitter? >> clearly this is a space that everyone has their eyes on right now and if i'm a facebook or twitter and i'm thinking about doing my deal in 2012, you got to strike while the iron is hot and right now is the best time to go public. i wouldn't be surprised if some of these executives looked at linkedin's performance today and thought maybe it makes sense for us to fast track our i. p. o. and take advantage of the momentum that this space is generating right now. >> tom: just to be clear, bill, are you short linkedin or any position at all? >> no. we have no position. in the stock. >> tom: bill with us morningstar. >> tom:. >> susie: tom that i. p. out were just talking about was the real excitement of the day here. but other than that, investors kind of concerned about the economy. good news on jobless claims. but not so good news about manufacturing activity. so that tempered the mood. >> tom: it did temper the mood, some indecisiveness going on with the major stock indexes here, no doubt about it. let's get everybody updated with tonight's market focus. stocks were choppy with no specific direction today, but the major indices were able to put together their second day of gains. there was a long list of retailers' quarterly results. after the close, the market focus fell on the gap. earnings were a penny better than estimates, but margins fell as same-store sales at its gap, old navy, and banana republic stores dropped. gap shares were mildly stronger during the regular session, continuing to add to its recent rally, which has taken the stock to within pennies of a new 52- week high. but with the store cutting its outlook, shares fell as much as 13% after the close, taking the stock down to around $20 per share. other retailers getting hit during today include sears holdings. same-store sales remain a problem. executives blamed bad weather and a sour economy. shares fell 2.6% to their lowest price since january. williams-sonoma dropped almost 5%. despite better than expected earnings, some analysts voiced worries about the growth of online sales and pressure on profit margins. the buckle became unhinged, falling 14% on disappointing results. discount store big lots saw its stock become cheaper today. the company had been shopping itself around for a potential buyer, but "the wall street journal" reports offers came in less than hoped for. while we're talking about discount retailers, dollar tree saw its first quarter profit jump, and its shares along with it. this is a new 52-week high, coming on better than three times average volume. the store increased its earnings outlook. cloud computing software firm salesforce.com released these results after the close. it beat the street by a penny per share. operating costs increased, but revenues were stronger than anticipated. shares were 1% before the numbers, and added another 7% after the close. if that holds until tomorrow, it will bring shares to about $5 below this high hit in december. airline stocks found buyers today, with u.s. airways delta and united continental leading the industry. u.s. airways and delta say demand is picking up, and delta also announced its latest cut to capacity due to high fuel prices. on the buyout beat, medical instrument maker thermo fisher is buying the allergy testing business of a private swedish firm. the deal sent thermo up more than 4% to an all-time high. thermo was the best performing health care stock today, while the broad health care sector was the weakest in the market. industrial stocks were the strongest. investment management firm blackrock is making a $2.5 billion investment in itself. blackrock is buying back bank of america's stake in it. blackrock jumped 2.5%; b-of-a slipped a fraction. finally, goldman sachs cut its rating on intel over worries about oversupply of semiconductors. this is the past 90 sessions of intel, and it has seen a nice rally since its last quarterly earnings in april, sending shares up 20% before today's drop of 1.4%. and that's tonight's "market focus." >> susie: more proof today that digital media is gaining in popularity. amazon is now selling more electronic books than print ones. that includes both hardcover and paperbacks. amazon also says its new lower priced kindle e-reader is outselling other versions of the device. the kindle came on the scene four years ago, and is by far the best-selling reader made specifically for e-books. >> susie: at a time when many teen retailers are struggling, wet seal announced solid first quarter results today. earnings were double what they were a year ago. but the chain warned it may not be able to match that performance in the current quarter. one headwind for wet seal and its rivals is a record teen unemployment rate-- close to 25%. erika miller looks at whether teen retail stocks have any chance of breaking into the popular crowd on wall street. >> reporter: teen retail is a fickle business. what's in style one week is often out the next. and if the clothes are priced too high, shoppers will move on to the next store in the mall. but there's another challenge facing stores-- many teens aren't spending as much on clothing anymore. >> now, i have to cut down on it, because the prices are going up. >> >> i don't have as much extra cash around just to spend. >> reporter: