now it's quicker and easier for you to start your business, protect your family, and launch your dreams. at legalzoom.com we put the law on your side. on this 13th anniversary of the 9/11 attacks, we look at the world today, new problems, but also new opportunities. hi, everybody. our guests bring you investment ideas in a still unstable world. we'll also talk about how new regulations on small business may be costing you a job or a pay raise. and why exactly are we so happy with low $90 a barrel oil,

mandy? >> it's a mystery. well, the s&p 500 is now down for the sixth time in the past eight sessions. but put that in perspective for you. it is still only about 1% below its record intraday high. nonetheless, what's been the drag, dom? >> let's talk about it, mandy. if you look at the overall the s&p has traded, only about a percent off of its record highs, put we've had three different distinct pullbacks in the s&p 500, but they've only been 3% to 4% to the downside. if you focus on just the last part of this chart right here, the end, that's where we're rolling over a little bit. this may be, again, may be the beginnings of a slight pullback. but again, one that's been bought every time so far this year. but there is one sector in particular with the s&p only down 1% over the past 2, 2 1/2 weeks, one sector has been down by 4 times that amount. and that's the energy sector. you can see here just since the beginning of september, the s&p 500 energy sector is by far the worst performing sector in the s&p 500, down, again, by about

4%. there are three names that have had had outsized moves to the downside in this sector since that time. first of all, newfield exploration is down 13%. this is a domestic oil and gas exploration and production company. so the price of oil, that's a big deal. also nabors industry, a rig services company, they're down about 11% in that time. and then another domestic-oriented oil and gas exploration and production company, this is qep resources, down by 10%. so if you look at the energy sector, if you want to know where the real drag is on the overall market right now, you've got to look at what's happening with that energy sector, guys. brian, back over to you. >> we're going to do that right now, dom. thank you very much, buddy. oil hanging around the $90 a barrel range, $91, 92 bucks, whatever. even oil adjusted, oil is still 60% higher than ten years ago. where are the opportunity, though? omar is portfolio manager with his own company and darin

shringer is founder and ceo. i know we're down off the highs, but we were at 40 or 50 bucks a barrel ten years ago. you adjust that for inflation. we should be around $65. we're not. okay. somebody's making money. let's talk about pix lamar. tell us why you like sanchez. not mark, the energy firm. >> we like sanchez for a number of reasons. you know, first of all, we like the management team. these guys have done a good job. last summer they bought -- sorry, earlier this summer, they bought -- paid $500 million for 100,000 acres in the eagleford shale. the bulk of their operations are there which we think is a great place to be. and they've also got upside with their holdings in the tuscaloosa marine shale where they're not as focused. >> darin, what do you think about some of the shale plays? if you take a look at what names like whiting petroleum and diamondback energy, as crude has been dropping, they've been dropping as well.

it's obviously very expensive to di drill. do you see buying opportunities among these shale plays that have moved down? >> absolutely. i think the energy revolution is here to stay. the question for investors who can't stomach this volatility, crude oil down 15%, they really want to find a play that's not coupled or tied to the price of commodity because it's very difficult to predict oil prices or natural gas prices. so we like companies like emerge energy services. it's an mlp. it's, again, not coupled to commodity prices. in this case it's a frac producer so it fits right into shale plays. you need 10 to 15 more times for horizontal drilling. and it's just a great fundamental story. the company started with 3.8 million tons of capacity to produce this frac sand. they added 5 million mortons per annum. that's going to take their distributable cash, which is the cash investors get and double it from 2014 to 2015 and maybe overdouble it. they're adding now another 2 1/2

million tons. so it's just a growth story. and we find these stories all the time when we're looking at shale plays. companies that are in the right place at the right time and represent wonderful values for investors without commodity exposure. >> darren, here's the problem. and i hope that you're right about the energy boom, but having been to midland and williston, the more we produce theoretically the lower prices go. a lot of these producers are at 70 bucks a barrel as a break-even point. the more they produce, lower prices go, the harder it is for them to make money. isn't there some sort of peak shale where we can maximize production and profitability, but you can't do both? >> no. and brian, i think it's a good point. a global driver is going to be cheap energy. i think energy's range bound going forward. now, to your example, below 70, who's going to be producing below 60 below your costs you're not going to be producing. right now in the u.s. global -- oil is still a global commodity. so investors are looking at pricing in on a global basis. not just the u.s. the u.s. is still in that

