and do prisonerless themselves need federal stimulus. we found a report on call street 24-7 that when the checks went out, 3900 prisoners received their stimulus check. >> this is a perfect michelle story. >> the unintended consequences. what do you think. >> for the job market remains this bad, i would end up in prison. >> speaking of which on facebook and my space and friendster, people who haven't paid tacks in a while might be careful what they friend. for the tax evaders, if you are on the social networking sites, the irs is watching. a man in minnesota announced on his my space page he was returning to his hometown to work as a real estate broker and named the firm and the state collected several thousand dollars. the irs can't friend you under

false pretenses. they can only read your public pronouncements. >> it's clever they decided to do that.g >> only in this country. >> that does it for us. we will see you tomorrow. >> street signs with melissa francis begins in 30 seconds. see you tomorrow. california gets a loan from jpmorgan chase that it will use to pay i being ous. freddie mac said the average fixed rate mortgage is 5.1%, up two basis points. they had a 36 million dollar fine against the pitchman and he was in violation of a prior order of misleading advertising and felt the fine was inappropriate. that's the news now. i'm julia boorsten.

>> you are looking live with the stock exchange with two hours left in the trading day. the dow is back in the black staging a triple-digit turn around. the stock of the day up 25%. we will have the mystery times in for erin burnett. here's what the street is talking about at this hour. clunker nomices. it worked for cars and is it a proposed program doomed to fail? it's the dinosaur of dot-comes. should craig's list get with the program? is it time for an obama beer program? should he keep bud light from costing more? all that and a look at why the spiraling deficit could be a good thing, but first to the turn around on the street. the dow trying to make it 8-8. rick san teley is here and scott

is at the nasdaq. we were down 80 points and look at aig. well over 100 million shares. hard to borrow, but we have known that for a long time. the big story is the ceo acknowledging that he had been talking to hank greenburg. that was circulating and move together up again here today. let's look at the other big financials and all of what we call the high beta names. fannie mae and freddie mac. one billion shares and it's on that every day this week. just want to note that the energy stocks are the weak sector and as oil hit $75 on monday and stocks have been moving down since then. how are things looking to you? >> today's 28 billion seven-years. that's a demand. why investors are buy together

and are they nervous about equities or the economy or enamored with owning treasuries at the high yields are for you to decide. look at the 10-year with the good auction. not a lot of movement and just the safety tip. a shout out to those who sent me april trading a new contract and fed funds go up and don't look for liquidity by the fed. you see the way it trailed off? why do you think that is? i think bob will know why. the dollar is giving up ground. let's go to the nasdaq. >> mr. santelli. thank you so much. the technology stocks and add that to the list off the sectors. we have picked up a little bit and it wouldn't surprise me as the nasdaq is down about five points if we move into positive territory over the next hour or so. that seems to be where the momentum is going. apple with the stock that is

negative and up by about 3/4 of 1%. they will sell the i phone and research in motion has been negative off the worst levels and down about 2%. perhaps fallout from the story. dell meantime out with earnings after the bell and the stock opened positive. it's back into positive territory. none the less, it's showing you momentum that the nasdaq is starting to build reversing the trend which was decidedly negative. other technology stocks, the chips are keeping us down, down by about a half percent and most of the issues are also lower. >> thanks so much, guys. gdp numbers are better than expected. stayed where it was at a contraction of 1%. it could be a signal that we are nearing the end of the recession. we want to dig into a couple of other vital signs. first up, the deficit. the obama administration is projecting a deficit and is it

possible that there is an upside to the staggering number? i don't know. clunker nomices. will trade in and coupon programs be the answer or could they be doomed to fail. the director for trade policy studies and ann kim, director of the economics program. let's tackle the first problem. you say this could be terrible, but there might be a silver lining. >> a few things focus like a crisis. it's so bad that we may be seeing serious discussions and solutions on the table. that's a good thing for the economy in the long run. >> like what? are you hearing signs of good things on how we will reform the deficit. i haven't seen it. >> the real discussions now is the big three. social security, medicare and medicaid consuming the economy.

real things to get it back in balance. >> sorry there a silver lining in deficits? >> i don't think so. $9 billion in federal debt is nothing but a huge negative. the signs are the recession is ending. this is when growth is normal and we are running $9 trillion in debt, debt passed on to the children and that puts pressure on the fed to inflate the currency that could lead to middle class tax increases and i don't see how to put a positive spin on $9 trillion in additional debt. >> i don't either and is there any way to drive it home?

