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tv   CBS Morning News  CBS  May 18, 2012 4:30am-5:00am EDT

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new evidence. 200 pages of documents and it's still unclear what really happened the night george zimmerman shot trayvon martin. friending facebook. the social media giant could become bigger than disney as its stock goes public this morning. and disco legend. five-time grammy award winner donna summer has died. ♪ ♪ lovely lovely lady this is the "cbs morning news" for friday, may 18, 2012. good morning and thank you for joining us. i'm manuel gallegus. it's still unclear exactly what happened the night george
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zimmerman shot and killed florida teenager trayvon martin, but a mass of evidence just made public sheds new light on the case. susan mcginnis is in washington with details. good morning, susan. >> reporter: good morning, manuel. there are 200 pages of documents, also photographs, audio recordings and some video. some of the evidence does confirm george zimmerman's story, but crucial evidence ended up proving inconclusive. it's february 26th and trayvon martin has about 20 minutes to live. this convenient store surveillance video shows martin buying candy and iced tea just before his fatal confrontation with george zimmerman. >> there's a black guy down. it looks like he's shot and dead. >> reporter: investigators found no evidence martin was involved in any criminal activity as he walked to the home of his father's fiancee. crime scene photos show a bullet casing in the grass and one of zimmerman's gun and holster. no one saw the deadly shot but
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one unidentified witness said he saw martin beating zimmerman. >> the one guy on top in the blook hoodie was throwing down blows on the guy kind of mma style. >> like a ground and pound? >> yeah, ground and pound. on the concrete at this point. >> reporter: these are photos of zimmerman taken minutes after the shooting. it appears he has a broken nose and there are bloody cuts on the back of his head. zimmerman maintains he was being assaulted when he fired his gun. martin's autopsy found he was shot in the chest. the wound surrounded by gunpowder burns called stippling and that the two men were no more than 18 inches apart when the gun was fired. a sanford police report said the confrontation was ultimately avoidable by zimmerman if he had waited in his vehicle and awaited the arrival of law enforcement. small traces of marijuana were found in martin's system but not enough apparently to impact his behavior. what we don't know is how this
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confrontation began, if it was racially motivated. george zimmerman is free on bail, awaiting trial on second-degree murder charges. >> susan mcginnis in washington. investors will be friending facebook for one of the most anticipated ipos in years. the social media giant is valued at $104 billion. that's more than, walt disney and mcdonald's. ennis is in times square with more. good morning. >> reporter: good morning. right behind me is where all the action will be this morning. and at $38 per share, facebook's market debut is expected to be the biggest tech ipo in history. facebook programmers worked through the night at the annual hack-a-thon. it's all in preparation for the company's first public stock offering. many of these employees are about to become millionaires. ceo mark zuckerberg will have a
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net worth of nearly $20 billion. not bad considering he started facebook in his harvard dorm room nine years ago. but with that much cash comes new pressures. >> the bigger you get the harder it is to go fast. >> reporter: facebook makes 80% of its money from advertising. that comes to about $4.34 for each of its almost 1 billion users. a new valuation of $100 billion means the company needs to increase revenue to several hundred dollars per user to prove its worth. >> they're under enormous pressure to show how to make money from mobile. they're under enormous pressure to show how to make advertisement money. >> reporter: they'll be traded on the nasdaq under ticker symbol fb but the valuation is 100 times higher than historic earnings. compare that to apple's 14 times price to earning ratio, and it
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becomes clear that buying fb will be a good investment. >> the key thing for investors is whether or not facebook can grow beyond now. that's the key for a company starting out with such a big valuation. >> reporter: but the company does have plans for the future. >> facebook's long-term goal is to try and be the gateway to the internet. >> reporter: and now the company will have the cash to help it achieve its goals. and mark zuckerberg is expected to ring the opening bell remotely from facebook's headquarters in california. even though the markets open at 9:30 a.m. eastern time, facebook shares aren't expected to start trading until 11 a.m. >> we'll know it all soon enough. thank you. on the "cbs moneywatch," hewlett-packard is poised to slash thousands of jobs and a postal service overhaul. ashley morrison is here with that and more. good morning, ashley. >> good morning to you. overseas markets tumbled on disappointing u.s. economic reports. tokyo's nikkei sank 3% for a seventh straight week of losses, while hong kong's hang seng lost 1.5%. wall street looks to rebound
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today after another down day thursday. the dow sank 156 points while the nasdaq was off 60. facebook co-founder eduardo saverin says he intends to pay taxes on the money he makes off today's ipo. he moved to singapore three years ago and in september renounced his u.s. citizenship. several u.s. lawmakers are outraged, charging he's trying to avoid paying millions in taxes and want to prevent him from re-entering the country. he says, quote, he'll pay millions to the u.s. government. it's reported that hewlett-packard, the world's largest maker of pcs and printers is ready to cut tens of thousands of jobs. "the wall street journal" says the computer giant could eliminate as many as 30,000 positions. the personal demand for computers has shrunk as more people connect to the internet on their smartphones. mortgage rates in the country fell to record lows for a third straight week.
