"street signs" begins right now with the dow jones industrial average down and the s&p 500 down four points and nasdaq down half a point and russell 2000 down 2 1/2. have a great day. see you tomorrow. breaking news at the top of the show. to diana olick in washington. >> the decision is finally in. fannie mae and freddie mac's conservator said he will not allow the company to participate in the mortgage production program that allows lenders to write down balances. he cites moral hazard and potential danger of strategic defaulters. worse is principal forgiveness rewrites a contract and could hurt the overall willingness of banks to lend. treasury secretary timothy geithner responded immediately asking demarco to reconsider saying the use of targeted reproduction would provide much help to a significant number of

troubled homeowners and help repair the nation's housing market and result in a net benefit to taxpayers. >> big news. sounds like a battle is brewing in d.c. thank you very much. here's what else we have on tap for "street signs." we have a street fight. bill gross saying the cult of equity is dying and calls out professor segal. he is here to respond. herb is all over herbal life. and responds to criticism, a rare interview you will see only here. scary new stats on how much the deposit is really spending and why super slick thieves are turning grease into the latest cash crop. >> thank you, brian. good to see you again. and let's take another look at the dow with only two hours to go. the third decline on the board this month but good news, it remains positive for july and set to close out at the break

even point. the nasdaq is trading almost flat, dipping to 88 bucks a barrel. let's get more with what's happening with the markets. bob, good to see you again. >> good to see you. >> you were writing there's a lot of complacency and a lot riding on central banks and be wear central bank disappointment. i would add we're not rallying to the central banks because that's when the real disappointment could set in? >> we had a rally last week, pretty good news on the upside, pricesing in a lot of extraordinary commentary from the central banks. that bothers me. aggressive stimulus, i don't know. they have to have one heck of a big bond buying program from the ecb to satisfy moves on the upside and assumptions the fiscal exclusive will go away and more double digit earnings growth. numbers are coming down but not that fast.

you take a look, we're expecting another record year in 2012. $103 for earnings and another record year in 2013. they keep bringing the numbers high up there and slowly move them down. i don't think fast enough here. my number one concern is about the earnings deterioration we have seen here. there you are. back to you. >> before we let you go, we have a pretty incredible stat for the good folks at an investment group. since the fed enacted zero percent policy in december of 2008, the s&p has gone up about 60%. about 38% of the market's gain has come on just 29 of those day s, the fed day! does that bode well for tomorrow? >> you know what. i've seen this stat before. art was remarking on it the other day. the question is what do you do with the other 225 trading days in the year. we do get an awful lot of volatility on these particular days. it goes down as much as it goes up as well.

back to you. >> bob, thank you very much. pempco's bill gross taking a big shot at the stock market in his latest monthly outlook say s th equity is dying. and a fading 6.6% real return, known as an siegel constant, a ponzi scheme in a sense, and they have been skimming off the top because gdp growth has been less than half of that. joining us to respond is professor siegel from the wharton school of finance. your response? >> yes. is bill also on the other side or is it just me? >> we invited him on. he should be on tomorrow for his fed day role. it's just you today. >> lots of things to say. first of all, you definitely can have the return greater than gdp

growth. there is nothing uneconomic about it. the thing is capital gives out dividends, interest, gives out return. when you add that all together, it's going to be greater than gdp growth, even in a non-growing economy, you have situations where return is greater than gdp growth. that's not an anomaly. he seems to say that's an anomaly. that's something that has happened over long periods of time. another thing he says, the period, he looks at the period from, i think, 1914, until the present and calls that an anomaly. we have the same data in the 19th century, from 1802 all the way up to the beginning of the 20th century. we also have 6 1/2 to 7% after inflation return. it's not an anomaly. if we want to go even further, there were three british economists, michael stanton,