it's against this backdrop that japanese retailer uniqlo is trying to break into the u.s. market. the chain offers casual basics and is often compared to gap. at the company's new york city showroom, u.s. c.e.o. shin odake admits his competition is not just clothing stores. >> we are also competing against the other industries, such as computer industry, phone devices. we are not just competing against gap. people's wallets is limited, so it's up to them what they are going to spend. so if you cannot offer new items or innovative product, they are going to buy something else. >> reporter: when it comes to innovation, wet seal often gets high marks. the stock is hovering at its highest level in more than a year. the reason is not just what's on the racks. analyst brian sozzi says the store's social media strategy is the best in the business. >> their online sales have been phenomenal. it's no longer put up a web site, and if you build it, they will come. you have to stand out, and what they are doing is something called co-shopping, where you can get two people online at the same time. you discuss the purchase, and it's leading to increased transactions. >> reporter: so, what about the three as-- abercrombie and fitch, american eagle outfitters, and aeropostale? analyst brian tunick says abercrombie is the only teen mall stock to buy, because of it's aggressive international expansion. the chain is a client of his firm. >> i think we are in a very different time here. i don't think margins have a lot of room to improve here. it's all about the international and what kind of brand content do we have to bring overseas, where they are paying a much bigger premium for u.s. brands. >> reporter: the economy is a major factor that will determine teen apparel spending. but there may also be a cultural shift. for many teens, status is now earned through popularity on facebook instead of the logo on their clothes. erika miller, "nightly business report," new york. >> tom: here's what we're watching for tomorrow: jeff everett of everkey global partners is back as our "market monitor" guest. he's checking out investment opportunities in japan. also tomorrow, as recent college graduates get ready to enter the job market, we look at their expectations and employment prospects. >> susie: fixed mortgage rates continue to inch lower and are now at their lowest level of the year. the average rate on the 30-year loan fell to 4.61%, according to freddie mac. the average 15-year fixed mortgage is now 3.8%. low rates haven't been enough to jumpstart the weak housing market. but the mortgage bankers association says the number of borrowers looking to refinance is now at the highest level since december. >> tom: parents should decide what to feed their kids. so says mcdonald's c.e.o. jim skinner. but at the same time, he defended the fast food giant's right to advertise its menu offerings to children. a watchdog group called corporate accountability international placed ads in u.s. newspapers yesterday, asking the company to stop marketing to children and to retire ronald mcdonald as a mascot. skinner called the red-haired clown an ambassador for good and said ronald mcdonald isn't going anywhere. >> susie: teaching your kids the value of a dollar. it sounds easy, but try explaining it to a six-year-old throwing a tantrum in the checkout line. in tonight's "kids and cash," one girl's firsthand experience learning the meaning of money. here's author and future entrepreneur bethany hu-wong. >> every year when chinese new year came, i'd receive some cash in the traditional chinese red envelopes. i had always dreamed of everything i could buy with the money. best of all, i could buy anything that i want, and quickly spent it all. money was like growing on a tree to me at the time. one year, before christmas, i bought toys and necessities to pack a shoebox full for samaritans purse, a charity that my church supported. that was the first time i actually spent my money wisely, and learned the true value and meaning of money, which was to spend it in the right way. i have always loved business ever since third grade. i have also come up with many great business ideas, and some of them even went into business. one of them was a recipe that i sent to a local café, and it quickly became a bestseller. publishing my debut novel at the age of ten gave me an opportunity to learn more about business. i have gradually come to realize that i want to become an entrepreneur someday. i hope to come back to the "nightly business report" as a successful entrepreneur in several years. i'm bethany huang. >> susie: that's "nightly business report" for thursday, may 19. i'm susie gharib. good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. good night, everybody. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> be more. pbs.

Transcripts For KQED Nightly Business Report 20110520

