hi, everyone, welcome to "on the money. robo calls, everyone gets them and everyone hates them. what you can do to try to avoid scams. what's the makeup of a successful beauty business how one company is expanding in the brick and mortar retail world. putting his money on a group of incredible young people he thinks will change the world. >> we are always joking this is a four-year college experience on steroids. >> how you can clean out and clean up at the same time. "on the money" starts right now. >> this is "on the money", your money, your life, your future.

>> we begin with robo calls that interrupt you both at your home phone and on your cell phone how can you fight back andrea day explains how you can let scammers know -- >> this is urgent that you contact us. >> reporter: it's a robo call, automatically dialed call bothering millions of americans. >> 30 billion calls a year now. >> he developed an app to try to stop the madness. >> it's a pitch for emily the travel scammer or fake microsoft. >> important notice regarding your automobile. >> i get ten calls a day. >> the do not call list was supposed to stop so why does it seem it's getting worse? >> it works for legitimate businesses the problem is all of the people

who don't respect it who could care less. people fall for the scams enough to make it worth while >> we sat down with the federal trade commission behind the do not call list. the ftc says consumers lose 350 million every year falling for robo rip-offs. >> we investigate unwanted calls and where they are coming from and bring law enforcement actions to stop them. >> reporter: according to the ftc, most calls are coming from overseas where they try to stay out of reach and blast out calls for next to nothing. last year the ftc received 3.5 million complaints about the calls, that's up 60% from 2015 the federal communications communication also regulates telemarketers and telling us, unwanted call, including illegal

robo calls and telemarketing calls are the chief complaint. >> made it easier to spoof calls, it looks like they are coming from your bank or someone nearby. >> now cominging in from my own area code. >> they are testing letting providers block some calls that are likely spam and according to the trade group -- >> we can return trust worthiness to the caller i.d. information and industry is working on standards on that front. >> ctia says its united in its efforts to defeat robocalls, these efforts stop a million every year. >> everybody has to get out of the habit of picking up the phone and answering if it's not a number you don't know. >> when you get robocalls, write down the numbers and share them with the ftc, complaints do not

call .gov, they pass them to u mail so they will can block the calls for you. >> are you taking a risk every time you answer an unknown call you'll get more calls down the road she's testified before congress on behalf of consumers fighting against the robocalls. thanks for being here today. >> you're welcome. >> why are there so many more of these robocalls out there? this is a constant daily annoyance at my house too. >> people are making money by making the robocalls and as long as that's the case, the robocalls will continue to be made. >> sometimes the gentlemen said in the package, you don't recognize the number but it's coming from the town next to you. if i hear the delay before things start, should i hang it up anything i can do at that point? >> if a live person comes on, you can say to that live person, please take me off your list if they call you again after you

requested to be taken off their list, they are violating the law. >> just this month the ftc fined dish network for violating the do not call list that's a record fine but does a lawsuit like this make an impact. >> yes, a lawsuit like that does make an impact with the dish settlement and similar class actions brought against robocallers, eyou're talking about telemarketers and debt collectors who are identifiable for whom the law is still useful that's the law the telephone consumer protection act which is under considerable attack because they want relief from that liability so they can continue to make those calls. >> so what should i do as a consumer can i complain to the ftc, does something like that work >> you should complain, tell the ftc and member of congress you

don't robocalls from known or unknown robocallers. >> we saw the ctia is opposed to loosening these things i would imagine big carriers like at&t and verizon are too. with all of the calls coming into my house, almost every one is a robocallers are there things they can do >> you put your finger on a critical distinction there are fewer protections against robo calls for land lines then there are against cell phones. as a result we're seeing far more robocalls to land lines, so much so that many people have done what you're thinking, dropping their land line. >> speak up, speak loudly and tell the people on the phone and congressman and complain to these government offices and do it very quickly. >> send a letter or send a phone

call or a text to your member of congress saying do nothing to reduce liability for unwanted ro robocalls and that may help. >> thank you for your time today. >> you're welcome. >> up next, we're "on the money", how the selfie generation is boosting the bottom line. some of america's best and brightest choosing to spend a year with 100 scholars in china. the goal, just to change the world. small goal we'll talk more about it in just a bit. >> let's look how the stock market ended the week.

now here's a look at what's making news as we head into a new week on the money.