elroy dem son, terry marsh, who did a book 10 years ago, looking at 18 different stock markets around the world, from 1900 to the present, and their returns, most of them were not quite as good as the u.s. there were two or three better than the united states but you are talking about 5 1/2 to 6% after inflation. >> professor siegel, wouldn't you say, though, if you just take recent history for example, say the past decade or 12 years, we've kind of had no returns from the stock market for a lot of people. even taking 2008 to today. the dow and s&p are either flat or negative. do you feel maybe your buy and hold long term investing theory has been facing increasing obstacles? >> we always know after a bad decade, and we haven't had a good decade, that has always been in the stock market followed by a much better or above average decade. in fact, i was looking at his

figure one he had there. talks about the stock market for 100 years. if you go back 12 years, his stock market is the highest above trend it has ever been. not surprising once you get way above trend, you will have a bad 10 years. also in the year 2000, you had a price earnings ratio of 30 for the s&p 500. today, it's 12 or 13. so -- and you're below the trend. i looked at his, below the long run trend. yes, i will grand that the last 10, 12 years have been poor years. we started from the most overvalued market that we've ever had in the last century, and we've gone not to the most undervalued one, but a market that is valued lower than the long run average and relative to bonds. he talks a little bit about bonds in this article also. it's one of the most attractive markets we actually have now

going forward. >> professor, dig in a little more to gross' primary thought, if gdp is growing at 3 1/2%, it doesn't make sense the market can grow at 6.6%, because, to him, that implies, as he calls it, skimming off the top. make the case why stocks can outpace overall economic growth consistently ov lly over time. >> what he is putting down on this graph is called total return, the amount of dividends plus the capital gains. that doesn't mean that the stock market values keep on going up relative to gdp. if you looked at that over 100 years, you would not see a stock market rising relative to gdp. the total return, that's the dividends, interest you get, people live off that. they spend that. that's not skimming off of the top n. capital has to give you a rate of return above growth,

even aono growth economy, rear going to get some return on capital. so it's not an anomaly, it's not inconsistent to have that phenomena. he had total returns here. he didn't put stock market value, total aggregate value, just talked about total returns. remember, most of those returns are spent by you and me and investors to consume over time. so there's nothing anomalous about that. in fact, economists will tell you, you will almost always get total return above gdp growth. so it's not an unusual circumstance whatsoever. >> professor siegel, thank you very much for coming on and defending yourself on "street signs." we did ask as brian just mentioned bill gross to join us but he was unavailable but we will have him tomorrow on "street signs," the fed decision, right here on cnbc. consumer confidence jumped for the first time in six

months. americans seemed to be getting more hopeful about the economy but a much bleeker picture painted. there seems to be a bit of a disconnect. >> i like the way you put that. i wonder if the economists are getting bearish as there is a turnaround growing in the economy, maybe that's the topic for tomorrow. >> let's talk about the other side of that, the nopium, what is the outlook for u.s. recession? it came down from september, 26%, even 1 in 5 chance, that could be the new normal. it popped back up in july to 25% and hasn't been this high since october, was on the way down but what we don't know, is this on the way up? let's look what the money managers and analysts said, gdp, you can see in the next chart, if we can get there. maybe we can't get there, it's come down quite a bit in april. july, down 1.5%, about .4 of a

percent. and they used to think it would happen in 2014 and now shifted in a dramatic way to 2015. where are we? 2015, 13%, now, boom, look at the new part. 48% have now shifted into 2015 or later. let's break that down and take a look what that actually means. 28% think the first half of 2015 and then you get into the second half. 11% now think it's going to be in 2016. a couple other things we want to look at. what effect would qe have on stocks? we asked people if there was a $500 billion theoretical qe what would happen? in general, 1-4%. angt actually, 5-7% on average. that's the effect on stocks. interest rates already down at 1 1/2%, not really much expected. 42% think it will bring it down.