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the rate on a 30-year loan dipped to 3.79% while the 15-year fell to 3.04%. but the low rates haven't helped the housing market because lenders have made it tougher to qualify for a loan. and the postal service says it's moving forward with plans to shut nearly 250 mail processing centers. the postal service says it will consolidate 48 processing centers this summer but will stretch out the remainder through 2014. congress continues to debate legislation to overhaul the agency. and the postal service just continues to struggle, manny. >> ashley morrison here in new york. thanks. the g-8 summit begins today at camp david. italian premier arrived this morning. president obama is hosting the summit. the largest economies will discuss ways to stop europe's spiraling economy. now to politics. mitt romney denounced a plan by
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a super pac to highlight president obama's ties to his controversial former pastor. it since abandoned the $10 million ad campaign. romney said he wants his allies to talk about jobs and the economy. >> i repudiate that effort. i think it's the wrong course for a pac or a campaign. i hope that our campaigns can respectively be about the future and issues and about a vision for america. >> the white house says romney did not go far enough condemning the campaign ad. donna summer, the queen of disco, has died. president obama said yesterday her voice was unforgettable and the music industry lost a legend. summer had been battling cancer. she was 63 years old. theresa garcia takes a look back at summer's glittering career. ♪ on the radio whoa >> reporter: donna summer was a disco icon, a music superstar, who sang much of the soundtrack of the 1970s.
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summer's family released a statement saying that she died thursday morning and that they, quote, are at peace celebrating her extraordinary life and her continued legacy. >> i heard the voice of god. and god said to me, you're going to be famous. i began to tell everybody, god said i'm going to be famous. and they, of course, thought i was insane. that's okay. i had the last laugh. >> reporter: she was born in boston in 1948, sang in the church choir and formed several musical groups while growing up. summer dropped out of high school and struggled to launch her career in europe, working as a backup singer and stage performer. her breakout hit came in 1975 when the song "love to love you baby" became a disco anthem. she went on to win five grammyses for her iconic hits her music defined the dance music era of the '70s and influenced '80s acts like duran duran and madonna. she works hard for the money ♪
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♪ melting in the dark >> reporter: at the height of her career, summer struggled with anxiety and depression. in her memoir she confessed to attempting suicide following a nervous breakdown in 1979, she became a born-again christian. summer married her second husband, singer bruce sudano in 1980. they had two children and four grandchildren together. in 2009 summer performed at the noble peace prize concert in norway in honor of president obama. ♪ let's dance >> reporter: she was said to be working on a new album in the weeks before passing away. theresa garcia, cbs news. >> thank you. coming up on the morning news -- dire forecast. a warmer than normal summer is expected to bring a dangerous wildfire season to parts of the country. this is the "cbs morning news." now, there's gentle, dependable constipation relief for me...
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pelted the atlanta area with pea-sized hail thursday, piling up on suburban lawns like a mid-may snowstorm. it didn't last long. the high in atlanta today is expected to top 80 degrees. day to day, even hour to hour, the weather is constantly changing, but climate experts say much of the country is in for an especially hot and dry summer this year. already this spring, we've seen some dangerous wildfires as chip reid reports. >> reporter: in the southwestern united states, the wildfire season is already off to an early start. in northern arizona, near the historic mining town of count king, a fire blew out of control today due to hot, dry conditions and strong winds. now comes more bad news. those conditions are likely to continue. a new report by the federal government's climate prediction center says the southern two-thirds of the nation is likely to be warmer than normal during june, july and august, especially in the southwest. and that means the potential for the worst wildfire season in years.