it sounds like a huge number and it's spending money you don't have. how would you drive it home that this is a bad thing. >> one way to drive it home. it will be three times what we have on education. what would we rather do? paying down the debt for the chinese and investing in our children to compete effectively. >> it's depressing and daniel, clunker nomices. we saw it from toys 'r us saying bring in your old crib and trade it in for a new one. it's silly because it's like you can have a coupon to do the same thing. the thing about cash for clunkers is that the government participated. they are trying to capitalize on something that people feel positive about and stimulate the economy. is this type of program a good idea? >> i don't think so. i don't think the cash for clunkers was a success?

>> why? >> for the same reason. this is a feel good program. people may be intending to buy the products anyway. the new cars and appliances are subsidizing consumption. it's less money that can be spent elsewhere on vacations, furniture, clothing and it will just depress those sectors. when the program is over, people may stop buying it. it will be fewer washing machines and it's not a net plus for the economy. if they require the old machines to be destroyed, we are destroying used and useful products and it could be bought on craig's list by a low-income family. >> that's true. >> daniel, i'm trying to be positive about this. if you are going to do transfer of payments and something to try to get money into the system, wasn't it efficient? >> why not let people decide how

it is spent. energy efficiency. people will be upgrading to slightly more efficient products. with the cash for clunkers, it saved about two hours worth of oil and the cost of reducing a ton of carbon -- >> where did you get that from? >> it's a calculation. when you look at the energy savings, the savings from upgrading the fleet, it amounts to less than 1% and two hours worth of oil consumption. very minimal. for the whole program. >> really? i will have to see more. that's interesting. what do you think? clunker nomices? >> i want to ask how old he refrigerator is and if he wants to take a trip to best buy. i have to disagree about the failure of cash for clunkers. 690,000 new cars sold in the space of two months.

9,000 new jobs saved. how can this program be considered a failure. probably the most effective thing the government has done. >> how can you quantify a job saved. how do you know for sure it was going to go away and it was saved. if you are adding a new job, you can count that, but jobs saved? how do you calculate that? are. >> american automakers pulled people back on the line and deal with the crush in demand. the business of failure, we have seen tumble weeds in people's lots. i think the kitchen clunkers will be on a smaller scale that we saw with cash for clunkers on the auto side. it will be great for job and it is economy and the environment. >> for i can ask more question as the devil's advocate, why is it good we sold these cars. we were deeply in debt and we

are encouraging people to buy cars at a time where we can't afford it. >> we are a consumer economy and transitioning to something else in the short-term. we overcorrected on the consumer demand at the lowest point in quite a long time. consumer demand is going to turn the economy around today. when you are not talking about a permanent subsidy here. >> two unknowns. we don't know what car sales will be. they may be depressed. we don't know what else people will spend their mono. they may have spent it in a way that's more value for them and the economy. >> we are having a problem with your mike. so sorry. we will wrap it up. thanks to both of you for joining us. let us know what you think. i was being the devil's advocate. is it the key to lifting us out of recession. cash for appliances and toys and what's next?

fall fashions? i don't know. decoding the dragon with so many missed messages from the government, should american investors run or could it be the perfect time to double down on china. plus unhappy hour. tough times forcing consumers to trade down to the cheap stuff. why are brewers ready to jack up the prices? it doesn't make sense to me. is it time for a beer summit of another time. you are watching "street signs." we are first in business worldwide.

the world's largest warning that the fiscal year will be tough despite posting a rise. predicting low growth in the coming year. brands like smir nof and you can of voe and guinness grew while sales are down due to the higher price tag. earlier on the street, paul walsh told me that the industry will be forced to move higher amid the price that even though pricing will be more challenging. shares are trading lower down by 4%. not alone in raising prices and anheuser bush doing the same thing they needed to compensate for lower sales volumes. will more expensive bruce cause the business to go flatter? david silver is here from wal street strategies.