33% majority think it will have no effect or raise interest rates. that's not true for mortgages. because our panel believes the next ue 3 will be mortgages and treasury purchases, 70% think it will drive down mortgage rates somewhere around 10 to 15 or 20 basis points. is that the last chart we had a problem? you can read more about this on fed survey.cnbc.com. we have all the results. g guys, 78% of our panel looking for qe from the fed in the next 12 months and think they will hike bonds in the next six months. the markets are wired for action, basically. >> how accurate are these surveys in predicting what will happen? >> i had a chart but it didn't come up. ahead of qe-2, when we started this survey, 90 something%, about a month out were smelling and tasting qe-2 on the way. the 78% is probably analogous to

that. pretty accurate. 56% are looking for the qe-3 in september, not this week. >> thank you very much. let's get a market flash from mary. >> hi. we're taking a look at hertz and some other rental cars. hertz is down 3.8%. the news or comments that have gotten investors' attention is the conference call they were saying the recovery in european rental car demand it was expecting in the second half of the year, it hasn't developed. avis is down 2% and zipcar down 3.7%. hertz beating the street but comments on europe putting pressure on the stock. back to you. >> thank you. coming up next on "street signs," you will need red red wine to deal with all this red red ink. did you know uncle sam borrowed 36 cents of every dollar it spent last year? we will speak to the author of a

book jack packed with federal stats on federal spending. india blackout, half of the country in the black on a second day in a row. and update on what could be the biggest power outage in history. ? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase,

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did you know the u.s. government burns through about $400 million an hour, about 6 $1/2 million a minute. it's the kind of stat that makes your head spin and exactly how we landed on them of our fiscal cliff? how do we pull back from the brink? joining us, defend wessel, author of the new book "red ink," high stakes olympics of the federal budget. david, i looked through some of the stats and didn't have a chance to read the entire book. i almost had to put it down because it was so scary. how did we get to this point? >> we got to this point by making promises to people to pay them benefits without finding a way to pay for them through taxes. when you cut through all the noise, that's what this is about. >> you could have titled your book everybody wants everything and nobody wants to pay? >> that's right. the head of the congressional budget office says the fundamental problem the deficit presents is the american people want more in benefits, mostly

for the elderly than they're willing to send to washington in taxes. this isn't complicated. >> brian asked the easy question, how did we get to this point. i will ask the hard question, how do we pull away from this point? how do we make it better? >> it's very important to think of the budget as major pieces, taxes, what we spend on defense, more than the next 17 companies combined and all these benefits we promised to people, retirement, health and so forth. it will take some combination of those to get us out of this mess. higher taxes, less defense sp d spending and health care, a quarter of all federal spending. >> no one has the political will. would romney do any better on this front? >> i think you're exactly right. political will is a problem. one of the tragedies of this campaign, we've been diverted into a lot of talk about who said what and the tv ads, it's hard for the public to

understand. what exactly would governor romney do about the deficit and how is that different from what president obama would do if he elected different from what he said to john boehner last summer? >> you don't get elected by telling people what they're not going to receive. let's say nothing gets done no matter who is in the white house come next november. how long can this go on or is there a chance for a u.s. default down the road? >> it can't go on forever. i don't think anybody knows how long it can go on. the u.s. is a long way from default. one of the reasons we're in this position is the government of the united states has been able to borrow almost unlimited amounts of money at interest rates lower than they've been in your lifetime or mine. this can go on for some time. the problem is it may end quicker than we anticipate. some day we will find we can't borrow as much money as cheaply today as forced to make choices

and better if we make them in advance. >> you know that lunch we're eating? its not free. thank you. one of the biggest blackouts in history. for the second day in a row, india's power grid has failed. about half of india's population are in the dark of $1.2 billion people. 1.2 billion people. and a smaller outage left people in the dark as well. this report was filed for us. >> reporter: over half of india was left powerless today as the northern and northeastern grids collapsed, on account of some of the india's northern states actually overdrawing beyond what is allocated to them, which led to the collapse of the northern grid for the second time in the last 24 hours. that caused a domino effect with northeastern and the eastern with collapsing. this left 600 million indians without any electricity almost

