greetings, welcome to "on the money." i'm bill griffeth in this week for becky quick. the boys of summer may not be getting older. but the people watching them sure are. we'll talk the future of baseball and the billions at stake. a growing threat to business. how to keep workers safe in danger zones overseas. and how that's a huge business here in the united states. >> get down, get down. >> entrepreneurs learning to share and how it can pay off in both the long and the short run. and the safest place to stash your cash. do you need a brick and mortar bank? and how to find the best interest rates for your savings. "on the money" starts right now.

>> this is on the money. >> baseball clearly is your big. with big money at stake. and the game's 86th annual all-star game takes place this tuesday night in cincinnati. we thought we would take a look at whether the summer game is on text for continued growth. that's our cover story. let's bring in professor ken sh rockshier from the wharton school and "washington post" senior editor mark fisher. good to see you both. thank you for joining us today. baseball revenues are at an all-time high. we should point out the viewers, the demographics watching are among the old nest major sports. can those two things continue to coexist? >> probably not. baseball is in great shape economical economically. revenues are at an all-time high in and tans. but if you look at who's watching those games on tv as in the stands on tv the average age of a viewer is over 55.

that's a good deal more than football and well more than the nba. the baseball commissioner realizes it's a problem baseball needs to aggress. >> why aren't more kids playing baseball these days? is it just a cool factor or what's going on? >> certainly a lot of it. but think about the way it's presented to us. the old style is transitioning into what's new. i tend to differ about what people are thinking. i think baseball is going to capture the youth audience with the use of technology. that other sports aren't into. that other sports aren't captured the same way. it's a transition period now. certainly the sport is more designed for radio than tv. but i think the idea of this apps and the other things they have going on is going make a difference in the way the sport is perceived. >> mark, baseball has the same problem golf does. my beloved golf, it takes too long and it's too slow. but the rule would change that to speed up the game and have

shortened the game by about eight minutes. will that help attract kids as well? >> i don't think it will, the leaders seem to believe that the pace of the game is the central issue and it isn't. what baseball is suffering from is the fact that fewer kids are playing baseball and it is more dependent than any other major sport on that follow-through from playing as a kid to being a fan as an adult. what is happening is a social issue that baseball could have a hard time fixing because it's a larger societal question. baseball is taught father to son, generally. unlike the other sport that tend to be taught by coaches and teachers. if you don't have the two parent families that are very much in decline in this society, you have fewer fathers and sons playing catch, which leads to fewer kids playing the game. there is a problem with kids thinking that baseball is a sport where nothing happens. where they stand in the outfield waiting for a long time. so there is less action, and so there is less action, and that is out of step with today's

society. but it is not just a base of game issue. >> and ken, unlike other major sports, unless maybe you're talking about golf, baseball is very steeped in tradition. it values nostalgia, it links generations. is it too much in the past and not enough in today's america? >> i mean you could look at baseball's leadership now. very top levels of the sport. if you compare that with the nfl or the nba, there are diverse people at the very highest levels. that's not the case in baseball. baseball needs to get on top of that in a way that it hasn't. >> i was struck when you said men teaching their sons to play baseball. we're very attuned to women in sports these days. we saw record ratings for women's world cup the last week and soccer, that's clearly becoming a global sport. can baseball grow more around the world and attract women at the same time. what do you think? >> yes, absolutely. in fact, softball is quite popular, both as a television sport, increasingly, and for players, as well.

women are playing baseball itself. it's a growth sport among women, and it's a growth sport in certain parts of the world in korea and japan and so on. but the issue for baseball at home is the central one. it is a game whose culture says don't take a lot of credit. don't showboat when you have achievements on the field, and that is out of step with the self-celebratory kind of culture that we live in in sports today. >> what do you think is the future of america's pastime as we called it all these years? the business of baseball, is it in trouble or not? >> it's a transition period, as i said. i think this new commissioner hasn't shown us fully what he's going to do to address it. one of his number one priorities is the youth initiative. in any business you have to think about your future markets. in the long run, baseball is going to keep with us. baseball is not going to become extinct in any kind of way. but the diversity issue is more key than any teams recognize.