importer of oil. we're replacing demand from the middle east, from west africa, relatively hostile demand for safe -- you know, i like to call it fortress america, supply of our own energy. we're truly energy independent because we're not contingent or reliant upon the rest of the world for our oil or natural gas production. >> he set up my next question perfectly. he mentioned williston. this is a company that's based there, oasis petroleum. >> that's right. and to that point, the economics of these things are becoming very important. so we like oasis petroleum. and one of the reasons we really like it is they've done a good job of putting together their -- all their drilling is in a pretty tight band in the williston -- they're in both the three forks as well as the bachen. and they're able to get their costs down significantly. in fact, their payback is almost a little over a year, they're able to get payback on a well. they're getting 80% returns on new drills. so we think it's important to really focus not just on where they are and what they're doing, but on how they're doing it and

saving money. because, you know, in order to make money, you've got to save money and have good profits. >> guys, lamar, darren, it was a great discussion. some good picks. we're watching. we've got our eyes on you guys. >> thank you. well, it wasn't a real stretch to find today's sunshine stock. that name coming your way. plus the one overseas market that is in serious need of instead of hopium, that's call it hopaium. that's a hint. we're back after this. bulldog: quarterback takes the snap...

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a much needed boost for a stock. it's ti >> we're counting down to the next big fed decision which also happens to be straight up during this hour. 2:00 eastern time. >> you mean it's on "street signs." >> 2:00 eastern. >> 12:30 mountain time. you're looking at a new metric on jobs from the feds. a couple months old. tell us what it is. >> actually, not really. let me explain. >> may. >> no. it just came out. i'll explain why. why you may think. in jackson hole, janet yellen says we have all these big market indicators out there. how do we factor them into our policy-making? what if there was a single indicator out there? well, turned out they were working on just such a single indicator at the kansas city fed

which brings together 24 different indicators into a single one. it's called the labor market conditions index. and you name your favorite labor market indicator and i'll tell you if it's in there. >> my favorite labor market indicator? >> participation rate. >> yay! >> jobless claims, it's in there. a whole bunch of stuff. it's all in there. what's it doing? let me show you the chart. i'll give you an idea. and then talk about how it may relate to fed policy. so it's up 0.8, which is a pretty decent rise. the blue line is the activity, is the level. now, brian, when you look at that chart, what do you see? where is it now? >> besides the seahawks colors? >> where is it now relative to say, for example, the '01 recession? >> well, it's much better. >> well, no, the blue line? >> the green or the blue? which one are we looking at? >> the blue line's the level. >> it's worse than '01. i thought we were looking at the line in green. >> that's the key right there. we've climbed our way up from the bottom. we're still not at where we are at the bottom of the last

recession. the green line is the momentum indicator. so we're getting there fast. and very strong momentum in the labor market from all the indicators. but the level is still very low. >> i fell like i'm seeing double. just try and make it -- make it more simple for us in terms of what does it mean for fed policy. >> so what it mean -- >> what are they going to do? >> i want to show you two different ways to look at this. where is the fed fund's rate relative to this indicator? you could look at it on an unadjusted inflation rate. it shows that the fed is way behind the curve. that's the first chart if we have it in the back. maybe we don't. it shows there's a big gap. >> imagine. if they're doing this already. in their mind. >> if you look at where we are on an inflation afus , then it be much lower. there we go. there's the first one and then the second one. >> two things that i fear. number one, be eaten by red ants. number two is too much data from

the fed. why do we need yet another indicator? >> i think this is a way to try to help policymakers understand a whole bunch of things that are coming in. there's this big debate out there -- and the debate is between the level and the change. the containing is strong, the level is low. what does that mean for policy? it means you're probably okay running the current rate the way it is, but watch the change and watch the momentum. it could get you there quicker than you think. >> no such thing as too much data. no such thing as too much kpukz. >> especially one that brings together other things. >> there's way such a thing as too much data and certainly too much communication. >> did you note my sarcasm? >> we need more sarcasm. >> no such thing as too much sarcasm. >> we're already 30 seconds overdue, which is this. and this is bad news for financial media, i guess. does this mean that the all-important monthly payroll report is less important because it's just one facet of now this new thing which apparently will be looked at? >> that's a great question. and i think in the context of a

