but still less than a whole cake. >> makes you feel good, you don't have -- and these that we got, the packaging is just as pretty as the cupcake. i say it's analogous to the lipstick because women buy something small as a little luxury. same idea. >> before we go, papa john has spent years trying to find his 1971 gold and black striped camaro z 28 that he sold back in 1983 for what did he sell it forring lirks $2800 to keep his father's tavern in business. he never gave up hope reuniting with the camaro. turned his search into what else a marketing campaign and he gave the guy who owned the car now $250,000 and the guy who helped

him find it, he gave him $25,000. his beautiful z 28 is back in house again. >> in great shape still. >> a guy never forgets his first love and his z 28. >> i guess not. >> have a great, great time on vacation. we'll miss you. that's it for "power lunch." federal officials say a maintenance company is responsible for using unapproved parts on some booing 737 jets. the parts will have to be replaced but are not a safety threat. u.s. say ways is raising its fees for a passenger's first checked back to $25. and huntington says it will continue to cut costs an raise prices, the strategy that let to better than expected profits. that's cnbc.com news now.

welcome it street signs. there are two hours left in the trading day and stocks hovering around the flat line. here is what the street is talking about. will we finally get a september to remember for all the right reasons? history tells us it's a brutal month for markets. could the downturn help us buck the trend? plus, drugs and deals. walgreen's and cal ter pillar creating a new solution to rising health care costs. is good old fashioned capitalism the answer to the health care crisis? and cash for cribs. how one retailer's new toy trade-in program could be more than child's play for the economy. all that plus stock trading with jim cramer. first cold man sax in the line of fire for tipping off bigger clients earlier than anyone else. the secretary wants to get to the bottom of it, he has subpoenaed the firm demanding the inside trading huddle and he

joins us in an exclusive interview. thank you for joining us. first of all, what is it exactly that you think that they did that could be approaching something illegal here? >> we don't know what they did. what is reported is that they provided in the so called huddles information that was passioned on to their preferred clients. just six years ago the largest firms degreed to pay 1 hpt $3 billion to settle allegations of bad or faulty research analysis designed to market certain issues. it seems as if some of these bad habits have not been eradicated. goldman sachs was one of those firms. whenever you have a situation where certain customers are given preferred status over other investor that is a problem. investors should not be treated differently. we're very concerned about this preferential treatment and that the information given out was consistent with the general

recommendations of the firm. >> a security law professor at georgetown said they're sharing their own prichtd assessment of short term movements with clients, it's not based on ens information or some particular plan that gld man has. it's a pretty normal practice. what's your reaction to that? >> first of all, i think we have to recognize this is in the context of the research analysis agreement that was reached in 2003. and certainly the language that surrounds these so-called meetings suggests that there's some kind of special insider status being given. customers should not be treated differently on the basis of how much they're spending or how significant they are. it's very important that analysis that's presented to the general public, especially from such a reputable house as gld man be honest and accurate and we have a concern about that. we all hope right now that the mar sket about to move up and as it does and as investors start to think about coming back in,

they have the right to expect that they're going to get good information that is not going to be tainted by efforts of sales practices, it's not going to be driven by company profits. and there aren't going to be two sets of rule, one for the insiders and one for everybody else. >> but if it's true that what's happening is here, that analysts write long term reports and then in the short term they get together and they say here's what i think the stock will do over on the next day, this they have these huddles, is that something shouldn't be done? it's not like they've gone against what they've told everyone else. >> that's like saying it's a little lie. the reality is we don't know. you're speculating and at this point i'm speculating what we do know is that there were these events, there is a record of it and that's precisely why my office has subpoenaed because we want to establish exactly what happened. our concern is genuine and it's based upon our past experience. as i said, my state was one of

the leaders in 2003 in pursuing this, we know how serious the problem it was then. we definitely do not want to get lax about the way information is provided. if it turns out the records indicate there was nothing wrong, then of course we'll reveal that. but i think it's important that as regulators we review this, we make sure that the trust is there in the marketplace. we've been through so much -- >> i apologize, but are you only going after goldman or are there others? >> there may be others. at this point goldman has come to our attention and, again, the agreement was with ten major firms. we want to make sure these practices that we thought we had eradicated in 2003 remain eradicated. >> goldman is everybody's whipping boy. are you at all afraid that you're jumping on the band wagon there? >> we've asked them to provide us with information. our experience in this goes back six years. i think we have strong credentials in this area. we're interested this protecting investors. we want to make sure they're getting honest, accurate