>> ken, mark, good to see you both. thank you for joining us today. now here is a look at what is making news as we head into a new week "on the money." the new york stock exchange came to a screeching halt for several hours. all trading at the new york stock exchange was stopped for more than three hours after what was described as a software glitch during an upgrade on wednesday. but there was little panic and trades did continue on ten other exchanges where it could be executed. so it was smooth sailing as we headed into the latter part of the week. the glitch was part of the reason for the dow that fell more than 260 points on wednesday. there was worries about greece, as usual. china, as well contributed to that sell-off. stocks recovered a bit later in the week and continued to rise on friday. earnings kicked off with this week with aluminum giant alcoa missing estimates partly because of falling commodity prices. pepsi came in ahead of expectations. the next time you go to

starbucks you might end up with a grande hole in your wallet. prices went up by 5 to 20 cents this week. the reason, higher expenses. although several other companies have recently lowered their coffee prices. up next we're "on the money," staying safe abroad. why that's a big problem for some american workers. and big business for some american companies. >> later, entrepreneurs learning to share, but not what you might think. and as we go to the break, a look at how the stock market ended the week. music: "thunder clatter" by wild cub ♪ ♪ ♪ most weekends only last a couple of days. some last a lifetime.

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the business of the business of kidnapping, ransom and extortion is a multibillion dollar industry predicated on fear, risk, and hope. the number of kidnappings is on

the rise these days, especially in latin america, the middle east, and in africa. and believe it or not, it's causing a boom in business for some companies in the u.s. dina gusovsky has more. >> bill, imagine driving up to a building somewhere in the mountains, hearing gunshots, being dragged out of a car, blindfolded and told that you were being taken hostage and it's actually something you signed up for. that's exactly what some companies in the business of helping you survive kidnapping and ransom are doing. take a look. >> get down, get down. >> it may look like a scene out of a movie, but the threat of kidnapping, ransom, and extortion is real. there are companies who make it their business to make sure if it happens, you get out alive. i went through one of their kidnapping training sessions. >> so we give them a little taste of what it might be like, and they will take those lessons forward if it happens for he'll.

it needs to be quick, violent, without causing too much damage to you as individuals. >> with terror organizations, like isis, boko haram and the haqqani network -- >> business has increased massively. people want to be protected. we nineish yated what's known as the shock of capture. that is a rapid, violent action. lots of noise. lots of chaos. >> from checkpoints like this. >> this looks expired. >> who is in the car? >> i have a lady here from cnbc. >> to a kidnapping situation. being taken hostage, interg gated. >> who do you work for? >> cnbc? >> doing what? >> journalist. >> you report back to the cia. no, we don't work with the cia. >> don't you lie to me! >> and finally the rescue. >> the rescue is one of the most dangerous times for the hostage. >> and what about the smoke? >> the smoke is deployed to side the movements and the actions of the rescuing force. we put fake pots in the ground, people stand on them, don't know what's going on. >> in a war zone, one false step and this could happen. >> so you're essentially using the same tools as the u.s.

military and the british army would? >> yes. >> but all this will cost you. >> it's a two-day course preceded by some e-learning and it is around $2500 per person. >> there is a growing need for companies like this. though most kidnappings go unreported the estimated number is about 50,000 to 85,000 per year. with estimated annual ransom payments upwards of $2 billion. >> employees need to be safe. their employers and the companies want their workers to be able to live and work and operate in these countries. >> and that's why companies like this don't have to worry blozing business any time soon. >> now these training courses are just the beginning of the web of companies involved in the big business of kidnapping, ransom, and extortion. >> that must have been unsettling for you to go through that process. >> it was unnerving. i knew it was going to happen, but the first instinct is always just to resist. >> what are the businesses we're talking about here? >> you have a big company, a multinational corporation or a nongovernmental insurance. they hire a hostage broker.

