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amazon sales rose 20%. larger that brick and mortar retail giant walmart. jet.com opened for business promising lower prices for half the price of amazon prime's membership fee. thanks for coming in. >> thank you. >> jet.com, i look at this as a competitor to not only amazon but costco, describe how it works. >> we don't think about it as competing directly with amazon or costco, we're acting as a conduit for retailers to reach more customers in a profitable way. we built this technology that actually helps pull supply chain costs out of the system. we built this dynamic pricing engine that reprices in real

time as consumers shop to reflect the true marginal cost of getting the product to you based on knowing what's in your basket. >> part of that is luring customers in with almost a gaming aspect of it. i can watch my prices go down as i add more things. >> as you shop in a smarter way and build your basket, the marginal cost comes down so you see in real time the prices coming down. >> you have had success in the past bought by amazon. what got you to this strategy? what made you think this is the way to do it now? >> we're about 300 billion online today over the next decade we see it growing to 1.2 trillion in the u.s. alone. another $900 billion coming online and a lot of participants are focused on convenience and people willing to pay a premium for service and nobody is really focused on inknow vating around price and that's where we're focus focused. >> i think it's going to be a huge one for consumers.

when you look at the prices it's phenomenal. we had a producer playing around with stuff and ordering things and ordered a toothbrush for $2.11 that was part of a larger order but that toothbrush when it showed up had been shipped by itself from walmart.com and on the receipt that you sent it said that cost $8.10. so that's a loss of 6 bucks. how do you sustain things like that where you're losing money on some shipments. >> we're start up, so it's early days. that toothbrush will be in the warehouse and we do stock the every day essentials in the warehouses and the toothbrush will be in the warehouse and put in the box and incremental cost is how we price it. the fact we bought it at walmart.com is a temporary bridge. >> how soon will you have all of this? >> we have 25,000 products in the warehouse today and by the end of the next 12 months we'll have just about every day essential product you can imagine in the warehouses, but

still, that's the only stuff we sell. everything else is coming from third party merchants, we're not competing with the merchants, we're a conduit for retailers to drive more profitable traffic. we can drive instore traffic and instore pickup and give them a back end access to set rules about control their own profitability by avoiding unprofitable orders. >> we've seen this play out and you had a huge hit with diapers.com. it was costing so much money to bring in new customers every time. i know you have $225 million in funding money already there. how long will that last though? how quickly will you burn through it? >> we have a lot of cash in the balance sheet and we'll be super aggressive about marketing. this is a scale game and put out there our goal is to get to $20 billion in five years at which point we would be at scale and have a long road ahead of us. >> would you sell? could you imagine selling to amazon.com or somebody else? >> we're not thinking about that

now. we think there's a big opportunity to create a large business. >> okay. what's been -- thank you so much for joining us, we appreciate it. >> thank you. now here's a look at what's making news as we heads into a new week "on the money." america's economy is picking up steam. it grew an annual rate of 2.3% in the second quarter. consumer spending and exports were strong, a little below expectations but better than last quarter's dismal showing. stocks fell on friday. the federal reserve's observe market committee kept interest rates steady, near zero and a

hike could come this year. there could be a new win dough opening if you have a pc, microsoft introducing windows 10, that combines desk top and tablet features and it's free for most windows 7 and 8 users. up next, we're "on the money" with football just around the corner, why is the nfl fighting with itself? can it store when it comes to a high tech future? later everyone wants to be financially well off, but what are the signs you're successful? take a look how the stock market ended the week as we come to a break. break.

music: "thunder clatter" by wild cub ♪ ♪ ♪ most weekends only last a couple of days. some last a lifetime. hampton. we go together. always get the lowest price, only when you book direct at hampton.com >> i want to apologize to the fans of the knew new england patriots and tom brady. i was wrong to put my faith in

the league. >> that was new england patriots owner, robert kraft this week, angry that nfl commissioner roger goodell upheld the four-game suspension. the penalty is punishment for e deflat-gate. the forbes executive editor, and co-hosts of his and hers, thank you both for being with us today. why don't we talk about what's happening here, mike. this is almost the best of times and worse of times for football. you couldn't think of a better business but it's amazing. >> $10 billion industry, extremely fat profit margins and new deals coming all the time on marketing and tv side yet you have this in the news. now you have the court case coming to new york, which i think is bad for brady and i think it will make things easier for the nfl to get the four-game suspension upheld. >> you think it's bad because it's a new york jurisdiction and new york jets and giants fans