information. but we only can do that if we look at the information. and that's what we're asking for. they will certainly have the opportunity to tell us exactly what they did and explain how it happened. >> okay, secretary, i hope you keep us posted on what you're doing because we're certainly very interested in the story. thank you so much for joining us. the markets may be flat, but a number of companies are hitting new highs. western digital, expedia, bed bath & beyond among the 52 week winners so far. here to run us through the rest of the names, bob and rick and scott. let's kick it off with bob. >> what the heck is going on? why rchbt we getting a rally when we have all this great economic news? look what's doing better today. all the names that have lagged the summer rally. telecom stocks? these are your defensive names. how about consumer staples? procter & gamble and coca-cola and all those kinds of things. they're all doing better than the rest of the market. what's lagging? everything that youth performs. your big industrial name, your

commodity names, your high beta financial names. they've had a great run. they're pulling back. those high beta financials, yeah, you know, fannie and freddie, i'm so tired of those names. a billion shares in citigroup for the last five days. i don't think it will today. definitely running out of steam here. does this make any sense? hey, rick, there are a lot of people who feel that as the market has advanced now, a logical trade if you're staying in stocks or getting out of bonds is take money out of those high beta names, those financials and home builders, and put them into the names that have lagged if the overall market will go up, those lags names recently should outperform. make any sense to you at all? >> it makes sense. floor traders like to keep it simple. we've underestimated the breadth of the rally maybe because the fundamentals really don't align just perfectly, so i agree with you, possible. it certainly seems as though this is a freight train and it isn't slowing down that much.

it's summer and the market is climbing, but we still have a solid handle. we're close to 9600. i agree with you, let's look at interest rates. five year auction. 39 billion, it was a b plus auction. look at the charts. yeah, it looks like yields have gone up a bit, but think about automatic computer scaling. we're only up a couple of basis points. the treasure market is not in that range, but it's moving the big supply. tomorrow is the seven year. maybe the win dear is the dollar index. you can see it's holding up, but you when did it have its move? early. maybe it coordinated with data, maybe it was something out of europe, but it's been flat lined. flat line up close to a half a percent. any excitement at nasdaq today? >> we're seeing much the same thing that bob is, those leadership names giving something back because that's definitely what technology is doing right now. nasdaq virtually flat and it's been in a race throughout the day, but big cap technology stocks have been under modest pressure throughout the afternoon with apple, rim,

yahoo! all negative. bed bath & beyond, new 52 week high today. expedia is a fractional move to the upside, but also hit a new 52 week high. buffalo wild wings got an upgrade today. costco moving higher, as well. myriad got upgraded today. and then human genome, a lot of takeover speculation. the options activity is also fairly high and that has the stock ahead by about 8% or so. and i'll toss it back to you, but let me note that the nasdaq 100 since the march lows is up something like 57%. the last time we saw a move of that magnitude over a six month period was way back in april of 2000. remember what happened this april 6 of 2000? that's when the tech bubble burst. back to you. new home sales rising for the fourth month in a row, but can an upturn be sustained?

diana joins us now. two really important data points. we saw case shiller, new home sales, they speak to the two different things that you watch in a housing market. price and supply. what are they each telling you? >> reporter: they're telling us that it looks positive right now. the numbers themselves are very bullish. unfortunately, it seems that all the experts i'm talking to are very bearish and the reason is can this sustain into the fall. they're concerned about that first time home buyer tax credit expiring on november 30th. this market has been very juiced by that tax credit. 1/3 of all existing home sales in july were first time home buyers. we don't have numbers on new krugs, but i would bet it's even higher because they really draw in the first time home buyers. so if that tax credit isn't extended, you're taking away $8,000 of purchasing power. also about la about mortgage rates? we've seen the government come in and really keep mortgage rates low, but where are they going this fall?

they've been inching up ever so slightly and we hear that perhaps they'll be drawing back on buying some of these securities. what is that going to mean for mortgage rates and again how is that going to impact the sustainability of what looks like a turn around? >> you answered one of my major questions. but a lot of people think that you see a dip in the fall seasonally that's when people stop buying homes because they've rushed out there in the summer and fall everybody is going back to school, but then it will pick back up in january. or spring, i should say. >> when you're looking at the absolute number, perhaps that's true, but remember that the naums we report are seasonally adjusted so they're already taking into account the fact that these are buyers from the spring and the summer which are generally the higher pace time of year as opposed to the fall. so i don't think you'll see it in the newspapers if they're saen ally adjusted. that said, what's going it happen when we start to see everyone higher un34r0i7employmd more foreclosures?