that broker goes and looks for the best kidnapping and ransom insurance policies. these run companies from hundreds to tens of thousands of dollars per year. that insurer usually hires or has on retainer a crisis response firm. these firms charge up to $3500 a day. it's interesting because the average ransom payment is about $50,000 to $100,000. so what ends up happening is the victim's families or she's insurers end up paying the response consultants much more money than the actual ransom is worth. >> wow. fascinating. what a business. >> what a business, right? but unfortunately there is a need for it and it is growing. >> that is for sure. great job. >> up next we're "on the money." sun, sand, and desks? the jersey shore is known for its beaches, but now it's home to a budding tech scene and a sharing economy that's giving young pren you'res a room with a view. and later the best places for your savings. where to get the best rates, and whether online is better than the corner bank.

by by 2020 an estimated 65 million americans will be freelancers, or solo entrepreneurs, if you prefer. that's a lot of alone time for a lot of people. but now there's a growing business to address that issue. it's called shared offices or coworking spaces. it gives independent contractors an option for low cost desk space, conference rooms and interaction with other people as well.

we visited coworks in new jersey where the growing tech scene is part of a new wave of business. >> coworking is a shared collaborative work space. we provide desk access in a community for entrepreneurs, small businesses, start-ups, mostly technology focused. >> in 2010, brett and i really liked the idea of coworking. we had another business of ours, and we didn't like just working on our own, and we were looking for a coworking space and there wasn't one in new jersey. we decided we needed to start one. >> $20 a day gets you a drop-in. we have five and ten packs if you want to come in once a week or twice a week. although we have full-time members we also do a lot of workshops and classes. mostly focused toward small business. >> the real thing that makes us

different from just going out and renting your own office is the ability to scale up and scale down as your needs change without getting into a five or ten-year lease. >> one of the things that differentiates office space from coworking space is the community. >> quite a few people started businesses together. >> we were recently awarded $240,000 from the new jersey economic development authority and what we're doing is expanding from 1600 square feet to 8500 square feet over two locations. and really our focus is going to be to provide workspaces for budding entrepreneurs here in asbury park. >> great story, isn't it? >> joining us to talk more about the shared office space movement, two founders of different coworking spaces. greg is the president of mission 50 in hoboken, new jersey and benjamin is co-founder of grind, which has locations in new york and chicago. good to see you both. really taking advantage of an opportunity. but coworking has been around, benjamin, since the '90s.

why has it really taken off here in the last five years or so? >> a lot of it has to do with the advance of technology and the fact that your laptop is now your office. and the -- and how that has spread throughout our society. it has given people the opportunity to sort of follow their dreams, and chase their passion. and what greg and i do is provide them a place to do that. >> you can be more efficient because of technology and all that. what is your version of what the benefits are of a coworking space as opposed to working at home. >> you know, i think at home you have the distractions of home. you know, you wake up, you don't get dressed. you know, there's no shower. you pop yourself on the couch, you got espn on the background, and all of a sudden you realize you're not working. so he think, you know, you work better in a productive environment. and that's what we offer. >> you come from a real estate background, how does this compare with traditional office space? >> interesting.

i have a boutique office building about 80,000 square feet, and we ended up over a ten-year period seeing mobile technology start shifting the demands of office space. so a traditional user would need filing space, they would have a server room, all these things are either hosted in the cloud, and people just don't needs same requirements. that they once did before. >> right. benjamin, you require membership at grind. tell me how that works. who are the typical members that would be part of the coworking space? >> typical members of grind come from all walks of life. all industries. one thing about collaboration that is, really what we do, is it takes proximity and diversity. if everyone is in a space doing the same thing, they're not sharing. the power of what we do comes from the ability to look to your next door neighbor and share expertise with that person. >> so you develop a real community.

these are not independent contractors going about their business during the day, they're collaborating even though they're in different businesses? >> oh, absolutely. community is the key to what we do. i looked at this business as a real estate business only, i probably would be out of business. what keeps people at grind is the fact that they can come in and number one get inspired by other people who are working hard and succeeding next to them, but also they can reach across the table, and access expertise that they don't have. >> interesting. where is this going? >> i think office space as we know it is transforming. how we work as a culture is transforming, due to noble technology. and the direction it's going is all your office buildings will be, if they're not shifted already, they will be shifting, and coworking will be a presence in the way we work. >> gentlemen, good to see you. great story. >> up next "on the money." a look at the news for the week