fed that's looking at labor slack, i think it has been less important because you want to know not just what the change is, but how many millions of americans are out there who could do more work, who are on the sidelines, don't count themselves available for work. that number's been a big part of janet yellen's policy. she's maintained it's very high. she's maintained it will keep a lid on inflation. and this number helps illustrate that. >> thank you very much for introducing us to this new piece of data. >> i bet you can't wait till next month. >> i really can't. thank you, steve. one week from today, the scots go to the polls to decide whether to leave the united kingdom and become independent. well, at least two of britain's biggest banks are not taking this lightly. let's bring in cnbc's chief international correspondent michelle caruso-cabrera. what is your take on all of this? >> i think it's not surprising when we hear the royal bank of scotland of all things announce they're not going necessarily be in scotland and lloyd's bank also saying that if the scots vote for independence, they'll have to redomicile over to

england because they want to make sure that they have a lender of last resort that they can bank on, quite literally, which would be the bank of england. and additionally, they want to know the regulatory tram woframs going to be. they're doing it for the shareholders, for depositors as well. so those are the two big announcements. this comes on top of also british petroleum and shell discouraging the scots for voting for independence, suggesting that there isn't as much oil in the north sea as they have been told by the yes campaign, which has been one of the big pushes by those who support independence. >> there's a lot of fearmongering out there. and maybe you can sort of separate fact from fiction here. for example, you have major retailers like supermarket operator asda coming out and saying guys, if you go independent, you'll have to face much higher costs. when you go to the grocery store, you'll pay more than you used to do. how much of this is real? >> i think to some degree, that is real. because one of -- if you are part of the united kingdom and you have the british pound already in place, there's a lot -- there's no, you know, resistance when it comes to

transactions. now you're going to have a different set of transaction fees, et cetera. pricing is absolutely going to be different. i mean, in a different scenario, the prices could be lower theoretically. absolutely, they'll have a separate economy. so those ripple effects could definitely be there. >> all right, michelle, thank you very much. by the way, stick around for this because we know you've been there. and this is just a mind-blowing survey. take a look at this. although you probably can't see it in that windowless studio where you are. this is a pew survey that we found asking people around the world, all different countries, about their economic situation. do you think that we're negative here in america? 97% of those surveyed in greece say that things are looking bad for their economy. italy, ukraine, spain, not far behind. psychology, michelle, i don't need to remind you is an important, maybe the most important aspect of any real economic recovery. >> for sure. >> this does not bode well for our friends in athens. >> no, no.

and i'm surprised it's not 100%. >> that would be all the percent. >> brian. the economy is very bad. they've lost 25% of gdp. youth unemployment is way beyond 50%. so things are still quite bad there. they've made improvements when it comes to their primary budget. in other words, the government is spending less. but they still haven't done a lot of things to their economy to make it better. those numbers that you showed us is exactly why a guy named alexis seeprist, remember when he rose to prominence and the international markets went crazy? he's growing more and more in popularity. i spoke with him most recently last weekend. he's basically an arch leftist. you'd almost call him a communist. he wants to redo the entire greek economy back to ways that modern economists say would actually be quite painful for that country. however, because he's promising so many things, he's really become increasingly popular. it's quite possible he could be the next prime minister. so he is emblematic of what

happens when numbers like that start to rise when people are so unhappy with their situation. extremist positions can start to really come to prominence. not just the ultraleft like he is but also the ultra right like we've seen in france, for example. >> all right, michelle, thank you very much. appreciate it. well, today we are marking the 13th anniversary of the september 11th, 2001, attacks. and so is cantor fitzgerald. they have over the last decade or so dedicated this day to charity. mary thompson is at cantor on their trading floor with a very special guest right now. i'm going to let it go to you, mary. >> thank you very much, brian. i am with someone who needs no introduction to anyone who's a broadway fanatic, the tony award-winning idina menzel. thank you for joining us. >> thanks for having me. >> you are raising money for a specific charity, one that is very near and dear to your heart. why don't you tell us about it. >> well, it's the fred glabler