oil prices are plummeting. that will probably end up being good news for consumers since gasoline prices will probably stay low this summer as well the falling oil prices are because of supply. oil services and producers are important parts of the stock market on tuesday the dow had the worst day since the middle of may. stocks were mixed later in the week trafs kalanick is look being for a new job. he's the now former ceo of uber, the ride sharing giant he resigned under pressure from the board after criticism of the company's culture and workplace practices which allegedly include turning a blind eye to bullying and sexual harass he's still on the board and controls a big chunk of voting shares as if being a handsome famous actor wasn't enough, george clooney is really rich sold his tequila company for

about a billion dollars. his stake could be worth up to $233 million of course that's all before taxes. they say beauty is only skin deep but people who buy beauty products have deep pockets last year americans spent $62 billion on makeup and lotion and hair products and one fast growing company is blue merry. joining us is the ceo and co-founder marla beck. >> thanks for having me. >> you have 125 stores nationwide and opening another 40 more this year alone. >> yeah. >> that is -- what's the secret? >> it's our business model and we're constantly looking for white space. first of all we locate in neighborhoods near where our clients live and work, we're last mile except for ups and amazon trucks. near where people live and work and we're in streets, not in malls. two, we're all about launching new products

one in every five products we sell is a brand-new product. so the innovation and pace of innovation is important for us three, we have the best beauty experts, huge army we're providing an experience when people walk in. >> you mentioned the ups truck, the last mile, those are things you can go on amazon and buy and that's how you differentiate yourself. >> 100%. people come in, i need new eye cream because i have fine lines. you can't learn that from amazon. >> when you started in 1989 it was going to be the dot com only solution how did you decide to pivot to the whole idea it's brick and mortar too and the customer experience >> the word pivot didn't exist in the '90s, we failed and almost went bankrupt we went from clicks to bricks because we had to. we were really early, first dot com boom and bust. everybody was on dialup and no one was shopping online. we looked at the industry, everything is sold in department

stores and drug stores, there's no such thing as a free standing beauty store we thought let's open a free standing beauty store where you can get friendly expert honest advice and the best beauty products in the world and back then you had to buy products behind glass counters and you had to drive all the way out to the mall our first set of stores were in the cities, washington, d.c., philadelphia, chicago where there weren't malls. >> it's so ironic that you say that because then you were acquired by macy's and wound up back in the malls too. is this a constant evolution >> commerce is always evolving, so yes for macy's it really gave them a window on to what was happening in street retail and for us, we got to experiment back in the mall and see what that set of consumers was interested in. the millennials are shopping the malls a little bit, we wanted to understand that consumer it's been a huge learning

experience. >> what have you learned in terms of millennial shoppers who are in the malls, are you able to pull them into the department store? >> what's interesting, they like blue mercury when they pop in, they can touch everything on their own. things aren't behind counters and the staff are trained in all brands if they have a question, it's really about what they are looking for and not necessarily about one brand's product. >> how do you keep up with local trends i'm guessing what plays in new york city may not necessarily play in peoria how do you keep between the different markets. >> it's art and science, we have huge data bases that we're calling through to look at trends and huge listening posts so we're listening to people and our staff and what's hot and what's not so interestingly in jersey, self-tanners, really hot i know, you're laughing. >> i live in jersey, okay. >> self-tanners, big hair. >> texas -- >> i like big hair too and have a house in jersey.

texas, it's all about cosmetics. california, natural organics and in the cities we're seeing an anti-pollution movement. they want products that take the grim and pollution off the skin. >> really interest the other thing we're seeing, digital media is impacting products and categories so much. so this whole selfie generation, they want products that come to life, so masks are huge right now. green mask, metallic mask. i can put -- >> seriously the selfie. >> you can see what i'm doing. >> selfies are pushing your business at this point >> yeah, the lip category too because i can change my lipstick, just changed my whole picture. the digital generation is changing the products. >> that's amazing, thrilled to hear it. thank you so much for joining us. >> thank you, great to be here. >> you too up next, we're "on the money", an american billionaire betting on a new school he's launching can the next generation of leaders learn to avoid a future

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the future isn't silver suits anit's right now.s, think about it. we can push buttons and make cars appear out of thin air. find love anywhere. he's cute. and buy things from, well, everywhere. how? because our phones have evolved. so isn't it time our networks did too? introducing america's largest, most reliable 4g lte combined with the most wifi hotspots. it's a new kind of network. xfinity mobile. billionaire businessman steve swarzman launched a unique program you haven't heard of yet. he selected 110 of the best and brightest to spend a year on full scholarship to a school he created in beijing, china.