here? >> i think that minnesota where they wanted it to be more favorable to the players union. and i think that's why they wanted it there. as opposed to being in new york, which i think is more unchartered territory for the nfl pa. >> do you think this at any time impacts the business of the nfl? because it is kinds of amazing, the fans are still showing up and television ratings have never been stronger? >> the nfl is teflon. i think we saw that as another demonstration with far more serious issue last year. the nfl was coming off one of its more tu multiuous offseasons because of ray rice and video and general awareness of the domestic violence incidents in the league. when week one came, everybody was back to the games and it was business as usual. the controversy it seems there's a pattern of it only helping the nfl, all of a sudden you had people who maybe weren't drawn in, i don't know who they are considering how popular the

sport is. they are drawn into the game because of the drama and storylines. >> mike, i guess it's been teflon to this point. >> i think she makes a great point too. if you look at what the number one jersey sale has been for any player, it's been tom brady. to the point, what you have is almost a rallying around. people have somebody that they love and you get new england rallying around the pats and those sort of tired of this golden boy image of tom brady saying, you know what, we are going to take the other side and really going to latch on to this and despise him. >> it's an extension of the competitiveness that we feel when we're watching these things, watching it play out. >> the passion of the nfl to what you said, one of the reasons why the ratings are so high. >> what does this mean to roger goodell, scandal after scandal, tough couple of years. >> this is a different kind of scandal, unlike what happened with the fallout from ray rice, i think he largely has the public on his side, regardless

of how this turns out in court, i think roger goodell already has won the public relations battle. tom brady and the patriots, they are very polarizing team. they win a lot and very successful. brady has a golden boy image and because of spygate and everything that happened there, for a lot of people the perception of the patriots is they are cheaters. you're not going to find a lot of people actually condemning roger goodexgts ll for coming down on a team that a lot of people have a negative perception of anyway. >> let's talk about the business of football. what you can get contentwise when it's online and when you can see from the comfort of your own home. how big of a problem do they have for teams aren't in the leadership to fill seats every week? >> you have sort of the at stadium experience and then the at home experience. what the league has done a great job of, on the margin, managing to continually increase revenue. you have the new verizon deal

that kicked in last year forehand held devices which is great. on the other hand we have a problem a little challenge selling tickets. they lowered the requirements of sold seats for blackouts and now not going to black out any games. on the margin, they are going to grow at the high single digit rate in terms of revenue and profits will be fat because they have the cap on players salaries. >> let's talk about the three teams that could wind up threatening to move to los angeles, do you think any one of them can go there. >> i'm sort of eyeballing the raiders a little bit. there's been a relationship with los angeles and people have floated the jaguars forever and people think they might go to london. i would be eyeballing that team. i know recently they sat down and had some talks. it's hard to imagine in this day and age, period, of a team moving.

that tends to have very -- the negative consequences and the r reaction, i'm curious how that would be handled with the day in age of social media. you saw a long time with the colts in baltimore, obviously in cleveland. i don't know if there is upside, even because these owners tend to hold cities hostage. i don't know if there's upside in leaving a city like there was before. >> thank you both for being with us today. up next we're measuring your financial well ngs. how to tell that your finances are fit and warning signs they may not be. break out the bubbly, we'll show you fizz filled bottles that won't break the bank.

the majority affluent of americans are feeling good to manage and invest their on money but many have less confidence during turbulence. according to a new survey, even if you don't have a lot of money there are tell tale signs to let you know if you're financially healthy. sharon epperson is here to tell us if you're on the right track. what are the signs that you're in good financial health? >> one of the things you should always do, give yourself a financial checkup. the first place to start, know what's going in and what's coming out and know what you owe and own. that's really key. if you can tell folks and tell yourself what your liabilities are and assets are, you're in really good shape. >> how often should you do

something like that? >> definitely once a year. the other important thing to know, when you look at what you owe and own, you get a better sense of what your net worth is and knowing your net worth and comparing that to your income, that's another key point. if your net income is higher, net worth is higher than your income, then you're definitely financially healthy and in great shape and living within your means. >> when i look at things leak i house, you may own money on a house, do you get to count that as an asset or liability? >> the equity would be the asset but you definitely owe that money, you've got to count that. you want to make sure that the mortgage payments that you have to make, the debt that you owe, that all of that adds up to less than a third of your income and that's another sound you're financially healthy. >> what are some signs that tell you you need to get a little more financially fit? >> you're not practical about what you're spending, you're spending on whatever you want, whenever you want. we see that all the time actually with celebrities all the way down to people who may not have a lot of money.