10 hours. disrupted railway traffic, threw air traffic out and now back up on emergency services and hospitals out as well n. the government has managed to restore power in large parts of the country. remember, 21 indian states went without power. the northern grid has now regained service and the capital of new delhi is back with power and other states seeing normalcy returning. >> that was from cnbc. we will head to see how the super rich are getting sticker shock at the games. and a battleground stock, herbalized, a very strong quarter for hlf. herb is here, crame is here. you do not want to miss this, folks. "street signs" is back after the break. for business.

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the british public. there's been a lot of criticism on empty seats at these events. the rich have had no problem getting tickets but getting there is a whole other story together. it is costing serious money to get around the capital. reporting from london. >> reporter: with 1 million visitors expected to visit london during the olympic games, the cities roads and trains are packed with vcontestants and visitor visitors visitors. and the airport the city's only commercial flight for helicopters. this year between the queen's diamond jubilee and olympic games, it's even busier, up to 20%. >> at the moment we had up to 150 slots over the period. we expect some more. a lot of those bookings have been planned long in advance for

sponsors and senior executives. >> reporter: once you land, diplomatic is just one who is glad to help you. it doesn't come cheap. >> reporter: you can charter this boat for 12 hours for your exclusive use during the olympics. if you have to ask how much, you're probably not going to be using it. for 4700 pounds or $7,000, you can go one way. too steep? but this can be yours for the price of 950 pounds or $1600. if the boat looks familiar, that's because it took james bond himself for a ride on the thames in the film "it's not enough." they provide champagne. >> we provide whatever you want, to be honest. you want a martini, something on the rocks, we can give it to you. >> mandy, if there's one thing i learned from doing this report,

competitive displays of wealth has clearly become its own olympic sport. >> famous last words, we can give you whatever you want, whatever you ask for. good to test it out. i want to ask you quickly, forget about the rich for a second. what about the average joe and how the infrastructure around london is holding up. the tube or subway is kind of n unreliable at the best of times how about now? >> reporter: i have to give it a pretty positive report. i've been taking the tube across london the last several days. i'm surprised how empty it is and several people have remarked how much the city has cleared out. trying to get to wimbledon has been a challenge. tube service has been backed up the last couple of days, been off service. trying to use the special javelin line across town has severe delays today. for the most part, there hasn't been that much trouble getting around. traf on the streets, at one point last week was down 13%

year on year. we're all thinking here in london, scare people off more often and make it's easier for the rest of us to get along. >> let's hope we're not jinxing it. coming up next on "street signs," herb and cramer. later on, greease is the word o the black market. even hiring grease security guards. the wild story on that coming up. [ male announcer ] when she takes the starting block this summer,

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welcome back to streets signs. let's get another check on the headlines with 19 minutes on the trading day. the dow is clawing back, near the flatline and ouch, facebook falling to near new ipo lows, falling 40% since mid-may with the ipo price. apple is up 2 1/2% and bern seen saying the company could be considering a stock split. the recent decision to pay out dividends could make the company more likely to be added to the dow. here's a wild step. apple is the only company with a market cap over $250 billion

that pays a dividend that isn't in the dow. just thought i'd throw that in for you. brian, over to you. >> stats are always a good thing for "street signs." herbal life shares spiking today up after the company posted strong numbers and posted the outlook for the year. this company has been the subject of much back and forth on wall street. michael johnson ceo is here to talk about his company and address concerns raised about the company. also with us, jim cramer and herb greenberg. herb, or as we call him now, herb, raising one of those concerns. jim, i will start off with you, you have a lot of papers. >> first, michael, i want to let you know, herbal life is a stock we liked for a long time, made a great deal of money for people. michael came into a situation it looked like it was not a murky financial situation and i thought he cleared up a lot. he has questions to raise.