this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. one more night in jail for dominque strauss-kahn. the former chief of the international monetary fund will be released tomorrow on $1 million bail. susie, a federal judge granted bail late today, pending strauss-kahn's trial on charges he sexually assaulted a hotel maid in new york city. >> susie: tom, those charges forced strauss-kahn to resign as the i.m.f.'s chief, and also set in motion a high-profile search for his replacement. it's a coveted job-- the i.m.f. acts like the top central banker for the global financial system. >> tom: and it's also a pressure cooker job, given the state of the world's finances. acting chief john lipsky today called the global economy shaky. speaking to world bankers, lipsky said the global recovery is "fragile and beset by uncertainties." >> susie: joining us now to talk more about all this-- scott macdonald, head of economic research at aladdin capital. hi, scott. >> hi, susie, how are you doing? >> susie: i'm good, thank you. let's start out by talking about who is going to get the job. and the two names that everyone is talking about is the christine laguard, france's finance minister and also jean claude trichet, the head of the european central bank. what are your thoughts? >> i think both candidates have impressive resumes. i think lagarde has done a good job as finance minister of france and it appears there's a could laesing behind her by other europeans. it will be critical for her to get support from people like angela merckel. but either candidate is very well qualified. the big issue here is do the europeans get the chance to put another person from europe into that seat. >> susie: that's right, because we have been hearing from a lot of the asian nations saying that they want someone from one of the emerging market countries to head up the i.m.f.. how do you think -- and this job never goes to an american. so how do you think this whole thing is going to play out? >> well, i think there's going to be a lot of talk. there will be an advancement of a number of candidates. certainly you've looked at people like manuel trevor from south africa, a former finance minister, and also very prominent in the south african government. there's a lot of good people out there. but i think at the end of the day the question is developing momentum, selecting the candidate, i think the europeans have like i said they have already started to coalesce behind lagarde, i think she's got a good shot at it. if the emerging markets want a candidate, they'll have to be more unified in their approach to getting that team. >> susie: no matter what person get this is job, a lot on their plate to deal with, particularly with the european debt crisis. and looking at this graphic of the countrys in need of help, we see that greece is at the top of the list. its debt account for 130% of its g. d. p., italy, belgium right behind with more than 100%. can europe solve these problems? how long is did it it going to take no hearth who is in charge of the i.m.f.? >> no matter who is in charge, i think it's going to take a couple years, maybe longer to sort out. unfortunately the european sovereign debt crisis does remind me a lot of the play that occured in latin america, took the 80s and 90s to settle a lot of the debt problems there. ultimately the lack of government solutions ended up in the market pushing for market solutions. i think in greece in particular a very good chance of a debt restructuring, which has pain sharing by private investors are going to have to take a haircut at some point with their debt. so there's a long period of structural adjustment here. but there's a big push in nervousness in markets to resolve the debt issue. >> susie: then there's the other side of this whole debt crisis, the countrys in europe that are doing better, that are growing, let's take a look at the list there. the stronger european countries, sweden's economy at the top. expected to grow 4.3% this year. the rest of the euro zone nation growing between 2%, 3% in their economies. how are these weak countries impacting the growth prospects for the healthier ones? >> well, i think the issue is the stronger economies have done well because of export generation. the issue that they face is that if the weak countries, the peripheral economies, if they continue to have problems, if they really take a slump further in terms of economic growth, and they default on their debt, it's going to impact the wealthier, the more dynamic northern economies, right through the financial system. the banks, the insurance companies, pension funds, all of these institutions hold debt from southern european countries. so there's a real point of concern here, as you go forward, that as the debt pla playout occurs here and the risk of a restructuring increases you have to wonder about the impact on european financial institutions. >> susie: all right. and all that has an impact on the global economy. thank you so much scott for coming on the program tonight. >> thank you very much. >> susie: we've been speaking with scott macdonald, head of economic research at aladdin capital. >> tom: president obama today laid out his vision for the middle east. the most controversial call-- for israel to return to its 1967 borders in exchange for peace. the president also wants to give the region an economic boost, saying the best way to bring democracy is to bring prosperity. darren gersh reports. >> reporter: the arab spring was not just a political revolution; the president says the protests across the region were also driven by people concerned about putting food on their tables. that economic concern