that's something you need to have a spending plan. you need to have a budget. the other thing people do, they don't have any emergency savings. how many people might have some of their saving automate the perhaps for retirement but when it comes to liquid cash on hand if something happens to their house or car, they don't have that ready. then a lot of folks also aren't really planning for their financial security for the future and have enough retirement savings. having adequate retirement savings and strategy to make sure that you have enough, that's another sign that you need to do some work. >> if i see one of these red flags that pops up, what do i need to do to address the warning signs? >> the first thing is to sit down and think about it and create a plan. there are a lot of apps out there and online tools to help you create a budget. but the basic thing to think about, how much money you're spending on committed offenses and how much you're saving for the long term and how much money is also going into emergency savings short term and then you

don't want to never have fun. you want to have some money you're spending on what you want. you want to create a budget that allows you to do those things. when you need help, don't be afraid to ask. there are non-profit credit counselors helping you and financial advisers helping create the plan get to where you want to go. >> sure, my pleasure. >> a look at the news for the week ahead and bottom's up, sparkling summer wines to fit your budget. we'll put them to the taste test when we come right back.

for more on our show and guests, go to our website, and follow us on twitter. here are the stories coming up that may impact your money this week. media and entakenment giants, disney and viacom report earnings and happy birthday, mr. president, barack obama turns 54 on tuesday. on thursday the buckeye state hosts the first republican presidential debate taking place in cleveland. and on friday, the big number of the week, we'll find out how many jobs were created when the unemployment report for the month of july comes out. while u.s. beer sales are flat, sparkling wine sales are bubbling. consumers are uncorking 7% more sparkling wines this year than last. ray aisle is here to tell us what's behind the sparkling

sales and open a few bottles as well. >> absolutely. we can't come without bottles. >> which is why we keep inviting you back. >> strangest thing. what's going on here? >> 40% increase in sales over the past ten years, why do we like sparkling line so much more? >> what's happening is it's starting to branch out from being just a special occasion to it used to be wedding events and only place people ever drank sparkling wine and having it for dinner and brunch. >> having it for dinner? >> absolutely. it goes great with food. people forget that. cheers by the way. >> cheers. >> this is one of the huge success stories from italy, proscetto is 37% growth and taken off like crazy. >> let's see. you know, that's kind of classic -- >> it is light and i don't even like champagne -- >> it's a little less bubbly,

slightly different production methods, done in tanks instead of in a bottle. it's a little softer and sweeter than champagne and more of an apple flavor to it. >> i can get those notes. >> this is a spanish rosee, the other big success story, it has gone crazy. >> i make fun of guys i see drinking ross -- >> people started to see brosee instead. whether you buy it or not, at least there's someone out there trying to believe that frat guys are drinking rose. this is spanish rose from the region outside barcelona. a company called -- >> that's delicious. >> they are trying to make truly ambitious on the level of great champagne. for 25 bucks it's a steal. >> if you have a fantasy event? >> there's champagne from the champagne region in france.

this is a 2008 vintage. and vintage is a very small percentage of the champagne mart, 1.3%. not counting things like don perignon. little slurp there. >> a very long glass. >> very smooth. >> very -- it's elegant and got complexity, about $80 a bottle but i like the vintage wines because they are lower that the 200 buck zone. >> how much is this? >> about 80. it's above the kind of 40 buck basic yellow label zone. a lot of bang for your buck. just a lovely wine. >> what do you think about wine cocktails, are you a wine purist do you think it's good or bad? >> i don't think it's a bad thing. people should drink what they like. i'm not out here to tell people if you drink this, you're wrong. but you know, i think prosecco particularly, the rule with cocktails, don't use something expensive in the cocktail

because you'll lose what all made it expensive. prosecco is fantastic with a mimosa, i had a spritzer made with liquor that was terrific. perfectly fine to experiment and do what you want. >> do it with the cheaper bottles not the expensive? >> exactly. >> thanks for being here. >> that does it for us today. i'm becky quick. thanks so much for joining us. next week, making sure you can pay for your golden years. we will have the top retirement of mistakes to make sure you avoid. each week, keep it right here. we'll see you next weekend.

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