helping hand fund. they're very dear friends of mine. mindy gabler actually helped -- she's helped sort of mentor me and my own foundation when we send little girls to inner city girls up to camp. and she's just a dear friend. and anything to commemorate the loss of her husband and all those people that we lost back then. i'm just happy to be here. >> mr. gabler actually worked for cantor fitzgerald. a very close tie here. let's talk about what you're doing now. you are currently starring on broadway. "if then." >> yes. >> how long will you be in the show? >> i'm not sure. for a while. we're doing good. >> reporter: "let it go." let's talk about this. tell us why it's something that resonates so much with little kids. >> you know, that's one of those inexplicable things, i'm not quite sure. i'm sure it has something to do with accepting that thing that makes us unique in the world and all that kind of stuff in the world that you probably don't talk about a lot on this

channel. >> reporter: yeah, but it's no is to hear. idina, thank you for joining us. good luck raising money. zloo thank you so mu >> thank you so much. >> reporter: long island's own idina menzel. jobs and education. first, the real reason why main street is not creating more jobs. and then the real truth about the future of higher education. "street signs" right back.

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the stock battle of the day is that company right there, which is 21 via fet, basically an internet carrier in china. the stock is getting crushed but there is some defense on wall street. there was a short seller out on a blog saying the company overstates revenue. there's some material mistakes to their accounting. stock's getting crushed. morgan stanley among others is trying to defend the name saying they talked to management. they feel reassured. can you see investors are not reassured. it's down about 17% right now. but there is some, mandy, analysts trying to defend this chinese internet name. >> just over the past week, down nearly 40%. a report out this week on

small business shows rising concerns over the future of the jobs market. the newest face to cnbc's all-star roster of reporters, kate rogers, joins us what she's hearing from business owners. welcome to cnbc. >> we've gotten disappointing data in the past few days. it showed job creation flat for the 11th month straight, and that's after last friday's jobs report ended six months to more than 200,000 jobs created. we wanted to see what was holding main street back. i spoke to business owners. first up here, we have obamacare. november 15th is d-day for open enrollment period. for 2015, this is really heavy on the minds of business owners, especially those on the cusp of that 100 full-time employee threshold. if they fail to comply, they'll have to pay 2,000 workers per year. next up, they're worried about the minimum wage debate. we all know president obama

wants it hikes from $7.25 an hour to $10.10 an our. the cbo says this will 900,000 people above the poverty line but it's also going to cost businesses 500,000 jobs. finally, the regulatory maze continues to grow. shall and must appear more than they did in 2007. regulations cost small companies $11,000 per worker per year to comply with according to the competitive enterprise institute. and what's more, businesses just are not feeling like things will improve much over the next six months. according to the nfib. >> okay, kate. come and join us here on set. >> sure. >> you know what my beef with all of this is, at any given time, right, brian, you can complain about something. businesses of any size could complain about something. there's always something to whine about, right? is it that much worse now? i mean, what is so different about now than in past situations? kate?

>> i think as we said, the regulatory maze continues to grow. and i think with open enrollment period arriving right now, business owners who offer their workers insurance and those who don't both really concerned. premiums are going up. and if they don't comply with the law, they're going to have these hefty fees to comply with. and it's really just a big scary thing for them. holding back hiring. >> and part of the problem as we talked about with a book a read is that laws and regulations never go away. there's just new ones added on. so because they don't eliminate bad law or old law like don't tie your horse to this rack on the street, right, no one cares, but the law is still on the books. this says only going to go up. >> that's absolutely true. and licensing regulations at the state level are up to 30% now. if you look back to 1950, they were on at about 5%. so things like teeth whitening, spas with getting shut down. >> hair braiding. there's more hair regulations needed to become a hair braider in new jersey than a truck driver. >> you have to spend more than 3,000 hours learning how to

braid hair in some states to get licenses. so people say that these just create huge barriers to entry and really discourage competition. >> very good point. excellent reporting. thank you very much for joining us. >> thank you. >> debut. we're talking comfy beds and comfy shoes. "street talk" is on deck. plus why is herb greenberg so angry at radio shack? he's here to tell us as the company teeters on bankruptcy. he's here to join us when "street signs" returns. the cnbc "real-time exchange market snapshot" is sponsored by interactive brokers. when fixed income experts work with equity experts who work with regional experts that's when expertise happens. mfs. because there is no expertise without collaboration.