it makes mow sense to me at all. i was talking to the ceo earlier today and he said they too are going to raise prices. that seems like economics 101. you don't raise when the steal sales are slowing and there is a recession. >> you look past when the recession will be over. beer prices have been constandpoint and strong. if you are looking 10 years back, prices have increased. the average kind of beer, 16 ounces costs 1.20. you could never find anything near 1.20. you couldn't even get a soed a. >> you definitely can't get a soda for 1.20. i was just thinking that. when you raise prices, is there a chance ta people substitute brands? when it comes to beer, people are loyal to the brand they like. it's not all the same thing. >> we are seeing it not just in

the beer industry and also today, people are trading down. also in the wine industry. people are trading down and not using the higher price points anymore. they are trading down and getting more value for their dollar. there is always going to be the loyal customers and whichever has the coupon out that you can save 1.50 on a six-pack of bud light, that will get a lot more of the customers. what you really have to see is what they are going to do in the future. how is raising prices going to affect the near term? it affects volumes and they have been going down not because of higher prices and the smoke ban. you are seeing that all over the united states and in the uk and parts of europe. there a lot of things going on, not just the prices.

>> what do you think the impact of changing prices is? >> we have an ol goply in the beer industry. whatever they do, the rest has to follow. because they have the huge companies and miller and coors as well with the north american operations. that created that industry across the country and having the local beers really take a lot of market share from the big guys. you are still going to have the people buying bud light and miller lite, but the sam adams and the lagers that are beginning to take market shares. >> are they raising the prices or lowering? >> they have been able to keep it constant and have a higher price point. if you see a lot of sam add ams commercials, they use a pound of hops for every barrel compared to 1.6 ounces for bud light.

that's where a lot of the costs are coming. they are able to charge a higher price point. instead of having $3. they are able to have $5 for a sam add ams. they get customers to pay more by offering a better product. >> if you had to pick a winner who are is it? >> sam add ams will be the biggest winner only because the growth of the beer industry. that being said, i think that moelsen and coors is one of the bigger guys that is going to begin the market share and also an acquisition possibility to really come in and take over and make the two giants even bigger and more competitive against each other. >> interesting stuff. thanks for joining us. >> thank you for having me. >> i'm ready for a beer right now. just kidding. china is sending investors and should they accept the story at

face value. >> you can fight anything and i mean anything on it. the one thing missing is innovation. is it time for craig's list to join the new millennium. are they doing fine the way they are? street signs is back after the break. ff

is this just a hiccup in the beginning of china's big financial fade. this is with jlm pacific epic president and michael lieuit, president. thanks to both of you for joining us. i'm not sure the chart showed it, but all of a sudden dropping. what do you think? which trend will continue? >> i think the shanghai market is just taking a break. as you pointed out. >> there is the roller coaster. >> it run so hard this year, it's pausing to take a break. that's what i think.

what's going to happen is the data that's coming out of china is going to be very positive. they sent missed signals, but the data proves out and the market will climb higher from here. >> what do you think? >> i think the data needs to be looked at closely and it's misleading. i think the reason the market sold off is because there noises out of china that the banks start to pull back from the crazy lending they have been doing. i think chiba's stimulus plan was three or four times larger than the united states plan in terms of percentage of gdp and they have blown up a bubble that has come undone and i would urge them to avoid that at all cost. >> my point about china is how can you trust the numbers? >> that keeps us in business. china is a confusing place.

it really baffles a lot of academics and economists. there is a lot of information that flies out of china that is pretty scary. unless you have been watching china for many, many years and unless you really get at all the data and the story behind the headlines, you are going miss it. the bottom line is, this is a trend that is moving up and not down. as soon as the market tanks 20%, we were getting calls off the hook and everybody is getting ready to pounce on what they missed in the first half of the year which was a great run. >> did you tell them they should pounce? >> i said yes. you can never really obviously mark a time on anything. china runs so hot and cold which is why i recommend getting into positions now on companies that you really like and don't try to market time too much.

if it sells off, i see that as opportunity. >> you think if you do it, the bubble will explode in your face? >> that's not wrong. you can't time the market. it really depends who the horizon is. the market is very overbought. what the government has done is infused an enormous amount of money into the economy quickly. the economy is not equipped to absorb that much money that quickly. where does it go? it goes into stocks and commodities and that creates a kind of bubble. if you were long-term investor, do you your work and pick companies and figure out if you think they are fairly valued or not and you hold. the risk is there aren't that many long-term investors and everybody is chasing the latest trend and trying to make up for last year.