we know that banks are holding on to foreclosed properties. there are people sitting in homes that are far more than 90 days delinquent on their loans and they're not getting the foreclosure notice because the banks don't want to get to that point. >> depressing on the back of good news. diana olick, thanks for joining us. will the summer rally last into september? over the last 50 years, there's only been 17 times when the dow has been up year to date. up from june to august. and up in august and in those 17 time, the dow has averaged a decline of 1.73% and has only been positive three out of 17 months. can september 2009 buck the trend? that's a lot to live up to. joining us is the he had the it tore of stock trader's almanac and managing director at stifel

nicolas. is there going to be a september to remember? >> i think it's setting up more for a typical september. all the big rallies have come after a decline like the bear market bottom in '98 and august 31st. you gaet a rally after-we've ha a great summer. i could see us settling back a little bit. >> absolutely nothing about this year has been typical. why would september be typical? >> well, i think the only reason why it would be typical is just because in september is when we start getting the third quarter profit warnings coming out en masse. which will raise a lot of fears about any kind of recovery or visibility going into 2010. and on that visibility, wall street hates uncertainty. what happens the first week of september? congress comes back into session. so we'll be dealing with health care legislation back in the front page, we'll be dealing with energy legislation back in the front page. and given the struggles that the

small sbis going through and that's where the economic and employment growth is coming from, if any of those things start getting tractions, those issues start getting tractions, we could start dealing with a lot higher unemployment rate than people are anticipating because businesses will have to offset those tax increases somehow and that will make the market pretty nervous. >> you say the third friday in september will be the day to watch? >> the week after has been enworse. the third friday steflt hitselfn better, but the week after is bad. it happens to come at an infliction point where you're setting up for the end of third quarter. and you also have that heavy volume in action from triple witching. >> so david what will do you to set up for that? >> a couple things that we're talking to clients about and first of all is buy food stocks. this group historically outperforms the s&p by over 300 basis points from september to year end. especially in years when it's underperformed coming into september and the food stocks

have underperformed the s&p's move since the beginning of the year pretty drastically. one name that we would look at is general mills which we rate a buy. gis has outperformed the market 07% of the time in september for a medium return of about 2%. given the returns historically in september, we think that's a win. the other area we're talking to people about is also the federal government i.t. sector. their fiscal year ends on september 309, so there will be a lot of contract award activity going on 37 the group is usually a defensive play anyway. we think you should i buying sai. >> what's yous best trade in light of all this? >> i think we're waiting for all the october seasonalities to kick in. i think we'll be patient. >> thanks so much for joining us and we appreciate it. up next, the battle for health care reform loses one of its biggest champions, senator

ted kennedy. so what will happen next? can the democrats continue to fight without him? we'll get an update from the hill and from the health care front lines with governor howard dean. plus, the clunkers have been counted, the dealers are counting their money, but will the big win winners leave detroit feeling like the losers? but first, take a look at how some of the most widely held stocks are fairing. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. the same tools the pros use,

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part of ted kennedy's legacy will be his fight for health care reform. john harwood is in washington with more. >> reporter: you're right, health care is a huge part of ted kennedy's legacy. he called it the cause of his life and also tops on barack obama's agenda, but we can't for get that ted kennedy's impact over 50 years in the senate ranged across the issues. a fact that the first african-american president had a special reason to point out today on martha's vineyard. take a listen. >> the outpouring of love, gratitude and fond memories to which we've all born witness is a testament to the way a singular figure in american history touched so many lives. his ideas and ideals are stamped on scores of laws and reflected in millions of lives.