the goal is to find the next generation of global leader who's can understand the cultural differences between the east and west. >> you are here in china in beijing, this is not yale harvard. this is different. things are done differently. but the first, understand why things are done differently. >> in a country known for a great wall, a new school seeks to bridge cultures and languages and build global understanding 110 students from 30 countries attended a grad school created by steven swarzman we spoke earlier this week. >> the talent that these people have, it makes me feel like on a scale of 1 to 10 i'm a solid 7 they are 9.5 to 10s, really remarkable students. >> they spent an all expense year in china earning a masters degree in global affairs, west point cadet reg na parker is one of them. >> me personally and americans

at large don't understand china maybe as well as we should and it's important to understand their system if we're also going to grow as well and continue to thrive. >> but chinese national j lee explains his culture defines leadership differently. >> you don't talk about leadership until you're more established or until you're older. i think it's definitely part of the humble and modest culture that traditional chinese history and value have. >> my name is carlos, i'm from the dominican republic. >> carlos spent 14 years in the united states. >> going into my first class i was very nervous. >> can you say the last two again? >> americans are out there, not afraid, the way we're conditioned to talk about our opinions but maybe other cult e cultures that's not appreciated, how you show respect. >> while the u.s. and china are divided on multiple issues, students are taught to navigate the conflicts from competition and cultural difference.

>> china and u.s. are in constant disagreement. it's not a secret. but i believe the first step of resolving every problem is to get to know what the other people think, which is what we are doing as swarzman cleng. >> armed with a degree after extraordinary experiences, swarzman scholars are now global graduates. >> can you imagine the impact our pieners will have made in politics and business and society. >> to come together as a class of 110 students and have steven swarzman tell you, hey, guys, you are the nest world leaders, now is the time to think about how i want to make that difference. >> you can see the entire documentary, the best and brightest at 10:00 p.m. eastern and pacific time on sunday on cnbc up next on the money, a look at the news for the week ahead. what's hiding in your closet, we're not talking monsters here. how to trade your clothes for cash thanks for loading, sweetie.

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nope. no way. nada. really? dish issues? throw it all in. new cascade platinum powers through... even burnt-on gravy. nice. cascade. >> here are the stortryes coming up that may impact your money. we'll get the durable goods orders for may, items designed to last three years if you're lucky. indian prime minister modi is meeting with president trump at the white house and also the 20th anniversary of the release of the first harry potter book on tuesday, the case shiller home price index is out.

thursday, get this, the iphone actually turns 10 years old. yes, we're old friday, personal income for may is out but you know how good it feels to find a quarter in the couch, what about finding dollars in your closet. courtney ragen found some in hers >> looking to refresh your summer wardrobe but don't have the cash look no further than your closet there are plenty of websites that will help sell gently used but still in style clothes i decided to do an unscientific test of two methods, an app poshmark and thread up to see which would earn me more money after spending quality time in my closet, i picked nine pieces from brands like j. crew, and club monaco. >> i discovered posh mark works like ebay and facebook combined. each has his enlisting and it took hours to take pictures of

the clothes and upload the images and set the price and to sell, you need to be social following others, commenting and sharing your listings. ultimately i got offers on four items on posh mark, both the j. crew sweater and pants and dress and karen millen card gan. thread up is considerably less work you order a bag and when it comes you fill it up and the time consuming part was the waiting, it took eight weeks to get the total in the end thread up accepted three items. the club monaco dress and same j crew posh mark takes a $2.95 commission for sales under $15 and 20% commission for sales over that and the buyer pays the shipping factoring in all of that, my net profit came to $144. tled up pays an up front payout

for in season items or percentage of the sale price ranging from 5 to 80% for offseason clothing sold on a consignment model. my net profit came to $13. >> i reached out to both companies following our experiment and posh mark founder says his app has 2 million people currently selling, sharing over 7 million items a day leaving to a sale made every few seconds. tled up does all of the work and only accepts meet items that will sell quickly. thread up is getting rid of the $10 bag order fee. >> i thought it sounded cool until you got $13 on that site. >> the great thing is, it's very easy, you fill up the bag, they do the work. we had to wait eight weeks and after the $10 fee, $13. >> would you do it again on either one >> i think i would do it again on posh mark, it did take time

but you're in the control of the process, you can accept lower offers lower than the price you set and more in control that way. thread up, i wasn't thrill with the payout. >> with the payout, why bother >> i would personally rather donate than get $13. >> good will or salvation army. >> thanks so much. folks, that does it for us today, i'm becky quick, thanks for joining us next week, as summer heats up, what better way to cool off than with a nice glass of vino, my favorite time of year we put wines to the taste test. have a great one, we'll see you next weekend

hey there, we're live at the that nasdaq market site here's what's coming up on the show. >> ranking the market, relax there's one dow stock setting up for the perfect catch-up trade we'll give you the name. plus, nike set to report earnings and do you know which way the stock is going to go >> do you know. >> we don't know for certain but there are interesting options trades that might shed in light. we'll break it down. and -- talk about hot, in the last two weeks, carter predicted the surge in oracle and