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by the way, for more on our show and our guests, you can go to our website. by the way, for more on our show and our guests, you can go to our website. otm.cnbc.com. here are the stories coming up that may impact your money this week. big banks jpmorgan chase, bank of america, and citibank will be reporting their earnings. as will popular streaming service, netflix. on monday the world's best golfers tee off in st. andrews,

at the 144th british open. on tuesday, retail sales for the month of june will be out. wednesday, fed chair janet yellen will go before congress with her semiannual testimony on the economy. then on friday, housing starts for june will be released and it will be lots of candles at the magic kingdom. disney land celebrates its 60th anniversary. even though interest rates are expected to rise perhaps later this year, or early next year, what you earn in a savings account is near rock bottom. i don't have to tell you that. but still there are deals to be had out there if you don't mind doing some digging. senior personal finance correspondent sharon epperson joins us now with the fastest path for higher rates of return for your money. which is not easy to do these days. >> it's not easy to do. but we're talking about savings and how people can actually put money to work in a savings account. it's not to work like you're going to make so much money on it, but you're saving something and that's the key point. and there are so many places to do it. you can go to a traditional

bank, a credit union, an online bank. it really is important, though, to look around and see where you can find the best rates, and really what kind of product is going to give you the type of return you want, as well. how long you want to have your money tied up. and when you do the math it can make a big difference. we aren't talking about a lot of money here. we're talking about the average rate on a savings account right now is 0.1%. that's not a lot. but if you look around you might find one that's 1% or 1.25%. look at the difference it could make. $10,000, 1% is $100 that you're going to make in interests as opposed to 0.1% you get ten bucks. >> you mentioned money market accounts, what are some of the other options out there? >> of course you have high yield savings accounts, a money market account. you can also, perhaps, look at a money fund if you have a brokerage account to put money in. you really need to search around and look for the type of product that's right for you. certificates of deposit another way to park your savings. but again you're going to tie up that principal for a year, three years, five years, depending on when that cd matures.

so you have to figure out which one is going to be best for you. which one is going to be safest for you. there are a lot of places to go to look. i like this website nerdwallet because you can go in to the website, put your zip code and decide whether you want an online bank, credit union and it will give you the highest rates in your area. with many of these online banks you can be anywhere in the country and use them. money rates is a really good website, as well. of course bankrate.com has been there forever doing this and they have really great rates and really great studies on where you can find the best rates. >> how save is the money in the various accounts? >> as long as it's in a bank that is fdic insured, $250,000 for your cd or your money market account. that's why it's so great to have a money market account or a savings account or a cd at a bank, because you do have that fdic insurance. if you have your money in a credit union the national credit union association also has been insurance fund. that will insure your money up to $250,000. so that's very important, as well. keep in mind if you have savings in a brokerage account, a lot of

people get confused by this, that's usually in a money market fund, that's a mutual fund that has risk just like any other, it is not insured. money market account is the one that's fdic insured. >> i look forward to the day we can get the savings rates, there's a number on the left side of the decimal points. >> wouldn't that be so great? >> it's been a long time. sharon epperson, thank you very much. that is the program for today. thanks for joining us, i'm bill griffeth. becky is back next week. the ceo of travel search engine kayak will be here with her on how to save time and money. each week, keep it here, we are "on the money." have a great weekend, everybody. see you next week.

letonight on "the profit"...s. we head back to some of the business i've partnered with over the past year. -carolyn? -carolyn: i'm carolyn. -nice to meet you. -lemonis: when i make a deal, i come in with a plan and a check. man: thank you, marcus. woman: i was gonna work you a little bit more. lemonis: [ chuckles ] but what happens after the cameras shut down... michael: i've let it slide for three freakin' years! lemonis: ...may surprise you. one struggling novelty sporting good company has been totally transformed. wow. look at this place. but the owner is still making the same sort of short-sighted decisions that nearly brought them to the brink. i'm pissed that you bought the printer. i'm not gonna lie. if you were me, would you stop putting money in this business?