will have to be addressed, the president says, if the transition to democracy in the middle east is to succeed. >> we think it's important to focus on trade, not just aid; on investment, not just assistance. the goal must be a model in which protectionism gives way to openness, the reins of commerce pass from the few to the many, and the economy generates jobs for the young. >> reporter: the president wants world leaders to consider a plan at next week's g8 summit to modernize the economies of tunisia and egypt. he hopes to forgive $1 billion of egyptian debt, and guarantee a $1 billion loan to finance infrastructure and job creation, create enterprise funds to invest in tunisia and egypt, and support that with $2 billion in trade finance. and the president is proposing a comprehensive trade and investment partnership in the region. it is an ambitious agenda aimed at overcoming 60 years of centralized control and crony capitalism. in egypt, the military still has deep ties to the economy and the brooking's institution's raj desai says a small circle controls most resources. >> these people have not gone away, and so challenging their... their control over economic life is going to be a major obstacle. >> reporter: but american businesses like coca cola, ibm, and intel are looking for new markets in egypt and tunisia. the u.s. chamber of commerce is taking those and other companies to the region next week. lionel johnson is helping organize the trip, and says there are large investment opportunities in upgrading ports and roads, replacing old phone systems, and developing solar energy. >> it's a big opportunity that we take very, very seriously, and we are going to do everything that we can to partner with the egyptians and the tunisians and their private sectors to create these opportunities. >> reporter: but whether egypt and tunisia make good on those opportunities will depend on their willingness to open not only their political systems, but their economies as well. darren gersh, "nightly business report," washington. >> susie: here are the stories in tonight's "n.b.r. newswheel." linkedin was the talk of wall street-- the stunning i.p.o. helped push stocks higher. the dow rose 45 points, the nasdaq was up eight, and the s&p 500 added almost three. we'll have more on that big i.p.o. in just a few moments. trading volume down from yesterday-- 871 million shares moved on the big board; 1.7 billion on the nasdaq. a bigger than expected dip in new claims for jobless benefits in the past week suggests the economy continues to add jobs slowly. claims fell by 29,000 to 409,000. sales of existing homes nudged lower last month. april's numbers fell eight tenths of a percent from march. new data show the nation's median home price is now $163,700. and the massive earthquake and tsunami that struck japan in march has thrown the asian nation into recession. the japanese economy shrank at an annual rate of 3.7% in the first quarter as the disaster sidelined many of the nation's factories. still ahead-- what's more popular with teens, an ipad or new clothes? we look at the surprising new challenges facing teen retailers. . stocks were choppy with no specific direction today, but the major indices were able to put together their second day of gains. there was a long list of retailers' quarterly results. after the close, the market focus fell on the gap. americans can now buy stock in linkedin, the site became the first social network to go public, and what hey debut today. the i. p. o. price was $45 per share, the stock opened at 83 per share and closed tonight at 94.25, that's more than double from its offering price. the i. p. o. strategist joins us tonight from chicago. so bill, quite the debut for linkedin. do you buy it or sell it at 94 and change? >> you know, we're a seller right now at 94. we think whether you look at pretty a fun meant standpoint, discounted cash flow, you know, melt pulls, -- multiples, price to earnings, whatever, there's nothing that can justify how high this stock climbed. when it went from 32 to 45 to 42 to 45 a couple days ago that that would take away some of the tail winds of the cushion on the secondary market and clear i was wrong because it skyrocketed today. >> tom: it hit a high of over $1 to per share at one point. what do you think is driving demand, purely emotions? >> i think it's a little of emotion. this is the first mover of the social networking platform type company. i think a lot of people want exposure to this sector, and i think linkedin has benefited from the fact that they brought their deal first and kind of caught the wave of just sentiment and investor buzz around this space right now. we think will continue with the eventually facebook and twilters, but for now linkedin kind of stands alone and are obviously huge winners today. >> tom: so would you, you would be a seller at these prices. it had net revenues of a million, five years later 120 million in top line revenues, you didn't argue that that kind of growth, can you? >> no, there's absolutely a growth story that's going to play out here. i think we're projecting 100% growth from 2010 to 2011. we think the network that they have, the 70 million plus users that will have value, but at some point when you line up the multiples and you look