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stock. they like the fundamentals. new high today for marriott. >> stock number two. this is a tulsa. based energy and exploration company. >> yep. august research loves the other hp. that's their ticker. they upped it to a buy. they think the underperformance recently of the stock, a nice entry point. their target on hp, 1.24. >> stock number three. getting an upgrade. >> jup 2.3%. exactly 3 bucks. jpmorgan raising it. they boosted their target to 1.43. stock's at 1.3375. you do the math. >> next stop, a big drop for crocs. as you can see, the stock is down by about 7%. >> it's kind of a weird call by buckingham research. they cut it from a neutral to buy. they dropped the target to 13. it's at 14 and change. why not just say sell? crocs is a nearly $70 stock

seven years ago. and lastly, your under-the-radar stock of the day. >> yeah, aaww is the ticker. it's westchester county, new york, based air freight company. up 7.3%. fbr capital markets upping it to outperform from market perform target. stock's down over the past year. moving along, radio shack reporting second quarter earnings this morning. and folks, the picture is not pretty. 20% drop in same-store sales revenue. down nearly 22%. and only $30.5 million of cash on hand. but guess what you will not find in today's earnings release? a hint. it's a word that starts with the letter "b." here to tell us more, cnbc contributor herb greenberg. i'm sure you're very smart boy, herby. what begins with the letter "b"? >> debatable. >> that begins with "b." >> i think it's called bankruptcy. look, i think what got me -- i sat down here, i'm here at 4:00 in the morning, west coast time.

this press release comes out. i look over, i see that the stock is up 18% on the news. what news? what did they say? people were joking about it on twitter. radio shack is back. that kind of thing. and i look and the press release has -- you know, they use the words recapitalization. they talk about trying to maximize shareholder for stakeholders. that's actually an important hitch right there. they didn't say stockholders, they said stakeholders. you look at this thing and then you go over to the filings and sometimes company file 10qs along with earnings releases. there was radio shack. what did it say? possibility of chap hter 11 bankruptcy. possibility of chapter 7 liquidation if they can't get to the chapter 11. the point is this. they should have just put this in the press release. it might be a minor detail to many people. but i think for someone looking at this who's a general investor, who might not look at the s.e.c. filings, just get it all out there. you know, i don't know what they

were thinking when they tried to put that. >> you know what else was missing from that earnings report? it starts with letter "e." earnings. it was only losses and there have been for quarters. the other thing, to your point, and it was a good one, stake holder, right? that's a term of art. if you think your stock, your shares may go away, you're talking now to the creditors. that's a term of art that you learn in bankruptcy law. stake. you've got to watch. that's a buzzword in press releases, folks. >> exactly. and at that point, they should have just put it all out there for everybody to see. but don't worry, on their earnings call, not really a call, it's their commentary, they did say -- and this is the great news -- they're going to have a robust black friday. i bet they're going to have a robust black friday. everything in the place is probably going to be for sale. >> okay. herbie, do not go far. more work for you to do in just a moment's time. just hold it. hold that camera. meantime, forget campuses. many now say the future of

college is online. but is that a reality, or is it just a pipe dream that is pushed by those with a vested interest in moving everything online? plus, would you eat this? we're going to explain what gives burger king's newest menu item its unique look. >> that is disgusting. ♪ eenie. meenie. miney. go. more adventures await in the seven-passenger lexus gx. see your lexus dealer.

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welcome back to "street signs." well, two fast food stories to tell you about. first look at this. burger king's black burger in japan. otherwise known as the kura burger. it's painted black with charcoal, they have black pepper topped off with some very appetizing black cheese. i understand there are currently no plans to bring this menu item to the united states. no kidding. would you eat that? >> yep. >> i would try it, too. >> because somebody's going to make something that looks that disgusting, it must be good. it's a sullivan restaurant indicator. if it's over ten years old and looks like hell, still open, the food must be spectacular because there's no other reason to go there. >> i'm sure if you ate it with your eyes closed, it tasted