people are trying to make short-term money. a lot of short-term drop that can be fairly severe. it may well be higher. there many investor who is do that anymore. >> give me your picks. >> i pick two. that trades on hong kong and it's a retailer that focuses a sports wear. the interesting thing you want to be looking at the younger generation. this is a generation much different than their parents. they make more and spend more and save less money. this is way to play it. the other thing i would choose is sea trip, the number one travel aggregator in the market. they have by far dominated market share and if you believe in the rise of the chinese gdp,

travel is a great way. >> if you are listening to criticism about time horizon, is this holding holding for a while. >> i would hold for a while. i don't think you need to hold for years. if everybody comes back from labor day and decides they are in a bad mood and they want to drive down, it won't take long for it to snap back. the data will wear the bears out. i believe that. >> jim kramer is here and wants america to run on natural gas. we are going ask about aig's monster move. i don't know if you noticed that to figure out what is behind it. everything old is new again?

details on a report that shows how businesses can make baby boomer workers more profitable than younger workers. you are watching "street signs" first in business worldwide. ♪ 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...

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live at the nymex with a $2.5 billion turn around. we finish up over $1 at 72.48. up as high at 72 to 76. close to the high, but natural gas, the only decliner of the big four traded energy commodities here. lower here today as the supply continues to build there. that does not. you cannot hide the fact that that is masking underlying weakness in demand. there you have it. back to you. >> look at that. down almost 4%. way below $3. time stop the trading and jim kramer is here with and we were just watching nesto talk about it. down below $3. >> the ultra upl. the cheapest driller in the country and makes the most. how come you are so confident

that the stocks are making a move and it makes sense given the fact that the commodities are? we continue and it will be the preferred fuel on this bridge fuel. we start seeing the natural gas and that's why you see clean energy ramping. that's the boone figgins. i think he has been on my show a bunch of times and this would be amaze figure it happened. i push for it every day. >> it's a transition. >> but right now the democrats favor solar and haven't seen a lot of panels. a terrible way. >> those are all luxury plays. apples and oranges. >> clean coal is an oaksy moron. >> we are getting off electric and could argue about this for a while. >> i don't care about the futures. i care about the future. >> okay. you see the bottom line will be

a major change in washington. using natural gas as a transportation fuel. not in cars. we will talk about in fleet vehicles. >> trucks. >> federal cars and trucks. >> we will hear about legislation and that's huge. >> $5 and $6 will be where it is. it's energy-efficient and less noxious and energy-independent and boom. >> natural gas futures are trading at lows. >> let them do a dollar who can pump the dollar. >> that's interesting. let's look at the market. we have seen a big reversal here. >> i think people forget this is primarily the day where mutual funds buy their stocks before i became a gentlemen. >> you are a gentlemen? >> i would have said they are marking up stocks. they take their stocks up like citi and reach 5 and 1/4.

i expect apple to go back and bank of america with aggressive buying. aerospace suddenly and boeing. we can do allegheny technology and goodrich and spirit and triumph and bea aerospace. >> that was like a whole dance. >> 'not. >> citi. >> citi. paulson is the best. everybody felt when he did his filings, it was a temporary thing and went in and went out of them. this is the most important. the man who understood mortgages is buying a bank that we know the biggest problem is mortgages. he said that. why should we believe the bears if the number one smartest mortgage guy can bid in the city. >> look at that. the 10% move. >> it's not speculation. aig. i can argue that it's not speculation and that fannie and

freddie. the preferreds could be worth something. >> aig's move is staggering. >> i got to put a proprietary run and ask me about that. under the first 30 days of trading, 20-1 reverse split. 50% of the trait were short. they are amateur and should take away the shoe laces and belts for self preservation. get them away from windows this. guy should not be near windows. >> what's going to happen to aig. >> he is one of the most respected people and absolutely money. if greenburg comes in, geez. >> do you think that's going to happen. it's the first guy who came out after the tragedy of 9/11 and

said metropolitan can pay everything. his word is his bond. they are going up against it and whether you think it or not, i don't want to go up against him. >> he's the guy, but a lot of high expectations. >> divide it by 20 and you ain't done nothing yet. >> aig is a short squeeze. by unprofessional shorts, even fannie and freddie. i like the preferreds. >> real quick, ancillary plays on boeing. >> the most important big cap ones are honeywell which which is a huge play on boeing and people forget alcoa is a giant maker of fasteners and the obvious is precision cast parts because that is entirely aerospace. these companies exist for bowing to ship. >> you are fired up. no more caffeine today.

hold off a little bit before your show. love you and thanks. much more of jim tonight. you have the chairman and ceo. >> i won't stop on natural gas until every car is powered by it. >> we will talk about this off line here on cnbc. a great show and he's fired up. still to come, it's the cobweb of webs. does craig's list need to shed the design and creepy image to thrive in i wouldn't call it creepy. i put a lot of stuff on there. from prison to emergency. why sir alan stanford was rushed to a hospital. a live report on the other side of the break. you are watching cnwc. we'll be right back. some people buy a car based on the deal they get.