and seniors who know dignity, in family who though new opportunity, and in all who can pursue their dream in an america that is more equal and more just, including myself. >> reporter: of course the ideas and the ideals on health care that ted kennedy championed in his life i believe will get somewhat of a boost from his death and the emotional resonance of that issue as america watches ted kennedy go away. i do think some of the assessments of health care as being in trouble have been exaggerated. democratic leaders tell me that hour flilicily problematic some of these votes will be, they know the consequences of failure would be much worse, which is why i think ted kennedy may see his legacy fulfilled in this calendar year. >> john, thank you so much for that report. for more on the impact, we're joined by howard dean, former governor of vermont and author

of "prescription for real health care reform." thank you so much for joining us, governor dean. what do you think, has it been overblown how much of an impact not having ted kennedy around will have on the health care debate? >> first of all, let me say that we miss senator kennedy terribly. he's an extraordinary figure in the history of the united states senate and the history of the country. i think john is exactly right this in some ways will steal democrats to get this done partly for ted kennedy, partly for themselves. they know they can't fail. i also have to say that chris dodd has done a terrific job getting the bill out so far. his bill is very even happeneded, it's very thoughtful, agree for small businesses. people with employers less than 25 employees don't have to worry about health insurance anymore if this thing passes. so mechanically i think that we're in good shape. but kind of emotionally, it's a tough feel for democrat, but i

do think they'll rally and they'll push harder to get this done. >> it does give everyone sort of a torch to carry and say this is -- we should do it for him, but at the same time, so much has been made of the fact that he was a real behind the scenes deal maker. so many deals with people over time, you know that he was a real consensus builder across the aisle. is that not the case? >> that is the case. and certainly we've missed him over the past few months about. a lot speculate if ted kennedy had been able to serve over the last few months, that we might have a more bipartisan approach. but i think at the end of the day, we'll have a a. strong bill, that there are senators that have been working very hard to get this done and i think that senator kennedy's life is going to be an inspiration and cause people to redouble their efforts. >> no matter how you feel about health care, it seems public opinion has gotten a little more negative than it has before. do you think would you have done something differently to turn

that around? >> i actually saw a poll today where when you explain it, about 75% of the american people favor the public option. they favor having a choice between the public and the private option. that's not any different than it was in june. so i'm not so sure, i think there's been a lot of strive. i went to a town meeting last night which is really exciting in northern virginia, but i couldn't of enjoyed it because nobody was really rude except the guy that got kicked out that wasn't from the district anyway. >> but you had the caveat that when it's not plain explained, less people are in favor. is there a way to explain it better some. >> do i. the president started a few weeks ago gg out to his town meetings. in clear language explaining piece by piece and it will take take. i said last night, change is really tough and the only time you change is when the pain of staying the same finally exceeds the fear of change. and there's always fear of change.

that's part of human nature. and evening we're there with health care. too many jobs lost, too many insurance lost, too many lives lost and evening we're there. and now we've got to make good on that and i think we will. and i do think despite we'll miss ted kennedy terribly, we do have people who will be inspired by him and get done. >> governor dean, thanks so much for joining us. we do appreciate it. >> thank you. just ahead here on "street signs," ashton kircher tweeting about cnbc. and whole foods may be up more than 200%, but is that the whole story in up next an interview with one company who sells to whole foods, why they say the organic way not really working right now. and then later, it worked for cars. why not car seats. one retailer borrowing the government's plan to rev up sales. you are watching "street signs." . ( chirp ) team three, boathouse? ( chirp ) oh yeah-- his and hers.

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than a second with nextel direct connect. only on the now network. ♪ yes, you're lovely... ♪ what do you think? hey, why don't we use our points

from chase sapphire and take a break? we can't. sure, we can. the points don't expire... ♪ there is nothing for me... ♪ there's no travel restrictions... we could leave tomorrow. we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. whole foods bucking the trend. they're up more than 200% so far this year at a time when overall food sales dropped 3% earlier this month. the company reported a 2% boost in third quarter sales.

the retail ser opening a brand flew store right here in new york city tomorrow, but it has been cutting expenses across the board and working on rebranding campaign to seem more affordable. that imflies they're not really cutting prices, but either way. one supplier is feeling the effects of the consumer shift back to basics. the company down 12% this year reported fourth quarter earnings after the bell yesterday and joining us is ceo of the organic food maker. thank you so much for joining us today. i notice that your company had missed profit estimates for the first 3/4 of the year at a time when you heard what we said about whole foods. >> the first half of the year, our overall sales were up 12% and we wering substantially. and after thanksgiving, the