exactly the same. the only thing i'm worried about, isn't charcoal supposed to be carcinogenic? bamboo charcoal, i don't know, hopefully it's okay for you. >> in other food news, mcdonald's has applied for a trademark on the term mcbrunch. of course, you're all over the twitter thing. anyway, bill and kelly, what are you serving up on "closing bell"? >> well, we're going to talk about this mcbrunch concept. i mean, this is not the first time mcdonald's has applied for this trademark. they abandoned it after applying for it years ago. we all know that breakfast is the big growth area for the fast food industry. maybe they're looking to expand that time frame and maybe look for growth elsewhere. >> and extend those hours. and meanwhile, watching markets here as well as we're getting reports, guys, that the u.s. deficit may be on track for its lowest fiscal year performance since 2008. we've got markets here under pressure amid headlines about russia and ukraine potentially. and still some focus on u.s. interest rates. paul mccauley from pimco will

join us. we're also going to keep on the wearable tech theme with rebecca minkoff who has her own sort of jewelry-emphasized version of wearable tech. i think you'll be very interested. >> i would be. >> gold and chains. >> i'm into that. >> you're really into that, like a bling man. >> i am a bling man. >> just one word on the mcbrunch. i know you've guy a little theory. i believe there's speculation that it might be every single person who's got time for a long mimosa boozy brunch on a tuesday morning. >> i don't think they're talking about a brunch like we have on sunday, but i think they're ex-tending that lucrative breakfast time frame during the day. some people say why not just serve breakfast all day. >> i think some people love breakfast. some people actually eat breakfast when they wake up at 3:00 in the afternoon if they've had a big night out. the speculation is that it might only be on weekends. and holidays. >> some people. >> some people. >> is that you? >> the go-to breakfast. mcdonald's coffee and a plain

biscuit, speaking for yours truly. if they served that biscuit later in the day, i know i'd be in line. >> she's there. she's there. >> kelly evans, that's garbage. you're from lexington, virginia, if you're at the waffle house, then we're done. >> $2.16. >> it only took two minutes to get to the virginia thing again. there it is. >> don't be jealous, bill. don't be jealous of virginia. >> i'm fine. no virginia envy here. >> thank god we're a country, boy or girl. >> we need more australian anecdotes. >> it's about time for "closing bell," isn't it in. >> 20 minutes. top of the hour. >> looking forward to it. see you then. many people believe right now there is a bubble in higher education in this country. tuition prices are soaring and students are often left with huge debt and a degree that does not guarantee them a job. so what happens if and when this bubble bursts? sharon epperson is here with a cnbc 25 look into the future. what have you found in your crystal ball? >> well, mandy, there's growing

concern that the benefits of a college degree are declining while the costs rise. and as a result, some futurists say that in the next 25 years, we will witness the financial collapse of numerous private colleges and universities as education goes virtual and the digital campus may mean the end of the university as we know it. >> reporter: in 25 years, the higher education landscape may be unrecognizable. >> half out of the colleges and universities that now exist in the united states will cease to exist. >> reporter: technology responsible for the shift is already under way. as some of the nation's top universities including harvard and m.i.t. have started to open up their classes to the world for free. through massive open online courses known as muks. >> muk is a free education course offered online anywhere from hundreds of thousands of students can sign up for. >> reporter: the ability to receive a highly coveted elite

education for free will have significant implications. >> we hear local state universities going to be in direct competition with the most elite universities in the world. >> reporter: futurists say big-name universities with strong private endowments will be fine. low-cost community colleges will be okay, too. but those schools that are largely dependent on tuition will struggle and may not survive. >> the universities that are in trouble are those that are, if you will, stuck in the middle. is and we're seeing we call it the hollowing out of the middle. we're seeing this in industry after industry. those caught in between those two will either adapt or face the consequences. >> reporter: when the middle hollows out and mid-tier colleges and universities go out of business, many futurists say higher education will become much more personalized. >> you might take, you know, a law class from harvard. you might take an engineering class from purdue. you might take an economics class from m.i.t. and you have the option to sort of curate your own education.