at the actual discounted cash, you've got to make some pretty madey assumptions to get to a share price of which the company is trading at right now. and frankly we just can't get to it. >> tom: all right, final moms here, bill what do you think the message is that the market is sending to other online social networking companies, possibly considering going public, facebook and twitter? >> clearly this is a space that everyone has their eyes on right now and if i'm a facebook or twitter and i'm thinking about doing my deal in 2012, you got to strike while the iron is hot and right now is the best time to go public. i wouldn't be surprised if some of these executives looked at linkedin's performance today and thought maybe it makes sense for us to fast track our i. p. o. and take advantage of the momentum that this space is generating right now. >> tom: just to be clear, bill, are you short linkedin or any position at all? >> no. we have no position. in the stock. >> tom: bill with us morningstar. >> tom:. >> susie: tom that i. p. out were just talking about was the real excitement of the day here. but other than that, investors kind of concerned about the economy. good news on jobless claims. but not so good news about manufacturing activity. so that tempered the mood. >> tom: it did temper the mood, some indecisiveness going on with the major stock indexes here, no doubt about it. let's get everybody updated with tonight's market focus. stocks were choppy with no specific direction today, but the major indices were able to put together their second day of gains. there was a long list of retailers' quarterly results. after the close, the market focus fell on the gap. earnings were a penny better than estimates, but margins fell as same-store sales at its gap, old navy, and banana republic stores dropped. gap shares were mildly stronger during the regular session, continuing to add to its recent rally, which has taken the stock to within pennies of a new 52- week high. but with the store cutting its outlook, shares fell as much as 13% after the close, taking the stock down to around $20 per share. other retailers getting hit during today include sears holdings. same-store sales remain a problem. executives blamed bad weather and a sour economy. shares fell 2.6% to their lowest price since january. williams-sonoma dropped almost 5%. despite better than expected earnings, some analysts voiced worries about the growth of online sales and pressure on profit margins. the buckle became unhinged, falling 14% on disappointing results. discount store big lots saw its stock become cheaper today. the company had been shopping itself around for a potential buyer, but "the wall street journal" reports offers came in less than hoped for. while we're talking about discount retailers, dollar tree saw its first quarter profit jump, and its shares along with it. this is a new 52-week high, coming on better than three times average volume. the store increased its earnings outlook. cloud computing software firm salesforce.com released these results after the close. it beat the street by a penny per share. operating costs increased, but revenues were stronger than anticipated. shares were 1% before the numbers, and added another 7% after the close. if that holds until tomorrow, it will bring shares to about $5 below this high hit in december. airline stocks found buyers today, with u.s. airways delta and united continental leading the industry. u.s. airways and delta say demand is picking up, and delta also announced its latest cut to capacity due to high fuel prices. on the buyout beat, medical instrument maker thermo fisher is buying the allergy testing business of a private swedish firm. the deal sent thermo up more than 4% to an all-time high. thermo was the best performing health care stock today, while the broad health care sector was the weakest in the market. industrial stocks were the strongest. investment management firm blackrock is making a $2.5 billion investment in itself. blackrock is buying back bank of america's stake in it. blackrock jumped 2.5%; b-of-a slipped a fraction. finally, goldman sachs cut its rating on intel over worries about oversupply of semiconductors. this is the past 90 sessions of intel, and it has seen a nice rally since its last quarterly earnings in april, sending shares up 20% before today's drop of 1.4%. and that's tonight's "market focus." >> susie: more proof today that digital media is gaining in popularity. amazon is now selling more electronic books than print ones. that includes both hardcover and paperbacks. amazon also says its new lower priced kindle e-reader is outselling other versions of the device. the kindle came on the scene four years ago, and is by far the best-selling reader made specifically for e-books. >> susie: at a time when many teen retailers are struggling, wet seal announced solid first quarter results today. earnings were double what they were a year ago. but the chain warned it may not be able to match that performance in the current quarter. one headwind for wet seal and its rivals is a record teen unemployment rate-- close to 25%. erika miller looks at whether teen retail stocks have any chance of breaking into the popular crowd on wall street. >> reporter: teen retail is a fickle