category started to slow. but our big effect came through europe and throughout our protein business. domestic u.s. business continues to grow nicely which is 80% of the company's sales. and not only organic. earth's best baby food is a brand and those that have babies look to feed their children organic foods. that brand was up over 34% this year. or rice milk, that category was up 8%. our gluten-free products continue to grow. our corob chip business, sales were down. so we've had some effect, but we've had a lot of categories growing in high single digit numbers. >> i applaud your markets right there on our air. is organic more popular here in the u.s. than outside the u.s.? that was kind of one of the take arms i gwa

arwa aways. >> organic is not as important as it is here. so our sales this europe absolutely have suffered. but from our standpoint, we're a natural healthy food and personal care company and absolutely we saw some fall off in other personal side of the business where people went back to basic shoom pews and soap. but in long term, eating healthy is not a fad. it's not a trend. it's an ultimately important way of our life. and i heard this morning in regards to swine flu, what is going to be one of the big preventions in swine flu that we're healthy, we keep clean. >> but it seems like everybody has jumped on the organ he can band wagon. i see everyone the mainstream brands now are claiming saying their products are organic. do you worry about that? >> i do, but we wake up every

morning and all we do is natural and organic foods. we're the largest in the u.s. and look what i have to compete with in the bigger companies in craft and. >> caller: logs and general mills. but at the end of the day, we've never put trans fats in our products. would he have never had high dronlg natured oils. we go back, all our products and packaging is recyclable, biodegradable. so when we make our products, there's a lot that goes in to it. >> and real quick, the ceo of whole foods had an op-ed that angered a lot of different people. did that make you mad that the ceo of a company where you're trying to sell your product is out there angering consumers for something that's not really related to his business? >> absolutely not. first of all, we're individuals and i think i know john quite well and john is an outspoken person and i think he went out there and said what's on his mind. and whole foods, you eat healthy

that's where it starts in preventing disease. and i think john went out there and said, hey, we all have some onus upon ourselves to be healthy. >> fair enough, thank you so much for joining us. >> thank you. up next on "street signs," get ready to stop trading. jim cramer is up next and he's ready to go shopping. plus, the news is ready to make news. with newspapers die, magazines folding, networks desperate for ads, not this one, of course, is it time for a media bailout in get forward a good old street fight.

jim kram ser here. jim, we tail on fire. >> what's really interesting is you have this incredible all at once retail thing going on. you have target up, but you also have dollar tree -- >> and it's not logical. >> what eem thinking is this is going to be like housing. to one thought it was bottoming when it was bottoming. no one is take retail is getting better, whether it be macy's or

rafflph lauren, tiffany, fell m if you really need anything that william sonoma sells. >> you just want it because it's fabulous. it doesn't vareally have to do with need. >> it's candy. that can't be going up if people are in a recession. >> tiffany, another one like that. >> so i continue to think that back to school or this period is much stronger. just like it turned out that april, may and june led to a big turn in housing, i'm telling you, if we get a big turn in retail, you can't have these keend of strong stocks. dollar tree is going up, too, but family tree, ralph lauren, tiffa tiffany, this is too braoad.

sales are turning. >> and everybody expects nothing from the back to school trend. people will be going to school naked. >> the there are local newspapers believe that no one will go back to school. they're all truant. so i think it's important to recognize the same. housing, retail, these are both better than expected. >> you have a trade on coin star which i love. >> i did a piece last week about whether this thing was a bull or a bear and coin star's red box, i compared it to netflix. the problem with coin star, and why i liked it, some of the movie companies don't like it, but paramount just made a big deal with them. i think it's the template for warner to fall in on to place. i think that this is basically a bargain, these court suits could be bargaining chips. the parent company of us and owned by ge is also involved in

this back and forth. and i don't know whether -- i don't have any context, but this coin star, if they get all the movie companies to go along, it's a big deal. this will replace blockbuster. >> interesting. we were teasing the story toys "r" us, clunkers for cribs. trade it in, you can get something new. >> game stop's been doing clunkers for games for years. i mean, this whole idea -- it's a great idea to be able to do that yourself, but one of the things that was really interested about cash for clunkers, it was the government. they vun limited fire power. these companies don't have unlimited fire power. in the end, i think these are companies that are literally trading off of this -- >> but all they're doing, toys "r" us does that all the time, they're using -- it's clever,