>> reporter: it's not all doom and gloom. >> it's a positive story that represents, you know, a whole new level of access for students and opportunities for people who couldn't afford it otherwise. >> reporter: online courses like moocs are certainly already opening up opportunities for students all over the world to take all kinds of classes. but research has shown that many people taking those online courses today often don't complete them, mandy. brian. >> well, let's continue this discussion. shall we? because i've got a bit of a different take here. online learning, right, forgets one thing. the people part of college. the true meaningful deep emotional human experience kind of like this. >> there are a lot of great guys. so don't feel you have to meet everybody. we just want you to enjoy yourselves while you're here. >> let's bring in herb greenberg, reality check editor at the street. sharon sticking with us. all right. it's a good day when you can

throw in an "animal house" reference. listen, i agree with the business side of it. i just think that college is so much more about the people and experiences you have. yeah, there might be some, like, learning in there somewhere. >> well, there's the networking is another big part of it. >> that's it. >> how many of us years later are referring back to people we met in college? but i think sharon's piece has -- makes actually a great point because this mooc is rolling out except right now some of the studies would share -- sharon referred to this -- i think it was, like, 10% complete these courses. the dropout rate is huge. and i think the other side of it is employers still are going to want to harken back to somebody who had a physical education which gets to another part of this, i think. and that is where the real online growth could also be certainly sooner, and we've seen it in the for-profits where they actually may have had some impact isn't for the person trying to get their first job, but for the person who's trying to move up in an organization,

say, post-secondary education. you can go do an online mba. not as good as, but you can still get the information. and that's also important. you still learn online. it's just not quite the same, perhaps, as, you know, going to the physical class, interacting with an instructor. >> and that's what we're starting to see. i was talking this morning to the ceo of udacity. of course, they're looking at partnering with universities like georgia tech to offer an online master's degree, but it is in computer science. so where we're seeing a lot of these companies that are working with some of the college and universities and also corporations is they're focusing on vocational training. they're focusing on some type of special skill to get people to the next level. but i agree with you, brian. i agree with herb that we need to see people engaging in the classroom for many other disciplines. i've been teaching a graduate course at columbia tore ten yeayear for ten years. if they're not networking with one another, they're not getting the true benefits of that class. >> sharon, one other thing. cheating.

you know, unless the courses are actually -- the tests are actually in a physical structure, you get into the issue of who helped who on what. you still can have it with papers and things like that, which you could have physical or online. but i think for the exams. you know, how do you know who's helping somebody with a test? >> much more difficult to avoid the issue of cheating. that's the other thing, and i know herb kind of alluded to it, but sharon, to what degree has the stigma of an online degree changed over time? it used to have a big stigma attached to it. >> it did but no more. a lot of folks are doing at least part of their education online. and whether that's in one course, where part of the course is taught online and part of it's in the classroom or they're sampling online courses while also taking courses you full time or doing that as a way to get prepared to get into a degree program. but it definitely does not have the same type of stigma that's it had in the past. >> you don't get pushed as hard. it takes a lot of self-discipline. >> i think that's why those

statistics currently show that people are not completing those courses. because they dabble in it, then they realize to actually finish this out, it's going to take a lot of work. and they may not be committed or maybe they don't need to finish that class for the particular degree so they're not doing it. but we'll see as this kind of evolves. we're talking about 25 years from now, it could be far different. >> personally i would need a professor breathing down my neck. and then it would be the night before. all through the night. sharon and herb, thank you so much for joining us. >> professor breathing down your neck. and here's to you, mrs. robinson. all right. new jersey has a financial mess on its hands. is sports betting really going to help dig the state out of its huge financial hole? we're going to talk more about that. plus, we have a trivia question, right? what four states have legal sports betting? i had no idea. >> you can tweet us @sullycnbc, @mandycnbc.

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public enmonth i yes pension obligation and optimistic revenue pro-dictions they just didn't come true and perhaps worst of all, s & p says the state's elected leaders don't have a consensus on how to fix the problems. brian? >> one thing newier is he is willing to try to raise revenue is sports betting. one horse racing track in new jersey plans to begin taking sports bets as early as the end of the month much the question is will it help? joining us, co-founder of mat win capital and former bankruptcy attorney. new face to cnbc. you live by the track. sports gambling besides the four states i assume we will goet to the answer to later son a federal ban. new jersey can't on its own legalize it, right? they are just saying they are going to decriminalize it. isn't there a difference? >> absolutely. if you are a try and tried business owner would you go on the risk that potentially some federal sanctions could be leveled against you, even though