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professor david robinson as a climatologist with rutgers university. >> when your afternoon thunderstorms start erupting across the mountainous west this summer, oftentimes they're not packed with a lot of moisture but they're packed with a lot of lightning. with that tinder dry underbrush and forest canopies, there's a real concern of wildfire across the west this summer. >> reporter: but it's not only the west that's going through a heat wave. in the mountains of north carolina this year, winter never even seemed to happen. and at a mini marathon in indianapolis earlier this month, runners collapsed with temperatures in the 80s and humidity near 100%. in fact, according to the climate prediction center, may 2011 through april 2012, was the warmest 12-month period in the u.s. since 1895, when the government first started keeping records. one question is, why is it expected to be warmer than usual this summer? well, the climate prediction
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center says there's no single factor. a multiplicity of factors. they say one reason is it's been a dry winter so the ground is dry, the sun has an easier time heating up the ground, and that heat radiates into the air. chip reid, cbs news, washington. straight ahead, your friday morning weather. in sports, the dark horse pacers shape up as the surprise of the nba playoffs staying cool against the heat.
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here's a look at today's forecast in some cities around the country. new york, sunny, 73. miami, thunderstorms. chicago, 77 and sunny. dallas, sunny. los angeles, partly cloudy. now for a check of today's national forecast. scattered showers and thundershowers are likely from the carolinas to florida and southern virginia. the rest of the southeast, the northeast and most of the midwest will be dry. strong winds, hot temperatures and low humidity keep the wildfire threat high from california to the rockies to the intermountain region. in sports, we begin with the nba playoffs. l.a. clippers at san antonio. the spurs' tim duncan showed off his inside move in the first quarter en route to 18 points. and tony parker celebrated his 30th birthday by scoring 22 in the 105-88 victory. the spurs lead the clippers 2-0 in the western conference semifinals. in indianapolis, lebron james drove for a slam near the
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end of the first half, but miami faltered without injured chris bosh. the pacers' roy hibbert got 19 points with a spin and layup in the fourth and indy won 94-75 taking a 2-1 lead in eastern semifinals. now to baseball. oakland at texas. the top of the seventh inning, the a's josh reddick hit a solo home run to tie the game 4-4 that led to extra innings. in the tenth, oakland sent up ka'aihue, who hit an rbi single that held up. final score, a's, 5, rangers, 4. in atlanta freddie freeman hit a home run to deep right field giving the braves a 2-0 lead over the marlins in the third inning. and brian beachy got stanton to ground out in the ninth for his complete game shutout as braves won it 7-0. when we return, another look at this morning's top stories. and closing arguments in the john edwards tile trial. there's a clear difference between claritin
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here's a look at today's forecast in some cities around the country. washington, d.c., sunny, 78. atlanta, partly cloudy, 81. st. louis, sunny. denver, sunny. seattle, partly cloudy, 61 degrees. here's another look at this morning's top stories. 200 pages of evidence on the shooting death of trayvon martin have been released. it includes surveillance video of martin buying candy before his fatal confrontation with george zimmerman. and facebook stock goes on sale to the public this morning. the social media giant is valued at $104 billion. robert kennedy jr. plans a wake tonight in bedford, new york, for his estranged wife mary who was found hanged wednesday in an apparent suicide. the death appears to are deepened the riff between mary's
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family named richardson and the kennedy clan. the richardsons are holding their own memorial here in manhattan although they'll attend the memorial tomorrow in bedford. jurors are expected to begin deliberating in the john edwards trial. during closing arguments yesterday, prosecutors said edwards broke campaign finance laws trying to cover up his affair with rielle hunter but edwards' lawyers say he committed sins but did not commit any crimes. if convicted, edwards could get up to 30 years in prison. if all goes well this weekend a company called spacex will make a giant leap for commercial space exploration. they plan to launch a capsule from cape canaveral and it will deliver supplies to the international space station. the first such flight for a private spacecraft. i'm manuel gallegus and this is the "cbs morning news." ( telephone rings )
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paralyzed veterans of america. paving access for veterans employment through operation: pave. 4 minutes before 5 o'clock. the week's end is starting nicely. marty is in the first warning weather center. >> beautiful. the sky is already brightening on the eastern horizon. it's incredibly bright on this may morning. 50 degrees on tv hill. a high of 77 this afternoon. don, take it away. a foryum at the university of maryland to create jobs in the medical field. >> a memorial service to honor maryland's fallen police and correctional officers. >> baltimore county school leaders address concerns about growing class sizes. >> the world's most powerful leaders are in maryland as the g8 summit getting underway. >> prosecutors reveal new
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details in the shooting death of trayvon martin. >> today facebook gets a lot of new friends. the imprakt of the -- the impact of the company's first public offering. >> your first warning,,,,,,,,,,
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it is 5 o'clock. this is beautiful outside. the sky is brightening. you just saw the moon leaving the frame there. sharon has your traffic


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