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a monster reversal in stocks. boeing is leading the way and the dow is up almost 9%. citi and aig on fire. here to give us an update is the market analyst, warren myers is with us as well. thanks for joining us. >> this morning, everything looked weak, but what's interesting if you look at the market, the market reversed with oil and much of the market cap is energy of related when oil started the reverse, everything reversed. >> do you agree with that? i was down on the floor this morning with no energy. everything turned around. >> i think he is right. it was the dollar taking a beating in the mid-afternoon that forced crew prices up and

energy prices in general. that being a weight in the industry, it was a combination of the dollar getting crushed. the energy is up and that moved the market up this. >> is it light volume and is everyone on vacation. will this not continue? >> i said this morning, i don't buy the light volume. i don't buy the everybody is on vacation excuse with i phones and blackberries. i can't believe you are not paying attention to the market. if you go through the list, today is a fairly exciting day especially when you see what happened in oil and you also saw the nasdaq and lagging up until the last 20 minutes or so. >> are we going to stay strong? >> with oil closing up the way it did, the crude at a three-point move from the lows to the highs, it will be very difficult to knock it dock down.

cnbc's scott cohen is in houston with the details. scott? >> a story we broke for you this morning. what a day. we thought we would see him in public for the first time in nearly two months. he has been in custody since he was indicted in mid-june. a lot of people wondered how would he be doing when brought to court. the answer apparently is not very well. he was not brought to court. instead early this morning he was rushed to the energy room at a hospital near the federal detention facility where he is being held with an irregular heartbeat and his attorney or attorney for now acknowledged that maybe the stress of today had something to do with it. >> i wouldn't be surprised if

the stress didn't exacerbate his condition. he had high blood pressure and unable to get adequate medical treatment in the detention center in conrow. i'm not surprised at all. >> one of the things that would have been stressful today if it had gone the way it was supposed to. he would have been alongside james davis. the chief financial officer, the old college buddy, the money man he pleaded guilt to three counts and a plea bargain and could face up to 30 years in prison. today he talked to us. >> i take responsibility for my actions.

>> he will testify against his boss. his plea agreement is unusually detail and gives the most insight yet into the government's case that they plan to make when they bring alan stanford to trial. the fraud dated as far back to 1988. he got the offshore bank relocated to swear to a blood oath they that they did a ceremony and that included the plans to pay hundreds of thousands in bribes so that they would keep the fraud under wraps and it also said that an outside attorney for stanford repeatedly misled the sev and that raises interesting possibilities. stanford's outside attorney has been a former top litigator for the sec and not clear if he was the outside attorney and not responded to our requests for a

commend, but suggest the case is going on. >> those are amazing details. is it time for craig's list to reboot? coming up next and a new report on why companies might want to think twice before putting their baby boomers out to pasture. another case where wisdom is wrong. you are watching street signs. i get the question "does it work?" all the time, and you know what, it works. nutrisystem for men: flexible new programs personalized to meet your goals. what's great about nutrisystem is you eat the foods you love

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if you weren't watching it, you missed it. we have slipped below slightly. boeing, amex and travelers, the top three in the dow. if you are looking for an apartment, a date with a clown, you will find all 3 and much more on craig's list. it's one of the most popular and successful websites, but critics say it's a lost opportunity. the senior editor of wired magazine whose article calls it a tragedy. harsh words. words. and david garrity, principal with gba research, who says come on, leave them alone. nick, let me ask you, i read the article. i thought it was really interesting. the thing is that even though craigslist is really quirky it's really successful. >> oh, absolutely.