business. what's in style one week is often out the next. and if the clothes are priced too high, shoppers will move on to the next store in the mall. but there's another challenge facing stores-- many teens aren't spending as much on clothing anymore. >> now, i have to cut down on it, because the prices are going up. >> >> i don't have as much extra cash around just to spend. >> reporter: it's against this backdrop that japanese retailer uniqlo is trying to break into the u.s. market. the chain offers casual basics and is often compared to gap. at the company's new york city showroom, u.s. c.e.o. shin odake admits his competition is not just clothing stores. >> we are also competing against the other industries, such as computer industry, phone devices. we are not just competing against gap. people's wallets is limited, so it's up to them what they are going to spend. so if you cannot offer new items or innovative product, they are going to buy something else. >> reporter: when it comes to innovation, wet seal often gets high marks. the stock is hovering at its highest level in more than a year. the reason is not just what's on the racks. analyst brian sozzi says the store's social media strategy is the best in the business. >> their online sales have been phenomenal. it's no longer put up a web site, and if you build it, they will come. you have to stand out, and what they are doing is something called co-shopping, where you can get two people online at the same time. you discuss the purchase, and it's leading to increased transactions. >> reporter: so, what about the three as-- abercrombie and fitch, american eagle outfitters, and aeropostale? analyst brian tunick says abercrombie is the only teen mall stock to buy, because of it's aggressive international expansion. the chain is a client of his firm. >> i think we are in a very different time here. i don't think margins have a lot of room to improve here. it's all about the international and what kind of brand content do we have to bring overseas, where they are paying a much bigger premium for u.s. brands. >> reporter: the economy is a major factor that will determine teen apparel spending. but there may also be a cultural shift. for many teens, status is now earned through popularity on facebook instead of the logo on their clothes. erika miller, "nightly business report," new york. >> tom: here's what we're watching for tomorrow: jeff everett of everkey global partners is back as our "market monitor" guest. he's checking out investment opportunities in japan. also tomorrow, as recent college graduates get ready to enter the job market, we look at their expectations and employment prospects. >> susie: fixed mortgage rates continue to inch lower and are now at their lowest level of the year. the average rate on the 30-year loan fell to 4.61%, according to freddie mac. the average 15-year fixed mortgage is now 3.8%. low rates haven't been enough to jumpstart the weak housing market. but the mortgage bankers association says the number of borrowers looking to refinance is now at the highest level since december. >> tom: parents should decide what to feed their kids. so says mcdonald's c.e.o. jim skinner. but at the same time, he defended the fast food giant's right to advertise its menu offerings to children. a watchdog group called corporate accountability international placed ads in u.s. newspapers yesterday, asking the company to stop marketing to children and to retire ronald mcdonald as a mascot. skinner called the red-haired clown an ambassador for good and said ronald mcdonald isn't going anywhere. >> susie: teaching your kids the value of a dollar. it sounds easy, but try explaining it to a six-year-old throwing a tantrum in the checkout line. in tonight's "kids and cash," one girl's firsthand experience learning the meaning of money. here's author and future entrepreneur bethany hu-wong. >> every year when chinese new year came, i'd receive some cash in the traditional chinese red envelopes. i had always dreamed of everything i could buy with the money. best of all, i could buy anything that i want, and quickly spent it all. money was like growing on a tree to me at the time. one year, before christmas, i bought toys and necessities to pack a shoebox full for samaritans purse, a charity that my church supported. that was the first time i actually spent my money wisely, and learned the true value and meaning of money, which was to spend it in the right way. i have always loved business ever since third grade. i have also come up with many great business ideas, and some of them even went into business. one of them was a recipe that i sent to a local café, and it quickly became a bestseller. publishing my debut novel at the age of ten gave me an opportunity to learn more about business. i have gradually come to realize that i want to become an entrepreneur someday. i hope to come back to the "nightly business report" as a successful entrepreneur in several years. i'm bethany huang. >> susie: that's "nightly business report" for thursday, may 19. i'm susie gharib. good night, everyone, and good night to you, too, tom. >> tom: good night, susie. i'm tom hudson. good night, everybody. we hope to see all of you again tomorrow night. 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