this is a terrific quarter, michael. you, at the beginning of the conference call, you talk about how you're going to start addressing how much a product is actually sold to people who are not distributors. you give terrific numbers in america. is this the beginning of more disclosure to make it so those critics are saying this product is selling pretty well to everybody. >> it's the beginning of more research. we put leberman on contract with us. >> you better explain? >> leberman probably one of the number one research agencies in the country. maybe not number one but top 20. >> what do they do? >> they go out and ask questions and look to see where your our product is in our case and gave people a specific set of questions and will determine for us along the path for the next four years and disclose exactly what's going on. this is where the questions are. >> why can't you just have it, like in south korea, china, you tell them, listen, we want to know exactly how much is sent to new people and distributors.

that way, you can always refute those critics who say this product is being stuffed into it. >> there will always be critics in any business you're in. we will have critics who don't like our business model or the way we do it. when you go to the marketplace or sam's club or costco, they don't know, we just learned this week, sam's club, 50% of their customers are business customers who go out and resell the product n. they don't know who it goes to, have no idea. 50%. in our company, we know who the distributors are, know the distribu distributors are customers and that's the hype saying you're selling inside this network. >> let me go to herb. obviously, the numbers are very strong, you have a big buy back, wish you had a bigger dividend. herb is the quality man. >> going after the quality of your earnings. >> when you get to the issue of earnings quality, you do get to

that business model we mentioned. that gets to the issue, why do people, including the country of belgium believe you're operating a pyramid scheme. >> the country of belgium had a lawsuit, we had a lawsuit with them we have appealed. many companies of lawsuits, microsoft, antitrust and companies fight it out with each other. we think they misunderstood our plan. they said we were recruiting and paying for recruiting. we don't do that. that's what a typical scheme is you've been addressing and had concerns with. we don't have that. >> do you believe if you appeal, you guys prove you were not paying for recruitment, they will overturn that decision? >> absolutely. >> why is this something people constantly bring up regarding herbal life and the market level industry? >> i don't think they constantly bring it up. in my 10 years, this is the first time i've dealt with. >> on your website, you use that as a frequently asked question,

are we a pier rapid mid - mid -- pyramid scheme. why would you put it on your website? >> over 32 years, there is some thought about direct selling and the fact that people aren't moving the product if there aren't consumers. that's not with us. >> what would happen if the ftc came along, you mentioned sam's club isn't regulated the same way your industry would be. if the ftc came along and raised the same issues as belgium, how would that affect your business? >> i don't think they're going to. we looked at all their rulings and operate in complete above board transparency. more open, the analysts tell us, than any other company out there. >> on this issue of customers, how many customers you have, which is a big issue, what percentage of your sales go to end customers? >> 100% do. >> to end customers, actual non-distributors, people not affiliated with your business. >> many of our distributors are

customers and goes back to the heritage of the company. in the '80s when it was set up, everybody was distributors and bought in case lots and that is broken down to individual shakes. but that has changed dramaticall dramatically. >> when you get to how it is sold, we asked the director of consumer protection. said in order for them to differentiate itself from a pyramid scheme it has to show you're selling real products to real customers, and your answer is i don't know, that's a red flag. >> we don't say we don't know. we're selling to consumers, we have 32,000 nutrition clubs people are coming everyday and consuming our product. we just did lieberman research to show we have 5 million homes in the united states consuming our product not distributors. i have complete comfort with the ftc or anybody else who wants to come. >> herb doesn't sell the stock

or -- >> doesn't sell the product. with that in mind -- >> the makeup girl does, doesn't sell it but she's a consumer. there's a customer, right in your home here. >> if herb is asking these questions, isn't it fair to say can herbal life do a better job explaining to the investment community exactly what the chain of sale is? >> i think we can do a better job explaining it to herb. the investment community seems very comfortable with it. >> there were questions raised on the previous call, not this call, trying to get specifics, you said, listen, we will get back to you. you obviously scare about any integrity call about this stuff being stuffed in garages. >> we have seen some in garages. >> i am sure you can find, if you look at any business anywhere, you can find something on them. jim, i said to you, when i was on your show earlier, we do -- any company has strengths and weaknesses. where we have those weaknesses,