craigslist is incredibly successful. and they're incredibly successful both from the number of users and from a financial perspective. they have 30 employees. they generate $100 million a year in revenue. that's insane. people in business schools will be stud them forever. what this article, written by gary wolfe, says is, look, there's an tount make craigslist so much better. the best real estate -- it's the most important real estate site we have. most important dating site. and yet it's a mess. you can't follow people. all this technology that's been built in the last ten years that makes so many other sites work better, craigslist says you know what, we kind of like things the way we are, we're not going to make it better. >> david, i mean, it's really plain and simple. craigslist is amazing. it has 30 employees, as opposed to ebay which has 16,000, amazon has 20,000, and yet craigslist has more traffic than both of them. is the secret to its success that it is so simple maybe? >> i think the fact that they -- the "wired" article did a wonderful job in terms of going behind the site, talking about the dynamics of it. and it certainly kind of raised

the issue here in terms of a lot of things going on around craigslist they really can't be counted, they're not financial, that i non-measurable elements. and to the extent it's a very closely held company and to the extent that the model works for users, it's very difficult to see what the motivation might be for the people who own and control craigslist to really sort of prompt things to move further in the line of where the article wants the company to go. >> i mean, nick, the article makes the point, and you made the point -- you edited it, you didn't write that. sorry about that. but it makes the point that they're not monetizing this to the best of their ability. i mean, maybe the guy who found td doesn't want to. he makes that point in the article, you know, several times. craig newmark. that he really doesn't care about money. but you're saying obviously this could be an even much bigger business. >> but we're not talking about it from a business perspective. god bless craig newmark. in the story he says look, i have a nice apartment, i have a parking space, i have a shower with good water pressure. >> and he looks really cool and hip. >> why would i want -- the man is a billionaire and he cares about his shower's water pressure, not that his yacht is

one foot bigger. so bless him. but the point is the site is a mess. there's spammers, scammers, all sorts of mayhem. this is a very important social link. you don't want to say social link for society, but it's a very important site for a lot of things that really matter to people, and there's a lot of technology out there that can make it way easier, way more useful, and it could do the things it does a lot better. one thing we did as a service, a free consulting service to craigslist-s we redesigned the site and we published it in craigslist and he with hope craig will look at it and say you know, what they're right. >> i don't think he's going to do that. david, i think nick is making the point that there have been the two so-called craigslist killers. there is all kinds of things going on in the site that are maybe not for the overall common-g although there's a lot of great things going on as well. i personally have sold a lot of furniture there. should they try and clean up their act a little more? >> from a quality standpoint there are always things that could be improved for all sites, and obviously craigslist is not exempt from that requirement. but at the same time if users were disaffected they wouldn't be having the traffic that they

have. and they have been successful in terms of building a very, very substantial community as the "wired" article spelled out. you mentioned the comparison earlier with ebay and amazon. if you looked at the productivity in craigslist in terms of a revenue per employee number, they're actually doing better than google by a factor of three times. the company is an amazing success. and from that standpoint until such point as the users come out and say look, it's broken, fix, it nothing's going to happen. >> yeah. and if you fix it it might dilute the brand a little. maybe people like it because it is so -- >> quirky. >> yes, exactly. thank you to both of you for joining us. that was fun. coming up, how to turn silver into gold. we're not talking about commodities. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800-345-2550 doesn't matter if a company sells computer chips tdd#: 1-800-345-2550 or, i don't know, fish and chips. tdd#: 1-800-345-2550 i'll look at all kinds of stocks before i settle on one. tdd#: 1-800-345-2550 if i think i'm onto something i'll check it out, tdd#: 1-800-345-2550 you know, see what other traders are up to.

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corporate america is terrified due to the recession, 79% of boomers say they're planning on working in retirement. can business turn this silver tsunami into gold profits? lance perry is a senior risk engineer for zurich financial services. lance, you did a study that suggests that companies willing to accommodate their aging workforce will be more productive. >> oh, there's no doubt about it. thank you for having me, by the way. we know that these folks are going to be there longer. we're living longer. our average age right now is 78, life expectancy, as opposed to 70 years back in 1970.

we're getting to 65 and saying, you know, we still have a lot to offer, why should i retire, i'm still good, i've still got my brains and all my experience. so why should i have to quit now? so we are living the economic times of last year is forcing us to reevaluate our retirement plans. we are staying. 2 out of 5 people have reported that they're going to work longer if given the opportunity to do so. >> but lance, you make the point that companies should not be afraid, i mean, they should embrace these people because really the conventional wisdom is that younger people are more productive. but in fact younger people are sitting at their desks on facebook, listening to their ipod, texting their friends, e-mailing everybody, instant messaging. older people are actually more productive, you found. >> well, we understand that -- >> more engaged at least. >> we do know that there is a difference between being young and being older, being aging. as we do age, we do know that we do have degradations in certain areas, physical as well as physiological degradation.