on the state level they told you you are in the clear? therefore, i don't expect any large investments, very large business to go ahead and banked on this allow sports gambling immediately? >> what about a small investment? what potential revenue/economic benefit does we see from this? >> there could be some good benefits. las vegas is most well known for their sports betting and if new jersey were to be able to recreate part of that in the state of new jersey that would be great, make up for some of the losses they have received on the gambling side from what's been going on down in atlantic city that would help stem the tide of losses that they are having but i don't think it's panacea by any stretch of the imagination, even if they were to recreate what happens in vehicle gas. >> let's talk about what happens in vega, the stuff that doesn't stay in vega, you drop a sports bet in vegas, with your boys, buddies. >> girls can go there, too, lots of bachelorette parties go there. >> sports gamble? >> sure why not? >> of course. of course. what is the last sports bet you

laid down? >> the trots back in sydney circa in 1996. >> whoever's doing it, a horse might come in to bet, has to be other stuff to do you hang out. new jersey, you got stuff to do there. is it enough? >> i think there's a much more -- >> buddies. >> like i said earlier, even able to recreate what is going on in las vegas say a $3 billion sports gaming revenue, new jersey lost almost that much on gambling revenue, essentially, the proposition has to be that they have to make a huge push into sports betting and federally banned, we have a problem there if new jersey figures out a way around it, what is to say every state won't do that? the reason gaming is doing so poorly in new jersey, other than the state of atlantic city generally, a ton of competition from maryland, from pennsylvania, from new york, the same thing happened in sports betting and so therefore, this

isn't a is the would the tomorrow line. i think the rating agencies know that. i think the politicians are concerned about that. and they have really got to figure out a real way to go ahead and insulate and bolster the state of new jersey, this is not it. >> what do you think is going to happen to atlantic city? already struggling, right? now new jersey considering taking away exclusivity, the final nail in the coffin here? >> very concerned. take ai want exclusivity the death knell of atlantic city. i don't know what chris christie is willing to do. >> okay. i wish i did, if the tradeoff give you sports betting if you give await exclusivity on gaming york know if that's fair trade, i think they need to retain the gaming if you want to retain solvency. >> 12 or 13 casinos within a two-hour drive of atlantic city the revel got sold. >> lost four casinos in a short period of time. the velocity of what's going on

down there is fast. we have never seen any such industry devolve so quickly. >> you are a smart guy, know the answer to the question we gave viewers before the break, the four states that legalize sports gambling? >> we also threw it up on the screen. >> we did? >> hard for radio listeners, good for the people who may be watching tv. >> are a he had it off, i don't know. here we got it >> montana. oregon, nevada. which is obvious and delaware. i had no idea. now, new jersey, again, folks take new jer off, no the legal, just going to be decriminalized. a big difference. >> huge difference. by the way, this was a huge surprise. chris christie it doesn't seem like anyone consulted with the major sporting outfit, the nba, the nfl. >> which fought against it, by the way, the nfl. >> they may all have problems with this and they haven't weighed in yet. >> what has the nfl done right lately? don't answer that. >> rhetorical question? very quick look at what the markets are up to before we leave you guys and pass you a you have to closing bell. the boards here, s & p slightly

to the downside, okay, what, we have done down six out of last eight sessions but less than a percent away from the record intraday highs, so very lofty level, don't be deceived by the red on the screen there, 17,031 for the dow as well. >> probably wondering what the worst stock of the week is for the s and pp 500, tesoro, tso, crude oil prices lower means good news at the gas pump, bad news for refiners, tesoro the worst, want to be the best so far this week, tenet health care, thc. thanks for watching street signs. >> closing bell and the mcbrunch, coming up next. stay tuned. being a keen observer of the world has gotten you far, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you

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the legacy of usaa auto insurance could be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. welcome to the "closing bell", i'm kelly evans at the new york stock exchange. >> i'm bill griffeth. stocks spending most of this day in the red so far, we are well off the lows of the session, the dow was down 84 points at the low, down 34 points right now, as a matter of fact. >> we are gonna get reaction to this market and how the economy is doing with pimco's managing director, paul mccully in a little bit. he is looking at and listening to the fed and he says what janet yellen is saying is more important than what the fed