we're going to fix them, gets stronger, build this company better every single day and every year. >> the cash flow -- there is a lot of cash flow. cash flow tells the truth. >> gets back to the model. we're talking about a gray area of a model based on where the ftc could or could not go. michael, why does it appear most of your distributors fail? >> it does not appear that way because most are consumers. sometimes they may not renew their distributorship because they gate discount for their upline and don't have a reason to renew. >> what is an upline? >> an upline, i recruit you to be a contributor, you may be my customer and i say, hey, look, i give you 25% off, you become a distributor, sign up, cost you 50 or $100 to sign up, just like costco would sign up somebody to their membership. then i'll give you 25% discount. at the end of the year, it costs

10 bucks to renew. do i have to pay this 10 bucks? no, i still give you the 25% discount, you just buy through me. >> michael, a few years ago, a convicted felon, barry minkow had been a critic of your company and suddenly he shut up and it came up in court testimony you paid him $300,000. why did you pay a convicted felon $300,000? >> we sued him, he counter sued us, we were about to go into litigation. in any business, what's best for shareholders and the company. let's not distract ourselves with a lawsuit. he's in prison because somebody did take the energy the right thing is, i tip my hat to le mar holmes what was the right thing to do. we said, this isn't worth the time or distraction, pay off the attorneys, get out of here and let's get on with business. >> okay. jim. >> i say, having been in lawsuits, i would have destroyed him. i don't care he's in jail.

they take your name and besmirch your name, doesn't matter he's in jail. you shouldn't have paid. you should have said what's best for shareholders we will never stop. that's my approach in life and worked for me and i think you should have adopted it. >> i think if he showed up today, we'd be on the plane with you. >> you have 300 million distributors around the world and rules and regulation. how do you control those 3 million districters so you are not deemed what some would say a pyramid scheme. >> we have our own distributor compliance and our own group that looks at that. secondary we have distributors doing very well, ceos of large sales organizationgatisorganiza the top. if you are in my hood and i will tell the company because you are damaging my business. >> we have to go. we have this limits of time. i want to ask you this, michael.

if dived inhorn was sitting here today, what would you say to him? >> why don't you call us? >> have you? he famously jumped on your conference call, spooked the shareholders but you haven't had any follow-up communication with him? >> no. >> you want to ex-spabd to china. avon got in very big trouble in china. how can you assure you won't get in trouble given avon is one of the longest -- >> walmart had problems in mexico, how do we know you're not paying bribes in mexico? >> how does that go with the avon -- >> coming from a very interesting place. we have to get you wired for positive. in mexico, the opportunity in mexico versus individuals, we're not buying real estate, we're not working with city officials and all the things accused of them on bribery. jim, on china, you know i've always been cautious about china. we say that in every earnings. i've been doing business in china since 1985 in my own life and the life at herbal life. i am extremely concerned about

that marketplace because they reinterpreter the rules there all the time. as long as the rules are as stated and given to us by the legal firms how to operate, we are fine. when they change the rules and put an mcdonald's out of tiananmen square and say, the bulldozer will come and you're gone, that's a game changer. >> are you going to buy avon? had any talks to buy avon? >> no, i have not. >> thank you. coming up, street talks, plus a rare silver lining for stocks down 58% the last year and the greasy bandits. restaurants forced to hire security guards to protect their grease. why cooking oil is suddenly such a hot commodity on the black market. a story you can't miss. don't go away. [ male announcer ] at scottrade,