they're convincing to you trade up. >> and i think it's capital liding on the fact and this is also another great story, this program was incredibly successful and everybody knows except for the grousers who said, wow, $3 billion. who would ever have dream that had could be happening with autos? >> did you trade in a clunker? >> i had a 2006 car. sometimes i think i should get a new one, but i kind of like it. >> jim cramer, thanks so much. for more, he's on at 6:00 and 11:00 p.m. eastern time. today caterpillar announcing an agreement with walgreen's to provide its employees with prescription medications at minimal cost. joining us to explain the agreement and its implications is the president of walgreen's health and fitness. explain this deal to us a little bit because i know caterpillar had to deal with walmart before this. somehow this different? >> it's not all that different. however, the first direct to

employer agreement for walgreen's. we had 7,000 stores that are available to all the folks at caterpill caterpillar. we're within five miles of 70% about of where all americans work and live and we're taking an approach of employer health care, which is to combine our work sites that are on cam puts of corporations and the retail clinics bringing them in a trance parent way for the first time to corporate america. >> how does it take the insurance companies out of the mix? >> it doesn't take insurance companies out of the mix. these are for self-funded corporations for the most part. so there really are not insurance companies in the mix to begin with. >> this is just a way to get the drugs directly from you about subpoena there a big cost saving? >> there's a tremendous cost savings because there are middle men that are involved, primarily pharmacy benefit management

companies where a lot of the revenue flow from the manufacturers through them and by doing this, walgreen's is able to provide cost effective pricing where everyone knows what the price is at a corporation when they buy them in bulk for our company. >> are you talking to other companies besides caterpillar about doing this? >> yeah, quite a few. we rite now service over 130 corporations providing health and wellness services to them and many of them are very interested in it because they see the cost savings and the removal of a lot of the hidden costs of health care, which is something that at walgreen's, we're very proud of our approach of doing good while doing good business. >> an interesting health care solution. thanks for joining us. coming up, a follow-up on the demi/ashton ratio. now it's one our top stories on cnbc.com and we have twitter and the man himself to thank for this, the explan naks just hints

away. advertisers are dropping like flies and it has media companies fighting to survive. but will a revolutionary ad platform jump out and grab readers and britt ng the ad dols back? you're watching cnbc first in business worldwide.

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to make a big splash, cbs is investing in new high-tech ads to jazz up an old advertising format, magazines. julia? >> reporter: magazine ads are now as cutting edge as it gets. cbs and pepsi are teaming up to put the first ever video in

print ads in select fall tv preview issues. the two inch screens play 40 minutes of clips. the players are from a company called a mary chip and they cost at least $10 each plus more for binding inserting in to magazines and ad space. it won't reveal how many subscribers will receive players, but they estimate that sending 5% of subscribers inserts would cost at least $2 million while a regular page ad at ew runs about $150,000. >> obviously technology such as video and print is new and different. it's certainly more expensive than a normal two dimensional print ad, but i think the return is really going to be a lot greater. >> reporter: the invest smt a rare way to break through ad clutter and ensure that entertainment insiders sample cbs shows. it minimizes costs while testing

their potential. >> we're hitting new york and los angeles, but we think we're hitting the key people that would actually get really engaged with this and that will talk about it. so we limited the numbers to a level where we feel like it will connect to the right consumers, but not be cost prohibitive. >> reporter: it should boost entertainment weekly's whose ad pages dropped by a third in the first half of this year. if this generates huge buzz, it could be a really good thing for the struggling magazine business. >> interesting, yeah. julia, thanks so much for joining us. it's not lost in the newspaper industry -- all is not lost. ad revenues are down in dozens of newspapers have closed this year. so we're asking the question do we need a media bail jut? here now michael wolf, and a

blogger. thanks so much for joining us. i want to start with you because i think that you think that maybe there is room for a bailout for the media here and i can't wait if you to make your case. >> sure. i mean, i don't tend to call it a bail jut and i don't know what form it would take, but i think what you're seeing is no one has ever been good at selling news. they sold advertising monopol s monopolies, all matter of things, but not news. and as those other alternatives break down, you'll have to begin to sell things near and dear to the newsroom. so in the long run, if we want to have a function in the media, we may have to consider something like an n icht h style institution that gives out grants or things they have in europe which is sort of automatic appropriations. >> michael, if they can't afford to stay in business, why should they? >> pish posh to a bailout. what would your seeing is a

