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elementary say it is already too crowded in the classroom. concern. >>pam: in oakland, no teachers are expected to receive pink slips at this time. it planned to avoid layoffs of teachers because it is cutting jobs in other areas. >> we have had significant staff reductions. we have cut the size of the work will force by 20-25 percent of the past several years. adult education program focusing on k-12. that has given us extra money as well as a general tightening of the belt. >> in addition to staff layoffs, the district plans to close five elementary schools next year. the gover...

they are preparing for the worse. >> i am terrified. i cannot move out, i cannot support a family. what do you do? amounts? make more money back to this is because i love it. now, what am i qualified to do? i have a master's, i am bilingual. i have ever for the ed tatami. i have taught pre kate- eighth grade and i still cannot find a job. to leave this state or is it just california? to leave my family and friends? and >>james: the school district laid off 17 teachers this week. and in on the outcome of the current state budget battle, some of those teachers the possibly be retired. ...

and now the dow is down 21 points at 12,669. the nasdaq is up four points right now. technology among the leaders today. we're up to 2906 on the composite index and s&p still below the critical 1340 level. >> we have a couple of stocks and story stuff on our radar this afternoon. among them, jpmorgan chase. the stock rebounding a bit today after ceo jamie dimon survived a shareholder push to strip him of his chairman title. he apologized for the recent $2 million loss but now the government is opening up an investigation. jcpenney shares getting hit ahead of the company's earnings....

craig, i want to congratulate you. this is incredible. you must be waiting for next friday. as a retail investor i wouldn't approach the stock on friday or the next monday, tuesday, or wednesday. i wouldn't go near it. would not go near it. >> so you think 50 bucks, somebody gets it for? a 50% premium? >> 50, 60, you're talking about $6 billion in flow. i wouldn't be surprised if that trades three times in the day. >> ned says maybe around 60. do you buy it on the first day? ned says no. ned, what do you think that does in a year? take a guess. where do you think it goes? >> i think ...

facebook when it opens? >> you know, you said $90 a share, i said a 50% premium. this is one of those situations depends how much stock -- by the way, craig, i want to congratulate you. this is incredible. you must be waiting for next friday. as a retail investor i wouldn't approach the stock on friday or the next monday, tuesday, or wednesday. i wouldn't go near it. would not go near it. >> you think $50 bucks somebody gets it, 50% premium? >> 50, $60, $6 billion in flow. that's what's it's going to trade. i wouldn't be surprised trades three times in the day. >> ned sis 60, do you ...