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while many automakers are just beginning to dabble with the idea of hybrid technology... ♪ ...it's already ingrained in our dna. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. coming up at the top of the hour, investors are cutting back on spend because of the uncertainty of the economy. the ceo of coach will tell us how that affects his company's bottom line, that stock down sharply after reporting earnings. will the nasdaq sue facebook

over the loss? coming up. and the blackout affecting more than 600 million people in india, we will hear somebody who says the u.s. is in real danger of facing similar blackouts down the road. sue is here and we look forward to seeing you at the top of the hour. first, a market flash by mary thompson. >> a look at oc technology. down for the day. it has been choppy over the last couple of weeks because there have been reports seagate technology may be in talks to buy it but in today's trade it is suddenly spiking higher. >> we will keep a watch on that. now, a stock struggling today. >> we will last through this

one, executive search form, stock down nearly 10%. the company also saying it will withdraw full year guidance. an economic story here, companies not looking for the top level executives heidrick would place. >> absolutely. the other one is cirrus logic, a big story. >> raising their target to 43 from 35. still sees some nice upside for cirrus. >> guess who their largest customer is, apple. a lot is because they're their biggest customer and the iphone 5 coming up this year and more business for cirrus. despite bad news for accretive health, what gives? >> they were under fire from the state for billing tactics.

they reached settlement, didn't deny doing wrong, but they're not going to do business in the state, and why is this stock soaring, because as they say, they're removing a big overhang in the past 12 months but credit suisse remains a nice overhang and pay 2.5 million bucks in a settlement fund. >> and remove iing cable from i topics. >> what city notes is the stock is up 10% since we made our call, trumped the overall stock market and so they're going to remove it not because they don't like it because they pretty much accomplished their goals, stock up 1.8% year-to-date and 1 1/2% today. and one of our favorite disaster disasters. >> sticky fingers meets greased palms, why cooking oil has become the hottest thing on the black market.

organic artichokes, organic lettuce, organic kale... does your cauliflower have a big carbon footprint? not at all. that's great. melons!!! oh yeah!! well that was uncalled for. uhh... mr. gallagher. incoming!!! hahaha! it's wasteful.

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today's disaster is dendreon. they are aimed at boosting projects that will add more than

600 jobs over the next year. they continue to lose money because of their drugs for prost date cancer treatment. let's turn it around and flip over the other side of the coin. for a long-time disaster stock, nokia finally getting a day in the sun. the execs are making investments. >> dendreon was a $54 stock just over two years ago, and now it's a $5 stock. it's a disaster, but it's a disaster for all year. it means two years in french or -- >> excellent french accent. >> grease is the word on the black market.

thieves are setting their sights on cooking grease. we're in l.a. for this slick story, gajane. >> restaurants used to pay people to take it away, and now they're being paid to take it away. it is estimated that 25 million gallons of this is stolen a year. >> kevin miller looks at surveillance fid owe of grease being stolen from his restaurant. he used to get paid $25 for it now he gets $160. and the company he sales it to says they lost $600,000 in grease last year. >> i was in disbelief at first. it's not very atizing and does

not smell very good. >> californiaing a officials released this video and funded a crack down effort, a different bailout for greece. costs are down, and the owner of a grease recycling company says the theft rate is directly tied to the price of crude oil. >> a lot of people have modified their engines to run on used vegetable oil, and they will go into the back of restaurants and steal their grease and use it as free diesel fuel. >> and there is even is grease stock plate. darling is a publicly traded company expecting to see drops, but the prices have been raised this year. >> my father works for a

competitor of darling, he is not in the rendering business, but this big business, he said these guys that you show in their video, they can steal it in minutes. it's a history of people rigging their trucks with these pumps. >> they cut the bolts on these things, they get in and out and suck it out in a minute, and they're able to fence it somewhere. >> biofuel companies. they know where they're getting it, but that's who their selling it to. jane, thank you very much. >> my oven is full of grease, maybe they will come take it away from me. >> get your kids to tote it down to the local rendering company. >> the real face of road rage,

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