technological transformation. so the last thing this we want the government to on do is to be protecting old and obsolete technology. so without any question, there is no room for a bailout, no call for a bailout. and the only people who want bailouts are people in newsrooms who are going it lose their jobs in the next ten minutes. >> the only argument that i could come up with is you look at npr, you know there are some models, you look for the corporation for public broadcasting, of course, there are some models to fund or help fund news organizations. is that something we should do more of? >> possibly. i'm not advocating -- i'm an online guy, i'm pretty safe -- >> that's what you think. >> well, for now, right? all are safe for now. and i think that we're just eventually going to have to figure this out. there are a lot of goods that we want provided that the market doesn't did a good job of providing. road, police departments, and have decided we're going to get together and make sure we have provision of them. we may have to do the same thing

or maybe something will emerge and we won't. but it doesn't -- >> this is the kind of thing obviously that people say who are in danger of losing their jobs. and we are looking at a situation in which it's quite possible that every big city daily will be in bankruptcy in the next 12 to 18 months. so people have the jitters. and it's quite reasonable that at shall point down the road there will be public/private kind of news consortiums. but that's all the far cry from the government saying let's bail out the newspaper industry, which is probably not even constitutional anyway. >> i pretty much agree with michael in that i don't think you're looking for a large cashr a large cash infusion. what i tend to think is you may down the road have a model where this is a supported industry in some way or another. it's true for a lot of industries and it wouldn't be the first. >> but instead of this, and this is the talk in newsrooms across the country, the talk should be

how do we make money hour, do we serve our customers better -- >> they've been saying that for a long time. they're not doing it. >> my position is i think very unpopular at my own newspaper. the talk here is pretty adrefsly on how do you make money. my position coming from the outside of it. i was hired by the "post" a couple months ago and i'm a blog guy fundamentally, is i don't see any way you're going to make a sensible market out of it. so i think at some point if you think this stuff is important -- >> certainly if you go into that saying there's no way to make a sensible market you probably won't. but since there has been a market for hundreds of years, i think you could do a little better. >> yeah, but we didn't have computers then. >> yep. >> okay, guys, we've got to leave it there. thanks to both of you. we appreciate it. up next, consumers flooded dealerships across america, but did they drive in a win for america's automakers? phil lebeau reveals the winners in the cash for clunkers program. you're watching "street signs" right here on cnbc. we'll be right back. some people buy a car based on the deal they get. others by the car of their dreams. during the lexus golden opportunity sales event, you can do both.

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the oil close. we hit 74.96 yesterday, and it's been a steady slide ever since. basically, about 4% in two days. and there are bearish signs pretty much all over the place. tropical storm danny, it's tracking in a direction away from any trouble spots when it comes to what affects oil and gas. also there was an inventory build. of course that a little bit bearish. stronger dollar. and equities until recently were relatively weak. want to just basically talk in general about those inventory numbers. they were a build but not as much as the api had indicated.

most consensus people, melissa, were for a drawdown. the markets with a little confused on a net basis. some traders say we're still going to trend upwards but right now that resistance at 75 is significant. >> thanks so much, brian. here to give us an update on stayed's market chatters is alan valdes, vice president for hilliard lyons. thanks so much for joining us. what's everybody talking about here as we get closer to the close? >> basically, it's been a very quiet day, melissa. volume's a little over 600 million shares. oil like you just heard has been trending down. even though we love this rally week, six days into a good rally here, traders still concerned at how far can we go with this rally. that's the problem right now. i mean, you can't deny this rally's been so strong, since march, yet i've never seen such a worried bunch upstairs. >> we're only up eight points right now. we'll see if we close positive. alan, thanks so much for joining next, we'll reveal the big winner in the cash for clunkers program. [ engine powers down ]

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a final tally on the cash for clunkers program is in. ending just under $3 billion allocated for the program. cnbc's auto reporter phil lebeau has the winners and the losers. phil? >> all automakers are winners, melissa because they've ramped up production because of strong sales from clunkers, but when you look at the top five selling models, the ones that were sold most frequently, only one american-made 3408d in the top five. that's the ford focus. there you see the others, corolla being at the top of the list. and that's not surprising that with corolla at the top of the list and a couple others in the top ten, toyota leads all manufacturers, essentially selling one out of every five new vehicles that were sold through cash for clunkers. by the way, cnw marketing research did something pretty interesting, surveyed 1,000 clunker buyers and found that 17% of those buyers expressed a bit of remorse because they are going to be taking on a monthly auto payment of 275 to 350 a month. so that's higher, almost double what